China Economy: News & Discussion

Ray

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China reveals exports, imports fall in January
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BEIJING -- China's trade activity fell in January from a year earlier, data showed Friday, as a domestic slowdown, overseas turmoil and factory closures during the Lunar New Year holiday hit demand.

Exports fell 0.5 percent year-on-year in January to US$149.94 billion while imports plunged 15.3 percent to US$122.66 billion, customs said in a statement, marking the worst trade data since 2009 during the global financial crisis.

China's politically sensitive trade surplus — a constant bugbear for its major trade partners — widened to US$27.28 billion in January from US$16.52 billion in the previous month, the statement said.

Analysts have cautioned that the January data had been distorted by the earlier-than-usual Chinese Lunar New Year holiday, also known as the Spring Festival, which fell in January this year.

Many of China's factories and businesses cut back production or close their doors during the holiday so employees can travel home to celebrate the most important festival in the Chinese calendar with their families.

Even so, analysts said the latest trade figures added to mounting evidence that the world's second-largest economy was slowing as the eurozone crisis and weakness in the United States hurt demand for Chinese products.

The double-digit fall in imports also reflected "extremely weak domestic demand as investment slumps," said Alistair Thornton, a Beijing-based analyst at IHS Global Insight.

Seasonally adjusted figures show exports and imports rose 10.3 percent and 1.5 percent year on year, respectively, which still marks a sharp slowdown from December when exports rose 13.4 percent and imports were up 11.8 percent.

Chinese shares were down 0.21 percent, or 4.99 points, at 2,344.60 in early afternoon trade.

Bank of America-Merrill Lynch economist Lu Ting said the European sovereign debt crisis posed the biggest threat to the Chinese economy this year and would be a "major drag" on growth as consumers cut back on spending.

The International Monetary Fund (IMF) this week warned that an escalation of Europe's fiscal woes could slash China's economic growth by half this year, and it urged Beijing to prepare stimulus measures in response.

In the IMF's "downside scenario," China's growth would fall by around 4.0 percentage points this year from the 8.2 percent rate it projected in January.

But Chinese leaders have been cautious about opening the credit valves for fear of reigniting inflation, which has the historic potential to trigger social unrest in the country of more than 1.3 billion people.

Late last year the central bank eased lending restrictions on banks and analysts expect similar moves this year as authorities try to spur economic activity and prevent a collapse in the property market.

Policymakers are also easing taxes and improving funding channels for small and medium-sized businesses which are huge employers but are often shunned by the major banks.

Chinese Commerce Minister Chen Deming said Thursday that smaller businesses were "under growing pressure" and the government planned to adopt a number of measures to help them overcome their current difficulties.

"Should there be any fine-tuning, it will be supportive rather than discouraging," Chen said, echoing comments made by Premier Wen Jiabao at the weekend.

China reveals exports, imports fall in January - The China Post
 

redragon

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Just stop pretending you understand china and post those lengthy and misled articles.
We have a lot of game, just count how many gold medals China has in Olympic. What is the name of your game? I have never heard one.
 

cir

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Seasonallyt adjusted,China's Jan。 2012 exports were still up some 11% despite of the awful external conditions, while India's much smaller export is in the doldrums。
 

LTE-TDD

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Beijing to Build World's Busiest Airport


2012-02-25 19:27:08 CRIENGLISH.com Web Editor: Fuyu





Beijing is to build a new airport, which is likely to be the world's largest in terms of passenger traffic, to the southeast of the city, China National Radio reports.

The new airport, yet to be named, is to be located on the border between Beijing and Langfang, a city in north China's Hebei province which surrounds Beijing. It will be approximately 45 kilometers from Beijing's city center; about an hour's drive.

The airport is designed to be a key international airport. It will have nine runways and is expected to direct more than 130 million passengers and 5,500,000 tones of cargo annually, replacing the Hartsfield-Jackson Atlanta International Airport in Atlanta, Georgia, the United States, to become the busiest in the world.

The new airport will also act as a hub, connecting highways, transportation roads and roads in rural areas together.
This will be the third civil airport in Beijing, following the Nanyuan Airport and the Beijing International Airport, which houses Terminal three, the largest building in the world.

When put into use, the new airport will serve Beijing, as well as the nearby Tianjin municipality and Hebei province.
 

cir

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CBD fest to mark start of core project

Updated: 2011-09-14 13:46

By An Baijie (China Daily)

BEIJING - Work to build the core area of the capital's central business district (CBD), which includes 18 new low-carbon buildings, will start on Thursday, a city official has announced.

"Preparation for the design and demolition, which started in March last year, has finished," Wu Guiying, Chaoyang district's executive deputy governor, said on Sept 13. "Construction on the (30-hectare zone) should be completed in 2015."

Wu, who is also director of the CBD administrative committee, was speaking at a news conference ahead of the 11th annual CBD Business Festival on Sept 15.

When finished, the zone will be home to the headquarters of 27 companies, including China Minsheng Bank and China Investment Corp, while it is also expected to attract investment of 100 billion yuan ($15.6 billion), with annual tax revenue of more than 50 billion yuan.

A total of 18 new buildings will be built, with companies set to sign low-carbon pledges on Thursday to show their determination to saving energy, land, water and other resources.

"Our goal is to save 65 percent of energy in the construction and maintenance of the buildings," Wu said. "Companies working in the zone should also be from low-carbon emission industries, such as finance and insurance, and be regional headquarters of international companies."
One of the green structures will be Beijing's latest skyscraper, a 510-meter office tower owned by CITIC Group that will have 104 floors above ground and four basement levels.

The final design for the core area, chosen from 203 options provided by 60 domestic and overseas agencies, will be unveiled during the festival, Wu said.

Work on the underground section, which will go down five levels and connect all 18 buildings, has already started. The project includes parking lots and emergency escape routes and will cost 4 billion yuan.

"People can drive underground from one building to another after the construction, which will definitely alleviate traffic above ground," Wu said.

An estimated 80,000 to 100,000 people will work in the core area, with 85 percent expected to commute using public transport, he said.

More than 180,000 people already work for about 15,000 companies in the CBD, making traffic congestion a pressing issue. Three new subway lines and three new bus stations will be built in the zone by 2015, Beijing Youth Daily reported. The west-to-east Line 6 will be put into use next year.

Source: http://www.chinadaily.com.cn/bizchin...t_13685191.htm
 

Bhadra

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China also does this:
 
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cir

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Universal in early talks on China theme park

Updated: 2012-02-27 10:16(Agencies)

Tianjin, China's sixth-largest city, has held preliminary talks with Comcast Corp's NBC Universal about a joint venture to build a theme park in the port city, according to the head of a Chinese trade delegation visiting Los Angeles.

The Tianjin city government also intends to meet at a later date with other Hollywood studios, angling to become the latest to partner with US media conglomerates and develop entertainment for China's growing consumer base, while fostering a future generation of local filmmakers.

"We are establishing a center for culture and creativity and we want to become partners with the biggest and best companies in this area," Tianjin Vice Mayor Cui Jindu said through an interpreter in a phone interview with Reuters. "They have a lot of experience in this."

It can take years to hammer out theme park agreements in China, as Walt Disney Co learned with its Shanghai endeavor. Several cities, including Beijing, have reportedly vied in past years for such high-profile investments, eyeing the prestige attached to a major global tourist attraction.

The Chinese official, part of a delegation in Los Angeles on Academy Awards weekend, convened at the home of Joan Dangerfield, the widow of comedian Rodney Dangerfield.

Dangerfield is a partner in the Beverly Hills-based consultant, Opus 73, that links foreign investors with US companies.

Cui did not indicate that a deal with Universal was imminent, but he said Tianjin -- city of about 10 million within easy distance of Beijing -- could partner with the major Hollywood company to build a theme park and perhaps even a studio.

"There are still hurdles to overcome," he said, adding that his city was prepared to provide a financial contribution to any joint venture created. Any partnership would also need regulatory approval.

The Chinese delegation intends to make initial contact with other studios and will talk with other companies in addition to Universal before making a decision.

"We want to talk with Warner Brothers, with Disney and others," he said. "We are at the beginning of this."

Universal declined to comment.

Other Hollywood studios have recently formed alliances with Chinese companies and governmental units.

On February 17, "Kung Fu Panda" creator DreamWorks Animation SKG said it planned to build a production studio in Shanghai in a deal that was announced while Chinese Vice President Xi Jinping was visiting Los Angeles, wrapping up a US trip.

Last April, Disney broke ground on a $4.4 billion resort in Shanghai that will include a theme park and hotels, and be majority-owned by three large state-owned media or construction companies.

In May, Tianjin itself opened a $690 million animation studio to help boost its local animation industry.

The Chinese delegation, which arrived two days before the annual Academy Awards ceremony, had no plans to attend the Oscars event itself, Cui said.

"But we will attend some of the peripheral events," he added.

Universal in early talks on China theme park | Companies | chinadaily.com.cn
 

cir

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12 meteorological satellites planned before 2020

Updated: 2012-03-03 15:21(Xinhua)

BEIJING - China will launch 12 meteorological satellites before 2020 to further boost the country's weather monitoring capabilities, a senior meteorological official said Saturday.

The orbiters are among 14 meteorological satellites that are scheduled to be launched as part of a 10-year plan created by the China Meteorological Administration, said Zheng Guoguang, director of the administration.

"The launch of these satellites will dramatically boost China's weather monitoring capabilities, providing better services for a variety of industries," Zheng, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body, said ahead of the body's upcoming annual session.

On January 13, China successfully launched meteorological satellite Fengyun-II 07 from its southwestern Xichang Satellite Launch Center.

The Fengyun-II 07 is the 13th meteorological satellite launched by China since 1988, bringing its total number of meteorological satellites to seven. With improvements based on previously-launched satellites, the Fengyun-II 07 is particularly useful for monitoring emergent natural disasters, Zheng said.

He also disclosed that China will launch its third Fengyun-III satellite at the end of this year or early 2013.

12 meteorological satellites planned before 2020|Sci-Tech|chinadaily.com.cn
 

cir

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HSBC China services PMI hits 4-month high in Feb

BEIJING, March 5 | Sun Mar 4, 2012 9:31pm EST

BEIJING, March 5 (Reuters) - China's services sector ran at its fastest pace in four months in February, though well-below its long-term trend despite an uptick in new business growth to an eight-month high, a private-sector survey of purchasing managers showed on Monday.

HSBC China services PMI hits 4-month high in Feb | Reuters
 

cir

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New capital for CIC to acquire European assets

Updated: 2012-03-05 07:33

By Ding Qingfen (China Daily)

BEIJING - China Investment Corp, the nation's sovereign wealth fund, has received an injection of $30 billion from the government that will help it buy assets in debt-stricken Europe, Wang Jianxi, deputy general manager and chief risk officer of CIC, told China Daily.

New capital for CIC to acquire European assets|Economy|chinadaily.com.cn
 

cir

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China inflation eases to 3.2% in Feb

Updated: 2012-03-09 09:48(Xinhua)

China's CPI growth falls to 3.2% in Feb

BEIJING - China's consumer price index (CPI), a main gauge of inflation, rose 3.2 percent year on year in February, the lowest growth since June 2010, the National Bureau of Statistics (NBS) said Friday.

The increase eased from a 4.5 percent rise registered in January, when a shopping spree during the traditional Chinese Lunar New Year boosted retail prices.

The country's CPI climbed 3.9 percent in the first two months compared with the previous year. On a monthly basis, CPI dipped 0.1 percent in February, the NBS said.



China PPI stays flat in Feb

BEIJING - China's Producer Price Index (PPI), a main gauge of inflation at the wholesale level, remained unchanged in February from a year earlier, the National Bureau of Statistics (NBS) said Friday.

The zero-growth reading, the lowest since December 2009, further eased from 0.7 percent in January, after hitting a 31-month high of 7.5 percent in July last year, NBS data showed.

On a month-on-month basis, the country's February PPI grew 0.1 percent from January, the NBS said in a statement on its website. [Full Story]

 

JAYRAM

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China posts record trade deficit in 20 years

By Ding Qingfen (China Daily)
09:41, March 11, 2012

Seasonal factors' may have caused an 'individual case", say experts

China posted its largest trade deficit in the past two decades last month, while the nation's imports surged by 40 percent. Exports grew at half the rate of imports.

Economists say the spike in imports and large trade deficit in February is an "individual case" and could be attributed to "seasonal factors", predicting imports will moderate in the months ahead as China's economic growth slows.

They also said the gloomy outlook will probably lead to a "slower pace of gains in the Chinese currency and the easing of government policy".

According to the General Administration of Customs, China's imports rose 39.6 percent from a year earlier, after a 15.3 percent slump in January. Exports grew 18.4 percent year-on-year, with drop of 0.5 percent.

This caused a trade deficit worth $31.5 billion in February, the largest since 1990.

Because the Chinese lunar New Year fell in January this year, the year-on-year growth rates for Chinese exports and imports were distorted, and combined figures for the January-February period "could better reflect the current situation", said Li Wei, an economist from Standard Chartered Shanghai.

In that period, China's foreign trade gained by 7.3 percent to $533 billion, with imports increasing 7.7 percent and exports 6.9 percent. The first two months saw a trade deficit worth $4.25 billion.

In his government work report on Monday, Chinese Premier Wen Jiabao cut the economic forecast for this year to 7.5 percent, saying China's 2012 priorities are to stabilize economic growth and expand domestic consumption.

Wen also said China's foreign trade this year is expected to grow by 10 percent.

"Outlook is not positive," said Wang Tao, economist with UBS AG.

China's export volume to the European Union is especially weak due to the debt woes, she said. "But the US market is a little better."

From January to February, China's exports to the EU dropped by 1.1 percent, pulled down by the crisis in Italy, where imports from China fell by 31.1 percent. But sales to the US gained 12 percent.

Emerging markets helped Chinese exports. Sales to Russia and Brazil gained 10.3 and 10.9 percent, respectively.

But the scale of the deficit in January and February may soften blame, especially from the US, that China supports its exports by keeping its currency artificially weak, said experts.

"By the end of the third quarter, we would see mild growth for China's exports and imports," said Li.

"This will slow down the pace of the yuan's appreciation. China could achieve a target of 10 percent growth in foreign trade this year, but the task will be arduous,."

Wen said in the work reports that the government will "carry out timely and appropriate anticipatory adjustments and fine-tuning" of fiscal and monetary policies.

People's Bank of China Governor Zhou Xiaochuan also said recently that China may "appropriately" widen the yuan's trading band "to better reflect market supply and demand."

Jiangsu, which ranks third in China in terms of foreign trade, also suffered a blow.

"Jiangsu's situation is worse than the nation's average," said Dan Jiaxiang, deputy director, of Jiangsu's department of commerce.

Jiangsu's exports gained by 3 percent year-on-year from January to February, and its imports decreased by 3 percent.

The outlook for exports and imports in the coming months does not augur well for the province in China's eastern region, Dan predicted.

China posts record trade deficit in 20 years - People's Daily Online
 

cir

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A Summary of 2011 GDPs of China's 34 Provinces and Regions:



The total, which includes Taiwan, is 56.64 trillion yuan($9 trillion).

Excluding Taiwan, the sum is 53.62 trillion yuan.
 
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J20!

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Tianjin airport T2 construction
T2 construction was started on 5/31/2011. T2 will be built in 3 years with a total cost of 5.92 billion yuan. The target 2020 PAX is 25 million. T2 is the biggest terminal in the middle, the current T1 is the smaller one on the right




Construction progress 11.27.2011



2.15.2012



3.3.2012




3.23.2012


 

Armand2REP

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Another ghost airport to go along with the ghost mega malls and ghost cities. :thumb:
 

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