CII Communique - February, 2010

Africa
South Africa
The CII – India Business Forum, South
Africa, met for the first time this year on
29 January in Johannesburg, to welcome
Mr. Vikram Doraiswami, the newly
appointed Consul General of India, Johannesburg.
Mr. Raman Dhawan, Chairman IBF-South Africa
highlighted the progress of the IBF over the last two
years, as a useful instrument to give a voice to Indian
businesses in South Africa.
The Consul General felt that IBF represented India Inc
very well and would serve as a point of lobbying, collating
East Asia
China
China became the world’s second largest economy in 2009,
surpassing Japan. China raised its growth forecast for 2008
to 9.6% from 9%, which took the total to over $4.6 trillion.
China also became the world's top exporter in 2009.
Urban-Rural Income Gap
Per-capita disposable income of urban residents in China
reached 17,175 yuan in 2009, up 8.8%, compared to
5,153 yuan of rural residents. The income ratio between
urban and rural residents in 2009 was 3.33:1, compared
to 3.31:1 in 2008 and 2.56:1 in 1978.
ODI set to top $42 billion
China’s annual overseas direct investment (ODI) from
non-financial sectors is expected to top $42 billion in
2009. Non-financial ODI in the first nine months stood at
US$32.87 billion, up 0.5% year on year. China reported
$64.77 billion of business in overseas-contracted
projects in January to November, up 37.5% from the
corresponding period last year.
Biggest Auto Market
China overtook the US as the biggest auto market in
2009 as car sales last year soared to 10.3 million and
total vehicle sales are estimated at 13.6 million. This
represents growth of about 45% from 2008. US sales
and sharing information on trade and investment. He
shared his thoughts on ways to strengthen the IBF
platform in South Africa , and urged the Forum to take
the India Brand forward.
Raman Dhawan, Chairman-IBF, South Africa and Vikram Doraiswami,
Consul General of India, at an interactive session in Johannesburg
of cars and light trucks plunged 21% in 2009 to 10.4
million. It was the first time any country bought more
cars than Americans.
Economic Indicators
GDP
Up 8.7% to 33.5353 trillion yuan
($ 4.89 trillion)
CPI Down 0.7%
Retail sales Up 16.9%
Industrial output Up 11%
Fixed-asset investment Up 30.1%
PPI (Dec 2009) Up 1.7%
PPI Down 5.4%
Premium income Up 13.8% to 1.11 trillion yuan
($162.52 billion)
SOEs growth 14.6%
SOEs profit 797.72 billion yuan ($116.8
billion)
Forex reserves $2.4 trillion at the end of 2009
China's fiscal revenue $1 trillion
FDI
Down 2.6% to $90.03 billion
Foreign trade
Down 13.9% to $2207.27 billion
Exports
Down 16.0% to $1201.66 billion
Imports
Down 11.2% to $1005.60 billion
Trade surplus
Down 34.2% to $ 196.06 billion
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