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China warns of tit-for-tat over dairy ban - CII

China warns of tit-for-tat over dairy ban - CII

September 2013Economic

September 2013Economic IndicatorsCPI (Aug) 2.6% PPI (Aug) Down 1.6PMI (Aug) Up 50.1 Industrial value added Up 10.4%out put (Aug)Fiscal revenue Up 9.2% to 858.8 Fixed-asset investment Up 20.3% to 26.26 trillion(Aug)billion yuan(Jan-Aug)yuanRetail sales (Aug) 13.4% FDI (Jan-July) $71.39 billion, up 7.09%Retail sales (Jan-Aug)Up 12.8% to 14.81trillion yuanNew Yuan lending(Aug)711.3 billion yuan, anincrease of 7.4 billionyuan from a year ago,China central bank continues liquidity injectionChina's central bank continued to inject liquidity into the banking system on August 6, with 12 billion yuan ($1.96billion) of 7-day reverse repurchase agreement (repo) operations. The yield of the reverse repo stood at 4 percent.China becomes world's biggest material consumerChina has become the world's largest consumer of primary materials, including minerals, metal ore, fossil fuels andbiomass, with domestic material consumption levels four times that of the United States, according to a report titled"Resource Efficiency: Economics and Outlook for China" released by the United Nations Environment Program onAugust 2. From 1970 to 2008, China's per capita consumption of materials grew from one-third to over one-and-ahalftimes global average levels (More).China's gold consumption surges in H1China’s first half gold consumption reached 706.36 metric tons, up 53.7 percent year on year, compared to 832 tonsconsumption in 2012. China was the world's second-largest user last year. According to analysts, China mayovertake India to claim the top spot this year in consumption of gold (More).Chinese holding of US Treasury securities reaches $1.32 trillionAs the biggest foreign creditor to the US, China increased its holdings of US Treasury bonds for the fifth consecutivemonth in May to $1.32 trillion. Japan, the second-largest buyer, trimmed its holdings by 0.2 percent to $1.11 trillion,while foreign investors as a whole decreased their holdings by $39.2 billion (More).China's online sales may overtake USChina's e-commerce spending may surpass that of the United States this year and will reach 3.3 trillion yuan ($532billion) in 2015, according to Bain & Co’s annual "China E-commerce Report". China's e-commerce market willcontinue to grow 32 percent annually in the next three years and will be 50 percent higher than that of the US in2015. In the first half of this year, the US's online retail size jumped 14 percent to $100 billion, according to researchcompany ComScore (More).Government & PoliticsChina issues white paper on economic, trade cooperation with AfricaChina on August 29, issued a white paper on China-Africa Economic and Trade Cooperation, underlining latestachievements of the mutually beneficial cooperation between China and African countries. The white paperintroduces facts of trade development, investment expansion, agricultural cooperation, infrastructure constructionand other fields of cooperation between China and Africa since 2009. In 2012, the total volume of China-Africa tradehad reached $198.49 billion, a year on year growth of 19.3 percent (More).China to raise fines for trademark infringementChina is expected to raise the compensation ceiling for trademark infringement to 3 million yuan (about $490,000),six times the current limit, according to the draft amendment to the Trademark Law (More).Kunming to offer 72-hour visa-free staysThe city of Kunming in southwest China's Yunnan Province is expected to become the fourth Chinese city afterBeijing, Shanghai and Guangzhou to offer international transit passengers 72-hour visa-free stays in the latter half ofthe year.2

September 2013China achieves 99 percent rural healthcare coverageMore than 800 million people, or 99 percent of China's total rural population, have been provided access to the newrural cooperative medical insurance, according to the National Health and Family Planning Commission. 49 percentof the funds for new rural cooperative medical care are used, benefiting 860 million person-times in rural areas, 16.2percent more than previous year (More).Nanjing unveils $87 billion stimulus planAuthorities in Nanjing, capital of Jiangsu province, announced a stimulus plan with an investment target of 536 billionyuan ($87.6 billion) for 2013, according to a report of the Oriental Morning on August 21. The city also plans to issuetourism coupons, worth 540 million yuan, to high-speed rail passengers traveling between Hangzhou, Shanghai andNanjing. The stimulus will see the city push forward major infrastructure construction, including a second-phase ofthe airport and railway projects (More).Construction started on 5 million affordable housesChina's affordable housing program is going smoothly as construction has begun on 5 million affordable housingunits this year. The number accounted for roughly 79 percent of the 6.3 million units planned for the whole year,according to the Ministry of Housing and Urban Rural Development of China. The program, which was approved in1999, is designed to provide cheaper housing to low-income families who have been edged out by runaway realestate prices. The government has vowed to build 36 million affordable housing units during the period from 2011 to2015 (More).China approves pilot free trade zone in ShanghaiChina on August 22, 2013, approved the establishment of a pilot free trade zone in Shanghai covering 28.78 squarekilometers. The new zone will be built on the basis of existing bonded zones -- Waigaoqiao Free Trade Zone,Waigaoqiao Free Trade Logistics Park, Yangshan Free Trade Port Area and Pudong Airport Comprehensive FreeTrade Zone. The pilot zone is a crucial move in adapting to global economic and trade development and imposing amore proactive opening-up strategy, to explore a new path for China's opening up, speed up transformation ofgovernment functions and promote economic restructuring. Experiences gained from the pilot zone are expected tobe copied in other parts of the country (More).China announces 9 pilot 'smart cities'As China accelerates the pace of its urbanization, the National Administration of Surveying, Mapping andGeoinformation unveiled its Smart City program on August 13 with the first nine selected pilot cities. It is expectedthat the construction of the first nine cities would be finished within about three years and gradually the programwould be expanded to the whole country. The nine cities are Taiyuan in Shanxi, Guangzhou in Guangdong, Xuzhouand Wuxi in Jiangsu, Linyi and Zibo in Shandong, Zhengzhou in Henan, Chongqing, and Huhan in Hubei (More).Mainland, Taiwan sign 75 cooperation dealsA total of 75 cooperation deals involving an investment of $3.94 billion were signed by people from the mainland andTaiwan at a cross-strait forum on trade and culture on August 13, 2013. 19 trade and economic agreements havebeen reached between the two sides of the Taiwan Strait since 2008 to boost across-strait relations (More).Business & IndustryPetroChina to develop giant oilfield in IraqPetroChina, biggest oil producer of china, will team up with US energy firm Exxon Mobil in developing Iraq's giantWest Qurna oilfield. PetroChina is also in talks with Lukoil, Russia's second largest oil company, to buy stakes inanother development project at the field, West Qurna-2. West Qurna is one of Iraq's largest oilfields, around 50 kmnorthwest of the southern oil hub of Basra. West Qurna is a central piece of Iraq's oil expansion plans, which couldpump more than 5 million barrels per day (bpd) (More).China's auto sales up 9.9 percent in JulyChina's auto sales rose 9.9 percent year on year to 1.52 million units in July. In the first seven months, sales totaled12.3 million units, an increase of 12 percent from the same period last year, but slower than the 12.3 percent rateseen in the first half. Auto output in the January-July period rose 12.46 percent from a year ago to 12.36 million units(More).China set as world's largest net oil importerChina is set to overtake the United States as the world's largest net oil importer from October, due to a combinationof rising Chinese demand and increased US production. In 2014, China's net oil imports will exceed those of the USon an annual basis and the gap between them will continue to widen. Presently, China is the biggest energy user inthe world and the second-largest oil consumer after the US. China imported 26.11 million tons of crude oil last monthand its exports were a mere 0.17 million tons (More).3

China warns of tit-for-tat over dairy ban - CII
China Pluse - Volume 6 No. 10 - October 2009 - CII