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Yeah lol, it will be reserve currency for China and HK.

This is the important bit of the article which ofcourse was left out by the 50 center. He posted every paragraph but avoided this one where below is written:

China accounted for 59 percent of the trade finance denominated in yuan in October and Hong Kong’s share was 21 percent, Swift data showed. Singapore had 12 percent with Germany and Australia having 2 percent each.

So basically, they claim currency penetration in foreign markets while in reality the vast majority (80%) of yuan trade financing is done inside China.

Smoke and mirrors game by chibots. That's why i love 'em. Their little games can be busted so easily....it's like practicing for when i'll have kids and they'll try to lie and i'll catch them :lol:
 
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Yeah lol, it will be reserve currency for China and HK.

This is the important bit of the article which ofcourse was left out by the 50 center. He posted every paragraph but avoided this one where below is written:

So basically, they claim currency penetration in foreign markets while in reality the vast majority (80%) of yuan trade financing is done inside China.

Smoke and mirrors game by chibots. That's why i love 'em. Their little games can be busted so easily....it's like practicing for when i'll have kids and they'll try to lie and i'll catch them :lol:

But it is included in my OP... are you blind? Maybe this explains why you false-flag - it's not intentional, your visual impairment made you select the wrong flag :rolleyes:

And even if 59% of the transactions are internal, the other 41%, which is not insignificant, still has to circumvent currency controls, which shows the sheer tenacity of China's economy and it's burgeoning gravity in the international trade system.
 
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Britain wants to be the largest overseas trading hub for the Yuan:

BBC News - UK government wants London to be Yuan trading hub

The British Chancellor of the Exchequer, George Osborne, has announced plans to make London a major international centre for trading China's currency.

During a visit to Hong Kong, George Osborne said: "London and Hong Kong are uniquely placed to assist in the development of this exciting market".

According to UK Treasury officials, the new partnership with Hong Kong puts London in pole position to be the major centre for trading the Chinese currency outside China and Hong Kong.

When this is completed, it will give another massive boost to the Yuan.
 
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Nothing surprising, larger is you economy more will your currency trade in international markets after all larger economies will have large trade numbers
 
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Yeah lol, it will be reserve currency for China and HK.

This is the important bit of the article which ofcourse was left out by the 50 center. He posted every paragraph but avoided this one where below is written:



So basically, they claim currency penetration in foreign markets while in reality the vast majority (80%) of yuan trade financing is done inside China.

Smoke and mirrors game by chibots. That's why i love 'em. Their little games can be busted so easily....it's like practicing for when i'll have kids and they'll try to lie and i'll catch them :lol:

The Singapore and Hong Kong exchanges just announced to cooperate on renminbi products.

The renminbi is not even a convertible currency but already other countries are using it and holding it as part of their forex reserves.

London is practically begging to be the next offshore renminbi centre.

Offshore renminbi deposits in Hong Kong, Taiwan, Singapore are rising like crazy.

Companies are issuing renminbi bonds and now the renminbi is the 2nd most used trade finance currency.

With each passing month, the renminbi is being used globally.

lol stay pressed bud.
 
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China's exports better than expected - Xinhua | English.news.cn
China's exports better than expected
English.news.cn 2013-12-08 20:22:15
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BEIJING, Dec. 8 (Xinhua) -- China's exports outperformed market expectations in November due to improved data in the United States and the European Union.

Exports went up 12.7 percent year on year in November and imports gained 5.3 percent year on year, according to the General Administration of Customs on Sunday.

November's export growth is above the market expectation of 7.0 percent, thanks to improved data in the United States and the European Union, said Liu Ligang, chief Greater China economist at ANZ Banking Group.

Foreign trade stood at 370.6 billion U.S. dollars in November, including 202.2 billion U.S. dollars of exports and 168.4 billion U.S. dollars of imports.

Trade surplus hit 33.8 billion U.S. dollars in November, the second month for China to report more than 30 billion U.S. dollars of trade surplus, Liu said.

In the eleven months, foreign trade gained 7.7 percent year on year to 3.8 trillion U.S. dollars.

China targeted foreign trade growth of 8 percent year on year in 2013. The target is higher than last year's real growth but below the 10 percent target set for last year.

Peng Wensheng, chief economist of China International Capital Corporation, said the Christmas season contributed to the rebound in November's exports.

Another reason for the year-on-year growth was the relatively low basis in November 2012, Peng said.

Chen Hufei, an expert with the Bank of Communications, warned "inflated export growth" was another possible factor to boost exports.

"Inflated export growth" basically involves arbitrage trading. It means that companies may misreport exports to obtain tax rebates or bypass government fund controls to channel fund into the mainland to profit from gaps in foreign exchange rates and interests rates.

"Inflated export growth" existed in exports of the first half year, Liu echoed.

But Zhao Jinping of the State Council's Development and Research Center took it as "negligible", though it might have existed.

Such behavior has prompted authorities to tighten supervision on trade flow.

The foreign exchange regulator on Saturday vowed to intensify supervision of commercial banks' trade finance to curb fake financing and prevent abnormal flows of cross-border foreign exchanges.

It will also step up supervision on companies with abnormal trade balances, especially those with abnormal rises in long-term trade financing and having typical traits of arbitrage.

Despite the upbeat data, Chinese manufacturers will still face difficulties as they are losing traditional competitive edges in prices because of higher costs and rising yuan, Zhao said.

The sharp trade surplus in November may further aggravate pressure for the yuan to appreciate, Chen echoed.

The November data is in line with China's official figures on its manufacturing expansion.

The purchasing managers' index stood at 51.4, the same as October, the National Bureau of Statistics said.

A reading below 50 indicates contraction, while that above 50 signals expansion.

China's economic growth in the first nine months stood at 7.7 percent, well above the government's full-year target of 7.5 percent.

Its next quarterly release on economic performances will be due in January 2014.

Related:

China's economy to grow 7.5%

BEIJING, Dec. 3 (Xinhua) -- China's economy is expected to expand 7.6 percent in 2013 and then edge down to around 7.5 percent in 2014, the State Information Center (SIC), a government think tank, has forecast.

The SIC advised the central government to set the economic growth target for 2014 at 7 percent in an effort to focus more effort on reform and adjusting the economic structure.
 
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China Nov passenger vehicle sales up 14.9 pct y/y -industry group

BEIJING Sat Dec 7, 2013 1:58am EST


BEIJING Dec 7 (Reuters) - Passenger vehicle sales in China rose 14.9 percent in November from a year earlier, according to the official English-language newspaper China Daily said on Saturday, quoting the the China Passenger Car Association.

Passenger vehicle sales for the first 11 months climbed 17.1 percent to 15.4 million units, meaning full year growth will be at least 15 percent, China Daily reported, quoting the association's data, released on Friday.

In October, total vehicle sales, which include sales of both passenger cars and commercial vehicles, in the world's biggest automobile market rose 20.3 percent from a year earlier, according to the China Association of Automobile Manufacturers (CAAM).

November's growth reflects a recovery in China's economy, but was also aided by a low year-ago base, when a flare-up in anti-Japanese sentiment triggered by a territorial dispute between the two countries slashed sales of Japanese cars.

CAAM will report China's overall vehicle sales for November on Tuesday.

In 2012, China's vehicle sales grew 4.3 percent due to a slowing economy and weakness in sales of Japanese cars.

(Reporting by Paul Carsten; Editing by Ron Popeski)

China Nov passenger vehicle sales up 14.9 pct y/y -industry group| Reuters
 
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Nov CPI falls back to 3%

Global Times | 2013-12-9 23:38:07

By Zhao Qian

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A woman buys milk in a supermarket in Ganyu, East China's Jiangsu Province on Monday. Photo: IC



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CPI and PPI


China's consumer price index (CPI), the main gauge of inflation, slowed unexpectedly to 3 percent year-on-year in November, down from 3.2 percent in October, official data showed Monday, easing market concerns about possible tightening of monetary policy by the country's central bank.

The year-on-year food price index fell to 5.7 percent in November from 6.5 percent in October, partly driven by a decline in vegetable and pork prices, while the non-food price index remain unchanged at 1.6 percent, according to data released by the National Bureau of Statistics (NBS).

Individual components of the month-on-month food price index saw mixed performance in November, with prices for beef, mutton, milk and fruit rising slightly, and prices for pork, eggs, vegetables and aquatic products declining, according to an analysis report by Yu Qiumei, a senior statistician at the NBS, published on the bureau's official website Monday.

The 3 percent CPI reading could let the markets "breathe a sigh of relief," Lu Ting, China economist with Bank of America Merrill Lynch, said in a research note sent to the Global Times Monday.

In the past few weeks, markets "have been worried that the central bank could be forced to tame rising CPI inflation by tightening credit supply," said Lu.

The 3 percent CPI growth "indicated moderate inflation in China's economy," Liu Ligang, chief economist at ANZ Banking Group, told the Global Times Monday.

Liu said the growth momentum for China's economy "will not be very strong" next year given the negative growth in the producer price index (PPI) this year.

The PPI, a gauge of inflation at the wholesale level, declined by 1.4 percent year-on-year in November, compared to a 1.5 percent drop in October.

"The PPI decline shows that enterprises still face difficulties," Lu Zhengwei, chief economist with Industrial Bank Co, told the Global Times Monday.

Lu suggested that the central bank reduce interest rates so as to support the economy's stable development.

Lu Ting of Bank of America Merrill Lynch said he didn't expect the government to tighten monetary policy, partly because "the chance that monthly inflation will be sustained at the official cap of 3.5 percent or above is low."

He also said the government is unlikely to react to monthly inflation readings, as they are subject to many temporary factors and base effects.

Chinese Premier Li Keqiang has reiterated several times this year that the upper limit for the country's CPI is 3.5 percent.

With regard to the outlook for the country's economy, Liu predicted that GDP growth will range from 7 percent to 7.5 percent in 2014.

Concerning inflationary pressure next year, Lu Ting said the average CPI could rise to 3.1 percent in 2014 from 2.7 percent in 2013, partly because inflation could rise amid stabilizing domestic economic growth, the slowly improving global growth outlook and higher home prices in major Chinese cities.

China on track to meet retail sales target: official

China is on track to achieve its target of boosting retail sales by an annual average of 14 percent between 2011 and 2015, even amid a modest slowdown in growth this year, Commerce Minister Gao Hucheng said in remarks published Monday.

Retail sales are likely to grow by 13 percent for 2013, slowing from the annual average rise of 15.7 percent in the previous two years, due to weaker household incomes and a crackdown on official extravagance, Gao said in comments published on the ministry's website.

Retail sales from January to October grew 13 percent, 1.1 percentage points lower than in the same period of 2012, official data showed.

"The economy will maintain steady growth," Gao said, "and the long-term mechanism for expanding consumption will improve, which will help unleash the huge potential of China's consumption."

Consumption will be boosted by strong demand for healthcare services for the elderly, leisure, tourism and sales of energy-saving appliances, smartphones and tablet PCs, Gao noted.

Gao said he expects China's retail sales, a key gauge of domestic consumption, to top 50 trillion yuan ($8.22 trillion) by 2020.

Retail sales increased from 9.4 trillion yuan in 2007 to 21 trillion yuan in 2012, with an average yearly growth of 17.6 percent. Consumption accounted for 55 percent of China's GDP in 2012, up from 39.6 percent in 2007, he noted.

Reuters - Global Times

Nov CPI falls back to 3% - BUSINESS - Globaltimes.cn
 
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10 December 2013 Last updated at 07:15 GMT

China factory output and retail sales fuel recovery hopes
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Manufacturing has been a key driver of China's growth over the past few years

China's industrial output and retail sales rose in November, the latest in a series of signs indicating a recovery in the world's second largest economy.

Factory output rose 10% from a year ago and retail sales were up 13.7%. This follows a stronger than expected jump in exports in November.

Data released on Tuesday also showed a jump in Fixed Asset Investment.

China's economy has shown signs it is picking up pace after its growth rate slowed in first half of the year.

Its economy grew 7.8% in the three months to September from a year earlier, up from the 7.5% expansion recorded for the previous three months.

The improvement up has been fuelled in part by a recovery in demand for Chinese exports from key markets such as the US and European Union.

Data released over the weekend showed that China exports, a key component of its economy, rose 12.7% in November from a year ago.

At the same time, the Chinese government has also announced various stimulus measures over the past few months to help spur growth.

These include tax breaks for small businesses and reduced fees for exporters.

Analysts said these factors were helping to fuel a recovery in the Chinese economy.

BBC News - China factory output and retail sales fuel recovery hopes
 
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http://www.worldipreview.com/news/china-fuels-surge-in-global-ip-growth

10-12-2013

A rapid increase in IP filings in China and by its citizens is driving global IP growth, a report has shown.

The report, published on December 9 by the World Intellectual Property Organization (WIPO), shows that Chinese residents filed and its IP office handled the most patents, utility models, industrial designs and trademarks.

It is the first time that China has topped both of those measures.

The 2013 World Intellectual Property Indicators reveals that global patent filings grew by 9.2 percent last year. Utility model (UM), industrial design and trademark filings were up 23.4 percent, 17 percent and 6 percent respectively.

WIPO director general Francis Gurry said that while economic recovery since the 2009 financial crisis has been uneven and has failed to bring down unacceptably high levels of unemployment, “IP filings have increased at a faster rate than before the crisis”.

With about 2.35 million patents filed, the global growth in patents was the fastest in 18 years. Following a 3.9 percent decrease in 2009, filings began increasing in 2010 (7.6 percent) before rising again in 2011 (8.1 percent) and jumping further in 2012 (9.2 percent).

China was heavily responsible for these figures. For the first time, Chinese residents filed the most patents (560,681) worldwide, while the State Intellectual Property Office of the People’s Republic of China (SIPO) handled 652,777 applications, making it the largest office for the second year running.

Turning to trademarks, the report breaks the figures down into the number of classes specified in applications (class counts). In 2012 there were 6.58 million class counts, representing a 6 percent increase from 2011.

Chinese residents filed about 1.58 million class counts, while SIPO received 16.5 percent more than last year, though Turkey (24.1 percent) showed the strongest growth of any IP office. Some IP offices in the European Union, for example Italy (8.3 percent) and Germany (6.4 percent), recorded fewer class counts than in 2011.

The growth (17 percent) in industrial designs last year was the highest since design counts records became available in 2004; about 1.22 million designs were filed worldwide. The Russian Federation’s IP office led the way, with a 29.5 percent growth in designs, followed by SIPO, with 26.1 percent.

While the growth in UMs (23.4 percent) was high, it fell short of the previous year’s rate of 34.7 percent. SIPO saw a 26.4 percent rise in UM applications.

SIPO was the only office to record double digit growth across all four IP areas.

Ralph Loren, partner at Edwards Wildman Palmer LLP, said the rise in patent and trademark filings in China is “the headline for everyone”, though he noted that a majority of those applications came from local residents.

“China is filing heavily in China, but the question is why? Is it to keep other people out? Is it to populate other patent offices? Is it companies doing business in China and their Chinese partners filing? I don’t think we know.

“Chinese patent law could be behind it,” Loren continued, as amendments to the country’s patent legislation in 2008 required Chinese residents seeking to file patents abroad to file first in China. “It does skew the statistics.”

China has often been criticised in the West for having a poor record of combating IP infringement, but recent changes in the country’s trademark legislation are going some way to addressing the perceived problems

Loren said: “The total numbers are very high, which is interesting because it looks like China is actually trying to protect IP – their own first – and they’re looking like the rest of the world.

“Overall, the report is good news ... Financially, as money comes back in, people start filing, and as money goes out, people start suing.”

The report is available here.

wipo, world intellectual property indicators, francis gurry, sipo, patent filings
 
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This is anti climax given that China is the world largest violator of IP :lol:
However, I am sure most of the IPs filled from China are spurious.
 
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This is anti climax given that China is the world largest violator of IP :lol:
However, I am sure most of the IPs filled from China are spurious.

Another cluesless indian who is churning with acid.

It is not a climax but just a natual ascension of our applications on various fronts and the reinforcement of the patent and IP laws.
 
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