China economy news and updates

[Brotherhood]

Chinese products dominate online game industry sales - People's Daily Online January 21, 2011

The country's online game industry generated 32.37 billion yuan ($4.92 billion) in sales revenue in 2010, of which 59.6 percent came from the country's own products.

The statistics were released in a report during an ongoing annual conference of China's online game industry, running from January 18 to 21.

A total of 356 products were developed independently by China's domestic companies in 2010, 35 more than the previous year, the report said.

Meanwhile, China's 82 original online game products developed by 34 domestic com-panies were available in 40 foreign countries and regions last year, with sales revenue reaching $230 million, up 111 percent year on year, according to the report.

This was the fifth year for China's original online game products to remain domi-nant in this industry, said Sun Shoushan, deputy director of the General Administration of Press and Publication, when addressing the annual conference Wednesday.

Source: Xinhua

 

[Martian2]

I thought Agnostic Muslim didn't want any economy posts?

You can make your posts at SinoDefence or Indian Defence. SinoDefence has over 6,500 members and lots of guests. Indian Defence is relatively new, but they already have over 400 members.

Option #1: SinoDefence has an economy section in the "Members section":

www . sinodefence . com

Option #2: My Indian friends at Indian Defence would welcome your economy posts.

Chinese Defence Forum

Option #3: PakistaniDefence will let you post whatever you want in the Chinese forum. It's practically not moderated, but the forum software is different. They have over 10,000 members.

http://forum.********************/index.php?showforum=15

 

[Brotherhood]

I thought Agnostic Muslim didn't want any economy posts?

SinoDefence has an economy section:

http://www.*********************/


My Indian friends at Indian Defence would welcome your economy posts.

Chinese Defence Forum

Bro, webmaster had aproved a new sticky for China economy, but i don't know how to make it a sticky though.

 

[ao333]

Is a growing gaming industry, good or bad...?

 

[Martian2]

Is a growing gaming industry, good or bad...?

Definitely good. If you don't capture the gaming dollars then foreigners will dominate and make easy profits.

 

[Brotherhood]

China's economic momentum to continue as inflation is controllable this year: CAS - People's Daily Online January 23, 2011

China's economic growth is expected to maintain its relatively fast growth as the nation will be able to keep inflation manageable, a leading government think tank said Saturday.

Experts with the Chinese Academy of Sciences (CAS) forecast that the country's economy will first grow at a faster pace this year before it eases, as domestic demand will be a major force to drive growth.

Investment growth will likely quicken while the growth rate in exports and imports will slow compared to last year, CAS experts said in an annual report released Saturday forecasting China's economic growth.

"Inflation is still the biggest obstacle facing China's economic growth this year," said Yang Xiaoguang, a senior expert with the CAS.

China's consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in December year-on-year and 3.3 percent for the whole of 2010, breaking the government's 3 percent inflation ceiling.

But Yang said a severe and prolonged inflation would not likely occur this year because the overall supply of agricultural produce is stable and the value of the Chinese currency is rising, which would reduce prices of imports.

Source:Xinhua

 

[casual]

why havent i heard of any chinese games then?

 

[Brotherhood]

China's Haier sees profit up 78% - People's Daily Online January 23, 2011

Haier Group, one of the world's leading white goods and household appliance manufacturers, announced Sunday that its profit jumped 78 percent year on year in 2010.

The profit hit 6.2 billion yuan (941.8 million U.S. dollars) in 2010, said Du Fangyuan, a press office coordinator of the company.

Haier's sales revenue reached 135 billion yuan in 2010, up nine percent from a year earlier, Du said.

The growth can be attributed to the group's successful transition of business model and product innovations, Du said.

Haier Group, which is headquartered in east China's Qingdao city and has 60,000 global employees, sells its products in over 100 countries and regions around the world.

Source:Xinhua

 

[Brotherhood]

China's banking assets grow 19.7% in 2010 - People's Daily Online January 21, 2011

The total domestic assets of Chinese financial institutions in the banking sector rose 19.7 percent year on year in 2010 to 94.3 trillion yuan (14.31 trillion U.S. dollars), China's banking regulator said Friday.

Financial institutions in the banking sector refers to commercial banks, deposit-taking urban- and rural-credit cooperatives and policy banks.

Their combined liabilities rose 19 percent year on year to 88.4 trillion yuan in 2010, the China Banking Regulatory Commission (CBRC) said.

Large-scale commercial banks' assets grew 14.4 percent to 45.9 trillion yuan last year.

The assets of joint-stock commercial banks rose to 14.9 trillion yuan, up 26.1 percent from a year earlier, the statement posted on the CBRC website said.

The liabilities of large-scale commercial banks rose 13.5 percent year on year to 43 trillion yuan.

The liabilities of joint-stock commercial banks increased 25.2 percent to 14 trillion yuan.

Source:Xinhua

 

[below_freezing]

why havent i heard of any chinese games then?

our games are marketed towards east asia/southeast asia, and are primarily free online RPGs that make money from advertisements.

 

[中国万岁-ProsperThroughCo-]

scmp
Hu garners good reviews for stopover in Chicago

Ng Tze-wei in Chicago
Jan 23, 2011

President Hu Jintao was in Chicago for less than 24 hours but his choice of the Midwestern city as a second stop appeared to have hit the right note with Americans.
In the national news cycle, Hu's visit to Chicago has receded from front page to opinion pages, even in local papers. But the reports have mostly portrayed it in a positive light, and saw it as recognition of a rising Chicago - a traditional industrial rust-belt city turned sleek financial and cultural centre.

The two main purposes of the Chicago leg were to make contact with many key US enterprises that are based there and tout Chinese enterprises doing business in the US that have created jobs for Americans.

"There are many Chinese businesses that have chosen to locate in the Chicago region, and we appreciate their decision to do so," Mayor Richard Daley said at an exhibition set up by China General Chamber of Commerce-USA featuring nine Chinese companies doing business in the city, from car parts maker Wanxiang America Corporation to Huawei Technologies and China Telecom (SEHK: 0728) (Americas).

"Our long-range goal is to make Chicago the most China-friendly city in the United States," he said.

While business ties were highlighted, Hu's visit to Walter Payton Preparatory High School could easily have been the highlight of the trip for both him and the audience. At the school he was treated to performances by pupils including a choir and a Chinese handkerchief dance.

The school is also home to the largest Confucius Institute - a Chinese-government-backed organisation aimed at promoting Chinese language and culture.

Yesterday was a day of examinations at the school, but pupils said they were excited about the visit.

"I think it's fantastic to see the president of China, which is like a huge world power, to see him in our school auditorium," Grade 12 pupil Helenka Mietka said. "I've heard negative things about China like human rights and pollution; I don't think I'm well informed enough to judge. But I think it's a good thing that co-operation is going on."

Grade 10 pupil Chantae Howell said she was learning Chinese because she thought it would be good for business.

She thought the visit was "cool" even though she did not agree with some of the Chinese president's policies such as that on Tibet ; she is planning to sign up for a trip to China in the next school year.

Eric Cheung, an immigrant from Hong Kong in Grade 10, said he thought the visit showed that Hu "cared about how schools in other countries are doing, and that he can make schools in China better".

He said he was learning Putonghua because he wanted to go back to China to work one day.

David Lampton of Johns Hopkins University in Baltimore said in an earlier interview that Hu's visit to Chicago or any Midwestern city "is in some sense as important as a visit to Washington".

"One of the big needs for the Chinese is to put a human face on China for the American people. And in Chicago he's [exposed] to more civilian aspects of the American society."

 

[Chinese-Dragon]

Is a growing gaming industry, good or bad...?

Young people are going to spend money on video games anyway.

So it is better if their money goes back in to the domestic industry, instead of sending their money overseas to foreign companies.

 

[中国万岁-ProsperThroughCo-]

Young people are going to spend money on video games anyway.

So it is better if their money goes back in to the domestic industry, instead of sending their money overseas to foreign companies.

I think the most important aspects are to offer games completely suited for Chinese preferences (is there a really good RTS game based on Chinese history??) , and also boosting the skills and creativity needed for running a gaming industry.

China has the will, people, money and size to not only excel at certain industries, but ALL industries. Gaming industry should also be included. One must also regard the gaming industry as a step towards an excellent high-tech/computer industry.

One should also be aware of the dangers of gaming though - one can easily be addicted. Implementing parental control or good education may be a solution.

Personally, I learnt much history from Age of Empires 2, and still had iron discipline to do homework first. So it really depends on each person and game whether games are beneficial for people..

 

[truthseeker2010]

China economy to grow 9.8% in 2011: think tank

BEIJING — A Chinese government think tank has forecast the nation's economy will grow around 9.8 percent this year, with inflation likely to come in at 3.7 percent, state media reported Sunday.

Experts at the Chinese Academy of Sciences also predicted that gross domestic product would rev up in the latter part of the year, and would be driven largely by domestic consumption, the official China News Service said.

The consumer price index (CPI), the main gauge of inflation, would likely be highest in the first quarter of the year due to rising commodity prices and salaries, and would then drop for the remainder of 2011, the report added.

China's economy grew 10.3 percent in 2010, marking the fastest annual pace since the onset of the global crisis, and the CPI rose 3.3 percent, exceeding the government's full-year target of three percent as food costs soared.

Unlike other countries struggling to spur growth, Beijing has been trying to slow its economy and stem a flood of liquidity that is fanning inflation and driving up property prices.

The central bank has raised interest rates twice since October, and has also increased the amount of money banks must keep in reserve, in a bid to curb lending.

 

[Chinese-Dragon]

China economy to grow 9.8% in 2011: think tank

BEIJING — A Chinese government think tank has forecast the nation's economy will grow around 9.8 percent this year, with inflation likely to come in at 3.7 percent, state media reported Sunday.

Experts at the Chinese Academy of Sciences also predicted that gross domestic product would rev up in the latter part of the year, and would be driven largely by domestic consumption, the official China News Service said.

The consumer price index (CPI), the main gauge of inflation, would likely be highest in the first quarter of the year due to rising commodity prices and salaries, and would then drop for the remainder of 2011, the report added.

China's economy grew 10.3 percent in 2010, marking the fastest annual pace since the onset of the global crisis, and the CPI rose 3.3 percent, exceeding the government's full-year target of three percent as food costs soared.

Unlike other countries struggling to spur growth, Beijing has been trying to slow its economy and stem a flood of liquidity that is fanning inflation and driving up property prices.

The central bank has raised interest rates twice since October, and has also increased the amount of money banks must keep in reserve, in a bid to curb lending.

Well, China grew "faster than expected" in 2010 as well, despite the predictions.

9.8% is still very healthy though. As long as inflation can be kept under control... and I know some people dispute the official figure for inflation during 2010 which was 3.3%.