China Economy - News & Updates

[grey boy 2]

China strives for faster retail growth - People's Daily Online

12:10, November 29, 2009

China will strive for a higher growth rate for retail sales in 2010 with a bigger contribution tonext year's GDP increase, the Ministry of Commerce (MOC) said on Saturday.

Consumption was the key drive force for China's economic recovery in 2009, said Jiang Zengwei, vice minister of commerce, at a forum in Beijing on the development and reform of China's circulation industry.

The country's economy grew 8.9 percent year on year in the third quarter this year, accelerating from 7.9 percent in the second quarter and 6.1 percent in the first quarter, according to the National Bureau of Statistics (NBS).

The MOC will take measures to boost both rural and urban consumption in 2010 to push up economic growth, said Jiang.

He said the MOC will expand the "old-for-new" program to encourage more consumers to buy new cars and home appliances on a basis of discount if they give up their old ones to sellers.

Credit consumption and sales promotion, especially those during holidays, will also be encouraged by the MOC, according to Jiang.

The country's retail sales are predicted to increase 18.2 percent year on year in 2010, boosted by domestic consumption and income growth, according to a recent report by Beijing-based Renmin University of China.

The NBS data showed retail sales in October rose 16.2 percent year on year to 1.17 trillion yuan (171.3 billion U.S. dollars).

Source: Xinhua

 

[grey boy 2]

China takes fast lane in growth - People's Daily Online

10:45, December 02, 2009

China's manufacturing sustained rapid growth in November, shored up by the country's strengthened economy and improved profit margins among producers, according to a pair of definitive indexes released Tuesday.

An index produced for HSBC, based on a poll of purchasing executives in manufacturing, hit a record high of 55.7 in November, while a parallel official index was unchanged at an 18-month peak of 55.2.

Together, the surveys showed that China's economy has largely recovered from the global downturn thanks to aggressive pro-growth measures adopted a year ago.

The official Purchasing Managers' Index, measuring manufacturing activity, settled at 55.2 last month, the same as the figure in October and up from 54.3 in September, the China Federation of Logistics and Purchasing said.

STEADY TREND

The PMI, which includes forward-looking elements such as orders for sales, has been above 50 for nine straight months and extended the 18-month high in November reached the previous month.

A reading above 50 refers to expansion.

HSBC's China Purchasing Managers' Index rose to a record high of 55.7 in November from 55.4 in October, Reuters reported.

The index, based on a survey dating back to April 2004, has steadily recovered from a record low of 40.9 in November 2008 in the depths of the global credit crunch.

It is the eighth month in a row that the index, designed to provide a timely snapshot of business conditions in industry, has been above the watershed of 50.

"The growth momentum in China's PMI suggests industrial production is improving steadily," said Sherman Chan, an economist at Moody's Economy.com.

DIFFERENT VIEWS

The official PMI sub-index for production increased 0.1 from a month earlier to 59.4 in November. New orders slipped 0.1 to 58.4.

Industries including textile, apparel, tobacco, metal production and transport equipment manufacturing reported gains in new orders.

HSBC's new export orders sub-index rose in November to 57.5, the highest level since March 2005.

According to Reuters, respondents said they were seeing stronger demand because of a global recovery.

As is often the case, the two indexes told slightly different tales. Whereas HSBC's survey is slanted toward privately owned, export-oriented firms, the official one is weighted more heavily toward big domestic companies.

As government pump-priming gradually lost momentum, demand would be driven more by the private sector, Reuters quoted Zhang Liqun, a government economist, as saying.

"Such a change is positive, showing that China's economic growth is becoming more stable and sustainable," said Zhang, who works for the Development Research Center, a think-tank under the State Council, China's Cabinet.

Source: Shanghai Daily

 

[Seadog1]

China per capita income is only 6000 a year, that still makes China very very poor...

 

[grey boy 2]

China per capita income is only 6000 a year, that still makes China very very poor...

HaHa, nice try, curry boy, Chinese won't feel bad with your rant, but

you did create for yourself a lot of enemies= people that made less

than that. Now, get lost, troll.

 

[aimarraul]

China per capita income is only 6000 a year, that still makes China very very poor...

of course china is very poor,china's urbanization rate is still less than 50%,that's one of the reasons why chinese are very optimistic about our country's future，huge potential is there

 

[Seadog1]

of course china is very poor,china's urbanization rate is still less than 50%,that's one of the reasons why chinese are very optimistic about our country's future，huge potential is there

Not everybody thinks so....

In China, it is possible to completely lose your dignity as human being. Waking up day after day to find only hunger, misery, infinite injustice and no future; the dignity of being a human being is nowhere to be found – and never was. All that is left is to live as a beast.

This is what has happened to over 800 million farmers in China this year: the land they work is not their own, their crops belong to the Chinese communist party, to which they owe taxes, labor and obedience. So just like animals migrate, millions of these poor farmers try to become workers instead of beasts of burden by moving to the city. Here they morph into clandestine citizens – as the law does not grant them with resident permits for the cities – then into Mingongs ("min"=farmer, "gong"=work). Mingongs are clandestine nonentities with neither a past nor a future, human fuel for the unstoppable Chinese production machine, slaves to be exploited.

The Mingong: Half Animals, Half Laborers

Chinas in for a rough ride, half capitalist, half communist,,,I hope it succeeds.

 

[conworldus]

Err... what you read is called fabrication and that's not China. We are adding more law to protect private properties and farmers do not pay tax at all for selling their crops (the tax was eliminated 3 years ago I think). The government does not own the crops. Hunger has been eliminated in China for a long time.

Rural China is in fact booming now days with more and more entreprenuership incentives. Obstacles remain but the progress has been great. Yes many migrant workers work in cities to earn better wages, but their families still have farmland back home that they can return to. Not only this provides good labour, it also trains the workers and many smart ones return home to start their own business. Labour laws are improving in China and salaries have been rising. The working condition in most factories now are meeting international standard. The workers work by contract, not slavery. Slavery is not legal in China.

Regardless, we are doing great and thx for your concern. But you don't need to.

Not everybody thinks so....

In China, it is possible to completely lose your dignity as human being. Waking up day after day to find only hunger, misery, infinite injustice and no future; the dignity of being a human being is nowhere to be found – and never was. All that is left is to live as a beast.

This is what has happened to over 800 million farmers in China this year: the land they work is not their own, their crops belong to the Chinese communist party, to which they owe taxes, labor and obedience. So just like animals migrate, millions of these poor farmers try to become workers instead of beasts of burden by moving to the city. Here they morph into clandestine citizens – as the law does not grant them with resident permits for the cities – then into Mingongs ("min"=farmer, "gong"=work). Mingongs are clandestine nonentities with neither a past nor a future, human fuel for the unstoppable Chinese production machine, slaves to be exploited.

The Mingong: Half Animals, Half Laborers

Chinas in for a rough ride, half capitalist, half communist,,,I hope it succeeds.

 

[Seadog1]

Err... what you read is called fabrication and that's not China. We are adding more law to protect private properties and farmers do not pay tax at all for selling their crops (the tax was eliminated 3 years ago I think). The government does not own the crops. Hunger has been eliminated in China for a long time.

Rural China is in fact booming now days with more and more entreprenuership incentives. Obstacles remain but the progress has been great. Yes many migrant workers work in cities to earn better wages, but their families still have farmland back home that they can return to. Not only this provides good labour, it also trains the workers and many smart ones return home to start their own business. Labour laws are improving in China and salaries have been rising. The working condition in most factories now are meeting international standard. The workers work by contract, not slavery. Slavery is not legal in China.

Regardless, we are doing great and thx for your concern. But you don't need to.

Are you sure you would know....

How would you like to live in a world without facebook, YouTube, Twitter and Flickr etc. What would you do if I tell you starting from tomorrow you are not allowed to access these sites anymore? As many of you probably already know, this is actually a reality in China – a country which has the highest number of internet users. Due to censorship policy in China, especially Internet Censorship, as for now, Twitter, YouTube, Facebook and Flickr etc. are all blocked by the GFW – Great Firewall of China.

 

[bigmoneymaker]

Are you sure you would know....

How would you like to live in a world without facebook, YouTube, Twitter and Flickr etc. What would you do if I tell you starting from tomorrow you are not allowed to access these sites anymore? As many of you probably already know, this is actually a reality in China – a country which has the highest number of internet users. Due to censorship policy in China, especially Internet Censorship, as for now, Twitter, YouTube, Facebook and Flickr etc. are all blocked by the GFW – Great Firewall of China.

dude, not a single website in this world is neutral since certain websites are just flooded by certain groups of people holding and running the administration of website....lets say if your a true pakistani and see some biased western propaganda against pak in these website you mentioned and all euro and americans users think that it is correct and pointing the fingers of blame on pak and defame islam??? if now china is stronger than usa in terms of national strength then all this situation will be totally inverted...then it should be usa trying everything to block the incoming chinese influential websites which may guide the simple minded western youths in favor of china....i hope you understand this and stop making your childish remarks about the rising but still weak china in a wrong section....get it??? reason stated.....most of chinese are sleeping now and i am going to sleep too, good night...reminder, you should get know to real chinese people by learning up mandarin if you really care for chinese people and dont just stand there reading outdated english comments on chinese development if you are a true pakistani...WHAT YOU SAID WAS TRUE IN A FEW YEARS AGO BUT NOW THINGS ARE IMPROVING AT A MUCH FASTER RATE EVEN BEYOND MY IMAGINATION IN CHINA, HOPE THIS HELP THOSE OUTSIDERS OBSERVING CHINA LATEST DEVELOPMENT THROUGH THE EYES OF WESTERN MEDIA WAKING UP, INCLUDING MYSELF.........

 

[Omar1984]

dude, not a single website in this world is neutral since certain websites are just flooded by certain groups of people holding and running the administration of website....lets say if your a true pakistani and see some biased western propaganda against pak in these website you mentioned and all euro and americans users think that it is correct and pointing the fingers of blame on pak and defame islam??? if now china is stronger than usa in terms of national strength then all this situation will be totally inverted...then it should be usa trying everything to block the incoming chinese influential websites which may guide the simple minded western youths in favor of china....i hope you understand this and stop making your childish remarks about the rising but still weak china in a wrong section....get it??? reason stated.....most of chinese are sleeping now and i am going to sleep too, good night...reminder, you should get know to real chinese people by learning up mandarin if you really care for chinese people and dont just stand there reading outdated english comments on chinese development if you are a true pakistani...WHAT YOU SAID WAS TRUE IN A FEW YEARS AGO BUT NOW THINGS ARE IMPROVING AT A MUCH FASTER RATE EVEN BEYOND MY IMAGINATION IN CHINA, HOPE THIS HELP THOSE OUTSIDERS OBSERVING CHINA LATEST DEVELOPMENT THROUGH THE EYES OF WESTERN MEDIA WAKING UP, INCLUDING MYSELF.........

The guy, SeaDog is most likely another indian pretending to be Pakistani. Check out his previous posts, he even makes negative comments on Pakistan and Pakistanis.

Every Pakistani on earth wants China to succeed.

 

[grey boy 2]

The guy, SeaDog is most likely another indian pretending to be Pakistani. Check out his previous posts, he even makes negative comments on Pakistan and Pakistanis.

Every Pakistani on earth wants China to succeed.

Well said brother, I been watching this SeaDog guy for some time, all

his post was hiding behind a Pakistan flag doing his Pakistan bashing,

He is a damn coward, and now he started to bash Chinese with the

protection with the Pakistan flag. Hope Mod. will do something about

it soon.

 

[Seadog1]

Well said brother, I been watching this SeaDog guy for some time, all

his post was hiding behind a Pakistan flag doing his Pakistan bashing,

He is a damn coward, and now he started to bash Chinese with the

protection with the Pakistan flag. Hope Mod. will do something about

it soon.

How would you like to live in a world without facebook, YouTube, Twitter and Flickr etc. What would you do if I tell you starting from tomorrow you are not allowed to access these sites anymore? As many of you probably already know, this is actually a reality in China – a country which has the highest number of internet users. Due to censorship policy in China, especially Internet Censorship, as for now, Twitter, YouTube, Facebook and Flickr etc. are all blocked by the GFW – Great Firewall of China.

The above is a fact.

Dont you think its strange such a simple fact, would get such a hysterical reaction...and such violent personal attacks..much worse has been said in here about many countries. Dont you think this site should be a place for debate and discussion rather then personal attacks and censorship....

 

[grey boy 2]

Isnt it strange a few simple truths, would get such a hysterical reaction...and such violent personal attacks..much worse has been said in here about many countries.

Give it up man, i could smell you miles away, not interesting to reply

to someone with identity crisis.

Truth ? do you have this word in your dictionary ?

Get lost, troll.

 

[grey boy 2]

Economic growth expected for China in 2010: UN report - People's Daily Online

08:20, December 03, 2009

China's economic growth is projected to reach 8.8 percent in 2010, but will still fall short of pace according to pre-economic crisis levels, a new UN economic report said here on Wednesday.

A preview of the annual economic report, which was launched here at the UN Headquarters in New York, recognized that the global "economic revival" is a byproduct of the massive fiscal stimulus by governments worldwide toward the end of 2008.

According to the report, the world economy is expected to slowly rebound in 2010 where developing Asia would lead the pack in the strongest recovery.

India was also listed as another developing country where economic growth would take place, at a projected rate of 6.5 percent.

According to the report, China has experienced a surge in outward investment, which reached an estimated 150 billion U.S. dollars in 2009. This was compared to the outflows of capital from emerging economies to other developing countries which had "moderated" in the last two years.

Citing that "investors in emerging economies recoiled along with those in developed countries," the report noted that China was "bucking the trend."

Warning that the economic recovery was "uneven and conditions for sustained growth remain fragile," the report urged "rebalancing global growth." This was needed, the report warned, in order to avoid the recurrence of another global imbalance.

The annual report which is scheduled to be released next month is produced by the UN Department of Economic and Social Affairs (DESA), the UN Conference on Trade and Development (UNCTAD), and five UN regional commissions.

Source: Xinhua

 

[Kuuba]

How would you like to live in a world without facebook, YouTube, Twitter and Flickr etc. What would you do if I tell you starting from tomorrow you are not allowed to access these sites anymore? As many of you probably already know, this is actually a reality in China – a country which has the highest number of internet users. Due to censorship policy in China, especially Internet Censorship, as for now, Twitter, YouTube, Facebook and Flickr etc. are all blocked by the GFW – Great Firewall of China.

The above is a fact.

Dont you think its strange such a simple fact, would get such a hysterical reaction...and such violent personal attacks..much worse has been said in here about many countries. Dont you think this site should be a place for debate and discussion rather then personal attacks and censorship....

Frankly speaking, I don't like GFW, which was created to solve one issue but created another. However, just let you know, we could bypass the wall if we want or we could simply choose countless domestic "youtube"s - faster and easier to use. And the most important is, people lived very well without youtube for years. It's not a fundamental element of people's daily life.

I am not a guardian of the censorship. However, I believe that in a developing country with 1.3 billion population, stability is more important than "free speech". We are extremely scrupulous on this point because we can't afford any anarchy.

I believe many years later, when our country is ready, we will be there. I have confidence.