China Financial News Headlines

October 3, 2008

Economic Improvement and Great Prospect in China

Filed under: financial news — Tags: , , , — Nancy @ 1:11 pm -0500

Beijing Olympic Gymnasium and Stadium become the New Tourist Attraction
According to the statistics from Beijing Holiday Tourism Office, until 2:15 pm on October 3, the central area of Beijing Olympic Park received 350 thousand people at that day, and on October 1, it received 354 thousand people in the whole day.

October 1, Golden Week: Visitors of Bird Nest and Water Cube Over the Palace Museum
During the October 1, Golden Week, Bird Nest and Water Cube become the most attractive places in Olympic Park. The number of visitors has been exceeded the Palace Museum.

August: Sales Volume of Hundreds of Big National Retail Companies increased 17.31% year-on-year
China Industrial Information Issuing Center (CIIIC) released the data that the sales volume of our national retail companies was 22100 million yuan, which increased 17.31%, among which, the retail volume reached 18423 million yuan, which increased 18% compared with the same period last year.

Abundant Labor Supply promotes the Growth of Economy
In 2008, China not only faces the complex and grim international economic environment, but also the increasing prices and other pressures. However, China has the confidence to overcome various difficulties and maintain stable and rapid economic development, as there is a important factor that China has abundant labor supply, which will be a booster of Chinese economic growth.

Chinese Urbanization Level continues to increase rapidly
Recently, the reporters learn from Ministry of Housing and Urban-Rural Development of the People’s Republic of China (MOHURD) that Chinese urbanization level increases continuously and rapidly, while the urban system has gradually improved.

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Import, Export and Investment Status Quo

Thailand Exports to China slow down as a result of the global economy
Kasikorn Research Center reported on Oct 3 that Thailand exports to China have slowed down as the slowdown in global economic growth.

Naqu logistics Center of the Qinghai-Tibet Railway Construction Progress smoothly with 1.5 Billion Investment
A total investment of 1.5 billion yuan, Tibet largest Logistics Center - Naqu Logistics Center of the Qinghai-Tibet Railway construction progress smoothly. Under the effort of China Railway Construction Group, Qinghai-Tibet Railway Nagqu logistics center project has been completed 8400 thousand cubic meters of earth and stone, which occupied 70% of the total project amount. This project will be officially put into operation in June 2009.

Direct Investment from European Enterprises to Taiwan was 25 Billion USD
According to the data from the European Business Association, the direct investment from European enterprises to Taiwan was 25 billion USD, while the industries involve medicine, transport, telecommunications, electricity, finance, high technology and so on. Since 2004, European import and volume has been increasing all the time. Nearly 700 members of European Business Association in Taiwan are from 420 companies.

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Hong Kong Special Administrative Region government will continue to strengthen Ties and Exchange with Taiwan
Hong Kong Special Administrative Region Government and the Mainland Affairs Secretary Lin Ruilin expressed on Oct. 3, now cross-strait relation has walked into a new situation, the Hong Kong Special Administrative Region and Taiwan will further strengthen ties and exchanges with Taiwan. He also hoped that both the Mainland and Taiwan enterprises would come to Hong Kong financial market in their mature development.

Four Domestic Major Iron and Steel Enterprises plan to cut 20% production capacity
Four Major Enterprises in China: Shougang, An Gang, Hebei Iron & Steel Group, and Shandong Iron & Steel Group
Shougang steel plan to cut approximately 20% production capacity. The senior management recently met in Handan.

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Non-manufacturing Industry and Manufacturing Industry

Filed under: financial news — Tags: , , , — Nancy @ 12:27 pm -0500

Business Activity Index of Non-manufacturing Industry has rebounded in China
On October 3, 2008, China Logistics Alliance released the data that the business activity index of non-manufacturing industry was 58.1%, which showed that the overall economy of Chinese non-manufacturing industry was increasing.

Japan: Confidence of Non-manufacturing Industry fell to Lowest Point of Five Years in September
In September, the confidence of manufacturing industry in Japan had been improved, but the confidence in non-manufacturing industry returned to the lowest point of five years, so it was further undermining the recession economy.

U.S. factory orders in August fell 4.0%
Xinhua Washington on October 2 reported that the data released by the Ministry of Commerce showed U.S. factory orders last month dropped by 4.0%, which was the biggest decline since the October 2006. Therefore, the manufacturing industry is depressing.

Profit Margin of Chinese Top 500 Enterprises of Manufacturing Industry rose to 6.51%
On September 2, 2008, China Industrial Information Issuing Center (CIIIC) released the “Company Information Issuing Report on 2007 China Enterprises in Manufacturing Industry”, which reported that the profit margin rose to 6.51%, which increased 0.97 percentage point compared with the previous year. Moreover, the tobacco profit margin reached to 17.3%.

Foreign Media: World Manufacturing Industry Universally Declined but China became the only bright spot in September
According to the report on October 2 from “Financial Times” that one survey result showed that in September the world manufacturing industry all declined, but it appeared the only one bright spot, that is, China.

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