2008 october | china financial daily

October 5, 2008

6.4 Billion Dollars Arms

Filed under: Financial News — Tags: arms, IMF, loan, People's bank, property market, tourism — Nancy @ 8:07 am -0700

U.S. sold more than 6.4 Billion Dollars Arms to Taiwan arousing China’s Opposition
According to Xinhua News Agency in Beijing, on Oct.4th our spokeman of foreign ministry, Liu Jianchao showed us that, Chinese govenment and people oppose and condemn resolutely the act of USA which damaging the interests of China and our two countries’ relationship.

A Single Day Average Price has decreased below 10 thousand for Shenzhen Property Market
During the Fall Property Market Fair in Shenzhen, the lasting low turnover created the new record below one million mark.

Luoyang and Dengfeng in Henan province promote tourism coorperation with Seoul Korea
Reported from Henan tourism department: the tourism offices of Luoyang, Dengfeng and Seoul signed an agreement about developing local tourism resources.

other news:

AIG will focus on Global Property Liability Insurance to repay the Loan by selling the Remaining
Recently AIG, reorganizing assets as the global insurance giant, claimed to focus on his property and the liability insurance business again. Also searched for the chance to sell his remaining high-quality business and assets.

IMF CEO Claims that Economic Crisis have ravaged Banking Seriously
CEO of IMF, Strauss Kahn pointed out that the loss to the banking caused by the U.S. economic crisis was higher than peoples’ anticipation. The current global financial situation is very disturbing.

People’s Bank: China is willing to work with USA to strengthen Coordination and Cooperation
China: work with USA to maintain the financial stability. EU: welcome. Japan: a high degree of concern.

Comments (1)

Chinese Export Situation in Coal, Bit Tools, Foodwear, etc.

Filed under: Financial News — Tags: bit tools, coal export, export, footwear, tariff concessions — Nancy @ 1:10 am -0700

China Coal Export has decreased for two consecutive months
The Customs statistics show that since June this year, China coal export has decreased for two consecutive months. It is predicted the export volume will be the same level of last year. The data shows that from January to August, China export 33.64 million tons totally, which increased 0.3% compared with the same period last year; among which, China coal export in August was 3.37 million tons, which reduced 1.41 millions compared with the amount in July.

Depreciation of Euro Dollar makes the Export of Yangjiang Bit Tools slow down in Guangdong
Influence the factors that the appreciation of RMB and increase of raw material prices, “Chinese Bit Tools Capital”, part of Yangjiang enterprises in Guangdong has been endured great burden to forward.

Part of Ningbo Export Company obtain Export Tariff Concessions
The textiles, garment machinery and electronic products which export from Ningbo to New Zealand could be reduced two percentage points’ tariffs. Ningbo Inspection and Quarantine Bureau reminded recently from this month, part of Ningbo export enterprises could obtain New Zealand’s export tariff concessions by the certificate of origin.

Exports of Domestic Footwear industry are expected to fall 20%
President of Hong Kong Footwear Association, Liang Richang said influenced the global economic slowdown and financial crisis, domestic exports of footwear industry had a significant drop in the previous quarter, and the annual export volume would be expected to fall 20% over last year. He also said there would be 10-15% decline in 2009, while the largest decline in exports would be the shipments to America. Moreover, he also believed that the footwear industry in Guangdong Province would have a new round completion tide at the end of this year.

Exports of Chinese Textile Goods to Russia have a stable Growth
In recent years, bilateral trade between China and Russia has gradually increased, so the exports of Chinese textile goods to Russia still keep the stable growth.

Comments (0)

October 4, 2008

Chinese Business News in Hongkong and Taiwan

Filed under: Financial News — Tags: AC LED, mortgage, RMB — Nancy @ 10:24 pm -0700

RMB Cash Exchange Operation in Taiwan
The reporter learned from Taiwan Financial Institution on Oct.4 that since June 30, Taiwan banks total brought 665 million RMB and sold 1010 million RMB. The transaction volume has been over 1600 million RMB.

Taiwan sets up AC LED Applications Research Alliance
The news from ChinaByte Net on Oct.4 that China Taiwan AC LED Applications Research Alliance has formally been established, which aims at the LED lighting market.

“Food Capital of Asia”: Hong Kong
Hong Kong Obtains 38.6 billion Hong Kong dollar for total restaurant receipts in the first half of this year.

Another Three Hong Kong Banks Raise 0.5% Mortgage Interest Rate
News from Xinhua Net on October 3 that after HSBC, Bank of China, and other firms recently raised mortgage interest rates, Another three Hong Kong banks announced on the 3rd to raise 0.5% mortgage interest rate, they are Citigroup, DahSing, and MEVAS.

Data from National Development and Reform Commission (NDRC)

NDRC: Proportion of Investment in Middle and Western Regions Increases
The National Development and Reform Commission (NDRC) recently announced the investment data: from January to August, the proportion of investment in Chinese middle and western regions was 48.6% in the whole fixed assets investment in China, which increased 1.8 percentage points compared with the same period last year.

From January to August, Fixed Assets Investment Proportion Growth Rate in China
The Statistics released by NDRC showed that from January to August the fixed assets investment in eastern China was increasing 22.6% compared with the same period last year, the middle part of China rose 35.3% while western China increased 29.1% compared with the same time last year.