China’s tens of billions of loans for the first year of the Brazilian oil imports 150,000 barrels / day
Petrobras announced yesterday that its relationship with the State Development Bank signed a 10-year of 10 billion U.S. dollars of bilateral loan agreements. This is a bilateral loan agreement and the Chinese Government, the Government of Brazil to the outcome of cooperation, loans will be used for the Brazilian oil company investment plans, including its purchase from China, the financing of goods and services. According to the National Development Bank yesterday and signed the agreement, the two sides agreed to increase Brazil’s crude oil export volume in China.
This is China’s “loans-for-oil” in the latest case, China and Russia, Venezuela and other countries have also signed a similar oil loan agreement.
Yesterday, the new signing of the document also include the launch of a Brazilian oil company and a wholly owned subsidiary of Sinopec joint petrochemical companies in Asia’s long-term export agreements signed. The agreement stipulates that the first year of the Brazilian daily oil exports to China 150,000 barrels of oil, followed by 9 per day in exports to China 200,000 barrels of oil. Brazil oil company Sinopec has also signed a memorandum of understanding, including both sides in several areas of interest, such as: oil exploration, refining, petrochemicals, products and services and other fields.
China’s fiscal revenue in April fell 13.6%, while expenditure increased 24.5%, tension between revenue and expenditure has been further highlighted
Ministry of Finance statistics show that China’s fiscal revenue in April was 589.715 billion yuan, which reduced the 92.773 billion yuan compared with the same month last year, down 13.6%. Among them, the central income was 294.074 billion yuan, down 25.2 percent; the local revenue was 295.641 billion yuan, an increase of 2.2%.
At the same time, the financial expenditure was 507.805 billion yuan, which increased 99.961 billion yuan compared with the same month last year, an increase of 24.5%. Among them, the central expenditure was 116.125 billion yuan, an increase of 25.3%; local expenditure was 391.68 billion yuan, an increase of 24.3%.
Report: FDI in China in April fell 22.51 percent year-on-year, the decline expands
According to overseas media reported Thursday, the sources disclosed, China’s January-April actual foreign direct investment (FDI) dropped 20.98 percent year-on-year, the largest decline is 22.51 percent in April, while the decline expands. This shows that the current financial crisis led to reduced investment demand continues to inhibit the inflow of foreign capital, China’s investment in the restoration of the attractiveness of the road is still long.
The source who declined to disclose his name said that from January to April this year, China’s actual FDI was 27.669 billion U.S. dollars, declined 20.98 percent compared the same period last year; the decline is higher than 20.56% in January-March. The FDI decline in China’s January-February was 26.23 percent.
The source also said that in April the actual FDI was 5.892 billion U.S. dollars, dropped 22.51 percent compared with the same period last year, the decline is considerably higher than March’s 9.5%.
The decline of FDI in China was 15.81 percent, 32.67 percent for January.
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