Top 5 News From ChinaKnowledge.comBarclays Bank raises stake in Sinopec to 6.02%YunNan Metropolitan to start 189.48-Mu property projectHong Kong's Watsons to grow mainland presenceChina imports 378,943 tons of refined copper in JunCoca-Cola China sales up 14% in Q2

Jul. 24, 2009 (China Knowledge) - China Eastern Airlines Ltd<600115><0670><CEA>, the country's third-largest carrier, plans to launch 29 weekly direct flights between nine mainland cities and Taipei, Taiwan at the beginning of September, a company official on Thursday, the Shanghai Daily reported.

The 29 direct flights include 10 weekly flights from Shanghai and four from Nanjing, capital of East China's Jiangsu Province, said the official, adding that the carrier is still waiting for approval from the Civil Aviation Administration of China, the country's aviation authority.

China Southern Airlines Ltd<600029><1055><ZNH>, the country's largest airline by fleet size, and Air China Ltd<601111><0753>, the country's second-largest commercial airline, earlier both announced that they would run 27 weekly passenger flights linking mainland cities and cities in Taiwan.

Taiwan's EVA Airways Corp and its subsidiary Uni Air plan to launch direct flights on Aug. 31, EVA Air said on its website yesterday.

Weekly flights across the Taiwan Strait will increase to 207 from 108, according to the mainland-based Association for Relations Across the Taiwan Strait and the Taiwan-based Strait Exchange Foundation.


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CNPC sta steam trap rts building refineries in Chad and Niger
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CNPC starts building refineries in Chad and NigerPublished: 12 Nov 2008 02:07:34 PST

Nov. 12, 2008 (China Knowledge) - China National Petroleum Corp (CNPC), parent of the country's largest oil and gas producer PetroChina<601857><857><PTR>, announced it has commenced construction of two refineries in Chad and Niger, sources reported.

CNPC has clinched investment agreements on refinery projects with the two African countries earlier.

The company Tuesday said on its website that two refineries are scheduled to start commercial operations around 2011, adding both refineries will have capacity of processing 1 million tons of crude oil annually, equivalent to 20,000 barrels per day in the initial period.

CNPC also revealed that the processing capacity of the refinery in Chad will be eventually expanded to 5 million tons of crude oil annually or 50,000 barrels per day.

Products from those two refineries will be mainly used to meet domestic demand, according to CNPC.



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Shipbuilding industry far from recoveryPublished: 03 Sep 2009 09:02:01 PST

By Chen Yang

China's shipbuilding industry, which ranks second in the world in terms of tonnage and number of vessels built, will continue to struggle due to the global recession, even if new orders increase in the second half of this year, said experts at a forum held in Beijing yesterday.

China's shipbuilding industry has deteriorated since last September as new orders shrank and vessel prices dropped, said Wang Rong, an official at the Ministry of Industry and Information Technology (MIIT).

The country's shipbuilders received 7.87 million deadweight tons (DWT) of new orders in the first seven months of the year, a decrease of 78 percent year-on-year, according to statistics from the MITT.

Meanwhile, orders of 75 vessels, or 3.88 DWT, were canceled during the same period, about 2 percent of the industry's total current orders as of the end of July, said the ministry.

The price of vessels also plunged due to declining demand of new ships, said Wang Wenjun, deputy director of the Economic Research Center within China State Shipbuilding Corporation (CSSC).

The average price of ships has dropped more than 20 percent during the past year.

For example, the price of a Very Large Crude Carrier was 114 million yuan ($16.69 million) in August, down 24 percent compared with a year earlier.

The price of bulk carriers with a loading capacity of 80,000 tons decreased by 28 percent, and the price of container ships dropped by 35 percent.

Wang said the domestic shipbuilding industry also faces problems such as financing difficulties and overcapacity.

The shipbuilding industry has developed very quickly over the past three years, reaching a production capacity of 66 million tons, a number that is expected to rise to 80-90 million tons in 2010, said Huang Pingtao, Chairman of the Chinese Society of Naval Architects and Marine Engineers.

CSSC, one of the largest shipbuilders in the country, reached a production capacity of 54 million tons in 2008, making up 8.7 percent of total global shipbuilding capacity.

The government has been proactive in addressing the industries problems.

"A stimulus plan issued February by the State Council for the shipping industry will help Chinese shipbuilding companies recover from the downturn more quickly," said Huang of Chinese Society of Naval Architects and Marine Engineers.

The plan also said that China might become the global shipuilding leader by the 2015.

"As China's economy recovers, there will be batches of new orders. However, since it is unlikely that the global market will bounce back soon, the most difficult period for the shipuilding industry will emerge around 2011, when companies' production is under capacity," said Wang of he Economic Research Center within CSSC.

"Even if the world economy gradually recovers next year, new orders are unlikely to reach previous highs," Wang added.

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State Gr gummed tape dispenser id posts RMB 16.05-bln loss for Jan-Sep
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State Grid posts RMB 16.05-bln loss for Jan-SepPublished: 05 Nov 2009 01:08:10 PST

More From ChinaKnowledge.comChina Economy DataChina Business GuideChina DemographicChina Industrial ParksChina Financial Market

Nov. 5, 2009 (China Knowledge) - State Grid Corp of China, the nation's largest power supplier, posted a loss of RMB 16.05 billion for the first nine months of this year, sources reported.

SGCC recorded a loss of RMB 22.77 billion from the grid business in the first three quarters. Its debt/asset ratio was 65.66% as of the end of September, up 2.6 percentage points since the beginning of this year.

The loss was mainly due to an increase in the cost of thermal power and to decreasing profits from power gird enterprises, said a representative of SGCC. Sources also indicated that 25 out of SGCC's 30 local subsidiaries posted losses in the first three quarters.

The business losses in the first nine months will impact financing costs and lead to difficulties, added the representative.

SGCC sold 1.67 trillion kWh of electricity in the first nine months of this year, 2.1% more than in the same period of 2008. The firm invested RMB 187.56 billion in fixed assets during the period, 8.8% more than in the same period of last year. The investment included RMB 182.27 billion in grid projects, 9.6% more year on year.



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Youngor paper bag machine to inject RMB 1.7 bln into property subsidiary
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Youngor to inject RMB 1.7 bln into property subsidiaryPublished: 09 Aug 2009 20:05:58 PST
Top 5 News From ChinaKnowledge.comChampion REIT's income up 162% in H1Chunghwa Picture posts NT$9.86 bln of after-tax loss in Q2Wanda starts RMB 4-bln project in HubeiBeijing plans to invest RMB 10.4 bln in power grid this yearChinese stocks open 0.83% higher on Mon

Aug. 10, 2009 (China Knowledge) - Youngor Group Co Ltd<600177>, which is engaged in the manufacture of apparel and textile products as well as in property development, on Aug. 6 announced that it plans to increase the capital investment in a real estate subsidiary to RMB 3.2 billion from the previous RMB 1.5 billion, sources reported.

After the injection, the real estate subsidiary will purchase stakes in six firms from Youngor Group for a total of RMB 882 million. The purchase will include an 80% stake in a property firm and a 100% stake in a hotel firm in Suzhou, Jiangsu Province, a 60% stake in a property firm, a 90% stake in an investment firm, a 60% stake in a tourism firm and a 100% stake in a zoo in Ningbo, Zhejiang Province.

As of Mar. 31, the real estate subsidiary's total assets were RMB 7.57 billion. In the first quarter of this year, the subsidiary's operating revenue was RMB 916 million, down 48.19% year on year, and net profit was RMB 123 million, down 75.29% year on year.

In 2007, a subsidiary of Youngor Group reportedly teamed up with China Overseas Land & Investment Ltd<0688> to build a villa project in Hangzhou, Zhejiang Province. The project, which has a potential floor area of 290,000 square meters, will begin to pre-sell this year.


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China may lift income tax thresholdPublished: 01 Dec 2008 02:51:25 PST

Dec. 1, 2008 (China Knowledge) - China's taxable individual income level may moderately rise this month as a proposal to raise the individual income tax jointly drafted by the Ministry of Finance and the State Administration of Taxation has been submitted to the State Council, sources reported, citing the local magazine China Times.

The proposal, if approved, marks the second increase in the taxable income level on the mainland this year. However, the new level would remain below RMB 3,000, compared with the current RMB 2,000 level.

The Chinese government has raised the income tax threshold from RMB 1,600 to RMB 2,000 since March this year.



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Taiwan's outdoor playground equipment CPI down 0.81% in Aug
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Taiwan's CPI down 0.81% in AugPublished: 08 Sep 2009 01:15:20 PST
Top 5 News From ChinaKnowledge.comStandard & Poor's downgrades Country Garden's ratingsHSBC China issues RMB 2 bln in bondsChina's Ministry of Finance to issue RMB bonds in HK: reportChina State Construction to build US$3.6-bln tourism projectCompal to set up 5th notebook plant in mainland China in Q4

Sep. 8, 2009 (China Knowledge) - Taiwan’s consumer price index declined 0.81% year on year in August to 106.17 points, driven down by falling oil and food prices, according to statistics released by the Directorate General of Budget, Accounting and Statistics of the island.

The decline was in line with the 0.80% drop forecast by 11 economists surveyed earlier by Dow Jones Newswires.

The drop was less than the revised 2.32% decline in July. The drop in July was the largest since October 1970 when the island’s CPI tumbled 3.07% year on year, as food and fuel prices increased following the destruction caused by Typhoon Morakot, said the bureau.

The wholesale price index, a gauge of production costs, dropped 11.24% year on year in August, less than the decline of 12.23% predicted by economists, but increased 2% from July, owning to rising prices of crude oil, natural gas, basic metals and chemicals. The revised WPI decreased 13.97% in July.


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Acer to indoor playgrounds tap into mainland's smartphone market
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Acer to tap into mainland's smartphone marketPublished: 08 Apr 2009 23:36:47 PST

Apr. 9, 2009 (China Knowledge) - Taiwan-based Acer Inc, the world's third-largest PC brand, will introduce its mobile smartphone to the Chinese mainland as part of its expansion strategy, said Chairman J.T. Wang, the Shanghai Daily reported on Thursday.

Wang said that Acer was in talks with two telecom operators on the mainland about its smartphones and it expects to sell them there this year.

The company will open more stores in mainland China, adding 400 stores to the 800 existing ones. In addition, it will set up a software development center in Shanghai, according to the report.

Acer's smartphone, which was launched earlier this year, has a relatively large bigger and is expected to help the company compete with rivals in the severely competitive smartphone market.

Acer said it expects its major PC business to continue rising 25% to 30% in the second quarter this year despite the economic slowdown.


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Hang Sen sticker manufacturer g Index opens 328 points higher on Thu
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Hang Seng Index opens 328 points higher on ThuPublished: 19 Aug 2009 18:50:45 PST
Top 5 News From ChinaKnowledge.comMirae Asset cuts stake in Guangzhou Shipyard to 4.87%SOHO China buys office building in Shanghai from Morgan StanleySanya Phoenix Int'l Airport to issue financing bills on TueFujitsu to produce color e-book readers with Taiwanese firmTCL net profit plunges 76.46% in H1

Aug. 20, 2009 (China Knowledge) - Hong Kong stocks rose on Thursday morning, with the benchmark Hang Seng Index opening 328 points higher at 20,282.

The Hang Seng China Enterprise Index, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, opened 181 points higher at 11,500.

China Life Insurance<601628><2628><LFC> increased 0.94% from the previous closing to HK$32.35. Ping An Insurance<601318><2318> rose 1.65% and opened at HK$61.65.


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Haier to consolidate product line in dealPublished: 14 Dec 2009 11:02:01 PST

By Wang Xinyuan

Qingdao Haier announced Monday that it would seek to consolidate its product lines and reduce costs by becoming the major shareholder of Hong Kong-listed Haier Electronics.

Qingdao Haier and Haier Electronics are both subsidiaries of the Haier Group. Qingdao Haier, listed on the Shanghai Stock Exchange (SSE), will become the flagship appliances arm of the group after the share transfer, spokesman Sun Kunpeng said in an e-mail Monday. The move will help the group improve its global operations and maintain its market leadership, he said.

Under a transfer agreement, Qingdao Haier will pay cash to buy 647.12 million shares, or 31.93 percent, of Haier Electronics at HK$3 ($0.39) per share, for a total of HK$1.94 billion ($284 million), according to a statement from Qingdao Haier released Monday.

Qingdao Haier will buy 547.12 million shares and 100 million shares of Haier Electronics respectively from their current owners, Qingdao Haier BVI and Haier Third BVI, also members of the Haier Group.

Upon completion of the transfer, Qingdao Haier will hold a 51.31 percent stake in Haier Electronics. The transfer agreement is still subject to approval by regulators, the statement said.

Intelligence firm Euromonitor International ranked the Haier Group first in Global Major Appliances Brands 2009 by brand share, with a retail volume market share of 5.1 percent, up 0.8 percent from 2008, said Zhang Bin, PR manager of the group.

Qingdao Haier produces air-conditioners, refrigerators, TVs and computer, while Haier Electronics produces washing machines and water heaters for showers. The two companies have different product managers and sales channels, said Bi Yan, an analyst with China Merchants Securities.

"The deal will enable Qingdao Haier to integrate the business of major appliances for better image building, and save costs by sharing distribution channels and network," Bi said.

The company said in an e-mail reply that it did not have an estimate on costs savings from the deal, as the number could vary.

Bi said Haier Electronic's financial performance will likely be consolidated into Qingdao Haier's financial reports early next year, bringing net profits of about 500 million yuan ($73.2 million), or a 0.12 yuan ($0.02) increase in earnings per share by the end of 2010.

Haier Electronics decided to establish a wholly-owned subsidiary in the Chinese mainland to expand its sales, logistics and service networks in the third- and fourth-tier markets to further capture surging demand in rural areas, according to a statement released by the Hong Kong Stock Exchange September 14.

Those networks will be shared with Qingdao Haier, said Jonathan Kiu, a spokesman on investor's relations for Haier Electronics.

Originally, the group planned to integrate Qingdao Haier's business into Haier Electronics, so as to make it easier to finance in the Hong Kong stock market. However, China's A-share market seemed more attractive than the Hong Kong market, so they decided to do it the other way around and seek to draw capital from China's A-share market, Bi noted.

"We think that the Hong Kong capital market is equally important with the A-share market," said Sun, the Haier Group spokesman, noting that Haier Electronics will remain independent and will not de-list in Hong Kong. "Both markets can support the financing of the listed companies."

Qingdao Haier ended at 24.66 yuan ($3.61) Monday, up 1.86 percent from Friday's trading.

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108 companies file papers with GEBPublished: 26 Jul 2009 16:02:01 PST

By Zhao Qian

The application period for companies interested in being listed in a planned Growth Enterprise Board (GEB) began yesterday and 108 companies expressed interest in the Nasdaq-style second board.

Applicants lined up inside the hall of the China Securities Regulatory Commission (CSRC) early to file their papers but the office didn’t open until 9 am.

“Lots of applicants waited there when it was just 8 am,” a CSRC worker told the Global Times yesterday.

The number of applicants and the companies accepted to the board will be disclosed in about five days, an official from the CSRC said.

As part of the procedure, applicants must submit three years of financial data together with other related documents, according to CSRC.

A company may be qualified for the board during the first round if it accumulated at least 30 million yuan ($4.39 million) in net profit in the past two consecutive years.

This is twice the original requirement released by CSRC in June, according to Xinhua news agency.

And the number of sponsors for these companies to be listed on this board was 38.

Wang Lixiang of Merchant Securities said that they sponsored 12 companies and most are based in Guangdong Province, Beijing and Northeast China. The board will be based in Shenzhen.

Lepu Medical Technology (Beijing) and Jiangxi Hengda High-Tech were among the applicants.

China first started preparing to launch the GEB 10 years ago. And the interim regulations on the long-awaited GEB were released May 1 while supporting regulations and standards came later.

The small- and medium-sized companies must achieve fast growth and speed up innovation, CSRC officials said.

“The small- and medium-sized companies choose to list on GEB because the companies have limited ways to finance,” said Wang Min of China Renaissance Capital Investment. “But we should not expect too much on that.”

Chen Xiaomin also contributed to the story


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Chinese stocks up 2.96% on MonPublished: 16 Feb 2009 18:04:02 PST

Feb. 16, 2009 (China Knowledge) - Chinese stocks ended higher on Monday following last week's gains, led by market heavy weights.

The benchmark Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, rose 2.96% or 68.6 points to 2,389.39 points after fluctuating between 2,389.88 and 2,328.18 points.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange extended 1.65% or 142.29 points to 8,771.04 points, after touching an intraday low of 8,552.47 points.

Gainers in the Shanghai market outnumbered decliners by 617 to 191, while 46 were unchanged. Aggregated turnover on the two bourses was RMB 273.6 billion.

Market heavy weight PetroChina<601857><857><PTR>, the nation's top oil producer, gained 3.58% to close at RMB 12.16, while Asia's largest oil refiner, Sinopec<600028><386><SNP> went up 3.58% to close at RMB 9.27.

Boosted by the government's incentives for the iron and steel sector, Baoshan Iron&Steel Co Ltd<600019> surged 9.93% to end at RMB 6.42. Wuhan Iron and Steel Co Ltd<600005> ended 10.06% at RMB 7.33. Angang Steel Co Ltd<000898><347> added 9.09% to end at RMB 9.60. Fushun Special Steel Co Ltd<600399> went up 10.04% to close at RMB 5.70.

Bank of Communications<601328><3328> expanded 3.33% to end at RMB 6.20. Bank of China<601988><3988> went up 5.64% to end at RMB 3.56. China CITIC Bank Corp Ltd<601998><998> rose 5.24% to RMB 4.82. China Merchants Bank<600036><3968> ended 7.56% higher at RMB 15.93.

Northeast Securities Co Ltd<000686> surged 9.98% to end at RMB 222.92. CITIC Securities Co Ltd<600030>, the country's most profitable brokerage, went up 4.13% to end at RMB 26.47. Haitong Securities Co Ltd<600837>, a Shanghai-based brokerage, added 4.17% to close at RMB 14.49. Sinolink Securities Co. Ltd<600109> increased 5.16% to close at RMB 34.63.

Chongqing Changan Auto Co Ltd<000625><200625>, Ford Motor Co's partner in China, surged 10.08% to end at RMB 4.04 after the company said that it seeks shareholders' approval to buy back its 423 million Hong Kong dollar-denominated B-shares.

Domestic airlines have recently lowered fuel surcharges on some international routes. China Eastern Airlines<600115><670><CEA> ended 4.14% higher at RMB 5.79. China Southern Airlines Ltd<600029><1055><ZNH> surged 9.61% to close at RMB 5.02 after the company said its passenger volume up 16.2% year on year in January.

Beijing Capital Development Co Ltd<600376> slid 3.54% to end at RMB 12.53. Beijing Airport High-Tech Park Co Ltd<600463> tumbled 2.53% to end at RMB 6.54. Yeland Group Co Ltd<000616> dropped 2.23% RMB 6.14. China Vanke Co Ltd<000002><200002>, the country's largest property developer, ended 0.47% lower at RMB 8.51.



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China鈥檚 trade surplus may decrease by US$100 blnPublished: 04 Dec 2009 01:37:14 PST
More From ChinaKnowledge.comChina Economy DataChina Business GuideChina DemographicChina Industrial ParksChina Financial Market

Dec. 4, 2009 (China Knowledge) - Minister of Commerce Chen Deming said recently that measures aimed at slowing the growth of China's foreign trade surplus have taken effect. In 2008, the total trade surplus amounted to US$290 billion. This year, the figure may be less than RMB 200 billion.

Chen said China does not seek to expand its trade surplus, but rather wishes to have a trade balance. He also said that next year China will further increase imports. Chen also said economic adjustments should be based on free trade and not on protectionism.

Chen said there is still uncertainty regarding economic recovery next year. The total volume of foreign trade may appear to have increased this year, but the amount may be down 16% or 17% compared with last year.

This year's economic growth was achieved as a result of the country's proactive fiscal policy and moderately easy monetary policy. Because enterprises in the market have not fully recovered from the economic crisis, the Chinese government should maintain a stable macroeconomic policy, he said.



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Chinese stocks up 1.52% on TuePublished: 20 Oct 2009 00:06:16 PST
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Oct. 20, 2009 (China Knowledge) - Chinese stocks ended higher on Tuesday, with financial stocks leading the gains.

The benchmark Shanghai Composite Index, which covers both A shares and B shares on the Shanghai Stock Exchange, increased 1.52% or 46.18 points to close at 3,084.45 points after fluctuating between 3,084.94 and 3,053.64 points.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange rose 1.55% or 192.97 points to 12,676.24 points, after touching an intraday low of 12,531.67 points.

Gainers in the Shanghai market outnumbered decliners 654 to 153, while 50 were unchanged. Aggregated turnover on the two bourses was RMB 264.12 billion.

Financial stocks ended higher. Industrial and Commercial Bank of China<601398><1398>, the world's largest lender by market value, increased 2.2% to RMB 5.11. CITIC Securities Co Ltd<600030>, the largest listed brokerage in China, rose 1.19% to RMB 28.12.

Liquor makers were gainers. Wuliangye Yibin Co Ltd<000858> jumped 8.42% to RMB 23.83. Shanxi Xinghuacun Fen Wine Factory Co<600809> rose 7.56% to close at RMB 33.86.

Beijing Aerospace Changfeng Co Ltd<600855>, a high-tech enterprise engaged in space military and civil products, jumped 8.62% to RMB 11.72. Xian Aircraft International Corp<000768> rose 6.42% to RMB 13.92.

The agriculture sector performed well. Xinjiang Guannong Fruit & Antler Co Ltd<600251> surged by the daily limit of 10% to RMB 24.76.

Newly listed China International Travel Service Co Ltd<601888>, the top travel agency in the country, spiked by the daily maximum of 9.97% to RMB 17.42.

Fiber stocks also ended higher. Zhejiang Huafeng Spandex Corp<002064>, China's leading spandex producer, jumped 7.1% to RMB 14.63.



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China's screen changer central bank mulls SME credit rating system
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China's central bank mulls SME credit rating systemPublished: 25 Nov 2008 02:07:29 PST

Nov. 25, 2008 (China Knowledge) - The People's Bank of China (PBOC), the country's central bank, is considering building a credit rating system on small and medium enterprises (SMEs), China Daily reported, citing a PBOC official.

The new system is expected to help banks improve their risk control capabilities and hence simplify the bank loan application process for the SMEs, which are suffering from financing problems amid the global financial crisis.

PBOC has earlier canceled the ceiling on bank loans. However, due to the worsening macroeconomic situations and the growing non-performing loans (NPLs) from SMEs, commercial banks in China are becoming more cautious in granting loans.



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BMW to s knitted fabric et up 2nd China plant to expand output
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BMW to set up 2nd China plant to expand outputPublished: 12 Nov 2009 19:36:19 PST
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Nov. 13, 2009 (China Knowledge) - German luxury car maker BMW AG on Tuesday signed a memorandum of understanding with its Chinese partner, Brilliance China Automotive Holdings Ltd<1114>, to invest US$735 million to raise production capacity, sources reported.

The investment will partly be used to fund the expansion of an existing joint venture plant in Shenyang, Liaoning Province, where BMW 3-series and 5-series sedans are produced. It is expected that the Shenyang plant will produce 75,000 units by the end of next year, compared with the current capacity of 30,000 per year.

The two companies will also start construction on a second plant in 2010, with an annual production capacity of 100,000 units at the initial stage, and to 300,000 units in the long term.

The expansion will eventually involve a long-term investment of more than RMB 5 billion, BMW said in a statement.

The new plant will help the auto maker meet soaring demand for its 3 Series and 5 Series long-wheel-base automobiles in China, which will play a major role in the global auto motive business in the development of future technologies, said Friedrich Eichiner, a board member of the BMW.

The expansion will also include an engine plant in which some of BMW's most up-to-date engines will be assembled.

During the first nine months, China has overtaken Italy as the fourth-largest market for BMW after Germany, the U.S. and the U.K., China Knowledge reported earlier.

In October, BMW sold 9,558 units of BMW and Mini-branded cars in China last month, 81% more than in the same period of last year. The auto maker's vehicle sales in the country rose 36.7% from 52,622 units a year ago to 71,952 units during the first ten months of the year.



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India ea Sandales compensées ses ban on China toys, wants safety stamp
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India eases ban on China toys, wants safety stampPublished: 14 Apr 2009 08:20:07 PST

NEW DELHI (Reuters) - India on Monday relaxed a ban on the import of toys from China to allow shipments certified by global safety agencies, weeks after the government had imposed wide-ranging curbs for six months citing public safety.

In February, India's trade minister said the move complied with World Trade Organisation rules, but it drew strong criticism from China and sparked further worries about protectionism as the impact of the global financial crisis spreads.

In a government statement, India said imports of Chinese toys would now be allowed if they were accompanied by certificates from globally accepted consumer safety bodies such as the International Organization for Standardization (ISO).

Indian newspapers reported that prices of toys in local markets spiked after the ban, as a majority came from China, a key supplier of toys, apparel and food to much of the world, but which has faced a wave of complaints in recent years.

Most recently, at least six children died and almost 30,000 fell ill in China after consuming milk powder tainted with melamine, a chemical used to make plastics.

In 2007, the world's leading toymaker Mattel recalled more than 21 million Chinese-made toys worldwide due to excessive levels of lead paint and other unsafe components.

The Toy Association of India has said it had urged the government to raise import taxes on Chinese toys but did not expect a ban.

Large job losses in key sectors of the Indian economy such as construction, exports and manufacturing as the global economic crisis hits domestic growth have triggered calls for measures to protect Indian industry and jobs.

But Finance Minister Pranab Mukherjee told a labour conference last month that India was worried over growing signs of protectionism and would oppose such moves at global forums.

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China is knife gate valve sues RMB 25.37 bln 10-year T-bonds
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China issues RMB 25.37 bln 10-year T-bondsPublished: 15 Dec 2008 02:10:05 PST

Dec. 15, 2008 (China Knowledge) - China's Ministry of Finance (MOF) announced it has issued RMB 25.37 billion worth of book-entry treasury bonds with a maturity of 10 years on Friday, sources reported.

The coupon rate was 2.90%, lower than the average 3% of bonds with the same maturity on the second-tier market.

MOF originally planned to issue RMB 22 billion, and added RMB 3.37 billion in the course of the issuance.

According to MOF's earlier statement, the 10-year bonds, the 25th batch this year, carry a fixed interest rate. Interest will be calculated from Dec. 15 and would be paid semiannually, while the principal will be settled at maturity.

The bonds will become tradable from Dec. 19.



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Crisis F snap button ocus: Truth Behind Numeric Recovery
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Crisis Focus: Truth Behind Numeric RecoveryPublished: 31 Aug 2009 17:43:40 PST

Recent statistics on the economy have given people, not only in China, but also in the United States—even the world beyond—the reason for optimism. But has the world recession really come to a close and—more importantly—is a rebound now in sight?

Xue Yong, a Chinese-American assistant professor in the Department of History at Boston's Suffolk University, offered his insights on his blog at sina.com.

Edited Excerpts follow:

Recently, government officials, economists, as well as members of the media, have been offering increasingly upbeat views about the U.S. economy. But maybe we should not be so sanguine after digging out the truth behind the seemingly optimistic indicators.

As we all know, the United States is at the epicenter of the global recession. Nonetheless, America remains the world's economic superpower, and its giant demand for foreign-made goods has helped to revive overseas manufacturers. In this sense, U.S. economic performance shall inevitably exert influence on the Chinese economy.

It is true that the American economy is showing increasing signals of recovery. In the second quarter, for instance, the U.S. gross domestic product (GDP) decreased by 1 percent year on year—a dramatically slower decrease from the 6.4 percent drop in the first quarter.

The real estate market, the main culprit of the economic crisis, also demonstrated a slight rally. Housing prices in the United States, meanwhile, witnessed their first increase in the last three years, according to Standard&Poor's Case Shiller home price indexes.

But I would like to ask where all these excellent indicators came from? For the most part, the stimulus projects by the federal government have made all this happen. Big government saved the day, according to economist Paul Krugman, a Nobel Prize-winner, in his column in The New York Times.

But everyone knows there is no such thing as a free lunch. The stimulus project could not work without borrowing money. It is estimated that this year's federal deficit will amount to $18 trillion—but any more than that will prove unbearable to the federal government.

The huge federal debt forces the government to pay off interest with taxpayer money. Furthermore, too much debt portends to undermine investor confidence in buying U.S. Treasury securities.

The empty national treasury will not be the only bad end result. U.S. consumers will remain shackled with a high household-debt ratio and most probably not be likely to produce large purchasing power anytime soon.

Some people say the government stimulus project is exerting its maximum power at the present stage, and that its influence will die out by next January. If this is true, will the economy fully recover in less than the four months left?

Moreover, 59 percent of American people believe the government is being far too loose in its spending, and predicts that it will get more and more difficult for the Obama administration to ask for money from Congress in the future.

For these reasons, it is premature to say the recession is over—when we do not know how much deeper it could go. Indeed, when it comes to making a judgment on the current economic situation in the United States, we should be more prudent than ever.



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FCI team escarpins talons s up with SMIC for 300 mm projects
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FCI teams up with SMIC for 300 mm projectsPublished: 19 Mar 2009 00:57:39 PST

Mar. 19, 2009 (China Knowledge) - U.S.-based FlipChip International, LLC (FCI) has reached a partnership with Semiconductor Manufacturing International Corp (SMIC)<981>, the largest and most advanced chipmaker in China, to cooperate on 300 mm flip chip bumping and wafer level packaging, sources reported.

FCI and SMIC will jointly develop the latter company's advanced 300 mm bumping plant in Shanghai's Pudong District through turnkey bumping services provided by FlipChip Millennium (Shanghai) (FCMS), and the FCI facility in Phoenix, Arizona in the U.S.

Furthermore, the two companies will cooperate to adjust their product roadmaps and enhance their technologies for applications in cell phones, medical equipment, autos, microprocessors, graphics processors and 3G wireless integrated solutions.



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Google $ 12.5 billion acquisition of Motorola Mobile

Beijing time on August 15 evening news, Google shenyang plastic pipe today announced that it has signed a definitive agreement with Motorola Mobile, $ 40 per share in cash for the latter, a total of about $ 12.5 billion, and Motorola mobile compared to Friday's closing price premium of 63%. The transaction has been approved by both companies' boards.

Google acquisition of Motorola's mobile help further strengthen the Android ecosystem, so as to enhance the competitiveness of the mobile computing market.

After completion of the transaction, Motorola will serve china fan accessories as Google's mobile business continues to operate independently, Android still remain open.

Google CEO Larry Page (Larry Page), said: "Motorola is fully committed to the development of Android mobile platform, so the acquisition of Motorola's mobile line with the interests of both companies. Together, we will provide users with a better user experience, further strengthen the entire Android ecosystem, which is conducive to users, partners and developers. I very much shenyang fan accessories welcome the Motorola family of Google employees to become a member. "

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Beijing introduced new standards of ordinary housing

 Beijing Municipal Construction Committee and shenyang blower Beijing Municipal Local Taxation Bureau 25, announced, as a reasonable guide housing consumption in Beijing to re-adjust the general housing standards.

After adjusting for ordinary housing in Beijing to enjoy the preferential price cap is: Ring in the northern region of 38,880 yuan / square meter, in the southern region of 34,560 yuan  square meter, four to five rings shenyang ICT plastic pipe in the northern region of 32,400 yuan / square meter, in the southern region of 28,080 yuan / square meter, five to six rings in the northern region of 25,920 yuan / square meter, in the southern region of 21,600 yuan / square meter, six-ring outer region of 17,280 yuan / square meter.

According to reports, meet the new standards for ordinary housing to enjoy tax incentives. Individuals will purchase more than 5 years (including 5 years) of the ordinary home sales, exempt from sales tax. For individuals to purchase ordinary housing, and the house belongs to the family (members include the purchase, china plastic pipe the spouse and minor children) only housing, half the deed tax. For individuals to purchase 90 square meters and the following ordinary housing, and the house is the only family housing, deed tax at the reduced rate of 1%.

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Climate conference in Durban, would have difficulty reaching substantial agreement

 November 28, 2011 United Nations Framework shenyang ICT pipe co., ltd Convention on Climate Change 17th plenary meeting of the Parties Conference of the Parties in the eastern coastal city of Durban, South Africa formally convened. The industry believes that, from the current situation, States Parties may find it difficult on the second commitment period of greenhouse gas emissions to reach substantive agreement, too much to rely on domestic CDM (clean development mechanism) income-generating enterprises, the uncertainty of the future will further increase performance. The next 10 years, the domestic related industries want to get "carbon" benefits, but also rely on more china shenyang blower fan accessories domestic carbon trading market was established.

 Converting to reach substantial agreement

 "Kyoto Protocol" commitment period will lapse at the end of 2012, 2012, between the countries after the issue of greenhouse gas emissions will make any arrangements, will be the focus of the Durban conference. Reporters shenyang blower fan accessories from the interview experience, the industry now have generally pessimistic attitude that debt crisis in Europe, North Africa unrest situation, climate change conference has become no longer urgent, so the substance of the meeting would have difficulty reaching agreement.

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Winter looming international shipping industry

 International shipping industry has always been regarded shenyang blower works parts factory as the economic development of the citizenry. As the European economic disadvantage debt, following last week's part of the European airline plans to cut routes in China, the last weekend of international ocean shipping giant Maersk Group, the official also announced this week will be adjusted to optimize the Asian course.

 Analysis of expected performance for international shipping downturn cast a shadow over the future of the global economic recovery, does not exclude the domestic launch the next round of economic stimulus plan.

 As of last week, the benchmark international shenyang ICT pipe shipping - Baltic Dry Index is 1807 points, still in the valley since 2009. Shipping industry in the winter is looming.

 A-share loss of the top ten companies accounted for four shipping

 London Institute of International Shipping report pointed out that close to Christmas in Europe and America, now this should be the peak of international shipping, but no clear charter freight demand.

 In addition, transportation is china shenyang ICT plastic pipe still not optimistic about commodities, especially iron ore freight market, the three major iron ore exporting countries - Australia, Brazil and India, shipments fell.

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Japanese official said Japan's finance alone does not rule out currency intervention

 According to Japan's Kyodo News November 28 news, shenyang machine tool parts Japan's top financial official in the tail Takehiko 28 in Tokyo, said in a speech, "If you think the market trend is speculative, does not rule out not with other countries to coordinate the case of a single currency intervention possibility ", reiterated the yen sharply higher when the firm intervention.

 He pointed out that Japan's slow economic growth, china taurus shenyang tractor in deflation, financial situation and poor. And to emphasize, not because the Japanese bond yields lower than the European countries, while the yen as a safe haven.

Google CEO Larry Page (Larry Page), said: "Motorola is fully committed to the development of Android mobile platform, so the acquisition of Motorola's mobile line with the interests of both companies. Together, we will provide users with a better user experience, further strengthen the entire Android ecosystem, which is conducive to users, partners and developers. I very shenyang moulds much welcome the Motorola family of Google employees to become a member."

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Stocks soared in New York
Since the introduction of more powerful investors look forward to the European debt problem solution, coupled with the arrival of holiday season spending will help boost retail sales data, 28 stocks rose zheng sheng mould machine tool parts sharply in New York, the Dow Jones index closed nearly 2.6%, the S & P index rose more than 2.9%, the Nasdaq composite index rose over 3.5%.

From the November 25 Thanksgiving "Black Friday" start to the Christmas holiday period is the traditional American consumer quarter, as investors awaited data on the consumption during the holiday season will be much shenyang tractor optimism as to boost market sentiment.

European debt crisis, European officials have 440 billion euros of European leveraged financial stability mechanism to reach an agreement, for the upcoming 29th meeting of European finance ministers meeting set a positive tone.

Meanwhile, the market will pay close attention to whether euro-zone summit on the overall financial management of the euro area and the degree of intervention to reach a consensus. In addition, Greece in a few china moulds weeks after the default risk, investors are also concerned about aid for Greece the next introduction of the program.

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