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AmCham-China Wire: March 3, 2010 05 February 2012
| 03 MARCH 2010 | A service of AmCham-China and  |
| SELECTED CHINA MEDIA REPORTS | View Archives |
| 1. Google still considering how to proceed in China 2. US Deputy Secretary will visit China; triggers conjecture about renminbi exchange rate issue 3. China's road to low-carbon economy arouses debates 4. Banks should charge account management fees according to the law 5. China-US relations expected to see a U-shape reversal 6. Will China-US trade friction be intensified? 7. It is time for China to transform its economic development mode 8. New loans in Feb. may fall to RMB600b; China's four big banks lent less than RMB300b 9. State Council may allow provincial governments to issue bonds and regulate debts of local governments 10. Liu Mingkang: banking industry must insist on risk baseline |
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| SELECTED FOREIGN REPORTS: 03 MARCH 2010 | |
| General Motors: February China Sales Up 51% On Year At 174,306 Units (AWSJ - subs. req.) PBOC Vice Governor: To Improve Forex Reserve Management (AWSJ - subs. req.) China Merchants Sets Rights Issue (AWSJ - subs. req.) China Banks Absorbed $170 Billion FX Swaps In '09: Report (NYT - reg. req.) China prepares for benefits of ice-free Arctic (SCMP - subs. req.) Guangdong to get more LNG terminals (SCMP - subs. req.) Top mainland bankers urge tax incentives for SME loans (SCMP - subs. req.) BYD and Daimler to develop new electric car for mainland market (SCMP - subs. req.) Promise of stable yuan to help exports in a 'difficult' year (SCMP - subs. req.) In China, Toyota Chief Again Apologizes for Recall (IHT) China overheat fears cool (Standard) |
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| 1. Google still considering how to proceed in China Google Vice President Nicole Wong says on March 2 that Google is still considering its next step in China. She says that the company is continuing to investigate a hacking attack that emanated from China in an attempt to spy on dissidents' e-mail accounts. Since disclosing the incident in Jan., Google has called on the Chinese government to stop requiring it to remove links to websites that the government deems subversive or offensive. The company is in talks with Chinese officials and is trying to reach an agreement that would allow the company to continue to do business in China. [Sohu, 2010.03.03] 379 words - PReSEARCH it now 2. US Deputy Secretary will visit China; triggers conjecture about renminbi exchange rate issue US Deputy Secretary of State James B. Steinberg and Jeffrey Bader, senior director for Asian affairs at the US National Security Council, will pay a two-day visit to China on March 2-4. They will exchange opinions with the Chinese side over matters related to China-US relations. Experts guess the two sides may talk about issues like the renminbi exchange rate, China's US Treasury bond holdings and China-US trade relations. The US side will very likely ask China to let the renminbi appreciate. However, despite strong external pressure, the renminbi exchange rate will remain stable. [Sohu, 2010.03.03] 1,831 words - PReSEARCH it now 3. China's road to low-carbon economy arouses debates An insider says that deputies, commissioners and experts who take part in NPC and CPPCC meetings have different views on how to develop China's low-carbon economy. However, China's low-carbon economy is proceeding amid debates. The Jiu San Society puts forward a proposal regarding "pushing forward China's low-carbon economic development." [Sohu, 2010.03.03] 2,541 words - PReSEARCH it now 4. Banks should charge account management fees according to the law According to proposals put forward by Ma Weihua, President of China Merchants Bank and a CPPCC member, commercial banks should have the right to charge account management fees, but this right should be regulated by related legislation. [Sina, 2010.03.02] 716 words - PReSEARCH it now 5. China-US relations expected to see a U-shape reversal US Deputy Secretary of State James B. Steinberg and Jeffrey Bader, senior director for Asian affairs at the US National Security Council, will pay a visit to China on March 2-4. Carla A.Hills, chairwoman of the National Committee on US-China Relations, is full of confidence that they will fulfill the task of promoting Chinese President Hu Jintao's visit to the US in April. She says that Hu Jintao's visit to the US will have a big impact on China-US relations and even may push forward a U-shape reversal in China-US relations. During Hu Jintao's visit to the US, they may talk about the issue of nonproliferation, as well as other global topics about economic imbalance. She says that both China and US' governments are feeling a large amount of pressure due to rising nationalism. [Sina, 2010.03.02] 2,129 words - PReSEARCH it now 6. Will China-US trade friction be intensified? Since the beginning of the year, China-US trade friction has intensified. The US has added pressure on the issue of renminbi exchange rate several times. US intends to reduce its trade deficit with China by renminbi appreciation. At the end of Jan., US President Barack Obama announced the national export initiative, aiming to double exports over the next five years and supporting 2m American jobs. Some experts are worried that more and more cases of China-US trade friction will take place this year. [Sina, 2010.03.02] 4,974 words - PReSEARCH it now 7. It is time for China to transform its economic development mode According to preliminary calculations by the National Bureau of Statistics, China's per capita GDP reached nearly $4,000 in 2009. This indicates that economic and social development in China has entered an important transitional period. The economic society in China will gradually transform from a survival-type to a development-type. Economic growth will focus on quality instead of quantity and the mode of national interests will change greatly. [Sina, 2010.03.02] 1,733 words - PReSEARCH it now 8. New loans in Feb. may fall to RMB600b; China's four big banks lent less than RMB300b An insider says on March 2 that China's four biggest banks had RMB294b in new loans in Feb., a big decline compared with RMB480b in Jan. ICBC lent RMB78b, China Construction Bank lent RMB76b and Bank of China lent RMB58b in Feb. If the new loans by China's four biggest banks account for half of the total, then new loans in Feb. may hit about RMB600b. [Net Ease, 2010.03.03] 1,102 words - PReSEARCH it now 9. State Council may allow provincial governments to issue bonds and regulate debts of local governments It has been reported that some relevant departments under the State Council have already drafted a document regarding the regulation of debts of local governments and the solving of financing management problems of local governments. According to the draft, provincial governments may be allowed to issue bonds to raise money for local economic development. [Eastday, 2010.03.03] 2,062 words - PReSEARCH it now 10. Liu Mingkang: banking industry must insist on risk baseline Liu Mingkang, Chairman of the China Banking Regulatory Commission (CBRC), says that the CBRC will enhance risk management and has asked banks and financial institutions to insist on a risk baseline for the capital adequacy ratio, the NPL provisioning coverage ratio, the leverage ratio and the credit concentration ratio. [caixun, 2010.03.03] 685 words - PReSEARCH it now |
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Prepared by Beijing SinoFile Information Consulting Company Ltd. For full news service coverage, including PReSEARCH |
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