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Cham-China Wire: March 4, 2010 05 February 2012
| 04 MARCH 2010 | A service of AmCham-China and  |
| SELECTED CHINA MEDIA REPORTS | View Archives |
| 1. Mutual respect is key for stable development of China-US relations 2. CBRC sends a warning 3. US probes China's holding of $90b of US Treasury bonds 4. China overtakes US as top property market 5. Luo Fuhe: improving policies and measures; keeping stable and rapid economic development 6. China's high-speed railways to top the world; China will invest RMB900b in the next three years 7. Yi Gang, deputy governor of central bank: cross-border carry trade may push up expectations of renminbi appreciation 8. US' "seven weapons" will block China's foreign investment 9. US considering imposing anti-subsidy tax on RMB exchange rate 10. US imposes anti-subsidy duties on coated paper imported from China |
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| SELECTED FOREIGN REPORTS: 04 MARCH 2010 | |
| Chávez, Shunning IMF, Gushes About China Oil-for-Credit Deal (AWSJ - subs. req.) Ready, Set, Go: China’s NPC Frenzy (AWSJ - subs. req.) China vs. U.S.: Commentators Square Off (AWSJ - subs. req.) China Announces 7.5 Pct Jump in Defense Spending (NYT - reg. req.) China Iron Ore Price Hike Report Seen as "Posturing" (NYT - reg. req.) Developing Nations Setting Torrid Pace for Mergers (NYT - reg. req.) Delegate suggests closing internet cafes - then has website hacked (SCMP - subs. req.) Sina profit falls short of expectations (SCMP - subs. req.) Beijing drafts rules to rein in local government borrowing (SCMP - subs. req.) Politicians, Lobbyists and Complainers Descend on Beijing (IHT) Expo hopes ease Clear Media blow (Standard) |
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| 1. Mutual respect is key for stable development of China-US relations March 2, Zhao Qizheng, spokesman for the second session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), uses an automotive analogy to describe China-US relations and the message is the hope for a smoother ride. He says, "It has two drivers. Americans should know this. China also has control over the steering wheel, the accelerator, and the brake. The two drivers must consult with each other to drive the car. Otherwise it will only spin around." [Sina, 2010.03.04] 1,145 words - PReSEARCH it now 2. CBRC sends a warning The China Banking Regulatory Commission (CBRC) recently issued a circular about risk indication of housing mortgage loans. According to the circular, commercial banks are required to tighten approval and examination for applicants of housing mortgage loans. They are also required to strictly carry out the guarantee admittance system. CBRC asks commercial banks to carry out dynamic and follow-up monitoring for such guarantees. [Sina, 2010.03.04] 262 words - PReSEARCH it now 3. US probes China's holding of $90b of US Treasury bonds This was the first time the US and China held a hearing over China's holding of US Treasury bonds since the US Department of Finance published revised data for China's holding of US Treasury bonds. According to the latest data, as of the end of Dec. 2009, China held $894.8b worth of US Treasury bonds and was still the world's biggest holder of US Treasury bonds. Michael Wessel, Chairman of US-China Economic and Security Review Commission, said the US' purchase of Chinese commodities and China's purchase of US Treasury bonds has formed mutual relations. [Sina, 2010.03.03] 945 words - PReSEARCH it now 4. China overtakes US as top property market March 3, Cushman & Wakefield LLP says in a research report that China overtook the US as the world's biggest property investment market last year and will probably keep the lead in 2010 through economic growth and a lower reliance on debt. Real estate investment in China more than doubled to $156.2b last year, while the total for the US slumped 64% to $38.3b. Excluding residential investments, the US came third after China and the UK. [Sina, 2010.03.03] 882 words - PReSEARCH it now 5. Luo Fuhe: improving policies and measures; keeping stable and rapid economic development Luo Fuhe, vice chairman of 11th CPPCC National Committee, says on March 3 that the 11th CPPCC National Committee last year put forward more than 1,800 proposals about the financial crisis, expanding domestic demand, structural adjustment, self-innovation, energy-saving and emission reduction, ecological environmental protection, low-carbon economy, work for farmers, rural areas and agricultural, coordinated development between urban and rural areas. Many proposals have been adopted and carried out by the party and the central government. [Sina, 2010.03.03] 974 words - PReSEARCH it now 6. China's high-speed railways to top the world; China will invest RMB900b in the next three years The length of China's high-speed railway will reach 13,000 km by the end of 2012, forming the world's largest high-speed railway network, according to the latest plan from the Ministry of Railways. In the next three years, China will see 26,000 km of railways put into use, among them 9,200 km for high-speed trains, Minister of Railways Liu Zhijun said during the 2010 National Railway Working Conference. The cost of building 1 km of lines for high-speed railways is about RMB100m; investment in the network for the next three years will amount to more than RMB900b. [Net Ease, 2010.03.04] 2,449 words - PReSEARCH it now 7. Yi Gang, deputy governor of central bank: cross-border carry trade may push up expectations of renminbi appreciation Yi Gang, deputy governor of the central bank, says that since China's interest rate is at quite a high level, cross-boarder carry trade may push up expectations of renminbi appreciation. He points out that China's net inflow of foreign exchange may rise in 2010. As the global economy gradually recovers, China's foreign trade may start to improve. China's FDI may also rise at a stable pace, but cross-border capital inflow pressure will also increase. [Lgmi, 2010.03.04] 946 words - PReSEARCH it now 8. US' "seven weapons" will block China's foreign investment Leo Hindery Jr., a member of the Council on Foreign Relations, said on Feb. 26 that he is unsatisfied with China's efforts to lead the global economic recovery after a two-week visit to China. He put forward seven proposals, which seem very much like trade protectionism, to the US government and congress in order to restrain China. For example, the US should impose a retaliatory duty on goods imported from China in order to recover 150%-200% of the IPR value stolen by China, the US government should carry out the principle of "buy American," the US should strictly check on China's investment in the US and the US should study China's holding of US Treasury bonds. He suggests the US enhance its monitoring of China's investment activities. [JRJ, 2010.03.04] 2,302 words - PReSEARCH it now 9. US considering imposing anti-subsidy tax on RMB exchange rate Tim Turman, spokesman for the International Trade Administration under the US Department of Commerce, says, "We're considering an anti-subsidy investigation for manipulating the RMB exchange rate." [ifeng.com, 2010.03.04] 1,830 words - PReSEARCH it now 10. US imposes anti-subsidy duties on coated paper imported from China March 2, the US Department of Commerce says the US has imposed a preliminary anti-subsidy duty of 12.83% on coated paper from China's Gold East Paper and 3.92% on coated paper from China's Shandong Sun Paper Industry. Other Chinese enterprises involved in the anti-subsidy probe will face anti-subsidy duties of 8.83% on their coated paper. [Hexun, 2010.03.04] 563 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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