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AmCham-China Wire: March 5, 2010 05 February 2012
| 05 MARCH 2010 | A service of AmCham-China and  |
| SELECTED CHINA MEDIA REPORTS | View Archives |
| 1. Vice Minister of Health Huang Jiefu: Human Organ Transplantation Regulations to be revised this year 2. Member of CPPCC says impact of outflow of hot money on China should not be underestimated 3. Jia Kang: property tax won't be imposed forever on the first apartment of home buyers 4. Report says China surpassed the US to become the world's largest real estate investment market last year 5. Ye Tan: China can not allow renminbi to appreciate rapidly 6. Supervision and Management Methods of Local Governments' Financial Platforms to be issued in March this year at the earliest 7. EIBC to issue bonds worth RMB190 billion 8. Zhu Jianfang: renminbi may begin to appreciate in second or third quarter of the year 9. It is irrational to guess that China will sell US Treasury bonds 10. US may take China to WTO over Google saga |
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| SELECTED FOREIGN REPORTS: 05 MARCH 2010 | |
| China Gives Glimpse of U.S. Holdings (AWSJ - subs. req.) Toyota Plans Sales Push in China (AWSJ - subs. req.) China Tightens Belt But Keeps Eye on Social Rifts (NYT - reg. req.) Microsoft to Stay Its China Course Despite Google Spat (NYT - reg. req.) Wen boosts social spending, targets minorities (SCMP - subs. req.) Beijing vows steady course, expects 8pc growth this year (SCMP - subs. req.) Lending now stable, says mainland regulator (SCMP - subs. req.) Market Defies Fear of Real Estate Bubble in China (IHT) China Says It Is Slowing Down Military Spending (IHT) |
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| 1. Vice Minister of Health Huang Jiefu: Human Organ Transplantation Regulations to be revised this year March 4, Huang Jiefu, CPPCC member and Vice Minister of Health, says the "Human Organ Transplantation Regulations" will be revised this year. The Red Cross Society of China will be in charge of the donation of organs. [Tencent, 2010.03.05] 730 words - PReSEARCH it now 2. Member of CPPCC says impact of outflow of hot money on China should not be underestimated March 4, Li Jiajie, Vice Director of the Economy Committee of the CPPCC, says the outflow of hot money over a short period of time will impact China's capital market. Statistics show that the inflow of hot money into China has reached $800b. China's economy is facing pressure from the appreciation of the renminbi, a decrease in exports and a bubble in the real estate market. [Sohu, 2010.03.05] 684 words - PReSEARCH it now 3. Jia Kang: property tax won't be imposed forever on the first apartment of home buyers Jia Kang, a CPPCC member and Director of the Institute of Fiscal Science under the Ministry of Finance, says that levying a property tax will bring stable tax revenue to local governments and also curb speculation in the real estate market. At least, a price surge in the current real estate market won't take place. However, he does not suggest that China levy a property tax on the first apartment of home buyers forever. [Sohu, 2010.03.05] 1,794 words - PReSEARCH it now 4. Report says China surpassed the US to become the world's largest real estate investment market last year March 3, according to a research report issued by Cushman & Wakefield, China surpassed the US to become the world's largest real estate investment market in 2009. Worldwide investment in real estate was $365b in 2009. The figure was $156.2b in China, up 100% from 2008 and accounting for about 40% of global investment. [Net Ease, 2010.03.05] 999 words - PReSEARCH it now 5. Ye Tan: China can not allow renminbi to appreciate rapidly This article is written by Ye Tan, a famous financial and economic commentator. She says that China can not allow the renminbi to appreciate rapidly. If the renminbi appreciates by 20% in the short-term then domestic exporters can not survive, even though they are given an export tax rebate. Meanwhile, the price of capital will fall sharply. At present, the best way is to keep the renminbi exchange rate unchanged, increase welfare of local residents, set up a basic social security system and reduce taxes of SMEs. Capital re-distribution and inner adjustment can transfer the pressure of renminbi appreciation. This means China should accelerate the transformation of its economic development mode. [JRJ, 2010.03.05] 1,744 words - PReSEARCH it now 6. Supervision and Management Methods of Local Governments' Financial Platforms to be issued in March this year at the earliest March 4, Yan Qingmin, CPPCC member and Director of the Shanghai Municipal Banking Regulatory Commission, says the "Supervision and Management Methods of Local Governments' Financial Platforms" will be issued by the Ministry of Finance in March this year at the earliest. [JRJ, 2010.03.05] 907 words - PReSEARCH it now 7. EIBC to issue bonds worth RMB190 billion March 4, the China Export-Import Bank of China (EIBC) announces that EIBC will issue policy finance bonds worth RMB190b for 2010, including medium-term and long-term bonds worth RMB160b and short-term bonds worth RMB30b. [JRJ, 2010.03.04] 353 words - PReSEARCH it now 8. Zhu Jianfang: renminbi may begin to appreciate in second or third quarter of the year March 4, Zhu Jianfang, chief economist at CITIC Securities, says that after the CPPCC and NPC meetings China may raise the interest rate, either at the end of the first quarter or in the early second quarter of the year. The renminbi may begin to appreciate in the second or third quarter of the year. The renminbi against the US dollar may appreciate by 3%-5% in 2010 on the whole. [ifeng.com, 2010.03.05] 2,069 words - PReSEARCH it now 9. It is irrational to guess that China will sell US Treasury bonds Federal Reserve Chairman Ben Bernanke is worried that China may sell large amounts of US Treasury bonds. The article thinks it is unnecessary to worry about it. The possibility that China will sell large amount of US Treasury bonds on the international financial market is close to zero. Selling US Treasury bonds will make China suffer direct economic losses. Meanwhile, it will incur big political and economic pressure from the US and its allies. [Hexun, 2010.03.05] 1,147 words - PReSEARCH it now 10. US may take China to WTO over Google saga The US government is pondering a suggestion from Google to take "China's Internet censorship to the World Trade Organization (WTO) as an unfair barrier to trade," Bloomberg reported Tuesday. "The US Trade Representative's office (USTR) is consulting with industry groups about China's Internet policies," the report quoted Carol Guthrie, USTR spokeswoman, as saying, adding that two groups with links to Google – the Computer & Communications Industry Association and the First Amendment Coalition – have told the USTR that "China's restrictions on Web access and content discriminate against US Internet companies and online commerce." The report came one day after Nicole Wong, Google's deputy general counsel, attended a congressional hearing in Washington on Monday, where she said that going to the WTO is "well worth consideration." [CCID, 2010.03.04] 529 words - PReSEARCH it now |
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This daily media update on China is provided by SinoFile Information Consulting. |
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