American Chamber China

Membership Directory

Jobs in China

see more jobs in china

see more events

China Newswire

China Wire: February 3, 2012 17 May 2012

03 FEBRUARY 2012	A service of AmCham China and
SELECTED CHINA MEDIA REPORTS	View Archives
1. Property tax has been imposed for one year; analysts claim effect to curb housing prices has begun to appear 2. Ministry of Finance to issue RMB28b worth of one-year treasury bonds on Feb. 8 3. Central bank continues to stop issuing central bank bills; due capital amount is small, which may urge central bank to reduce deposit reserve ratio 4. Profits of industrial enterprises above a designated size grew by 25% last year; profits of petroleum processing and other industries fell by 92% 5. Total of 301 additional SOEs included in scale of state-owned capital operating budget 6. Non-manufacturing PMI in January was 52.9% 7. Hu Jintao meets Merkel; treats Sino-German relationship with more open attitude 8. Chen Yunfeng: housing market will stop decline in May and June, then possibly rebound in H2 9. CSRC: all kinds of work to clean trading places will be completed before June 30 10. Lu Zhengwei: China's economic growth in 2012 will be around 9%
SELECTED FOREIGN REPORTS: 03 FEBRUARY 2012
China Fuels Its Global Energy Supply (AWSJ - subs. req.) U.S. Attacks China Inc. (AWSJ - subs. req.) China's foreign farms are good for world, official says ( SCMP - subs. req.) China services weaken as curbs bite ( SCMP - subs. req.) Mainland industrial profits climb 25pc ( SCMP - subs. req.) Plan for major banks to cut share dividends ( SCMP - subs. req.) Tycoon silent on Facebook stake plan ( SCMP - subs. req.) Wen on brink of EU bailout move (Standard)

1. Property tax has been imposed for one year; analysts claim effect to curb housing prices has begun to appear Chongqing and Shanghai have been imposing a property tax on a trial basis since Jan. 28, 2011. One year later, the effects of the property tax have begun to gradually appear, such as curbing high-end residential housing consumption, excessive housing price growth and optimizing the residential housing supply structure. [Sina, 2012.02.03] 2,381 words - PReSEARCH it now 2. Ministry of Finance to issue RMB28b worth of one-year treasury bonds on Feb. 8 The Ministry of Finance said in a statement on Feb. 2 that it will issue RMB28b worth of one-year book-entry treasury bonds on Feb. 8. [People.com.cn, 2012.02.03] 450 words - PReSEARCH it now 3. Central bank continues to stop issuing central bank bills; due capital amount is small, which may urge central bank to reduce deposit reserve ratio The central bank did not comply with convention and issue central bank bills or conduct repo operations again on Feb. 2. According to a statement released by the central bank, it will conduct 14-day reverse repo operations in the open market. An analyst who rejected to be named said that the central bank may continue to suspend the issuance of central bank bills and adopt reverse repo operations because the due capital amount via open market operations is small in the first quarter of this year. [Net Ease, 2012.02.03] 1,366 words - PReSEARCH it now 4. Profits of industrial enterprises above a designated size grew by 25% last year; profits of petroleum processing and other industries fell by 92% According to the National Bureau of Statistics (NBS), the profits of industrial enterprises above a designated size were RMB5.4544tr in 2011, a 25.4% increase from 2010. Profits of petroleum processing, coking and nuclear fuel processing industries fell by 92.8% compared with 2010. [Net Ease, 2012.02.03] 1,684 words - PReSEARCH it now 5. Total of 301 additional SOEs included in scale of state-owned capital operating budget The Ministry of Finance recently issued a notice about expanding the scale of implementation for the state-owned capital operating budget. Starting in 2012, a total of 301 additional state-owned enterprises will be included in the scale of the state-owned capital operating budget. [Net Ease, 2012.02.03] 5,657 words - PReSEARCH it now 6. Non-manufacturing PMI in January was 52.9% According to statistics issued by the Service Industry Investigation Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing, China's non-manufacturing PMI in Jan. this year was 52.9%, a 3.1% decline from Dec. 2011. [Net Ease, 2012.02.03] 1,247 words - PReSEARCH it now 7. Hu Jintao meets Merkel; treats Sino-German relationship with more open attitude Feb. 3, Chinese President Hu Jintao met German Chancellor Angela Merkel in the Great Hall of the People in Beijing. Hu Jintao said China was ready to work with Germany to adopt an even broader perspective and more open attitude towards the status, goals and orientation of bilateral links by further strengthening dialogue, exchanges and cooperation. [Net Ease, 2012.02.03] 534 words - PReSEARCH it now 8. Chen Yunfeng: housing market will stop decline in May and June, then possibly rebound in H2 Chen Yunfeng, general secretary of the National Real Estate Manager Alliance, said on Feb. 3 that the housing market will stop its decline in May and June and then possibly rebound in the second half of this year because credit policy will be gradually eased. [Net Ease, 2012.02.03] 203 words - PReSEARCH it now 9. CSRC: all kinds of work to clean trading places will be completed before June 30 Guo Shuqing, chairman of the China Securities Regulatory Commission (CSRC), said on Feb. 2 that the CSRC will ensure that all kinds of work to clean trading places is completed before June 30. Stocks, futures and financial derivatives in disguise will be included in the crackdown. [Hexun, 2012.02.03] 694 words - PReSEARCH it now 10. Lu Zhengwei: China's economic growth in 2012 will be around 9% Feb. 2, Standard & Poor's predicted that China's economic growth will fall to 8% in 2012. Lu Zhengwei, a famous economist, said during an interview that China's economic growth in 2012 will be around 9%. [China National Radio Network, 2012.02.03] 344 words - PReSEARCH it now

This daily media update on China is provided by For more information on media intelligence services in China contact us at clientservice@mediamonitors.com.cn or visit our website at www.mediamonitors.com.cn Free Client Hotline: 400-687-6875 Media Monitors trading as SinoFile ( 塞上翁 ) Information Consulting in China - Get the AmCham China Wire with your RSS aggregator