Nonferrous Metals Import Up in First 4 Months 76 Percent

Trade Deficit in Farm Produce Reaches US$100m in First 4 Months China's trade deficit in farm produce reached US$100 million in the first four months of 2007, the Ministry of Commerce (MOFCOM) said Thursday.

Broadband Users Approach 100 Mln There are now 97 million broadband users in China, the world's second highest figure after the United States, said Deputy Secretary-General of the International Telecommunication Union (ITU) Zhao Houlin on Tuesday.

Chinese Banks Issue 1.1 Bln Bank Cards Chinese banks have issued more than 1.1 billion bank cards, according to figures released by the People's Bank of China.

Direct Outbound Investment to Exceed US$60 Bln China's direct outbound investment will exceed US$60 billion by 2010, said Assistant Minister of Commerce Chen Jian on Monday.

Software Industry Posts 28 Pct Growth in First 4 Months China's software industry continued to expand during the first four months of this year, with business income up 28 percent on the previous year, the Ministry of Information Industry said on Friday.

Retail Sales of Hotel, Catering Up in First 4 Months China's retail sales in the hotel and catering sectors jumped 17.6 percent year-on-year in the first four months of 2007, the Ministry of Commerce said on Wednesday.

Trade to Reach US$2 Trillion in 2007 China's trade in goods will surpass US$2.1 trillion in 2007, a 20 percent year-on-year increase, the Ministry of Commerce said in a report yesterday, based on a review of China's foreign trade in 2006 and the first quarter of 2007.

More Bank Loans for SMEs US$232.5 Billion

Sales of Software Industry to Hit 1.1 Trillion Yuan in 2010 Sales of China's software industry are expected to reach almost 1.1 trillion yuan (US$143 billion) in 2010, according to the Ministry of Information Industry.

Car Exports Rise in Q1 5.32 Percent

Stocks Surge Through 4000 Barrier After another day of hectic activity, the Shanghai Composite Index broke through the psychological barrier of 4000 points to close at another record high of 4013.09 yesterday.

Economy Expected to Grow by 10.8% in Q2 The country's gross domestic product (GDP) is expected to grow by 10.8 percent in the second quarter of this year, though the expansion of the trade surplus should slow during the period, according to the State Information Center, a research body under the National Development and Reform Commission.

Housing Price Expected to Rise in Q2: Report Housing prices will continue to rise in China in the second quarter of 2007, a report released by the All-China Federation of Industry and Commerce (ACFIC) said recently.

Listed Companies See Profits Soar in Q1 85 Percent

Imports to Provide Half of Gas Demand by 2020: Report China's natural gas consumption is to reach 100 billion cubic meters by 2010, almost double the figure for last year and well beyond domestic production, according to a new report.

Airlines to Carry 3.4 Mln Passengers During May Day Holiday China's airlines are expected to carry a total of 3.4 million passengers during the upcoming weeklong May Day holiday, up 12 percent year on year, the General Administration of Civil Aviation (CAAC) forecast on Thursday.

M2 Supply Up in March 17.3 Percent

Economy Up 11.1% in 1st Quarter The Chinese economy has started 2007 on a strong note, expanding by 11.1 percent in the first quarter. Figures provided by the National Bureau of Statistics (NBS) yesterday show that the gross domestic product (GDP) reached 5.03 trillion yuan (US$653 billion).

Number of Bank Cards Reaches 1.1 Bln Chinese banks have issued 1.1 billion bank cards, which accounted for almost a fifth of last year's retail sales, according to a report from People's Bank of China.

Textile and Apparel Exports Fall in March US$7.98 Billion

Price of New Housing Up 6% Prices continued to rise in China's real estate market last month, with Shenzhen, Changsha, Beijing and Guangzhou leading cities in the price hikes, sources with the National Development and Reform Commission said Tuesday.

10% of GDP Comes from Sea: Report China's seas generated 2.09 trillion yuan (US$270 billion), or just over 10 percent of gross domestic product (GDP) last year, according to a report on the country's marine economy in 2006.

Q1 Business Climate Index Remains High 8.2% Rise

Funds Work Both Ways for Nation China is one of the top overseas direct investment recipients and is also increasing its investments in other economies, especially in Africa, says a UN report.

Record Number of A-share Accounts Opened in First Quarter 4.79 Million

China to See Hefy Investment Growth in 2007 21 Percent

SOE Profits Surge in First 2 Months 39 Percent

53 Mutual Funds Report US$6.5 bln Profits Fifty-three mutual funds in China reported operating profits of 49.96 billion yuan (US$6.46 billion) in 2006, thanks to the country's bull markets. The record operating profits were seven times greater than the seven billion yuan earned in 2005 by all 206 mutual funds under 46 fund management companies in China.

Mainland Firms Gain Little from Sourcing Wave Findings from a recent Boston Consulting Group study on global companies with China sourcing offices indicated that home-grown Chinese companies are not always benefiting from the surge of China sourcing as much as expected, especially in highly competitive industry segments.

Sales Up 24% in Electronic Information Sector in 2006 Sales in China's electronic information sector rose 23.7 percent to 4.75 trillion yuan (US$608.97 billion) in 2006, according to a report from the Ministry of Information Industry.

2007 to See Record Online Sales in China A newly published report by iResearch, an Internet research company, has estimated that China's online sales will surpass 51 billion yuan (US$6.38 billion) in 2007, up 63 percent on 2006.

Industrial Output Up in First Two Months 18.5 Percent

Retail Sales Up 14.7% in First Two Months China's retail sales of consumer goods extend the momentum of last year with a 14.7-percent growth in the first two months of 2007, the latest statistics from the National Bureau of Statistics (NBS) showed.

Corporate Goods Prices Rise in February 4.5 Percent

Bumper FDI Growth Continues The realized foreign direct investment (FDI) in China climbed over 13 percent in the first two months of this year. The news comes amid concerns that the newly introduced unified corporate income tax rates might affect the FDI inflow.

Car Sales Up 33% in Jan.-Feb. Period 712,200

China Plants 5.23 mln Hectares of Trees in 2006 China planted 5.23 million hectares of trees in 2006, bringing the country's forest acreage to 175 million hectares, according to a report issued by the State Forestry Administration (SFA) on Sunday.

Listed Companies Make Juicy Profits A total of 206 out of the more than 1,400 Chinese listed companies reported a close to 90 percent rise in profits in 2006, according to their annual reports.

Power Sector Reports 43% Surge in Net Profits Last Year 14.46 Billion Yuan

Mobile Phone Users Expected to Top 600m by 2010 Mobile phone users in China are expected to top 600 million by 2010, predicts the Ministry of Information Industry (MII) on Wednesday.

China Has 3.48 Mln Km of Highways in Operation 3.48 Million Kilometers

52b Yuan for Airport Construction in Western Regions 52 Billion Yuan

New Track to Aid Development in West 7000 Kilometers

Chinese Stock Shares Slump Sharply Chinese shares showed a sharp decline on Tuesday, with the major Shanghai index down 8.84 percent, the biggest daily drop in 10 years. Analysts blame profit taking for the dramatic drop.

Profit of China's Steel Industry Hits Historical High 169.95b Yuan Profits

China to Issue 30 Billion Yuan in T-bonds China's Ministry of Finance has announced it will issue 30 billion yuan (US$3.75 billion) worth of certificate treasury bonds next month, the first batch of its kind to be issued this year.

Money Supply Rises in January The broad measure of the money supply (M2), which covers cash in circulation and all deposits, grew 15.9 percent year-on-year to 35.2 trillion yuan in January, the People's Bank of China (PBC) said on Thursday.

US$12.6 Bln Worth of Spirits Sold Last Year US$12.6 Billion

Pawnbroking Turnover Soars in 2006 US$12.3 Billion

Logistics Look to 30% Yearly Rise 30 Percent

Report Predicts Interest Rate Hike This Year 0.27 Percentage Points

China's R&D Investment Hits Record High China's investment in research and development (R&D) rose by 22 percent last year, said Minister of Science and Technology Xu Guanhua on Monday.

Over 10 Mln Chinese Cultural Relics Lost Overseas: Report Chinese experts estimated that more than 10 million Chinese cultural relics have been lost overseas, Monday's overseas edition of the People's Daily reported. Most of the cultural relics were robbed and illegally shipped out of China during the war times before the founding of the People's Republic of China, the Chinese Culture Relics Society said.

300 Bln Yuan Under the Hammer in 2006 China enjoyed a strong auction market last year which saw a turnover of close to 300 billion yuan (US$37.9 billion), 30 times that of a decade ago, said the Ministry of Commerce.

Customs Revenue Hits Record High US$78 Billion

China's Demand for Coal Set to Rise China's coal output is expected to reach 2.6 billion tons in 2010 as it continues to be the nation's most important energy resource, according to the outline of the 11th Five-Year Plan (2006-10) for the industry.

China's Lottery Sales Breaks 80 Billion Yuan in 2006 China's lottery sales in 2006 increased to a record high of 81.93 billion yuan (US$105.4 billion). China launched its first lottery in June 1987. Lottery sales are one of the major sources of funds for the country's social welfare programs, despite this, gambling is illegal in China.

Report: Online Gaming Industry Gains Momentum in 2006 Revenue from China's online gaming industry reached 6.5 billion yuan (US$840 million) in 2006, up 73 percent on a year earlier, and could quadruple by 2011 as Internet access becomes more widespread, according to market researcher IDC.

Foreign Exchange Reserve Tops US$1 Trillion China's foreign exchange reserve reached US$1.0663 trillion at the end of 2006, announced the People's Bank of China on Monday. The figure represents a 30.22 percent rise over 2005. It was the first time that China's foreign exchange reserve were confirmed to have exceeded US$1 trillion, according to the central bank.

China Spends Extra US$15.2 Bln on Oil Import in 2006 Soaring oil price on world market has made Chinese companies spend an additional US$15.2 billion on buying oil from abroad last year, according to figures released by the General Administration of Customs on Sunday.

2006 Trade Volume and Surplus Set New Records China's foreign trade reached a record US$1.76 trillion last year accompanied by the trade surplus widening to US$177.5 billion, according to official figures.

Wallets Open for Online Spending Chinese Internet users spent 276.76 billion yuan (US$35.51 billion) on Internet services in 2006, close to 50 percent more than the previous year, as the number of netizens rose to 136 million by the end of 2006, the Internet Society of China said yesterday.

Guangdong Leads China in Foreign Trade US$500 Billion

Beijing's Per Capita GDP Keeps Rising US$6,000

Beijing's House Prices Jump 42% in Past 3 Years Real estate prices in Beijing have increased by 42 percent over the past three years, says a report released by the website Sina.com and New Real Estate magazine.

Trade Surplus Predicted to Hit US$190 Billion in 2007 China's trade surplus may surge to a new record high of around US$190 billion in 2007 despite a series of government efforts to both curb exports and encourage imports, the Chinese Academy of Sciences predicted in its latest analytical report.

China's Expansion of Rural Road Network A total of 300,000 kilometers of rural road in China will be built and upgraded in 2007 to facilitate local transport, according to the communications authority.

Textile Exports to Maintain Steady Growth in 2007 15%

Over 77% Users Want to Buy 3G Handsets: Survey A survey released here Thursday claims that more than 77 percent of Chinese mobile users are keen to buy 3G handsets when they become available.

Farmers Better off by An Average 133 Yuan in 2006 China's 900 million farmers were an average 133 yuan (US$17) better off this year after the government scrapped the agricultural tax.

Tianjin to See Surging Foreign Trade This Year 20 Percent

Aluminium Output May Rise in 2007 14% Rise

ICBC Market Value Soars to World No. 3 The A share of the Industrial and Commercial Bank of China (ICBC) rose 10 percent daily limit to 5.21 yuan Monday, making itself the third largest bank in the world with market value at US$214.1 billion.

Market Value of Chinese Stocks Hits All-time High China's bullish stock market saw total market value hit a record high of eight trillion yuan (over one trillion US dollars) on December 20, making it the largest emerging stock market in the world.

November Housing Prices in 70 Major Cities Up 5.8% The average housing prices for newly-built apartments in China's 70 major cities rose 5.8 percent year-on-year in November, sources with the National Development and Reform Commission (NDRC) said Wednesday.

Exports of Electronic, Information Products to Top US$300b Exports of China's electronic and information products are expected to exceed US$300 billion in 2006, according to Lou Qinjian, deputy minister of Information Industry.

LCD TV Output Rises in First 10 Months 124 Percent

Shanghai Port Sees Rising Foreign Trade in Jan.-Nov. 22% Growth

Chinese Benchmark Stock Index Hits New High 2,332.43 Points

More Faulty Vehicles Recalled This Year Twenty-two foreign and domestic carmakers recalled more than 283,500 flawed vehicles in China this year, said an official with the state quality watchdog on Monday.

Urban Fixed Asset Investment Up in Jan.-Nov. Period 26.6% Growth

Chinese Benchmark Stock Index Close Record High The benchmark Shanghai Composite Index that covers both A- and B-shares rose 1.15 percent to close at 2,249.11 points on Thursday afternoon, breaking the record in history that was created more than five years ago.

RMB Hits New High Against US Dollar The value of the Renminbi (RMB) yuan against the US dollar hit a new record high on Thursday with a central parity rate of 7.8197 yuan to one dollar, according to the Chinese Foreign Exchange Trade System.

Farm Product Exports to Increase 12% This Year China's agricultural product exports are expected to grow about 12 per cent to hit US$30 billion this year despite overseas technical barriers and cost increases, according to a senior official with the Ministry of Commerce.

November Retail Sales Up 14.1 Percent

China to Remain Locomotive for Asia Pacific in 2007: S&P China, India and Japan, the three major regional economies, will continue to drive economic development in the Asia Pacific region in 2007. China, in particular, continues to be a key locomotive for regional growth, with the economic slowdown in the US expected to dampen China's growth momentum only marginally.

Trade Surplus Stands at US$22.9 bln in November China's monthly trade surplus stood at US$22.9 billion in November, according to a latest report from the General Administration of Customs. It also witnessed a slight drop from October's US$23.83 billion, this year's fifth monthly record high.

WB Loans to Back China's Railway Construction US$200 Million

Export Growth to Slow down Next Year China's export growth is expected to slow down next year, according to a blue book released by the Chinese Academy of Social Sciences (CASS), a major think tank of the government.

Fears of High Jobless Rate in 2007 Grow At least 15 million people roughly the population of Beijing may not be able to find jobs in Chinese cities next year, when the economy is expected to grow at below 10 percent, according to government think-tanks.

Chinese Bloggers Hit 19.87 Mln: Report The number of bloggers who use Chinese reached 19.87 million in early November, according to a report released by Chinese Internet company Baidu on Wednesday.

Gov't Procurement to Slash Medical Costs The central government will earmark one billion yuan (US$125 million) to purchase medical services for 400 million urban residents in the middle-west areas in 2007.

Retail Sales of Consumer Goods to Hit 8.6 Trillion Yuan in 2007 China's retail sales of consumer goods are predicted to surge 13 percent to hit 8.6 trillion yuan (US$1.075 trillion) in 2007, said the Ministry of Commerce on Tuesday.

Customs Revenue Up 17.7% from January to November China's customs revenue reached 565.3 billion yuan (US$72.5 billion) during the January-November period of this year, an increase of 17.7 percent from the same period last year, the General Administration of Customs said on Tuesday.

Profits of Major SOEs Rise Fast in First 10 Months US$95 Billion

Export of Electronic Info Products Robust US$288.62 Billion

Steel Industry to See 'Slower Growth?' China's steel industry is expected to witness slower growth and more consolidation over the next few years, according to one of the nation's top statisticians.

Nation Now Ranks 2nd in R&D Spend China should surpass Japan this year to become the world's No 2 investor in research and development after the United States, the Organization for Economic Cooperation and Development (OECD) said yesterday.

Turnover in Futures Market Jumps US$2.4 Trillion

Crude Oil Imports Down 20% in October China's imports of crude oil dropped by 3.8 percent from a year ago to 10.82 million tons in October, according to statistics provided by the General Administration of Customs.

ADB Supports N. China Railway Project The Asian Development Bank (ADB) announced on Wednesday a loan of US$300 million to help fund construction of a 944-km railway line across north China.

After-tax Profits of SOEs Expected to Soar 1 Trillion Yuan

Beijing Auto Show Closes with Record Turnout The Beijing auto exhibition 2006 closed Monday with a record turnout of almost 600,000 visitors in 10 days. The event, which has been held biennially since 1990, also drew 6,376 journalists, including 1,135 from outside China.

RMB Breaks 7.85 Mark Against US Dollar The value of the China's Renminbi (RMB) against the US dollar hit a new high on Monday with the central parity rate at 7.8402 yuan to one dollar, breaking the 7.85 mark.

Accommodation and Catering Sales Up 16.2% for First 10 Months According to the website of the Chinese Ministry of Commerce, in October this year the total retail sales of the accommodation and catering industries reached 96.5 billion yuan (US$12.27 billion). This is a year-on-year increase of 17.9 percent and 3.6 percent higher than the size of the total retail sales of consumer goods.

Pyramid Schemes Go up the Ziggurat in China Chinese police reported 62,000 economic crimes in the first ten months of this year, an increase of 9.1 percent year-on-year, the Ministry of Public Security (MPS) said on Thursday.

'Nation Becoming Net Corn Importer' 2.27 Mln Tons

Industrial Profits Grow Strongly in Jan-Oct Period China's industrial profits rose a robust 30.1 percent in the first ten months, back to their best levels. The profits of all state companies and companies with annual sales of over five million yuan reached 1469.7 billion yuan (US$186 billion) in the first ten months.

Huge Rail Investment Announced China will invest 1.5 trillion (US$190 billion) to increase the nation's rail network to over 90,000 kilometers by 2010. China also plans to extend the expressway network by 85,000 kilometers in the next 30 years at an estimated cost of two trillion yuan (US$250 billion).

China Expects US$156.5b in Tourism Revenue in 2010 China is expected to earn US$156.5 billion from tourism in 2010, says Liu Kezhi, a senior official with the China National Tourism Administration (CNTA).

China to Increase Education Spending: Premier 4 Percent of GDP

Trade Deficit in Farm Produce Up in First 9 Months 45 Percent

Local Officials Embroiled in Election Scandals 130 Officials

Alumina Output to Reach 13 Mln Tons This Year China's alumina output this year would reach 13 million tons and the earlier estimates of 14 million tons in 2010 were "obviously too low," an industry association official has said.

Shanghai Stocks Soar to 5-year High A continuing massive inflow of domestic and foreign funds yesterday pushed the Shanghai stock index to a 5-year high, with much of the buying concentrated in banks and blue chips.

6 Mln Chinese Children Study in Bilingual Schools In China approximately six million children are attending more than 10,000 bilingual schools using both Mandarin and ethnic languages. The ethnic minorities' rights to receive education and cultivate more skills in both Mandarin and ethnic minority dialects are well guaranteed.

Aquatic Products to Hit 60 Mln Tons by 2010 China's aquatic products will hit 60 million tons by 2010, up 18 percent on that of 2005, according to the country's 11th Five-year Plan (2006-2010) for the fishery industry, revealed by the Ministry of Agriculture on Thursday.

Severe Drought in Eastern and Southern China Drought has hit wide areas of eastern and southern China and will likely continue in the weeks to come. In total approximately 6.7 million hectares in east China's Fujian Province have been affected by the drought.

More Quotas for QFII US$8.65 Billion

FDI in China Grows After Decline Realized foreign direct investment (FDI) in China rose in October after annualized declines in the previous four months, the Ministry of Commerce said yesterday. The amount grew nearly 16 percent to US$5.99 billion and 3,047 foreign-invested enterprises were approved.

Urban Fixed Asset Investment Jumps 26.8 Percent

Chinese Share Prices Close at Five-year High Share prices at China's Shanghai Stock Exchange saw the highest point in the past five years with the major index closing at 1922.94 points on Wednesday.

Retail Sales Surge 14.3% in October China's retail sales surged 14.3 percent from the previous year to 699.8 billion yuan in October, the National Bureau of Statistics (NBS) said on Tuesday.

Insurance Industry Booming US$250 Billion

Real Estate Investment Up in First 3 Quarters 24.3 Percent

Foreign Trade Volume Hits New High US$1.425 Trillion

Savings Deposits See First Drop in Five Years A central bank report shows that China's renminbi savings deposits dropped in October. This is the first decline since June 2001 and the central bank attributed active stock trading to the fall.

CPI Up in October 1.4 Percent

TCM Revenue Grows 20% Annually Revenues of the Traditional Chinese Medicine (TCM) industry have grown 20 percent annually in the past decade, and are now three times higher than in 1996, said a health official.

Forestry Industry Booming US$150 Billion

Over Seven Mln New Cars to Be on the Road China's production and sales of cars is expected to surpass 7 million this year, said the China Association of Automobile Manufacturers on Thursday, based on the country's automobile production and sales position in the first 10 months of this year.

Number of Chinese Drug Addicts Drops 720,400

Urban Unemployment Rate Targeted Under 5% China will try to keep its urban unemployment rate below 5 percent between 2006 and 2010 despite mounting pressure from growing labor forces.

Arable Land Suffering from Pollution One Tenth

Monthly Trade Surplus Hits Record High China's trade surplus surged to a record US$23.8 billion in October as imports slowed and exports further accelerated, putting more pressure on the yuan's appreciation and ballooning foreign exchange reserves.

China Share Prices Reach Five-year High Share prices on China's Shanghai and Shenzhen stock exchanges reached a five-year high on Monday, driven by steel and metallurgical stocks, the two bourses recording a total turnover of 42.8 billion yuan (US$5.42 billion).

Accidents Cause Fewer Deaths in October Over 9,000 Deaths

50% of Chinese to Live in Urban Areas by 2010 50 percent of the Chinese population will live in urban areas by 2010 with the figure expected to reach 60 percent by 2020, said Qiu Baoxing, vice minister of construction at an ongoing Shanghai international urbanization forum.

20b Yuan in Oil Profit Taxes Redistributed China has collected over 20 billion yuan (US$2.5 billion) in special taxes on the profits of its crude oil producers since March, according to Vice Finance Minister Lou Jiwei.

China Pumps Up Use of Desalinated Water China made breakthroughs in key seawater desalination technologies with the result that it was able to produce 120,000 tons of desalinated water a day as of the end of 2005, lowering costs to about 5 yuan (US$0.63) a ton, the National Development and Reform Commission revealed on its website.

Foreign Trade to See Robust Growth in 2006 US$1.7 Trillion

Auto Imports Rise in First Three Quarters 55.4% Growth

Trading Volume of Futures Market Surges 56% The trading volume of China's futures market surged to 16.9 trillion yuan (US$2.1 trillion) in the first 10 months of this year, up 56.27 percent on last year.

House Prices Up 6.3% in September Housing prices in 70 major Chinese cities rose 6.3 percent in September over the same period last year but the growth rate was 0.8 percent lower than in August.

Bank of China Reports Net Profit of in First 9 Months 32.46 Bln Yuan

GDP to Grow 7.5% Annually in Next 5 Years China's gross domestic product (GDP) is expected to grow by about 7.5 percent annually in the next five years, said Ma Kai, Minister of the National Development and Reform Commission (NDRC), on Monday.

China to Buy 150 A320 Aircraft China Aviation Supplies Import and Export Group Corporation signed a framework agreement with the European aircraft maker Airbus to buy 150 A320 series airliners on Thursday.

Excess Investment in Cement Sector Controlled 2.63% Drop

Private Firms Overtake State Sector in Profit Growth Chinese private companies reported profit growth rate of 52.5 percent in the first nine month, more than double of their state counterparts. Figures with the National Bureau of Statistics show that profit for the state-owned companies only grew 20.1 percent.

Crooked Officials Punished Altogether 67,505 government officials have been punished in China for corruption in less than four years since 2003, with more than 17,505 prosecuted and sanctioned in the first eight months of 2006 alone.

Farmers' Income Grows in First Nine Months 11.4 Percent

CPI Climbs Slightly in First 9 Months 1.3% Growth

Inadequate Storage Causes Huge Grain Losses 20 Million Tons

5th CAREC Ministerial Conference to Kick off 200 Officials

China Southern Airlines, Boeing Sign Big Deal US$1.842 Billion

Africa Remains Big Contributor of China's Oil Imports 30% Share

Beijing Receives More Foreign Visitors in First 9 Months 2.8 Million

Poverty Eradication Efforts Pay off in Past 20 Years 100 Million

Chinese Farmers Save Extra Money A calculation by the Agriculture Ministry shows that Chinese farmers will each have an extra 140 yuan (US$17.5) in their pockets in 2006 as a result of tax savings.

Hyundai, Ford Recall Cars in China The China joint ventures of Hyundai Motor and Ford Motor have recalled 151,397 locally made cars due to mechanical faults.

Ministry Sets Farmland Conservation Target China's Ministry of Land and Resources (MLR) will urge provincial governments across the country to conserve a total of 120 million hectares of arable land till 2020.