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Source:QingyangNewsNetwork    Updated:2020-01-19 06:46:54

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  1st trading day of 2007 sees soaring stocks

  文章来源: 文章作者: 发布时间:2007-01-06 01:10 字体: [大 中 小]  进入论坛

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  Chinanews, Beijing, Jan. 4 – China's stock market continued soaring on Jan. 4, the first trading day of 2007.

  The Shanghai Composite Index 2,700 points this morning and then hit 2,800 points at 10.53am.

  "I can't believe that almost all shares are soaring, especially shares in the !" said a citizen excitedly.

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  上一篇:New postal savings bank gets approval 下一篇:Foreign trade volume reaches US0 bln in Guangdong

  China's trade surplus to hit 0B in 2007 - report

  文章来源: 文章作者: 发布时间:2007-01-06 01:12 字体: [大 中 小]  进入论坛

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  Jan.5 - China's trade surplus may surge to a record new high of around US0 billion this year despite government efforts to exports and encourage imports, the Chinese Academy of Sciences predicted in its latest report.

  If these came true, China would overtake Saudi Arabia and Russia to have the world's second largest trade surplus after Germany, said the report.

  The government think tank said last year's trade surplus would grow 66.4 percent from a year earlier to US9.4 billion, about US.9 billion higher than the of Commerce's official of US7.5 billion.

  It also predicted that the year's imports and exports would reach US.137 trillion, up 21.6 percent or US7 billion from the figure forecast by the Ministry of Commerce in December.

  The forecasts show the size of the challenge facing China in with its rocketing trade surplus. The government hopes to keep the country's annual foreign trade growth at 10 percent in the next five years and to balance imports and exports by 2010.

  But market demand and the global transfer of industry which has turned China into the world's factory are powerful engines boosting the country's exports.

  "This year, the trade surplus with the United States and the European Union will grow even faster to hit US8.2 billion and US3.1 billion respectively," said the report.

  "With its surplus expanding exponentially, China will face more trade disputes this year. The focus of will shift from clothing, textiles and shoes to electro-machinery products, steel and chemical products," it said.

  Textile and clothing exports might slow slightly as a result of trade protection and barriers, it .

  Exports of higher value-added electro-machinery products would post a surplus of 118.1 billion U.S. dollars in 2006, up 54.2 percent from 2005, and US5.2 billion this year, up 56.9 percent year-on-year.

  product exports would register a surplus of US billion in 2006, up 67.2 percent on a year earlier, and US billion this year, up 131.2 percent from 2006, said the report.

  The government has a battery of policy and tax to facilitate exports of electro-machinery and high-tech products to trade caused by cheap lower value-added exports.

  The report argued, however, that the positive effects of such measures would not show up immediately because the real cure was to ensure domestic companies acquire key production technologies.

  About 90 percent of China's exports of information technology products are made by foreign-invested companies, blowing out China's export figures but bringing little value in terms of advanced technology, it said.

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  上一篇:Foreign trade volume reaches US0 bln in Guangdong 下一篇:Golden piggy-banks run out of sale in Year of Pig

  Golden piggy-banks run out of sale in Year of Pig

  文章来源: 文章作者: 发布时间:2007-01-06 01:12 字体: [大 中 小]  进入论坛

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  Chinanews, Hangzhou, Jan. 5 – In many Asian countries, 2007 is considered not only as the Year of the Pig, but a year of golden pig which falls once in every 60 years according to folk legends. In China, shops, supermarkets and department stores follow a tradition that at the end of the year, they usually place a small, pretty piggy-bank inside the shop to help promote sales. In November last year, as many Chinese businesspeople rushed to buy these golden piggy-banks in Yiwu, the world’s largest market for goods, they suddenly found that these piggy-banks were already out of sale. They had been bought up by Korean and Japanese businesspeople several months before the Chinese New Year arrives.

  In China, the piggy-bank is usually made of and painted in a golden color. Mr. Zhong, a man who sells porcelain products in the Yiwu International Trade Center, said that he had sold porcelain products for more than ten years and usually, the business season would begin in November.

  However, for this year, many Korean businesspeople moved one step ahead of their Chinese when the golden pig year is just around the corner. Starting from last August, businesspeople from Korea and Japan came to Yiwu to place orders for products with the golden pig year and many of them bought a large number of golden porcelain piggy-banks. Each order contained the production of at least 6,000 products. At that time, many Chinese businesspeople had not placed their orders yet, said Zhong.

  When Chinese businesspeople started to place their orders for piggy-banks at the end of 2006, about 70-80% of these products had already been sold out in Yiwu market. A piggy-bank said that the hot sale was in ten years.

  In Mr. Zhong's store, the reporter happened to meet a salesman, Mr. Li, who came to Yiwu from Nanjing Jinqiao Market. He told the reporter that he started to come to Yiwu way back in last November ordering for piggy-banks. The sales were extremely good. This was the third time for him to come to Yiwu to place extra orders. In his previous two deals, he bought 1,000 golden porcelain piggy-banks each time. This time, he took his friends with him and they wanted to buy more. However, they didn’t see any sample product in the store, since Mr. Zhong had sold his sample two days ago.

  Mr. Zhong explained that generally even in the most difficult situation, he wouldn’t sell his sample product. If he sold it, it meant that he wouldn’t accept any new orders. For him, he had already received too many orders from his previous customers asking him to produce more products for them. So, even if he accepted any new orders, he might not be able to produce enough products as customers required.

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  上一篇:China's trade surplus to hit 0B in 2007 - report 下一篇:Guangzhou's annual GDP per capita broke ,000

  Guangzhou's annual GDP per capita broke ,000

  文章来源: 文章作者: 发布时间:2007-01-06 01:13 字体: [大 中 小]  进入论坛

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  Chinanews, Guangzhou, January 5 – Guangzhou's annual GDP per capita broke ,000 in 2006, making it the first city to top this mark in the Chinese mainland.

  “Now we are at the threshold of modernization,” said Peng Pai proudly, who is the director of the Research Section of Guangzhou Municipal Academy of Social Sciences.

  Guangzhou's economy leapt by 14.4% in 2006, making a total output value of some 62.36 billion yuan.

  According to the World Bank, the annual GDP per capita of ,000 is the boundary between “developed” and “developing”, thus Guangzhou might become the first “developed” cities in China.

  上一篇:Golden piggy-banks run out of sale in Year of Pig 下一篇:Beijing-Shanghai high-speed railway construction delayed

  Beijing-Shanghai high-speed railway construction delayed

  文章来源: 文章作者: 发布时间:2007-01-06 01:13 字体: [大 中 小]  进入论坛

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  Chinanews, Beijing, Jan. 5 – Construction of the Beijing-Shanghai high-speed railway, which was due to begin in 2006 and finish by 2010, has been , the China Business Times reported.

  In a video conference held on December 31, 2006, Chinese Railway Minister Liu Zhijun touched upon the major tasks to be within the whole railway transport system in 2007. In his speech, However, Liu did not mention anything about the construction work of the Beijing-Shanghai high-speed railway, nor did he say anything about the State Council's approval of the project.

  According to related procedures set for large national construction projects, construction of the Beijing-Shanghai high-speed railway should get the approval of the State Council before construction can begin. However, by December 31, 2006, the State Council had not approved the project yet.

  On March 7, 2006, the State Council approved the construction scheme for the high-speed railway, which means that the project had been by and registered with the government. After this, the project should have entered into the stage of a feasibility study. In fact, preparation work for the railway construction already took place ten years ago. A rough designing plan for the railway construction had been ready and in some places, bridges were already built in preparation for the construction. Based on this, it could be said that the feasibility study work could be finished in a very a short time. Earlier, people at the of Railway (MOR) had said that they “plan to start the construction in 2006.” Their statement was widely quoted by many media, in whose reports it was said that the construction “will take place in 2006.”

  The reporter was informed that the feasibility report had already been submitted to the State Council for approval.

  Why, then, didn’t the government give its approval to the plan as expected? Officials from MOR did not give the reason for the delay. However, insiders told the reporter that the estimated costs for the railway construction had been raised from the earlier 130 billion yuan to the present 170–200 billion yuan.

  And the new estimated costs (170 billion yuan) do not include the costs of the construction for the Nanjing Dashengguan Yangtze River Bridge and two other projects, which are already being built. If construction costs for these three independent projects are added, the total costs might be up to 200 billion yuan.

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  上一篇:Guangzhou's annual GDP per capita broke ,000 下一篇:Chinese vegetables face slack season

  Chinese vegetables face slack season

  文章来源: 文章作者: 发布时间:2007-01-06 01:14 字体: [大 中 小]  进入论坛

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  Chinanews, Beijing, January, 5 – New Year's Day and the Spring Festival (Lunar New Year) are usually peak season for vegetables and fruits in China. But 2007 is different.

  Our reporter finds in Guangdong that though the prices of vegetables are dropping everyday, still they are sold . There are piles of green peppers left to rot in the .

  “The price of peppers was 3.4 yuan per kg in 2005,but it is only 0.4 yuan now, and still we have to dump these peppers into gutters,”said a farmer.

  The in Shandong Province is also facing the slack season, its average price being only 1/3 of the figure in 2005.

  In fact, similar cases can be found nearly all over China, making it hard for the farmers to make ends meet.

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  上一篇:Beijing-Shanghai high-speed railway construction delayed 下一篇:China to import 355 million tons of iron ores

  China to import 355 million tons of iron ores

  文章来源: 文章作者: 发布时间:2007-01-06 01:15 字体: [大 中 小]  进入论坛

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  Chinanews. Beijing, January 5 – According to China Iron & Steel Association, about 355 million tons of iron ores will be imported in 2007.

  China is the biggest iron ore consumer in the world, its iron ores production being unable to meet the needs of the domestic steel industry.

  Baoshan Iron and Steel Corporation (Baosteel), the biggest steel enterprise in China, has finished price with three major iron ore suppliers in Brazil and Australia, and the price of imported iron ores will grow by 9.5%.

  The three major iron ore supplies take up nearly 70% of the global market, thus the successful price between Baosteel and them reflects the stronger and higher position of Chinese steel enterprises in the world.

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  上一篇:Chinese vegetables face slack season 下一篇:China raises banks reserves to prevent rebound in lending

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