Chinese Economics Thread

[bladerunner]

Listening to the BBC's documentary on the creation of another city from the destruction of 'White Horse Village' one is provided with a lot of broken promises made to the villagers in return for the land.

eg promised a new school (never happened, the children are taken to other village schools where overcrowding has seen 150 pupils to a room several pupils sharing a desk) thus causing resentment.

2/ Outsiders such as the privileged newcomers are using the school. THey are also occupying the new promised homes.

3/ This is only one village/ how many other 'white horse villages ' around china are experincing this problem.

4/ The central authorities need to step in to prevent this from happening, before proceeding with other grandiose schemes, while leaving the local population with only broken promises.

 

[pla101prc]

Listening to the BBC's documentary on the creation of another city from the destruction of 'White Horse Village' one is provided with a lot of broken promises made to the villagers in return for the land.

eg promised a new school (never happened, the children are taken to other village schools where overcrowding has seen 150 pupils to a room several pupils sharing a desk) thus causing resentment.

2/ Outsiders such as the privileged newcomers are using the school. THey are also occupying the new promised homes.

3/ This is only one village/ how many other 'white horse villages ' around china are experincing this problem.

4/ The central authorities need to step in to prevent this from happening, before proceeding with other grandiose schemes, while leaving the local population with only broken promises.

lol that's not how politics works man. the central government cant just intervene in every village there are like a million villages in China.

this stuff should be left to the provincial and depending on how serious it is the central gov will step in to resolve the really bad ones. but they do it not for the sake of resolving problems but to convey their desire to the provincial and local government to pay more attention to this stuff. governing a country especially is way more complicated than some of us here thinks. i'd appreciated if all of us stop trying to simplify the problem and look at issues both from the ppl AND from the government's perspective. because when you look at things only from the government's perspective you tend to be oppressive, when you look at things only from the ppl's perspective you tend to be complainers and propose unrealistic actions.

 

[crobato]

China Airbus orders may be cancelled
Dec 11 2008 by David R. Jones, Daily Post

IMPORTANT orders from China for new Airbus jets could be cancelled or put on ice as the Far East aviation market is hit by turbulence in the global economy.

A cut in Chinese purchases could affect both Airbus, which builds the wings for its airliners at Broughton in Flintshire, and its American competitor Boeing.

Both firms have looked to China’s burgeoning travel and freight market to fuel demand for their planes, and Airbus has this year opened a new assembly plant near Beijing for its A320 Family aircraft.

But China’s aviation industry regulator has now told domestic airlines to cancel or postpone aircraft deliveries due in 2009 as passenger numbers fall.

The once booming Chinese airline sector is suffering from overcapacity amid a slump in travel that started in the second half of this year as the economy began to cool.

“Throughout the second half of the year, the global economic gloom is having an increasingly grave impact on the development of China's civil aviation industry,” said the Civil Aviation Administration of China.

Airlines around the world are grounding planes, cutting capacity and delaying or even cancelling orders for new aircraft as passenger numbers fall, air cargo volumes drop, and airlines are squeezed by high aviation fuel prices.

Airbus had hoped the rapid recent growth of the aviation market in countries like India and China would help offset a general slump in orders this year.

However, it is now clear that China's top three airlines, Air China, China Southern Airlines and China Eastern Airlines, have not been immune from the downturn.

Airbus said it had firmed up 140 out of 160 jets ordered by China last November.

Many of the planes wanted by China are from Airbus’ A320 Family, and the new £325m assembly plant at Tianjin will assemble that type of aircraft, although Broughton will retain its monopoly on wing manufacture.

Cancellation or deferment of A320 orders will not worry Airbus too much as the firm has a huge order backlog for the aircraft that will take years to work through.

It will be more worried about possible cancellations of its flagship superjumbo and other wide-bodied, long range aircraft.

Airlines typically pay up to 30% of the purchase price of a jet in advance, and could face estimated cancellation penalties of up to 10% of the deal price.

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[crobato]

Cutting out the bureaucracy.

China central bank: State treasury fund to go directly to final recipients

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2008-12-18 01:06:11 Print

BEIJING, Dec. 17 (Xinhua) -- The Chinese central bank said Wednesday the State treasury fund for projects to improve people's livelihood, infrastructure, ecological environment and post-disaster reconstruction, would go directly to final recipients.

Su Ning, vice governor of the People's Bank of China (PBOC), said the central bank would study new methods to let the State treasury play a better role in supporting the country's policies to sustain the economy.

He said the State treasury would continue increase direct financial aid to agriculture-related and disaster-relief projects.

The central bank, responsible for managing the treasury, would ensure the money be put in the right place in time and would simplify treasury procedures of customs tax rebates.

Usually, the State treasury fund would first go to units that submitted budgets. Most of them were governments at all levels.

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[crobato]

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Growth of China's Christmas-related exports skids in financial crisis

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2008-12-18 11:08:42 Print

Special Report: Global Financial Crisis

BEIJING, Dec. 18 (Xinhua) -- China's exports for the Christmas season have taken a hit amid the financial crisis, the General Administration of Customs said on Thursday.

From January to October, Christmas-related exports stood at 1.64 billion U.S. dollars, up just 8.3 percent year-on-year. The growth rate was 32 percentage points below the year-earlier level.

In the July-October period, when exports for Christmas usually peak, China exported 1.28 billion U.S. dollars worth of such goods, up 3.6 percent. The growth rate was down 38.9 percentage points.

Of the total, 46.1 percent, or 590 million U.S. dollars, went to the United States in the four-month period, down 2.8 percent. In 2007, the year-on-year change was up 39.3 percent.

The United States and the European Union are major markets for China's Christmas-related exports. The two markets accounted for 76.8 percent of China's total in the first 10 months of this year.

 

[crobato]

Not in Xinjiang though.

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NW China ethnic region records export surge

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2008-12-16 21:53:45 Print

URUMQI, Dec. 16 (Xinhua) -- Xinjiang Uygur Autonomous Region in northwest China has so far this year recorded a surge of 72.8 percent in its export despite the spreading global financial crisis, the regional foreign trade and economic cooperation bureau said on Thursday.

The volume of Xinjiang's export during the period reached 17.69billion U.S. dollars, while its import increased by 36.7 percent to 2.82 billion dollars, the department said.

With the remarkable export and import volume, the region replaced Sichuan Province to become the bellwether of foreign trade in China's vast western region.

Huang Pingzhao, a leading analyst of the bureau, attributed the export surge to the Mid Asian market, which accounts for more than80 percent Xinjiang's exports and is not so badly impacted in the global financial crisis as the European, American and Japanese markets.

Besides, most of Xinjiang's exports were consumer goods. "The market demand in Mid Asia for consumer goods was rigid," Huang added.

The analyst said more Chinese domestic companies were expected to expand their exports to Mid Asia via Xinjiang next year, bringing an even more promising future for the region.

 

[crobato]

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Global slowdown cuts November growth of China petrochemical sector

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2008-12-22 16:24:11 Print

Special Report: Global Financial Crisis

BEIJING, Dec. 22 (Xinhua) -- Hit by shrinking demand amid global financial and economic turmoil, the growth of China's petroleum and chemical industry slowed in November, the China Petroleum and Chemical Industry Association said on Monday.

Output value rose just 0.8 percent year-on-year to 484.25 billion yuan (70.82 billion U.S. dollars), the group said. That was 28.1 percentage points lower than the year-earlier level and down 17.7 points from the previous month.

The total included 260 billion yuan generated by the chemical sector, down 1.5 percent, and 68 billion yuan by the oil and gas extraction sector, down 1.2 percent.

The two sectors' growth rates were 30.5 percent and 34 percent, respectively, for the same month last year.

Last month, among 69 types of petrochemical products surveyed, 70 percent reported declining output.

Fertilizer production fell 16.3 percent year-on-year, or 12.8 percent month-on-month, to 4 million tonnes. Methanol output fell 9.6 percent year-on-year and 17 percent month-on-month to about 838,000 tonnes.

 

[crobato]

China's foreign debt soars more than 18%
Posted: 27 December 2008 1209 hrs


Photos 1 of 1

An aerial photo shows the centre of Beijing's central business district



BEIJING: China's foreign debt increased by more than 18 per cent in the first nine months of the year, with short-term debt rising especially fast, state media reported Saturday.

At the end of September, overseas borrowing stood at 442 billion dollars, a rise of 18.3 per cent from the end of last year, the Xinhua news agency said, quoting the State Administration of Foreign Exchange.

It did not offer an explanation for the rise.

Short-term debt -- defined as loans with maturities of less than one year -- had risen particularly fast, increasing by 27.2 per cent over the nine-month period to 280 billion dollars, according to Xinhua.

Medium to long-term debt was up by a more moderate 5.5 per cent to 162 billion dollars, according to Xinhua.

Despite the growth in overseas borrowing, the world's fourth-largest economy remains in a position to service its debt, as it also holds the world's largest foreign exchange reserves.

Fuelled by its large trade surplus, China's forex reserves reached 1.9 trillion dollars in late September, according to the latest figures available.

- AFP/yt

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[pla101prc]

last time i checked China's forex is on the decline

 

[crobato]

last time i checked China's forex is on the decline

It actually hit over $2 trillion last November.