AmCham News Wire http://presearch.sinofile.net zh-cn http://www.sinofile.net/clients/amcweb.nsf/amcA/565837E6126CCD8048257999001173D6 2012.02.03 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%. [source: China National Radio Network,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/68A6E81732958578482579990011F705 2012.02.03 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. [source: Net Ease,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/A33101770B5E3892482579990011C888 2012.02.03 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. [source: Net Ease,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/B6DF78766B842A62482579990011BA58 2012.02.03 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. [source: Net Ease,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/7BBF1949F65111CA48257999000E0877 2012.02.03 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. [source: Hexun,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/A1E425F2982D42A048257999001FD7B3 2012.02.03 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. [source: People.com.cn,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/F559B671F375C05448257999001FE943 2012.02.03 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. [source: Sina,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/9BE1A840DE05BB784825799900200773 2012.02.03 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. [source: Net Ease,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/C615C3E1579D2BC548257999001181EE 2012.02.03 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. [source: Net Ease,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/EF399B7E55506D5D4825799900254A4E 2012.02.03 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. [source: Net Ease,2012.02.03] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/266F05C3BEAE5C84482579980011F976 2012.02.02 Feb. 1, the Ministry of Education claimed that a teacher pay reform plan for 2011 that is being widely discussed on the Internet is untrue. The plan claims that the Ministry of Education will cancel title salary of teachers and set an income structure for teachers. [source: Sina,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/8FF9F7836E11CF924825799800124B4F 2012.02.02 Feb. 1, the PMI in Jan. 2012 was 50.5%, a 0.2% increase from Dec. 2011. Guotai Jun'an Securities Co. predicts the PMI in Feb. will rise further. Liu Ligang, head of economic research at ANZ China, said the PMI rise shows that China's economy is realizing a "soft landing." [source: China Economic Net,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/C82E48CF1D4E64B2482579980011E19D 2012.02.02 The WTO ruled that China's raw material exports violate rules, which has aroused discussion in the market about China's rare earth exports. Some experts think China can learn from related policies of Europe and the US to solve its rare earth export disputes. Rulings against China's raw material exports may be favorable for reforming exploration, smelting and production of domestic resource products. [source: Xinhuanet,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/40FD59076311414B4825799800126B1D 2012.02.02 The Department of Public Offering Supervision under the China Securities Regulatory Commission (CSRC) published information about enterprises which have applied for IPOs. Data shows that 14 banks are queuing for IPOs. [source: Gmw.cn,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/5356350A8FBD9BDF4825799800050EA0 2012.02.02 The Ministry of Finance recently issued a notice which said that, in order to promote the healthy development of the logistics industry and implement the spirit of the "nine national clauses" for the logistics industry, the tax on urban land for construction of commodity storage facilities by logistics enterprises will be cut in half. [source: Ifeng.com,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/5F20D12ABF1A70AB482579980012358E 2012.02.02 Many industry analysts think supervisory authorities may soon take restrictive measures and ask paying agents and entrusted banks to submit capital and provisions. At present, many banks do not prepare provisions for interbank payment business. If so, all commercial banks will face bigger capital pressure. [source: People.com.cn,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/7DD56AD5A667D4A3482579980012D8D1 2012.02.02 A person close to a state-owned bank said on Feb. 1 that the banking industry issued up to RMB100b in loans on the last day of Jan. In his opinion, newly increased loans are likely to exceed RMB900b in Jan. However, the news has not been confirmed by related departments. [source: Net Ease,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/8ED4D1FCB8A16DE648257998001210B8 2012.02.02 Feb. 1, Premier Wen Jiabao presided over the Executive Meeting of the State Council. The meeting said that the State Council will implement four measures to support the development of small and micro enterprises. They include improving financial and tax policy support, alleviating financing difficulties, accelerating technical reforms and strengthening services and management. [source: Eastday,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/C77CE73934798D5E482579980012A1D8 2012.02.02 Feb. 1, Chinese Premier Wen Jiabao presided over an executive meeting of the State Council to study further arrangements to support the healthy development of small and micro enterprises. The meeting proposed to support qualified commercial banks to issue financial bonds to grant loans to small and micro enterprises and support IPOs by small and micro enterprises in order to alleviate their financing difficulties. [source: Net Ease,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/B42519EAE6784DD048257998001226C7 2012.02.02 The Ministry of Finance recently published a notice about tax policies for the reorganization and restructuring of enterprises and institutions. The notice also includes tax policies for enterprise sales, enterprise bankruptcy, transferring creditor's rights into stockholder's rights and ownership reform at institutions. [source: People.com.cn,2012.02.02] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/8F99E31FC7198E84482579970011CC03 2012.02.01 The China Insurance Regulatory Commission (CIRC) recently published supervisory work emphases for insurance intermediaries in 2012. An official from the CIRC answered questions about this document yesterday. The official said that the CIRC would continue to keep a close eye on the market and actively support model innovation, as well as summarize, promote and continue to push forward the reform process in a timely manner. [source: Sohu,2012.02.01] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/B3650F364334359D482579970011E16B 2012.02.01 Jan. 31, an authoritative person revealed that renminbi loans at the four major banks, ICBC, ABC, BOC and CCB, increased by RMB300b as of Jan. 28 this year. According to calculations, renminbi loans in the banking industry will reach RMB750b-RMB800b during the first 28 days of Jan. this year. [source: Net Ease,2012.02.01] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/B7F0A9551CD79FDE4825799700115901 2012.02.01 The US Department of Commerce has again delayed its decision on imposing additional tariffs on imports of Chinese photovoltaic panels or cells. The preliminary determination will be announced on March 2. It was originally scheduled to be announced on Feb. 13. [source: International Energy,2012.02.01] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/DF1292B0209B05A2482579970012179E 2012.02.01 Minister of Finance Xie Xuren said in his article that the ministry will implement a positive financial policy to better serve economic and social development. China's economy will maintain stable and rapid development and price levels will stabilize. [source: Net Ease,2012.02.01] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/3B7852A62A004AAC4825799700117612 2012.02.01 Jan. 30, the Department of Finance under the Ministry of Finance published the no. 2 document for 2012 about agricultural insurance subsidies. Since 2012, based on current policies, the Ministry of Finance will further increase efforts to support agricultural insurance, increase the number of products given premium subsidies, expand the areas given premium subsidies and support the improvement of the guarantee level. In general, current regional premium subsidies will be expanded nationwide. [source: Net Ease,2012.02.01] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/4B3E10622F6D3506482579970011FB15 2012.02.01 After funds outstanding for foreign exchange and foreign exchange reserves saw negative growth in the fourth quarter of last year, the central bank announced yesterday that the balance sheet of the monetary authority also fell. Data shows that, as of the end of Dec. 2011, the monthly balance sheet of the monetary authority had fallen by RMB31.06b month by month. This was the third month the balance sheet of the monetary authority saw negative growth. Some analysts pointed out that, as the sovereign debt crises in Europe and the US continue to deteriorate and three kinds of foreign exchange data show negative growth, the short-term international capital outflow has becomes obvious. [source: Net Ease,2012.02.01] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/761BAFB3A34E0F46482579970011BEC6 2012.02.01 China's fiscal revenue hit a new high in 2011. From the perspective of last year's economic movement, economic growth slowed gradually. In particular, after the monthly personal income tax threshold was increased in the fourth quarter of 2011, related taxes fell. The growth of fiscal revenue last year showed a trend of rising first and then falling. [source: China Economic Net,2012.02.01] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/7F8DB46792C2C23048257997000A792D 2012.02.01 Feb. 1, according to statistics issued by the China Federation of Logistics and Purchasing (CFLP) and the Service Industry Investigation Center of National Bureau of Statistics, the PMI in Jan. 2012 was 50.5%, a 0.2% increase from Dec. 2011. An expert said this signals that the economic adjustment process is going to be steady. [source: Chinanews.com,2012.02.01] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/AFFA493A39775FD9482579970011AD69 2012.02.01 Jan. 30, an IMF official said the economy in Asia has developed strongly. Various indicators show that China's economy will not experience a hard landing. The overall policy environment around the globe will be further eased this year. [source: Chinanews.com,2012.02.01] BizClimate http://www.sinofile.net/clients/amcweb.nsf/amcA/F09E2171CE2873CE4825799700116EAE 2012.02.01 The Ministry of Culture published the "Management Methods for Comprehensive Administrative Enforcement in Cultural Market." The document will take effect on Feb. 1 this year. [source: Hexun,2012.02.01] BizClimate