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Limits on Foreign Investment(0)Liu Yajun, director-general of the Commerce Ministry?s Foreign Investment Department, told a conference in Shanghai that the revised catalogue would decrease the number of sectors that were restricted or off limits for foreign investors.Liu is the latest Chinese official to reassure overseas investors in recent weeks amid rising complaints by foreign politicians and executives that China is not opening its market as promised when it joined the World Trade Organisation in 2001.Beijing publishes a catalogue that details the sectors in which foreign investment is either encouraged, permitted, restricted or forbidden. It revises that list occasionally.
Source : Konaxis
Foreign Investors Equal Treatment(0)Foreign business groups complain that China’s efforts to promote “indigenous innovation” by favoring domestic companies violates the spirit of its World Trade Organization market-opening commitments.The vice president, Xi Jinping, said Beijing would alter the procurement rules that prompted an outcry from foreign companies by giving preference to Chinese-developed technology in multibillion-dollar annualgovernment purchases of computers and other goods. He repeated promises that foreign-owned companies in China would be eligible to apply to be treated as domestic suppliers.
Source : Konaxis
China’s Economic Growth Slows(0)A statistics bureau spokesman, Sheng Laiyun, said despite the decline, growth is “very high” and within the government’s target range. The official growth target for the year is 8 percent, which analysts say China easily should achieve.
Sheng said lower growth would help Beijing’s effort to boost domestic consumption and reduce reliance on resource-intensive investment and exports to drive growth.
June growth in factory output slowed to 13.7 percent, down from May’s 16.5 percent rise. Growth in retail sales and investment in factories and other fixed assets also eased.
June exports rose 35 percent over a year earlier but analysts expect Europe’s debt crisis to crimp trade. A survey earlier by a Chinese business group found manufacturing activity in June fell for a third month as foreign orders declined.
June inflation eased to 2.9 percent over a year earlier, falling back below the government target of 3 percent for the year after prices rose 3.1 percent in May.
Also Thursday, the government said foreign direct investment in China rose 39.6 percent in June over a year ago to $12.5 billion.
Thursday’s data also showed investment still is growing faster than retail spending despite efforts to promote domestic consumption. Retail sales rose 18.2 percent in the first half but spending on factories and other fixed assets jumped 25 percent.
Source : Konaxis
China May Foreign Investment Rises(0)Investment rose 27.5 percent to $8.13 billion, the Ministry of Commerce said in a statement Saturday. Foreign investment in the first five months of the year rose 14.3 percent to $38.9 billion, the ministry said.
China?s economy will expand by 9.5 percent this year, three times the pace of the U.S, the World Bank forecast this week.
Retail sales rose by more than 18 percent for the third straight month in May, government data showed this week. Passenger-car sales last month rose 26 percent from a year earlier to 1.04 million units, the China Association of Automobile Manufacturers said on June 8.
Foreign direct investment started to climb in August last year after falling for 10 straight months because of the global financial crisis. Asia?s ?bright growth prospects,? coupled with low interest rates in major economies, may attract capital to the region and increase overheating risks, the International Monetary Fund said June 9.
Investment may top $100 billion this year, Wang Zhile, director of the commerce ministry?s research center on transnational corporations, told the China Daily Saturday. That would exceed the previous record of $92.4 billion achieved in 2008.
Source : Konaxis
China’s first cultural media industry fund is in operation; 2 billion yuan collected(0)CMC’s principal initiator and investor parties have strong financial investment and background of the media industry, including the Shanghai Oriental Culture Industry Investment Co. held by Shanghai Oriental Media Group Limited (SMG, the original Shanghai Media Group), Guo Kai financial limited co., subsidiary of China National Development Bank, Shanghai Dazhong Public Utilities (Group) Co., Ltd. held by Shanghai Volkswagen Group, Shenzhen Tian Zheng Capital Equity Investments Limited, subsidiary of China Merchants China Fund Investment Co., Ltd., Wenhui Xinmin United Press Group, the broadband capital and other institutions.
It is known that the agency will focus on restructuring in the field of culture and media, industry consolidation and innovations, self-positioning to be strategic investors to promote the development of domestic cultural industries across; At the same time the Fund will be committed to the “Chinese culture going out” by using the means of capital to get involved in the international media market, building Chinese global media investment and operation platforms.
Specifically, the fund will focus on providing growth capital, corporate restructuring, management buyouts and other market-oriented financing.
Li Ruigang said earlier that the current assets value of Chinese media had been seriously underestimated, and only the capital market could find all of its internal value and market potentials.
China Allows Foreigners Investment Stock(0)The U.S. Treasury Department announced the proposal in a statement Tuesday at the end of the U.S.-China Strategic & Economic Dialogue in Beijing. Futures, or agreements to buy or sell the CSI 300 Index at a preset value, began trading on the China Financial Futures Exchange in Shanghai on April 16, while margin trading and short selling was introduced March 31.
The move will make more investment options available to foreign investors, who have limited access to the world?s third- biggest stock market by value.
China has set the total combined quota for QFII funds at $30 billion. The market capitalization is $2.7 trillion.
China restricts overseas investors to buying so-called B shares that trade in U.S. dollars in Shanghai and Hong Kong dollars in Shenzhen. Yuan-denominated or A-shares are limited to citizens and approved overseas investors under the so-called QFII program.
Source : Konaxis
Lan Gang recent Statement denied large-scale digging people from Jin Shan Co(0)But Lan Gang also confirmed absorbtion of some of the Xishan Ju former employees. There has recently been reporting that the Lan Gang created by former senior vice president of Jin Shan, Wang Feng, when in founding Zhuhai subsidiary in 2008, he digged 30 core employees in Jin Shan “Jian Xia” R& D department, which was closely located next his company, including the main artist of Jian Xia series- Yang Yingfeng.
In response to the news that Zhuhai subsidiary digging R&D team from Jin Shan Ju, Lan Gang online market department made a statement that: “Zhuhai Lan Gang never committed massive digging torwards Jin Shan. Peviously news that Lan Gand digged 30 people is not true.”
Meanwhile, the Lan Gang online person in charge told Sina that, Lan Gang has employees quitted from Jin Shan, but they were not digged by Lan Gang.
China number 1 property investment(0)Real estate investment in China more than doubled to $156.2 billion last year, while the total for the U.S. slumped 64 percent to $38.3 billion, the New York-based broker said in a report Wednesday. Excluding residential investments, the U.S. came third after China and the U.K.
?China will continue to see vibrant investment activity, despite recent government measures to cool down the property markets,? Donald Han, Cushman & Wakefield?s managing director for Asia-Pacific capital markets, said in the report.
Eight of the world?s 20 largest property markets last year were located in the Asia Pacific region, with Hong Kong, Taiwan and New Zealand registering gains in investment, according to the report. Cushman & Wakefield is the world?s largest closely held commercial real estate adviser.
Source : Konaxis
Taiwan to allow mainland chinese investment(0)Starting Monday, Chinese institutional investors can buy shares in Taiwan’s stock market, with purchases by any single investor limited to $80 million, the Financial Supervisory Commission said.
The current investment cap would amount to less than 5 percent of the total capitalization of the mainland Chinese institutional investors approved by mainland authorities, short of the 10 percent analysts had expected.
In an effort to stabilize local financial markets, Taiwanese authorities have in recent weeks tried to halt an influx of foreign capital that has driven up local shares prices and currency.
The combined Chinese ownership will be limited to 10 percent in financial, natural gas and other government-controlled firms, and 8 percent in shipping firms, the commission said.
Buying shares in local airlines, telecom, real estate and broadcasting firms will be barred, the regulator said in a statement posted on its Web site.
The announcement came as a memorandum of understanding signed between the sides took effect, allowing the establishment of banking, securities and insurance firms in each other’s territory.
Also on Saturday, the Bank of China, the country’s largest foreign exchange lender, said in Beijing it will submit an application to open its first branch in Taiwan, with an initial management team of 20 to 30 staff, according to a statement on the bank’s Web site.
Source : Konaxis
SOEs stock, property investment(0)The centrally-administered SOEs should be vigilant of investment risks and maintain stable operation while resist the temptation of short-term profits, said Huang Shuhe, deputy director of the State-owned Assets Supervision and Administration Commission on Thursday.
“Enterprises should be particularly prudent of investing in the risky stock, futures and property markets,” he told more than 100 SOE bosses at a meeting.
Those who had started investment should strictly follow the rules and procedures, he said.
He told the enterprises to beef up risk control and keep close watch on the budget. They should also curb debts to minimize the risks, he said.
The SOE watchdog has repeatedly issued such warnings since early 2009 as a number of SOEs including China Eastern Airlines and Air China reported rising book losses from hedging contracts.
Source : Konaxis
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