Archive for October, 2008

China raises grain purchasing prices in order to boost production

China’s top economic planning agency on Monday said it would raise the minimum purchasing price for wheat by as much as 15.3 percent starting next year.
The move by the National Development and Reform Commission (NDRC) aims to boost rural income and grain output.
This is a good news for the China’s peasants,which will give the peasants more confidence for the grain planting.

More people lost job in S China amid global financial crisis

Hong Kong-listed BEP International Holdings Limited announced it would shut its factory in Shenzhen, Guangdong Province on Monday because its exports had dropped drastically this year registering huge deficits, a company spokesman said on Saturday.
About 1,500 workers in south China lost their jobs.these workers will have to find new jobs after their factory closes next week.
Now more China’s ordinary people concern the current global financial crisis,they are afraid to become the next victim to the current global financial crisis.

the global financial crisis inflence the the confidence of Chinese consumers

While the global financial crisis is not affecting China’s finance, it also inflence the confidence of Chinese consumers.
Such lingering doubts have prompted many Chinese consumers to exercise much greater caution in spending on non-essential goods as they prefer to put money aside for possible financial crisis ahead.
People change their past comsumption custom,for example,they would abandon some housing and luxury sales to have financial ability to  face the worst possibly situation.

China strengthen land conservation

China’s top land regulator urged local authorities to safeguard 1.8 billion mu (120 million hectares) of the country’s farm land fearing a grain shortage. Thursday, local authorities responded to the request.
Xu Shaoshi, head of the Ministry of Land and Resources, called on provincial leaders to abide by the land use general outline in a letter dated Aug. 29.
Food is the destiny of the people. Chinese arable land should be protect better to ensure the normal supply of food and grain prices under the condition of the global grain crisis. At present,the ordinary people can feel the stable grain prices and sufficient grain supply when going market shopping.

MOC remark on the restrictive measures about Chinese dairy products

The spokesman of China’s Ministry of Commerce remarks on the restrictive measures about Chinese dairy products on Friday.The spokesman said that Chinese food safety watchdogs had strengthened supervision of exported dairy products,the measures is very effective and all the exported dairy products passed melamine test.He said,China ask the fair treatment of Chinese diary products and keep the normal trade activities.
Milk contamination events lead to Chese milk faith crisis in home market and abroad, although the milk pass the melamine test, but the consumer’s heart hurt is difficult to heal in a short period of time.

China’s business climate index slide in the third quarter

The National Bureau of Statistics said that China’s business climate index slid in the third quarter.
The index fell to 128.6 points in the third quarter,down 16.1 points from the same period last year. The 100-point mark is seen as a definition between depression and prosperity.
The NBS said all sectors reported notable declines in business climate index Compared to the same period last year.
We often know that from the newspapers some medium- and small-sized enterprises face bankruptcy as a result of corporate performance decline.The enterprise have to lay off the employee in order to lessen the burden,Many people lost their jobs.When the economic downturn can be changed?it is everyone’s concern.

China edible oil imports slow in first 8 months

The General Administration of Customs said on Tuesday that China imported sum edible oil between January and August this year is 18.9 percentage points which is lower than the 23.6 percent increase in the same period last year.
The customs said the main cause of the slowing imports is shrinking soybean supply from Argentina which is China’s biggest soybean supplier.
In order to reduce the cost of soybean imports and curb price rises for grain on the domestic market, China reduced import duty on soybeans to one percent on Oct. 1, 2007.
GAC said that China relied foreign exports of edible oil, so was easy to have the risks of international price volatility, which influence the national grain security.

When many housewives  buy cooking oil in the supermarket, they might be surprised to find that the price of edible oil rose by more than  20 percent compared to the prices several months ago , Some families maybe decided to reduce daily oil consumption,for example,they would cook less oil every day .The edible oil price indeed influence the lives of ordinary people  in China.

Chinese steel mills face cut production

Several leading Chinese steel mills are planning to cut production to deal with the pressure of weak demand.
Monday’s China Securities Journal reported that Shougang Group and three other big domestic iron and steel manufacturers will slash 20 percent of their production this month under the pressure of slack domestic demand and dropping steel prices.
Hu Kai, a senior industry analyst said that the main cause of production reduction is the sagging price.
China’s real estate in its nadir is also another cause.
Chinese steel mills begin to feel the economic cold snap.

Wen make a remarks about china finance

PREMIER Wen Jiabao made a remarks about china finance in hard times during an inspection tour to Guangxi zhuang Autonomous Region in southwest China.
He said China’s financial institutions have increased their strength, profitability and risk-resisting ability,and the financial system as a whole was sound and safe in face of the international financial crisis.
The United States’ subprime crisis had been deteriorating and was having an increasingly serious negative impact on financial markets and the global economy as a whole.
Wen said that China had reacted actively and properly, made efforts to improve the predictability and flexibility of macro-economic control policies, and had solved problems in economic development.

Chinese new liquid milk supplies melamine free

The General Administration of Quality Supervision said that they detected the samples of 609 batches of liquid milk from 27 cities in china and have not found melamine.
But in the previous inspection on Septempber 30, officials tested 265 batches of adult milk powder produced before Sept. 14 , and found 31 batches from 20 companies were tainted with melamine.Some people have to give up milk every day because of milk safety concern.