Archive for the ‘China Macro-Economy’ Category

China will lose 4 million jobs in this year

A famous economist said,china will lost 4 million  jobs in 2009,I think he said out a big problem which we must face.Severl months ago,many official said there have no crisis, no migrant workers come back home,no many company cloesed,we must keep confidence.I am glad this economist say out this problem,because he is a famous economist and a official–Chen Si Wei.

OK,we must know crisis have different stage when it extend in the world.More than 60% Chinese GDP is based on export,and TV set reported a commpany which genarete apple juice hard to support itself because 95% og apple juice is export to USA and EUROPA.So,we know when USA and Europa have problem,china is hard to avoid the crisis.

What we really need to do is face this crisis,not just said everthing is OK,and we can easy to solved any problem,in last 10 years it is,but after 2008,it is not so easy.To solved the crisis,we need a hard work,we need do some really thing,we need control Invalid investment,because we just have so littile money,if we lost the change to save ourself,who will give us money to save our people? Our amount of GDP is only 6% of the World,we are little,we are not huge,not cheat ourself,just face the world and protect ourself,We must refused naive,what we can believe just ourself,if we can solved economy crisis of ourself,we can buy many resource from Russia,Peru or other country,we can buy equipment from USA,Eourpa and Japan,we can rise our position.But before that ,we must recognize,we have a crisis,we must face it,and do easier to solved,if we can action easier,maybe we will have not a big crisis.

553 kinds of machinery and electronic products export tax rebate rate

Ministry of Finance and the State Administration of Taxation announced on December 29, that since January 1, 2009, part of the technological content and added value of machinery and electronic products will raised export tax rebate rate. This is the fourth time this year that China’s export tax rebate rate raised to alleviate the difficulties in exporting enterprises, and maintain steady growth in foreign trade.
The export tax rebate rate adjustment mainly involves 553 kinds of products, including Air inertial navigation systems, industrial robots and other products of export tax rebate rate will be raised from 13%, 14% to 17%; motorcycles, sewing machines and other products of export tax rebate rate will be raised from 11 %, 13% to 14%.

The refined oil import consumption tax hike since January,2008

Finance Ministry recently issued a circular, the imported refined oil consumption tax is adjusted since January 1, 2009.
The notification required,  tax units of the leaded petrol import consumption tax is raised the to 1.4 yuan per liter, the current rate is 0.28 yuan. the consumption tax units of unleaded petrol import tax is raised to 1.0 yuan per liter; diesel and fuel oil were also raised to 0.8 yuan per liter. At the same time the grease, lube base oil import consumption tax will be levied , flat tax is 1.0 yuan / liter; aviation kerosene import consumption unit tax is increasing to 0.8 yuan per liter, but postponement of the charges.

cigarette consumption tax should be raised to 1 yuan

China will implement the newly revised Regulations on the consumption tax since January 1 next year , each packet of cigarettes will be imposed on the consumption tax 6 cents, in view of such a collection of standards, the Chinese Smoking Control Association said cigarette consumption tax should also have a substantial increase.

Economy Of MACAO Continue Expand,But Begin To Face Global Financial Crisis

MACAO said their GDP expanded 11.3 percent in Q3,it is a good number for many area,but this number is lower than last years.The main industry –local game,growth with 28% in Q3,but this number is 48% in Q2 and 62% in Q1.And,visitor custom only growth with 4%,It seems MACAO ‘s gaming industry can not avoid from global financial crisis.
MaCAO’s investment reduce 25%,it is the four quarters local that investment keep declined,escpecially government investment.MACAO’s local custom increased 5.1%,lower than last quarters too.
So ,MACAO need begin to think about how to avoid global financial crisis,how to keep economy increast?It seems the goal can not realize only by local gaming industry.

The most dark month in history at asia

The last month is the most dark month in history about stock market in asis.
China ShangHai Index drop 24% and Korea Index dive over 23%.And it happend after many many month of drop.
As we all know,global financel crisis make economy slidedown too,and will let foreign trade slidown too.I am glad found china goverment face it and do something for it now.China had said investe a huge money to build road,it is a good news,china said the goal of next year is keep increse and change the method of economy deverlop,it is another good news.
Face crisis,we can not avoide it or just said it is not a heavy hit,no,that is no useful for help our people and company,the only way is face it and recognize it is a big problem,and change our way to protect our people,let our people can own house,can get job,it is more importdant then the number of some officail’s report.

China’s banking sector seems not been beat by sub-loan crisis

Today,The biggest bank ICBC(Industrial and Commercial Bank of China) reporeted his nine-month profit get 46% rise(13.54 billion U.S. dollars),It means ICBC earnings increase about 0.04$ per share.It seems china’s bank sector not been beat from global financial crisis,and I know agriculture Bank of China are still prepareing for list,So chinese bank not like korea and iceland,because sub-loan crisis face huge risk.

For avoid bank system occur crisis(although we can not find this risk now),china goverment had announce support real estate sector,but I think the price of real estate is to high for a normal family in China,there have data shown most of them spending 75% income to revert the loan of real estate.I think there must have more ways to support china worker and chinese economy.

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.

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.

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.