This is a discussion on Chinese Economics Thread within the Members' Club Room forums, part of the China Defense & Military category; if i got a dollar everytime a westerner predicted the chinese banking system is on the verge of collapse, i ...
if i got a dollar everytime a westerner predicted the chinese banking system is on the verge of collapse, i would be the richest man on earth.
china's banking system was far worse in the 1980s and it is with this banking system that got china to be one of the most powerful economies on this planet.
western doomers on china are getting desperate, they see china rising while europe is is recession, and america not much better than europe.
Rare earths industry targets illegal players, by Mandy Zuo, The South China Morning Post, 29 April, 2012:
Big problem. More at the link.The China Rare Earths Industry Association will assist in communicating with foreign companies in the event of trade disputes and help monitor the industry, which has seen rampant illegal mining and serious environmental damage, says its deputy secretary-general, Chen Zhanheng.
"The amount of illegally mined rare earths in the southern regions has been about twice the volume of mining officially permitted by the government in recent years," he said.
Analysts: China's New Loans May Top RMB900Bln in April, Caijing Magazine, 28 April, 2012:
China Targets Export, Import Growth at 10Pct for 2011-2015, Caijing Magazine, 27 April, 2012:China's new loans in April are expected to reach 800-900bln yuan, showing a sign of speeding up, the country's Securities Daily quoted analysts as saying.
April has seen an acceleration in mortgage as China's banks introduced favorable interest rates, the article said.
Given current conditions, this is could be a tough go. Pressures within China's domestic economy must really be building up.China has targeted the average annual growth of exports and imports at 10 percent for the 2011-2015 period, lower than that the country has seen in recent years, according to a government planning.
By 2015, the volume of foreign trade is expected to hit some 4.8 trillion U.S. dollars, compared with 2.97 trillion in 2010, the Ministry of Commerce said in its first five-year planning for exports.
Exports will grow 15.7 percent during the period, or the so-called 11th Five-Year, while imports are expected to rise 1.1 percent, the Shanghai Securities News reported, quoting an official with the export division of the commerce ministry.
Structural shift gaining momentum: AmCham, by Lan Lan, China Securities Journal, 26 April, 2012:
Economy still being buffeted, ministry warns, by Tuo Yannan and Wang Xiaotian, China Securities Journal, 26 April, 2012:China's course over the next decade as it seeks a structural shift has become a big concern for the foreign business community. They may think there are some ambiguities and uncertainties, but in fact China has given clear information, Song said.
The government is on track to make progress toward a market economy by actively promoting the liberalization of interest rates and further improving the exchange rate mechanism, as well as deepening the reform of State-owned enterprises, he said.
"China has no doubts about sticking to opening-up and gradually advancing its reforms in a cautiously optimistic way. A 'shock type' reform, expected by some people, is impossible in China," Song said.
and:The economy still faces downward pressure and domestic and external situations are "grim" as industrial output posted its slowest growth in nearly three years, the Ministry of Industry and Information Technology warned on Wednesday.
Difficulties faced by companies and the consequences of sustained "sluggish" external demand should not be underestimated, Zhu Hongren, the ministry’s chief engineer, said.
Industrial output grew by 11.6 percent year-on-year in the first quarter of 2012, the slowest growth since July 2009, according to figures released by the National Bureau of Statistics.
The figure hit 20 percent a year ago.
China’s economy expanded 8.1 percent in the first three months from a year earlier, the smallest expansion in almost three years and the fifth straight quarterly deceleration.
Chinese stocks decline after corporate earnings fall, Xinhua via China Securities Journal, 27 April, 2012.
Sustaining overseas markets, by Mei Xinyu, China Securities Journal, 27 April, 2012:
China vows to double trade in Europe, by Hu Yinan, Fu Jing, and Zhou Wa, China Securities Journal, 27 April, 2012:Despite boosting domestic demand, China should not ignore high-end exports and investment opportunities.
As many of the policies and measures China adopted to counter the effects of the global financial crisis and boost domestic demand have lost their efficacy and its fixed asset investment has been on an accelerated decline, some domestic enterprises, especially those that have experienced a larger-scale capacity expansion in recent years, are facing growing pressures. This is especially true of the manufacturing sector, and for electrical appliance and railway equipment manufacturers in particular.
With the condition of the global economy being what it is at present and for the foreseeable future, export-till-you-drop and beggar-thy-neighbour appear to be the only economic policies in town.China vowed on Thursday to double its trade with Central and Eastern European countries to $100 billion by 2015, as Premier Wen Jiabao reassured leaders in the region that Beijing would deepen relations with these countries "with the greatest sincerity".
Can you see interest rates rising to 15%,20%,25% and more in the next couple of years?
Chinese Locomotive Manufacturers growing robustly.
Chinese train-maker secures Malaysia light-rail order
27 April 2012
By William Dennis and Lorna Sharpe
Chinese train-maker secures Malaysia light-rail order - E & T Magazine
China’s CSR Zhuzhou Electric Locomotive Co has seen off international competition to win a $174 million train contract in Malaysia.
Prasana Negara Berhad, the Malaysian government-backed transport company, has ordered 20 sets of six-car light rail vehicles for the extension of the Ampang LRT (light rapid transit) line and the new Putra Heights suburb line serving Kuala Lumpur.
The trains will be delivered in 2015 and 2016.
CSR Zhuzhou beat favourite Bombardier Transportation-Scomi Rail Berhad and four other companies from Korea, China, Spain and Romania for the deal.
Trains currently used on the LRT lines in Kuala Lumpur were supplied by Bombardier.
The Ampang Line contract is CSR Zhuzhou's second in Malaysia.
The company is currently supplying 38 sets of six-car electric multiple units for the government railway company Keretapi Tanah Melayu (KTM) under a $600 million contract placed by the Ministry of Transport in 2010.
These trains are replacing existing vehicles and increasing capacity on KTM’s commuter services in the Klang Valley covering the major cities of Kuala Lumpur, Petaling Jaya, Klang, Shah Alam and Rawang.
They can travel at 140km/h and carry up to 1,200 people.
A technical expert at CSR Zhuzhou said the Ampang Line trains will have a maximum design load of 1,308 passengers, a speed of 80km/h and a minimum turning radius of 40m, and will be fitted with a specially designed hydraulic braking system.
To cope with the steep slopes and tight curves on the route, they will incorporate technology that has already been applied and verified on light rail vehicles in Izmir, Turkey.
Taking account of Malaysia’s tropical marine climate, anti-corrosion and dehumidification treatment will be applied to all components and equipment, the spokesman said.
Under the terms of the contract, some of the trains will be assembled locally at a new manufacturing plant in the northern state of Perak.
CSR Zhuzhou official Chen Jie said the company plans to use Malaysia as a hub to expand its business in the ASEAN region, which comprises the ten nations of Thailand, Myanmar, Vietnam, Singapore, Laos, Cambodia, Indonesia, Malaysia, Brunei and the Philippines.
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News - SupplyChain Review
April 24, 2012
SCT Logistics says it is ‘humbled’ by the noise, ride and speed performance of its six new China Southern Rail (CSR)locomotives.
Managing Director Geoff Smith says the rail operator conceived and specified the locomotives to be more flexible and efficient and give the rail operator an advantage in the very competitive freight industry.
Built by CSR, China’s leading rail manufacturer, the locomotives meet strict Australian standards and European Stage IIIA Emission Standards.
The new locomotives represent the first non American powered heavy haul locomotives to enter Australia.
“American technology has always dominated the Australian freight rail industry,” Smith says.
“However one of the issues we now face is that the average age of the fleets that operate across Australia is nearly 30 years old with most not conforming to current standards, especially 21st century emission standards.”
According to SCT, the new locomotives emit less carbon than any other locomotives in Australia and will set a new benchmark for the Australian rail industry moving forward.
“CSR was looking to build a locomotive that incorporated all the latest features and powered the locos with the well respected German MTU engine,” adds SCT General Manager Rail Noel Ramsey.
The MTU engine is over 4200 HP and with its advanced design will ensure significant fuel savings.
SCT has been rigorously testing the locomotives with CSR.
With isolated driving cabs, a proven bogie configuration and extensive design solutions to minimize noise and vibration, the CSR locomotive has comfortably demonstrated compliance to the stringent Australian Rail Codes when tested at 130 plus kph on the test track north of Port Augusta.
“Contrary to all the sceptics that considered that the Chinese could not produce a locomotive that could match the capability of other locomotives used in the Australian market, the CSR locomotive has already proven itself by hauling one on the biggest iron ore trains from Port Augusta to Adelaide on the 7th of March 2012,” Geoff Smith says.
SCT will have itsfull fleet up and running by June 2012.
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Chinese high-power locomotives exported to Europe|Companies|chinadaily.com.cn
Updated: 2012-04-24 09:49
BEIJING - A Chinese locomotive maker announced on Monday it has exported two electric locomotives to Belarus, marking the first time China-made freight locomotives have been exported to Europe.
Datong Electric Locomotive Co Ltd (DEC), a subsidiary of China North Locomotive and Rolling Corp Ltd, said the event also represented the first export of China's high-power electric locomotives overseas.
In 2010, DEC won a bid to provide 12 electric locomotives to Belarus. They are all set to be delivered this year. Designed to reach a speed of 120 km per hour, the locomotives will be used for freight transportation.
Last edited by Dolcevita; 04-30-2012 at 06:07 PM.
Chuckle Belarus is closer to Russia than Central Europe
China's April CPI growth to ease to 3.3 pct: report
The growth of China's inflation rate is expected to ease in April from the previous month with the slowing of food price rises, according to a report released by the Bank of Communications.
The consumer price index (CPI), a main gauge of inflation, is likely to increase 3.3 percent year-on-year in April, slightly down from March's 3.6-percent growth, the bank said in an email report to its clients.
The bank attributed the slowdown to slower food price rises and a smaller carryover effect from last year, which was 0.1 percentage points less than that of March.
Food prices, which account for one-third of the basket of goods used to calculate China's CPI, will decline 0.5 to 1 percent in April from March, it said.
It also projected non-food prices to fall 1.6 percent month-on-month in April.
The National Bureau of Statistics is scheduled to release April's economic data on May 11, which will include the CPI and figures for industrial production, retail sales and fixed asset investment.
The Chinese government aims to keep CPI growth around 4 percent for the year.
Last edited by bladerunner; 04-30-2012 at 12:10 AM.
Fact is Belarus is part of Europe, No misrepresentation here.
Also, I concide that fact was Belarus was previously a part of the Soviet Union. But that does not make it beiong closer to Russia than Europe because Belarus is part of Europe.
Anyway, I do not think I will convince you to change your malicious ways. Please proceed because I do not wish to ruin this good thread. Just stay away from my posting as I do not wish to have any discussions with you,
Last edited by Dolcevita; 04-30-2012 at 12:19 AM.
[QUOTE=Dolcevita;187252 Please proceed because I do not wish to ruin this good thread. Just stay away from my posting as I do not wish to have any discussions with you,[/QUOTE]
And yet you felt free to comment on my postings In the South Seas Forum. Double standards I think.
Futhermore this is an open forum where everyone is free to comment on any post as they please.
Last edited by bladerunner; 04-30-2012 at 03:27 AM.
Logic (especially given the example of the early '80's) would seem to suggest that we should be expecting at least the same interest rates as then (22% at one point IIRC), eventually, if not much more. But that was "stagflation". Now we're dealing with it's evil-er twin, "biflation". Anyone's guess as to what, when, and how, will come of this. Best historical example that immediately comes to mind is 3rd-5th century Rome. Like that clears things up (except for the ending part...)
In short, it seems really difficult to make any meaningful predictions, or even to draw useful conclusions, at this stage. Sorry for the late response; been rather busy lately.
Last edited by Norfolk; 04-30-2012 at 08:49 PM.