Chinese Economics Thread


Hendrik_2000

Brigadier
After years of long delay finally the HSR railway connecting China to Thailand is inaugurated.
It goes a long way to fulfill the dream of Kunming to Singapore Trans Asian railway now that the Laos part is also in construction slated to finish in 2020
 

Equation

Lieutenant General
This is hilarious. The US could learn a thing or two from China when it comes to disregarding international rulings. When China said it wasn't gonna make a difference what Hague said on the South China Sea, China took it all the way through. They didn't present arguments; they didn't participate; they didn't even send observers to the courts. Message: we don't care.

Then there's Nikki Haley, (real name Nimrata Randhawa), who attends the UN vote, participates in its discussion, THREATENS other countries to cast their votes in a certain way (LOL), casts it's own vote, loses the decision by a huge margin, then says it doesn't really matter cus the US doesn't care. I really can't think of a way to make the US look worse. If they paid me to think of a way, I couldn't. Maybe if she screamed and cried at the end? LOL

Then afterwards, she sends invites to a "reception" for all those who "supported" the US but since it's going to look really stupid with only 9 people in attendance (assuming they all make it), she adds all the countries who abstained or didn't bother to come in order to bring the list to 65. You can't make this up, guys!

And "we'll be taking down names when you cast your vote" is presumably how people like Kim Jong Un get 99.99% of the votes every time.
 
now I read
China launches apple futures
Xinhua| 2017-12-22 23:31:20
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The world's first apple futures contracts started trading on the Zhengzhou Commodity Exchange in central China's Henan Province Friday morning.

China is the world's largest apple grower and consumer, and its apple output and farms have been increasing over the past decade. In 2016, China had 2 million hectares of apple trees with an output of 43.88 million tonnes, accounting for 57 percent of global supply.

Fang Xinghai, deputy head of the China Securities Regulatory Commission, said it is the world's first fresh fruit futures contract and demanded the Zhengzhou exchange enforce strong supervision and risk management.

Apple cultivation is key to China's poverty alleviation campaign, as many of China's poor areas rely on apples as a major income source. Among the 122 key apple-growing cities and counties listed by the Ministry of Agriculture, 33 are designated as national-level impoverished counties.

Currently, apple prices are solely determined by the market, and farmers and enterprises are at the mercy of market price fluctuations.

The launch of the futures is expected to make prices more transparent and help growers hedge against price risks.

It is the task of the futures market to turn apples into a stable source of income for farmers in impoverished regions, Fang said.

"The purpose of launching apple futures is not merely to have a new product, but to help the real economy," said Chen Huaping, president of the Zhengzhou exchange.

Chen said the exchange will develop derivative products of the futures.
 

AssassinsMace

Brigadier
This is hilarious. The US could learn a thing or two from China when it comes to disregarding international rulings. When China said it wasn't gonna make a difference what Hague said on the South China Sea, China took it all the way through. They didn't present arguments; they didn't participate; they didn't even send observers to the courts. Message: we don't care.

Then there's Nikki Haley, (real name Nimrata Randhawa), who attends the UN vote, participates in its discussion, THREATENS other countries to cast their votes in a certain way (LOL), casts it's own vote, loses the decision by a huge margin, then says it doesn't really matter cus the US doesn't care. I really can't think of a way to make the US look worse. If they paid me to think of a way, I couldn't. Maybe if she screamed and cried at the end? LOL

Then afterwards, she sends invites to a "reception" for all those who "supported" the US but since it's going to look really stupid with only 9 people in attendance (assuming they all make it), she adds all the countries who abstained or didn't bother to come in order to bring the list to 65. You can't make this up, guys!

And "we'll be taking down names when you cast your vote" is presumably how people like Kim Jong Un get 99.99% of the votes every time.

Yes and you should see the critics of Trump's action telling the truth why the US gives foreign aid. They charge Trump doesn't understand it's soft power for the US and American interests not how Trump believes it's the US doing other countries a favor and they're ungrateful. And somehow it's wrong when China does it and shows China doesn't do it from their "heart." Trump is their Frankenstein blowback, a creation that resulted from the US is indispensable and exceptional rhetoric.
 
now I read
China can double 2010 GDP with 6.3-pct growth in 2018-2020
Xinhua| 2017-12-23 19:25:09
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China needs annualized growth of 6.3 percent in 2018-2020 to realize the target of doubling the 2010 GDP by 2020, an official said Saturday.

"Judging from current economic performance, there will not be any huge barrier in meeting the goal," Yang Weimin, deputy head of the office of the central leading group on financial and economic affairs, said at an economics forum.

Five years ago, China decided to double 2010 GDP and per-capita income by 2020 as an important component of becoming a moderately prosperous society in all respects.

GDP expanded 6.9 percent year on year in the first three quarters of 2017, above the government's target of around 6.5 percent for the whole year.

In a report delivered at the 19th National Congress of the Communist Party of China, no more GDP-doubling target was mentioned, showing China's emphasis on development quality rather than fast expansion.

"High-quality development is the fundamental requirement for determining the development path, making economic policies and conducting macroeconomic regulation," said a statement following the central economic work conference on Wednesday.

"The theme of economic development will become high-quality development, instead of rapid growth," Yang said.

The potential growth rate has changed due to upgraded consumption, financial risk and environmental constraints, he added.

"If China ignores these realities and continues to be obsessed with fast growth rates, the concomitant risks will outweigh the increase in GDP," Yang said.

China must build and improve mechanisms for pushing forward high-quality development, including indicators, policies, standards, statistical and performance assessment systems, according to the Wednesday statement.

Realizing high-quality development is a must for sustaining healthy economic development and adapting to the country's new principal contradiction between unbalanced and inadequate development and the people's ever-growing needs for a better life, it said.
 
now I read
China completes the Arctic Northeast Passage Communication Guide
2017-12-24 20:38 GMT+8
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China has recently finished compiling a communication guide for the Arctic Northeast Passage, according to the Ministry of Transport's Beihai Navigation Guarantee Center in Tianjin city.

Using both pictures and texts, the guide marks out the 17 main radio stations along the journey that starts from China’s east coastline, passes the Bering Strait and goes all the way up to the Arctic’s Northeast Passage, with information on where these communication bases are located and when they’re operating.

This will help transportation and logistics businesses fully understand the Northeast Passage’s ability to guarantee navigation, and provide references for ships and cargoes traveling through the area.

The Northeast Passage’s range extends to about 3,000 sea miles across the Bering Strait and heading to the west, where it will eventually lead to every port in Europe, becoming the shortest water voyage between China and Europe.

Compared to traditional trade routes, the Northeast Passage usually saves 12 to 15 days in shipping time, earning it the nickname of “Golden Waterway”. It is also known as the "Silk Road on Ice".
 
now I read
China's industrial firms see slower profit growth
Xinhua| 2017-12-27 16:20:49
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China's major industrial firms reported slower profit growth in the first 11 months, but saw progress in improving profitability and lowering debt levels, the National Bureau of Statistics (NBS) said Wednesday.

Businesses with annual revenue of more than 20 million yuan (about 3 million U.S. dollars) reported aggregate profits of 6.88 trillion yuan in the first 11 months, a 21.9-percent increase from one year earlier.

The growth marked a mild slowdown from 23.3 percent in the January-October period. In November alone, profits were up by 14.9 percent, down from 25.1 percent during the previous month and the weakest pace since April.

Combined revenue from main business was up 11.4 percent in the first 11 months, down from 12.4 percent in October.

NBS statistician He Ping said slowing price growth bit into corporate profits.

"Primary calculation showed price changes... reduced profits by 94.4 billion yuan month on month, dragging down the profit increase by 13.8 percentage points," he said.

He stressed that business performance had continued to improve, citing dropping costs, faster capital turnover rates and lower corporate leverage.

Industrial profit margins rose to 6.36 percent, up 0.54 percentage point year on year. The debt-asset ratio, which measures the business debt burden, dropped to 55.8 percent by the end of November from 56.3 percent a year ago, due to government efforts to defuse financial risks.

He said high-tech manufacturing remained robust as revenue growth and profit margins were well above the industrial average.

In a breakdown of 41 industries surveyed, 39 posted profit increases during the first 11 months, and only 2 logged shrinking profits.

Coal, ferrous metal, chemicals, oil and natural gas contributed 52.8 percent to the total profit increase. Profits in coal mining and cleaning grew the fastest, more than triple compared to a year ago, followed by machine repair and ferrous metal.

The industrial sector, which accounts for about one-third of China's
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, started to pick up last year amid nationwide supply-side structural reform efforts, which include policies to trim excessive production capacity, reduce inventory, cut costs, deleverage, and address weak points.

The producer price index, which measures factory-gate inflation, rose by 7.8 percent in February, the fastest pace since 2008.

Industrial activities have softened during the past few months as regulators moved to curb financial risks and step up environmental protection.

Despite the retreat, Li Chao with Huatai Securities ruled out risks of a substantial slip, saying the industrial sector is resilient and the broader economy will also remain stable.

The country's GDP held steady to expand 6.9 percent year on year in the first three quarters.
 
yes, I read
Yearender: From "Made in China" to "Created in China," Chinese innovations light up world
Xinhua| 2017-12-29 14:51:13
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From "Made in China" to "Created in China," Chinese innovations are lighting up the world through reshaping people's daily lives and leading global efforts to explore the frontiers of science and technology.

Javed Dar, a photographer based in Indian-controlled Kashmir, posted a picture on Chinese social media mobile application WeChat, showing himself riding an orange-rimmed shared bike on a cycle track in Beijing.

The caption he wrote for the photo reads "bicycle-sharing is one of the innovations of China. You have a phone app, and any of the millions of bicycles scattered on sidewalks everywhere can be yours. You scan a code, you ride, you leave and lock the bike wherever and whenever after you finish your ride."

After a two-week-long trip to China, Dar became a proficient user of WeChat, an application that almost every Chinese would use as a communication tool, a social platform and even a wallet.

During his stay in Beijing, Dar recommended his family and friends to download WeChat so that they could keep in touch through free WeChat video calls.

And via the function of translation, Dar found it quite easy and efficient to understand what his friends were saying on WeChat, no matter it was in Chinese or in other languages, making possible communication without any barrier.

As one of many Chinese innovations that have completely changed people's lives, WeChat is only a glimpse of the energy and creativity in today's China.

RESHAPING WAY OF LIVING WORLDWIDE

Dockless shared bicycles, high-speed rail, mobile payment and e-commerce have earned a reputation of China's "four great new inventions" in modern times.

These innovations have completely changed people's lifestyle in China. And now they are also reshaping the way of living worldwide.

China's cashless and dockless bike-sharing scheme is going globe as two leading Chinese bike-renting companies Ofo and Mobike are competing to expand their overseas markets.

Yellow or orange bikes can be spotted on the streets of Singapore, Britain, Italy, the Netherlands, the
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and
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.

In Manchester, Britain, Mobike has been rolled out on city streets and is filling up the city's bike hiring requirements.

Rafael Cuesta, head of innovation at Transport for Greater Manchester (TfGM) said the community was looking for intelligent vehicles and looking at Internet of Things solutions for transport. And the customer-focused Mobike scheme fits well with the city's need of intelligent mobility.

More encouragingly, Mobike could use its digital connectivity with the shared bikes to collect data on details of all journeys made. These anonymized data would be shared with TfGM to create a better city.

In another corner of the world, technology of mobile payment has burgeoned in Manila, the
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and has provided customers with a digital way to pay via smartphones besides cash and cards.

GCash, a Philippine mobile wallet service provider for conducting payment and money transfer, resembles China's Alipay established by e-commerce titan Alibaba Group, who plays a leading role in China's marveling digital revolution.

People use the GCash payment app to scan QR codes put up on mall counters and with several clicks by finger, the transaction can be done within seconds.

Apart from the above, China's high-speed rail as well as the e-commerce scheme have also been introduced in many countries, bringing more convenience and benefits to other parts of the world.

LEADING TRIALS TO EXPLORE THE UNKNOWN

Changing the way of life is only one aspect. In recent years, China's innovations are also leading the world efforts to make breakthroughs in the frontier fields of science and technology.

Wukong, name of the Monkey King in the classic Chinese tale Journey to the West which literally means "understanding the void," is used to nickname China's Dark Matter Particle Explorer (DAPME).

In December, 2015, Wukong was launched. It is helping Chinese scientists lift the cloak of invisibility from dark matter.

"DAPME has opened a new window to observe the high-energy universe, showing new physical phenomena beyond our current understanding," said Chang Jin, chief scientist of DAMPE. China's dark matter detection satellite is the most powerful space probe for high-energy cosmic rays. It has the highest energy resolution and particle identification ability, perfect for searching for traces of the annihilation or decay of dark matter particles, scientists say.

In August 2016, China launched the world's first quantum satellite, Quantum Experiments at Space Scale (QUESS). It has realized the distribution of entangled photon pairs over 1,200 kilometers and has proved that quantum entanglement, described by Albert Einstein as a "spooky action," still exists at such a distance.

Nicknamed "Micius" after a 5th Century B.C. Chinese philosopher, the 600-kilogram-plus satellite was sent into a sun-synchronous orbit at an altitude of 500 kilometers.

Micius is missioned to test quantum encryption and quantum teleportation technology that could one day offer quantum communication which is hack-proof. And the test has established China as a front-runner in the field of quantum communication.

More to be listed are the
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deep-sea manned submersible, the Tiangong-2 space lab and the FAST radio telescope -- all are carrying out missions to explore the unknown.

REVOLUTIONIZING SCI-TECH SYSTEM

The vitality of China's innovation comes from the revolutionary reforms over the past five years in China's science and technology system.

Measures have been taken to encourage brain gain, increase funds and improve policies that promote innovations.

"With more than 30 years of accumulation, China's development of science and technology has experienced transition from quantity into quality," said Huo Guoqing, a professor at the University of Chinese Academy of Sciences. "It's time for breakthroughs."

Wan Gang, minister of science and technology, said China's historic transformation from copying the western world to integrated innovations has demonstrated a new concept of China to regard innovation as a primary force driving development.

At the 19th National Congress of the Communist Party of China (CPC), Chinese President
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called for more efforts to make China a country of innovators.

"We will strengthen basic research in applied sciences, launch major national science and technology projects, and prioritize innovation in key generic technologies, cutting-edge frontier technologies, modern engineering technologies, and disruptive technologies," he said.

These efforts will provide powerful support for building China's strength in science and technology, product quality, aerospace, cyberspace, and transportation, and for building a digital China and a smart society, he said.
 

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