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Thread: Chinese Economic & Social Affairs

  1. #141
    Professionals Martin's Avatar
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    Taiwan cancer drug gets OK for US clinical trials | Taiwan Today

    "Taiwan cancer drug gets OK for US clinical trials
    Publication Date:03/26/2014
    Source: Taiwan Today

    TMU and NTUCM researchers are pleased with the news that anti-cancer drug MPT0E028 has been approved by the U.S. FDA for human clinical trials. (Courtesy of TMU)

    A Taiwan-developed anti-cancer drug was recently greenlighted by the U.S. Food and Drug Administration for phase one human clinical trials, according to the ROC Ministry of Science and Technology March 25.

    MPT0E028, a potent histone deacetylase inhibitor, has shown promising results in treatment of cancer as demonstrated in Taiwan tests involving 60 different human tumor cell lines.

    The drug was developed by researchers from National Taiwan University College of Medicine and Taipei Medical University, with funding from the MOST and Formosa Pharmaceuticals under the National Research Program for Biopharmaceuticals.

    According to the researchers, MPT0E028 is especially effective in suppressing tumor growth in the treatment of colorectal, hepatic, lung and pancreatic cancers, as well as leukemia and lymphoma, with animal test subjects exhibiting no significant side effects.

    The drug is set to assist global efforts in combating cancer by furthering the development of targeted cancer therapies, which have gradually replaced the traditional chemotherapy, the researchers added.

    TMU’s Liou Jing-ping, a leader of the research team, said the drug is being reviewed by the Food and Drug Administration under the ROC Ministry of Health and Welfare. It is expected that phase one of clinical trials will kick off in Taiwan in the second half of the year, he added.

    The first homegrown anti-cancer drug developed by Taiwan’s tertiary institutions to win FDA approval for clinical trials in humans, MPT0E028 holds patents in Taiwan and has approvals pending in 19 countries and territories, including Australia, the EU, New Zealand and Russia.

    MPT0E028’s Taiwan test results were published in prestigious international medical journals such as Cell Death and Disease and Clinical Cancer Research, respectively, in late 2013 and earlier this year.

    MOHW data shows that cancer is Taiwan’s No. 1 cause of death since 1982, and according to the World Health Organization, the number of people with cancers worldwide is expected to increase 57% over the next two decades. (YHC-JSM)"
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  2. #142
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    Taiwanese beats 20,000 students to win IBM's Master of the Mainframe World Championship

    Taiwan Today

    "News Ticker
    Publication Date: 04/10/2014
    Source: Taiwan Today

    (Courtesy of IBM)

    Taiwan students turned in top performances at the IBM Master the Mainframe World Championship April 8 in New York. Shih Yong-siang from National Taiwan University’s Graduate Institute of Computer Science and Information Engineering took top honors, while Jhang Jia-sian from the Graduate Institute of Computer Science and Information Engineering at National Central University in Taoyuan County, northern Taiwan, finished 28th among 43 contestants from 22 nations. Open to international college and high school contestants for the first time this year, the one-month championship running March 10 - April 8 saw around 20,000 competitors go head to head."


    IBM developing next generation of mainframe professionals | ComputerWeekly

    "IBM developing next generation of mainframe professionals
    Kayleigh Bateman
    Thursday 10 April 2014 10:30

    IBM has announced three Massive Open Online Courses (MOOCs) in a bid to develop the next generation of mainframe professionals.

    IBM’s MOOCs are being provided free, through partnerships with Syracuse University, Marist College and the Linux Foundation.

    Nmedia - Fotolia

    The announcement was made at the supplier’s Mainframe50 event in New York this week, held to mark IBM’s 50th anniversary of the mainframe. Some 500 people from 38 countries gathered for the anniversary celebration.

    Steve Mills, senior vice-president, sales and distribution at IBM, said: “It’s been 50 years for the mainframe, but we’re really at the beginning of how the technology will continue to change our lives. The mainframe is the workhorse of businesses around the world.”
    Mainframe skills development

    During the event, Pat Toole, general manager, IBM System z at IBM, said: “There is a skills challenge in our industry – in attracting young people to understand and add value to those in businesses [and] skilling up those already in the workforce.”

    The event also showcased the winners of IBM's Master of the Mainframe World Championship 2014, in which 20,000 students participated across 38 countries.

    The students work remotely, receiving training from IBM zEnterprise instructors on how the platform supports cloud, big data and analytics, mobile and security initiatives. Competitors are then tasked to build a business application on the mainframe.

    The 2014 championship winner was Yong-Siang Shih from National Taiwan University.

    Master of the Mainframe 2012 winner Dontrell Harris was present to reveal how he is now a mainframe capacity and performance analyst at Metlife.

    “Taking part in the competition has helped me achieved a lot of things and has really changed my life,” he said.

    In addition, seven years ago IBM launched its IBM Academic Initiative, which develops enterprise computing skills to aid students in having exposure to IT job opportunities and careers in the sector.

    Since its launch, IBM has worked with more than 180,000 students at over 1,000 schools in 70 countries."
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  3. #143
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    Chinese scientists make flat surface behave like spherical antenna

    Scientists make flat surface behave like spherical antenna | Christian Science Monitor

    "Scientists make flat surface behave like spherical antenna
    Scientists create an artificial surface that can bend and focus electromagnetic waves like an antenna
    By Sudeshna Chowdhury, Staff writer / April 15, 2014

    The prototype of the fabricated metasurface lens shown with simulated x components of electric fields at 9 GHz with the source placed at the bottom left, right and center of the lens. (Credit: T.J. Cui/Southeast University Nanjing)

    Researchers from China have created artificial surfaces that can bend and focus electromagnetic waves just like an antenna.

    By arranging a large collection of tiny, metallic, U-shaped structures on the surface of a dielectric material, the team manufactured what they are calling "the first broadband transformation optics metasurface lens." The new lens has properties not found in nature.

    The unique lens was engineered to mimic the properties of a Luneburg lens, a spherical lens first developed in the 1940s. Most lenses made up of single materials, such as plastic or glass, can uniformly bend light. The refractive index of a lens depends on what material it is made of. Glass, for example, has a refractive index higher than than of quartz. But in a Luneburg lens, the refractive index varies across its spherical surface, so the light bends depending on which part it hits.

    Also, a typical Luneburg lens is unusual because it “can focus plane waves to a point at the edge of the lens, or radiate waves of the point source with high directivities, according to the findings of the study published in the journal of Applied Physics Letters on April 14, 2014.

    Simply put, such a lens is capable of focusing light or electromagnetic waves to an “off-axis point at the edge of the lens." This means that the lens doesn’t directly focus light in front of it or behind it like a normal lens does. It can also direct electromagnetic waves coming from a nearby point source and radiate them in a particular direction.

    Luneburg lenses have a wide range of applications as radar reflectors and as microwave antennae.

    But the spherical nature of a Luneburg lens limits its use in other applications, Tie Jun Cui from Southeast University in Nanjing, China and an author on the paper said in a press release.

    Therefore, the idea was to create a lens which would be flat yet it would have all the properties of a Luneburg lens.

    "We now have three systematical designing methods to manipulate the surface waves with inhomogeneous metasurfaces, the geometric optics, holographic optics, and transformation optics," Dr. Cui said. 'These technologies can be combined to exploit more complicated applications.'"
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  4. #144
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    China will complete 9 nuclear reactors in 7 months

    China's nuclear growth | Nuclear Engineering International

    "China’s nuclear growth
    By Ian Hore-Lacy and Stephen Tarlton
    12 June 2014

    Over the next two years, many more new reactors are expected to start up in China, doubling nuclear capacity from today’s levels. Although its nuclear new-build programme remains vastly larger than anywhere else in the world, nuclear capacity growth is expected to diminish in the 2020s.

    Map of nuclear power stations in China

    With the startup of Ningde 2 in January 2014, the number of operational nuclear reactors in mainland China reached 20, with a combined net capacity of almost 17 GWe (see Table 1). By the end of 2014, the number of reactors in the country is expected reach 30, bringing the total nuclear capacity to around 27 GWe. In 2015, capacity should reach 36 GWe, as a further eight reactors are brought online. This impressive growth comes in spite of a slowdown in nuclear power construction that followed the March 2011 Fukushima accident in Japan.

    In response to the accident, China's State Council decided to halt approvals and licensing of new reactors until a safety plan was in place and there was assurance that existing plants were adequately designed, sited, protected and managed. Work was also suspended on four units that had been approved (Fuqing 4-6 and Yangjiang 4) and were due to start construction in 2011. The Shidaowan HTR-PM demonstration project, although ready for first concrete, was also delayed.

    Power generation continued at reactors in operation at the time of the accident, and construction continued at 25 approved units where work had started. (article continues)"

    China could complete 9 nuclear reactors in the next 7 months and then start construction on 30 reactors over the next 18 months | Next Big Future

    China could complete 9 nuclear reactors in the next 7 months and then start construction on 30 reactors over the next 18 months
    June 12, 2014

    By the end of 2014, the number of reactors in the country is expected reach 30, bringing the total nuclear capacity to around 27 GWe. In 2015, capacity should reach 36 GWe, as a further eight reactors are brought online. 18 units are expected to start up within the next two years, taking nuclear capacity close to the projected 40 GWe figure.

    In the near term the rate of new approvals is likely to slow down, because of a government decision to approve only coastal sites before the end of the 12th Five-Year Plan period (2011-2015). Previously, a large number of inland projects had been expected to start construction before the end of 2015. Furthermore, China is focusing on third-generation technologies and this is likely to result in fewer new reactors being approved until these technologies are established.

    The nuclear capacity target for 2020 is now 58 GWe in operation with 30 GWe under construction. This represents a significant proportion of the projected global new nuclear capacity over this period. But within China itself, nuclear generation plays a relatively minor part in the country's energy mix.
    Coal is king in China

    By far the biggest contributor to China's electricity generation is coal. According to figures from the International Energy Agency, in 2011 a total of 4755 TWh was generated in China, 79% (3751 TWh) of which was from coal. Most of the remainder came from hydropower, which accounted for 15% (699 TWh) of generation in that year. The 86 TWh generated by nuclear in 2011 represents only 1.8% of the total.

    At the end of 2012, installed generating capacity in mainland China reached 1145 GWe, an increase of 19% in two years. Coal accounted for 59% of the new capacity in that year. Nuclear power contributed 2.0% (98 TWh) of the total year's production, according to the China Nuclear Energy Association (CNEA). Capacity growth is expected to slow in the future, so that installed capacity will reach about 1600 GWe in 2020, and 2000 GWe in 2025.

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  5. #145
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    Re: Chinese Economic & Social Affairs

    Manufacturing expands after 6 months of doldrums

    Global Times

    PMI rebound reflects impact of SME support measures: economist

    A preliminary HSBC survey has shown that activity in China's manufacturing sector expanded in June for the first time in six months, reinforcing sentiments that the economic recovery is stabilizing as a result of the government's mini-stimulus.

    The flash reading of China's manufacturing Purchasing Managers' Index (PMI) rose to 50.8 in June from a final reading of 49.4 in May, HSBC Holdings PLC said in a report issued Monday, beating a market forecast of 49.7.

    A PMI reading above 50 indicates growth, while a reading below that figure indicates contraction. The June reading was the highest since November 2013.

    Analysts, however, still expect more fine-tuning steps to be rolled out in the following months to maintain steadier economic growth.

    "This month's improvement is consistent with data suggesting that the authorities' mini-stimulus is filtering through to the real economy," said Qu Hongbin, chief economist for China at HSBC.

    Qu's opinion was echoed by Zhang Lei, a macroeconomic analyst with Minsheng Securities.

    Zhang told the Global Times Monday that the rebound in PMI reflects the impact of government policy support measures for small and medium-sized enterprises (SMEs) in recent months.

    For instance, the government has extended tax breaks. In April, the State Administration of Taxation announced that any enterprise with annual taxable income below 100,000 yuan ($16,010) would have their business income tax halved from January 1 this year to the end of 2016. The previous threshold was 60,000 yuan.

    A sub-index, manufacturing output, rose to 51.8 in June, also the highest in seven months and up from May's 49.8.

    "The HSBC readings confirm our views that stable economic recovery will continue throughout the second quarter," said Zhang.

    According to a research note Bank of America-Merrill Lynch e-mailed to the Global Times, the preliminary reading in June indicates that sequential growth will increase to 1.8 percent in the second quarter from 1.4 percent in the first quarter, and that GDP growth in the second quarter is expected to increase to 7.5 percent.

    Qu believes that infrastructure investments and related sectors will keep on supporting the recovery in the next few months.

    Premier Li Keqiang vowed last Wednesday that China's economy would not have a hard landing.

    To maintain stable growth, the government is expected to continue issuing more measures, Lu Ting, an economist at Bank of America-Merrill Lynch, said in the research note.

    And it is time for the government to launch some measures to offset the risks from the property downturn, Zhang remarked.

    Among other sub-indices offered by HSBC, overall new orders, a reading to measure foreign and domestic demand, grew sharply, while growth in new export orders slowed slightly, indicating that the rise was mainly driven by domestic consumption.

    Zhang said that companies, especially export-oriented ones, are reluctant to sign long-term orders due to the continuous appreciation of the yuan.

    Data from the General Administration of Customs showed that in the first five months of 2014, China's exports reached 5.4 trillion yuan, a 2.7 percent drop year-on-year.

    Although companies have seen orders increase, they are still struggling to make ends meet, said Chen Naixing, head of the SME Research Center of the Chinese Academy of Social Sciences.

    "Their profit margins are narrowing due to rising labor costs as a result of labor shortages," said Chen.

    Zhang thinks that the government could continue reducing taxes and administrative fees to ease their burden.

    But Chen held a different attitude, expecting no incremental financial support measures for enterprises from the government; otherwise they will be "lazy when it comes to upgrading their production lines."

    The final results of the HSBC PMI survey for June will be released on July 1 and those of a separate government-sponsored manufacturing PMI will be published on the same date.

    The official PMI reading is usually stronger than the HSBC PMI as the official survey is more focused on large, State-owned firms and the latter on smaller, export-oriented firms.
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  6. #146
    Elite Member T-123456's Avatar
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    Turkey Netherlands

    Re: Chinese Economic & Social Affairs

    [MENTION=2569]Red Dragon[/MENTION] Ni Hao,China and Turkiye to sign FTA(Free Trade Agreement),i only have it in Turkish,do you have it in English?
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  7. #147
    Senior Member Red Dragon's Avatar
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    Re: Chinese Economic & Social Affairs

    Quote Originally Posted by T-123456 View Post
    [MENTION=2569]Red Dragon[/MENTION] Ni Hao,China and Turkiye to sign FTA(Free Trade Agreement),i only have it in Turkish,do you have it in English?
    I will look for it and put up if I find.

    In the mean time:

    A New Start for Change

    After 65 years of development, China has ignited a new round of reforms to create an even brighter future
    By Li Li

    FESTIVE MOMENT: A father and his son visit the Badachu Park in Beijing on September 21, which has been decorated to celebrate the National Day on October 1 (CNSPHOTO)

    When the People's Republic of China was founded on October 1, 1949, the new government inherited an economy that was overwhelmingly agrarian, ravaged by decades of warfare, and wracked by widespread poverty.

    Many mines and factories had been damaged or destroyed. Transportation, communication, and power systems had been destroyed or had deteriorated because of lack of maintenance. Agriculture had been disrupted, and food production was significantly below its pre-war peak level. Furthermore, economic ills were compounded by one of the most virulent instances of inflation in global history.

    Many observers of post-1949 China doubted whether the brand-new government could survive the economic chaos.

    Progress driven by reforms

    Sixty-five years later, the Chinese economy, regarded by many as the most dynamic in the world, is on track to become the No. 1 economy by sheer size.

    According to official figures, China's outbound direct investment reached a record high of $108 billion in 2013, making it the world's third largest investor for the second year running. The annual growth rate of 22.8 percent was much higher than the 1.4-percent gain in global outbound investment.

    Chinese e-commerce company Alibaba Group Holding Ltd. made the biggest stock market debut in history when it was listed at the New York Stock Exchange on September 19, raising a total of $21.8 billion and soaring 38 percent in its first session, as investors clamored for a piece of the company, representing a massive bet on the future growth of China's burgeoning middle class.

    According to the latest Fortune Global 500 list, released in July, China saw 100 companies entering the list, securing the No.2 place in the number of companies on the list and marking the 11th year straight that the number of Chinese companies has increased.

    In 2013, a Chinese bank, Industrial and Commercial Bank of China (ICBC), for the first time topped The Banker magazine's annual rankings of the profits and capital strength of the world's 1,000 largest banks. In the rankings released this July, the growth story of Chinese banks looks to be continuing unabated, with ICBC keeping its position as the strongest bank, and China's top banks accounting for almost one third of a record $920 billion of profits made by the world's top 1,000 banks last year.

    The World Intellectual Property Organization (WIPO) said in March that the United States and China drove record-level patent-filing activity via WIPO in 2013 as the number of annual international patent applications surpassed the 200,000 mark for the first time. China, accounting for 29 percent of total growth under WIPO's Patent and Cooperation Treaty (PCT) system, overtook Germany to become the third largest user of the system.

    "Reforms have profoundly and comprehensively transformed China. In retrospect, every major round of reforms has been promptly followed by a period of fast economic growth and social progress and whenever the socioeconomic development was met with difficulties and barriers, a new round of reforms was initiated in response," said Chi Fulin, President of the China Institute for Reform and Development.

    ALL GOOD NEWS: An official (right) explains the new registration policy to an applicant in Suining, Sichuan Province, on March 3 (ZHONG MIN)

    Xiaogang, a small village in Fengyang County, east China's Anhui Province, is famous for representing the epitome of China's last round of rural reforms. It started with a secret arrangement among local farmers to subdivide their common farmland in December 1978, after which agricultural production increased dramatically. The village was then held up as a model by China's leadership in launching a national reform that made rural households contractors of farmland, and greatly incentivized agricultural production and productivity.

    The reforms have transformed China's rural areas as well as people's lives in Xiaogang. Half of the families in this village now live in villas. Local farmers have in recent years built tourism facilities, including a museum related to the famous reform, to attract urban residents seeking a vacation getaway. The revenues from running vineyards and family-run hostels have boosted the local farmers' per-capita income to more than 12,000 yuan ($1,950) in 2013, compared to a mere 20 yuan ($3.2) in 1978.

    After becoming the general secretary of the Communist Party of China (CPC) Central Committee in November 2012, Xi Jinping, who was elected Chinese president the following March, wasted no time in reassuring the world that the CPC will not only persevere with reforms championed by Deng Xiaoping, chief architect of China's reform and opening up, but also initiate new paths. Shenzhen, the special economic zone of south China's Guangdong Province that is synonymous with the country's 36-year-old era of reform drive, was the first city that Xi inspected after becoming the Party chief.

    "I chose Guangdong because I intended to reflect on China's opening-up and reform progress on the site where the trend was first initiated," Xi recalled.

    The Third Plenary Session of the 18th CPC Central Committee, held in November 2013, unveiled an overall deployment of China's new comprehensive reforms. A leading group for overall reform headed by Xi has been established as a key measure to promote the country's comprehensive deepening of reforms.

    A series of reforms have already taken place since the landmark plenary session. The reeducation-through-labor system, which allowed detention for up to four years without an open trial, has been officially abolished. The one-child policy has been eased by allowing couples to have two children if one of them is an only child.

    Business registration rules were reformed on March 1 by lifting restrictions on minimum registered capital, payment deadlines and cash ratio of registered capital to encourage start-ups. Between March and June, about 1.27 million new companies were registered in China, representing a year-on-year growth of almost 67 percent.

    FREE MEDICAL SERVICE: A retired woman (second left) receives a free health check-up at her community in Ganzhou, Jiangxi Province, on June 9 (XINHUA)

    More reforms are in progress, such as the household registration system reform to give citizens without urban household registration equal access to public services in cities, reform on the purchase and use of government vehicles to cut hefty spending and avoid misuse of public money and the reform of cutting hefty salaries for executives of large state-owned enterprises. Meanwhile, medical reform will be expanded from 311 county-level public hospitals to more than 1,000 such institutions, covering 50 percent of Chinese counties, in 2014. The reform is aimed at improving the management of public hospitals and setting up a payroll and human resources system suited to the medical sector.

    In the economic field, China is opening the door to private investors in oil and natural gas exploration and the banking sector, areas previously closed to private capital. Private capital has also been encouraged to invest in railway construction. The price mechanisms for agricultural products, and public service products are also undergoing reform.

    CARING FOR THE LEFT BEHIND: On July 18, a college student teaches an art class in a village of Pingdingshan, Henan Province, for rural students who stay at home while their parents seek opportunities in the cities (XINHUA)

    The 'new normal' mode

    "The Chinese economy is transitioning from a stage of high-speed growth to a stage of medium-high-speed growth. In order to step into the new growth routine smoothly and quickly, it is crucial for the government to reduce risks by deepening reforms so as to achieve improved quality of the economy during the next stage," said Liu Shijin, Deputy Director of the Development Research Center of the State Council.

    During his inspection of central China's Henan Province in May, Xi said that China's economic growth must adjust itself to the requirements of a "new normal" phase.

    The relatively weak economic data since the beginning of this year were seen to be the background for Xi's remarks. In August, China's industrial output grew at its slowest pace since December 2008. Electricity production, automobile and property sales and foreign direct investment have all been weaker than expected.

    However, more than 9.7 million urban jobs were created during the first eight months of 2014, over 100,000 more compared with the same period last year. In the aforementioned timeframe, the total number of newly registered market entities was more than 8 million. From March to August, in the wake of the business registration reform, the number of new businesses grew by 61 percent over the same period of the previous year, all pointing to a massive upsurge which has generated more than 10 million jobs.

    During the first half of 2014, average disposable resident income rose 10.8 percent year on year to 10,025 yuan ($1,627) and the inflation-adjusted growth rate stood at 8.3 percent. The income gap between urban and rural residents narrowed, with actual income growth in rural China 2.7 percentage points higher than that in urban areas in the January-June period.

    A series of commentaries on "China's economy in the 'new normal'" appeared on the first page of People's Daily on August 5, 6 and 7, respectively. They said that the seemingly indomitable economic growth China experienced in the three decades since 1978 is no longer feasible, sustainable or necessary; the "new normal" China is less interested in growth rates and more interested in quality and efficiency of growth: pushing forward reform, adjusting structure and improving people's lives.

    Greater potential

    The Chinese Government has also pressed ahead with management reforms by scrapping or decentralizing administrative approval rights in an effort to improve efficiency and stem corruption.

    Li Zhangze, spokesman for the group spearheading the reforms under the State Council, said on September 10 that a total of 632 administrative approval items had been either dismissed or relegated to governments at lower levels. The Central Government aims to scrap and decentralize a further 200 administrative approval items within the year.

    "Through these efforts, the government has achieved important progress in simplifying administrative procedures and bringing about changes to management," he said.

    Addressing the Summer Davos Forum in Tianjin on September 10, Chinese Premier Li Keqiang said that instead of adopting strong economic stimulus or easing monetary policy, the Chinese Government has promoted reform and economic readjustment to maintain steady economic performance.

    "China's reform and opening-up for the past three-plus decades and beyond has in itself represented a huge innovation drive, and the huge, untapped potential of innovation and development in the future still lies in institutional reform," said Li.

    Cheng Zhenfeng, CEO of a Shanghai-based startup producing a coating that protects against the corrosion of pipes or vessels under insulation, is confident about the future. Owing to the reform of lowering registration hurdles and simplifying registration procedures for small businesses, Cheng's company, registered with subscribed capital of 3 million yuan ($487,000), was able to open to business much earlier than he had expected. Within three months, the company had incorporated advanced technologies from Germany into the mix and signed orders with several vessel manufacturers.

    "The reforms have opened the fast track for private companies to enter the market," Cheng told Xinhua News Agency.

    A fairer society

    On different occasions, Xi has stressed that the reform would be meaningless without creating a fair social environment, which could even engender more inequalities. He said that while creating more social wealth is paramount, it is equally important to ensure improvements in people's welfare.

    Premier Li also stressed recently that carrying out reforms should primarily ensure fairness by giving job seekers equal opportunities, entrepreneurs a fair environment for competition and children equal access to quality education.

    As part of "the most comprehensive" reform since China resumed the national college entrance examination in 1977, a new measure requires first-class universities to allocate a certain enrollment quota for students from poor, remote and ethnic minority regions. The new policy saw enrollment rates from rural areas grow by 11.4 percent year on year in 2014, with roughly 50,000 students from across 832 impoverished counties in 22 provinces gaining entrance to top universities.

    By the end of 2011, China's basic health insurance system had covered 1.3 billion people, or 95 percent of the population. The per-capita government subsidy for residents covered by this system has also increased steadily over the years.
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    Senior Member Red Dragon's Avatar
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    China to invest £105bn in UK infrastructure by 2025

    China will boost ageing UK infrastructure by investing £105bn into several energy, real estate and transport projects by 2025, according to a report published on Monday by law firm Pinsent Masons.

    The report reveals that nearly half of the investment (£43.5bn) will go into the UK energy sector, followed by real estate (£36bn) and transport (£19bn).

    “As the need to modernize UK’s major infrastructure gets greater by the day, the projected influx of Chinese investment into UK infrastructure is expected to be a welcome boost to the construction industry in particular and UK economy as a whole,” said Richard Laudy, head of infrastructure at Pinsent Masons.

    He argued that China is increasingly more important to the UK as a foreign investor and called the high investment a “game-changer” for the UK infrastructure.

    The report also forecasts an increase in joint ventures between UK and Chinese companies over the next decade. Existing joint ventures include London’s Royal Albert Docks development and One Nine Elms tower in London.

    “Over the coming decade, we expect a significant increase in direct investment from the Chinese coming through in the shape of joint-ventures and strategic alliances,” said Laudy.

    “Four out of five of the world's largest construction and engineering companies are now Chinese with a growing appetite for infrastructure investment and with the potential to invest vast amounts of capital in advanced economies in Europe.”

    The China Investment Corporation (CIC), China’s sovereign wealth fund, has invested in several British infrastructure companies over the past five years. Among them is a 10 percent stake in Heathrow Airport in 2012, which is valued at £453m ($730m).

    “If the UK wants to unlock Chinese investment to fill in the funding gap to modernize its aging infrastructure, the UK government will need to address issues around policy and further develop the pipeline for investment – delay and lack of clear commitment on policy will only create uncertainty for investors,” Laudy added.

    “Although, the flow of investment from China has already started – we expect this to be the beginning of a major trend as a trickle of major Chinese investment turns into a wave over the coming decade.”

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    China’s top leadership meets as country set to record lowest full-year growth in 24yr

    BEIJING: China’s top leadership will meet on Tuesday for an annual gathering to map out economic and reform plans for the following year, and some influential advisers to the government are recommending it cuts its 2015 growth target to seven percent.
    China looks set to miss its growth target this year for the first time since 1999, and full-year growth is likely to be the weakest in 24 years. The government last cut its annual growth target in 2012, to 7.5 percent from eight percent that it had kept for eight years.
    Sources said government-run think-tanks, which are influential in the decision-making process but do not wield power themselves, are planning to recommend Beijing reduce its official GDP growth target in 2015 to seven percent, down from 7.5 percent this year.
    “President Xi (Jinping) has already hinted at the growth target when he said growth of seven percent is the highest in the world,” said a senior economist at the Chinese Academy of Social Sciences (CASS), who declined to be identified.
    Attached Thumbnails Attached Thumbnails China.jpg  

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    High-powered Chinese business delegation to arrive in Sri Lanka

    June 08, Colombo: A high-powered Chinese business delegation will arrive in Sri Lanka this week to explore business opportunities in the country.

    The 48-member delegation is organized by the Beijing Lansing Century Exhibition Company in association with Lanka Exhibition and Conference Services

    The delegation's visit to the country also coincides with the Construction Expo 2015 to be held in Colombo. The delegation hopes to meet partners in Sri Lanka to expand their businesses here in the country.

    The Ceylon Chamber of Commerce will hold a business forum at the Cinnamon Grand Hotel with the participation of the visiting delegates on the 11th of June, 2015, while it would be followed by B2B meetings with the potential local partners.

    With the contacts that could be made during the B2B sessions with the delegation from China, local businesses could reap the full potential of the proposed FTA to be signed between Sri Lanka and China.

    The areas of interest of the visiting delegation is wide ranging and includes among others, agriculture, machinery, canned foods, garments, Led lights, ship building, swimwear, and tea machinery.

  11. #151
    Senior Member Red Dragon's Avatar
    Join Date
    Mar 2013
    China China

    China's GDP expands 7 pct in Q2

    BEIJING, July 15 (Xinhua) -- China's economy posted 7-percent growth year on year in the second quarter of 2015, unchanged from the first quarter, the National Bureau of Statistics (NBS) announced on Wednesday.

    The growth rate beat a median market forecast of 6.9 percent for the second quarter, as authorities cited "positive signs" in the economy.

    Second-quarter GDP grew 1.7 percent over the previous quarter, NBS data showed.

    The better-than-expected growth has come after the government's bold moves in macro-control and adherence to structural reforms as the economy plateaus, NBS spokesperson Sheng Laiyun said at a press conference.

    "Policies rolled out by central authorities to stabilize growth, boost reforms and restructuring, improve livelihoods and prevent risks have played significant roles for the economy," Sheng said.

    These measures included three cuts in both benchmark interest rates and banks' reserve requirement ratio in the first half, and the government's accelerated fiscal spending on infrastructure to shore up investment.

    With these efforts, the national economy has stayed "in the proper range" in the first half as major economic indicators gradually recovered, indicating stabilization and improvement," Sheng said, citing steady employment and price levels.

    More than seven million new jobs were created in urban areas in the first half, with a target of 10 million for the year, while inflation rose only 1.3 percent during the period.

    In the first half of the year, GDP hit 29.7 trillion yuan (4.9 trillion U.S. dollars), up 7 percent year on year, according to NBS data.

    During the same period, industrial output grew 6.3 percent year on year and fixed-asset investment climbed 11.4 percent. Property investment grew 4.6 percent, while retail sales of consumer goods rose 10.4 percent.

    Sheng added that the annual industrial output growth has accelerated since April while fixed asset investment also rebounded in the past two months, reversing a previous slowdown.

    "We think economic growth in the latter half of the year will most likely outperform that in the first half," the spokesperson said, forecasting that government pro-growth policies in the first half will have more of an effect later this year.

    Speaking during a meeting with economists and entrepreneurs on Friday,Chinese Premier Li Keqiang said China's economy still boasts "remarkable tenacity, potential and flexibility".
    The Following User Says Thank You to Red Dragon For This Useful Post: Neo

  12. #152
    Senior Member Neo's Avatar
    Join Date
    Jul 2012
    Pakistan Netherlands

    Re: China's GDP expands 7 pct in Q2

    China mulls rolling out trillion-yuan fiscal stimulus: Report

    By Asia Unhedged on September 11, 2015 in Asia Unhedged, China

    China is considering pumping more than 1 trillion yuan of fiscal stimulus into the economy over the next three years, reported Xinhua, China’s state news agency.

    kungfupandaAnywhere from 1.2 trillion yuan ($188 billion) to 1.5 trillion yuan may be taken from government coffers to replenish the capital for investment projects already approved by the authorities, according to the latest report from the China International Capital Corp. (CICC), a Chinese investment bank.

    This amount of stimulus has the potential to spark not only policy banks, but also commercial lenders and private investors, to invest 5 trillion yuan to 7 trillion yuan over the next three years. This would equal 2.5% to 3.4% of the 2015 gross domestic product.

    The world’s second-largest economy is seeing growth slow down to 7% because of a property downturn, industrial overcapacity, sluggish demand and struggling exports.

    Fiscal policy has moved to center stage in growth stabilization, as the room for monetary loosening became more constrained after several interest rate cuts and fiscal deposits continued to increase, according to the CICC.

    The move indicated that China’s fiscal policy will be “firing on all cylinders to support growth”, the CICC said.

    If this is true, Asia Unhedged believes this will be more than just a shot in the economy’s arm. However, over the tumultuous summer, China has already pumped a lot of money into the economy with little to show for it.

    Partly because the Chinese economy is huge. And, it’s still growing. But, if the pundits are right and fundamentals are truly falling, then there could be serious problems.

    There’s no doubt China is experiencing structural problems from its growth pains as it moves from an export economy to one based on domestic consumption. Japan tried this in the 90s and fell flat on its face. If the Chinese economy is truly falling to a growth rate of 6%, or even 5%, there won’t be rejoicing. The spit will be hitting the fan.

    So, we will have to wait and see what the Chinese choose to do. But, if they fail, don’t have any illusions, the rest of the world’s economy will pay the price.
    Great spirits have always found violent opposition from mediocre minds. - Albert Einstein

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