Agregador de feeds
Read Full Article at RT.com
Read Full Article at RT.com
Hang Lung Properties is counting on a HK$500 million makeover of its main retail properties in Mong Kok and Causeway Bay to boost its rental income by up to 60 per cent.
Read Full Article at RT.com
Hong Kong's stock exchange has ordered mainland solar energy firm Hanergy Thin Film Power Group to explain the unusual movement of its share price and trading volume, after a frenzied round of speculation saw the stock surge as much as 42 per cent on record trading volume.
A slight depreciation of the yuan against the US dollar is completely normal because two-way fluctuations of the Chinese currency have become a "new normal", or a common situation today, said Yi Gang, deputy governor of the central bank on Thursday.
The yuan has waved goodbye to 10 years' of continuous appreciation against the dollar and is getting very close to a balance. The exchange rate has become more flexible and market-oriented, said Yi, who is also a member of the National Committee of the Chinese People’s Political Consultative Conference.
China widened the yuan's trading band against the dollar from 1 to 2 percent in March last year. He indicated that the central bank is in no hurry to further widen the band.
The country's economic fundamentals are positive and its cross-border capital inflows and outflows remain healthy in general, he said.
Last year, more than 100 million Chinese tourists traveled overseas. The flows of people, commodities and investment led to two-way cross-border capital flows.
In terms of the internationalization of the yuan, he said: "It is a natural market process and a choice of market entities out of their own interest. Neither the central bank nor the administration has used administrative power to promote the internationalization of the yuan. The market will choose whether to speed up the process or not".
Contact the writer at email@example.com
BEIJING -- China will further encourage projects that export Chinese industrial capacity and equipment under a "win-win" principle, an official with the country's top economic planner said on Thursday.
Xu Shaoshi, director of the National Development and Reform Commission, said China has plenty of industrial capacity with comparative edges, but it is not fully utilized.
On the other hand, there is a huge amount of demand in some overseas countries, Xu said.
China and its foreign partners should strengthen pragmatic cooperation under the principle of achieving win-win and mutually beneficial results, Xu stressed.
Chinese companies have undertaken a number of railway projects in Africa and Latin America, the latest example being a 1,344-km railroad spanning the African country of Angola that was put into operation in February.
According to Yu Weiping, vice president of the big-shot high-speed railway manufacturer China North Railway, overseas deals signed by his company and China South Railway exceeded $3 billion in 2014, respectively, an increase of more than 60 percent from the previous year.
In a government work report delivered by Premier Li Keqiang at the opening of the annual parliamentary session Thursday, Li said China will promote industries such as railways, power, telecom, machinery, automobile, airplane and electronics to "go abroad."
BEIJING -- The Chinese economy is confronted with more difficulties than anticipated in 2014, but it has scored more achievements than expected, said Xu Shaoshi, minister in charge of the National Development and Reform Commission, China's top economic planner.
China targets its growth of approximately 7 percent in 2015, lower than the goal of around 7.5 percent in 2014, according to a government work report Thursday delivered by Premier Li Keqiang at the parliament's annual session. The target is also lower than the 7.4-percent economic growth rate registered in 2014, its weakest annual expansion since 1990.
When asked the possibility of a hard landing of the Chinese economy at a press conference Thursday, Xu said the economy grew steadily last year, the price growth slowed and the employment situation remained stable.
China's consumer price index (CPI), a main gauge of inflation pressure, rose 2 percent in 2014 year on year, lower than the government-set target of around 3.5 percent. The world's second largest economy created 13.22 million urban jobs last year.
"Moreover, China has made new breakthroughs on reform and opening-up and further invigorated the market through efforts like reforms in the business system, further streamlining administration and delegating more powers to lower-level governments and to society," he said.
China has also made progress in its economic restructuring, said Xu, citing figures that the added value from the tertiary sector accounted for 48.2 percent of gross domestic product (GDP) in 2014 and China's energy intensity dropped by 4.8 percent last year.
People's living standards have also been improved as per capita disposable income of all Chinese residents rose 8 percent last year, he said.
"The Chinese economy is performing within an appropriate range with better growth quality, and the 7.4-percent growth rate last year is in line with our expectations and has placed the Chinese economy among the top in the world in terms of growth speed," he stressed.
Revenue generated by the Chinese online video market reached 23.97 billion yuan ($3.82 billion) in 2014, increasing 76.4 percent from a year earlier and helped by the sale of self-produced content rights, according to technology consulting firm iResearch.The fast growth of last year's revenues was mainly driven by the sales rights of self-produced content to broadcasters rather than profits generated from advertising, the consulting firm said.
From the beginning of 2014, the majority of China's online video enterprises increased investment in self-produced content and announced deals with broadcasters for the sale of content rights. To reflect this, in July last year, online video site iQiyi sold its self-produced sci-fi romance series Qiyi Jiating to Jiangxi Satellite TV channel.
For 2015, online video companies are expected to continue expanding their business to include more movie and series production in their agendas, which will help them consolidate their brands and diversify their profit pattern.
Self-produced content by online video companies presents many advantages such as low production costs, high profits and easier marketing. Additionally, the production of their own content helps these enterprises build a brand image and gain loyalty from the audience.
"Self-produced content will be the future of China's main video enterprises. We expect companies like LeTV and its partner company, Le Vision Pictures to invest more in film production and co-produce more films in 2015", said iResearch.
In terms of advertising, mobile video was the main source of revenue in this area, supported by the growing number of mobile Internet users in the country. And for some online video enterprises, mobile advertising revenue accounted for 20 percent of their total sales, according to iResearch.
Meanwhile, mergers in the industry accelerated in the sector in the last two years. For the coming year, there is more merger potential with the rapid development of the online video industry, noted iResearch.
The strong prospects for the entertainment industry in China have triggered an acquisition rush in the sector. China's largest conglomerates, such as Internet giant Alibaba and real estate behemoth Wanda, have also invested in entertainment production companies as the industry takes off.
MEXICO CITY -- As traditional international capital investments turned their backs on Latin America, Chinese finance has become a new drive to the mired economies in the continent, with loans surpassing the combined total of the World Bank and the Inter-American Development Bank.
Chinese lending to Latin America increased over 70 percent to $22 billion in 2014, and many of these loans were announced during Chinese President Xi Jinpin's July 2014 trip to the region, according to the latest report by a Washington-based think tank.
Chinese banks continue to finance a different set of countries than the World Bank, the Inter-American Development Bank, and North American and European banks.
Argentina, Brazil, Ecuador and Venezuela, which are not able to borrow as easily in global capital markets, were the focus of Chinese lending in Latin America again in 2014, the report said.
"What is more, Chinese finance comes with few strings attached, " Kevin Gallagher, author of the report, said in his blog article.
China has avoided meddling in the domestic policy of those countries, which is an attractive feature for many Latin America governments, he said.
The China-CELAC (the Community of Latin American and Caribbean States) forum ministerial meeting was held in Beijing on Jan 8-9, defining key areas and specific measures for the overall cooperation from 2015 to 2019 between the two sides.
According to the plans, China will invest at least $250 billion and both sides will strive to achieve a trade volume of $500 billion within a decade.
Since 2005, China has provided more than 119 billion dollars in loan commitments to Latin American countries and firms, the report said.
Under the downward pressure of the world economy, the International Monetary Fund (IMF) estimates that Latin America's economic growth may only reach 2.2 percent in 2015.
This region looks to expand trade with China to diversify exports and increase mutual investment.
In February, Argentine President Cristina Fernandez visited China and signed a series of trade and investment deals, including 6.8-billion-dollar loans from China for the railway and hydropower projects.
China has become an important engine for the world economy, said the Argentine president.
As the second largest economy in the world, China has become one of the most important economic partners to Latin American economies, the largest trading partner to Brazil, the second largest to Argentina.
Trade volume between China and Latin America reached 261.6 billion dollars in 2013, 20 times the amount in 2000.
BEIJING -- China's confidence in achieving its economic growth rate of around 7 percent this year is not weakened despite rising downward pressure, a senior official said Thursday.
The economic development has entered "new normal" and economic fundamentals are improving, said Xu Shaoshi, head of the National Development and Reform Commission, China's top economic planning body, at a press conference.
The growth rate has turned down, but it is not in the mode of free fall, he told the press conference.
He noted that overseas demand was unlikely to improve and there remained potential risks in property market, financing, fiscal and enterprises, but there is still big room for measures of macro-management.
The government has strengthened macro-management including cutting the benchmark interest rates, reducing taxes and fees as well as intensifying investment, he said.
Some composite leading indicators are slightly rebounding although they stood at low levels in January, he said. "The rising market expectation will obviously have positive impact on economic development."
The manufacturing purchasing managers' index (PMI) in February registered at 49.9, up from 49.8 the previous month. The export leading index stood at 39.6 percent in February, one percentage point higher than that of January.
"The difficulties we are facing this year are not small, but we also have lots of advantages," he said.
Emerging industries are developing well and enterprises' capacities to withstand risks are also rising, he said.
In overall situation, the comprehensive deepening of reform is releasing great vitality of the market economy and inner driving force. The comprehensive rule of law is providing institutional guarantee for the reform and development, he said.
BEIJING -- One of China's top economic planners said here Thursday that China's recent regulatory measures on the Internet are in line with international practices.
"Development of the Internet requires regulation," Xu Shaoshi, minister in charge of the National Development and Reform Commission, said at a press conference on the sidelines of the ongoing National People's Congress annual session.
Xu advocated a fair and orderly development of the Internet in China, which has the world's largest netizen population of 649 million.
Xu's comments came one day after China justified the drafting of its first counter-terrorism law, which was criticized by US President Barack Obama, who claimed that one of the articles of the draft law requires the technology firms in China to hand over encryption keys, the passcodes that protect data.
Beijing has slammed Obama's accusation, saying that domestic legislation is something within one country's sovereignty.
Xu said he was not worried that China's Internet regulation will affect any law-abiding companies.
"We will better regulate the Internet and support its development in China," he said.
BEIJING -- China's top economic planner said Thursday that China will not introduce strong stimulus measures to prop economy.
Xu Shaoshi, minister in charge of the National Development and Reform Commission, made the comments hours after Chinese Premier Li Keqiang announced to lower China's economic growth target to around 7 percent in 2015.
Xu, however, underlined importance of investment, which he believes continues playing a key role in promoting Chinese economy.