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Maruti Suzuki India September sales up 4.6%

The Times of India - 37 minutos 36 segundos atrás
Maruti Suzuki India reported 4.6 per cent increase in its total sales in September 2014 at 1,09,742 units as against 1,04,964 units in the same month previous year.






Categorias: India

UNCTAD chief hails China's vital status in global economy

China Daily - 54 minutos 40 segundos atrás

GENEVA - The chief of the United Nations Conference on Trade and Development (UNCTAD) commended the vital status of China in global economy in a written interview with Xinhua in the advent of China's National Day.

Mukhisa Kituyi, Secretary General of UNCTAD, hailed the importance of China in making Asia as the most dynamic region of today's world economy, and commended the crucial role played by China in helping cut world poverty.

The senior official said that in addition to transforming its economic structure, China also harnessed foreign investment and capital to integrate into the world economy.

"Through this process it has developed its productive capacities, and engaged in continuous technological upgrading to move up the global value chain and diversify its exports," said Kituyi.

He noted that China's demand for inputs has made it a strong market for primary commodities from developing countries, and it has also played a key role assembling manufactured goods of higher technological sophistication using inputs produced in developed countries.

"The growing importance of China's domestic demand to its growth -- with some tentative signs of an increasing role for private and public consumption -- reminds us that China continues to transform its economy," Kituyi added. "This opens up further opportunities for other developing countries to try and emulate China's success, which has also led it to become a strong source of outward foreign investment itself."

The UN organ head said UNCTAD was making efforts to deepen cooperation with China to enable closer "south-south" exchanges of knowledge and expertise between China and other developing countries, in particular the Least Developed Countries.

"In many ways, China's rise can provide valuable lessons for other developing countries, both on how to achieve a successful development strategy, but also on how to confront the challenges that may come along with success," he said.

Kituyi commended the steps that China is taking to ensure that the future global development agenda is economically, socially and environmentally sustainable.

"China will play an indispensable role in helping the world economy transition to a more sustainable pattern of low-carbon growth, and in helping end extreme poverty everywhere," said Kituyi.

Improved quality 'key to growth'  Chinese economy takes 12.3% of world total in 2013

 

 

 

Categorias: , China

China lowers down payment requirement for second homes

China Daily - 54 minutos 40 segundos atrás

BEIJING - Chinese home buyers will face lower down payments on second homes as banks and regulators look to boost the sagging property market.

Chinese citizens who wish to buy a second home will enjoy the same 30 percent down payment required of first-time home buyers if they have fully repaid their mortgage loans, the People's Bank of China (PBOC), the central bank, and the China Banking Regulatory Commission (CBRC) said in a joint-announcement Tuesday.

Prior to the announcement, second home buyers were required to place at least 60 percent down payment. Property price to rise for another 3 to 5 years   Home sales in Beijing decline by almost half

The easing of down payments for second homes marks a turning point in the nation's restrictive home purchasing policies.

Several years ago, sky-rocketing home prices forced the government to roll out restrictive measures, such as requiring higher down payments and increasing the lending rate for second home purchases, as well as banning the purchase of a third home.

Tuesday's announcement did not specify when the new rule will take effect, but 0some cities, including Fuzhou, Hangzhou, and Nanjing have already started launching such measures.

The PBOC and the CBRC also said they will require their branches in local regions to outline supportive home loan measures based on local government requirements.

The nation's four big state-owned banks, including the Industrial and Commercial Bank of China and China Construction Bank, have all issued statements indicating stronger home loan support for both first home and second home buyers.

According to the announcement, first home buyers will have access to a maximum 30 percent discount on home loan rates offered by banks, while the minimum down payment remains at 30 percent.

In cities that have scrapped the ban for the purchase of a third home or those without such restrictive measure in place, for people in possession of at least two homes, without mortgage loans, and wishing to buy more, banks are free in deciding upon the down payment requirement as well as the loan rates based on borrowers' debt repayment capabilities and credit, according to the announcement.

A total of 46 Chinese cities had imposed bans on the purchase of a third home in efforts to curb speculation. Currently, only the five cities of Beijing, Shanghai, Guangzhou, Shenzhen and Sanya still keep the ban.

According to the announcement, migrants in the country will also have access to home loans from banks if they plan to settle down in a certain regions, on condition that they meet specific requirements of different regions.

Financial institutions will be encouraged to issue mortgage-backed securities and long-term specialized financial bonds to raise the capital that will facilitate home loans granting to both first-time home buyers and those who wish to buy bigger homes in order to improve their lifestyles, according to the announcement.

The new rule is believed to shore up a sluggish real estate market that had extended a cooling trend in August as more cities reported month-on-month price drops. Government data showed out of 70 major Chinese cities, new homes in 68 saw month-on-month price declines in August, compared with 64 in July.

Hangzhou, the provincial capital of Zhejiang, saw new home prices drop the most of the 70 cities surveyed, down by 2.1 percent from July. New home prices in Beijing and Shanghai dropped by 1.2 percent and 1.3 percent month on month, respectively, the data showed.

 

 

Categorias: , China

China to offer better jobs, life to migrant workers

China Daily - 54 minutos 40 segundos atrás

BEIJING - The Chinese central government hopes to offer more quality jobs to migrant workers to help ease them into urban living.

To do so, the State Council hopes to provide professional training to 20 million surplus rural labor workers per year until 2020. The goal is to boost work conditions, ensure pay schedules and make sure they are covered by social security, said a policy guideline published by the State Council Tuesday.

At the end of June, China had 174 million migrants working outside their area of residence, official data showed.

The cabinet will also work to help about 100 million migrant workers in central and western China to be "urbanized" locally, and help about 100 million people nationwide without urban ID records to settle in towns and cities by 2020, according to a statement.

Migrant workers will be given training with some focus on the service sector and offered favorable policies to start their own business.

According to the guideline, migrant workers will enjoy the same treatment as urban residents in terms of social security.

By 2020, migrant workers and families will also enjoy equal access to basic public services in cities, including education, community hospitals and public housing.

The State Council didn't go into specific detail as how to achieve the goals.

China enhances vocational training of migrant workers Migrant workers to share public rental housing 

 

 

 

Categorias: , China

Volvo recalls faulty cars in China

China Daily - 54 minutos 40 segundos atrás

The Volvo badge is seen on Aug 3, 2013. [Hao Yan / chinadaily.com.cn]

BEIJING - Volvo began its recall of 569 units of its V40 model over software flaws on Tuesday, the country's quality watchdog said in a statement.

The left rear position light in the affected vehicles may stop functioning due to software failure, said the statement issued by the General Administration of Quality Supervision, Inspection and Quarantine.

The affected vehicles were manufactured between Nov 25, 2013 and March 10, 2014.

The company will update the vehicles' software for customers free of charge, according to the statement.

Volvo Group reports Q1 growth in mature economies, China  Volvo goes upscale for wealthy buyers 

 

 

Categorias: , China

China Sept manufacturing activity continues expanding: NBS

China Daily - 54 minutos 40 segundos atrás

BEIJING - Chinese manufacturing business activity continued to expand in September while manufacturers' operating conditions saw no improvement against the previous month amid subdued growth momentum, official data showed on Wednesday.

The manufacturing purchasing manager's index (PMI), a key measure of factory activity in China, posted at 51.1 in September, unchanged from August's reading, according to the data released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing.

A reading above 50 indicates expansion, while a reading below 50 represents contraction.

 China final HSBC PMI steady in Sept but risks remain  China Sept factory activity edges up on stronger orders

 

 

Categorias: , China

Disney's Frozen still heating up holiday toy lists

China Daily - 54 minutos 40 segundos atrás

Two toys based on Walt Disney Co's hit animated film made it onto Adventure Publishing Group's Toy Insider Hot 20 list released Tuesday, making Disney the only entertainment company with multiple items on the roster.

Disney and its licensees had seven items on the list, a selection of toys that Adventure's experts believe will top kids' wish lists during the holiday season.

Disney's movie about a princess with magical powers was released on Thanksgiving last year and racked up more than $1 billion in global ticket sales, making it the fifth-highest grossing film of all time. $800m more to be invested in Shanghai Disney park  Disney looks to tap Chinese spending power

The success caught toymakers by surprise, resulting in a dearth of related merchandise and creating a secondary market that saw Frozen dresses selling for more than $1,000 online. This holiday season, Disney and its licensees are better prepared, with plenty of inventory and products to satisfy fans.

"It's going to be a frozen Christmas, ice-cold," said Laurie Schacht, president of Adventure Publishing, which produces toy-industry magazines. "The appeal is so broad, and it's such a wonderful story that parents are happy to put merchandise like this in their kids' hands."

The Frozen-themed items on this year's list are a singing, moving doll of the movie's protagonist, Elsa, as well as the Cool Tunes Sing-Along Boombox - a karaoke machine for the film's best-selling soundtrack. Both items retail for about $35.

Disney, the world's largest entertainment company, dominated the list with items from its in-house properties or from licensees. Among them were a Marvel character version of Disney Infinity, which combines action figures and video-game play, and a wheeled medical kit based on the Doc McStuffins cartoon.

Other top toy lists also are being released this time of year by retailers that include Wal-Mart Stores Inc and Toys R Us Inc, which said Tuesday it will add 45,000 seasonal employees, the same as last year. While their selections often overlap with independent lists like the Toy Insider's, the retailers tend to have more items from the industry's major manufacturers, such as Mattel Inc and Hasbro Inc.

Mattel, the world's largest toymaker, had two toys on the Toy Insider's list, and Hasbro had one. Lego A/S also had a lone item: a construction set based on Star Wars, another Disney property.

Because technology has become such a big part of the toy industry, Toy Insider created a separate list for gadgets, which includes smartwatches from VTech Holdings Ltd and LeapFrog Enterprises Inc aimed at kids 4 years and older.

 

Categorias: , China

Measures to boost imports serve China's restructuring: analysts

China Daily - 54 minutos 40 segundos atrás

BEIJING - The latest measures aimed at boosting imports of advanced technology and retail goods have come at the right time and should help China as it restructures its economy, analysts say.

On Monday, the State Council, or China's cabinet, announced a spate of measures target balancing China's foreign trade, meeting domestic demand, promoting innovation and upgrading the economic structure.

The announcement came as China's imports posted year-on-year declines for two consecutive months in July and August, heightening concerns over subdued growth momentum in the world's second largest economy.

Due to contracting imports, the monthly trade surplus in August reached an all-time high of $49.8 billion, up 77.8 percent from a year earlier, customs data showed.

"The trend of foreign trade in recent months, which features an expanding trade surplus, is unbalanced and unsustainable," said Liu Xuezhi, a financial analyst with the Bank of Communications. He said the measures required to change this came just as they were needed.

Liu said that a declining import volume causes pressure on China's trade balance as well as the balance of international payments, putting upward pressure on the yuan.

At a press conference earlier this month, the Ministry of Commerce spokesman Shen Danyang clarified China is not pursuing a trade surplus. Instead, the country aims at balanced development of trade, giving the same weight to export expansion as import expansion.

In May, the cabinet already drew up a guideline to stabilize foreign trade growth. Monday's measures offered more details, vowing to encourage imports of high-tech equipment and parts, as well as services on research, design, energy saving and environmental protection.

Wang Jun, analyst with the China Center for International Economic Exchanges, said this round of policy is more targeted and compliments the need to upgrade domestic industries, as China shifts away from over-reliance on investment and external demand to an innovation-driven economy.

At the time of the announcement, the cabinet said imports of resources will stay stable and imports of general consumer goods like beef, mutton and aquatic products will be increased reasonably.

Analysts believe these measures will tap the country's vast consumer goods market, as retail goods only accounted for 5 percent of China's total imports, far below the world's average of about 20 percent.

China will continue to facilitate imports by simplifying administrative procedures and establishing trade platforms, including e-commerce, according to Monday's statement.

Liu Xuezhi points out the fundamental way to improve imports will depend on the recovery of demand.

Given the weak commodities prices on the international market, it will be difficult to see an obvious rally of imports in the near future, Liu said, stressing the urgency to deepen reform and seek internal growth.

 Top 8 expenses during the National Day holiday Undersea restaurant opens in Sanya

 

Categorias: , China

Entrepreneur bets on horse success

China Daily - 54 minutos 40 segundos atrás

 

 

Categorias: , China

BMW to recall flawed vehicles in China

China Daily - 54 minutos 40 segundos atrás

A BMW logo is pictured before the annual news conference of German premium automaker BMW in Munich March 19, 2014. [Photo / Agencies]


BEIJING - BMW China and BMW Brilliance Automotive will recall 134,180 vehicles from Oct 30 due to fuel leak problems, China's quality watchdog said on Tuesday.

Of the total, 68,090 vehicles imported by BMW China will be recalled. They are BMW 5, 6 series and X5, X6 models, produced between March in 2007 and June in 2011.

It will also involve 66,090 units of BMW 5 series produced by BMW Brilliance between March in 2010 and October in 2011.

The vehicles contain flawed fuel pumps, which may break and cause fuel leaks.

The companies will replace faulty fuel pumps for customers free of charge, said the notice released by the General Administration of Quality Supervision, Inspection and Quarantine.  

BMW's latest models start e-mobility revolution  BMW rolls out fifth-generation M series 

 

 

Categorias: , China

CowParade arrives in Shanghai

China Daily - 54 minutos 40 segundos atrás

CowParade is an international public art exhibit that has been featured in major world cities.

Fiberglass sculptures of cows are decorated by local artists, and distributed over the city center, in public places such as train stations, important avenues, and parks.

After visiting 79 cities around the world over the past 15 years, the CowParade event is taking place in Shanghai, with the city hosting the show for around a year from Sept 25 2014, during which time more than 500 cow artworks are expected to be created and displayed in public spaces such as the Bund, Lujiazui and People's Square.

Celebrities, artists and members of the public will have the chance to submit their designs and paint on the bodies of the cows.

Decorated sculpture of a cow is displayed during the 2014 CowParade Shanghai in the Bund, Shanghai, China, Sept 29 2014. [Photo/IC]

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Visitor looks at a decorated sculpture of a cow during the 2014 CowParade Shanghai in the Bund, Shanghai, China, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Visitor touches a decorated sculpture of a cow during the 2014 CowParade Shanghai in the Bund, Shanghai, China, Sept 29 2014. [Photo/IC]

 

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Decorated cow sculptures are displayed during the 2014 CowParade Shanghai in the Bund, Shanghai, China, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Decorated sculpture of a cow is displayed during the 2014 CowParade Shanghai in the Bund, Shanghai, China, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Visitor looks at a decorated sculpture of a cow during the 2014 CowParade Shanghai in the Bund, Shanghai, China, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Decorated cow sculptures are displayed during the 2014 CowParade Shanghai in the Bund, Shanghai, China, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Decorated cow sculptures are displayed during the 2014 CowParade Shanghai in the Bund, Shanghai, China, Sept 29 2014. [Photo/IC] 

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

 

Categorias: , China

Reed sets up JV (Reed K.Fairs Ltd) to house Kormarine

China Daily - 54 minutos 40 segundos atrás

Reed Intends to Move Full Speed Ahead into Korean Market

Reed Exhibitions, the world's leading exhibition organizer, is proud to announce its entry into the South Korean maritime market. By joining forces with event leader K.Fairs Ltd., an established and highly regarded trade fair organizer in Korea, Reed's newest partnership will make its debut via Kormarine, Korea's largest international maritime industry event that has attracted over 1,000 exhibiting companies and 40,000 visitors from over 70 countries. Kormarine is poised to continue to lead the Asian and global market by serving core maritime interests.

Mike Rusbridge, Chairman and CEO of Reed Exhibitions says, "As the third largest economy in Asia, we recognize that Korea houses huge market potential. Kormarine is Reed's debut into the nation's burgeoning maritime industry. Reed is optimistic we will rapidly expand our Korean presence even further in future."

Kormarine is a significant plank to Reed's growing list of maritime industry events. "Kormarineis the biggest maritime event in Reed's portfolio, further strengthening our presence in Asia's maritime industry, namely Asia Pacific Maritime in Singapore, Indonesia Maritime Expo (IME) in Indonesia, and Mainland China's Oceanology International."says Paul Beh, Reed Exhibitions Asia Pacific President.

"This event marks the successful combination of the best elements of two established players: Reed Exhibitions and K. Fairs. We are delighted to be so well placed to deliver an even more compelling market-leading exhibition in 2015. Komarine will definitely be the premier event for the Maritime industry not only in Korea but the rest of the world" says CEO of K. Fairs, SK Hong, who was recently conferred the Order of Industrial Service Merit Award by the Korean government.

Kormarine, an international marine exhibition located in South Korea's largest port city of Busan, has held successful editions since 1978 and continues to lead the Asian market by serving core maritime interests – boats, ships and ferries, together with industry developments ranging from the latest in engine, deck and fishing equipment, accessories and technologies. Visitors can additionally learn about the most recent breakthroughs and developments in electronic, security, communication, propulsion and navigation systems.

Similar to Reed's approach and commitment to exceed event expectations, the highly successful Kormarine event goes beyond the limits of show floor exhibits by offering informative seminars and workshops with a keen focus on hot industry topics, alongside vital social platforms benefiting all points of the market chain. It is clear that the new Reed-K. Fairs partnership, with combined extensive networks, years of experience and exclusive face-to-face communication platforms, will extend the industry's reach and continually provide a major one-stop solution as the essential go-to networking maritime industry event in Asia and beyond.

Reed Exhibitions and its newest partner K. Fairs look forward to the next Kormarine edition scheduled to take place October 20th – 23rd 2015 in Busan, Korea.

Categorias: , China

China eases home purchase restriction

China Daily - 54 minutos 40 segundos atrás

Potential homebuyers visit a housing expo in Zhengzhou, Henan province. Of the 46 cities that had restrictions on home purchases, only six — including Beijing, Shanghai, Guangzhou and Shenzhen — maintain those curbs. [Provided to China Daily]

BEIJING - China's central bank announced on Tuesday that buyers of a second home will be able to enjoy a lower down payment as first-time home buyers, in the country's latest effort to meet the reasonable demand for home loans amid a cooling property market.

Chinese citizens who wish to buy a second home, will be able to enjoy the same 30 percent down payment requirement as first-time home buyers if they have fully repaid their previous mortgage loans, according to the announcement jointly made by the People's Bank of China and the China Banking Regulatory Commission.

Prior to the announcement, purchase of a second home in Chinese cities will require buyers to place at least a 60 percent down payment.

 Realty market needs to regain its lost luster  Chinese home prices remain under pressure

Categorias: , China

China Eastern Airlines to open New Zealand direct flights

China Daily - 54 minutos 40 segundos atrás

New Zealand has become one of the favorite destinations for Chinese tourists.[Photo/IC]


WELLINGTON - China Eastern Airlines is to start a daily direct service between Auckland and Shanghai over the southern summer, the airline and Auckland Airport said Tuesday.

Starting on Dec 9, the service will initially operate four flights per week, rising to seven flights a week from January to March 28 next year, subject to regulatory approval.

The service would add an extra 47,000 seats on the route, contributing an estimated NZ$54 million ($42.05 million) to the New Zealand economy over the peak New Zealand period, Charles Spillane, Auckland Airport acting general manager aeronautical commercial, said in a statement.

"When we look at the year ending June 2014, we saw almost 36, 000 visitors arriving from Shanghai, an increase of 20 percent when compared to the same period the year before," said Spillane.

The service would compete with Air New Zealand, which offers the only other direct service on the Auckland-Shanghai route.

Kathy Zhang, China Eastern Airlines general manager Oceania, said the carrier had seen great demand when it operated two charter flights on the Shanghai-Auckland route during the 2014 Chinese New Year.

"That success has played a crucial role in our decision to offer this new seasonal operation. New Zealand is one of the most popular destinations for Chinese travelers and we are confident we will experience strong demand for our new service," Zhang said.

China is New Zealand's second largest tourist market after Australia.

Buses with classic look come into use in Beijing Top 8 expenses during the National Day holiday

Categorias: , China

Formula approval bolsters China prospects for New Zealand's Synlait Milk

China Daily - 54 minutos 40 segundos atrás

WELLINGTON - New Zealand dairy processor Synlait Milk said Tuesday that it has received official Chinese approval to make retail-ready infant formula for export to China.

Synlait Milk managing director John Penno said the approval from the Certification and Accredition Administration would add to its existing Chinese registration as a manufacturer of general dairy products and infant formula base powders.

The company, which is 39-percent owned by China's Bright Dairy, said earlier this month that it was pursuing a 25 percent stake in Sichuan New Hope Nutritional Foods Co Ltd to create an integrated supply chain from manufacturing to distribution and sale in China.

"Being able to manufacture and export high quality finished infant formula products to China will help Synlait Milk deliver on its value added strategy, and provides an important confidence boost for our China business where we see significant opportunity for future earnings," Penno said in a statement.

Synlait Milk's application for registration was sent to the Chinese regulatory authority following the approval of its risk management program by New Zealand's Ministry for Primary Industries for its dry blending and consumer packaging plant.

Its state-of-the-art drying blending and packaging plant had a processing capacity of 30,000 tons a year, or up to 110 cans per minute.

Consumers slightly more confident in milk products: survey Top 10 dairy companies in the world 

Categorias: , China

Xbox One hit store floor in China

China Daily - 54 minutos 40 segundos atrás

Categorias: , China

Xbox One hit store floor in China

China Daily - 54 minutos 40 segundos atrás

Microsoft launched the Chinese version of its Xbox One gaming console across 37 cities in China on Monday (Sept 29 2014). Consumers are able to buy the console and accessories in over 4,000 outlets.

The new model, launched in partnership with Chinese Internet television company BesTV, costs 3,699 yuan ($601) without the Kinect motion detection system and 4,299 yuan with Kinect, according to Microsoft.

The debut of the console coincides with the anniversary of the launch of the China (Shanghai) Pilot Free Trade Zone (FTZ), and that of a joint venture in the FTZ between Microsoft and BesTV.

With the joint venture, Microsoft has been allowed to manufacture and sell the Xbox in China along with its Chinese partner, marking China's repeal of a ban for foreign firms manufacturing consoles for sale in the country.

The Chinese version Xbox One on display in a Suning home appliances store in Shanghai, Sept 29 2014. [Photo/IC]

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Xbox One console on display at a Suning home appliances store in Shanghai, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Customer plays video games on an XBOX One game console at a Suning home appliances store in Shanghai, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Customer plays video games on an XBOX One game console at a Suning home appliances store in Shanghai, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Customer plays video games on an XBOX One game console at a Suning home appliances store in Shanghai, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Customer plays video games on an XBOX One game console at a Suning home appliances store in Shanghai, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Customer plays video games using on an XBOX One game console at a Suning home appliances store in Shanghai, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Games on display at a Suning home appliances store in Shanghai, Sept 29 2014. [Photo/IC]

Garbage chokes Three Gorges Reservoir  China's sportswear market rebounds  Jewelry stores try many stunts to promote gold 

Categorias: , China

Industrial diamonds help Zhecheng sparkle

China Daily - 54 minutos 40 segundos atrás

 

Zhecheng county in Henan province is one of the hubs for the production of industrial diamond products in China.

Area transformed into successful industrial zone

Zhecheng county, in the eastern part of Henan province, is home to one of China's hubs for diamond powder production.

In the 1980s the diamond powder business was dominated by family mills.

"Later some people got rich and set up companies, some left the county to work in large corporations to learn skills and technologies. This laid good foundations for the development of Zhecheng's diamond powder industry," said Liang Hui, Party chief of the county.

  China's diamond trade rebounds in 2013     Wuzhou's gem industry honed by time    Industrial diamond products are the major business in Zhecheng County Industrial Zone, which is recognized as one of the most competitive development zones in Henan province.

According to Li Ping, director of the county's publicity department, the Zhecheng industrial zone has two major parks covering extremely hard materials and medical products industries.

The Party chief said that in order to develop a full-fledged industrial cluster, the government invested more than 3 billion yuan ($489.1 million) in infrastructure and set up special teams to support and mentor companies.

In the zone, major infrastructure facilities include service centers, a sewage treatment plant, a training center for employees, a diamond testing center and dormitories.

There are 139 companies in the area and 59 are specialized in extremely hard materials, said Liang.

"The focus on diamond products is an advantage. The area has been transformed from a site for small family workshops into an industrial zone with recognized achievements in innovation and technology," he said.

The government set up a 20 million-yuan "innovation fund" to encourage companies to work on research, development and introduce new technologies, said the Party chief.

There are also a range of cooperation projects with university and research institutions including 16 education and R&D centers.

The area is home to a number of high-tech companies, two provincial laboratories and one provincial-level incubator.

 

A huge cutting wheel made from extremely hard materials produced in Zhecheng can be used for the production of various kinds of metals.

Local businesses hold 83 certificates of national-level independent intellectual rights and nine patents of invention, according to the county government.

Liang said that the industrial zone's products were no longer low-end ones like grinding materials and tools, but were high-end products used in aviation, automobiles and high-speed trains.

High-quality human resources and the government's talent recruitment programs have also contributed to the zone's success.

  China's diamond trade rebounds in 2013     Wuzhou's gem industry honed by time    Wang Laifu, general manager of Huifeng Diamond Technology Co, said several years ago his company was very small and completed processing work for customers. "We kept introducing talented people and new technologies. Today, we have six national patents and several leading technologies in the world," he said.

County publicity department head Li said that with a range of talent recruitment programs, the zone recruited eight specialists with PhD degrees, more than 80 professionals with master degrees and 220 excellent technicians.

Party chief Liang said to further develop the diamond powder industry in Zhecheng and promote it around the country, the government organized promotion events in Guangdong and Jiangsu provinces.

The government also offered companies connections and opportunities to attend expos abroad, Liang added.

The industrial cluster has become an economic engine in the county, said Liang.

It generated 20.1 billion yuan in revenue last year and paid taxes totaling 203 million yuan.

"The development of the industrial zone has also contributed to the local job market. People there can find a job easily without leaving their hometown. And the pay is good," said Liang.

He said pollution treatment would be important for the future of the industrial zone.

"I believe that a flourishing industrial zone must be a sustainable one. There should be no pollution. We have a regulation that says companies that might cause severe pollution are not allowed to settle down. If there is some pollution, it must be under the limit set by the national standard," Liang said.

Categorias: , China

Refrigeration hub comes out of the cold

China Daily - 54 minutos 40 segundos atrás

Home to more than 80 refrigeration companies, the Minquan High-tech Zone is called "China's Cool Valley". Photos provided to China Daily

Minquan county, in Henan province, used to be an impoverished agricultural region with a large population and weak industrial foundations. Today it is a major player in China's refrigeration industry.

Nicknamed "China's Cool Valley", Minquan High-tech Zone features industries including machinery manufacturing, wine processing and its major business- refrigeration.

More than 80 refrigeration companies are in the zone and nearly half of the refrigeration trucks used in the country are produced in Minquan.

Ji Maichang, Party chief of Minquan and the head of the county government, said the area's refrigeration industry has gone through ups and downs.

Ji said in the 1980s, there were two big companies in the county - Minquan Winery and Bingxiong Group. Bingxiong, which means cold bear in Chinese, was the most famous refrigeration company in the county.

"Later the country's economy went through some changes and Bingxiong was shut down. But the dream for the refrigeration industry never faded away. We waited and prepared for the moment when it could start again," said Ji.

Former employees of Bingxiong found work at other refrigeration companies across the country and with the rise of living standards, refrigerators became a necessity.

"We asked the technicians and employees of Bingxiong to return to join the project of reviving Minquan's refrigeration industry," said Ji.

Today the industry is flourishing in the area and has attracted many investors.

 Industrial diamonds help Zhecheng sparkle Tour by train with your cars during National Day holiday 

 

Workers assemble refrigerators at the Bingxiong plant. Bingxiong is the oldest refrigerator brand in Minquan.

Ji said government officials and staff members carry out promotion programs for the companies across the country.

The district has also introduced household electronic appliances related to refrigeration to form an industrial chain.

Ji said to attract investment the local government offered convenient services to investors.

The government set up special work teams to cover all the services that the projects need to move to Minquan High-tech Zone. The team also continues to help companies after they become operational.

Another appeal of the zone is that the refrigeration school of the Chinese Academy of Sciences set up a branch in the zone, according to Ji. Industry experts and scholars offer guidance and contribute to R&D in the zone.

There is also a refrigeration-testing center, which is the only one in the province and the fourth in the nation. The center has a set of locally developed standards to ensure product quality.

"We opened these professional institutions to strengthen the bonds among the government, companies and academic institutions. We have achieved the transformation from manufactured in Minquan to invented in Minquan," said Ji.

Minquan High-tech Zone hopes to become the refrigeration industrial cluster for the nation.

The zone is already home to big names in the country's refrigeration industry including Aucma and Wanbao.

 Industrial diamonds help Zhecheng sparkle Tour by train with your cars during National Day holiday 

 

The refrigeration-testing center is the only one in Henan province and the fourth in the nation.

Xiangxuehai, the household name among the first generation of refrigerator users in China, invested 1.2 billion yuan ($196 million) to establish a manufacturing plant in the high-tech zone. The company produces more than 2,000 refrigerators every day and when all the company's projects go into operation, it is expected to produce 3 million every year and generate more than 3,000 jobs, according to Li Zhi, deputy director of the zone's administrative committee.

Wanbao set up its 533,000-square-meter facility in 2012.

Li said that large companies like Wanbao and Xiangxuehai contributed a lot to the local job market.

"The average monthly salary reached some 3,000 yuan, no less than that in big cities in the country," he said.

Ji said that every year the zone could produce 12 million refrigerators on average.

The zone's average annual production capacity of refrigeration trucks reached 15,000 units. Two of the six refrigeration truck producers in China are located in Minquan. Locally built refrigeration trucks accounted for more than 40 percent of the domestic market for several years in a row. In 2013, the market share reached more than 50 percent, according to Ji.

"Now it is the golden time for industrial restructuring and transformation. We will grasp the opportunity to attract more investment projects and bring vigor to the steady growth of the industry," Ji said.

He added that by 2015 production capacity for refrigerators was expected to reach 20 million and trucks could reach more than 20,000.

 Industrial diamonds help Zhecheng sparkle Tour by train with your cars during National Day holiday 

Categorias: , China

China final HSBC PMI steady in Sept but risks remain

China Daily - 54 minutos 40 segundos atrás

Workers assemble molybdenum refining equipment at a Citic Heavy Industries Co Ltd plant in Luoyang, Henan province. Huang Zhengwei / For China Daily 

Activity in China's vast factory sector showed signs of steadying in September as export orders climbed, a private survey showed on Tuesday, easing fears of a hard landing but pointing to a still-sluggish economy facing considerable risks.

The final HSBC/Markit Manufacturing Purchasing Managers' Index (PMI) hovered at 50.2 in September, unchanged from the August reading which was a three-month low, but lower than a preliminary reading of 50.5.

A sub-index measuring new export orders, a gauge of external demand, expanded to a four-and-a-half-year high of 54.5, though domestic demand appeared soft. The 50 mark separates expansion from contraction in activity on a monthly basis.

More worrisome, the survey showed further weakness in the job market, with the sub-index for manufacturing employment shrinking for the 11th consecutive month.

  China Sept factory activity edges up on stronger orders    PMI shows emphasis shifting The world's second-largest economy has stumbled this year as a slowdown in the housing market further weighs on softening domestic demand.

With the property market expected to cool further, economists believe policymakers will have to roll out more stimulus measures in coming months to meet the government's 2014 growth target of around 7.5 percent.

"Overall, the data in September suggests that manufacturing activity continues to expand at a slow pace," said Qu Hongbin, chief economist for China at HSBC.

"We think the risks to growth are still on the downside and warrant more accommodative monetary as well as fiscal policies."

Despite the strong surge in export orders, the overall output level fell to its lowest in four months, but managed to hold above the 50-point level.

Shares in Shanghai gave up modest early gains and dipped into the red after the report.

Still, Chinese leaders have said repeatedly that no dramatic change in policy is imminent.

Premier Li Keqiang said earlier this month that China cannot rely on loose credit to lift its economy and would continue to make only "targeted adjustments" to boost activity.

The latest worrying data came at the weekend, with news that profits at China's industrial companies fell in August from a year earlier. Many of its the country's biggest firms are already receiving heavy subsidies from the state.

China will release its official factory PMI on Wednesday. It is also expected to show growth steadied.

The official PMI is focused on larger factories that belong to the government, as opposed to the HSBC/Markit PMI survey which is biased towards smaller manufacturers in the private sector.

Smaller firms are facing greater financial stresses as some cash-strapped customers are taking longer to pay their bills. Smaller companies are also having more trouble getting credit as banks grow more cautious in the face of mounting bad loans and fears of defaults.

The Industrial and Commercial Bank of China, the country's biggest bank, said 80 percent of new non-performing loans in the second quarter came from the manufacturing and wholesale sectors.

China's banking regulator said on Sunday it had issued revised internal control guidelines for banks to ensure that appropriate risk management controls are adopted, while increasing penalties for any violations.

Issuance of the guidelines came days after China's central bank began a targeted program to make available 500 billion yuan ($81.6 billion) in short-term funds to China's five biggest banks to help the economy by keeping borrowing costs affordable.

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