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News from China
Chinese rail investment set to hit new high
27th July 2017

 CHINA’S railway investment rose in the first half year and the investment is set to hit a new high in 2017, authorities said yesterday.

 
In the first half year, fixed asset investment on railways hit 312.5 billion yuan (US$45 billion), up 1.9 percent year on year, according to the China Railway Corporation.
 
“Investment is expected to hit a new high for the whole year, as construction in the second half year will rise as new projects get underway,” said Wang Mengshu of the China Academy of Engineering.
 
Scheduled progress has been made in 27 major projects, including the Beijing-Shenyang passenger line and Hangzhou-Huangshan high-speed line, CRC said.
 
More lines will be started in the second half, including a high-speed line between Anqing and Jiujiang and a line between Huanggang and Huangmei in eastern and southern provinces.
 
“Completing an investment of 800 billion yuan is out of question,” said Wang, given that the third and fourth quarters usually see the approval of a larger number of projects.
 
Wang believes total investment this year will surpass last year’s 801.5 billion yuan, as both the central and local governments are active in the field.
Source: Shanghai Daily, July 27, 2017
Reforms in FTZ to be deepened
26th July 2017

 SHANGHAI will deepen reforms in the free trade zone and accelerate construction of a technology and innovation center as it sets out the city’s government’s tasks for the second half of the year, Mayor Ying Yong said yesterday.

 
The free trade zone will be a trial zone for reforms that combine opening-up and innovation to become a test zone for risks within an open economy, and a pilot zone to enhance government capability, Ying said in a government report at a meeting of the Standing Committee of Shanghai Municipal People’s Congress.
 
The free trade zone is also a frontier for companies to expand overseas as part of China’s One Belt One Road initiative, which was put forward in 2013, as well as to revive eco-nomic ties and connectivity between China and countries across Asia, Europe, and Africa.
 
Reforms in the free trade zone should be aligned closer to Shanghai’s economic reforms, construction of an international financial center as well as a technology and innovation hub, Ying said.
 
In accelerating construction of the technology and innovation center, efforts will be focused on building up the Zhangjiang comprehensive national scientific center, according to Ying.
 
The government will also construct a platform for development and research, and encourage mass entrepreneurship.
 
Ying also reiterated that the government will continue to crack down on speculation in the housing market and build a real estate market that balances home purchase and rent.
 
The government will ensure that the housing market grows steadily, ensure home prices are stable, and work toward improving the structure of residential property.
Source: Shanghai Daily, July 26, 2017
China’s FMCG sales post rebound in Q2
25th July 2017

 SALES of fast moving consumer goods in China in the second quarter rebounded from a sluggish performance in previous quarters to 3.2 percent from a year ago, as retailers sought to diversify shopping channels available for consumers.

 
Sales through modern trade, including hypermarkets, supermarkets and convenience stores, jumped 3.5 percent, according to a latest quarterly report by Kantar Worldpanel.
 
Overall spending on household consumer goods added just 3 percent in 2016, the lowest level in five years, as sluggish market growth and slower price hikes impacted overall consumer goods market growth. In the first quarter of 2017 spending grew just 1.7 percent annually.
 
Sun Art Retail Group, which operates Auchan and RT Mart brands, remains the leader with 8.2 percent market share, followed by Vanguard Group’s 6.3 percent and Walmart’s 5.1 percent.
 
E-commerce spending surged 28.2 percent from a year ago and contributed 6.9 percent of overall FMCG market in the second quarter
Source: Shanghai Daily, July 25, 2017
No gain to diesel car ban
24th July 2017

 BANNING diesel cars in European cities could hamper automakers’ ability to invest in zero-emission vehicles, the European Union’s commissioner for industry has warned the bloc’s transport ministers.

 
In a letter seen by Reuters, Commissioner Elzbieta Bienkowska said there would be no benefit in a collapse of the market for diesel cars.
 
“While I am convinced that we should rapidly head for zero-emission vehicles in Europe, policymakers and industry cannot have an interest in a rapid collapse of the diesel market in Europe as a result of local driving bans,” she said.
 
“It would only deprive the industry of necessary funds to invest in zero-emissions vehicles,” she said in the letter, dated July 17.
Source: Shanghai Daily, July 24, 2017

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