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News from China
China's Jan.-Aug. fixed-asset investment up 10.9 pct
14th September 2015

China's fixed-asset investment grew 10.9 percent year on year to 33.9 trillion yuan (5.32 trillion U.S. dollars) in the first eight months, official data showed.

Growth retreated from the 11.2 percent registered in the first seven months, the National Bureau of Statistics (NBS) said on Sunday.
Wang Baobin, an NBS statistician, attributed the month-on-month decrease to slumping investment growth in the property and manufacturing sectors.
 
Despite the decrease in growth rate, the industrial structure has improved, Wang said.
 
Investment in high energy consumption manufacturing rose only 2.1 percent year on year in the first eight months, about 6.8 percentage points lower than the growth rate for investment in the overall manufacturing sector, Wang said.
 
More money has been flowing to high-tech sectors. Investment in high-tech sectors totaled 1.96 trillion yuan in the first eight months, up 16 percent year on year, and the growth rate was 5.1 percentage points higher than the overall investment growth rate, Wang said.
 
The calculation does not include fixed-asset investment by farmers. It includes projects with investment of at least 5 million yuan, as well as all property development projects.
 
Fixed-asset investment in the tertiary industry increased 11.9 percent from a year ago, while that in infrastructure jumped 18.4 percent. Agricultural investment was up 28.5 percent to reach 938.9 billion yuan.
Source: Xinhua
Hong Kong-Guangdong Cooperation eyes on FTZ, Belt and Road initiative
11th September 2015

Developing the free trade zone and tapping opportunities brought by the "Belt and Road" initiative was top of the agenda at the 18th Hong Kong-Guangdong Cooperation Joint Conference in Hong Kong.

 
During the meeting, Zhu Xiaodan, governor of Guangdong Province, said the region's newly formed Free Trade Zone would open to Hong Kong companies and investors. He also said the "Belt and Road" development initiatives provides ample opportunities to deepen bilateral cooperation.
 
That view is shared by Chief Executive of the Hong Kong Special Administrative Region Leung Chun-ying. He said Hong Kong highly values cooperation with Guangdong, and wants to make joint efforts to unleash opportunities in the coming decades.
 
There were also five cooperative agreements signed on education, food safety, e-commerce, intellectual property and joint rescue coordination.
Source: Xinhuanet
Central gov't provided 648 bln yuan to Tibet
9th September 2015

From 1952 to 2014, China's central government provided Tibet with financial subsidies totaling 648.08 billion yuan, a white paper on Tibet published on Sunday said.

The amount accounted for 92.8 percent of Tibet's public financial expenditure, according to the white paper titled "Successful Practice of Regional Ethnic Autonomy in Tibet", which was published ahead of the 50th anniversary of the founding of Tibet Autonomous Region.
 
Since the Third National Symposium on Work in Tibet in 1994, the central government has put into effect the policy of pairing-up support for Tibet, whereby 60 central state organs, 18 provinces or municipalities directly under the central government, and 17 centrally managed state-owned enterprises have paired up with various areas of Tibet in order to provide assistance to them, the white paper said.
 
Over the last two decades, 4,496 outstanding officials and 1,466 professionals have been sent to work in Tibet in seven batches; 7,615 assistance projects have been carried out; and 26 billion yuan has been invested in Tibet, mainly directed at improving infrastructure and the quality of life.
 
All of this assistance has made an enormous contribution to Tibet's social and economic development, according to the white paper.
 
Source: Xinhua
Chinese economy draws attention at G20 meetings
8th September 2015

The G-20's finance ministers and central bankers discussed a variety of issues concerning the global economy during their two-day meeting that closed this weekend in Ankara, Turkey.

The group promised Saturday to take action to boost the global economy to the right track. The recent stock market volatility in China also drew the group's attention.
Attendees at this year's G20 meeting had many issues to talk about, including the global economic situation, investment and infrastructure.
The group said after its meeting that economic expansion in some countries was going strong, but global growth was still missing expectations.
 
The group also suggested that all countries should adjust their financial policies cautiously to support growth, create more jobs and main a sustainable debt-to-GDP ratio.
China's economy and recent stock market volatility also drew attention.
"The Chinese economy was the most mentioned issue in recent days and was included in our agenda. Many countries gave their evaluations of the Chinese economy," said Cevdet Yilmaz, Turkey Deputy Prime Minister.
"The volatility of the stock market reminds us that we still have lots of structural problems, as well as some problems in the real economy. Besides, the connection between the real economy and financial markets also has problems. We need to amend them," said Tian Huifang, researcher, Institute of World Economics & Politics, CASS.
 
A recent IMF report said that China's economy will grow slowly from 2016. But the report also noted that economic fluctuations are normal for China.
The G-20 ministers also said that the group will complete the remainder of the core factors for the global financial system plan and wants to see the IMF make progress on SDR reviews and quota reforms this year.
 
Source: CCTV

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