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News from China
Xi's U.S. tour to set tone for bilateral ties: Chinese experts
17th September 2015

 President Xi Jinping's visit to the United States coincides with the reconstruction of bilateral ties and it will be an important forum to discuss the future path of relations, according to Chinese experts on Wednesday.

The Foreign Ministry announced on Wednesday that Xi will pay his first state visit to the U.S. from Sept. 22 to 25.
"The visit will be a milestone of great significance," said Su Ge, president of the China Institute of International Studies (CIIS), at the Foreign Ministry's 14th Lanting Forum.
He said this visit will be on par with one made by late Chinese leader Deng Xiaoping in 1979, who showed China's resolve to open the nation to the world shortly after the two countries established formal diplomatic ties.
Su expects Xi's visit to set the tone for the future direction of the relations between the two major countries.
Foreign Minister Wang Yi said at the forum that both sides will use the opportunity to reaffirm their respective development direction and strategic intentions, their growing common interests and their common responsibility for peace, stability and development.
Wang Yizhou, a Peking University professor, said China-U.S. relations were "in a state of reconstruction."
The United States' engagement with China over 40 yeas ago was based on the common threat the two sides were facing -- the Soviet Union, and at that time China was weak, Wang noted.
This situation, however, has now changed. China and the United States have no common threat, instead they face different challenges and differences.
"The current scenario has no precedent, so both countries must revisit their relations," Wang added.
Despite ever-growing economic ties, China and the United States have differences in a series of issues concerning cyberspace security, the South China Seas and others.
"China-U.S. relations are at a turning point," said Yuan Peng, deputy president of China Institute of Contemporary International Relations, who added that due to a change in balance of power between the two countries, and the profound transformation of the world, it is not unusual that some negative views about China-U.S. relations have emerged.
Xi's visit can bring positive elements together with his U.S. counterpart Barack Obama, and in addition, Xi can explain China's new round of reform in a bid to strengthen mutual understanding, Yuan said.
Ruan Zongze, executive deputy of CIIS, said Xi's U.S. tour during the period of reconstruction of the bilateral ties will be important over the next years.
"It is a historical period of mutual construction, which means that China is no longer has a passive role in bilateral ties, as it has put forward concepts and ideas of its view of the future," Ruan said, referring to the new relationship between the great powers.
Ruan added that the U.S. should take a positive attitude toward the rise of China, because China's development will brings bigger opportunity for China-U.S. cooperation.
Source: Xinhua
China's online retail rose 48.7 pct in H1 2015
16th September 2015

 China's online retail sales continue to show strong momentum, growing 48.7 percent during the first half this year, China e-Business Research Center (CECRC) said Tuesday.

Online retail sales hit 1.6 trillion yuan (250 billion U.S. dollars), 11.4 percent of total retail sales in China. The number of online shoppers rose 19.1 percent to 417 million, said the Hangzhou-based e-commerce tracker.
Cross-border e-commerce has become a new driver of retail sales as online retailers connect domestic consumers with an increasing number of overseas brands, according to CECRC analyst Mo Daiqing
Alibaba's online marketplace Tmall continues to dominate China's online business-to-consumer market, with 57.7 percent of the market. Its rival comes in second, at 25.1 percent, followed by a distant third by, at 3.4 percent.
CECRC also noted that more transactions are being made on mobile Internet as online retailers move to encourage consumers to shop with their mobile apps on smartphones and tablets.
Robust online sales also boosted the revenue of China's courier services by 33.2 percent during the same period, to 120 billion yuan. CECRC estimates revenue will top 290 billion for the whole year.
China's rural areas, Mo said, have emerged as the next source of growth for retail sales and online retailers are seeking deeper integration with offline retailers.
Source: Xinhua
China economic planner highlights investment to support growth
15th September 2015

China's top economic planner on Monday laid out fresh measures aimed to increase investment.

Xu Shaoshi, head of the National Development and Reform Commission (NDRC) told a press conference that funding for targeted projects would be increased and the commission would encourage more cooperation between government and private capital. More powers will be delegated to lower levels and the funding mechanism will be improved to push more capital into the real economy.
Xu stressed that considerable uncertainty still surrounds the economy. China is battling a property downturn, industrial overcapacity, sluggish demand and weak exports, which dragged growth down to 7 percent for the first half of the year. The government is pinning hopes on infrastructure investment to shore up growth.
In the first 8 months, investment in infrastructure rose 18.4 percent year on year, contributing to 27.7 percent of the overall investment. 
Source: Xinhua
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

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