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News from China
Money gates’ fight asset bubble
26th December 2016

 CHINA needs to keep financial market liquidity stable and regulate its “money gates” to prevent asset bubbles, but it also needs to ensure a lack of liquidity doesn’t cause financial stress, according to a commentary in a newspaper owned by the People’s Bank of China.

Policymakers face a dilemma as they need to tighten credit to contain debt and speculative investment without triggering a wave of defaults that could destabilize the financial system.
The country’s leaders have called for a “prudent and neutral” monetary policy in 2017 and for prevention of financial risk, while keeping the economy on a path of stable and healthy growth, according to statements following a key economic meeting this month.
Monetary policy must support economic growth and ensure liquidity in the interbank market, but also needs to target price stability and pay attention to asset bubbles, Financial News said in the commentary on Saturday. Policies should also be more targeted, it said.
“Maintain macroeconomic stabilization policies, strengthen fine-tuning (of policies), but do not implement big stimulus,” the commentary said, but “explore more targeted ways to solve structural problems.”
The central bank has not cut interest rates in 14 months and as the economy has proved relatively resilient, it has been guiding money market rates steadily higher to root out speculators.
Source: Shanghai Daily, December 26, 2016
CBRC gives nod to 2 private banks
23rd December 2016

 CHINA’S banking watchdog has approved the launch of two private banks, in Beijing and Jiangsu Province, to better serve the real economy and help finance small enterprises.

In a statement to the Shenzhen Stock Exchange, Suning Commerce Group, a major Chinese home appliance retailer, said it has received the green light from the China Banking Regulatory Commission to set up its bank in Nanjing, capital of east China’s Jiangsu Province.
Suning has a 30 percent stake in the bank.
Meanwhile, shareholders of Zhongguancun Bank said the bank has received regulatory approval.
Zhongguancun Bank has a registered capital of 4 billion yuan (US$576 million) and will be established by 11 listed companies in six months. Yonyou Network Technology Co is the largest shareholder, with a 29.8 percent stake.
Both banks will provide financial services, mainly to individual clients and micro, small and medium-sized enterprises.
The CBRC approved the setting up of five private banks on a trial basis in March 2014, in a bid to further open up the banking sector to domestic and foreign capital.
Earlier this year, the banking regulator approved Chongqing-based Fumin Bank, Sichuan-based Xiwang Bank and Fujian-based Huatong Bank.
Source: Shanghai Daily, December 23, 2016
Rosy year for courier industry
21st December 2016

 CHINA’S courier sector grew strongly this year amid efforts to boost consumption and services, the State Post Bureau said yesterday.

So far, a total of 30 billion deliveries has been made this year, up 53 percent year on year, continuing its leading position in the world, the bureau said.
Courier business revenue was over 354.4 billion yuan (US$51 billion) in the first 11 months of 2016, up 44.3 percent year on year, the bureau said.
Bureau data showed 20.65 billion parcels were delivered in 2015, up 48 percent from 2014.
Courier services had covered 70 percent of towns and villages by the end of 2015. China will extend this network and lift technology, services and global connections by 2020, the bureau said.
The target annual revenue of the courier sector will be 800 billion yuan by 2020.
Source: Shanghai Daily, December 21, 2016
Telco to tap new tech to transform
20th December 2016

 CHINA Mobile will transform its business and boost revenue in 2017 by tying up with partners to tap the 5G network, Internet of Things and smart home development, the telco said yesterday.

The country’s No. 1 telecommunications carrier also seeks to boost cooperation with top Chinese dot-com firms including Alibaba and Baidu in these areas.
China had over 1 billion mobile broadband users at the end of November, opening up opportunities in e-commerce, social networking and mobile games, industry insiders said.
China Mobile and partners like Huawei Technologies and ZTE Corp are testing 5G base stations and various devices nationwide. The new 5G technology, which will debut between 2018 and 2020, offers consumers a bandwidth of above 1 gigabytes per second, 20-50 times faster than current 4G networks, said Huang Yuhong, vice director of the China Mobile
Source: Shanghai Daily, December 20, 2016

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