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News from China
China sees slow increase in power use
30th September 2015

CHINA’S electricity consumption, an important indicator of economic activity, rose slowly in the first eight months of this year, suggesting economic headwinds, official data showed yesterday.
Power consumption rose 1 percent year on year to 3.68 trillion kilowatt-hours in the January-August period, the China Electricity Council said.
In the first eight months, electricity use by primary industry climbed 2.3 percent from a year earlier. Power consumption by secondary industry went down 0.7 percent, while tertiary industry posted a 7.5 percent increase amid economic restructuring.
Meanwhile, residential power consumption grew 4.3 percent year on year.
The decline in power usage in secondary industries indicated continued downward pressure on China’s industrial sector, said Shan Baoguo, with the State Grid Energy Research Institute.
He attributed the broader slowdown to sluggish external demand and a slowdown in exports, which dragged down industrial production.
The figures for August, in which power consumption increased 1.9 percent year on year to 512.4 billion kwh, provided a more encouraging suggestion of recovery.

Source: Shanghai Daily, 30 сентября, 2015
China sits at 14th for business environment
28th September 2015

 CHINA has been ranked 14th out of 60 leading economies based on an assessment of the business-growth environment, according to a survey by Grant Thornton.

The position, although a drop from third in 2013, is higher than some major developed countries, including France at 23rd and Britain at 27th, according to the global dynamism index compiled by the international accounting firm. Singapore was ranked first.

The assessment is based on five categories — science and technology; labor and human capital; economics and growth; business operating environment; and financing environment.

China maintained the lead in growth and was second in human capital. The high ranking was attributed to the robust consumption and service sector against the sluggish global recovery. Lackluster performance in the business and financing environment, however, dragged down the overall rank.

Source: Shanghai Daily, September 28, 2015
25th September 2015
Toshiba set to close 2 sales subsidiaries
25th September 2015

 TOSHIBA Corp plans to shut down two of its sales subsidiaries in China and authorize its mainland partner to make and sell its white goods as the Japanese company downsizes its overseas business to narrow losses.

“Toshiba will tie up with Shenzhen-based Skyworth Digital Holdings Co to sell refrigerators, washing machines and vacuum cleaners from October, widening sales channels and bring production innovation in the world’s second-largest economy,” the company said in a statement yesterday.

Skyworth will buy a 5 percent stake in two of Toshiba’s factories in Shenzhen and Foshan, and provide some after-sales services on completion of the deal, the Japanese firm said.

Toshiba’s sales of white goods in China were worth 10 billion yen (US$84 million) a year, according to Japan’s Nikkei newspaper.

Toshiba posted a net loss of 37.83 billion yen for the fiscal year ended in March, down sharply from a 60.24 billion yen profit a year earlier.

Masashi Muromachi, chairman and president of Toshiba, said in a media briefing in Tokyo in August that its overseas plants for white goods needed to be consolidated.

Source: Shanghai Daily, September 25, 2015

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