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News from China
China to levy reserve requirements on overseas financial institutions
18th January 2016

China's central bank decided to normalize the reserve requirements on deposits placed by overseas financial institutions at their branches in the country starting from Jan. 25, according to a statement released by the People's Bank of China (PBOC) on Monday.

Overseas financial institutions do not include central banks and other similar agencies such as official reserve managers, international financial organizations and sovereign wealth funds.
 
The PBOC set the reserve requirement ratio (RRR) for such institutions at zero in December 2014, but the ratio will now be "normalized."
The move will not affect domestic yuan liquidity, the PBOC said in the statement.
 
Setting a normal RRR for overseas financial institutions will "help subdue cyclical movement of cross-border yuan funds and guide overseas financial institutions in strengthening their management of yuan liquidity," the statement said.
 
The policy will increase the cost of short-selling offshore yuan and depress arbitrage based on the spreads of offshore and onshore yuan, according to China International Capital Corporation, a Chinese investment bank.
 
Offshore yuan has weakened sharply in past few days. In early January, it dipped below 6.7 against the U.S dollar. Offshore yuan rose moderately in early morning trading on Monday.
Source: Xinhua
FDI rises 6.4 pct despite slowing economy
15th January 2016
Foreign direct investment (FDI) into the Chinese mainland maintained steady growth in 2015 despite the economic slowdown in the world's second-largest economy.

FDI, which excludes investment in the financial sector, rose 6.4 percent year on year to 126.27 billion U.S. dollars in 2015, the Ministry of Commerce (MOC) said on Thursday.

Investment in the country's burgeoning service industry continued robust growth, accounting for 61.1 percent of total flows during the period.

FDI in the manufacturing sector came in at 39.54 billion U.S. dollars, accounting for 31.4 percent of the total. Flow to high-tech manufacturing gained 9.5 percent to 9.41 billion U.S. dollars.

The MOC attributed the growth to the government cutting red tape around investment approvals and accelerating construction of free trade zones.

Foreign mergers and acquisitions in China increased sharply, with their share of total FDI surging from 6.3 percent in 2014 to 14.1 percent in 2015.

The Chinese economy expanded 6.9 percent in the first three quarters of 2015, the lowest reading since the second quarter of 2009.
 
Source: Xinhua
Environment minister demands sound air quality in year beginning
14th January 2016

China's Minister of Environmental Protection Chen Jining has called for tough and targeted measure to ensure sound air quality in the first quarter of 2016, the remaining winter season.

The minister listed several "feasible" measures for the goal, such as conducting regular inspections over companies and vehicles with excessive emissions, better monitoring major pollution sources and improving forecast.
 
The 2015 average PM2.5 density in north China regions around Beijing dropped 10.4 percent from 2014, said Chen, adding it's a "hard-earned achievement" despite winter smog in the area.
 
All places must also work out measures to actively cope with serious pollution weather, he said.
 
He asked local authorities to launch the highest-level pollution warning -- red alert -- in a timely manner once the pollution weather appears to be extreme. Those who fail to well respond to the pollution emergencies will be held responsible.
 
Source: Xinhua
China's trade surplus up 56.7 pct in 2015
13th January 2016

China's foreign trade surplus widened to 3.69 trillion yuan (562 billion U.S. dollars) in 2015, an increase of 56.7 percent from a year earlier, customs data showed on Wednesday.

Exports fell 1.8 percent year on year to 14.14 trillion yuan in 2015, while imports declined 13.2 percent to 10.45 trillion yuan in 2015, according to the General Administration of Customs data.
 
Last year, the country's total export and import values decreased 7 percent year on year to 24.59 trillion yuan.
 
Source: Xinhua

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