Nouvelles de Chine

Chinese Vice Premier Hui Liangyu Monday urged local governments to support spring ploughing so as to guarantee a good harvest for this year's grain production. Speaking at a national conference on spring farming held by the State Council (Cabinet) in Xiangfan City of central China's Hubei Province, Hui called for greater efforts to guarantee a good harvest for summer grain and oil crops as cold weather, rain, snow and drought had added pressure on this year's summer grain yield. Following ...

After almost two decades on the Chinese mainland, Taiwan businessman Lee Rie-ho owns a well-known tea group that runs more than 1,000 outlets across the country. However, his Ten Fu Group still only holds around 3 percent of the total mainland market. "The market here is amazingly large," says Lee, 75. "Five cups of tea for each of the 1.3 billion population (on the mainland) could consume a whole year's production in Taiwan." Before the Chinese New Year on Feb. 14, 2010, Lee was among ...

China's Vice Premier Zhang Dejiang on Monday called for stronger management of social security funds and more efforts to maintain and increase the value of the funds. Given the social security funds had a great bearing on people's livelihoods, management should abide by the rules of prudence to ensure the safety of the assets, said Zhang at a meeting held by the National Council for Social Security Funds in Beijing. Meanwhile, Zhang urged that multiple channels must be explored to enlarge ...

Hong Kong stocks lost 130.64 points, or 0.62 percent, to close at 21,079.10 on Monday. The benchmark Hang Seng Index opened 0.82 percent lower at 21, 036.42 on Monday. It traded between 20,964.31 and 21,116.50 during the day's session. Turnover totaled 49.39 billion HK dollars ( about 6.37 billion U. S. dollars), compared with Friday's 48.29 billion HK dollars (about 6.19 billion U. S. dollars). The Hang Seng China Enterprises Index sank 201.79 points, or 1. 66 percent, to close at 11,971 ...

Seoul shares saw a decline Monday on market speculation of monetary tightening in China and the U.S., local analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 13.24 points, or 0.80 percent, to close at 1649.50, the bourse operator Korea Exchange (KRX) said. After several ups and downs in the morning, the index was driven down by reports that China and the U.S. may introduce monetary tightening policies in the near future. Due to unfavorable reports from overs ...

Seoul shares saw a decline Monday on market speculation of monetary tightening in China and the U.S., local analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 13.24 points, or 0.80 percent, to close at 1649.50, the bourse operator Korea Exchange (KRX) said. After several ups and downs in the morning, the index was driven down by reports that China and the U.S. may introduce monetary tightening policies in the near future. Due to unfavorable reports from overs ...

LG Chem, Ltd., the largest South Korean chemical company, announced Monday its plan to build a 2 trillion won (1.8 billion U.S. dollars) plant for materials used in liquid crystal display (LCD) panels in South Korea. The plant will be built in Ochang, located 95 km south of Seoul, covering 356,000 square meters, with the help of the North Chungcheong provincial government, the company said, adding it expects to create more than 3,000 new jobs. The company said construction will begin next ...

LG Chem, Ltd., the largest South Korean chemical company, announced Monday its plan to build a 2 trillion won (1.8 billion U.S. dollars) plant for materials used in liquid crystal display (LCD) panels in South Korea. The plant will be built in Ochang, located 95 km south of Seoul, covering 356,000 square meters, with the help of the North Chungcheong provincial government, the company said, adding it expects to create more than 3,000 new jobs. The company said construction will begin next ...

Chinese equities retreated on Monday, driving the benchmark Shanghai stock index down below the psychologically-important 3,000-point level, on concerns over government moves to cool economic growth and squash inflation. The Shanghai Composite Index on the Shanghai Stock Exchange closed at 2,976.94 points, down 36.47 points, or 1.21 percent. The Shenzhen Component Index closed at 11,903.33 points, down 265.78 points, or 2.18 percent. Combined turnover shrank to 130.39 billion yuan (19.0 ...

Consumer confidence in Japan grew for a second consecutive month in February, according to data released by the Cabinet Office on Monday. Consumer confidence grew by 0.8 point to 39.8 points, while the population's view on overall livelihood increased 0.8 points to 40. 7. On employment, confidence grew by 1.1 percentage points to 34.2, and on income, the mood also improved by 0.9 point to 38.8. The Cabinet Office raised its assessment of consumer mood for the nation, saying it is now "a ...

Consumer confidence in Japan grew for a second consecutive month in February, according to data released by the Cabinet Office on Monday. Consumer confidence grew by 0.8 point to 39.8 points, while the population's view on overall livelihood increased 0.8 points to 40. 7. On employment, confidence grew by 1.1 percentage points to 34.2, and on income, the mood also improved by 0.9 point to 38.8. The Cabinet Office raised its assessment of consumer mood for the nation, saying it is now "a ...

Australia's Westpac Banking Corp director and senior international economist Huw McKay said on Monday that base metal prices will rise faster than gold this year. McKay said prices for aluminium, copper, nickel, lead and zinc would rise as industrial demand from emerging economies increased. The gold price was unlikely to fall below 1,000 U.S. dollars per ounce and there was potential for a rise beyond the current level. McKay said base metals would have a stellar run in 2010, much as g ...

Australia's Westpac Banking Corp director and senior international economist Huw McKay said on Monday that base metal prices will rise faster than gold this year. McKay said prices for aluminium, copper, nickel, lead and zinc would rise as industrial demand from emerging economies increased. The gold price was unlikely to fall below 1,000 U.S. dollars per ounce and there was potential for a rise beyond the current level. McKay said base metals would have a stellar run in 2010, much as g ...

Head of Indonesian Statistic Center Bureau (the BPS) Rusman Heriawan predicted that the country ' s economic growth may exceed 5 percent in the first quarter this year, propelled by massive export, increasing investment and improved state budget, local media reported here on Monday. "It (the growth) could reach above 5 percent. We have to be optimistic. From the existing indicator, I learn that the extraordinary export has contributed to the significant growth. We can compare the export perfo ...

Head of Indonesian Statistic Center Bureau (the BPS) Rusman Heriawan predicted that the country ' s economic growth may exceed 5 percent in the first quarter this year, propelled by massive export, increasing investment and improved state budget, local media reported here on Monday. "It (the growth) could reach above 5 percent. We have to be optimistic. From the existing indicator, I learn that the extraordinary export has contributed to the significant growth. We can compare the export perfo ...

The Cabinet Office on Monday upgraded its assessment on the economy for the first time in eight months, with earnings, production and consumer sentiment all starting to recover. 'While the economy has been picking up steadily, the self- sustainability of the recovery remains weak and problems such as high unemployment mean the situation is still difficult," said the Cabinet Office in its monthly economic report for March. In recent months, the Cabinet Office had said that the economy was p ...

The Cabinet Office on Monday upgraded its assessment on the economy for the first time in eight months, with earnings, production and consumer sentiment all starting to recover. 'While the economy has been picking up steadily, the self- sustainability of the recovery remains weak and problems such as high unemployment mean the situation is still difficult," said the Cabinet Office in its monthly economic report for March. In recent months, the Cabinet Office had said that the economy was p ...

China's stock markets in Shanghai and Shenzhen sank on Monday, as investors remained worried about uncertainties in Beijing's financial policy, and continuous weakness in overseas markets including the Wall Street. The Shanghai composite stock index declined 36.47 points at the closing, or 1.21 percent, while the Shenzhen stock index dived by 265.78 points, or 2.18 percent. Trading was very light, as the two markets witnessed transaction volume of only 134 billion yuan. After China's offi ...

Shanghai General Motors (SGM) announced it will recall more than 2,000 imported Captiva jeeps, citing a potentially dangerous defect. The General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) released a bulletin March 12 stating that the jeeps manufactured by GM Daewoo have an incomplete connection between the steering column and intermediate shaft which may lead to a steering malfunction. The same day, the Defective Products Management Center of the AQSIQ approved ...

Last year, 130 million Chinese consumers spent a total of 267 billion yuan shopping online, according to a report released by China IntelliConsulting Corporation on March 15. This is a roughly 91 percent increase from 2008. At the same time, the survey showed satisfaction with online shopping is second only to large-scale shopping malls and supermarkets, and the rate of complaints fell by nearly 28 percent. The report shows that the amount of online shopping in 2009 is equivalent to around ...

Chinese consumers are becoming more aware of their rights, as a recent joint complaint filed against U.S. computer giant Hewlett-Packard shows. The General Administration of Quality Supervision, Inspection and Quarantine has received an official complaint filed by a lawyer representing 60 consumers, said an administration spokesman Sunday. An investigation has been launched, the spokesman said. The computer giant is under fire from hundreds of buyers in China over its laptops' faulty gr ...

Tokyo stocks opened slightly higher Monday with the key Nikkei index up 0.27 percent. At 9:15 a.m., the benchmark Nikkei 225 Average gained 29.49 points to 10,780.75. The broader Topix index was up 4.01 points to 940.39. &$&$Source:China Daily&$&$ ...

Dismal investment environment and lack of investment tools were the reason why small and medium-sized business owners became enthusiastic about the housing market, said Lai Weimin, professor with Peking University. "Export-oriented enterprises in Southern China's Guangdong province have been experiencing pressures including soaring raw material prices and yuan appreciation. The global financial crisis was the 'last straw'," said Lai. &$&$A paradise for investors&$&$ Since the out ...

The Ministry of Railways gave the go-ahead on March 13 for a high-speed magnetic levitation railway project, or maglev for short, which would traverse a distance of nearly 200 kilometers between Shanghai and Hangzhou, including a branch line already in existence in Shanghai. Detailed research on the project is underway, said Zheng Jian, chief designer of the Ministry of Railways. As of now, this is the only maglev railway line in China's medium and long-term railway development plan. "As the ...

Chen Juan, 24, often recalls the tough old days when she founded her shop on Taobao.com with her older sister four years ago. Although her shop, which sells South Korean cosmetics, had annual sales of 5.4 million yuan and a profit of about 600,000 yuan last year, she said this did not come easily. "We worked almost 15 hours a day, seven days a week to earn the first few orders," said Chen. "We had a potato or a simple box lunch as meals every day at that time and the only reward was to h ...

Beijing - US computer maker Hewlett-Packard (HP) may have to face a series of lawsuits this year from Chinese consumers who found their HP notebook computers faulty, according to a lawyer representing more than 170 consumers angry with the company. It may become the biggest organized consumer action against HP since the company entered China in 1985. Wang Yufeng, a lawyer at the Yingke Law Firm in Beijing, said his group is preparing to take HP to court later this year. He said the p ...

Legislation on recalling defective vehicles is needed, say experts Beijing - Japanese automakers' recent product recalls were not only a warning to Chinese homegrown brands not to expand too fast and ignore management and quality control, but also sounded an alarm to China's automobile recall system. "Although we seldom witness Chinese automakers' recall initiatives, it does not mean that their products are high quality," said Tan Kunyuan, an auto industry analyst with Changjiang Securit ...

Entrepreneur finds massive demand for quality services and profits from local aging population Beijing - Seventy-eight-year-old Zhang Haoyu (not his real name) is part of the statistics: About 85 percent of elderly Chinese said they prefer home-based care to living in a nursing home, according to a recent survey by China National Committee on Ageing (CNCA). The former researcher with the People's Liberation Army has suffered from Parkinson's disease for 20 years and is now showing early ...

Frustrated by the market's performance over the past eight months, Chinese investors may take solace - and a bit of advice - from the session of the National People's Congress just ended. Business and political leaders, it seems, are just as frustrated. Central bank governor Zhou Xiaochuan told reporters at the NPC that striking the right balance between economic growth and inflation was "very complicated". With the price of real estate on everyone's mind, housing minister Jiang Weix ...

High-than-expected inflation will not affect policies: bank governor BEIJING - China's higher-than-expected inflation data hasn't altered the central bank's policy plans, bank Governor Zhou Xiaochuan said yesterday. The central bank's interest rate stance is mainly based on the outlook for inflation and changes in the overall economy rather than published numbers, Zhou told reporters at a session of parliamentary meetings held in Beijing. He didn't elaborate on details of his policy plans. ...