As the deteriorated global financial markets impact economies around the world, Chinese financial experts expressed that Beijing is in a good shape to reinforce its position as a global financial hub.
The Chinese capital is a promising city crowed with talents and industries with the potential for significant development.
Crucial sectors such as financial services, real estate, IT, automobile, retail and hospitality are booming.
In 2007, Beijing’s financial industry with a revenue of 128.6 billion yuan, it accounted for 20.5 percent of local economic growth.
At Read more…
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Beijing, centre, financial, potential, shape
As the global economic slowdown and decreasing demand in main international markets, international trade in China is lessening gradually.
The country may bear more uncertainties in export and import business because of the worsening situation in the international market.
In the first eight months of the year, China’s exports increased to $937.7 billion by 22.4 percent and 3.3 percent less than last year. Imports were up to 785.7 billion by 30 percent, 10.4 percent than 2007.
Owing to the growth in exports decreasing while imports were increasing, the country’s trade surplus decreased to $152 billion, $10 billion less than the year 2007.
At the same time, China’s exports to U.S.A. just increased by 10.6 percent, Read more…
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demand, economic, exporter, global, slowdown
A potential global recession is caused by the deteriorating US credit crisis, which is said to force many CEOs of Chinese enterprises to make emergent plan to cut production and corporate expenditure in preparation for leaner times. These companies have for years worked toward an export boom.
As the surplus goods, produced by the fall in exports, can not be digested by domestic market, many Chinese are possibly facing the problem of excess capacity, caused by easy and Read more…
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Chinese, difficulties, firm, global, recession
The People’s Republic of China
Loan No.: 2112-PRC: Liaoning Environmental Improvement Project
Procurement of Equipment and Material
(Bid No.: 0614-0720SY070173)
1. The People’s Republic of China has received a loan from the Asian Development Bank (ADB) towards the cost of Liaoning Environmental Improvement Project, of which Benxi Huaxing Central Heating Supply Read more…
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ADB, equipment, material, procurement, project
PRESS NOTICE
INVITATION TO PRE-QUALIFY
(1) The Head of Chancery, Embassy of India, Beijing, on behalf of President of India, invites prequalification applications from reputed firms/contractors who are specialized on interior works for the following project which is under construction: Read more…
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Beijing, India, interior, invitation, prequalify
The financial turbulence has greatly affected China’s exports, and it lowered the expectations of China’s exporters as the country’s leading trade fair which is mainly known as the Canton Fair. The fair was opened yesterday. The autumn session of the biennial fair in Guangzhou is considered as the barometer of Chinese exports and imports, which will run till Nov 6, lasting for 15 days all together.
The number of booths this year is 53,000, 10,000 more than last time. Despite the encouraging changes, businessmen and analysts still have taken a cautious attitude toward China’s export prospects because of the global financial crisis, fluctuations in raw material prices, Read more…
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canton, China, crisis, fair, global
Shanghai International Port (Group) Co, who operates the world’s second-busiest container harbor, said profit rose 23 percent last year as China’s trade growth boosted demand for sea transportation.
Net income rises to 3.64 billion yuan, or 0.17 yuan a share, from 2.97 billion yuan, or 0.14 yuan, a year earlier, announced by the company in a Shanghai Stock Exchange statement yesterday. Sales climbed to 16.3 billion yuan, up 27 percent.
Read more…
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China, container, harbor, port, Shanghai
According to the local bureau of commerce, as the booming of the outsourcing services in China, Beijing’s Haidian district will have further development in outsourcing industry focusing on the software improvement and information service.
Beijing occupied 70 percent of China’s service outsourcing market with its hundreds of service outsourcing Read more…
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boom, China, Haidian, Outsourcing, service
As consumers are paying more for basic necessities and are more willing to spend in the face of rising inflation, China’s retail sales increased 22 percent in April from a year earlier. According to the National Bureau of Statistics (NBS), sales of foodstuff and beverage climbed 25.3 percent while spending on grain and edible oil surged by 36.3 percent.
After some research, Song Yu and Liang Hong, Goldman Sachs’ economists said, “With inflation at a decade high level, it is not surprising to see nominal retail sales reaching Read more…
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consumer, decade-high, inflation, retail, sale
China’s software sector is booming, but it will be years before it threatens Indian rivals, such as Infosys, because of its small sizes and lack of experience. For now, Chinese firms are attracting venture funding and expanding staff for future growth.
The total value of software and services exported from China was estimated $1.8 billion in 2006, which is only small amount compared with India’s $41 billion export revenue. But the value of software and Read more…
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boom, China, experience, sector, software
As the deteriorated global financial markets impact economies around the world, Chinese financial experts expressed that Beijing is in a good shape to reinforce its position as a global financial hub.
