Sunday, January 22, 2012

China Update

Via good friend Mr. Tony Tsai, EVP - Chief Marketing & Innovation Officer, The Beijing Hualian Group:

"Xie Guozhong: next year may be most unstable year for world economy in past 20 yearsDec. 22, Xie Guozhong, a director of Rosetta Stone Capital Ltd. and independent economist, said that next year may be the most unstable year for the world economy in the past 20 years. It is impossible for the outflow of hot money to overwhelm China. However, the real estate bubble in mainland China is breaking and the bubble exaggerated economic growth."

"Ministry of Commerce: China's foreign trade situation to be more complicated and serious this yearJan. 9 at the National Trade Promotion Work Conference in Beijing, Vice Minister of Commerce Zhong Shan said that trade friction on products exported from China has intensified since last year. Besides labor intensive industries, such as light chemical, textile and steel, other industries, such as telecommunications and photovoltaic, have also been influenced. China's foreign trade situation will be more complicated and serious this year."

"GDP exceeded RMB1tr last year; GDP to grow by 10% this yearJan. 8 at the Shenzhen NPC Conference, Shenzhen Mayor Xu Qin said the GDP in Shenzhen exceeded RMB1tr in 2011. The GDP in Shenzhen will remain at 10% this year."

"Bank of Communications: China's GDP growth in 2012 to reach 8.5%According to the "Outlook of China's Macroeconomics and Finance in 2012" issued by the Finance Research Center of Bank of Communications of China, China's GDP growth in 2012 will reach 8.5%. GDP growth in the four quarters of 2012 are predicted to be 8%, 8.3%, 8.7% and 9%, respectively."

"Total value of China's imports and exports was US$3.64tr in 2011; trade surplus declined by 14.5%Jan. 10, according to statistics issued by the General Administration of Customs, the total value of China's imports and exports was US$3.64tr in 2011, a 22.5% increase from 2010. This includes exports worth US$1.89tr, a 20.3% increase, and imports worth US$1.74tr, a 24.9% increase from 2010. The trade surplus was US$155.14b, a 14.5% or US$26.37b decrease from 2010."

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