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Broadband Users Approach 100 Mln
There are now 97 million broadband users in China, the world's second highest figure after the United States, said Deputy Secretary-General of the International Telecommunication Union (ITU) Zhao Houlin on Tuesday.
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Trade to Reach US$2 Trillion in 2007
China's trade in goods will surpass US$2.1 trillion in 2007, a 20 percent year-on-year increase, the Ministry of Commerce said in a report yesterday, based on a review of China's foreign trade in 2006 and the first quarter of 2007.
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Stocks Surge Through 4000 Barrier
After another day of hectic activity, the Shanghai Composite Index broke through the psychological barrier of 4000 points to close at another record high of 4013.09 yesterday.
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 Economy Expected to Grow by 10.8% in Q2
The country's gross domestic product (GDP) is expected to grow by 10.8 percent in the second quarter of this year, though the expansion of the trade surplus should slow during the period, according to the State Information Center, a research body under the National Development and Reform Commission.
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 Economy Up 11.1% in 1st Quarter
The Chinese economy has started 2007 on a strong note, expanding by 11.1 percent in the first quarter. Figures provided by the National Bureau of Statistics (NBS) yesterday show that the gross domestic product (GDP) reached 5.03 trillion yuan (US$653 billion).
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Number of Bank Cards Reaches 1.1 Bln
Chinese banks have issued 1.1 billion bank cards, which accounted for almost a fifth of last year's retail sales, according to a report from People's Bank of China.
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Price of New Housing Up 6%
Prices continued to rise in China's real estate market last month, with Shenzhen, Changsha, Beijing and Guangzhou leading cities in the price hikes, sources with the National Development and Reform Commission said Tuesday.
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 10% of GDP Comes from Sea: Report
China's seas generated 2.09 trillion yuan (US$270 billion), or just over 10 percent of gross domestic product (GDP) last year, according to a report on the country's marine economy in 2006.
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Funds Work Both Ways for Nation
China is one of the top overseas direct investment recipients and is also increasing its investments in other economies, especially in Africa, says a UN report.
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53 Mutual Funds Report US$6.5 bln Profits
Fifty-three mutual funds in China reported operating profits of 49.96 billion yuan (US$6.46 billion) in 2006, thanks to the country's bull markets. The record operating profits were seven times greater than the seven billion yuan earned in 2005 by all 206 mutual funds under 46 fund management companies in China.
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 Mainland Firms Gain Little from Sourcing Wave
Findings from a recent Boston Consulting Group study on global companies with China sourcing offices indicated that home-grown Chinese companies are not always benefiting from the surge of China sourcing as much as expected, especially in highly competitive industry segments.
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2007 to See Record Online Sales in China
A newly published report by iResearch, an Internet research company, has estimated that China's online sales will surpass 51 billion yuan (US$6.38 billion) in 2007, up 63 percent on 2006.
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 Retail Sales Up 14.7% in First Two Months
China's retail sales of consumer goods extend the momentum of last year with a 14.7-percent growth in the first two months of 2007, the latest statistics from the National Bureau of Statistics (NBS) showed.
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Bumper FDI Growth Continues
The realized foreign direct investment (FDI) in China climbed over 13 percent in the first two months of this year. The news comes amid concerns that the newly introduced unified corporate income tax rates might affect the FDI inflow.
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 China Plants 5.23 mln Hectares of Trees in 2006
China planted 5.23 million hectares of trees in 2006, bringing the country's forest acreage to 175 million hectares, according to a report issued by the State Forestry Administration (SFA) on Sunday.
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Listed Companies Make Juicy Profits
A total of 206 out of the more than 1,400 Chinese listed companies reported a close to 90 percent rise in profits in 2006, according to their annual reports.
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 Chinese Stock Shares Slump Sharply
Chinese shares showed a sharp decline on Tuesday, with the major Shanghai index down 8.84 percent, the biggest daily drop in 10 years. Analysts blame profit taking for the dramatic drop.
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China to Issue 30 Billion Yuan in T-bonds
China's Ministry of Finance has announced it will issue 30 billion yuan (US$3.75 billion) worth of certificate treasury bonds next month, the first batch of its kind to be issued this year.
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Money Supply Rises in January
The broad measure of the money supply (M2), which covers cash in circulation and all deposits, grew 15.9 percent year-on-year to 35.2 trillion yuan in January, the People's Bank of China (PBC) said on Thursday.
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Over 10 Mln Chinese Cultural Relics Lost Overseas: Report
Chinese experts estimated that more than 10 million Chinese cultural relics have been lost overseas, Monday's overseas edition of the People's Daily reported. Most of the cultural relics were robbed and illegally shipped out of China during the war times before the founding of the People's Republic of China, the Chinese Culture Relics Society said.
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 300 Bln Yuan Under the Hammer in 2006
China enjoyed a strong auction market last year which saw a turnover of close to 300 billion yuan (US$37.9 billion), 30 times that of a decade ago, said the Ministry of Commerce.
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 China's Demand for Coal Set to Rise
China's coal output is expected to reach 2.6 billion tons in 2010 as it continues to be the nation's most important energy resource, according to the outline of the 11th Five-Year Plan (2006-10) for the industry.
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 China's Lottery Sales Breaks 80 Billion Yuan in 2006
China's lottery sales in 2006 increased to a record high of 81.93 billion yuan (US$105.4 billion). China launched its first lottery in June 1987. Lottery sales are one of the major sources of funds for the country's social welfare programs, despite this, gambling is illegal in China.
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Report: Online Gaming Industry Gains Momentum in 2006
Revenue from China's online gaming industry reached 6.5 billion yuan (US$840 million) in 2006, up 73 percent on a year earlier, and could quadruple by 2011 as Internet access becomes more widespread, according to market researcher IDC.
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Foreign Exchange Reserve Tops US$1 Trillion
China's foreign exchange reserve reached US$1.0663 trillion at the end of 2006, announced the People's Bank of China on Monday. The figure represents a 30.22 percent rise over 2005. It was the first time that China's foreign exchange reserve were confirmed to have exceeded US$1 trillion, according to the central bank.
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China Spends Extra US$15.2 Bln on Oil Import in 2006
Soaring oil price on world market has made Chinese companies spend an additional US$15.2 billion on buying oil from abroad last year, according to figures released by the General Administration of Customs on Sunday.
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 Wallets Open for Online Spending
Chinese Internet users spent 276.76 billion yuan (US$35.51 billion) on Internet services in 2006, close to 50 percent more than the previous year, as the number of netizens rose to 136 million by the end of 2006, the Internet Society of China said yesterday.
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Trade Surplus Predicted to Hit US$190 Billion in 2007
China's trade surplus may surge to a new record high of around US$190 billion in 2007 despite a series of government efforts to both curb exports and encourage imports, the Chinese Academy of Sciences predicted in its latest analytical report.
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 China's Expansion of Rural Road Network
A total of 300,000 kilometers of rural road in China will be built and upgraded in 2007 to facilitate local transport, according to the communications authority.
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ICBC Market Value Soars to World No. 3
The A share of the Industrial and Commercial Bank of China (ICBC) rose 10 percent daily limit to 5.21 yuan Monday, making itself the third largest bank in the world with market value at US$214.1 billion.
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Market Value of Chinese Stocks Hits All-time High
China's bullish stock market saw total market value hit a record high of eight trillion yuan (over one trillion US dollars) on December 20, making it the largest emerging stock market in the world.
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 November Housing Prices in 70 Major Cities Up 5.8%
The average housing prices for newly-built apartments in China's 70 major cities rose 5.8 percent year-on-year in November, sources with the National Development and Reform Commission (NDRC) said Wednesday.
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More Faulty Vehicles Recalled This Year
Twenty-two foreign and domestic carmakers recalled more than 283,500 flawed vehicles in China this year, said an official with the state quality watchdog on Monday.
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Chinese Benchmark Stock Index Close Record High
The benchmark Shanghai Composite Index that covers both A- and B-shares rose 1.15 percent to close at 2,249.11 points on Thursday afternoon, breaking the record in history that was created more than five years ago.
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RMB Hits New High Against US Dollar
The value of the Renminbi (RMB) yuan against the US dollar hit a new record high on Thursday with a central parity rate of 7.8197 yuan to one dollar, according to the Chinese Foreign Exchange Trade System.
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 Farm Product Exports to Increase 12% This Year
China's agricultural product exports are expected to grow about 12 per cent to hit US$30 billion this year despite overseas technical barriers and cost increases, according to a senior official with the Ministry of Commerce.
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China to Remain Locomotive for Asia Pacific in 2007: S&P
China, India and Japan, the three major regional economies, will continue to drive economic development in the Asia Pacific region in 2007. China, in particular, continues to be a key locomotive for regional growth, with the economic slowdown in the US expected to dampen China's growth momentum only marginally.
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Trade Surplus Stands at US$22.9 bln in November
China's monthly trade surplus stood at US$22.9 billion in November, according to a latest report from the General Administration of Customs. It also witnessed a slight drop from October's US$23.83 billion, this year's fifth monthly record high.
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Export Growth to Slow down Next Year
China's export growth is expected to slow down next year, according to a blue book released by the Chinese Academy of Social Sciences (CASS), a major think tank of the government.
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Fears of High Jobless Rate in 2007 Grow
At least 15 million people roughly the population of Beijing may not be able to find jobs in Chinese cities next year, when the economy is expected to grow at below 10 percent, according to government think-tanks.
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Chinese Bloggers Hit 19.87 Mln: Report
The number of bloggers who use Chinese reached 19.87 million in early November, according to a report released by Chinese Internet company Baidu on Wednesday.
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Gov't Procurement to Slash Medical Costs
The central government will earmark one billion yuan (US$125 million) to purchase medical services for 400 million urban residents in the middle-west areas in 2007.
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Customs Revenue Up 17.7% from January to November
China's customs revenue reached 565.3 billion yuan (US$72.5 billion) during the January-November period of this year, an increase of 17.7 percent from the same period last year, the General Administration of Customs said on Tuesday.
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 Steel Industry to See 'Slower Growth?'
China's steel industry is expected to witness slower growth and more consolidation over the next few years, according to one of the nation's top statisticians.
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Nation Now Ranks 2nd in R&D Spend
China should surpass Japan this year to become the world's No 2 investor in research and development after the United States, the Organization for Economic Cooperation and Development (OECD) said yesterday.
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Crude Oil Imports Down 20% in October
China's imports of crude oil dropped by 3.8 percent from a year ago to 10.82 million tons in October, according to statistics provided by the General Administration of Customs.
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ADB Supports N. China Railway Project
The Asian Development Bank (ADB) announced on Wednesday a loan of US$300 million to help fund construction of a 944-km railway line across north China.
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Beijing Auto Show Closes with Record Turnout
The Beijing auto exhibition 2006 closed Monday with a record turnout of almost 600,000 visitors in 10 days. The event, which has been held biennially since 1990, also drew 6,376 journalists, including 1,135 from outside China.
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 RMB Breaks 7.85 Mark Against US Dollar
The value of the China's Renminbi (RMB) against the US dollar hit a new high on Monday with the central parity rate at 7.8402 yuan to one dollar, breaking the 7.85 mark.
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Accommodation and Catering Sales Up 16.2% for First 10 Months
According to the website of the Chinese Ministry of Commerce, in October this year the total retail sales of the accommodation and catering industries reached 96.5 billion yuan (US$12.27 billion). This is a year-on-year increase of 17.9 percent and 3.6 percent higher than the size of the total retail sales of consumer goods.
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Pyramid Schemes Go up the Ziggurat in China
Chinese police reported 62,000 economic crimes in the first ten months of this year, an increase of 9.1 percent year-on-year, the Ministry of Public Security (MPS) said on Thursday.
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Industrial Profits Grow Strongly in Jan-Oct Period
China's industrial profits rose a robust 30.1 percent in the first ten months, back to their best levels. The profits of all state companies and companies with annual sales of over five million yuan reached 1469.7 billion yuan (US$186 billion) in the first ten months.
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 Huge Rail Investment Announced
China will invest 1.5 trillion (US$190 billion) to increase the nation's rail network to over 90,000 kilometers by 2010. China also plans to extend the expressway network by 85,000 kilometers in the next 30 years at an estimated cost of two trillion yuan (US$250 billion).
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 Alumina Output to Reach 13 Mln Tons This Year
China's alumina output this year would reach 13 million tons and the earlier estimates of 14 million tons in 2010 were "obviously too low," an industry association official has said.
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Shanghai Stocks Soar to 5-year High
A continuing massive inflow of domestic and foreign funds yesterday pushed the Shanghai stock index to a 5-year high, with much of the buying concentrated in banks and blue chips.
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6 Mln Chinese Children Study in Bilingual Schools
In China approximately six million children are attending more than 10,000 bilingual schools using both Mandarin and ethnic languages. The ethnic minorities' rights to receive education and cultivate more skills in both Mandarin and ethnic minority dialects are well guaranteed.
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Aquatic Products to Hit 60 Mln Tons by 2010
China's aquatic products will hit 60 million tons by 2010, up 18 percent on that of 2005, according to the country's 11th Five-year Plan (2006-2010) for the fishery industry, revealed by the Ministry of Agriculture on Thursday.
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 Severe Drought in Eastern and Southern China
Drought has hit wide areas of eastern and southern China and will likely continue in the weeks to come. In total approximately 6.7 million hectares in east China's Fujian Province have been affected by the drought.
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FDI in China Grows After Decline
Realized foreign direct investment (FDI) in China rose in October after annualized declines in the previous four months, the Ministry of Commerce said yesterday. The amount grew nearly 16 percent to US$5.99 billion and 3,047 foreign-invested enterprises were approved.
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Retail Sales Surge 14.3% in October
China's retail sales surged 14.3 percent from the previous year to 699.8 billion yuan in October, the National Bureau of Statistics (NBS) said on Tuesday.
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 Savings Deposits See First Drop in Five Years
A central bank report shows that China's renminbi savings deposits dropped in October. This is the first decline since June 2001 and the central bank attributed active stock trading to the fall.
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TCM Revenue Grows 20% Annually
Revenues of the Traditional Chinese Medicine (TCM) industry have grown 20 percent annually in the past decade, and are now three times higher than in 1996, said a health official.
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 Over Seven Mln New Cars to Be on the Road
China's production and sales of cars is expected to surpass 7 million this year, said the China Association of Automobile Manufacturers on Thursday, based on the country's automobile production and sales position in the first 10 months of this year.
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Monthly Trade Surplus Hits Record High
China's trade surplus surged to a record US$23.8 billion in October as imports slowed and exports further accelerated, putting more pressure on the yuan's appreciation and ballooning foreign exchange reserves.
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 China Share Prices Reach Five-year High
Share prices on China's Shanghai and Shenzhen stock exchanges reached a five-year high on Monday, driven by steel and metallurgical stocks, the two bourses recording a total turnover of 42.8 billion yuan (US$5.42 billion).
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50% of Chinese to Live in Urban Areas by 2010
50 percent of the Chinese population will live in urban areas by 2010 with the figure expected to reach 60 percent by 2020, said Qiu Baoxing, vice minister of construction at an ongoing Shanghai international urbanization forum.
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20b Yuan in Oil Profit Taxes Redistributed
China has collected over 20 billion yuan (US$2.5 billion) in special taxes on the profits of its crude oil producers since March, according to Vice Finance Minister Lou Jiwei.
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China Pumps Up Use of Desalinated Water
China made breakthroughs in key seawater desalination technologies with the result that it was able to produce 120,000 tons of desalinated water a day as of the end of 2005, lowering costs to about 5 yuan (US$0.63) a ton, the National Development and Reform Commission revealed on its website.
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House Prices Up 6.3% in September
Housing prices in 70 major Chinese cities rose 6.3 percent in September over the same period last year but the growth rate was 0.8 percent lower than in August.
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GDP to Grow 7.5% Annually in Next 5 Years
China's gross domestic product (GDP) is expected to grow by about 7.5 percent annually in the next five years, said Ma Kai, Minister of the National Development and Reform Commission (NDRC), on Monday.
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 China to Buy 150 A320 Aircraft
China Aviation Supplies Import and Export Group Corporation signed a framework agreement with the European aircraft maker Airbus to buy 150 A320 series airliners on Thursday.
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Private Firms Overtake State Sector in Profit Growth
Chinese private companies reported profit growth rate of 52.5 percent in the first nine month, more than double of their state counterparts. Figures with the National Bureau of Statistics show that profit for the state-owned companies only grew 20.1 percent.
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Crooked Officials Punished
Altogether 67,505 government officials have been punished in China for corruption in less than four years since 2003, with more than 17,505 prosecuted and sanctioned in the first eight months of 2006 alone.
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Chinese Farmers Save Extra Money
A calculation by the Agriculture Ministry shows that Chinese farmers will each have an extra 140 yuan (US$17.5) in their pockets in 2006 as a result of tax savings.
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