City Intmarkenkleidungroduction of Gansu, China: Qingyang
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City Introduction of Gansu, China: QingyangPublished: 10 Apr 2009 15:48:30 PST

Major Economic Indicators (2007)

China's Chaussettesstimulus leaves farm problems unsolved-exec
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China's stimulus leaves farm problems unsolved-execPublished: 02 Mar 2009 17:58:08 PST

BEIJING, March 2 - China needs to adjust its ruralstimulus policies to boost agricultural productivity, the headof the country's largest private agricultural firm said.

Current incentives are not enough to bolster consumption byfarmers who still lack access to capital, Liu Yonghao, chairmanof the board of the New Hope Group, told reporters on Monday.

Beijing has offered a variety of incentives to grow grains,and offered subsidies for household appliances and farmvehicles, to reduce the income gap between city and country andinduce domestic consumption to help offset a drop in demand forexports.

But despite banks' mandate to lend, farmers still haveproblems accessing loans, while reforms last year that formallyallowed land transfers still can't create farms that are largeenough for economies of scale, Liu said.

"The big problem in the countryside is that there are stillno loans," said Liu, who was in Beijing for the annual meetingof a policy advisory body that opens on Tuesday.

"Loans are hard to get, because there is no way tocollateralize. If a farmer goes to a bank, what can he say? 'Ihave three pigs and a flock of chickens'? It doesn't work."

Liu proposed giving farmers a voucher that could be used toinvest in larger scale farms, while setting up systems ofguarantor companies or cooperatives that would help reduce therisk in rural lending. Sales contracts could be used ascollateral, since Chinese farmers do not own land.

About a dozen such loan guarantors, some backed by Liu'sfirm, are operating in China as pilot projects, he said. Otherareas are experimenting with credit cooperatives.

JOBLESS

China in 2008 rolled out a scheme to give rebates onpurchases of televisions, refrigerators and mobile phones, totry to raise purchasing power in the countryside.

But with 20 million migrant workers out of a job, thefamilies who depend on them will cut back spending too, Liusaid.

"An appliance rebate is basically like having a discount,because the family still has to pay for the remainder.Especially now that jobs are insecure, a lot of rural householdsthat had planned to buy are now putting off their purchase," Liusaid.

"They need a stable income before they are willing to spend.We need to raise rural productivity before we can really raiserural consumption."

Vouchers could be applied to livestock or poultry, helpingrural households achieve economies of scale, while meatprocessing industries would help soak up the rural unemployed,said Liu, who with his brothers started out by selling eggs asChina's economic reforms began thirty years ago.

"So many rural workers want to build economies of scale;they don't want to work a little tiny plot when they've seen thebig city. But they need capital."

New Hope is China's largest feed company, as well as largestpoultry producer, and has invested in pork, dairy and meatproduction. Liu, once dubbed China's "Feed King", now says hecan claim title to "Pig King, Chicken King or Duck King."

Liu has regularly gone to battle against Chinese policiesthat put too great an emphasis on grains self-sufficiency.

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LIGHTING A NEW PATHPublished: 19 Oct 2009 09:02:01 PST

Wu Guomin profited a lot for at least a decade by producing lamps under the big brands of "Philips" and "Wipro." But that was before the financial crisis.

After an array of trade barriers, Wu, vice president of Zhejiang Yankon, China's largest producer of energy-saving lamps, decided to brand its lamps as "Energetic" in the electricity-strapped India last month.

"It takes years for us to realize that self-owned brand is the formula of long-term success for Chinese exporters," Wu told Xinhua at the ongoing Canton Fair in Guangzhou, South China's Guangdong Province. "To push for our own brand is a must, not an alternative."

Yankon produced 300 million bulbs annually, about 60 percent of which were for exports, but more than half of them were sold under other foreign big names which outsourced their businesses to countries with low labor cost.

Many Chinese exporters had a similar story as Yankon, who, without self-owned names, had to serve as a workshop for the world's big brands.

In 2002, India imposed anti-dumping tariffs on made-in-China lamps to make way for their domestic producers. Although the imports from China were slashed from five million a year to one million as a result, Chinese exporters could still have a niche in India.

But this year, the situation is getting worse as India has added 50 percent anti-dumping taxes on average on the burners imported from China, a key component of lamps. That meant Yankon's product would be knocked out of the country with huge demand for energy efficient lamps.

Made-in-China goods have frequently been the targets of anti-dumping investigations because their low prices, which is a natural result of lacking a self-owned brand, could threaten the domestic producers in the importing nations.

The company suffered another pinch of its OEM business model after its overseas orders were slashed by half in the year to this May, the worst days of the global financial crisis.

"Without the self-owned brand, we are the most vulnerable in the face of the slightest market changes," said Wu, who added that he was determined to launch a global brand offensive from that moment.

Improved durability and reasonable prices make Energetic lamps quickly accepted by Indian consumers. The one million bulbs churned out in its factory 70 kilometers south of New Delhi is far from enough to meet the rocketing market needs.

"Under the OEM model, we sold at $1 a lamp in India, and made 10 percent of it for profits. Now, we have doubled the prices with our Energetic icon, and earned 20 percent to 30 percent," Wu said.

Before Yankon encountered those hardships, it thought the OEM model was ok, so it simply waited for the big names to pick it up.

"Years later, the head-on competition forced us to adopt more proactive and aggressive tactics," he said.

Having tasted the success of the self-owned brand, Yankon plans to expand its brand presence in the United States, the European Union and other emerging markets such as the Middle East and South America.

The company has already set up distribution subsidiaries in Los Angeles and Belgium to pave way for a full entry, but remains cautious of building factories in the developed countries considering the high labor costs.

The company has set up a goal of selling half of its products under its self-owned brands in the overseas market by the end of 2018.

Energetic's global reach would not come easily. Wu will have to counter obstacles to snatch a share in the US and European markets where jigsaw competitions among industrial giants are regular.

Aggressive as it is, the company knows quite well that it is unrealistic to stop the OEM business in the shorlipo battery 工业除湿机 灭火器 冷热冲击试验箱 冷热冲击试验机 转轮除湿机 カード 現金化 クレジット 現金化

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TOPWRAP 4-U.S. bankers grilled, China trade plungesPublished: 11 Feb 2009 19:24:11 PST

U.S. stocks rebound, Congress questions bankers

Treasury's Geithner pushes new bank bailout plan

China's imports, exports plunge

UK unemployment hits 12-year high

* Credit Suisse posts $7.1 bln annual loss

WASHINGTON/LONDON, Feb 11 - U.S. lawmakers grilled leading American bankers on Wednesday on how they are using the bailout money they got last year and Treasury Secretary Timothy Geithner pushed a new bank bailout plan.

Global trade continued to crumble with a sharp fall in Chinese imports and exports in January underlining the economic damage caused by the global financial crisis.

U.S. stocks opened higher with investors scooping up shares beaten down in Tuesday's selloff on disappointment over the lack of detail in the latest U.S. plan to rescue the financial system.

Bank shares were among U.S. stocks mounting a recovery, led by Bank of America, which rose 9 percent.

Geithner's bank plan would put $2 trillion to work mopping up bad assets and restoring credit, but it was immediately criticized for lacking detail and clarity.

"I completely understand the desire for details and commitments, but we're going to do this carefully, consult carefully so we don't put ourselves in the position again where we're laying out details ahead of the care and substance necessary to get it right," he told the Senate Budget Committee.

Eight bank chiefs appeared before the U.S. House Finance Committee to explain what they are doing with the billions of taxpayer dollars they received to avert collapse and get them lending again.

In London, bank executives also got a dressing down on Wednesday in a parliamentary investigation into the integrity of the British banking system, which was partially nationalized in the crisis.

A top UK financial regulator, James Crosby, deputy chairman of the Financial Services Authority, was forced to step down because of allegations he ignored risk warnings when he was chief executive of British bank HBOS.

The U.S. Congress and the Obama administration moved closer to a deal on an $800 billion economic stimulus package to fight deepening recession in the world's largest economy, which is reeling from a slump in asset prices, scarce credit and millions of lost jobs. Congressional negotiators will meet on Wednesday afternoon to reach a compromise bill, aides said.

President Barack Obama, who has said the stimulus package is essential to avert a catastrophe, wants to have a bill to sign into law by this weekend.

IMPORTS, EXPORTS SLUMP

China, the world's third-largest economy, has seen trade hit as big customer economies, the United States, Europe and Japan, have gone into reverse.

China's January trade data showed exports fell 17.5 percent from a year earlier, a sharp acceleration from a 2.8 percent dip in December.

Imports plummeted 43.1 percent, twice as much as in the previous month.

The declines were sharper than expected and mirrored big falls elsewhere in Asia, suggesting to several analysts that China has yet to hit bottom.

"We will not see good export and import figures in the first and second quarters due to the slowing global economy," said Zhang Shiyuan, an analyst with Southwest Securities in Beijing.

Demand for crude oil has been one of the casualties of the slowdown, and on Wednesday the International Energy Agency said fuel demand this year would contract by about a million barrels a day, double its previous estimate.

Interest rates, too, have been tumbling since the crisis began, with Sweden halving its principal rate to a record low 1 percent on Wednesday.

A number of European Central Bank policymakers said on Wednesday that the euro zone was also likely to se混合机 弹簧 弹簧 クレジット 現金化 Waterproof socks 弹簧 クレジットカード 現金化 口コミ 被リンク

China ReShanghai real estatesources Enterprise to sell 10% JV stake to Atsugi
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China Resources Enterprise to sell 10% JV stake to AtsugiPublished: 18 Dec 2008 02:33:48 PST

Dec. 18, 2008 (China Knowledge) - Hong Kong-listed investment holding company China Resources Enterprise Ltd<291> announced that it has agreed to sell a 10% stake in Yantai Atsugi CRC Stocking Co to Japan-based Atsugi Co for US$5.7 million (HK$44.30 million).

China Resources Enterprise said in a statement that it expects to record a disposal gain of HK$34 million on the stake sale. Proceeds from the sale will be used to replenish its working capital.

After the deal, China Resources Enterprise's stake in Yantai Atsugi will reduce to 5%, while Atsugi's shareholding will rise to 95%.

Yantai Atsugi is mainly engaged in manufacturing plaited yarn, pantyhose, socks and related products in China, according to the joint venture's profile.

China Resources Enterprise announced last month that its net profit for the first nine months of this year dropped to HK$2.16 billion, down 52% from HK$4.50 billion recorded in the same period of last year.

Shares of China Resources Enterprise gained 2.88% to close at HK$ 14.30 on Wednesday.

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