2009-04-17 Hefei
Anhui Maanshan experienced growth in foreign economic cooperation during the first quarter of this year, with a turnover of US$80.6 million, up 173 percent over a year ago. Labor export came to 374 person times and laborers staying abroad as of March 31 totaled 1807.
2009-04-14 Guangzhou
In spite of the slip in the IC sector brought about by the global financial crisis, Shenzhen saw year-on-year growth of nearly 25 percent in output value of IC designing, topping RMB6 billion (US$878 million). Facing the challenging economic environment, Shenzhen plans to develop the IC design sector through the building of a robust technology platform, support of funding in research and development and planning the construction of an industrial park specializing in IC design.
2009-04-10 Nanjing
Jiangsu province, China-based Hengtong Group, the country’s leading cable producer, recently launched a marketing and technical service branch in Rio de Janeiro of Brazil, demonstrating the group’s commitment to emerging markets amid the global financial crisis. Cui Genliang, chairman of Hengtong Group, said that the new establishment will help the group further expand into the South American market, facilitating the implementation of its "Going Global" strategy.
2009-04-07 Shanghai
With China's A-shares rebounding continuously, BOCI-Prudential Asset Management is intensifying its efforts to relaunch an exchange-traded fund (ETF) that tracks the Shanghai Stock Exchange 50 Index. The fund has received a go-ahead from the China Securities Regulatory Commission after being able to offer more investor protection.
2009-03-26 Beijing
In 2008, Bayer Schering Pharma’s sales grew more than 50 percent in China despite the global economic downturn. The manufacturer plans to invest 22 million euros (approx. US$29.9 million) in a new production facility in China, in a move to increase its production capacity in the country by 300 percent.
2009-03-05 Beijing
Chinese Premier Wen Jiabao is expected to announce a new economic stimulus plan in his government work report today. JPMorgan Chase's chief China economist Frank Gong, who forecast the new plan first, told reporters yesterday that the new plan may be focused on domestic consumption. Prior to that, a Standard Chartered Bank report had expected the Chinese central government’s new and existing stimulus packages to be valued at up to RMB10 trillion (US$1.5 trillion).
2009-02-18 Wuhan
Wuhan, capital of central China's Hubei province, saw further deterioration in its economy in January 2009 due to the adverse effects of the global financial crisis. The city’s GDP for January up 8.7 percent from a year earlier, repressing the smallest monthly growth rate since 1997. Growth for primary and secondary industries declined sharply for the month.
2009-02-06 Shijiazhuang
Despite the global financial crisis, Hebei province, China delivered gross output value of RMB1618.9 billion (approx. US$236.7 billion) and combined imports and exports of US$38.2 billion in 2008, up 10.1% and 50.5% over 2007, respectively. At the background of the global financial crisis, emerging markets including Latin America, Oceania and Africa developed as the province’ new growth points. The province is expected to continue its economic growth trend in 2009.
2009-02-09 Beijing
The deteriorating global economic climate dictates that companies in China can’t afford to buy additional office equipment. At the same time, the high level of the consumer price index, together with the weak stock market last year, forced the country’s consumers lay aside their purchase plans for printing products. As a result, China’s printing market experienced a tough year in 2008, with sales of printing products estimated at 7.7 million units, down 3.4 per cent from a year earlier.
2009-02-06 Hong Kong
Hong Kong's GDP may contract 2.0 percent to 2.5 percent this year due to increased unemployment rate and credit squeeze, according to a report released by the ratings agency Standard & Poor's. Subir Gokarn, Chief Economist at Standard & Poor's, Asia Pacific, said, with the strong economic support from China mainland, the city’s economy is expected to return to growth next year.
