LECTURE 11 NEWS DECEMBER 1319 BBUSINESS.docx

LECTURE 11 NEWS DECEMBER 1319 BBUSINESS.docx

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LECTURE11NEWSDECEMBER1319BBUSINESS

LECTURE11NEWS（DECEMBER13-19）B-BUSINESS

1.Morepoliciestocurbinflation

2.Tradefrictionsdent损害，伤害，挫伤（信心、名誉等）China'shigh-techexports

3.Chinacentralbankhighlightsstableprices

4.Waitingforthepostman

5.ForeignbanksboostexpansioninChinainpost-crisisera

6.Chinesefiscaldeficitlikelytodecreasein2011

7.PropertypriceriseslowsinNov

8.ShanghaibourseeyesAsia'stopmarketby2020

9.Mergingculturesandcompanies

10.Distributionsector:

healthyandgrowingbutneedsmoree-commerce

11.Chasingbeautyontheinsideaseagerlyasontheoutside

12.Foxconnhasmorethan1memployeesinmainland

13.Chinapushespublichospitalreformforward

14.ExpertsweighChina'sdevelopmentopportunities

15.Digitallearningmarkettogrow

16.ForeigninvestmentinChinaup38%inNov

17.Chinainflation'reversible'butis'warningsignal'

18.PBOCbidstomaintainstability

19.DHLcontinuestodeliverthegoodsinChina

20.Liquorpricessoaronhighyear-enddemand

21.USeconomist:

RMBisfairlyvalued

22.Bank'sinertiamayhurtexpansion

23.Propertytaxplannotfinal

24.China-UStradetalks'makeprogress'

25.China'sforeigntradetotop$2.9tthisyear:

minister

26.PBOCvowsinterestrateprudency

27.Chinatargetsforeigntrade'balancing'

28.Inflationconcernstodrivefurthergrowthingoldpurchasesin2011

29.Tencentaimsatglobalmarket

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1.Morepoliciestocurbinflation

ByXinZhiming（ChinaDaily）

Updated:

2010-12-1307:

52

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'Stable,relativelyfastgrowth'willbemaintained

BEIJING-ChinavowedonSundaytoincreaseeffortstocombatinflationwhilemaintaining"stableandrelativelyfast"economicgrowth,asconsumerinflationhita28-monthhighof5.1percentinNovember.

"Thepriorityistoactivelyandproperlyhandletherelationsbetweenmaintainingsteadyandrelativelyfasteconomicgrowth,economicrestructuringandmanaginginflationexpectations,"accordingtoastatementreleasedafterthehigh-profileCentralEconomicWorkConference.

ChinesePresidentHuJintaospeaksattheCentralEconomicWorkConferencewhichlastedfromDec10 to12inBeijing.[Photo/Xinhua]

Chinese PremierWenJiabao speaksattheCentralEconomicWorkConferencewhichlastedfromDec10 to12inBeijing.[Photo/Xinhua]

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Theconferencealsoreaffirmedtherecentlyintroduced"prudent"monetaryandpro-activefiscalpolicyfor2011.

Buttomeetthenewmonetarypolicytarget,policymakersmuststrictlyimplementit,analystswarned.

Asurplusofmarketliquidityisamajorcontributortoinflation,analystsagreed.Newyuanlending-akeyindicatorofliquidity-alreadyreachedthetargetsetforthisyearinNovemberandissettoexceeditbytheendofthismonth.

Theconferencemadeitclearthatliquiditywillbe"wellmanaged"nextyearandputapriorityon"stabilizingoverallpricelevels".

ZhouWangjun,seniorofficialinchargeofpriceattheNationalDevelopmentandReformCommission,saidonSaturdaythatChina'sconsumerpriceindex（CPI）,akeymeasureofinflation,coulddroptobelow5percentinDecember.

"Evenifthathappened,thetaskwouldremaindauntingforpolicymakers,"saidZhangXiaojing,senioreconomistattheChineseAcademyofSocialSciences."PricesaretrendingupandafallinDecembershouldnotexcludethepossibilitythattheywouldgoupagain."

Thecurrentliquiditysituationiscomplicatedsinceitisnotduetojustdomesticfactors,saidSunLijian,economistatFudanUniversity.

"USquantitativeeasinghasledtoincreasedliquidityinthemarket,"hesaid."AndmuchofthiscapitalhastargetedChina."

USFederalReserveChairmanBenBernankesaidlastweekthattheFedcouldendupincreasingitspurchaseofUSgovernmentbondsiftheeconomyfailstoimprove,sparkingconcernanewroundofquantitativeeasingisinthepipeline.

Tocontrolliquidity,policymakersmustunswervinglymeetthetargetsetbythecentralgovernmentfornextyear,saidZhang.

XiaBin,economistattheStateCouncil'sDevelopmentResearchCenterandcentralbankadviser,saidearlierthatthewhole-yeartargetfornewyuanloansshouldbe7.1trillionyuan（$1.07trillion）.Othereconomistspredicteditcouldbebetween6.5trillionand7.4trillionyuan.

"Thetargetwillbemeaninglessunlesswecanensureitwillnotbecrossed,"Zhangsaid,addingthatfinancialinstitutionshaveusedvariousmethodstoavoidregulationstomakeloansthatarenotcountedinlendingstatistics.

"Theactualamountofsuchloanscouldbe2-3trillionyuanthisyear,makingthereallendingfigurefarhigherthanthetarget."

Thecentralbankraisedthereserverequirementratio,orproportionofmoneycommercialbanksmustkeepinreserve,onFridayforthethirdtimeinamonth,indicatingadeterminationtopreventliquiditydrivenpricerises,analystssaid.

Despitethelatestmove,"interestratehikescannotberuledout",saidZhang."Wehaveenteredaninterestratehikecycle."

"Regulatorshaveyettoshowtheirteeth,"saidDongXian'an,chiefeconomistatIndustrialSecurities."Theriskofrisinginflationinthefirsthalfofnextyearremains."

Butmeasurestakentocombatinflationcouldhaveunforeseenconsequences,aneconomistwarned.

"Whathasmadethegovernmentextremelycautiousoninterestratesareconcernsabouttheriskofoverdoingit,which,ifcoupledwithothershocks,couldinduceadrasticslowdown,"saidIHSGlobalInsighteconomistXianfangRen.

Theconferencesaiditwouldmakemacroeconomicpoliciesnextyear"cautiousandflexible".

FudanUniversity'sSunsaidthisshowsthatinterestratesarejustoneweapon."Itmeanstighteningmonetarysupplywouldonlybeoneaspectofoverallpolicy,"saidSun."Iftherewasanydrasticeconomicslowdown,thecentralgovernmentwouldshifttofavorablemeasurestorevivetheeconomy."

Theannualconferencemapsoutmajormacroeconomicpoliciesforthefollowingyear.Thisyear'smeetingalsovowedtobridgetheincomegap,improvepeople'slivelihoodandexpandopening-up.

 China'sCentralEconomicWorkConferencefrom2005-2009

December5to7,2009

Basictone:

promotethetransformationoftheeconomicdevelopmentpatternwhilemaintainingstableandcomparativelyfasteconomicgrowth

Majortasks:

Chinavowstoimprovemacro-regulationin2010toensurestableandrelativelyfasteconomicgrowthtoadvanceeconomicstructureadjustment;liftthequalityandefficiencyofeconomicgrowth;boostruraldevelopmentmomentum;deepenreformandopeningup;enhancethemomentumandvigorofeconomicgrowth;promoteastableincreaseinexports;improvepeople'slivingstandards;maintainsocialstability.

December8to10,2008

Basictone:

tomaintainastableandrelativelyfasteconomicgrowth

Majortasks:

Chinaplanstoenhanceandimprovemacro-regulationandimplementproactivefiscalpolicyandmoderatelyeasymonetarypolicyin2009.Itvowstostepupeffortstoincreasefarmers'incomeandstrengthenthedevelopingmomentumofagricultureindustryandruraleconomy;speedupthetransformationoftheeconomicdevelopmentpatternandstructuraladjustment;deepenthereformandopeningup;maintainsocialstability.

December3to5,2007

Basictone:

topreventeconomyoverheatingandinflation

Majortasks:

Chinapledgestoimprovemacroeconomicpolicytomaintainthemomentumofstableandrelativelyfasteconomicgrowth;enhancethedevelopmentofagricultureandtheruraleconomy;promoteinnovationandoptimizationoftheindustrialstructure;pushforwardenergy-savingandemissioncutting;improvepeople'slivingstandards.

December5to7,2006

Basictone:

torealizeasoundandfasteconomicgrowth

Majortasks:

Chinavowstoenhanceandimprovemacro-regulationtomaintainandboostmomentumofeconomicgrowth;focusmoreonboostingruraleconomyandpromotingtheconstructionofanewsocialistcountryside;pushforwardtheoptimizationoftheeconomy'sindustrialstructure;promoteinnovationandurbanization;furtherenhancesocialharmony.

November29toDecember1,2005

Basictone:

tomaintainthecontinuityandstabilityofmacroeconomicpolicy,improvethequalityandefficiencyofeconomicgrowthinanefforttorealizefastandhealthydevelopment

Majortasks:

Chinawillstepupeffortstomaintainthemomentumoffasteconomicgrowth;promotethedevelopmentofsectorsconcerningagriculture,farmersandruralareas;promoteinnovationandadjustmentoftheindustrialstructuretobuildanenergy-efficientandenvironmental-friendlysociety;promotethecoordinateddevelopmentofregionaleconomy;openwidertotheoutsideworld;solveproblemsconcerningpeople'srightsandinterests;promotethebuildingofaharmonioussociety.

Xinhua

2.TradefrictionsdentChina'shigh-techexports

（Xinhua）

Updated:

2010-12-1211:

30

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BEIJING-Anexceptionalgrowthrate,alargetradesurplusandlow-costgoodshavemadeChinathemajortargetofrisingtradeprotectionisminrecentyears.Nowadays,anewtrendhasemerged:

inadditiontolow-endproducts,China'shigh-techexportsareencounteringincreasingtradefriction.

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