China’s April trade surplus down 1.1% to $16.7 bln
May 12, 2008
- China’s trade surplus reached 16.68billion U.S. dollars in April.
The figure was down 1.14 percent year-on-year but up 24.5 percent from 13.4 billion U.S. dollars in March, and it almost doubled the 8.6 billion U.S. dollars posted in February.
Exports in April rose 21.8 percent over April last year to 118.71 billion U.S. dollars, while imports rose 26.3 percent to 102.03 billion U.S. dollars.
Trade with the EU, China’s largest trade partner, rose 25.4 percent to 129.86 billion U.S. dollars.
The United States secured its place as the second largest trade partner with China, with a total trade volume of 102.34 billion U.S. dollars, up 11.4 percent.
Trade with Japan and the members of the Association of Southeast Asian Nations came to 84.69 billion and 75.14 billion U.S. dollars.
The year-on-year decline reflected weakening external demand caused by the continuing global credit crisis, as well as the government’s prudent monetary policy to reduce excessive liquidity.
The continued strengthening of the yuan was a more significant factor in helping narrow the trade gap, said Zhao. The yuan’s central parity rate against the U.S. dollar surged 185 basis points to 6.98 on Monday. The currency has risen 4.26 percent against the U.S. dollar so far this year.
The credit crisis in the United States could affect other countries and demand could fall as the economy fell into recession, affecting Chinese exports.
Total trade in the first four months hit 791.1 billion U.S. dollars, up 24.4 percent year-on-year. The four-month trade surplus was 58 billion U.S. dollars, down 5.32 billion U.S. dollars year-on-year.
Exports in the four-month period were 424.6 billion U.S. dollars, up 21.5 percent, or 6 percentage points less than a year earlier. Imports were 366.6 billion U.S. dollars, up 27.9 percent, or 8.8 percentage points more than a year earlier.
Source:China Daily
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China’s exports set to drop to 10%
May 6, 2008
- Weak external demand is set to pull down China’s export growth to 10 percent after the 25.7 percent jump in 2007,
The country’s 2008 trade surplus may also drop to 200 billion U.S. dollars from a record 262 billion dollars last year.
China’s trade surplus fell 10.6 percent year on year to 41.4 billion dollars in the first quarter this year, the first time the quarterly figure headed southwards
The nation’s export growth slowed to 21.4 percent in the first three months from 27.8 percent in the same period last year, mainly because of weaker demand from the United States.
However, the country’s export growth in future may be helped by robust exports of electromechanical products.
Exports of electromechanical products, which jumped 23.1 percent in the first quarter of this year from the same period a year ago, have a big potential to grow even more…
(Source: Shanghai Daily)
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Car-park plan for 200-year-old graves
May 1, 2008
SHOCKED families could find their relatives’ graves buried under a car park if a new development in Barton is given the green light.
The 200-year-old Barton Methodist Church and its two cemetery plots are the subject of a planning application which could see the derelict church demolished in favour of a block of 32 flats, and a car park laid over some of the 1,100 graves – believed to contain more than 6,500 bodies.
Ninety-one-year-old Vera Hutchinson buried her six-year-old son at Barton Methodist in 1941 after he drowned in Manchester Ship Canal, but because his death was more than 50 years ago she, like many others, will not be able to have her son’s grave moved elsewhere.
She told The Advertiser: “It’s completely wrong. We’re all very upset about it, we want to know what is going to happen.”
Vera’s nephew, Philip Hutchinson, whose two grandparents are also buried at Barton Methodist, said he ‘could not believe’ what developers Abbotsound Ltd were suggesting, and wondered how many families would never even know about it.
He said: “My gran was the last person to be buried in there in the 1960s and I own one other grave that we are trying to track down. I have sent my letter of objection to the town hall. I know the building had been vandalised and I’m quite happy with the plans to knock down the church – but I’m certainly not happy that they want to change the cemetery into a car park.”
Philip has now vowed to continue fighting the development, and track down the missing graves.
Meanwhile The Advertiser can reveal that the man behind the proposals is Les Hampson, who is no stranger to controversy and planning rows. Earlier this year, as we reported, his Lancaster House development in Hope sparked a furious reaction from local residents, who claimed it was being used as a hostel for ex-offenders.
Mr Hampson, who has always denied claims that Lancaster House was a hostel, said he was keen to work with anyone who has objections to the cemetery plans. He added that he wants to build a memorial garden to allow people access.
“I understand the plans are contentious but it is really common practice throughout the country. We want to work with the people involved and make sure it is tasteful.”
Mr Hampson added he placed public notices in The Advertiser, which were not statutory, because he wanted to be open about his plans.
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