Manufacturing maintains growth arc
July 2, 2009
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China’s industrial output grows in first 2 months
April 6, 2009
CHINA’S industrial output rose 5.2 percent year on year in the first two months of 2009, with growth slowing from December, the Ministry of Industry and Information Technology said in Beijing yesterday.
The figure was 0.5 percentage points lower than in December, dragged down by plummeting exports and high inventories, according to MIIT.
In February alone, however, industrial output expanded 11 percent from a year earlier, showing that the downtrend appeared to be easing.
Light and heavy industries grew 6.5 percent and 2.7 percent in the two-month period, 1.6 percentage points and 2 percentage points below the respective December figures.
Major industrial exports fell 17.1 percent to 896.8 billion yuan (US$131.3 billion). That represented a 31.9-percentage-point decline from the 2008 level, MIIT said.
Qi Jingmei, an economist with the State Information Center, told Xinhua the figures showed that the Chinese industry was still feeling the impact of the global downturn.
Figures from the National Bureau of Statistics also reflected the impact of the downturn. Profits of major industrial firms shrank 37.3 percent year on year during the first two months of 2009, the bureau said on Friday.
Falling exports also caused declines in light industries like textiles, which in turn affected the upstream sectors, according to Gao Shanwen, chief economist of Essence Securities.
But increases in fixed asset investment, new loans and retail sales in the first two months would help offset the slide in industrial output, Qi said.
Retail sales grew 15.2 percent in the first two months to 2 trillion yuan, while urban fixed asset investment rose 26.5 percent year on year to 1.027 trillion yuan, the bureau said.
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New Development Zone to Take Shape Near Beijing
January 31, 2009
China’s port construction, steel and power giants will pour 192.9 billion yuan (28 billion U.S. dollars) for infrastructure construction in Caofeidian, an island-turned development zone in the Bohai Bay in north China, according to the city government of Tangshan, which administrates the zone.
Xinhua’s source with the government said on Wednesday that 65 billion yuan of the investment will be used for 105 infrastructure projects this year.
The 50-sq km development zone in Hebei Province is 220 km to the east of Beijing. It has been designated as a model of China’s environment-friendly industrial base.
The projects under construction this year will equip the zone with 200 million tons of port handling capacity and an initial industrial production condition for key companies, such as the Beijing Capital Iron and Steel Group’s steel plant, which moved from the capital city’s urban area to Caofeidian in 2007.
The Caofeidian industrial zone was put on China’s list of pilot areas for recyclable economy in October 2005. Chinese President Hu Jintao and Premier Wen Jiabao both paid visits to the zone. They expect it to become a demonstration area for scientific development and recyclable development.
Caofeidian has been mapped to become the country’s largest steel production base by 2010. An evaluation by the country’s environmental watchdog shows the steel plant will ensure 99.5 percent of solid waste and 97.5 percent of waste water are recycled.
State-owned giants like Petro China and Huadian Power Group have also made the zone their energy base.
Caofeidian, once a small sand spit in the Bohai Bay, has extended into a land of more than 50 square km through sea fillings since 2003. The frame of a modern city is beginning to take shape here as crowds of elite technicians and industrial workers swarm to the zone.
Source: Xinhua News Agency
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The Steel Revitalization Plans in China
January 29, 2009
It is reported that the State Council has worked out the steel revitalization plans, which focus on controlling the whole volume, washing out the obsolete capacity and encouraging technical innovation and merger & acquisition to bail out the slumping domestic steel industry.
Mr Wang Yifang Board chairman of Hebei Steel Group said even though the released plan has not cover detailed regulations, it will provides timely help for the development of the steel enterprises in Hebei province, the largest steel production base in China. To the large-sized steel mills, the plan means low cost expansion.
As one of the largest steel complexes in China, Hebei Steel Group has enhanced its place in steel industry since it was founded, and became the national major supportive enterprise.
As per local steel assistance plan, total crude steel capacity would be controlled within 80 million tons by 2020. In order to realize the goal, the province has to concentrate the quality steel resources by promoting the progress of M&As. Most experts believe that the steel revitalization policy will lay a solid floor for the further development of Hebei steel industry.
According to the plan special funds will be allocated from the central budget to encourage technological advancement of the sector, readjustment of products mix and improvements of product quality
As one of the pillar industries in Hebei province, the steel industry contributes more than 25% of the provincial total industrial profits in recent years. However, it still lacks of competitiveness since most local produced products are primary one, with few high value-added and high-tech contained products.
The local government should draw some supportive policies in line with the steel revitalization plan to encourage the technologic innovation. Only in this way, can Hebei province form high quality vanadium and titanium, construction steel and slabs production lines with high value added products, and end the extensive develop pattern in local steel industry.
Source: China Steel net.com
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China to decide soon whether tolling is okay
December 30, 2008
CHINA is the world’s biggest metals consumer. Here is the news important for buying products directly or indirectly related with copper:
(XINHUA) : CHINA, the world’s biggest metals consumer, is close to deciding whether to allow tax-free imports of copper concentrate and primary aluminum for processing into export-bound products to boost industrial production.
The government should make a decision soon on whether to allow the practice, known as tolling, Wen Xianjun, vice president of China Nonferrous Metals Industry Association, said yesterday.
China has been restoring tax benefits for overseas metals sales to encourage exports, which fell for the first time in seven years last month, and to boost industrial production that grew at the weakest pace in almost a decade.
“This is to help Chinese metal processors maximize capacity at a time when the global slowdown has reduced demand,” Wen told Bloomberg News. China ended tolling for some metal raw materials last year in an effort to curb expansion in the energy-intensive and polluting sector.
Raw material imports under tolling trade would be exempt from export duties and value-added tax, Wang Qinhua, head of the markets and trade department of the association, said. Exports of finished goods, which for the pending decision means refined copper and aluminum products, would still be subject to both taxes, Wang said. “Metal processors want the practice back, feeling such production isn’t energy-consuming and is often labor-intensive, which helps employment at this difficult time,” she said.
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