SMEs in S China to get financial aid amid global economic meltdown
December 7, 2008
Guanngdong province is coming in front of the regions hardly hit by financial crisis. Financial crisis most affected Guangdong due to the the fact that Guangong hosted low-end manufacturing industries depending on cheap labor widely. Now both nation-wide and regional support coming up one by one, here is one of the latest from Xinhua:
(Xinhua) — Authorities of south China’s Guangdong Province approved a financial plan on Friday to help small and medium-sized enterprises (SMEs) to survive the global financial crisis.
The provincial government will inject more than 10 billion yuan(1.45 billion U.S. dollars) as of next year in loan granting, tax reduction, business transformation and upgrading, and improving government services to SMEs, which are facing “unprecedented business difficulties and challenges”, Wang Yang, Guangdong’s party chief, said at a working conference on SMEs here.
The fund includes 1 billion yuan for technological innovation, 1 billion yuan as government mortgage for bank loans, and 200 million yuan to expand export, according to the plan. Other details are yet to be announced.
The initiative will be a key part of the province’s planned measures next year to allocate more investment to support SMEs development in the hard times, Huang Huahua, governor of Guangdong, said at the meeting.
The province had decided to earmark at least 8.5 billion yuan for business transformation of SMEs between 2009-2010, two years earlier than the original schedule.
The deepening global economic downturn has affected Guangdong, a famous home of labor-intensive and export-oriented companies, as demand of foreign buyers has continued to decline. However, many enterprises suffering shrinking orders or business suspension, predicted the hardest time may come next year.
The central government of China is revising policies and hopes to stimulate domestic demand to keep the national economy stable.
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Purchasing index drops to record low
December 1, 2008
Manufacturing Purchasing Managers’ Index is important in a sense that it is a gauge indicating overall conditions of manufacturing. According to Shanghai Daily Newspaper, the China Index fell to a record low in November, here is the news :
PURCHASING INDEX DROPS TO RECORD LOW
Shanghai Daily by Wang Yanlin
The China Manufacturing PMI dropped to 40.9 points last month, down from 45.2 in October and 47.7 in September, said CLSA Asia Pacific Markets today.
Any reading below 50 indicates a contraction. The index has fallen four straight months.
“Production contracted at the sharpest rate in the survey’s history during November. Firms generally attributed the latest fall to a drop in orders, reflecting fears of a protracted economic downturn and uncertainty in financial markets,” said the CLSA report.
Peng Ken, a Citigroup economist, said the weakness in the PMI pointed to further declines in industrial production.
“Likely in response to the PMI figures, the central bank raised the reference exchange rate to the highest in more than three years today,” said Peng. “This would fuel further speculation in a bigger depreciation in the yuan.”
China’s manufacturing sector faces sagging external demand. China’s export growth fell below 20 percent in October after traditional trading partners slashed shipments amid the global financial crisis.
Economists predicted sharper declines of overseas sales would follow as the crisis was spreading to the real economy.
The World Bank said China’s gross domestic product may ease to 7.5 percent, the slowest since 1990, next year.
China announced massive fiscal stimulus packages and sharp interest rate cuts last month to boost consumption and spur growth.
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China Machine Tool Industry Research 2008
October 13, 2008
China Machine Tool Industry Research 2008
http://www.reportlinker.com/p091023/China-Machine-Tool-Industry-Research-2008.html
China’s machine tool industry plays an important role in world machine tool industry in recent years. In the aspect of output value, China has accounted 1/4 of the world machine tools. Therefore, the healthy development of China’s machine tool industry will promote the world machine tool industry continues to maintain a rapid development.
According to the National Bureau of Statistics data of whole machine tool industry, in 2007 the 4291 manufactories achieved RMB 274.77 billion in industrial output value, up 35.5 per cent year-on-year; RMB 268.1 billion of sale revenue, an increase of 36.2 per cent year-on-year; throughput of 97.6 per cent, an increase of 0.5 per cent year-on-year.
In 2007, the output of metal-cutting machine tool was 606,835 sets, an increase of 11.7 per cent year-on-year, among NC metal-cutting machine tool 123,257 sets, an increase of 32.6 per cent year-on-year; forming machine tool 172,766 sets, an increase of 9.2 per cent year-on-year, among NC forming machine tool 3,011 sets, an increase of 53.7 per cent year-on-year; Woodworking machinery production and casting machinery 19.2 per cent and 15.4 per cent year-on-year respectively, metal cutting tools fell 0.4 per cent year-on-year.
Machine tool export has continued to grow rapidly. In 2007 it made $5.2 billion, up 36.2 per cent year-on-year, including metal processing machine tool $1.65 billion, increased 39.2 per cent year-on-year, NC metal processing machine tool $500 million , an in crease of 48.2 per cent year-on-year, accounting for 30 per cent of the metal processing machine tool, metal-cutting machine tool $1.22 billion, up 31.6 per cent year-on-year, forming machine tool $430 million, up 66.5 per cent year-on-year.
In 2007, the imports of machine tool was $11.77 billion, an increase of 5.7 per cent year-on-year, among metal processing machines tool $7.07 billion, a decrease of 2.4 per cent year-on-year. China’s foreign trade deficit of metal processing machine tool reached $5.42 in 2007, lower than the same period last year $6.06 billion.
Considering the overheated economy and higher inflation, the central government has tied the monetary policy, which has already affected on some investments, particularly small and medium-sized machine tool investors. China’s machine tool industry is expected to slow down, but, on the other hand, high-value-added products such as NC machine tool, large and heavy machine tool will still keep a strong growth, especially the state key projects and 16 major science and technology projects will boost the domestic demand for high-technical NC machine tool. China is expected to maintain a strong demand for NC machine tool in the next three to five years; in particular the large-scale NC machine tools will remain a 30 per cent growth.
Contents1 The Circumstance of Global Machine tool industry1.1 Production1.2 Consumption1.3 Import and Export1.3.1 Export1.3.2 Import1.3.3 Total Amount of Imports and Exports1.4 Summary2 The Circumstance of China’s Machine Tool Industry2.1 The Performance of the whole Industry2.2 The Products of Metal-Cutting Machine Tool2.2.1 Output2.2.2 Value of output2.2.3 Value of output/per unit2.3 Import and Export of Machine Tool Industry2.3.1 Import and Export Amount2.3.2 Export destination2.3.3 Import region2.3.4 Export Products2.3.5 Import Products2.4 The competition pattern in Machine Tool Industry2.4.1 Types of Ownership2.4.2 Concentration of Machine Tool Industry2.5 Impact of Policy3. The future development trend3.1 The Domestic Products will Gradual Substitute Overseas Products3.2 Upgrading of Product Structure and high-technical Products3.3 Expansion of Export3.4 The Rising Price of Cast Iron and Increasing Cost4 key Companies4.1 Kunming Machine Tool4.1.1 Brief4.1.2 Performance4.1.3 The main Business-machine tool4.2 Zhejiang Tianma Bearing Co., Ltd / QIQIHAR HEAVY CNC EQUIPMENT CORPORATION LIMITEDFigure IndexThe Proportion of China’s NC Machine Tool of Metal-cutting Machine Tool 2000-2007The Output Value and Year-on-Year Growth of World Major Manufacturing Countries of Machine ToolsThe value of Output of World Major Manufacturing Countries of Machine tools 2002-2007The Market Share of World Major Manufacturing Countries of Machine Tools 2007The World Machine Tool Consumption of Major Countries 2002-2007The World Machine Tool Export of Major Countries 2002-2007The Output and Growth of China’s Metal-Cutting Machine Tool and NC Machine Tool 2000-2007The Output and Proportion of various products of China’s Metal-cutting Machine ToolThe Output and Proportion of various products of China’s NC Metal-cutting Machine ToolThe Output Value/per unit of China’s machine tool Metal-Cutting tool ProductsForeign Trade Deficit of China’s Machine Tool IndustryThe Amount of Export and Import and Growth rate of China’s Metal-working Machine Tool 1995-2007Foreign Trade Deficit of China’s Metal-working Machine Tool 1995-2007The Export Destinations and Growth of China’s Metal-working Machine Tool 2007The Share of Import Countries of China’s Metal-working Machine Tool 2007The Share of Export Countries of China’s Metal-working Machine Tool 2007The Amount of Exports and Growth of China’s Metal-Cutting Machine Tool Products Jan-Oct 2007The Amount of Imports and Growth of China’s Metal-Cutting Machine Tool Products Jan-Oct 2007The Ownership of Machine Tool IndustryThe Impact of tax policies on Machine Tool listed companiesComparison of Market Share Between Import and Domestic Metal-working Machine Tool 2001-2007The Amount of Foreign Trade Deficit and Growth of China’s Metal-cutting Machine Tool ProductsThe Output, Import and Growth of China’s Machining CentreThe Value of Output of Machining Centre and Proportion of Total Metal-Cutting Machine Tool of Major Countries 2006The Amount of China’s Metal-Cutting Machine Tool Exports and the proportion of Output Value and compared with the world average LevelThe Price Index of China’s scrap, cast iron, cokeThe Cost of Machine Tool IndustryThe Incomes and Growth of Net Profit of Kunming Machine Tool 2002-2007The Revenue of Kunming Machine Tool Main Business 2004-2007The Revenue of Machine Tool Business of Kunming Machine Tool 2003-2007Comparison of the Gross Profit Among Major Machine Tool CompaniesTable IndexThe Operation of Metal-Cutting Machine Tool IndustryThe Top 10 Output and Value of Output of Metal-Cutting Machine Tool Manufactories 2006The Top 10 Output and Value of Output of NC Metal-Cutting Machine Tool Manufactories 2006Bain Model of Industrial ConcentrationCosts Constitute of HT250 Hot MetalThe Impact of Rising Costs of Cast Iron on the Machine Tool industry’s Cost and Gross ProfitTo order this report:
China Machine Tool Industry Research 2008
http://www.reportlinker.com/p091023/China-Machine-Tool-Industry-Research-2008.html
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China Reduces Import Taxes on Equipment Spare Parts
September 17, 2008
16 September 2008-China has reduced import taxes on spare parts of large equipment in an effort to aid domestic manufacturing.
Taxes paid by domestic manufacturers of large equipment for imports made after Jan. 1, 2008 will be refunded. These include key spare parts of large equipment such as ultra- and extra-high voltage transmission equipment and transformers, large petro-chemical equipment and large coal-chemical equipment.
The government has also canceled the import tariff exemption on some complete sets.
The tax exemption does not apply for the approved importation of some complete sets of equipment by domestic and foreign-funded projects made after Sept. 1.
On the other hand, imports of such equipment by enterprises approved before Sept. 1 will continue to enjoy previous tax policies until March 1,2009.
Source:Xinhua
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Development Urged in Heilongjiang
September 8, 2008
Heilongjiang is part of northeast China (Manchuria), the traditional base of industry for the People’s Republic of China. Industry is focused upon coal, petroleum, lumber, machinery, and food. Due to its location, Heilongjiang is also an important gateway for trade with Russia.
Heilongjiang possesses the country’s largest forest zone, with a total area of 18.8 million hectares.
In contrast, it has rich coal reserves and electricity generation capacity in its power zone. The area includes the resource-rich cities Mudanjiang, Jiamusi, Jixi, Qitaihe, Shuangyashan and Hegang. The zone has 92% of the coal in the province.
Top Chinese political adviser, Jia Qinglin, on a visit there urged new social and economic development. This fits in with the government’s country’s strategy to revitalize the old industrial base.
Jia Qinglin, chairman of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), made this known during an inspection tour of Heilongjiang. He visited local farms, enterprises and research institutes.
He said Heilongjiang, the country’s largest production base of commodity grain, should make further efforts on grain production, by increasing agricultural input and infrastructure construction.
In addition, the province should promote the development of agricultural science and technology, and further arouse farmers’ initiatives for farming.
Meanwhile, Heilongjiang, as one of China’s important industrial bases, should encourage its equipment manufacturing industry.
Jia Qinglin, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, showed great concern regarding local ethnic minorities’ lives, saying the government should continue to help them lead harmonious and happy lives.
Source: English People’s Daily Online
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