Inflation and costs curb growth
September 1, 2008
RISING raw material costs and inflation restrained the profit growth of listed companies on the Chinese mainland in the first half of this year.
Shanghai-listed companies earned a combined 481 billion yuan (US$70.2 billion) in net income in the period, rising 15.85 percent on a yearly basis, much slower than the 69.2-percent growth at the same period a year earlier, according to the Shanghai Stock Exchange.
Revenue for the 863 companies rose 24.98 percent to 4.54 trillion yuan, while costs rose 35.65 percent to 3.98 trillion yuan in the period, the Shanghai bourse said on its Website today.
“Most listed companies kept an upward trend in profit by boosting main business and controlling costs despite hiking material costs and rising inflation,” the bourse said in a statement.
The Shanghai Composite Index tumbled about 50 percent in the first half, equivalent to a 14 billion-yuan loss in market value. Rising raw material costs drove the country’s consumer price index up 7.9 percent in the period.
Stated-owned enterprises controlled by the central government accounted for 83 percent of the combined profit in the period, contributing 67.49 percent to the growth.
The finance industry outperformed other industries as its combined profit accounted for 53.52 percent thanks to the expanded interest spread, intermediate business of banks and decreased tax rates, the statement said.
Meanwhile, 488 companies listed in Shenzhen rose 16.13 percent in net income to 58.72 billion yuan and revenue advanced 23.11 percent to 944 billion yuan, the Shenzhen bourse said in the separate statement.
Source:Xinhua
Tags: Exchange, chinaparking website, inflationRelated Posts:
Minimum wage hike in Guangdong to attract workers
June 21, 2008
Guandong province, which has the largest provincial economy in China, is in recent years struggling with labor shortages after decade longs booming.In a move to attract more migrant workers,a minimum wage hike is now being planned.
Here is from Chinadaily;
Authorities in this manufacturing hub of Guangdong province are planning a hike in minimum wages to attract more workers to the Pearl River Delta (PRD) and plug a labor shortage, an official has said.
The new minimum wage in the region will be equal to or higher than special economic zone Shenzhen’s adjusted minimum wage, which will be implemented on July 1, Chen Siyi, director of the wage division of the Guangdong labor and social security department.
In downtown Shenzhen, the minimum wage will be set at 1,000 yuan ($145) a month. It will be raised to 900 yuan a month in suburban areas.
The increases are 17.6 percent and 20 percent respectively from the previous year.
The current minimum wages in the whole of Guangdong are divided into five categories, ranging from 450 yuan to 780 yuan, according to the consumer price index of different cities.
The authorities are still studying the implementation date of the minimum wage and gathering feedback, Chen said, with detailed preparations being carried out by early next year.
“It is necessary to improve the minimum wage, especially in the PRD, so as to maintain the appeal of the industrial hub of South China for migrant workers,” Chen said.
It is also an effective way to draw high-quality and skilled labor to the delta, he said.
Similarly, improving the minimum wage will help balance price inflation and guarantee a quality of life for workers, Chen said.
Huang Yaojin, a migrant worker employed by a food processing factory in the city of Dongguan, said he is very happy the minimum wage will be increased.
“Everything is much more expensive than before, including food, housing and basic necessities,” Huang said.
“It will be very difficult to survive here if wages stay the same as before.”
However, a number of business people are worried the higher minimum wage will exacerbate the current difficulties faced by labor-intensive manufacturing industries in the PRD.
“The new labor contract law has significantly increased our costs,” Liu Hanmin, a manager of Dongguan Taisheng Furniture Company, said.
“If labor costs keep rising, we will move out of Guangdong province.”
Source: Shanghai Daily
Tags: China's parking industry, chinese car park, wagesRelated Posts:
Cesena Automatic Underground Parking System, Italy
June 16, 2008
CarparkingNewIndia:The late 1990s saw the first commercial installation of a brand new, completely automated parking system. TREVIPARK was a new construction and engineering development that provided an alternative parking system ideally suited for use in inner city and urban settings. The TREVIPARK system solves many of the traditional problems associated with urban parking; congestion, pollution, land space, security; through the installation of compact, circular, underground silos that optimise space, are easily installed, and are completely automatic. The first installation of this modular, automated parking system was in Cesena, Italy. The local authorities sought a parking solution that would minimize interference in the surrounding area, both to underground utilities and existing overland structures. The compact TREVIPARK system offered a number of features that led to its approval by the Italian authorities. These included automatic parking without the driver; vehicle parking utilising a 360° vertical, rotating lift placing vehicles directly into a parking bay; average parking and retrieval time of 50 seconds; and high security. Due to its compact design it could be placed in close proximity to existing buildings in the town centre. The garage holds up to 108 vehicles.
AUTOMATED, UNDERGROUND PARKING SYSTEM
The design for Cesena was chosen for it innovative use of space and its structural strength; the circular nature of the TREVIPARK system is integral to the vertical lifting device which operates under uniform dimensions throughout, gives optimal area containment, and creates an extremely strong structure that will resist deformation under stress. Drivers stop their vehicles on a parking lane. After exiting the vehicle and inserting a card at an automatic telling machine the system, through multiple sensors, performs various security and height checks and then conveys the vehicle to the lift. From here the lift descends, rotates and transfers the vehicle into an available parking bay. Drivers can retrieve their vehicles using the same card at the exit point.
CONSTRUCTION AND OPERATION
The underground parking ‘silo’ is a reinforced concrete cylinder. This continuous concrete diaphragm wall is 18.8m internal diameter. The silo is up to nine levels deep. Each level is 2.3m in height. The internal parking stalls are constructed from pre-cast reinforced concrete. They are radially placed around the perimeter of the cylinder to receive 12 vehicles on each tier. The lift structure occupies the centre of the cylinder. It features a rotating steel tower with car-lift and an automated trolley for vehicle deposit and retrieval. The lift moves vertically while rotating simultaneously to deliver vehicles to the parking stalls. Electro-mechanical and electronic devices and sensors are an important feature to check for movement of any cars during transit. The only above ground construction is a pylon for receiving magnetic parking cards.
ENVIRONMENTAL IMPACT AND SAFETY
Due to its reduced entry and exit bay sizes and automatic operation TREVIPARK offers a number of environmental advantages over conventional parking systems. This includes reduced energy consumption, air and noise pollution. Its compact construction allows for minimal impact on existing architecture and road systems. It fits in with existing structures without being a concrete eyesore. The system is very user friendly and safety is heightened by its automatic operation. There is no reason for anybody but system technicians to enter the underground levels. The system also features advanced fire-fighting, anti-flood, ventilation and security systems that are computer controlled and constantly monitored by a control centre. OTHER INSTALLATIONS To date there are nine systems that are operational across Europe. Currently systems are being constructed in Stockholm, Turin and Rome. Systems are subject to planning permission in London and Copenhagen. Following the initial Cesena installation of two silos, four subsequent silos have been installed with a total of 312 spaces. Design features are also variable; underground levels range from one to nine, optional kiosks for sheltered and secure waiting areas can also be incorporated into any design. The underground structure can also be used as part of the foundation system for any above ground structures built on top of the car park. TREVIPARK can also be built as an over ground car-parking facility.
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Loading bay for the underground parking system in the Piazza Fabbri, Cesena, Italy. |
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The TREVIPARK system solves many of the traditional problems associated with urban parking; congestion, pollution, land space and security. |
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The underground parking ‘silo’ is a continuous, reinforced concrete, diaphragm cylinder, 18.8m internal diameter. |
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The internal parking stalls were constructed from pre-cast reinforced concrete and radially placed around the perimeter of the cylinder to receive 12 vehicles on each tier. |
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Compact construction was minimally invasive to surrounding structures. |
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The lift structure occupies the centre of the cylinder. It features a rotating steel tower with car-lift and an automated trolley for vehicle deposit and retrieval. |
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