Chinese growth increasingly driven by domestic factors The conventional view of China as an export-dependent, outbound-oriented economy needs to be adapted to a changing reality. Economic growth is increasingly coming from within, making China into an increasingly self-propelling economic player. There’s a number of indicators supporting this change of economic pattern. While the traditional markets […]
Renewable energy plan ready for government approval China’s new plan for renewable energy development is finalized and waiting for government approval, according to the State Administration of Energy (SAE). The new energy blueprint calls for total investment in renewable energy projects of more than 2 trillion yuan ($293.3 billion). Priority will be given to wind […]
First signs of recovery in China’s textile sector? Order volumes at the Canton Import and Export Fair, China’s biggest trade fair, exceeded forecast, sparking hope amidst exporters and producers for a recovery of the struggling textile sector. While orders fell 15.6 percent year-on-year in the first quarter of 2009, participants at the Canton Fair were […]
China’s updated renewable energy plan China is expected to announce a new blueprint for renewable energy development. The new industry plan will update a long-term industry plan released in 2007. Initial targets for wind, hydro-, solar, and biomass power as specified in the older plan will be raised significantly. The youngest renewable energy blueprint, for […]
For the fifth year running, Fortune China has published its “25 Most Influential Business Leaders in China 2008” list, the feature article in the April issue. As in the past, selection was based on “leading executives influential within their corporation and industry, and capable of changing things on a wide scale,” both in China and […]
Top Central Banker optimistic about China’s economic performance China’s overall economic performance is better than expected, according to Zhou Xiaochuan, governor of the People’s Bank of China. Beijing’s top central banker expressed his optimism about domestic demand and financial stability in China at the International Monetary and Financial Meeting held in Washington. Mr. Zhou praised […]
China becomes world’s fifth-largest holder of gold Speculations about China’s increasing appetite for gold were confirmed today as Beijing revealed its gold holdings to the IMF. China now holds 1,054 tonnes of gold and has overtaken Switzerland, Japan and the Netherlands to become the world’s fifth-largest holder of gold. Beijing’s increased gold purchase is believed […]
Those who stumbled across the recent Guardian article “China Considers Setting Targets for Carbon Emissions” probably did not fall off of their seats like I did. But at the very least you might have involuntarily raised an eyebrow, or two, and thought “huh, now that’s a game changer.” For people who monitor developments in climate […]
No Chinese investment in African farmland China decided not to follow the growing trend of investing in overseas farmland to outsource food production. According to Niu Den, deputy agriculture minister, outsourcing food production to Africa is not an option for China. While countries like South Korea and Saudi Arabia recently accelerated outsourcing of their food […]
Shanghai, often recognized for its free-market tendencies and environmental leadership, is introducing China’s first municipal trading mechanism as a means to curb pollution. Last Friday, in advance of a major carbon trade industry event taking place in Beijing this week, word began surfacing in the Chinese media that Shanghai plans to pilot an emissions trading […]
In a somewhat rare state-sponsored rally, over 8,000 students gathered in Beijing’s Olympic Park last Saturday to show their commitment to environmental protection. The event launched the newest phase of the “Green Long March,” an ongoing effort to bring youth together and initiate a grassroots-esque environmental conservation movement nationwide. Working with the Communist Youth League’s […]
Beijing authorities have announced that driving restrictions will be extended another year, as part of the city’s overall strategy to reduce airborne pollution and traffic congestion, according to reports from China’s state-run media. The plan hopes to take 930,000, or roughly 20%, of Beijing’s over 3.6 million vehicles off the road each weekday. Starting Monday, […]
Rumors of 10% drop in March exports International Business Daily, a Chinese-language newspaper, cited an unidentified official who is expecting a decline in exports in March of at least 10 percent from a year earlier. Although double-digit, the decline is lower than the drop in exports in February of more than 25 percent. World Bank […]
One day after China’s top climate official, Li Gao, requested that his country’s export sector be exempt from greenhouse gas emissions reductions, U.S. Energy Secretary Steven Chu announced the possibility of levying a carbon tariff on countries that do not match US greenhouse gas emissions restrictions. Chu told a House science panel that such border […]
Signs of recovery in China’s manufacturing sector China’s official purchasing managers’ index (PMI) for March rose to 52.4, up from 49.0 in February. A reading over 50 in the PMI marks an expansion of activity in the manufacturing sector and indicates economic recovery. Output and new orders surged in the manufacturing sector, marking the first improvement […]