China's New Plan to Set 30t Yuan Retail Sales Target (16.6.2011)
China will release its first domestic trade and logistic plan for the 12th Five-Year Plan (2011-2015)and set a target for total retail sales to reach 30 trillion yuan ($4.63 trillion) by 2015, EconomicInformation Daily reported Thursday.
The plan will position logistics as the leading and fundamental sector in the national economy andwill set a series of targets. Targets will include the sales of producer goods reaching 70 trillion yuanby 2015, the e-commerce transaction reaching 12 trillion yuan and online retail sales reaching 2trillion yuan.
China to Encourage Private Investment in Telecom (16.6.2011)
China is drafting a plan to encourage private capital investment in the telecommunications industry,allowing private sector and State-owned telecommunications operation companies to form a new firm, according to unnamed experts who have knowledge of the matter, the Securities Daily reportedThursday.
The information has not been confirmed by the Ministry of Industry and Information Technology(MIIT), but some scholars and experts claim they have learned about the matter, only the details arestill under discussion
China Predicted to Pass Japan as Top Luxury Market in 2012 (9.6.2011)
China is expected to replace Japan as the world's top consumer of luxury goods by 2012 due to its growing demand and the declining consumption in Japan, the World Luxury Association (WLA) said Thursday. The luxury goods sales value in the Chinese market (excluding private jets, yachts and luxury cars) will hit 14.6 billion U.S. dollars in 2012, the WLA predicted in a survey released in Beijing. That would be an increase from 10.7 billion U.S. dollars in a 13-month period from Feb. 2010 to March this year, according to the WLA. The survey ranks China second with a 27% market share of global consumption by the end of May, slightly lower than Japan's 29%, and higher than 14% for the United States and 18% for Europe. According to the survey, Chinese spent more on luxury goods overseas, such as the 50-billion-U.S.-dollars worth of purchases of luxury goods solely in Europe last year.
Trading in China's four commodity futures exchanges surged 22.58% in the first five months of this year, the China Futures Association said on Wednesday.The value of China's futures transactions rose to 56.6 trillion yuan ($8.71 trillion) in the Jan-May period. In May alone, the volume of the futures transactions hit 93.81 million lots, and the transaction value gained 12.39% from one year earlier to 12.03 trillion yuan. China has four futures exchanges, with agricultural commodities mainly traded on the Dalian andZhengzhou commodity exchanges, while metals are mainly traded on the Shanghai FuturesExchange, and stock index futures contracts are traded on the China Financial Futures Exchange
China Updates ‘Catalog of Encouraged Technology and Product Imports’ (26.5.2011)
China’s Ministry of Commerce (MoC) issued the 2011 version of “Catalog of Encouraged Technology and Product Imports” on April 18, replacing the old catalog released in 2009. The encouraged technology and product imports in the Catalog – which the MoC updates from time to time – cover the importation of various advanced technologies, essential equipment and components, critical resource products as well as raw materials. The Catalog shows China’s desire to obtain core technologies overseas and purchase key equipment/components it currently lacks the capability to manufacture.