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China Launches First Ocean Economic Zone to Boost Marine Economy (19.2.2011)
China's first ocean economic zone in the coastal province of Shandong was inaugurated Friday when it signed contracts worth 38.6 billion U.S. dollars, signaling the country is enlarging its economic focus from the land to cover the ocean, as well. The Shandong Peninsula Blue Economic Zone inked at a promotional conference in Beijing a package of contacts that include 23 programs valued at 38.6 billion U.S. dollars.The programs covered agricultural technology, new energy utilization, international logistics, tourism and culture, said Fei Yunliang, head of the construction office of the economic zone.
China Hikes Gasoline, Diesel Prices (19.2.2011)
China will raise the prices of gasoline and diesel by 350 yuan (about 53.2 U.S. dollars) per tonne beginning Sunday, the National Development and Reform Commission (NDRC) announced Saturday evening. The adjustment is the first this year but the second one in the past two months. The increase will hike the benchmark retail price of gasoline by 0.26 yuan per liter and diesel by 0.3 yuan per liter, the country's top economic planning body said in a statement on its website. The Chinese government adopted an oil pricing mechanism at the start of 2009 that allowed the NDRC to adjust retail fuel prices when international crude oil prices change by more than 4 percent over 22 straight working days. China last raised gasoline and diesel prices in late December last year by 310 yuan and 300 yuan per tonne, respectively.
56% Surge in Patent Filings Over 2010 (11.2.2011)
China's international patent filings surged more than 56% last year, leading the global growth in international filings, the Geneva-based World Intellectual Property Organization (WIPO) announced.The growth rate from China was "astonishing", WIPO Director General Francis Gurry said at a news conference on Wednesday. In 2010, China filed 12,337 patents under WIPO's Patent Cooperation Treaty system, up from 7,900 cases registered in the previous year, overtaking the Republic of Korea as the fourth-ranked country for patents filed worldwide. The United States, the top international patent applicant, filed 44,855 applications under the treaty. However, that was a 1.7-percent decrease from the year before, and the third consecutive year of decline. Japan followed the US with 32,156 patent filings and Germany came third with 17,171, the WIPO said.
M&A Deals Rose 30% (18.2.2011)
Outbound merger and acquisition (M&A) deals by Chinese buyers increased by more than 30% to a new peak of 188 transactions in 2010, with a value of about $38 billion, according to PwC report. The United States has become a major recipient of Chinese M&A investment with 34 deals in 2010, compared with 21 in 2009. There were also 20 deals in the European Union, 17 in Africa and 16 in Japan last year, the company said. In overseas M&A, Chinese companies dominated in the raw materials and energy sectors, accounting for about 35 percent of the total outbound deals. They were also interested in machinery and equipment manufacturers as well as automotive manufacturers in mature markets, according to the report.
IsCham manager's interview by ChinaDaily (13.2.2011)
"I'm not only focused on what the Chinese can offer Israelis, but also on what Israel can offer the Chinese. My job is fitting this particular plug in the appropriate outlet. ... I think that, in general, the Chinese are wonderful hosts and even though you're a 'lao wai,' you can easily feel at home here"...