China Still No 1 for Investment: E&Y
China is still the most attractive destination for foreign investment, followed by India and the US, an Ernst & Young report found, after interviewing 1,500 corporate executives in February and March across 57 countries, including 85 from China. The report also advises China to take advantage of Europe's debt crisis to acquire local businesses.
China Lowers Threshold for Foreign Investors
China has eased assessment of qualified foreign institutional investors (QFII) for long-term commitment to the nation's capital market, pension funds and other investments, the China Securities Regulatory Commission said. Currently there are 33 new QFIIs applying for their first investment in China out of a $10.25 billion quota, and 37 existing QFIIs jockeying for an additional $12.5 billion quota.
One-Third Electronics Makers Stuck in Losses
As many as 5,580 electronics manufacturers, or 33.9% of all those tracked by the Ministry of Industry and Information Technology, reposted losses in the first two months of 2012, and the combined size of the losses soared 86.5% from the same period a year ago. The electronics industry's total profits were thus dragged down by 43.2% year on year to ¥19.4 billion between January and February despite revenues going up 6.2% to ¥1.08 trillion. The exit of a string of stimulus policies pounding the financial and real estate markets took the blame.
¥694m to Be Earmarked for Waste Treatment by 2015
China's government will invest ¥430 billion in wastewater treatment and ¥263.6 billion in harmless disposal of urban domestic garbage during the five years through 2015, according to a plan released by the State Council, the nation's cabinet.
¥7.6t of Transactions Paid by Credit Cards in 2011
The amount of credit card transactions in China jumped 48% to ¥7.56 trillion in 2011, according to a report released by the China Banking Association. The report also found that the number of online billing service users in China grew 21.6% to 167 million last year.
Textile Industrial Output to Top ¥10t by 2020
Industrial output from China's textile manufacturing is expected to double 2011's ¥5 trillion and total textile exports are expected to hit $400 billion by 2020, the China Textile Industry Association said. It also predicted that spending on clothing in urban China would grow 12.5% annually between 2011 and 2020.
$1 = ¥6.29