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April 25 - China's tax incomes grew 10.3% to ¥2.59 trillion in Q1 2012, the Ministry of Finance said. The quarterly growth rate, the slowest in three years, was held back by decreased personal income taxes and taxes related to the cooling real estate industry.
April 20 - China's EMS industry delivered 1.04 billion parcels, fetching ¥21.61 billion, in Q1 2012, China Post said. The revenue was up 38% from the same period a year ago.
April 19 - China's state-owned enterprises reported ¥9.46 trillion in revenues and ¥482.86 billion in gross profits for the first three months of 2012, up 12.9% and down 9.1% respectively from the same period a year ago, the Ministry of Finance said. Rising operating expenses were behind the decline in earnings.
April 17 - Foreign direct investment in China fell 6.1% year on year to $11.76 billion in March, marking the fifth straight declining month, the Ministry of Commerce said.
April 13 - China's gross domestic product expanded 8.1% year on year to ¥10.8 trillion in Q1 2012, the slowest quarterly growth since Q2 2009 due to a slowdown in exports and the real estate market, the National Bureau of Statistics said. Output from the primary sector was up 3.8% to ¥692.2 billion; output from the secondary sector was up 9.1% to ¥5.15 trillion; output from the tertiary sector was up 7.5% to ¥4.96 trillion. Urban disposable incomes averaged ¥6,796 between January and March, up 14% from the same period a year ago.
April 13 - Fixed asset investment in China rose 20.9% year on year to ¥4.79 trillion in the first three months of 2012, the National Bureau of Statistics said. Fixed asset investment in the primary sector was up 35.8% to ¥88.6 billion; fixed asset investment in the secondary sector was up 24.6% to ¥2.13 trillion; fixed asset investment in the tertiary sector was up 17.6% to ¥2.57 trillion.
April 12 - Total assets of China's central government-owned enterprises have grown from ¥7.13 trillion in 2002 to ¥28 trillion in 2011, the State-Owned Assets Supervision and Administration Commission said. Their annual revenues surged from ¥3.36 trillion to ¥20 trillion over the period; 38 of them were listed as the world's top 500 corporations.
April 11 - China had 404 mergers and acquisitions involving ¥120.63 billion in Q1 2012, down 50.1% and 43.9% respectively from a year earlier, according to ChinaVenture. Energy and mining was the most active industry with 65 transactions valued at ¥55.95 billion recorded during the period.
April 11 - The average household income in urban China is 3.5 times that of rural dwellers, according to a report by the Asian Development Bank.
April 11 - China will create a cross-border payment system for the Renminbi to strengthen currency's international role, the central bank said. The system, expected to take one to two years to build, will cover Asia, Europe, America and Africa for trade and investment transactions. Cross-border transactions settled in the Renminbi exceeded ¥2 trillion last year.
April 11 - China has forbidden central government-run enterprises from investing in overseas industries that are unrelated to their main business, the State-Owned Assets Supervision and Administration Commission said. Special needs to make such investment require approval from the commission. The directive is understood to control risks of unfamiliar industries overseas.
April 10 - China's bilateral trade grew 7.1% to $325.97 billion in March, where exports were up 8.9% to $165.66 billion and imports were up 5.3% to $160.31 billion, generating a $5.35 billion trade surplus, according to customs figures. The trade surplus was bigger than expected. For the first three months of 2012, China's bilateral trade grew 7.3% to $859.37 billion, where exports were up 7.6% to $430.02 billion and imports were up 6.9% to $429.36 billion, generating a $660 million trade surplus.
April 5 - China's non-manufacturing purchasing managers index rose 0.7 points from a month earlier to 58 in March, signaling a strong service sector, according to figures from the National Bureau of Statistics and the China Federation of Logistics and Purchasing. By contrast, HSBC's reading for the index was 53.3, lower than the 53.9 reported for February.
March 31 - China's current account surplus dropped 15% to $201.7 billion in 2011, the State Administration of Foreign Exchange said.
March 30 - The average annual salary in Shanghai grew 10.9% to ¥52,655 in 2011, with the financial, power generation and water supply industries topping the rankings with ¥167,173, ¥99,457 and ¥95,958 respectively, according to the city's statistics bureau. The civil services, hospitality and agriculture industries reported the lowest salaries of ¥23,242, ¥30,439 and ¥31,765 respectively last year.
March 29 - The US exported $103.9 billion worth of goods to China in 2011, according to the US-China Business Council. This was the first time the value cracked the $100 billion mark. Produce, electronics, chemicals, aircraft and transport equipment were the major items China imported from the US. China was the US's third largest export market.
March 22 - China's gross domestic product will grow 8.4% and the government will be able to keep inflation under 3%, predicted Zhu Haibin, chief economist at JPMorgan Chase & Co China.
March 22 - China's logistics costs grew 12.3% year on year to ¥1.3 trillion in the first two months of 2012, according to the China Federation of Logistics and Purchasing.
March 21 - Xia Bin, an adviser to China's central bank, urged more autonomy for the monetary authority as the country prepares to free up interest rates and increase the Renminbi's role as an international currency, Bloomberg reported. The People's Bank of China should be given more power regarding certain short-term and specific monetary policy adjustment and operations, and there is "large room for improvement in how decisions are made," Xia told Bloomberg Television.
$1 = ¥6.28
@2011 China Economy @ The China Perspective.
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