【财经看点】工信部副部长苏波:调节过剩产能要靠市场

【财经看点】工信部副部长苏波:调节过剩产能要靠市场

2014-03-24    07'40''

主播: Beijing Hour

380 20

介绍:
China allows market to deal with overcapacity A Chinese official says overcapacity has become a great challenge for the Chinese economy. Vice Minister of Industry and Information Technology, Su Bo says the country needs to let the market play a bigger role in addressing the problem. He was speaking at the ongoing China Development Forum in Beijing. The official notes that reducing production capacity will also help Chinese companies to climb the value chain, and provide opportunities for cooperation between foreign and Chinese companies. "China welcomes foreign companies to participate in addressing the issue and we will further loosen our control in the market, to encourage foreign companies to establish R&D centers in China and collaborate with domestic companies to upgrade industrial production." Initiated in 2000, the China Development Forum is seen as a platform for the international business and academic communities to interact with Chinese decision makers and economic planners. China's preliminary manufacturing PMI sinks HSBC's preliminary purchasing managers' index, or PMI, says China's manufacturing activity contracted for the third month in a row in March, hitting an eight-month low. Data company Markit say the HSBC/Markit China flash manufacturing PMI for March dipped to 48.1 from a final reading of 48.5 in February. PMI above 50 indicates expansion and below 50, contraction. January saw HSBC China manufacturing PMI dipping to 49.5 from 50.5 in December, the first deterioration of operating conditions in China's manufacturing sector since July 2013. HSBC's chief China economist, Qu Hongbin, said March's flash reading is suggesting China's growth momentum is continuing to slow down, and weakness is broadly-based with domestic demand softening further. China tries out preferred shares Anchor: Chinese regulators have unveiled new rules for a trial program allowing companies to sell preferred shares. The China Securities Regulatory Commission says three kinds of companies will be allowed to do so. These include firms listed on the Shanghai Stock Exchange 50 A-Share Index, companies using preferred shares as a way to fund mergers and acquisitions, and companies seeking equity to finance a common stock buyback. Holders of preferred shares have priority over common shares in saying how corporate earnings are used and in asset distribution during liquidation. The SSE 50 A-Share Index surged by more than 4 percent on Friday. It includes 10 of China's largest banks, which are seeking to raise funds to meet the country's tougher capital requirements. For more on this, CRI's Paul James spoke earlier with Mike Bastin, Visiting Professor of China's University of Economics and Business. … That was Mike Bastin, Visiting Professor of China's University of Economics and Business. Singapore's CPI inflation continues to fall in Feb. Singapore's consumer price index, or CPI, rose by 0.4 percent in February year-on-year. That's the slowest pace since 2010, after headline inflation hit a record low of 1.4 in January. The city-state's Ministry of Trade and Industry (MTI) and the Monetary of Authority of Singapore (MAS), which is the central bank, said the decline had been anticipated in the January inflation report and largely reflected the higher base in February last year. The joint statement by the MTI and the MAS says food inflation was 2.3 percent last month, down from 3.0 percent in January "due to the correction in non-cooked food prices after the Chinese New Year as well as the high base last year." Core inflation is expected to rise over the next few quarters. Full year core inflation is expected to be around 2 percent to 3 percent this year, with a similar percentage expected for headline inflation. S.Korea beats Japan to become world No.2 in chip industry The trade ministry says South Korea has overtaken Japan as the world's second largest manufacturer in the global semiconductor industry. Data from IHS Technology, the chip market information provider, shows global market share of South Korean chipmakers reached 16.2 percent in 2013, ranking second behind the 52.4 percent share of the United States. Japan is followed by Europe with an 8.7 percent market share and China's Taiwan with 6.5 percent. The upbeat figure has been attributed to higher market share in the memory chip sector. The market share of system chips stood merely at 5.8 percent last year, following the United States with 67.6 percent, Japan with 8.6 percent, Europe with 8.5 percent and China's Taiwan with 6.7 percent.