介绍:
China's Export to Pick up in H2: MoC
China's Ministry of Commerce says the country's exports are expected to increase in the second half of this year as the global economy, especially the U.S. economy, is picking up.
Stats from the Customs shows China's export in the first half of this year went up just one percent from the previous year.
At a news conference on Tuesday, ministry spokesperson Shen Danyang said although growth is low, China's export performance is still stronger than most major economies.
"The growth rate doesn't seem high, but we think it is very valuable. If we make a horizontal comparison, our export performance is the strongest among all global major economies in terms of both scale and growth rate, as shown by the latest statistics released by the WTO that China's export growth is the best among developed countries, major economies, and BRICS countries."
Also at the news conference, the ministry reported that foreign direct investment in the Chinese mainland rose 0.7 percent year on year last month to about 14.5 billion U.S. dollars.
The growth slowed sharply from a 7.8-percent rise in May.
In the first half of the year, FDI, which excludes investment in the financial sector, stood at some 68.4 billion U.S. dollars, up 8.3 percent from the same period last year.
WTO Negotiators Agree Tariff Cuts on more IT Products
Anchor:
WTO negotiators seeking to eliminate tariffs on IT products agreed to over the weekend to expand the list of items covered.
Participants from 54 nations had struck a tentative deal to add about two hundred IT products on which tariffs would be dropped.
WTO said the list had an annual trade value of one trillion U.S. dollars.
Products on the list include semiconductors, MRI machines, GPS devices, loudspeakers and video game consoles.
Negotiators expect their respective governments will sign off on the deal by Friday.
For more on the tariff cuts, CRI's Shane Bigham earlier spoke with Gao Shang, analyst with Guantong Futures.
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Back anchor:
Gao Shang, analyst with Guantong Futures, speaking with CRI's Shane Bigham.
Chinese SOE profits edge down in H1
Official data shows the profits of China's state-owned enterprises continued to fall in the first half of the year, but at a slower pace.
SOEs' combined profits dipped 0.1 percent from a year earlier to 1.2 trillion yuan or about 201 billion U.S. dollars in the first half of this year.
The rate of decline narrowed from a drop of 3.3 percent for the January-May period.
SOEs in transport, chemicals, electronics and power generation sectors saw strong increases in profits.
While the coal mining, steel, petroleum and petrochemical industries posted notable profit drops.
The Ministry of Finance said SOEs' profits have been steadily improving since the January-February period as the economy appears to be stabilizing with the filtering through of pro-growth measures.
China has cut benchmark interest rates three times this year while lowering banks' reserve requirement ratio.
It also accelerated fiscal spending on infrastructure to shore up investment.
China cuts retail fuel prices
China is expected to cut the retail prices of gasoline and diesel from Wednesday.
The nation's top economic planner has announced that retail prices of gasoline and diesel will fall by 265 yuan or 43 U.S. dollars per ton.
This is the sixth reduction since the beginning of the year.
The cut comes after oil prices in international markets have decreased over concerns about the Greece debt crisis.
Chinese car rental firm eHi receives 242 mln USD in financing
Chinese car rental firm eHi Car Services has reached a deal with a Chinese policy lender for some 241 million U.S. dollars of funding.
The deal with China Development Bank will allow eHi to receive 1.5 billion yuan in credit through multiple financial instruments for five years.
The funding will be used to expand eHi's existing network and car fleets.
The deal also includes car-related fixed asset investment by the Shanghai-based eHi and CDB's Shanghai branch.
The company reported a 60.7-percent rise in revenue during the first quarter this year and 3.6 million yuan in profits.
This was the first time the car rental service has been profitable after floating its shares on the New York Stock Exchange in November last year.
Australia Signs Live Cattle Export Deal with China
The Australian Ministry of Agriculture has announced a breakthrough in live cattle export trade negotiations with China.
Veterinary authorities from the two countries are formalizing agreements on animal health certification requirements.
The requirements will allow the industry to begin to prepare the commercial and Exporter Supply Chain Assurance System (ESCAS) arrangements for trade to commence.
Once the agreement is formalized, exporters will be able to begin working with importers in China to implement the ESCAS and establish supply chains that meet the requirements.
Australian Ministry of Agriculture estimates that live cattle trade with China will be worth up to nearly 1.5 billion U.S. dollars in ten years.
China's Spring Airlines to buy 21 Airbus planes
China's largest low-cost carrier Spring Airlines is planning to raise 4.5 billion yuan or 735 million U.S. dollars to buy 21 Airbus A320 jets.
The Shanghai-listed company is to fund the purchase through a private placement of shares.
More than 80 percent of the money raised will be spent on the purchase of the Airbus planes.
The rest will be used to improve inflight WiFi, upgrade information management and build its online ticket sales platform.
Spring Airlines currently operates more than 90 domestic and international routes.
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