Economy/Resources - 139. page
Reuters Chinese: Chinese Exporters Are Pessimistic about the Business Outlook
People’s Daily: Registered Trademark Exceeds 10 Million but Few of Them are Recognized Worldwide
People’s Daily reported that, by October 7, 2015, the total number of registered trademarks in China exceeded 10 million. This number ranks the highest in the world, but few of them are recognized around the world. The article said that among the exported products, only 11 percent of the products are Chinese brands. In 2014, among the top 500 of the world’s brand names, 29 of them were from China. The article also indicated that some companies register trademarks only to seek profits while ignoring the practical usage of the brands, which is against the requirements of the trademark law in China.
Source: People’s Daily, October 19, 2015
http://finance.people.com.cn/n/2015/1019/c1004-27714357.html
Unemployment Rate for College Graduates from the Countryside Is 30.5 Percent
People’s Daily published an article reporting that the unemployment rate among college graduates who came from the countryside is 30.5 percent. The biggest obstacle that the group faces is a lack of job opportunities. Many of these students attend college with the costs emanating from their parents’ support. They are burdened with high expectations and pressure from the family. Some have had to seek further education hoping the situation might change in the future.
Source: People’s Daily, October 19, 2015
http://edu.people.com.cn/n/2015/1019/c1053-27711962.html
Six Costly Lessons for SOEs Foreign Investments
People’s Daily published an article which listed six mistakes that State Owned Enterprises (SOEs) made when they invested in overseas markets, resulting in huge financial losses. In the article, each mistake was supported by examples. The article stated that Chinese enterprises have a huge potential in the overseas market but they should also be cautious and need to learn the lessons from their past mistakes. The six types of mistakes are as follows: 1) The foreign government called off the contract due to a change in the political environment. 2) The bid price was too low and the actual expenditures came in much higher. 3) They didn’t take environmental issues seriously. 4) They lacked understanding of the local culture and customs. 5) They underestimated the power of the local union. 6) They rushed into certain decisions.
Source: People’s Daily, October 18, 2015
http://finance.people.com.cn/n/2015/1018/c1004-27710400.html
The Continuous Drop of China’s Foreign Exchange Reserves Demonstrates Intense Capital Outflow
On October 7, 2015, FX678.COM, a Forex & Gold media in China, published an article titled, “Foreign Exchange Reserves Data Demonstrates Intense Capital Outflow; Chinese Yuan (Renminbi) Faces the Risk of Further Depreciation.”
China’s foreign exchange reserves dropped US$43.26 billion in September 2015 after a record drop of US$93.93 billion in August. The continuous decline in the foreign exchange reserves indicates that depositors are worried about China’s economy. As a result, capital outflow from China has accelerated.
“The more we want to protect the renminbi and cut interest rates, the more we stimulate depositors to transfer their assets abroad by selling renminbi. Devaluation of the renminbi will not only lead to inflation, but also increase the prices of the commodities that China exports."
Source: FX678.COM, October 7, 2015
http://news.fx678.com/C/20151007/201510071456342079.shtml
Caixin: China Lowers Down Payment Requirement to Prop up Sagging Property Sector
The People’s Bank of China, China’s central bank, and the China Banking Regulatory Commission, its banking regulator, said they would lower the minimum down payment requirement for first-time home buyers to 25 percent, from the previous 30 percent, in cities that do not have restrictions on purchases.