Economy/Resources - 261. page

China’s fiscal revenue in 2007 hit 5.13 trillion yuan (733 billion US dollars), an increase of 1.25 trillion yuan, or 32.4 percent over the previous year, released Ministry of Finance on March 5, 2008. Ministry of Finance maintains that China’s fiscal revenue has maintained a rapid growth, not because of State tax increase but as a result of statistical standards, price factors, the difference between the GDP structure and tax structure, tax collection and management, as well as some special factors.

Source: Ministry of Finance of China, March 5, 2008
http://www.mof.gov.cn/news/20080305_3482_31820.htm

China’s Commission of Science Technology and Industry for National Defense released the 2008 China’s shipbuilding industry goals: completion of 22 million dwt, industrial output exceeding 300 billion yuan, industrial value added exceeding 80 billion yuan, exports of 16 billion US dollars, profit growth of 20% and 15 point increase in the aggregated economic efficiency index.

Source: China’s Commission of Science Technology and Industry for National Defense, February 18, 2008 http://www.costind.gov.cn/n435777/n435783/144172.html

According to Outlook Weekly under Xinhua, China’s grain prices will not be affected by the recent fluctuations in the international grain market. From 2004 to 2007, China’s total grain output was 469.5 million tons, 484 million tons, 497.5 million tons and 501.5 million tons, respectively. Currently, China’s grain reserves have reached 35 percent of annual national grain consumption.

Source: Xinhua, February 28, 2008
http://news.xinhuanet.com/world/2008-02/28/content_7682362.htm

44.36 percent of Cina’s drinking water in its rural areas is unsafe, Xinhua reported on February 19, 2008, citing a national survey of drinking water and rural sanitation. The nationwide government survey was the first of its kind with 6,948 water samples were taken from 667 counties, 6,590 villages and 65,000 households. 25.92 percent of the water samples contains excessive levels of micro-organisms such as coliform bacteria. In China, 74.87 percent of rural water supplies come from underground sources, and 25.13 percent from surface sources.

Source: Xinhua, February 19, 2008
http://news.xinhuanet.com/life/2008-02/19/content_7631582.htm

China’s first submarine power cable will be laid through the Qiongzhou Straits this year, connecting the provincial grids of Guangdong and the southernmost Hainan Island. A 34.7-kilometer benthal cable and a 144-kilometer trolley wire will be constructed to link the Gangcheng transformer substation in Guangdong’s Zhanjiang City and the Fushan transformer substation in Hainan’s Chengmai County with a 500-kilovolt alternating current grid. The project will cost 2.1 billion yuan ($280 million).

When completed in the first half of 2009, the submarine power cable is expected to be the longest of its kind in the world.

Source: www.chinaequip.gov.cn, February 13, 2008
http://chinaneast.xinhuanet.com/jszb/2008-02/13/content_12434553.htm

China Charitable Donation Report indicated that China’s public and corporate charitable donations reached $3 billion (22.3 billion Yuan) in 2007, an increase of 123% from 2006. The amount of the charitable donation from outside of China is about $1 billion (8.6 billion Yuan). This is the first official report on the annual charitable funds China received.

Sixty percent of the charitable donation went to education, poverty reduction and disaster relief. In 2008, China’s charity sector identified three areas for improvements. First, improving the organizational structure, especially for grass-roots communities and villages organizations; secondly, establishing evaluation criteria for monthly and annual evaluations; and finally improving the management of charitable projects.

Source: website of Ministry of Civil Affairs, January 31, 2008
http://www.mca.gov.cn/article/zwgk/gzdt/200801/20080100011358.shtml

Vice Chairman of National Development and Reform Commission, Zhang Guobao, stated during an interview on January 30, 2008 that he does not rule out the January CPI reaching new highs. He stated that short-term adverse weather accelerates food price increase and inflation is expected to remain at a high level this year.

Source: Xinhua, February 3, 2008
http://news.xinhuanet.com/fortune/2008-02/03/content_7556791.htm

In anticipation of more international conflicts, Xinhua publishes the focus of macro government policies for 2008 that include the following among others:

· Prevent overheating of economy through a variety of monetary and fiscal policies.
· Adjust structure of import and export to reduce trade surplus and avoid becoming the focal point of conflicts.
· Tighten cross-border capital flows and management.
· Promote real estate property tax reform.

Source: Xinhua, February 3, 2008
http://news.xinhuanet.com/fortune/2008-02/03/content_7559492.htm