Economy/Resources - 272. page

In the most recent issue of Qiushi journal, the core publication of Central Committee of Chinese Communist Party, a senior official authored an article on the risk of an “overheating economy” and “comprehensive inflation.” Xie Fuzhan, the chief of State Statistics Bureau, pointed out that China need to focus on quality and curb the “impulse of expanding investment projects.” The article suggested strengthened macroeconomic control, strict housing regulation, and tight monetary policy. To ease the expectation of price rises, Xie proposed to increase the supply for basic necessities.

Source: Xinhua, April 2, 2008
http://news.xinhuanet.com/fortune/2008-04/02/content_7906294.htm

At a national agriculture and grain production telephone conference, the State Council announced ten “important” measures to step up the support of the sector. Increase of the agricultural output is believed to be the key to alleviating the galloping inflation, the “most outstanding” problem in the economy. According to Premier Wen Jiabao, 2008 is a “grim” year for China’s agriculture and grain production, due to natural disasters and adverse climate.

Source: Xinhua, March 27, 2008
http://news.xinhuanet.com/politics/2008-03/27/content_7870258.htm

During the 2008 China Chongqing Expo, buyers from Iraq issued over 100 purchase orders for automobiles, electrical appliances, food, housing construction equipment, and consumable products, totaling US$1 billion. Many are trying to establish direct sales channels with local businesses to cut back costs of having a middle man.  Daily consumable products topped all the categories of the orders placed.

Source: People’s Daily, March 25, 2008 http://paper.people.com.cn/rmrbhwb/html/2008-03/25/content_48322437.htm

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