ecns [expanded by feedex.net]
ecns
Beijing issues orange-coded heat alert
http://www.ecns.cn/visual/hd/2013/07-29/22891.shtml
Jul 29th 2013, 01:11
2013-07-29 09:54 Ecns.cn Web Editor:Wang YuXia
Photo taken on July 28 shows tourists at a beach festival in Chaoyang Park of Beijing. A heat wave hit many parts of the country these days and the capital city also issued the second orange-coded heat alert of this summer on Sunday. [Photo: CNS / Jin Shuo]
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Sunday, July 28, 2013
ecns [expanded by feedex.net]: Industrial profit growth slows
ecns [expanded by feedex.net]
ecns
Industrial profit growth slows
http://www.ecns.cn/business/2013/07-29/75021.shtml
Jul 29th 2013, 01:05
2013-07-29 10:05 Global Times Web Editor: qindexing
China's industrial enterprises posted weaker profit growth in June, official data showed Saturday, signaling a continuing slowdown in the world's second largest economy.
The profits of major industrial enterprises with annual revenues of more than 20 million yuan ($3.26 million) grew by 6.3 percent year-on-year in June to 502.42 billion yuan, a decrease of 9.2 percentage points compared with the May reading, the National Bureau of Statistics (NBS) said Saturday in a statement on its official website.
Profits generated from the main business activities of these enterprises amounted to 476.89 billion yuan in the same month, down 2.3 percent year-on-year and contrasting with a growth rate of 8.8 percent in May. May was the first time the NBS added the indicator of profits from main business activities to its monthly industrial profit report.
"Since side businesses may also bring a lot of profit these days, the new indicator is now included to better reflect the operating results of industrial manufacturing," Yu Fenghui, a senior official at the Agricultural Bank of China, told the Global Times Sunday.
In a report published on the NBS website Saturday, NBS official He Ping wrote that several factors contributed to the relaxation of profit growth for industrial producers in June. For instance, industrial companies saw their main business revenues grow at a slower pace last month, while their cost per 100 yuan of revenue climbed month-on-month.
Data from the NBS also showed that in the first six months, profits of these industrial enterprises rose by 11.1 percent year-on-year to 2.58 trillion yuan, down from 12.3 percent growth from January to May. Their main business activities registered a 7.2 percent growth during the same period, a drop of 4.2 percentage points compared with the first five months.
"The latest figures are in accordance with China's macroeconomic situation, which is still characterized by continuing slowdown," Yu noted.
"And because of the economic downturn, industrial overcapacity continued to weigh on domestic factories and affect their operating results over the past several months," Yu said.
By the end of June, the value of industrial goods inventory totaled 3.15 trillion yuan, up 7.2 percent year-on-year.
In breakdown, private industrial enterprises posted the strongest profit growth in June, with their combined profits up 15.8 percent year-on-year in the first half to 799.94 billion yuan. State-owned and State-held enterprises reported profit growth of 4.8 percent during the same period, while overseas-invested enterprises reported 14.8 percent profit growth.
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ecns
Industrial profit growth slows
http://www.ecns.cn/business/2013/07-29/75021.shtml
Jul 29th 2013, 01:05
2013-07-29 10:05 Global Times Web Editor: qindexing
China's industrial enterprises posted weaker profit growth in June, official data showed Saturday, signaling a continuing slowdown in the world's second largest economy.
The profits of major industrial enterprises with annual revenues of more than 20 million yuan ($3.26 million) grew by 6.3 percent year-on-year in June to 502.42 billion yuan, a decrease of 9.2 percentage points compared with the May reading, the National Bureau of Statistics (NBS) said Saturday in a statement on its official website.
Profits generated from the main business activities of these enterprises amounted to 476.89 billion yuan in the same month, down 2.3 percent year-on-year and contrasting with a growth rate of 8.8 percent in May. May was the first time the NBS added the indicator of profits from main business activities to its monthly industrial profit report.
"Since side businesses may also bring a lot of profit these days, the new indicator is now included to better reflect the operating results of industrial manufacturing," Yu Fenghui, a senior official at the Agricultural Bank of China, told the Global Times Sunday.
In a report published on the NBS website Saturday, NBS official He Ping wrote that several factors contributed to the relaxation of profit growth for industrial producers in June. For instance, industrial companies saw their main business revenues grow at a slower pace last month, while their cost per 100 yuan of revenue climbed month-on-month.
Data from the NBS also showed that in the first six months, profits of these industrial enterprises rose by 11.1 percent year-on-year to 2.58 trillion yuan, down from 12.3 percent growth from January to May. Their main business activities registered a 7.2 percent growth during the same period, a drop of 4.2 percentage points compared with the first five months.
"The latest figures are in accordance with China's macroeconomic situation, which is still characterized by continuing slowdown," Yu noted.
"And because of the economic downturn, industrial overcapacity continued to weigh on domestic factories and affect their operating results over the past several months," Yu said.
By the end of June, the value of industrial goods inventory totaled 3.15 trillion yuan, up 7.2 percent year-on-year.
In breakdown, private industrial enterprises posted the strongest profit growth in June, with their combined profits up 15.8 percent year-on-year in the first half to 799.94 billion yuan. State-owned and State-held enterprises reported profit growth of 4.8 percent during the same period, while overseas-invested enterprises reported 14.8 percent profit growth.
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ecns [expanded by feedex.net]: Fiscal spending to be cut
ecns [expanded by feedex.net]
ecns
Fiscal spending to be cut
http://www.ecns.cn/business/2013/07-29/75022.shtml
Jul 29th 2013, 01:06
2013-07-29 10:06 Global Times Web Editor: qindexing
General fiscal spending will be further reduced in the second half of this year, the Ministry of Finance announced Friday in a statement on its website.
Finance Minister Lou Jiwei said Friday that a reduction of general fiscal spending is the top priority for the second half of 2013.
General fiscal spending includes government spending on receptions, vehicles and overseas trips, also known as "the three public consumptions."
Fiscal revenue growth has been lower this year than in recent years amid China's economic slowdown.
Premier Li Keqiang said when he took office in March that under the new leadership the three public consumptions would be reduced. President Xi Jinping also called for an effort to curb excessive spending.
0)
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ecns
Fiscal spending to be cut
http://www.ecns.cn/business/2013/07-29/75022.shtml
Jul 29th 2013, 01:06
2013-07-29 10:06 Global Times Web Editor: qindexing
General fiscal spending will be further reduced in the second half of this year, the Ministry of Finance announced Friday in a statement on its website.
Finance Minister Lou Jiwei said Friday that a reduction of general fiscal spending is the top priority for the second half of 2013.
General fiscal spending includes government spending on receptions, vehicles and overseas trips, also known as "the three public consumptions."
Fiscal revenue growth has been lower this year than in recent years amid China's economic slowdown.
Premier Li Keqiang said when he took office in March that under the new leadership the three public consumptions would be reduced. President Xi Jinping also called for an effort to curb excessive spending.
0)
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ecns [expanded by feedex.net]: Development land supply at record high
ecns [expanded by feedex.net]
ecns
Development land supply at record high
http://www.ecns.cn/business/2013/07-29/75023.shtml
Jul 29th 2013, 01:08
2013-07-29 10:08 Global Times Web Editor: qindexing
China's land supply for property development hit a record high of 82,400 hectares in the first half of the year, the Xinhua News Agency reported Sunday, citing data from the Ministry of Land and Resources (MLR), the country's land watchdog.
This represents year-on-year growth of 38.8 percent and a jump of 17.3 percent from 2011 when the reading rose to its second highest level, according to the MLR statistics, which also indicated that land supply for residential use soared 36.9 percent year-on-year to 55,300 hectares in the first half.
Local governments nationwide have stepped up land supply for residential use this year, said the Xinhua report, quoting Sun Yinghui, director of policy and law with the ministry.
Out of China's 31 provincial regions, only four saw a decline in supply of land while the rest all posted rising supplies, Sun revealed, noting that Beijing as well as Zhejiang and Jiangxi provinces were among the areas seeing the biggest jumps.
The surging figures underscore the Chinese government's pledge to boost land supply as a way of putting the brakes on runaway home prices.
Average new home prices in 70 major Chinese cities climbed 0.8 percent in June from a month earlier, easing slightly from May's month-on-month gain of 0.9 percent, according to Reuters calculations from data released by the National Bureau of Statistics.
On a year-on-year basis, however, new home prices rose 6.8 percent in June, the fastest pace since the Reuters calculation started in January 2011.
The China Land Index, released Sunday by the MLR, also pointed to a continuously red-hot property sector. The index neared an alarming level in the second quarter, up 29.5 percent from the previous quarter and 11.4 percent from a year earlier, said the ministry, citing soaring property investment as the main force driving up the index.
0)
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ecns
Development land supply at record high
http://www.ecns.cn/business/2013/07-29/75023.shtml
Jul 29th 2013, 01:08
2013-07-29 10:08 Global Times Web Editor: qindexing
China's land supply for property development hit a record high of 82,400 hectares in the first half of the year, the Xinhua News Agency reported Sunday, citing data from the Ministry of Land and Resources (MLR), the country's land watchdog.
This represents year-on-year growth of 38.8 percent and a jump of 17.3 percent from 2011 when the reading rose to its second highest level, according to the MLR statistics, which also indicated that land supply for residential use soared 36.9 percent year-on-year to 55,300 hectares in the first half.
Local governments nationwide have stepped up land supply for residential use this year, said the Xinhua report, quoting Sun Yinghui, director of policy and law with the ministry.
Out of China's 31 provincial regions, only four saw a decline in supply of land while the rest all posted rising supplies, Sun revealed, noting that Beijing as well as Zhejiang and Jiangxi provinces were among the areas seeing the biggest jumps.
The surging figures underscore the Chinese government's pledge to boost land supply as a way of putting the brakes on runaway home prices.
Average new home prices in 70 major Chinese cities climbed 0.8 percent in June from a month earlier, easing slightly from May's month-on-month gain of 0.9 percent, according to Reuters calculations from data released by the National Bureau of Statistics.
On a year-on-year basis, however, new home prices rose 6.8 percent in June, the fastest pace since the Reuters calculation started in January 2011.
The China Land Index, released Sunday by the MLR, also pointed to a continuously red-hot property sector. The index neared an alarming level in the second quarter, up 29.5 percent from the previous quarter and 11.4 percent from a year earlier, said the ministry, citing soaring property investment as the main force driving up the index.
0)
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ecns [expanded by feedex.net]: Options trading pilot gets closer
ecns [expanded by feedex.net]
ecns
Options trading pilot gets closer
http://www.ecns.cn/business/2013/07-29/75026.shtml
Jul 29th 2013, 01:11
2013-07-29 10:11 Global Times Web Editor: qindexing
The China Securities Regulatory Commission (CSRC) said Friday that it's planning to launch a pilot program for options trading on individual stocks in the Chinese mainland, indicating the regulator is trying to provide more hedging tools for institutional investors in order to increase stock market trading volumes.
The CSRC said at Friday's press conference that it is still researching risk control mechanisms for the program, and gave no timetable for its launch.
"The launch of options trading on individual stocks means more equity derivatives can be used as hedging tools in the mainland financial market," Li Daxiao, research director at Shenzhen-based Yingda Securities Co, told the Global Times.
"The new equity derivatives could encourage investors to invest in strong stocks such as blue chips rather than to speculate on junk stocks," Li said.
During recent years, China has been looking to diversify its capital market by allowing more kinds of financial derivatives to be traded.
For instance, China started stock index futures trading in 2010, and launched a pilot refinancing program in August last year to boost margin trading.
Early in March this year, Gui Minjie, chairman of the Shanghai Stock Exchange (SSE), said during a press conference that the exchange was planning to launch options trading for individual stocks this year, although he gave no further details regarding the timetable.
The SSE started simulated options trading in June this year, to trade shares of Industrial and Commercial Bank of China and units of Huaxia Capital Management's China 50 exchange-traded fund.
"Individual investors may need a huge amount of money in their premium accounts to conduct options deals, which should be higher than the margin required for trading equity index futures," Li explained.
Currently, investors need to have at least 500,000 yuan ($81,500) in their margin accounts to trade stock index futures.
Moreover, individual investors without a professional financial background should be cautious of entering into the market due to the high risk involved, Li said.
He added that investors will be required to pass a test before they are given permission to trade.
0)
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ecns
Options trading pilot gets closer
http://www.ecns.cn/business/2013/07-29/75026.shtml
Jul 29th 2013, 01:11
2013-07-29 10:11 Global Times Web Editor: qindexing
The China Securities Regulatory Commission (CSRC) said Friday that it's planning to launch a pilot program for options trading on individual stocks in the Chinese mainland, indicating the regulator is trying to provide more hedging tools for institutional investors in order to increase stock market trading volumes.
The CSRC said at Friday's press conference that it is still researching risk control mechanisms for the program, and gave no timetable for its launch.
"The launch of options trading on individual stocks means more equity derivatives can be used as hedging tools in the mainland financial market," Li Daxiao, research director at Shenzhen-based Yingda Securities Co, told the Global Times.
"The new equity derivatives could encourage investors to invest in strong stocks such as blue chips rather than to speculate on junk stocks," Li said.
During recent years, China has been looking to diversify its capital market by allowing more kinds of financial derivatives to be traded.
For instance, China started stock index futures trading in 2010, and launched a pilot refinancing program in August last year to boost margin trading.
Early in March this year, Gui Minjie, chairman of the Shanghai Stock Exchange (SSE), said during a press conference that the exchange was planning to launch options trading for individual stocks this year, although he gave no further details regarding the timetable.
The SSE started simulated options trading in June this year, to trade shares of Industrial and Commercial Bank of China and units of Huaxia Capital Management's China 50 exchange-traded fund.
"Individual investors may need a huge amount of money in their premium accounts to conduct options deals, which should be higher than the margin required for trading equity index futures," Li explained.
Currently, investors need to have at least 500,000 yuan ($81,500) in their margin accounts to trade stock index futures.
Moreover, individual investors without a professional financial background should be cautious of entering into the market due to the high risk involved, Li said.
He added that investors will be required to pass a test before they are given permission to trade.
0)
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Saturday, July 27, 2013
ecns [expanded by feedex.net]: 18 more detained in GSK bribes scandal
ecns [expanded by feedex.net]
ecns
18 more detained in GSK bribes scandal
http://www.ecns.cn/2013/07-28/74942.shtml
Jul 28th 2013, 01:17
2013-07-28 10:17 Shanghai Daily Web Editor: Wang Fan
At least 18 more people have been detained in China in connection with a corruption scandal involving British drugmaker GlaxoSmithKline, state media reported, giving more details on an investigation that has rocked the company.
China's state radio reported late on Friday on its website that police in Zhengzhou, capital of central Henan Province, had "recently held, in accordance with the law, 18 GlaxoSmithKline (China) employees and some medical personnel."
It provided no details of the detentions, nor said exactly when they took place.
Zhengzhou police news department said they were "unaware of the situation."
A GSK spokesman in London declined to comment.
Chinese police had previously announced the detention of four Chinese GSK executives in connection with allegations that GSK funneled 3 billion yuan (US$489 million) to travel agencies to facilitate bribes to doctors and officials.
GSK has admitted that some Chinese executives appeared to have broken the law but Chief Executive Andrew Witty said on Wednesday that head office had no knowledge of the alleged wrongdoing.
Prescribe more drugs
Xinhua news agency said certain GSK employees were "suspected of offering bribes to doctors, asking them to prescribe more drugs in order to grow sales, and in the meantime, push up drug prices."
Xinhua cited an interview with a man surnamed Li, who it said was a regional sales manager for GSK responsible for selling respiratory drugs to more than 10 hospitals in Zhengzhou. Li gave details of how the corruption worked.
"They invited doctors to conferences to help practitioners increase influence. They also established good personal relations with doctors by catering to their pleasures or offering money, in order to make them prescribe more drugs," Xinhua reported.
"A 35-year-old female medical representative surnamed Wang, working under Li, said she entered doctors' offices to act as their assistant, and meet their needs as much as possible, even their sexual desires," the report added.
"Wang said GSK China's executives knew this, and some executives gave clear directives to the sales department to offer bribes to doctors."
GSK this week appointed one of its top European executives as head of its operations in China.
0)
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ecns
18 more detained in GSK bribes scandal
http://www.ecns.cn/2013/07-28/74942.shtml
Jul 28th 2013, 01:17
2013-07-28 10:17 Shanghai Daily Web Editor: Wang Fan
At least 18 more people have been detained in China in connection with a corruption scandal involving British drugmaker GlaxoSmithKline, state media reported, giving more details on an investigation that has rocked the company.
China's state radio reported late on Friday on its website that police in Zhengzhou, capital of central Henan Province, had "recently held, in accordance with the law, 18 GlaxoSmithKline (China) employees and some medical personnel."
It provided no details of the detentions, nor said exactly when they took place.
Zhengzhou police news department said they were "unaware of the situation."
A GSK spokesman in London declined to comment.
Chinese police had previously announced the detention of four Chinese GSK executives in connection with allegations that GSK funneled 3 billion yuan (US$489 million) to travel agencies to facilitate bribes to doctors and officials.
GSK has admitted that some Chinese executives appeared to have broken the law but Chief Executive Andrew Witty said on Wednesday that head office had no knowledge of the alleged wrongdoing.
Prescribe more drugs
Xinhua news agency said certain GSK employees were "suspected of offering bribes to doctors, asking them to prescribe more drugs in order to grow sales, and in the meantime, push up drug prices."
Xinhua cited an interview with a man surnamed Li, who it said was a regional sales manager for GSK responsible for selling respiratory drugs to more than 10 hospitals in Zhengzhou. Li gave details of how the corruption worked.
"They invited doctors to conferences to help practitioners increase influence. They also established good personal relations with doctors by catering to their pleasures or offering money, in order to make them prescribe more drugs," Xinhua reported.
"A 35-year-old female medical representative surnamed Wang, working under Li, said she entered doctors' offices to act as their assistant, and meet their needs as much as possible, even their sexual desires," the report added.
"Wang said GSK China's executives knew this, and some executives gave clear directives to the sales department to offer bribes to doctors."
GSK this week appointed one of its top European executives as head of its operations in China.
0)
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ecns [expanded by feedex.net]: He, Wang reaffirm China's 3m springboard dominance
ecns [expanded by feedex.net]
ecns
He, Wang reaffirm China's 3m springboard dominance
http://www.ecns.cn/2013/07-28/74946.shtml
Jul 28th 2013, 01:27
2013-07-28 10:27 Agencies Web Editor: Wang Fan
He Zi claimed her second title of the FINA world championships and kept up China's dominance at the diving pool with an easy win in the women's 3-meter springboard in Barcelona.
She led after every round on the way to a total score of 383.40 points. The real drama was for the other spots on the podium. China's Wang Han held on for the silver with 356.25, while Canada's Pamela Ware pulled out the bronze with 350.25.
China has won eight of nine events at the scenic Montjuic pool overlooking the city.
The final event of the traditional diving competition is the men's 10-meter platform today. Olympic gold medalist David Boudia will try to prevent an American shutout and showed he hasn't lost his London form, leading after the semifinals.
Boudia opening dive yesterday received one perfect 10 and nothing lower than a 9.0 from the judges. He led through all six rounds, finishing with 534.40 points.
China's Qiu Bo, the silver medalist behind Boudia at the London Olympics, led after the morning preliminaries. He only finished sixth in the semifinals after a poor first dive, though still good enough to advance.
Mexico's Ivan Garcia was second, followed by Germany's Sascha Klein. Olympic bronze medalist Thomas Daley was seventh despite a triceps injury that required treatment.
Elsewhere, Germany's Thomas Lurz won another gold medal at the championships yesterday, touching first in the grueling 25-kilometer open water.
The 33-year-old Lurz took his second gold of the championships and seventh career victory at the worlds. He won in 4 hours, 47.27 seconds, beating Belgium's Brian Ryckeman by 0.4 seconds. The bronze went to Russia's Evegenii Drattcev, who edged out American Alex Meyer for a spot on the podium by 0.1 seconds after nearly five hours in the waters of Barcelona's scenic harbor.
On the women's side, Italy's Martina Grimaldi claimed victory by an even closer margin - one-tenth of a second ahead of Angela Maurer, denying the Germans dual victories at the last two open water events of these championships.
Maurer thought she had won on her 38th birthday, the scoreboard initially showing she had touched first. She grabbed a chair, totally exhausted. There was nothing she could do when the official results flashed on the scoreboard, flipping the order of the top two. Grimaldi's time was 5:07:19.7. American Eva Fabian claimed the bronze.
0)
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ecns
He, Wang reaffirm China's 3m springboard dominance
http://www.ecns.cn/2013/07-28/74946.shtml
Jul 28th 2013, 01:27
2013-07-28 10:27 Agencies Web Editor: Wang Fan
He Zi claimed her second title of the FINA world championships and kept up China's dominance at the diving pool with an easy win in the women's 3-meter springboard in Barcelona.
She led after every round on the way to a total score of 383.40 points. The real drama was for the other spots on the podium. China's Wang Han held on for the silver with 356.25, while Canada's Pamela Ware pulled out the bronze with 350.25.
China has won eight of nine events at the scenic Montjuic pool overlooking the city.
The final event of the traditional diving competition is the men's 10-meter platform today. Olympic gold medalist David Boudia will try to prevent an American shutout and showed he hasn't lost his London form, leading after the semifinals.
Boudia opening dive yesterday received one perfect 10 and nothing lower than a 9.0 from the judges. He led through all six rounds, finishing with 534.40 points.
China's Qiu Bo, the silver medalist behind Boudia at the London Olympics, led after the morning preliminaries. He only finished sixth in the semifinals after a poor first dive, though still good enough to advance.
Mexico's Ivan Garcia was second, followed by Germany's Sascha Klein. Olympic bronze medalist Thomas Daley was seventh despite a triceps injury that required treatment.
Elsewhere, Germany's Thomas Lurz won another gold medal at the championships yesterday, touching first in the grueling 25-kilometer open water.
The 33-year-old Lurz took his second gold of the championships and seventh career victory at the worlds. He won in 4 hours, 47.27 seconds, beating Belgium's Brian Ryckeman by 0.4 seconds. The bronze went to Russia's Evegenii Drattcev, who edged out American Alex Meyer for a spot on the podium by 0.1 seconds after nearly five hours in the waters of Barcelona's scenic harbor.
On the women's side, Italy's Martina Grimaldi claimed victory by an even closer margin - one-tenth of a second ahead of Angela Maurer, denying the Germans dual victories at the last two open water events of these championships.
Maurer thought she had won on her 38th birthday, the scoreboard initially showing she had touched first. She grabbed a chair, totally exhausted. There was nothing she could do when the official results flashed on the scoreboard, flipping the order of the top two. Grimaldi's time was 5:07:19.7. American Eva Fabian claimed the bronze.
0)
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