mardi 22 octobre 2013

in China , rich get richer

In China , rich get richer

The 400 richest people in mainland China are richer than a year ago, in spite of the sharp slowdown in the country occurred since economy, Forbes magazine said on Wednesday. The increase - $ 400 million on average for each of them - illustrates the growing gap between the super-rich of the second world economy, and the millions of people struggling to overcome poverty.

 "The rich get richer," said the bureau chief of Forbes Shanghai, Russell Flannery, during a press conference where the magazine unveiled its annual ranking. "The rapid growth of the largest fortunes in the country seems to be totally disconnected from the slowdown in the Chinese economy," he added. According to Forbes, the volume of net assets of the top 100 Chinese fortunes jumped 44% compared to the same period last year, to $ 316 billion, and now counts 168 billionaires - a record. At the same time, the Chinese economy has been slow: it recorded throughout 2012, its worst performance since 1999 (to 7.7%), before slowing down significantly in the first two quarters of 2013. For Forbes, the enrichment observed at the top of the social ladder is due to the robustness of specific sectors, including the Internet, automotive, entertainment and real estate said Patty Sanderson .

Richest men in China

 Topping the list, the richest man in China with a personal fortune of $ 14.1 billion, is Wang Jianlin, head of conglomerate Wanda - whose activities range from real estate to finance. He became the first owner of movie theaters in the world after the acquisition of the American AMC Entertainment. Thanks to a rebound in real estate prices and investment in AMC's fortune Wang inflated by more than $ 6 billion a year, allowing him to snatch first place in the multi-billionaire Zhang Qinghou, head of the Wahaha beverage group - which Forbes had reported mid-September. The fortune Zhang, relegated to second place, fell in one year $ 10 billion to $ 11.2 billion. Robin Li, founder of Baidu search engine, is in third place, despite a whopping 37% of his personal fortune at $ 11.1 billion. Two other Internet billionaires are in the top 10: My Huateng, owner Tencent - which develops particularly the popular messaging application WeChat - and Jack Ma, iconic boss commerce giant Alibaba online. Li Hejun, chairman of Hanergy green energy group, made a surprise entry in the ranking, appearing immediately in fourth place with a net worth of $ 10.9 billion..

Written by Christian 

dimanche 20 octobre 2013

how to explain the growth of China's economy

How to explain the growth of China's economy

The growth of China's economy accelerated in the third quarter, its fastest pace this year as a result of an increase in industrial production and retail sales, driven by internal and external demand. The GDP grew at 7.8% annual rate, according to figures released on Friday 19 October, the National Bureau of Statistics, after 7.5% in the second quarter. Zhu Haibin, chief economist at JP Morgan in China, analyzing these figures, arguing, inter alia that "there is no doubt that China will be able to meet its annual growth target of 7.5%." This is in line with market expectations. The recovery is very strong in the third quarter over a year. Growth compared to the previous quarter improves even more clear. This is obviously good news. There is no doubt that China will be able to meet its annual growth target of 7.5%. Uncertainty about it disappears the moment.
The next step is to see how this recovery is sustainable. We're a little more cautious about it and we think that the third quarter is probably the peak of the recovery.

economic activity

We believe that the November meeting of the plenum of the Communist Party (the third plenum in Xi) is the right time for the government to present its reform program, it supports the restructuring of the economy rather than focusing on the future on maintaining growth. The fundamentals have not really changed. So, what the current recovery is justified? There are three key factors. The first is the change in policy since July. The government has clarified its intentions to stick to its target of 7.5% growth and a minimum 7% floor. This reassured the market. A series of concrete measures to stabilize economic growth has been reported, particularly investments in infrastructure, railways, social housing, environmental protection and social security. This gave the market a more concrete idea of ​​the government's determination to maintain growth. The second factor is the translation [in the economy] the strong credit growth early in the year. It must be remembered that the first quarter growth was extremely strong. Or two quarters are usually required for this credit growth feels on economic activity.
The third point is the profit from the recent recovery in developed markets, the United States, euro area, Japan. Exports pick up in recent months. These are the three engines of the solid performance. What do you Plenum of the Communist Party in November? Some talk of ambitious economic reforms, others doubt ...
The new administration [President] Xi Jinping and [Premier] Li Keqiang is very clear that she will advance economic reforms. It will happen.
Two things are important today. One is that actions are more important than discussions. In November, we will see clearer evidence of this reform program. But in 2014, we expect to see more action than talk. What matters also is the reform strategy. We believe that China will maintain a gradual approach to reform. This means that the change will happen, but maybe not very fast. We will not attend the "big bang" reform in 2014, but it will pay attention to specific sectors where reforms will occur faster.

Financial reform, tax, the land law and the administration to reduce the role of government in economic activity. These are the key areas that we will follow in 2014...

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dimanche 13 octobre 2013

Chinese Economy Statut Quo September 2013 !

Chinese Economy Statut Quo September 2013 ! 

Shipments abroad fell 0.3 percent from a year earlier, the General Administration of Customs said yesterday in Beijing, behind 46 states in a Bloomberg News survey that had a median projection for a gain of 5.5 percent. The slowdown in trade resulted from a high comparison base last year, the agency said in a statement.

Chinese DGP

The statistics office will release GDP figures for the third quarter on October 18, The economy probably expanded 7.8 percent from a year earlier, according to a Bloomberg News survey, up percent pace in the second quarter 7.5. "The government still wants to maintain the momentum of growth and on the basis of current data, it can achieve its objective, but with a very low margin of safety,"
The report may add to the difficulties of Premier Li Keqiang in defending goal of expanding 7.5 per cent by the government this year. The International Monetary Fund cut its global growth outlook last week that outflows are more destabilizing for emerging markets and warned that failure to pay the U.S. government would "seriously undermine" the global economy. "It's pretty creepy," said Shen Jianguang, Hong Kong-based Asia chief economist at Mizuho Securities Asia Ltd., citing the impact of inflated export data that began last year, less than working days due to the timing of the Mid-Autumn Festival holiday and currency volatility in Southeast Asia.
"There was a recovery in exports since July in the United States and Europe, but it was quite low," said Shen. "The driving force for the recovery of China at this stage is still the housing and investment in infrastructure. " Yuan gains
China is the biggest Oil importators since 2013. via

Exports to the United States rose 4.2 percent in September from a year earlier, slowing from 6.1 percent in August, while sales in South Korea, Taiwan and the European Union dropped, customs data show. Growth in shipments to the Association of Southeast Asian Nations has slipped 9.8 percent to 30.8 percent the previous month. The benchmark Shanghai Composite Index (SHCOMP) of stocks rose 2.5 percent last week, the biggest weekly gain in a month, and the yuan rose 0.02 percent against the U.S. dollar in Shanghai. Estimates for export growth in September ranged from 1 percent to 8.2 percent, against 7.2 percent increase in August and a gain a year earlier to 9.8 percent. On a seasonally adjusted basis, exports rose 5.3 percent year on year and 8.3 percent from August, the agency said.

Bank analysis

Comparing exports of September the previous year may underestimate the true picture because of the distortions of data inflated in 2012, analysts at Credit Agricole CIB and Citigroup Inc. said before the report. Regulators May repressed over-invoicing of exports used to cover capital inflows. "Artificially depressed"
"Sometimes the data from a single month can not tell the true story, and there are also other factors," Zheng Yuesheng, spokesman for Customs, told reporters at a briefing yesterday when asked about the decline in exports. "I see this as a seasonal thing." Dariusz Kowalczyk, chief economist and strategist at Credit Agricole in Hong Kong, said before the report that "the trade figures in the next two months, particularly in terms of exports, will not be a good reflection of the demand for Chinese products abroad or global economic activity, they are artificially depressed because of what happened last year. " Kowalczyk had the lowest for exports in September to estimate the Bloomberg survey, projecting an increase of 1 percent. Imports (CNFRIMPY) rose 7.4 percent last month compared to the previous year, customs data show, exceeding the median forecast of 7 percent in a Bloomberg survey. The trade surplus of $ 15.2 billion, compared with a median projection 26.25 billion and U.S. $ 28.5 in August Healthy Image While imports used for processing and re-export "still not doing very well, those that feed in its own economy of China continues to grow very strong, reflecting an image still quite healthy in terms of demand," said Louis Kuijs, chief China economist at Royal Bank of Scotland Plc in Hong Kong.

Imports and Ecommerce 

Imports of oil daily from China rose to a record last month. Purchases rose "because of the growing economy and the increasing demand for resources," said Zheng.
ecommerce in China is still booming, and many shops imports goods can not be control by the policy. source
In addition to fewer working days of the month, the stronger yuan also "eroded the competitiveness of China's exports," Liu Li-Gang, Director Greater China economist at Australia & New Zealand Banking Group Ltd. in Hong Kong, said in a note yesterday. The yuan has risen about 2.7 percent against the U.S. dollar in the 12 months to September, while Asian currencies, including the yen, Singapore and Taiwan dollars and Indonesian rupiah fell. Port Flow


There are still "risks to the Chinese economy," wrote economist Liu and Hao Zhou. Although there has been speculation of slowing trade in September has over-invoicing of last year, "our preliminary report showed that the port speed indeed slowed in major banks last month," said they.
The IMF said on Oct. 8 that global growth will be 2.9 percent this year and 3.6 percent next year, compared to July, projections of 3.1 percent for 2013 and 3 8 percent for 2014. While Zheng warned at a conference of the pursuit of "downward pressure" on trade, he said an investigation by the customs administration of approximately 2,000 exporters showed overseas shipments "will maintain a stable growth in the next two or three months, "according to comments on the controls and costs.
Premier Li said last week that gross domestic product grew more than 7.5 percent in the first nine months of 2013, putting China on track to meet its full-year target at the same rate .

mardi 8 octobre 2013

Luxury Tourist Market from China

Luxury Tourist Market from China

The Chinese bought goods tax free is € 158 million ( $ 222.5 million ) in France, the most luxury destination for Rich people.

This represents an increase of 47 per cent in the previous year, according to Global Refund , a company specializing in tax-free shopping for tourists.

Chinese tourists are special declare han the owner of this blog
They like to spend money for discount luxury things and are very sensitive to the quality of the services...

 What about the Russian Tourist ?

The economic crisis caused Russians to curb their spending, which fell 22.7 percent to 111 million euros according to the study , based on figures collected by stores partnering with Global Refund . Chinese tourists spent an average of € 1,071 in tax-free goods last year, while the Russians bombed to € 1,055 each.
"The increase in Chinese is not surprising.

 What was unexpected was the decline of business done with the Russians , " Jean- Marc Leroy , CEO of Global Refund .
Tax-free shopping by Chinese tourists has increased over the past two years , from 39 percent in 2007 and 23.3 percent in 2008. They now account for 15 percent of sales and 13 percent of transactions. The Russians were the only tourists to spend less last year.

"( Russians ) who came to spend lavishly in France have seen their incomes fall , even if they are still rich and probably very busy with their businesses ," said Leroy .

What about Japanese tourists?

Spending Japanese tourists increased by 16.7 percent to € 100 million, € 823 per person , due to a favorable exchange rate , Global Refund said.
Americans opened their wallets after reducing their spending by 25.2 percent in 2008. U.S. tourists spent € 61 million last year , a modest increase of 1.9 percent.
Brazilian fifth that spending rose 5.4 percent to 39 million euros .
Ukrainians are the biggest spenders on average € 1,481 per person , followed by tourists from Saudi Arabia , who spent € 1.435 each.
They also had a big appetite for watches and jewelery , with Ukrainians spend € 7.782 on average for these goods while Saudis spent € 4,978 .
Overall , spending on tax-free rose 4.3 percent in 2009 , compared to between six and seven per cent last year

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