Author Archives: SBX

Pilot free trade zone (FTZ) in Shanghai will launch on Sept 29

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Easier access and greater freedom for the Shanghai FTZ is promised by China’s central government. The now suggested negative list approach will allow everything that is not explicitly forbidden. Investors will have to wait and see, how long and complicated the restrictions of that negative list will be.

“The National People’s Congress Standing Committee (China’s legislature) has authorized the State council (Cabinet) to modify laws related to foreign enterprises in the zone.” [Xinhua]

“In the FTZ goods can be imported, processed and re-exported without the intervention of customs authorities. ” [Xinhua]

Housing price vs. Chinese dream

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Ever higher housing prises are putting huge pressure on the Chinese middle-class home owners. Most of the income will flow into monthly loan payments. The negativ effect on domestic consumption can be felt in all major cities. Keeping housing prices within certain limits, will be crucial to keep the Chinese domestic growth on track and help the people to fulfill their Chinese dream.

“Since President Xi Jinping talked about the Chinese Dream last year, government departments have been working together to help realize the goal. For the nation as whole, the Chinese Dream means maintaining social stability, ensuring economic growth and common prosperity, and building a secure future. For an ordinary family, however, the key factor in the Chinese Dream is a better life. And keeping housing prices within a reasonable limit is essential to realize the dreams of both the nation and individuals. “[By Zhang Zhouxiang (China Daily)]

Growth range to push forward reforms and balance growth

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By Xinhua

At the opening ceremony of the Annual Meeting of the New Champions 2013, also known as Summer Davos, Li [Chinese Premier Li Keqiang]described the reasonable growth range he first proposed in July as a benchmark for policy adjustments. This range is marked by a lower limit designed to ensure steady growth and job creation and an upper limit meant to avert inflation.

“As long as the economy runs within the reasonable range, we will keep macroeconomic policies generally stable and focus on shifting the growth model and structural readjustment,” Chinese Premier Li Keqiang.

Balanced growth is key to further development of the Chinese economy. Reforms should help opening up the economy and create more chances for private sectors, both domestic and foreign.

Plan to establish the Shanghai FTZ approved by the State Council in June.

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By HE WEI and WEI TIAN (China Daily)

Source: http://europe.chinadaily.com.cn/business/2013-09/13/content_16966663.htm

Shanghai wishes to become one of the leading locations to conduct global trade and confirm its status as a world-leading financial hub.

The establishment of the Shanghai Free Trade Zone (FTZ) may support this development and create new opportunities for manufacturers in the region.

“Goods in the zone may be landed, handled, manufactured or reconfigured and re-exported without the intervention of customs authorities,” Sun Lijian, a professor of economics at Fudan University.

Sun said such a tariff-free environment would foster offshore trade and offer tantalising new opportunities to Chinese exporters keen to expand their production capabilities to other low-cost markets in the region. He added that such eased rules would also help them concentrate on the higher-value-added front and back ends of the manufacturing process.

“In order to support the ordinary Chinese social model, the mainland needs more sophisticated financial services. When people feel that their future is more secure, they will consume more,” Dan Steinbock, research director of international business at the India, China and America Institute in the US.

Chinese exports expand in August – signs of recovery

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By Li Jiabao (China Daily)

Source: http://europe.chinadaily.com.cn/business/2013-09/09/content_16953246.htm

The accelerated pace of China’s exports in August has added to the signs of a gradual recovery, experts said on Sunday.

Exports jumped in August by 7.2 percent from a year earlier to $190.73 billion, compared with 5.1 percent growth in July, the General Administration of Customs said on Sunday.

China: Home prices keep rising in August

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By WANG YING in Shanghai (China Daily)

Source: http://europe.chinadaily.com.cn/business/2013-09/03/content_16938984.htm

Pilot property tax may expand to cool market

New home prices in 100 major cities averaged 10,442 yuan ($1,706) per square meter in August, rising for 15 consecutive months in month-on-month terms, and indicating the recovery of the property sector, a survey has shown.

Of the 100 cities tracked by the China Index Academy, the research arm of Soufun, China’s largest property website, 71 cities posted month-on-month increases, with 31 of them seeing prices rising at a pace above 1 percent, two cities fewer than in July.