➲ More competitive

According to the Global Competitiveness Report 2011-12, China's competitiveness ranking rose from 27th to 26th among 142 economies in the world this year, continuing to lead the way among large developing economies. The report said China is one of the world's least indebted countries, boasts a savings rate of some 53 percent of GDP, and runs only moderate budget deficits. However, China's fairly poor results in the financial market development and technological readiness pillars pull down its overall competitiveness performance, said the report.

➲ Bumper corn crop

Corn production this year is expected to surge to 182.5 million tons, up 3 percent from last year, according to a forecast released in August by the China National Grain and Oils Information Center. But fast-growing domestic demand means that the bigger harvest is unlikely to offset the surging corn imports, which will probably show a "mild and stable increase" over the next few years. Despite natural disasters this year, it is still quite possible to achieve an increased corn yield. The domestic demand for corn in animal feed and for processing is also growing rapidly.

➲ Inflation could exceed target

China's full-year inflation might exceed the country's 2011 full-year target of 4 percent, judging from the current trend. However, China will continue to put the inflation management as its top priority, according to the National Development and Reform Commission. The 4-percent target was the country's previous prediction for the full-year and current trends show that this mark could be exceeded. China's grain output is expected to grow for an eighth consecutive year in 2011 and reach 560 million tons, which will ease the country's inflationary pressure.

➲ More rural financial services

China Banking Regulatory Commission (CBRC) said in a report this September that the nation had established 615 rural financial institutions as of the end of June in an effort to improve rural financial services. Among them 369 are located in central and western regions, where financial services in rural areas lag behind the prosperous eastern region. Those first building financial institutions in rural areas where financial services are not available will enjoy preferential treatment such as lower requirements in operating capital, according to the CBRC.

➲ More insurance coverage

The public medical insurance system on the Chinese mainland now covers over 1.25 billion people, or about 93 percent of the mainland's total population. In 2010, the Chinese mainland's rural cooperative medical system has provided 835 million people with health care, while another 421 million are covered by basic medical insurance systems for urban dwellers, according to the Ministry of Health. In the first half of 2011, the Chinese Government spent more than 245 billion yuan ($38.4 billion) on health care, up 61.4 percent year-on-year.

➲ Partnership to fight hunger

The United Nations World Food Program (WFP) announced in September that it has forged its first strategic partnership with Chinese Internet company Tencent to fight global hunger. Tencent Charity Foundation has made an initial 1 million yuan ($156,700) donation to support school feeding programs in Cambodia and China. In the second phase of the partnership, the WFP and Tencent Foundation will launch an innovative online monthly donation fundraising campaign on Tencent's charity platform.

➲ Restructuring for state firms

China will spend state funds next year for restructuring government-owned companies and energy-conservation and emissions-reduction projects, said the Ministry of Finance in a statement. The government will also allocate money for overseas investments and acquisitions and for research and development by companies, according to the statement about the drafting of the 2012 budget and management of state funds.

➲ Huawei flourishing

Huawei Technologies Co. Ltd., China's largest mobile network equipment maker, reaped juicy returns in the first half due to robust hand device sales. The Shenzhen-based company reported 98.3 billion yuan ($15.4 billion) of sales revenues in the first half of this year, up 11 percent year on year. The operating profits totaled 12.4 billion yuan ($1.9 billion). While it still relies on network equipment businesses as a major source of income, Huawei has been making a push into consumer devices because of buoyant global demands for smartphones and tablets.

➲ Investment to fertilize forests

China will improve its forestry policies and forest insurance system to reduce the financial burden of forestry development, said Chinese Vice Premier Hui Liangyu at the closing ceremony of the first APEC Meeting of Ministers Responsible for Forestry, which was held in Beijing this September. Hui said China will increase the investment in infrastructure development related to drinking water, electricity, roads and communications in forest areas. The country will also invest in forest seeds and seedlings, forestation, forest tending and the reconstruction of dangerous buildings to improve the livelihood of forest-dependent residents.

150.2 Billion [$]

China's software industry's revenue for the first seven months of 2011

5-10%

Percentage of its foreign exchange reserves Nigeria plans to invest in China's currency

 1.8 Billion + [$]

Amount to be spent on the construction of Tibet's irrigation and drinking water projects from 2011 to 2015

 8%

Egypt's customs revenues down in fiscal year 2010-11