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VOL.4 May 2012
Business Briefs

➲ Cross-border payment system

China's central bank plans to set up a cross-border payment system that will ease the way for a greater use of the yuan in international trade and investment and for an increased convertibility of the currency. The China International Payment System will likely be operational in one to two years, according to the People's Bank of China in April. The move will promote the international use of the yuan, analysts said.

 

➲ Maintain low birthrate

China would maintain a low birthrate and keep the population within 1.39 billion by the end of 2015, according to the 12th Five-Year Plan (2011-15) on the country's population development, issued by the State Council in April. China had more than 1.34 billion people by the end of 2011. In five years, the number of people aged 60 and older will rise to more than 200 million.

 

➲ Trade plan

Kenya in April launched a new export plan that seeks to narrow the export deficit with strong emphasis on exporting processed goods. The new plan also envisages diversification of the current exports dominated by agricultural produce, to include services like information technology, which Kenya is more advanced in, compared to its peers on the continent. The plan is meant to reverse the unfavorable balance of trade the country has been experiencing.

 

➲ IPR protection

China launched a website in April to support its campaign to protect intellectual property rights and crack down on infringements of those rights. The website, www.ipraction.cn, is to be the government's official website for publishing information about curbing intellectual property infringements and will give the government and companies another means of communicating with each other, according to the Ministry of Commerce.

 

➲ Support for small business

The China Banking Regulatory Commission (CBRC), China's top banking regulator, recently requested financial institutions put in place the differentiated credit policy to boost cash-strapped small businesses. CBRC will set up more small-scale financial institutions to serve more micro-sized companies. The regulator said that efforts must be made to ensure that the growth rate of the credit for the small business should not drop lower than that of the bank's average level.

 

➲ Invigorating e-commerce

The Ministry of Industry and Information Technology released a development plan recently for the electronic commerce sector, pledging vigorous efforts to double transaction value of e-commerce to 18 trillion yuan ($2.85 trillion) by the end of 2015. E-commerce has expanded into various industries such as agriculture, trading, transportation, finance and travel industries and it is merging with China's real economy, said the ministry.

 

➲ Photovoltaic event  

More than 2,200 companies in the photovoltaic industry will take part in the SNEC Sixth (2012) International Photovoltaic Power Generation Conference & Exhibition, the world's biggest exhibition of its kind, which will be held in Shanghai from May 16 to 18. The Shanghai New Energy Industry Association, the organizer of the event, said the exhibition this year has become an important means of trade and communication among makers of photovoltaic equipment.

 

➲ Rural services

China has formed a nationwide network to provide agricultural science and technology services in rural areas, according to the China Rural Special Technique Association. There are now 133,000 primary-level organizations for promoting agriculture technology across the country. Since 2006, the Chinese Government has invested 1.05 billion yuan ($166.7 million) in rewarding organizations and personnel for providing agriculture technology services and supporting primary-level service units.

 

➲ First Africa-themed industrial park

China Africa Industrial Forum (CAIF) is poised to bring African culture to Beijing, with the launch of the first China-Africa Cultural Industrial Park Project. The park, to be set up within Chaoyang District, will be the first major African culture-driven theme industrial park in China, according to CAIF this April. The construction and business invitation of the park is scheduled to be completed within two to three years, with the direct output value of 5 billion yuan ($800 million) per year.

 

➲ Ease traffic congestion

The Beijing Municipal Government will invest more than 2.84 billion yuan ($450 million) improving the city's traffic circulation, according to the Beijing Municipal Development and Reform Commission. A total of 14 km of roads will be improved across 24 different projects in six districts of Beijing. In 2011, the city completed 12 road work projects.

 

38.75%

Drop in Air China's net profits in 2011 from 2010

 

5,000km

China's Shanxi Province total expressway length by the end of 2012

 

$12 Million

Ghana investment to boostyam productivity

 

5%

China ups import tariff on liquid crystal display panels from April 1

 

$98 Billion [+]

South Africa's tax revenue in 2011-12 fiscal year

 

 

 

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