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2015年5月31日星期日

China to achieve minimum wage growth target

China is expected to achieve its average annual minimum wage growth target of 13 percent for the five-year period ending in 2015, experts said on Thursday.

Nineteen regions in China increased minimum wage at an average rate of 14.1 percent in 2014, the Ministry of Human Resources and Social Security said on Thursday.

The growth pace is faster than the planned annual average growth rate, but slower than the previous three years, said the ministry in a statement posted on its official website.

In China, where city and provincial governments set minimum wage standards, 27 regions raised the minimum wage by an average rate of 17 percent in 2013, while minimum wage hikes in 25 regions surpassed 20 percent on average in 2011 and 2012.

Last year, Shanghai registered both the highest statutory minimum monthly wage of 1,820 yuan (about 297 U.S. dollars) and the highest minimum hourly rate of 17 yuan, the statement said.

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2015年5月28日星期四

Tariffs cut to boost consumption abroad

Policies are being developed to boost domestic consumption. According to a recent announcement from the Department of Tariff, the Ministry of Finance, China will cut import tariff rates of partial daily consumer goods in the form of a tentative tariff rate.

Experts said that the implementation of the policy was a good initiative. However, markets determine the level of consumption. National brands should identify their positioning, improve product quality, and shape brand images.

Tariffs will be reduced on a number of imported consumer goods, including clothes, shoes and boots, cosmetics, paper diapers etc. The tariffs of all the items involved will be cut by more than 50 percent on average.

Everything has its cause. Due to high import tariffs and a preference for foreign brands, Chinese people with increasing purchasing power are interested in buying goods overseas. According to partial statistics from Ministry of Commerce, the value of consumption abroad in 2014 exceeded one trillion yuan.

“The measure of reducing tariffs of consumer goods is a good beginning. However, the market needs a certain time to respond. On one hand, the number of tariffs to cut is limited; on the other hand, markets determine real consumption ability. It can’t be too high at the beginning.” Zhao Ping, deputy director of the consumption and economy research department, the Ministry of Commerce explained to the media.

She noted that national brands should take advantage of opportunities to improve their quality and brand image, which is actually the “catfish effect”. Imported products may not be so different from national products. However, the fashion value and influence of the brand images which imported products own are what the domestic enterprises should learn from.

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2015年5月27日星期三

China adds 5.04 GW solar capacity in Q1

Tourists to Cuba jumped by 15 percent in the first quarter of 2015, and the trend is expected to hold for the rest of the year, the country's Tourism Minister Manuel Marrero said.

Speaking at the opening of the 7th International Gourmet Festival of Varadero, the island's leading seaside resort, Marrero did not offer specific figures, but indicated visitor arrivals in the first four months of the year "have been magnificent," communist youth daily Juventud Rebelde reported on Thursday.

Cuba and the United States announced an agreement in December to resume diplomatic ties and normalize relations, sparking a surge of interest in travel to the Caribbean country, which has been largely off limits to non-Cuban U.S. travelers for five decades.

A day after the Dec. 17 announcement, TripAdvisor, a travel planning and booking website, reported that interest in travel to Cuba spiked by nearly 300 percent in one day.

Marrero called on the country's tourism industry to strive for excellence, saying there was a lot of global competition for tourism dollars.

In 2014, Cuba drew some 3 million visitors, but tourism officials are preparing for an expected wave of U.S. tourists once travel restrictions imposed by Washington are lifted as ties with Cuba improve.

Tourism is Cuba's second-largest source of foreign revenue, after the export of technical and medical services.

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2015年5月26日星期二

China’s foreign capital increased 11.1 pct from Jan to April

According to statistics published by commerce department on 12^th, China’s actual amount of foreign capital has reached 273.61 billion RMB from January to April, increase 11.1% year-on-year.

Statistics shows that China has 7790 newly established foreign companies from January to April, increased 17% year-on-year . Foreign contract capital reached 621.9 billion RMB, increased 51%.

From January to April, 5636 newly-set foreign companies were related to service industry and the actual amount of foreign capital in service industry was 28.14 billion us dollars, increased 32.1% and 24.8% year-on-year, which accounted for 72.4% and 63.2% of foreign capital in China.

On the other hand, the actual amount of foreign capital in communication equipment computer and other electronic manufacturing, transportation equipment manufacturing industry was 9.9% and 2.4%. The Volkswagen group, Chrysler Group, Roche Group, Bosch, amazon has increased investment in China.

Moreover, European Union invested 2.52 billion us dollars in China, increased 22.2% year-on-year.

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2015年5月25日星期一

Hunan Accelerates Trade Development in Peru

The Hunan and Peru Economic Exchange & Trade Cooperation Symposium was held in Changsha on September 26, 2014. Former Peru President Mr. Alan Garcia Perez and his delegation had an in-depth discussion on the direction and focus of expanding economic and trade between Hunan and Peru with officials from the Development and Reform Commission of Hunan Province, the Hunan Economic and Information Technology Commission, and the Department of Commerce of Hunan Province. Vice Governor of Hunan Province He Baoxiang presided over the symposium.

According to the Department of Commerce of Hunan Province, investment and trade of Hunan-based enterprises grow rapidly in Peru, and cooperation between Hunan and Peru in resource development, infrastructure, processing and assembling, etc. is also getting closer.

In the next stage, commercial representations of China in Caribbean and South American countries will provide better service for market development in Peru so as to form a new market development pattern promoted by the government and jointly expanded by enterprises. Hunan's competitive and distinctive products and technology services, such as engineering machinery, housing industry, building materials, steel, fireworks, automobile and its parts, and daily consumer goods, have a good market in Peru., As a developing country, Peru has great development potential for export of construction machinery, development of mineral resources, and intensive processing of agricultural products.

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2015年5月21日星期四

Chinese 4G mobile phone output grows over 400 pct in April

The production of 4G mobile phones surged by 472 percent year on year to hit 37.8 million sets in April, according to a state research institute on Tuesday.

In total, 45.2 million cellphones were produced in April, an increase of 11 percent year on year. Production of lower-end 2G and 3G cellphones saw a decline of 2.5 percent and 91.6 percent year on year respectively, according to statistics released by China Academy of Telecommunication Research.

The output of 4G mobile phones grew by 658.7 percent year on year in the past four months while that of 3G models dropped by 89.5 percent year on year.

The Ministry of Industry and Information Technology issued a guideline on the special action of promoting broadband in China last Friday to increase Internet speed and coverage and give more people access to fast and convenient connections.

Over 600,000 new 4G network base stations will be built to cover more townships and villages. More than 40 million households will have access to optical-fiber broadband, and over 200 million mobile phone users will become 4G network users by the end of this year, according to the guideline.

About 60 million more people signed up to 4G accounts in the first quarter, meaning that 162 million people in China are 4G customers, according to government statistics.

Reported by English.news.cn.

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Rapid development of e-commerce in Henan

As the bonded commodity O2O shopping center opened and Henan cross-border trade clearance service e-commerce platform officially run, customers were rushing to purchase import commodity and made daily business volume up to 100,000 packages.

Statistics show that SMEs account for more than 50% of the application of e-commerce in Henan. And the proportion of foreign trade enterprise e-commerce application is even higher. There’re 3500 companies transact with e-commerce in 5000 foreign trade companies. At the same time, Henan province has attracted top e-commerce companies such as BAT, google, Oracle into Henan.

With the rapid development of e-commerce, new consumer demand is created as well as investment boom. Moreover, new opportunities are brought to mass entrepreneurship.

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