Economic News
OECD Acknowledges China's Market Economy
(9/16/05) An official from the Organization of Economic Cooperation acknowledged China's market economy status during a press conference where the OECD published its first economic survey on China.
Private economy accounts for two-thirds of the nation's economy, nearly the same as Britain's economy prior to Margaret Thatcher's administration in the early 1980s. Having grown over 9.5 percent in the last decade, it is predicted that China's economy will continue its rapid growth.
Full article here.
China's Baidu Gives Google Competition
(9/16/05) Alexa Internet Rankings reports that the fifth most popular website in the world is none other than China's Google-like search engine, Baidu, which emulates Google's appearance and service.
Baidu beats the Google search engine along with competitors like Yahoo! and MSN as China's premiere search engine for Chinese-speaking people, but may lose its competitive edge in time, thanks to its much lower link revenue.
Full article here.
Industrial Production Up 16.1%
(8/15/05) China's large industrial industries grew 16.1 percent compared with last year in July, reporting 581.1 billion yuan in added value.
Also, chemical, equipment manufacturing, non-metal mineral products, and non-ferrous metal industries grew at a rate between 18.7 and 21.3 percent, while other light industries grew between 18 and 28.5 percent.
China's total industrial production went up 16.3 percent in the first seven months of this year for total growth of 3.81 trillion yuan, compared with the same period last year.
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9.5% Growth in China’s Economy
Higher Than Expected
Higher Than Expected
(7/20/05) Within the first half of the year, China's economy has experienced a 9.5% growth. Although down 0.2% from the previous year, analysts had expected a higher decrease because of macroeconomic regulations. The increase in farmers' incomes and an unstable investment structure are likely contributors to the decrease.
Full article here
China's Economy Faces Mild Slowdown
May Last Two Years
May Last Two Years
After three years of rapid growth, China's economy seems to be slowing down. According to a CRI report, the stagnation may last for one or two years, although nobody can predict the future.
The global market, a recent credit policy, and failure of the Chinese government to act in a timely manner to situations has been blamed for the slow-down.
Full article here.
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