China Still No 1 for Investment: E&Y China is still the most attractive destination for foreigninvestment, followed by India and the US, an Ernst & Youngreport found, after interviewing 1,500 corporate executives inFebruary and March across 57 countries, including 85 from China.The report also advises China to take advantage of Europe's debtcrisis to acquire local businesses. China Lowers Threshold for Foreign Investors China has eased assessment of qualified foreign institutionalinvestors (QFII) for long-term commitment to the nation's capitalmarket, pension funds and other investments, the China SecuritiesRegulatory Commission said. Currently there are 33 new QFIIsapplying for their first investment in China out of a $10.25billion quota, and 37 existing QFIIs jockeying for an additional$12.5 billion quota. One-Third Electronics Makers Stuck in Losses As many as 5,580 electronics manufacturers, or 33.9% of all thosetracked by the Ministry of Industry and Information Technology,reposted losses in the first two months of 2012, and their combinedsize of the losses soared 86.5% from the same period a year ago.The exit of a string of stimulus policies pounding the financialand real estate markets took the blame. The electronics industry'stotal profits were thus dragged down by 43.2% year on year to¥19.4 billion between January and February despite revenue up6.2% to ¥1.08 trillion. |
¥694m to Be Earmarked for Waste Treatment by 2015 China's government will invest ¥430 billion in wastewatertreatment and ¥263.6 billion in harmless disposal of urbandomestic garbage during the five years through 2015, according to aplan released by the State Council, the nation's cabinet. ¥7.6t of Transactions Paid by Credit Cards in 2011 The amount of credit card transactions in China jumped 48% to¥7.56 trillion in 2011, according to a report released by theChina Banking Association. The report also found that the number ofonline billing service users in China grew 21.6% to 167 millionlast year. Textile Industrial Output to Top ¥10t by 2020 Industrial output from China's textile manufacturing is expected todouble 2011's ¥5 trillion and total textile exports areexpected to hit $400 billion by 2020, the China Textile IndustryAssociation said.
It also predicted that spending on clothing inurban China would grow 12.5% annually between 2011 and 2020. $1 = ¥6.29.
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