China's NASDAQ Countdown

The mainland NASDAQ-like market is meant to fuel emerging companies,but the risks are high after nearly a decade of delibera- tion,the growth enterprise market (GEM) on the mainland will soon be opened,providing a boon to the country's start-up companies. Shang Fulin,Chairman of the China Securities Regulatory Committee (CSRC), vowed to push forward the debut of China's growth board to establish a multi-layer capi- tal market.     

Housing for All

New measures focus on controlling price hikes while maintaining the property sector's impetus to aggregate demand China's real estate market, like its stock market, is in urgent need of a "policy" remedy. But while the stock market needs policies to stimulate it, the real estate market needs policies to cool down the overheating investment and exorbitant prices. Real estate developers have had a rough 2005 with a series of measures taken to rein in the market. They seem to have taken     

China Takes Wing

COVER STORY If all goes according to plan, Chinese air travellers will be boarding big commercial airliners designed and manufactured in China by the year 2020. The aviation market, long dominated by Boeing and Airbus, will face a home grown challenge in a lucrative arena that is forecast to see China purchase 2230 new aircraft in the period leading up to 2025. It is hoped that many of those aircraft would be stamped “Made in China.” With government lending its weight to the development process, the civil aviation industry is aware it will take time to get into full flight and has fastened its seatbelts. Known for its high risk, hi-tech input and snail pace returns, the industry is taking it one step at a time all the way to the runway.     

A MATURING MARKET

China’s stock market is getting older and wiser, but by international standards it has a long way to go China’s stock market is still a teenager, but it’s a healthy one with dreams of becoming more like the grown-up markets internationally.Especially for China’s stock market, 1998 was a long time ago.That was the year Shenzhen Development Bank issued public stock—the first such kind approved by the Chinese Government.     

China＇s Housing Security System and Housing Rights Security for Citizens

The right to adequate housing is a basic human right. During the transition to the market economy in China,it is a new issue for the Chinese Government to ensure everyone, particularly the families with the low- to-medium incomes, has the access to adequate housing while increasing the supply of houses. Housing is a basic tight of people, and everyone in China will enjoy the adequate housing, said Wang Guangtao, the Chinese Minister of Construction.     

The Full Picture

Back in 1992, when China announced that it would build a socialist market economy, a question was posed to a Chinese del-egate: What is a socialist market economy? I clearly remember this delegate replying that the socialist market economy is a mar-ket economy under the leadership of the Communist Party of China (CPC). Twenty-six years have passed since then and we have never changed our position. As for those who speculated that China would change and move onto a different path upon its accession to the WTO, that was just their wishful thinking. There is more than one market economy model in this world.     

MARKET WATCH

TO THE POINT:The country was faced with heavy inflationary pressure as the CPI and PPI numbers both continued to run at a high growth rate.The government decided to enforce a tightened monetary policy and stock investors rushed to pull money out of the stock market and stash it in the banks.To save the stumbling stock market,QFIIs were allowed to triple their investments in China's financial markets.     

Property:The Original Sin

The Chinese property market is undergoing a correction after two years of investment mania. During this time,the consumer price index,a barometer of inflation,soared 7.9 percent in the first half of this year and now hovers at a high level of over 7 percent.Ren Yuling,a renowned economist and an adviser to the State Council,argues that property is the root cause of this round of inflation. In an interview with Dongfang Daily in early July,he called for commercial and residential developers to immediately reduce high property prices.     

OFF THE CHINESE PRESS

Stock Market ReformsThe China Securities RegulatoryCommission (CSRC) announced it would liftthe controls on new share quotas and open theprices of new shares to market fluctuations inMarch 2001. In China, new stocks are first soldon the primary market. When they are subsequently resold on the regular, or secondary,market, the prices usually rise dramatically.From 1996 to the first half of 2000, theannual profit rate in the primary market was67.72 percent. It hit a record high in 1997 at1…     

Friends from an African “Country of Thousand Hills”

As the warmth of spring began to spread,a Rwandan delegation led by Celestin Kabahizi,Governor of Western Province,paid a visit to Beijing and Yunnan in late March.Rwanda is known as a "country of a thousand hills" in Central Africa.Though it is in the tropical zone near the equator,it is a land of high elevation;it does not experience the severe cold of bitter winter in China’s north,nor intense heat of summer in China’ south,but rather enjoys spring weather all year round.     

Fueling the Future

<正>An industrial park gears up to meet the hydrogen market demands of Beijing"In the sprawling Daxing International Hydrogen Energy Demonstration Zone,adjacent to the new international airport in south Beijing,a large white building resembling a spaceship is an eye-catcher.Known as Hypower,it is the world’s largest hydrogen refueling station.With eight fuel pumps and a daily hydrogenation capacity of 4.8 tons,it beats all competitors across the globe.     

Pension Funds Are Not a Straw for Stock Markets to Clutch at

正As pension funds will soon be permitted to invested in stock,the market is highly expectant that they will expand the source of funds in China’s A-share market.However,when it comes to pension funds,which are special in nature,safety should come first once they are invested in such markets.For China’s A-share market,the significance of pension funds lies in offering a new long-term and steady investment source,rather than merely a short-term market increase.In the mid and     

Business in Brief

Airbus to Build Plant in ChinaTo commemorate its 20th year in the Chinese market, Airbus is to establish its firstaircraft manufacturing plant in China. The company says that industrial and technologicalcooperation between the two sides hit a new high in 2005. More than half of the 3,700Airbus planes in operation have parts made in Chinese factories. It is expected that by2007, China will become a major producer of single-engine aircraft. China is an importantAirbus market. From January …     

A Colorful People on "China's WateTower"

Living in a place where China'stop three rivers originate, people of the Yushu Tibetan Autonomous Prefecture inQinghai Province of Northwest China prefer to call their home "China's Water Tower." The three rivers include the Yangtze, Yellow, and Lancang, which is known as Mekong and "the Oriental Danube" after it flows out of China.     

hat Does the Rise in RMB Interest Rates Signify？

ON October 28, 2004,the People‘s Bank ofChina took a U-turn and, after almost a decade of reductions, announced a 0.27 percent increase in RMB interest rates. This superficially inconsequential rise caused quite a stir on the international market. Mining stock plummeted,as did the prices of metals and crude oil futures. This reflexive investor response is just one indication that the Chinese economy has become a major driving force for global economic growth. Its huge demand has sustained high prices for oil and other staple commodities on the international market, international speculators itch to pour their hot money into China, and overseas investors too see it as a potential Klondike.     

Right Timing for Price Reform

正Chinese Premier Li Keqiang pledged to accelerate price reform at a recent executive meeting of the State Council.Li pointed out that although price reform is difficult to carry out,it has long-term benefits and is a necessary step toward establishing the market mechanism.Price reform constitutes the crux of marketoriented reform.China’s market-oriented reform has to deal with two core issues:the relationship between     

SAVORING THE CHINESE BOOM

<正>Nestlégrabs a big slice of the Chinese market with continuous localization and innovation"Nestlé’s confidence in the Chinese market is not empty talk,but is reflected in continuous investment and long-term strategies.Nestléis here for the market,but it also wants to be integrated into the local economy.Nestlé has already become an indispensable part of China’s dairy and coffee supply chain."——Jonathan Dong,Vice President of     

China Goes Electric

<正>In the history of the auto industry, China is a latecomer, al-though it became the world’s largest auto market in the last two years. Now the country is gearing up to take the lead in at least     

Oil Priceson The Decline

Falling oil prices have triggered a series of market response and speculation In the past several months,oil prices on the international market have dropped 25 percent from a high point in June,which will have a subtle influence on the global political and economic scene.Despite claims that oil prices have hit a low point,the future trend is hard to predict     

A Customer-centered Brand Building Strategy——An Interview with Zhang Zhanxin,General Manager of the New Mainland Hotel

Over the past three decades of reform and opening-up, the garment in- dustry in China has seen fast development. Liuhua Garments Commercial Circle has had a prominent place in Guangdong Province＇s wholesale garment market, and even the greater China market. The area boasts varied styles of clothes and a large number of vendors selling to niche clients. As an important part of Liuhua Garments Commercial Circle, New Main- land Garment Wholesale Market is a professional large-scale marketplace which realized the importance of subdividing the market and brand building at a very early stage. In keen market competition, New Mainland Garment Wholesale Market has gone through ups and downs, transforming from a state-owned operation into a joint venture, and finally returning to state ownership. However, it has continually striven to build a professional market environment and brands for its vendors.