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The economy of Xinjiang basks in the glow of an industrial diversification campaign W'andering through the broadstreets of Urumqi, the capital city of the far-flung andsparsely—populated Xinjiang Uygur Autonomous Region, amixture of onrushing modernityand lingering Islamic exoticism is everywhere to be felt.     

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Local governments at all levels in China are taking efforts to curb soaring home prices, with Beijing introducing the strictest policies. On observing the increase of international crude oil prices, China raised gas prices for the first time this year. Foreign direct investment in China continued to expand in January and will remain high in 2011. Hot money, on the other hand, accounted for a small amount of capital inflows. Huawei Technology withdrew from its acquisition of the U.S. 3Leaf Systems and the Chinese Government has requested transparency in the U.S. approval procedure. Baidu, the biggest search engine in China, is facing a lawsuit for allegedly blocking competitor’s search results.     

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Property Tax The State Council on May 31 approved a national program to gradually push forward property tax reform,a signal that the long-debated tax may be already in the pipeline.     

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China vows to keep a stringent handle on the industrial overcapacity that is draining life from the economic revival. China Mobile pushes forward OPhone and its operating system in an aggressive push into the 3G market. As its tight grip over the market slips, the wireless titan cannot wait to regain lost ground. China's manufacturing sector continues to pick up steam as evidenced by the climbing PMI. Soaring prices of pork and eggs reignite fears over inflation. The buoyant real estate market appears to be...     

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China is expected to reap a bumper harvest this autumn, but grain security remains a long-term concern Despite sweeping natural disasters China is on track to achieve a bounti ful harvest for this autumn's grain yield,which usually accounts fo three fourths of the annual output,said Minister of Agriculture Han Changfu.     

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By ordering another hike in the reserve requirement ratio,China strengthens efforts to combat inflation.Housing prices continue to creep up in tracked cities.Domestic enterprises look to expand beyond China’s bor-ders as reflected in the soaring outbound direct investment.The aviation sector loses steam as profits fall dramatically.China’s Internet giant Tencent sees its profit growth slow down.     

MARKET WATCH

House prices continue heading north in most Chinese cities,defying government efforts to curb the property market fever. Chinese companies press ahead with outbound mergers and acquisitions, as they expand their footprint beyond China’s borders. China has boosted its holdings of the U.S. Treasury Securities for two consecutive months after previously shedding these assets. State-owned enterprises continue along a profitable path, with profits soaring in the first half of this year. China remains the world’s hottest initial public offering (IPO) market, despite a decrease in IPO cases in the first half.     

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Major Economic Figures In January 2010 CPI In January,the consumer price index(CPI),a main gauge for inflation,rose 1.5 percent from a year earlier,the highest growth in nearly two years.     

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Fairing Well Where is China's crisis-stricken export market heading? The latest session of the China Import and Export Fair,known as the Canton Fair,a bellwether for the trade climate,could provide some clues.With more foreign buyers roaming the fair's vast halls,the bustling trade show is providing a vivid illustration that an export turnaround is already underway.     

MARKET WATCH

Manufacturing activities continue to lose steam as the purchasing managers index drops for the third consecutive month. The U.S.retail giant Best Buy trims its China presence after struggling to survive amidcut-throat competition. But an increasing number of U.S. companies are still expanding into China to cash in on the vibrant market. The aluminum behemoth Chalco jumps back into the black due to growing prices of thelight metal. China’s leading portal website Sina makes a push into the online shopping market by acquiring a stake in an online apparel retailer.     

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China has toppled the United States from its decadeslong position as the world’s largest auto market for the second consecutive year. New yuan-denominated loans, totaling 7.95 trillion yuan ($1.2 trillion) in 2010, indicate mounting inflationary pressures. China’s foreign trade recoups strength, with both imports and exports hitting record highs in December 2010. Chinese steelmakers reel from skyrocketing iron ore prices. The Purchasing Managers Index for the non-manufacturing sector rebounds as the service sector picks up steam.     

MARKET WATCH

Pork prices in Beijing remained relatively stable despite the swine flu outbreak in Mexico. China's job market is still in the doldrums with the registered urban jobless rising slightly in the first quarter. The government is preparing to issue the third tranche of its stimulus package. China Minmetals Corp. received approval from the Australian Treasury to buy the assets of Oz Minerals Ltd. There were signs that international hot money has started to leave China. Surveys indicate that new Chinese parents a...     

Bulwark Against Abuse

New Export Control Law fights trade protectionism to safeguard national security Though China's new Export Control Law came into force at the end of last year, on December 1, 2020, its coming was anticipated earlier. In November, the prices of rare earth elements, of which China is the largest exporter in the world, had jumped in anticipation of possible restrictions once the law took effect.     

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Property Market Home prices in 70 large and mediumsized Chinese cities rose by 12.4 percent year on year in May,said the National Bureau of Statistics.It was only 0.4 percentage points lower than the record high growth rate in April.     

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No Double Downturn A"double dip"is unlikely for the Chinese economy in the second half of 2010，although the country's industrial value-added output and trade growth is expected to slow，said China's top industrial and commercial regulators.     

MARKET WATCH

Inflation continues to stretch policymakers’ nerves as consumer prices continue running high. Import growth has outpaced export,a reflection of China’s trade rebalancing.Consumption and investments are holding up, putting a solid floor under the slowing economy.Woes of the U.S. economy have sent a shiver throughout the globe, including China’s stock markets. The gloomy auto market has shown signs of recovery.     

Hydropower Development and Resettlement Policy on China's Nu River

Hydropower represents an important alternative form of energy in China, a country that currently uses coal to supply 78% of its electricity. However, evidence from large hydropower projects in China shows that the socio-economic and environmental costs of hydropower development are substantial. Construction on the first of the 13 planned dams on the Nu River began in the summer of 2008, and villages are already beginning to be displaced. Based on fieldwork in the area, we find that the local resettlement policies infringe upon the national regulations governing resettlement caused by major infrastructure development. This infringement includes high prices for resettlement homes, forcing villagers to leave agricultural production, a lack of programs for long-term economic development, and a lack of transparency in decision-making processes.     

Tougher Control,Higher Efficiency

正An early cold front hitting the nation this year and a resurgence of the economy caused global energy prices to skyrocket, as more energy is needed to produce, light and heat. China now faces the increasing double pressure of energy demand and energy saving, making improving energy efficiency the only option.     

20世纪80年代后期台湾泡沫经济的起灭及其对当前大陆经济政策的启示

本文回顾了20世纪80年代后期台湾泡沫经济的形成机制及其膨胀和破灭的原因。当前大陆经济也出现了与台湾泡沫经济时期极为相似的经济特征,而且股票市场和房地产市场也出现了资产价格飞涨的现象。对当前大陆经济运行的分析表明中国大陆经济已经具备了类似当年台湾泡沫经济的形成机制。针对中国大陆当前的资产价格泡沫,文章提出了实现经济内外均衡、拓展投资渠道、完善汇率制度以及加强资金流向监管等调控建议。     

MARKET WATCH

By ordering another hike in the reserve requirement ratio,China attempts to soak up excess liquidity.Chinese commercial banks issued higher-than-expected new loans in March,highlighting simmering inflation risks.House prices continue edging higher in most major cities,despite tough policies.State-owned enterprises are bursting with vitality,reaping juicy profits in the first quarter.China is bound to benefit from emerging global electric vehicle demand,though challenges remain.China’s telecom equipment maker Huawei cashes in on profitable overseas markets.