Small loans grow 21% from January
Ended the third quarter this year, there were 20.86 million micro and small loan accounts outstanding in China, each with a credit limit of under RMB10 million. The number of micro and small loan accounts increased by 3.63 million from the beginning of 2019. Nationwide, the outstanding amount of micro and small loans amounted to RMB36.39 trillion, of which RMB11.31 trillion were small loans under RMB10 million each, an increase of 20.81% from the beginning of the year.
China to import 7mn tons of palm oil
11 Sept 2019 - China is forecast to import 7 million tons of palm oil in 2019/20, an increase of 500,000 tons over last year as palm oil is price competitive comparing with other lipids, according to China National Grain and Oils Information Center. Most of the palm oil are imported from Southeast Asia which is keeping its production outputs growing steadily.
China imports iron ore at higher prices
12 Jun 2019 - China imported 424 million tons of iron ore during the period of January to May, 5.2% less than a year ago, but the average import price surged 24.8% to RMB570.6 per ton.
Shanghai Electric builds solar plant for GFG Alliance
06 Jun 2019 - Shanghai Electric and GFG Alliance of Australia signed an agreement to build a solar power plant in South Australia, supporting the expansion of a local steel factory.
Nanjing Metro to issue RMB10bn bonds
28 May 2019 - Nanjing Metro Group was given a nod by the National Development and Reform Commission (NDRC) to issue RMB10 billion of corporate bonds for replenishing working capitals and for constructing subway transports. It is the second time a subway group, after Guangzhou Metro, is approved a green bond issuance.
Shanghai cuts redundancy to speed export tax rebates
27 Feb 2019 – Ever since the municipal of Shanghai launched a “single window” export tax rebate reporting and application system in early 2018, over 15,000 companies have been able to cut redundant reporting on 240 million items. At year-end 2018, a majority 80% of Shanghai’s export tax rebate applications were filed and completed through the “single window” method.
China's financial ODI soared 105% in 2018
02 Feb 2019 - All industries in China directly invested US$129.83 billion in overseas projects and companies in 2018, posting a 4.2% growth over a year ago. Among all kinds of investments, financial overseas direct investments (ODI) rocketed by 105.1% over a year earlier to a total value of US$9.33 billion. Non-financial overseas direct investments only grew by 0.3% to US$120.5 billion.
Zhejiang-owned firms earn stable profits
29 Jan 2019 – Zhejiang provincial government-owned companies earned stable incomes and profits, posting a double-digit growth in 2018. All Zhejiang-owned companies earned sales revenue of RMB871.45 billion, posting a 12.5% growth over 2017. They earned a total profits of RMB37.14 billion, climbing 16%. There were nine companies earning 10% or more profits. Ended 2018, Zhejiang province-owned companies had a combined total assets of RMB1.19 trillion, an increase of 8.1% over 2017. Their net assets also grew 8.2% to RMB480.89 billion.