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Awash in Cash

Why do Chinese banks, swimming in savings, invest in U.S. Treasury bills when rates of return are far higher at home? The answer may lie in disparity among Chinese firms in productivity and access to credit

By Douglas Clement, Editor, The Region

In recent decades, few phenomena have been as globally significant as China’s astonishing economic transformation. Over a matter of years, it has transitioned from a poor nation dominated by small farmers and enormous, plodding state-owned enterprises into a dynamic economy where private companies shape international markets and annual GDP growth surges past expectations. As this is written, economists predict that China will soon eclipse Japan as the world’s second-largest economy, and it is arguably only a matter of time before the United States, too, places second.

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Exports Bounce Back: Increase of 17 percent in the first quarter

Minnesota export trends turned around in the first quarter of 2010, gaining 17 percent from the same period a year ago – the first year-over-year quarterly increase since the third quarter of 2008. The state exported US$3.9 billion in manufactured exports in the first quarter of 2010, representing a gain of US$569 million from the first quarter of 2009.

Minnesota's exports grew slightly less than U.S. manufactured exports, which gained 20 percent during the same period.

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China tops Japan as world's No. 2 economy

China surpassed Japan as the world's second-largest economy last quarter, capping the nation's three- decade rise from Communist isolation to emerging superpower.

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New World Bank loan to support sustainable development in poor rural areas of China

WASHINGTON– The World Bank’s Board of Executive Directors [on June 10] approved a loan of US$100 million to the People’s Republic of China to support sustainable development in poor rural areas in Chongqing Municipality, Henan Province and Shaanxi Province. The World Bank loan is supplemented by a grant of US$4.265 million from the Global Environment Facility focused on improving sustainable land resource management and climate change adaptation.

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World Bank remains upbeat about China’s growth prospects

BEIJING– China's economy has continued to grow robustly, with some softening recently, according to the World Bank’s latest China Quarterly Update released [June 18].

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Restructuring and further trade liberalization are keys to sustaining growth

The third WTO Review of China’s trade policies and practices and their impact on the functioning of the multilateral trading system took place in Geneva on 31 May and 2 June 2010.

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Unique Minnesota delegation travels to China to woo desired import…the Chinese tourist

By Greg Hugh, Staff Writer

A contingent representing the tourism industry of Minnesota recently attended the China Outbound Travel and Tourism Market (COTTM) held in Beijing, China. COTTM is the only business show dedicated to the China outbound travel and tourism industry.

Now in its 6th year, COTTM has become a firm fixture in the industry calendar. Over 200 exhibitors from 50 countries attended to showcase their destinations, travel products and services to a high number of Chinese hosted buyers. COTTM 2009 visitor numbers were up nearly 5 percent to a staggering 3,258 – all eager to secure the best destinations and deals for the Chinese outbound market.

The Chinese outbound market is growing at a phenomenal rate. China’s outbound tourism market is expected to exceed 51 million tours in 2010; a rise of 7 percent from 2009.   As the Chinese economy continues to grow (up 9 percent in 2008) and private incomes increase, traveling abroad is now becoming a regular part of Chinese life. The World Tourism Organization predicts that China will be the fourth largest source of outbound tourists by 2020 with a predicted 100 million travelers per year.

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(left to right) Doug Killian, Director Tourism, Mall of America; Paul Sherburne, International Marketing Manager, Explore Minnesota Tourism; Melody Zhou, General Manager, CIAC Travel, Inc.; Daniel O’Neil, Vice President of Strategy and Sales, Bloomington Convention & Visitor Bureau

COTTM provided the National Tour Association, USA (NTA) and its American pavilion members with an excellent way to meet Chinese outbound companies. As NTA’s member, CIAC Travel exhibited at the 2010 COTTM in Beijing with Explore Minnesota, Mall of America, and Bloomington Convention & Visitor Bureau. The delegation included Ms. Melody Zhou, General Manager of CIAC Travel; Mr. Douglas Killian, Tourism Director of Mall of America; Mr. Paul Sherburne, International Marketing of Explore Minnesota; Mr. Dan O’Neill, Vice President of Bloomington Convention & Visitors Bureau.

Prior to the opening of  COTTM, the delegation met with the largest tour operator in China – China Travel Service, and had successful meetings with general managers of outbound U.S. department and MICE department. The delegation also hosted a dinner at the Presidential suite of Raffle's hotel Beijing. The following guests were in attendance: Mr. Sandeep Bahl, China Director of Delta Airline; Mr. Hanxing Gu, Vice President of CITS (China International Travel Service Ltd), Mr. Hui Wang, General Manager of Beijing Baosheng Air Service Co. Ltd. Ms. Hua Ren, Producer of CCTV International. During the dinner different ways and opportunities to promote Minnesota as a destination were discussed. 

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(Left to Right) Doug Killian, Daniel O’Neil, Sandeep Bahl, Director of China & Hong, Kong, Delta Airlines; Melody Zhou, Jeffrey Hammerly, International Tourism Manager, Travel Portland; Paul Sherburne

 

Is it too late to enter China market?

By Andrew Moody, China Daily
 
BEIJING - Is it too late to enter the China market? Foreign companies have long seen the country with its 1.3 billion people as a potential bonanza. But have those foreign companies who have yet to make their move missed the boat?

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PepsiCo unveils US$2.5 billion spend

Cash for new plants, major expansion of research and development
 
By Ding Qingfen (China Daily)
 
SHANGHAI - PepsiCo, the world's second-largest food and beverage company, announced on Friday it would make an additional investment of US$2.5 billion in China over the next three years, a move indicating the company's growing confidence in the massive market.

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China Insight respects copyrights.  The articles that we publish from other sources are with the full permission of those sources.

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