|Top 10 Daily Business China News Alerts 04/20/2015|
|by Tom McGregor||Sun, Apr 19, 2015, 08:12 PM|
Stay Updated on Real China Business News at Real Time
1. China's 'Internet Plus' Strategy, A Net Minus
“The government needs to deepen reform to help these startup companies survive and thrive,” said Li Keqiang on Wednesday at an executive meeting of the State Council. The premier was speaking in the context of his much-discussed “Internet Plus” plan, unveiled on March 5 in his Government Work Report. Li gets high marks for recognizing that China needs new businesses, but his solution—active intervention to bring about the new economy—is misguided. He could, by drawing upon ancient Chinese philosophy, accomplish more by doing less.
2. China's Xi heads to Islamabad to unveil $46B investment
ISLAMABAD, Pakistan – Chinese President Xi Jinping heads to Islamabad Monday, April 20, for a rare visit to unveil a $46 billion investment plan that Pakistan hopes will end its chronic energy crisis and "transform" the country into a regional economic hub. With the plan, known as the China Pakistan Economic Corridor (CPEC), Beijing hopes to ramp up investments in Pakistan as part of its ambitions to expand its trade and transport footprint across Central and South Asia, while countering US and Indian influence.
1. What in the world does China own?
With an estimated $4 trillion (£2.7tn) of foreign reserves stashed away in various sovereign wealth funds, China has plenty of cash to splash. Despite the recent slowdown in the country's GDP, most developed economies would dream of an annual growth rate of 7%.
2. China automakers are taking over the SUV market
After years of losing out to foreign brands, China's automakers are winning in the world's hottest SUV market by employing a tried-and-tested strategy: offering them cheap. By flooding the market with comparable models at lower prices, Chinese automakers accounted for eight of the 10 bestselling sport utility vehicles in the first quarter, crowding out global nameplates like Toyota Motor Corp.'s RAV4 and Honda Motor Co.'s CR-V.
3. China's tourism needs more than rice cookers
The tourism boom brought on by Chinese outbound travelers during the recent Tomb Sweeping Day holiday has pushed hotel room reservations to more than 90 percent in Japan where tourists rush to see the cherry blossom during April. The news follows Chinese travelers' frenzy in purchasing electronic toilet seats and electric rice cookers from Japan during Spring Festival this year.
4. China rocking the global economic boat launched 70 years ago
WASHINGTON – With its huge new infrastructure bank and its ambitions for a globalized renminbi currency, China is leading the upending of a 70-year-old global order built on American economic power. Beijing’s rise was confirmed last week at the spring meetings of the World Bank and International Monetary Fund in Washington, the two institutions by which the economic vision of the United States has been propagated across the world since their founding in 1944.
5. CWC China LNG International Summit
The China LNG market is evolving rapidly. Falling LNG spot prices, combined with a gradual rise in domestic gas prices has led to increased interest from non-traditional LNG buyers in China. Private sector and smaller state-owned organisations are taking advantage of current market conditions and are beginning to actively seek LNG suppliers. With established state-owned companies under increasing pressure to free up infrastructure to more end-users as the Chinese government pushes for an increase in the share of gas in the country's energy mix, how will the next generation of LNG buyers impact China’s LNG landscape?
6. Why Africa is the next China
The conventional wisdom about China is that it is an emerging superpower, and that it will be a dominant geopolitical and economic force in the 21st century. Meanwhile, the conventional wisdom about Africa is that it remains a basket case, mired in poor governance, corruption, tyranny, poor infrastructure, and poor human capital.
7. Dongfeng and Peugeot Citroen in $ 200 Million JV Targeting Southeast Asia
Chinese vehicle maker Dongfeng and French partner Peugeot Citroen have announced plans for the development of new vehicle models meant to target the Southeast Asian market. The two companies have announced plans to spend over 215-million US dollars to create 10 new vehicle models between 2018 and 2020.
8. China Releases Pilot List of 'Sponge Cities' to Utilize Rainfall
China's central authorities have released a pilot list for 16 so-called 'sponge cities.' The 'sponge cities' are new projects being launched to use the full potential of rain water. CRI's Wang Mengzhen has the details.