Daily Archives: 12/16/2015

Business, China, Indepth, News, Opinion, World News

China FDI inflow rises 1.9 pct in November

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   BEIJING, Dec. 11 (Greenpost) — Foreign direct investment (FDI) into the Chinese mainland rose 1.9 percent year on year to 64.9 billion yuan (10.4 billion U.S. dollars) in November, the Ministry of Commerce said Friday.

The growth slowed from a 4.2-percent rise in October.

For the first 11 months, FDI, which excludes investment in the financial sector, stood at 704.3 billion yuan, up 7.9 percent from the same period last year.

Foreign investment in the service industry rose 18.8 percent, with the high-tech service sector seeing a jump of 51.7 percent to 7.23 billion U.S. dollars.

High-tech manufacturing attracted 8.54 billion U.S. dollars of foreign investment during the January-November period, up 11.7 percent and accounting for 23.8 percent of total foreign investment in manufacturing.

Investment from the ASEAN, European Union, Hong Kong, and Macao continued to grow fast, while that from Japan, the United States and Taiwan dropped significantly.

The ministry also noted that more foreign firms invested in China through mergers and acquisitions, which accounted for 14.7 percent of the total FDI in January-October, up from 5.6 percent in the same period last year. Enditem

 

Source Xinhua           Editor Xuefei Chen Axelsson

 

Business, China, News, World News

China pilots RMB convertibility on capital account in FTZs

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BEIJING, Dec. 11 (Greenpost) — China has approved RMB convertibility on the capital account within 10 million U.S. dollars for the Tianjin, Guangdong and Fujian free trade zones (FTZs), the central bank said on Friday.

This is a significant step by China to open up its capital accounts. China allowed RMB convertibility on trade accounts nearly two decades ago, but almost all capital account transactions on the mainland are under varying degrees of control.

The move also came less than two weeks after the RMB was admitted by the International Monetary Fund into its Special Drawing Rights basket alongside the dollar, euro, pound sterling and yen on Nov. 30.

For each domestic institution outside of the negative list, the cap was set separately for both the cross-border revenue and the expenditure on yearly basis, the People’s Bank of China said in guidelines issued Friday.

The central bank supports FTZs to promote cross-border use of the yuan.

The guidelines encourage banks in the FTZs to deal with transactions between RMB and foreign exchange derivatives.

Cross-border RMB investment funds are welcomed in Fujian FTZ, while cross-border RMB transactions between non-banking financial institutions and the Hong Kong and Macao regions are permitted in Guangdong FTZ.

The guidelines also support institutional investors in Hong Kong and Macao to launch qualified domestic limited partnerships (QDLP) in Guangdong FTZ, raising RMB capital in the zone to invest in the Hong Kong capital market. Enditem

Source Xinhua ,  Editor Xuefei Chen Axelsson

 

Business, China, Energy, Environment, Exchange, Green-tech, Indepth, News, World News

Artist Olafur Eliasson’s art: Your Star

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By Xuefei Chen Axelsson

STOCKHOLM, Dec. 16(Greenpost)– A bright new star that Artist Olafur Eliasson lighted up during the Nobel Week  is actually a green star because it uses solar energy and uses little energy.

Your Star is a public artwork by DanishIcelandic artist Olafur Eliasson that celebrates groundbreaking scientific and literary achievements and the importance of new ideas generated by all of us in our everyday lives, according to Nobel Media.

Commissioned by Nobel Media, Your Star consists of a bright LED light integrated into a specially designed spherical casing that will be visible in the sky above Stockholm City Hall, the site of the Nobel Banquet.

The star is powered by solar energy that was collected during the long days of midsummer and stored in a battery.

A weather-dependent work, the star will first rise once the wind and rain of storm Helga have passed, and it will shine every night for the next week, from around 10:30 p.m. until 6 a.m., bringing a trace of the previous summer into the winter night.

Olafur Eliasson says: “Your Star shines old light. It makes the past present and illuminates a path for the future. The star lights up the Stockholm sky in celebration of the new knowledge, thoughts, and words of this year’s Nobel laureates.

But it is not only the past achievements of the award recipients that will lead to positive new steps for the future; Your Star is equally about the everyday inspiration and dreams that we should all nourish.

It encourages us to turn our dreams and hopes into potential for new ideas. It is a dream machine.” Eliasson envisages Your Star offering a subtle element of surprise and inspiration that cuts through the pragmatics of everyday life in the city.

For the nights that it shines over Stockholm, the star will become a point of connection around which to gather, discuss, and reflect.

click the link, you will see the artificial universe and your star.

http://www.olafureliasson.net/yourstar/