北欧绿色邮报报道（记者陈雪霏）－－瑞典国际生物能协会Svebio会长，CEO古斯塔夫梅林16日呼吁欧盟统一支持各国通过税收鼓励使用生物能源。
他说，瑞典前几天实行了通过税收调节鼓励使用生物能的政策效果很好。他是在接受北欧绿色邮报记者采访时说这番话的。
他说，为期两天的高级生物燃料大会在飞机场召开本身就是想向大家展示，生物能的质量很好，飞机上都可以使用混合能源了。本次大会主要讨论上到飞机，下到陆地和海上轮船等交通工具如何实现2030年实现交通0排放，或者说不使用任何化石燃料的远景目标做贡献。
梅林说，瑞典目前在交通方面已经实现了12%的生物能，这是过去五年来取得的成绩。
会上，英国，美国，芬兰和瑞典，以及欧盟的代表都介绍了各自的经验和研究成果。
北欧绿色邮报网报道（记者陈雪霏）－－瑞典NCC道路建设公司旗下的电气化公路公司（Elways）目前正在进行电气化公路充电试验。
Elways负责人介绍说，此前人们有很多设想，最有名的就是在空中建立轨道让后让轿车在6米高的轨道上行走。计算下来，成本太高。而他所发明的公路上的微型双轨主要是用来充电的。
这位负责人说，对于电动车来说最大的问题是电池的电力不足。充一次电只能跑最多不到100 公里。如果是大卡车，需要的电池更多，更重。很不方便。那么他发明的电动轨道是两个一厘米宽的两个槽，电动车可以通过走这个轨道的过程来充电。这样，跑上一段时间，就可以把电充满了。
这位负责人说，他们设想电动轨道要建在高速公路上，这样会更安全。针对冬季的下雪，夏天的下雨问题，他们一年四季已经试验3年了，在任何天气情况下都试验过了，没有问题。目前他们只建了150米长的充电轨道。
这样的建筑成本不及空中轨道的五分之一或六分之一。因此，容易让人接受。根据目前的进口能源花费，两年就能收回成本。同时，他们在和瑞典的邮政部门合作，希望将来邮政用车都用这种充电轨道。
与其说是电气化公路，其实也可以说是一个可以在上面运行的充电桩。发明人说，有了这样的轨道，其实汽车改造是很简单的事情。
预计，再有两三年，这个试验就会有结果是否上马。目前，这是瑞典有关方面认为实现可持续交通的一个可行性项目，因此，一直在给予资助进行试验。参与的有11家公司，企业，皇家科技学院，瑞典道路交通管理局，阿兰达机场和斯德哥尔摩市。
记者是在参加瑞典生物能源协会组织的高级生物能源大会期间进行上述采访的。
另外，此前，记者还走访了一个生产铺路用的沥青混凝土材料。他们说，他们的生产过程非常节能，因为他们利用回收的原料来生产，也生产低温沥青，只有18度。
Justification: British director Stephen Frears never shies away from taking on people’s dark and tragic sides, doing so with warmth, passion and a sense of humor.
This year’s receiver of the Lifetime Achievement Award is a filmmaker who is not afraid to take a stand for those who exist at the margins of society. His filmmaking ranges from political films with social pathos to grand epics with the biggest stars. Regardless of what form the story takes, Stephen Frears shows us that he is a director with a genuine curiosity for people’s life stories.
Stephen Frears has since his breakthrough with My Beautiful Laundrette (1984) mesmerized the audience with a series of acclaimed films. The director has been nominated for two Oscars with The Grifters (1990) and The Queen (2006), and awarded with the Silver Berlin Bear for The Hi-Lo Country (1998) at the Berlin International Film Festival. His latest film Philomena (2013) was shown during the Stockholm International Film Festival two years ago and was praised by both audiences and critics.
In the exhilarating thriller The Program (2015), Frears narrates the dramatic story of Lace Armstrong. The undefeated Tour de France champion was discovered to be involved in the most sophisticated doping program in the history of cycling. Starring Ben Foster as Armstrong and Chris O’Dowd as David Walsh, the journalist who devoted years to reveal the scandalous fraud, The Program is a gripping story with a deeply psychological portrait of its main characters.
Cast: Ben Foster, Lee Pace, Dustin Hoffman, Chris O ‘Dowd, Elaine Cassidy, Jesse Plemons, Laura Donnelly.
The Program has premiere in Swedish cinema December 4. Distributor: AB Svensk Filmindustri.
The Stockholm Lifetime Achievement Award is presented annually to honor and acknowledge a longstanding career and an outstanding achievement in cinema. The prestigious award, in the shape of a 7,3kg (16 lb) Bronze Horse is the heaviest film award in the world. It is also a paraphrase on a national design icon, the Swedish Dala horse, and was created by artist Fredrik Swärd. The prize has previously been awarded to directors such as Jean-Luc Godard, Quentin Tarantino, David Cronenberg, David Lynch, Oliver Stone and Mike Leigh.
ANKARA, Sept. 5 (Xinhua ) — The Chinese economy has entered a “new normal” status and the growth rate of economy is predicted to be around 7 percent in the coming 4 to 5 years, said Chinese Finance Minister Lou Jiwei here on Saturday.
Lou said it in a written statement after the 2-day G20 Finance Ministers and Central Bank Governors Meeting in Ankara Turkey.
Zhou Xiaochuan, People’s Bank of China governor pointed out in the joint statement that there is no foundation that RMB will keep devaluing for a long term.
Zhou Xiaochuan stated that the bubble in Chinese stock market keep increasing before June 2015. The Shanghai Composite Index has mounted up 70 percent from March to June.
Risks as Investors leverage rapid rise occur during this period of time. China has implemented the correction phase of stock market for three times among which the third time in August has some global impacts.
China has been taking measures to prevent its economy from systematic risk including the PBOC providing liquidity to the market through multiple channels.
The measures taken by Chinese government has prevented the stock market from decline in precipice way and the occurrence of systematic risk.
According to the statement, since the August correction in stock market, the Investors leverage in Stock market has been going down significantly and the real economy has not been impacted.
The reform of the middle price quotation of RMB exchange rate mechanism on August 11 is an important step to the marketing reform of RMB rate.
RMB was devalued for a certain degree after the reform, but the RMB was over valued for reasons like the value-up of U.S. dollar ,the generally value depreciate of Currency in emerging market economies.
“But there is no substantial transformation in the real economy of China and large surplus still remains in the foreign trade of China, so there is no foundation that RMB will keep devaluing for a long term,” Governor Zhou strengthened in the Statement.
“The status of Chinese economy is till in predication. The Chinese Economy has entered a “new normal” status and the growth rate of economy is predicted to be around 7 percent in the coming 4 to 5 years” Chinese Finance Minister of Lou Jiewei said in the joint statement.
It is stated that there are mainly two reasons that the growth rate of China will enter the 7 percent period.
Firstly, the rapid growth rate which keeps 9-10 percent in the past and highly depends on the stimulation of policy is not sustainable, and is over the potential growth rate of China which lead to over capacity and mass increase of inventory. It will take years to consume these over capacity and inventory.
The next 5 years will be a painful period for the reform of Chinese economy, and the main goals need to be achieved by 2020. China’s economy will be mainly driven by consumption rather than investment and foreign trade during the reforming period, and this will not be an easy job to accomplish.
Secondly, China’s economic cycle is different with the developed countries. Developed countries generally initiated the process of deleveraging after the global crisis, however, China initiated its leveraging process between 2009 and 2010 and achieved the 10 percent in growth rate.
The contribution rate to growth of global economy was as high as 50 percent above during that time. China now is initiating its process of deleveraging and the growth rate will down to 7 percent but still making 30 percent contribution rate to growth of global economy.
Lou stressed in the statement that there are some positive changes in Chinese economy despite the lower of growth rate, including the contribution rate to growth of consumption comes higher than that of investment, the proportion of service in GDP over passed industry, the proportion of trade surplus in GDP has been decreasing, 7 million new jobs was created in the first half year, the quality of economic growth keeps rising etc.
China will continue to implement a proactive fiscal policy and the increasing rate of central government spending is predicted to be 10 percent, which is higher than the 7 percent budget.
China is taking measures to plug fiscal gap to maintain moderate economic growth and support the structural reform, the statement added.
“The Chinese government will not pay particular attention to a seasonal short term economic fluctuation, and will keep the stability of macroeconomic policies,” Lou pointed out in the statement.
China has achieved a 7 percent growth despite the decreasing of demographic dividend and falling on rate of capital return.
The huge potential of Chinese economy lies in reform and China is unswervingly promote reform and opening up in accordance with the established plan.
“G20 financial ministers and central bank governors have talked about the economy problems in China and we are not pessimistic about China keeping the 7 percent growth rate in the future,’ Deputy Prime Minister of Turkey Cevdet Yilmaz said in the press conference Saturday in Ankara. Enditem
DALIAN, Sept. 8 (Xinhua) — Global institutions should better represent the world’s emerging economies, chief among them China, to reflect shifting geo-political realities, said Klaus Schwab, founder and executive chairman of the World Economic Forum, on Tuesday ahead of its annual summer meeting in China.
Robust economic growth from countries like China and India are signs that Asia is once again the economic center of the world, a fact that Schwab said is not being adequately reflected in international governance.
China has long sought greater clout in global institutions commensurate with its growing economic might. The country has led the creation of the Asian Infrastructure Investment Bank, an alternative to the International Monetary Fund and the World Bank, with both developing and developed countries as its perspective founding members.
“I’m very happy that China is taking leadership in developing infrastructure not only in China, but having regional cooperation,” Schwab said.
He said that rather than competing with the IMF and the World Bank, the AIIB will complement existing institutions to fund a trillion dollar infrastructure investment gap, much of it in Asia.
China’s outreach also comes at a time when growth in the world’s second largest economy is moderating on soft investment and trade. Economic growth slowed to 7 percent during the first half this year as traditional drivers such as real estate, heavy industries and exports run out of steam.
But Schwab said the slowdown is “a necessity to transform the economy from production and export-oriented to a more consumer-led and innovation-based model.”
“The future growth will come not so much from traditional sources like manufacturing….China has to orientate its economy towards innovation and creativity,” Schwab said.
China’s vast manufacturing sector has been saddled with overcapacity as domestic and global demand for its industrial goods have weakened amid economic slowdown.
Authorities have since this year announced plans to nurture tech-intensive industries to help China regain its competitive edge in manufacturing. Meanwhile, China’ s budding internet sector has churned out a legion of innovative firms from Alibaba and Tencent to taxi-hailing startup Didi Kuaidi that helps the economy adapt to its new consumers.
These companies, and western equivalents such as Uber and Airbnb, have come up with what Schwab called “a new approach to old business models,” and brought innovation “not just to one product, but the whole system.”
Competitiveness of the Chinese economy in this new era of disruptive technologies, he said, will come from the agility and speed at which businesses adopt new technologies.
“I’ve seen China confronted many times with what seem insurmountable problems,” Schwab said, “What I’m always impressed with is the vision behind China’s economic policies, which allows the country to meet those challenges.” Enditem
Spotlight: China economy enters “new normal” eyeing 7 pct growth rate: G20
ANKARA, Sept. 5 (Xinhua ) — The Chinese economy has entered a “new normal” status and the growth rate of economy is predicted to be around 7 percent in the coming 4 to 5 years, said Chinese Finance Minister Lou Jiwei here on Saturday.
Lou said it in a written statement after the 2-day G20 Finance Ministers and Central Bank Governors Meeting in Ankara Turkey.
Zhou Xiaochuan, People’s Bank of China governor pointed out in the joint statement that there is no foundation that RMB will keep devaluing for a long term.
Zhou Xiaochuan stated that the bubble in Chinese stock market keep increasing before June 2015. The Shanghai Composite Index has mounted up 70 percent from March to June.
Risks as Investors leverage rapid rise occur during this period of time. China has implemented the correction phase of stock market for three times among which the third time in August has some global impacts.
China has been taking measures to prevent its economy from systematic risk including the PBOC providing liquidity to the market through multiple channels.
The measures taken by Chinese government has prevented the stock market from decline in precipice way and the occurrence of systematic risk.
According to the statement, since the August correction in stock market, the Investors leverage in Stock market has been going down significantly and the real economy has not been impacted.
The reform of the middle price quotation of RMB exchange rate mechanism on August 11 is an important step to the marketing reform of RMB rate.
RMB was devalued for a certain degree after the reform, but the RMB was over valued for reasons like the value-up of U.S. dollar ,the generally value depreciate of Currency in emerging market economies.
“But there is no substantial transformation in the real economy of China and large surplus still remains in the foreign trade of China, so there is no foundation that RMB will keep devaluing for a long term,” Governor Zhou strengthened in the Statement.
“The status of Chinese economy is till in predication. The Chinese Economy has entered a “new normal” status and the growth rate of economy is predicted to be around 7 percent in the coming 4 to 5 years” Chinese Finance Minister of Lou Jiewei said in the joint statement.
It is stated that there are mainly two reasons that the growth rate of China will enter the 7 percent period.
Firstly, the rapid growth rate which keeps 9-10 percent in the past and highly depends on the stimulation of policy is not sustainable, and is over the potential growth rate of China which lead to over capacity and mass increase of inventory. It will take years to consume these over capacity and inventory.
The next 5 years will be a painful period for the reform of Chinese economy, and the main goals need to be achieved by 2020. China’s economy will be mainly driven by consumption rather than investment and foreign trade during the reforming period, and this will not be an easy job to accomplish.
Secondly, China’s economic cycle is different with the developed countries. Developed countries generally initiated the process of deleveraging after the global crisis, however, China initiated its leveraging process between 2009 and 2010 and achieved the 10 percent in growth rate.
The contribution rate to growth of global economy was as high as 50 percent above during that time. China now is initiating its process of deleveraging and the growth rate will down to 7 percent but still making 30 percent contribution rate to growth of global economy.
Lou stressed in the statement that there are some positive changes in Chinese economy despite the lower of growth rate, including the contribution rate to growth of consumption comes higher than that of investment, the proportion of service in GDP over passed industry, the proportion of trade surplus in GDP has been decreasing, 7 million new jobs was created in the first half year, the quality of economic growth keeps rising etc.
China will continue to implement a proactive fiscal policy and the increasing rate of central government spending is predicted to be 10 percent, which is higher than the 7 percent budget.
China is taking measures to plug fiscal gap to maintain moderate economic growth and support the structural reform, the statement added.
“The Chinese government will not pay particular attention to a seasonal short term economic fluctuation, and will keep the stability of macroeconomic policies,” Lou pointed out in the statement.
China has achieved a 7 percent growth despite the decreasing of demographic dividend and falling on rate of capital return.
The huge potential of Chinese economy lies in reform and China is unswervingly promote reform and opening up in accordance with the established plan.
“G20 financial ministers and central bank governors have talked about the economy problems in China and we are not pessimistic about China keeping the 7 percent growth rate in the future,’ Deputy Prime Minister of Turkey Cevdet Yilmaz said in the press conference Saturday in Ankara. Enditem
By Xuefei Chen Axelsson
This morning I called my mother who is in Beijing. She told me that during the 9.3 military parade in Beijing, the weather was extremely good and the blue sky really appeared which made her very happy.
Then she asked me a question with some disappointment.
“Why didn’t your country leader come to Beijing to attend the 9.3 Parade?” she asked.
I didn’t know how to answer this question. I said because we had a big time difference of 6 hours. So when Beijing began the parade, we were sleeping. But I know the Beijing people who happened to be in Stockholm didn’t sleep and watched the parade with smartphones and followed the rythem of the motherland.
Then I said maybe because Russian Prime Minister Vladimir Putin was there so the west didn’t like him and they didn’t attend. Or maybe because they were not happy to see China was very strong.
I learnt that Sweden commented about the bombing of Hiroshima and Nagasaki which helped ended the Second World War and the Japanese invasion of China. Now they said there should be no atomic bombs and under no circumstance can man use it.
That was in the belief that we don’t want any war, we only want peace.
I said but there are large scale reports about the parade in Swedish media.
But why didn’t western leaders attend the parade? To be honest, I didn’t know. I thought they might feel not very happy.
What do you think? leave your comments.
BEIJING, Sept. 9 (Xinhua) — Although growth uncertainties abound home and abroad, China has plenty of policy options — especially on the fiscal front — to put the economy on track to deliver the around 7 percent annual target.
In its latest effort, the Ministry of Finance on Tuesday put forward multiple fiscal policies aimed at stabilizing growth, such as coordinating funds to accelerate project construction, activating idle money and widening tax breaks.
Other measures include guidance funds for small and emerging businesses, and promoting public-private-partnerships (PPP).
China is battling a property downturn, industrial overcapacity, sluggish demand and struggling exports, which dragged growth down to 7 percent for the first half (H1) of the year.
On top of that, fresh pressures from capital market volatility, currency devaluation in emerging markets, and slumping global commodity prices are further muddying growth prospects.
To achieve the full year growth target, the ministry said it will closely monitor the changing dynamics in the economy and respond with more effective and targeted fiscal policies to support growth, an area where analysts say hold vast potential to shore up growth.
Fiscal surplus for the January-July period was 383 billion (60.22 billion U.S. dollars), leaving plenty room for expansionary policies to increase the budget deficit to 2.3 percent of GDP for 2015, up from last year’s target of 2.1 percent.
Within annual budget, China could record a fiscal deficit of 2.1 trillion yuan for the August-December period, 200 billion yuan more than the same period last year, according to a recent report by China International Capital Corp. (CICC).
In addition, the government’s ongoing drive to activate unspent fiscal funds will make the expansionary fiscal policy more sustainable.
According to the finance ministry, some 13.1 billion yuan of idle fiscal funds have been retrieved and will be redistributed to growth-stabilizing sectors, and 243.8 billion yuan recovered to local budgets.
The more efficient use of idle fiscal funds is equivalent to increasing the government’s disposable funds beyond the budget without raising the government sector’s debt ratio, noted a CICC report.
Meanwhile, to dissolve debt risks of local governments, China has allowed them to replace existing debts with new bonds. The top legislature has approved the expansion of a debt swap program for local governments worth 3.2 trillion yuan in 2015.
On the back of such fiscal support, China has stepped up spending on key infrastructure such as railways in the western regions, renovation of substandard housing and underground utilities, which have all helped boost economic activity already.
“We think infrastructure-investment growth will likely be revived from July’s 16 percent year on year to 20 percent in the coming months, which in turn will provide, at the very least, a counterbalance against China’s ongoing property and heavy industry downturn,” noted a UBS report.
In an assuring message to the market, China’s top economic planner on Monday said the world’s second largest economy is stabilizing and turning for the better, citing stabilizing power use, rail freight and a warming property market as proof for the improvement.
“The economic operation is expected to maintain steady expansion to realize the full-year growth target,” the National Development and Reform Commission said. Enditem
China seeks to combine PV and agriculture as new industrial model
BEIJING, Sept. 6 (Xinhua) — China sought to create a new model for the combination of PV power generation and modern agriculture.
With the treat of anti-dumping auction from the United States and Europe potentially restricting PV enterprises’ sales channels, creating additional demand locally is now essential for PV firms.
Shi Dinghuan, President of Association of Renewable Energy of China, said that developing agricultural PV market has important implications for the country’s agricultural transformation in the long term, while, in the short term, PV agriculture would be the valid measure for PV industry to solve the industrial dilemma. Enditem
News Analysis: Fiscal stimulus to assume bigger growth-supportive role
BEIJING, Sept. 9 (Xinhua) — Although growth uncertainties abound home and abroad, China has plenty of policy options — especially on the fiscal front — to put the economy on track to deliver the around 7 percent annual target.
In its latest effort, the Ministry of Finance on Tuesday put forward multiple fiscal policies aimed at stabilizing growth, such as coordinating funds to accelerate project construction, activating idle money and widening tax breaks.
Other measures include guidance funds for small and emerging businesses, and promoting public-private-partnerships (PPP).
China is battling a property downturn, industrial overcapacity, sluggish demand and struggling exports, which dragged growth down to 7 percent for the first half (H1) of the year.
On top of that, fresh pressures from capital market volatility, currency devaluation in emerging markets, and slumping global commodity prices are further muddying growth prospects.
To achieve the full year growth target, the ministry said it will closely monitor the changing dynamics in the economy and respond with more effective and targeted fiscal policies to support growth, an area where analysts say hold vast potential to shore up growth.
Fiscal surplus for the January-July period was 383 billion (60.22 billion U.S. dollars), leaving plenty room for expansionary policies to increase the budget deficit to 2.3 percent of GDP for 2015, up from last year’s target of 2.1 percent.
Within annual budget, China could record a fiscal deficit of 2.1 trillion yuan for the August-December period, 200 billion yuan more than the same period last year, according to a recent report by China International Capital Corp. (CICC).
In addition, the government’s ongoing drive to activate unspent fiscal funds will make the expansionary fiscal policy more sustainable.
According to the finance ministry, some 13.1 billion yuan of idle fiscal funds have been retrieved and will be redistributed to growth-stabilizing sectors, and 243.8 billion yuan recovered to local budgets.
The more efficient use of idle fiscal funds is equivalent to increasing the government’s disposable funds beyond the budget without raising the government sector’s debt ratio, noted a CICC report.
Meanwhile, to dissolve debt risks of local governments, China has allowed them to replace existing debts with new bonds. The top legislature has approved the expansion of a debt swap program for local governments worth 3.2 trillion yuan in 2015.
On the back of such fiscal support, China has stepped up spending on key infrastructure such as railways in the western regions, renovation of substandard housing and underground utilities, which have all helped boost economic activity already.
“We think infrastructure-investment growth will likely be revived from July’s 16 percent year on year to 20 percent in the coming months, which in turn will provide, at the very least, a counterbalance against China’s ongoing property and heavy industry downturn,” noted a UBS report.
In an assuring message to the market, China’s top economic planner on Monday said the world’s second largest economy is stabilizing and turning for the better, citing stabilizing power use, rail freight and a warming property market as proof for the improvement.
“The economic operation is expected to maintain steady expansion to realize the full-year growth target,” the National Development and Reform Commission said. Enditem
BEIJING, Sept. 7 (Xinhua) — Chinese investors holding a stock for more than one year will be exempted from a 5-percent dividend tax from Tuesday, authorities said.
Those who have held a stock for one month or less will have to pay 20 percent of the dividend they receive as income tax when they sell the stock, the Ministry of Finance said Monday in a statement jointly released with the country’s taxation authority and the securities regulator.
People who have held a stock for over one month to one year will have to pay a 10 percent dividend tax when they sell the stock, the statement said.
This move is part of the government’s efforts to promote long-term investment following a stock market rout since mid-June.
The Shanghai Composite has plunged more than 40 percent from a peak seen on June 12. Enditem
China seeks to combine PV and agriculture as new industrial model
BEIJING, Sept. 6 (Xinhua) — China sought to create a new model for the combination of PV power generation and modern agriculture.
With the treat of anti-dumping auction from the United States and Europe potentially restricting PV enterprises’ sales channels, creating additional demand locally is now essential for PV firms.
Shi Dinghuan, President of Association of Renewable Energy of China, said that developing agricultural PV market has important implications for the country’s agricultural transformation in the long term, while, in the short term, PV agriculture would be the valid measure for PV industry to solve the industrial dilemma. Enditem
News Analysis: Fiscal stimulus to assume bigger growth-supportive role
BEIJING, Sept. 9 (Xinhua) — Although growth uncertainties abound home and abroad, China has plenty of policy options — especially on the fiscal front — to put the economy on track to deliver the around 7 percent annual target.
In its latest effort, the Ministry of Finance on Tuesday put forward multiple fiscal policies aimed at stabilizing growth, such as coordinating funds to accelerate project construction, activating idle money and widening tax breaks.
Other measures include guidance funds for small and emerging businesses, and promoting public-private-partnerships (PPP).
China is battling a property downturn, industrial overcapacity, sluggish demand and struggling exports, which dragged growth down to 7 percent for the first half (H1) of the year.
On top of that, fresh pressures from capital market volatility, currency devaluation in emerging markets, and slumping global commodity prices are further muddying growth prospects.
To achieve the full year growth target, the ministry said it will closely monitor the changing dynamics in the economy and respond with more effective and targeted fiscal policies to support growth, an area where analysts say hold vast potential to shore up growth.
Fiscal surplus for the January-July period was 383 billion (60.22 billion U.S. dollars), leaving plenty room for expansionary policies to increase the budget deficit to 2.3 percent of GDP for 2015, up from last year’s target of 2.1 percent.
Within annual budget, China could record a fiscal deficit of 2.1 trillion yuan for the August-December period, 200 billion yuan more than the same period last year, according to a recent report by China International Capital Corp. (CICC).
In addition, the government’s ongoing drive to activate unspent fiscal funds will make the expansionary fiscal policy more sustainable.
According to the finance ministry, some 13.1 billion yuan of idle fiscal funds have been retrieved and will be redistributed to growth-stabilizing sectors, and 243.8 billion yuan recovered to local budgets.
The more efficient use of idle fiscal funds is equivalent to increasing the government’s disposable funds beyond the budget without raising the government sector’s debt ratio, noted a CICC report.
Meanwhile, to dissolve debt risks of local governments, China has allowed them to replace existing debts with new bonds. The top legislature has approved the expansion of a debt swap program for local governments worth 3.2 trillion yuan in 2015.
On the back of such fiscal support, China has stepped up spending on key infrastructure such as railways in the western regions, renovation of substandard housing and underground utilities, which have all helped boost economic activity already.
“We think infrastructure-investment growth will likely be revived from July’s 16 percent year on year to 20 percent in the coming months, which in turn will provide, at the very least, a counterbalance against China’s ongoing property and heavy industry downturn,” noted a UBS report.
In an assuring message to the market, China’s top economic planner on Monday said the world’s second largest economy is stabilizing and turning for the better, citing stabilizing power use, rail freight and a warming property market as proof for the improvement.
“The economic operation is expected to maintain steady expansion to realize the full-year growth target,” the National Development and Reform Commission said. Enditem
BEIJING, Sept. 8 (Xinhua) — China’s output of new energy vehicles soared nearly 400 percent year on year in August to 24,500 units, the Ministry of Industry and Information Technology (MIIT) said on Tuesday in a statement on its website.
The new energy vehicle output includes 9,175 pure electric passenger cars and 6,778 hybrid passenger cars, both up around 300 percent year on year. Production of pure electric and hybrid commercial vehicles stood at 6,446 and 2,142 units respectively in August, up 2,100 and 148 percent year on year.
China produced a total of 123,500 new energy vehicles from January to August, up 300 percent over the same period of last year, including 52,100 pure electric passenger cars, 32,800 hybrid passenger cars, 28,300 pure electric commercial vehicles and 10,200 hybrid commercial vehicles. Enditem
China scraps dividend tax for long-term investors
BEIJING, Sept. 7 (Xinhua) — Chinese investors holding a stock for more than one year will be exempted from a 5-percent dividend tax from Tuesday, authorities said.
Those who have held a stock for one month or less will have to pay 20 percent of the dividend they receive as income tax when they sell the stock, the Ministry of Finance said Monday in a statement jointly released with the country’s taxation authority and the securities regulator.
People who have held a stock for over one month to one year will have to pay a 10 percent dividend tax when they sell the stock, the statement said.
This move is part of the government’s efforts to promote long-term investment following a stock market rout since mid-June.
The Shanghai Composite has plunged more than 40 percent from a peak seen on June 12. Enditem
China seeks to combine PV and agriculture as new industrial model
BEIJING, Sept. 6 (Xinhua) — China sought to create a new model for the combination of PV power generation and modern agriculture.
With the treat of anti-dumping auction from the United States and Europe potentially restricting PV enterprises’ sales channels, creating additional demand locally is now essential for PV firms.
Shi Dinghuan, President of Association of Renewable Energy of China, said that developing agricultural PV market has important implications for the country’s agricultural transformation in the long term, while, in the short term, PV agriculture would be the valid measure for PV industry to solve the industrial dilemma. Enditem
News Analysis: Fiscal stimulus to assume bigger growth-supportive role
BEIJING, Sept. 9 (Xinhua) — Although growth uncertainties abound home and abroad, China has plenty of policy options — especially on the fiscal front — to put the economy on track to deliver the around 7 percent annual target.
In its latest effort, the Ministry of Finance on Tuesday put forward multiple fiscal policies aimed at stabilizing growth, such as coordinating funds to accelerate project construction, activating idle money and widening tax breaks.
Other measures include guidance funds for small and emerging businesses, and promoting public-private-partnerships (PPP).
China is battling a property downturn, industrial overcapacity, sluggish demand and struggling exports, which dragged growth down to 7 percent for the first half (H1) of the year.
On top of that, fresh pressures from capital market volatility, currency devaluation in emerging markets, and slumping global commodity prices are further muddying growth prospects.
To achieve the full year growth target, the ministry said it will closely monitor the changing dynamics in the economy and respond with more effective and targeted fiscal policies to support growth, an area where analysts say hold vast potential to shore up growth.
Fiscal surplus for the January-July period was 383 billion (60.22 billion U.S. dollars), leaving plenty room for expansionary policies to increase the budget deficit to 2.3 percent of GDP for 2015, up from last year’s target of 2.1 percent.
Within annual budget, China could record a fiscal deficit of 2.1 trillion yuan for the August-December period, 200 billion yuan more than the same period last year, according to a recent report by China International Capital Corp. (CICC).
In addition, the government’s ongoing drive to activate unspent fiscal funds will make the expansionary fiscal policy more sustainable.
According to the finance ministry, some 13.1 billion yuan of idle fiscal funds have been retrieved and will be redistributed to growth-stabilizing sectors, and 243.8 billion yuan recovered to local budgets.
The more efficient use of idle fiscal funds is equivalent to increasing the government’s disposable funds beyond the budget without raising the government sector’s debt ratio, noted a CICC report.
Meanwhile, to dissolve debt risks of local governments, China has allowed them to replace existing debts with new bonds. The top legislature has approved the expansion of a debt swap program for local governments worth 3.2 trillion yuan in 2015.
On the back of such fiscal support, China has stepped up spending on key infrastructure such as railways in the western regions, renovation of substandard housing and underground utilities, which have all helped boost economic activity already.
“We think infrastructure-investment growth will likely be revived from July’s 16 percent year on year to 20 percent in the coming months, which in turn will provide, at the very least, a counterbalance against China’s ongoing property and heavy industry downturn,” noted a UBS report.
In an assuring message to the market, China’s top economic planner on Monday said the world’s second largest economy is stabilizing and turning for the better, citing stabilizing power use, rail freight and a warming property market as proof for the improvement.
“The economic operation is expected to maintain steady expansion to realize the full-year growth target,” the National Development and Reform Commission said. Enditem
BEIJING, Sept. 8 (Greenpost) — China might put off expanding the value-added tax (VAT) for business tax reform to financial and real estate industries, disclosed an authoritative source Tuesday.
Previously, Chinese regulators planned to expand the VAT to the three remaining sectors such as construction, property as well as finance and life services by end-2015, which also ends China’s 12th Five-Year Plan period.
However, Chinese finance minister Lou Jiwei’s earlier statement about the VAT reform on August 28 hints possible changes to the timetable. According to Lou, the country would placeconstruction, real estate, finance and life services industries under the VAT for business tax reform “at appropriate timing”, different from the past wording of finishing the reform before this yearend.
Gao Peiyong, dean of National Academy of Economic Strategy, China Academy of Social Science, expected that the all-around completion of the VAT for business tax reform might be delayed and it was hard to predict the precise timing of future expansion.
VAT for business tax pilots China’s tax reform and there are no big moves related to introduction of indirect taxes such as consumption tax, resource tax and environmental protection tax or direct taxes including property tax.
This gave rise to the difficulties for China to expand the VAT to more sectors as the country has reduced via VAT for business tax reform indirect taxes collection while encountered obstacles in increasing direct taxes.
Some other experts echoed the view, saying that it might be the complexity of the reform itself and the huge tax reduction through the reform which might cause sharp fiscal income shrinkage that have caused the delay of reform. Enditem
Source Xinhua
BEIJING, Sept. 8 (Xinhua) — China on Tuesday called on all countries to speed up negotiations to reach accord at the UN climate summit in Paris at the end of the year.
Foreign Ministry spokesperson Hong Lei told a daily press briefing that China appreciates France’s efforts so far for hosting the summit.
“China looks forward to French President Francois Hollande’s visit to China in November. Both sides are in close communication on the visit,” said Hong.
China is willing to work with all parties to help the summit reach a comprehensive and balanced accord on the principle of common but differentiated responsibilities, equity and respective capabilities, Hong said.
According to China’s intended nationally determined contributions (INDC), an action plan submitted to the secretariat of the UN framework convention on climate change in June, the world’s largest greenhouse gas emitter aims to cut carbon dioxide emissions per unit of GDP by at least 60 percent from the 2005 level by 2030.
The latest round of negotiations on climate change concluded Friday in Bonn, Germany with progress seen by developing countries as slow, putting pressures on negotiators who will come back next month to continue thrashing out a global climate deal.
There is only one official meeting left for negotiators before they head for Paris to clinch the new climate deal which will set rules for actions to prevent global warming above 2 degrees Celsius after 2020.
“As there is not much time left before the summit, all parties need to speed up the negotiation with utmost sincerity so as to build consensus to the greatest extend,” Hong said. Enditem
BEIJING, Sept. 8 (Xinhua) — China remains attractive to European companies, the European Union Chamber of Commerce in China (European Chamber) said, though rising wages and slower growth have led to worries about the emerging economy.
“Despite a challenging business environment, China still offers significant potential to European companies, including small and medium-sized enterprises,” said the chamber’s position paper released Tuesday.
Twenty-five percent of European firms have a research center in China, and 85 percent of those are likely to increase their presence in the near future, demonstrating China’s importance to the long-term strategies of European companies, the report said.
Facing downward pressure and pains from an economic overhaul, China’s economy expanded 7 percent in the first half of the year, the lowest reading since the 2008 global financial crisis.
The chamber said China should stick to bold reform pledges in a bid to tackle challenges from lower growth and ensure a successful rebalancing of the economy.
The European Chamber, founded in 2000, is an independent non-profit organization and has nearly 1,800 members in China. Enditem
BEIJING, Sept. 8 (Xinhua) — China’s new measure requiring commercial banks to pay risk deposit for forward foreign exchange sales aims to raise the cost of forex speculation and avoid excessive fluctuation, the central bank said Tuesday.
The People’s Bank of China (PBOC) announced last week that commercial banks will have to pay a 20 percent deposit for their forward forex sales to companies as of Oct. 15.
In forward exchange sales, commercial banks agree to sell a foreign currency to a company at a specific time in the future to help the company ward off risks from exchange rate fluctuations.
The new move is conducive to curbing excessive fluctuation on the forex market, preventing financial risks and promoting prudent operation of banks, the PBOC said in an online statement.
This measure was rolled out as forward exchange sales from commercial banks surged to three times as high as the monthly average of the first seven months in August. “It shows there were speculative transactions,” the PBOC said.
On Aug. 11, the central bank decided to let the market have a greater say in forming the yuan’s central parity rate against the U.S. dollar, leading to a depreciation of more than 4 percent last month.
The measure is not capital control as it does not restrict transaction volume, nor does it require approval for each single transaction, the PBOC said.
The deposit allows banks to make preparations for their possible losses in the future, curbing speculative transactions and raising the overall cost, the central bank said. Enditem
北欧绿色邮报网报道（记者陈雪霏）－－陕西南部凤翔古称雍，是周秦发祥地，是省级文化名城，古丝绸之路重要通道因凤鸣于岐，翔于雍而得名。有52万人口。
凤翔泥塑，木版年画，皮影，剪纸，草编等民间工艺品达百余种。有两个国家级非物质文化遗产，是中国民间文化艺术之乡。是东方艺术智慧的结晶。