Category Archives: News

Top Story: China to become world’s largest NEV market: report

BEIJING, Aug. 12 (Xinhua) — China’s new energy vehicle (NEV) market is stepping into the growth stage from the demonstration stage and will become the largest NEV market in the world, according to a report released by the country’s automobile guild and a leading global marketing research firm on Tuesday.

images (1)The report, which was released by the China Association of Automobile Manufacturers (CAAM) and Nielsen, attributes the NEV sales surge in the first half of 2015 to China’s policy supports.

It said Chinese government released and implemented more than ten NEV-related supportive policies and standards in the first six months of this year and the number of NEV demonstrative cities increased to 89.

However, only 53.9 percent respondents participated in a survey know about the NEV subsidy policies, and only Beijing, Shanghai and Shenzhen have higher proportion rates.

The report also said short run times, long charging times and too few maintenance stations are major barriers to China’s NEV industry development.

NEV sales in China in July surged 3.3-fold year on year to total 16,884 units, according to a CAAM press release on Tuesday. In the first half of 2015, NEV sales jumped 2.4-fold year on year. In a breakdown, the sales of pure electric cars and plug-in hybrid power cars hiked 2.9-fold and 1.9-fold year on year, respectively. Enditem

 

Switzerland begins public consultations on joining China-led AIIB

GENEVA, Aug. 12 (Greenpost) — Switzerland’s Federal Council launched on Wednesday public consultations to cement the country’s membership with China’s Asian Infrastructure Investment Bank (AIIB), a financial institution seeking to foster sustainable development in Asia.

images This follows the June signing of the Articles of Agreement by Swiss Federal Councillor Johann Schneider-Ammann in Beijing.

Switzerland is one of 57 prospective founding members, and has demonstrated great interest from the onset as it was amongst the first European countries to enter the AIIB’s founding process.

According to the Swiss State Secretariat for Economic Affairs (SECO), the confederation’s stake in the bank’s 100 billion U.S. dollars capital stock will be a total of 706,4 million U.S. dollars, to be paid in five annual instalments.

Switzerland’s voting power (0.8745 percent) will yield more clout than its financial input through the country’s basic and founding member votes.

SECO also indicated that the confederation will continue to actively take part in the bank’s foundation while vying for a seat on the AIIB’s Board of Directors.

Both Switzerland’s development policy and its foreign economic policy are in tune with AIIB plans to finance infrastructure projects in Asia by using its own resources and through public funds and private investment.

Particular emphasis will be placed on the areas of transport, energy and water supply, ports, the environment, urban development and logistics, information technologies and telecommunication, as well as rural and agricultural development.

SECO mentioned that Switzerland’s participation will also enhance economic relations with both China and Asia, with new opportunities expected to arise for Swiss businesses in the region.

With the deadline shortened by three weeks to accelerate the launching of the ratification process, the consultations are expected to run until Sept. 2. Enditem

Source Xinhua

Gothenburg wins the Logistics Municipality of the Year 2015

By Xuefei Chen Axelsson

Stockholm, Aug. 12(Greenpost)–Gothernburg, the second largest city in Sweden, has won the “Logistics Municipality of the Year” award for 2015.

Magnus JÄDERBERG, City of Gothenburg

Photo from http://smartset-project.eu/news/gothenburg-swedish-logistics-municipality-2015

The presentation was made at Logistik & Transport, the trade fair held at the Swedish Exhibition & Congress Centre in Gothenburg, according to a report from http://smartset-project.eu/news/gothenburg-swedish-logistics-municipality-2015. Four cities – Gothenburg, Malmo, Eskilstuna and Stockholm – made up the finalists and the prize was awarded by the trade journal, Intelligent Logistik.

One of the reasons why Gothenburg was awarded the prize was the scale of its innovative City Delivery (Stadsleveransen) concept, along with associated benefits to the local community and economy. City Delivery is a ground-breaking development found in only a few cities in Europe. It involves the operation of small, electric-powered vehicles in Gothenburg’s narrow, city-centre streets to make deliveries in a coordinated system of goods distribution.

The reasons for Gothenburg’s win

The city of Gothenburg has been working with the issue of goods transport for a long time in different forums.  A particular strength of the projects and processes here lies in the  extensive local transport and logistics networks and the way different groups of stakeholders work together. One example is Gothenburg’s freight network, where stakeholders from local government, business and academia collaborate to develop logistics in the city. The network was established in 2006, and remains one of the few of its kind in Europe.

The city has two full-time logistics specialists at  Gothenburg Urban Transport Administration.  They act as project leaders and participate in working groups and  various other  projects, which cover everything from city planning to operational solutions. In addition to these full-time employees, three senior consultants have been employed by Urban Transport Administration on different assignments, making the equivalent of an additional one and a half full-time posts.

Smart deliveries and urban development

The concept of Smart Deliveries was introduced in 2014. It is based on the long-term continuous development of  innovative, sustainable solutions for last-mile distribution. The cornerstones are shared loading, and the use of clean and energy-efficient vehicles.  The major operator is currently City Delivery, which co-ordinates the loading and final delivery of goods to businesses in the city centre. City Delivery is the product of a long collaborative relationship between carriers, property owners, shops and other stakeholders in the city centre. The main partner in this joint venture is Innerstaden Göteborg AB. In 2014, City Delivery made over 400 deliveries a day, and currently the business uses two electric-driven vehicles and two delivery bikes. But further development is under way,  both in extending the catchment area and  in increasing the number of parties involved.

Two other components of the Smart Deliveries package are Feskeleveransen (Fish deliveries)  and Lindholmsleveransen (the Lindholmen connection). They will be described more fully at a later stage.

Infrastructure

The whole network of streets in the heart of the city has changed  – from traditional streets with pavements, traffic lanes and street parking, to pedestrian areas and streets where traffic speeds are limited to walking pace. This work was carried out over a number of years and was completed in 2014.

These developments have helped create a more pleasant and attractive urban environment, greatly facilitated goods distribution and significantly reduced congestion, as  conventional loading zones are no longer required. New regulations governing, for example, pedestrian areas and  parking times,  have been crucial in the establishment of City Delivery.

Strategy

A new traffic strategy for the city of Gothenburg was adopted in 2014. One of its three main sections  were about creating functional, sustainable and effective solutions for the large amount of freight flowing into and out of the Gothenburg region and included the questions of  the location of freight terminals etc. A shared loading system and the use of clean vehicles are both important components in the creation of an attractive city environment and a sustainable urban transport system.

 

See www.scbr.se too.

– See more at: http://smartset-project.eu/news/gothenburg-swedish-logistics-municipality-2015#sthash.CLTllQ80.dpuf

China to make law to get tax from property

IN-DEPTH

China Focus: Property tax legislation moving forward, though slowly

BEIJING, Aug. 6 (Xinhua) — China’s long discussed and often stagnated property tax plan has once again come under the public spotlight following its inclusion in the national legislation plan this week.

The Standing Committee of the National People’s Congress (NPC), China’s legislature, included a property tax law in its legislation plan, signalling lawmakers’ determination to push ahead with the reform, although progress has been extremely slow.

“Conditions to enact these laws are ripe,” said the Standing Committee website. “The 12th NPC plans to review them within its tenure [which ends in early 2018].”

Prof. Shi Zhengwen of fiscal and financial law at the China University of Political Science and Law expects the law to be passed by the end of 2017.

But the passing of the law does not necessarily mean it will be put into effect right afterwards, analysts said, citing the timing and specific clauses in the law as possible obstacles for its implementation.

The coverage, tax rates and possible exemptions for houses under a certain size are among the most debated topics that need a serious balancing of interests, insiders involved in the legislation said.

China’s current housing tax mechanism mainly taxes development and sales of a property, without taxing home ownership or the market value of homes.

The low cost of holding property has led to speculation as investors tend to purchase multiple houses and hold them off the market in hopes of further appreciation, which has fuelled price rises in major cities already wrestling with tight supply.

As part of efforts to cooling the property market amid growing public complaints over runaway housing prices, China introduced a trial property tax in cities like Chongqing and Shanghai in 2010.

The Chongqing tax tryout focused on high-end housing while the Shanghai method mainly targeted ownership of multiple houses.

Due to limited rates ranging from 0.5 to 1.2 percent, however, the taxes were seen as too low to be effective in keeping local housing prices in check.

Rumors later spread that more cities, including Wuhan, Hangzhou and Xiangtan, were “technically ready” to join the pilots, but none made any concrete moves, which some analysts have blamed on a lack of legal backing.

In a first sign of the central leadership’s determination, a reform plan approved by the Third Plenary Session of the 18th Communist Party of China Central Committee in 2013 made clear that the legislation of taxes in the property sector would be accelerated.

As the country’s growth started to face increasing downward pressure in recent years and the property market began to cool, discussions on property tax have gradually died down as more attention has shifted to supporting growth.

Balancing the relationship between the property tax’s possible impact on the market and economic development will be central to the reform agenda, said Zhang Bin, a researcher at the Chinese Academy of Social Sciences.

“In the longer term, the aim of the property tax legislation is to increase taxes on home ownership to improve the price mechanism,” he said.

Zhang Dawei, chief analyst at Centaline Property, pointed out another factor that may hamper the implementation of the tax — property registration.

Given that property registration has yet to be finished, there will be a very low possibility of the property tax being implemented in the short term, which in turn will have limited impact on the market, Zhang said.

With a clear reform roadmap and transparent policies, the public could be more prepared for possible policy changes to help stabilize market expectations to avoid wild swings in prices, analysts said.

China’s real estate market took a downturn in 2014 due to weak demand and a surplus of unsold homes. The cooling has continued into 2015, with both sales and prices falling and investment slowing.

The persistent weakness in the sector, combined with shrinking exports due to uneven global economic recovery, dragged China’s growth to 7 percent in the first half of the year, prompting the government to introduce an array of policies such as easing mortgage rules and removing purchase restrictions to activate the market.

On the back of the policies, new home prices have continued to rise for the third consecutive month in July, with average prices in a sample of 100 cities rising 0.54 percent month on month to 10,685 yuan (1,747 U.S. dollars) per square meter, according to a survey conducted by the China Index Academy, an independent research institute. Enditem

China Exim Bank sees strong demand for 2-tranch bond sales Thu

   BEIJING, Aug. 6 (Greenpost) –The Export-Import Bank of China sold 2-tranche financial bonds on Thursday, with the yields for the 1-year product and the 10-year product at 2.5815 percent and 3.9169 percent, respectively.

Statistics from China Government Securities Depository Trust & Clearing Co. showed that yields on the 1-year and 10-year fixed interest rate policy bank bonds traded on the domestic interbank market stood at 2.7363 percent and 3.9725 percent respectively.

The two batches of bonds drew strong demand from institutional investors with the bid-to-cover ratio reaching 7.38 and 5.33, respectively.

Analysts attributed the rosy auction result to the country’s weak economy and the relaxed liquidity condition in the financial market. (Edited by Yang Yifan, yangyifan@xinhua.org)

Source Xinhua

China’s supreme court validates private loans for rightful purposes

   BEIJING, Aug. 6 (Greenpost) — Companies will be allowed to lend and receive private loans for the sake of production management, according to the Supreme People’s Court (SPC) Thursday.

Defining “private loans” as financial exchanges among individuals, legal entities and other organizations, the judicial explanation clarifies that private loan contracts signed by companies for production management should be recognized by courts as long as they do not violate the Contract Law, and such financial exchange activities should be protected.

Chinese courts closed more than 1 million private loan cases in 2014, a year-on-year increase of 19.9 percent, making private loans the second most common civil case after family.

“Allowing companies to conduct financing activities does not mean that they can do whatever they want for a loan,” said Du Wanhua, a senior SPC official, at a press conference Thursday, adding that the document aims to ensure loan security and justice in pace with finance market reform.

The document specifies conditions in which private loan contracts should be deemed invalid, including a borrower knowing the loan is granted by financial institutions to the lender who then lends it out as usury, as well as knowingly lending funds for criminal activities.

Courts should reject cases on private loans involved in criminal activities and pass evidence to police or judicial organs.

According to the SPC, a borrower is obligated to pay interest in its entirety if the annual interest rate is not above 24 percent. If the rate is above 36 percent, a borrower has the right to demand lenders return the part of interest accrued over the 36 percent threshold if it has already paid for.

“Interest based on an annual rate between 24 and 36 percent is not legally valid either, but if it has already been paid, courts will turn down the borrower’s request to demand it back,” Du said.

The rules will take effect on Sept. 1. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson

Dutch bank ING upgrades China business

   BEIJING, Aug. 6 (Greenpost) — Dutch bank ING announced Thursday that it has upgraded its Beijing representative office to a branch in order to expand business in China.

The Beijing branch will provide clients with foreign exchange settlement services, including foreign exchange deposits, trade financing, loans, export credit, as well as consulting and advisory services.

In compliance with local regulations, the branch will conduct all forms of foreign exchange businesses over the next few years, including drawing deposits, making loans, and foreign currency transactions, said Aart Jan den Hartog, country manager and head of commercial banking, Greater China.

He said that the Beijing branch will be complementary with its three other branches in Hong Kong, Shanghai, and Taipei. Enditem

Source Xinhua

瑞典外交大臣说要完全彻底地消除核武器

北欧绿色邮报网报道(记者陈雪霏)--瑞典外交大臣马约特. 瓦尔斯特罗姆6日就纪念广岛长崎遭受原子弹轰炸70周年发表声明说,要保证生灵不糟涂炭必须要完全消除所有核武器。

她在声明中说,由于原子弹的轰炸,成千上万人失去了生命,有的当场死亡,有的晚些时候,两座城市完全被炸毁了。当时使用的原子弹与现在的核武器威力还小一些。现在还有近16000个原子弹。

“我们永远不能忘记受害者和人类自己给自己造成的可怕的摧毁。但这还不够。今天,70年之后,我们必须行动起来确保人们不再受这样可怕后果的影响。唯一能保证做到这一点的办法就是完全消除所有的核武器。”

Swedish Minister for Foreign Affairs Margot Wallström on Hiroshima

Stockholm, Aug.11(Greenpost)–Swedish Minister for Foreign Affairs Margot Wallström said the only way to fully guarantee security is to totally eliminate all nuclear weapons in a statement issued on Aug.6.

The statement said hundreds of thousands of people paid with their lives due to the bombs, both immediately and much later, and both cities were completely destroyed. The bombs used were relatively weak in comparison with those currently held in the arsenals of nuclear powers. Almost 16 000 nuclear weapons remain.

” We must never forget the victims and the terrible destruction that the human race unleashed on itself. But that is not enough. Today, 70 years on, we must act to ensure that no one is ever again affected by such terrible consequences. The only way to fully guarantee this is to totally eliminate all nuclear weapons,” said Minister for Foreign Affairs Margot Wallström.

瑞典外交大臣瓦尔斯特罗姆说要完全彻底地消除核武器

北欧绿色邮报网报道(记者陈雪霏)--瑞典外交大臣马约特. 瓦尔斯特罗姆6日就纪念广岛长崎遭受原子弹轰炸70周年发表声明说,要保证生灵不糟涂炭必须要完全消除所有核武器。

她在声明中说,由于原子弹的轰炸,成千上万人失去了生命,有的当场死亡,有的晚些时候,两座城市完全被炸毁了。当时使用的原子弹与现在的核武器威力还小一些。现在还有近16000个原子弹。

“我们永远不能忘记受害者和人类自己给自己造成的可怕的摧毁。但这还不够。今天,70年之后,我们必须行动起来确保人们不再受这样可怕后果的影响。唯一能保证做到这一点的办法就是完全消除所有的核武器。”

Swedish PM Löfven on the 70th anniversary of the atomic bombings of Hiroshima and Nagasaki

Stockholm, Aug. 11(Greenpost)–Swedish Prime Minister Stefan Löfven made a statement on the 70th anniversary of the atomic bombing of Hiroshima and Nagasaki on August 6.

“There was a false belief that these weapons would make us safe. This belief still exists. The threat of nuclear weapons around the world remains. This is why the fight for disarmament and non-proliferation of these diabolical weapons must be intensified. Security is created through people feeling safe, not scared. It relies on cooperation for our common survival, not threats of mutual destruction,” the statement said.

“This anniversary is an occasion to pause and reflect. We are remembering so that we can continue to work tirelessly for a world free of nuclear weapons. We honour the victims by doing our utmost to ensure that the suffering that came in the wake of the atomic bomb is never repeated. We must never forget Hiroshima and Nagasaki.” the statement ended.

瑞典首相勒夫文为纪念轰炸广岛和长崎70周年发表声明

 

北欧绿色邮报报道(记者陈雪霏)——瑞典首相斯蒂芬勒夫文8月6日就原子弹轰炸广岛和长崎70周年发表声明说,现在是轰炸广岛70年的纪念日人类那时面临一种新的大规模杀伤性武器消除了两个城市,炸死了成千上万人,伤残了更多。

 

声明说,以为这些武器能使我们安全是一种错误的信仰。这种信仰依然存在。全世界核武器的威胁依然存在。这就是为什么人们必须加强裁军和核不扩撒的斗争。安全是通过人们感觉安全而实现的,而不是通过害怕实现的。它依赖于我们为了共同生存的合作,而不是互相打击的威胁。

 

这个周年是人们停下来反思的时刻。我们将铭记这个时刻以便我们能继续为一个无核世界而不懈奋斗。我们对死难者纪念是为了保证核武器造成的苦难永远不要重演。我们永远不能忘记广岛和长崎。

瑞典少林功夫协会邢伟涛的功夫表演令人叫绝

北欧绿色邮报报道(记者陈雪霏)--瑞典少林功夫协会邢伟涛老师9日在纪念反法西斯和抗日战争胜利七十周年活动中表演中国少林功夫,令在场的观众瞠目结舌,热烈鼓掌,欢呼雀跃!

北欧绿色邮报记者陈雪霏录制。2015年8月9日在瑞典首都斯德哥尔摩的赛格广场。

今日头条-瑞典华人华侨举办反法西斯和抗日战争胜利70周年纪念活动

北欧绿色邮报报道(记者陈雪霏)——8月9日,斯德哥尔摩市中心蓝天白云,晴空万里。在著名的赛格广场纪念反法西斯和抗日战争胜利70周年活动隆重举行。

DSC_1011

瑞典华人总会执行主席叶沛群在开幕式上说,今天在这里举行反法西斯和抗日战争胜利70周年纪念活动。

“这是人类正义战胜邪恶,光明战胜黑暗,进步战胜反动的伟大胜利。全体中国人民应该记住这个日子,全世界爱好和平的人也应该记住这个日子。”

他指出,这场战争波及60多个国家,两亿多人。在东方战场上,中国最先开始抵抗,为抗日牺牲了两千多万人。

“今天,我们纪念这场伟大的胜利,就是要记住那些在反法西斯战争中牺牲的人们,记住那些牺牲的英雄和世界上爱好和平的英雄。为了世界和平要永远记住这一历史。”叶沛群说。

DSC_0979

瑞中友好协会会长,人民之声会长白亨利先生在演讲中说,中国进行了八年抗战,为世界反法西斯战争的胜利做出了应有的贡献。

他尤其指出了南京大屠杀中日本对中国灭绝人性的大屠杀,6个星期内,日本军国主义者屠杀了4万中国人。历史不能忘记!

他呼吁人们要铭记历史,热爱和平,永远反对战争。

DSC_1013

中国书画院和水墨画院长著名画家满维起致辞。

DSC_1017民建中央画院副院长陆大有(右)先生致词。

DSC_1022

歌唱家李文演唱《我的祖国,妈妈》,马尔默文化艺术协会舞蹈队伴舞。

DSC_1067

奥萨贞子表演古琴。

随后是文艺演出,有歌曲,舞蹈,功夫,京剧和儿童钢琴表演等。

瑞典少林功夫协会的邢伟涛老师表演中国功夫!

DSC_1151

演出最后所有演员,主持人和总策划双焱一起唱世界和平之歌《手拉手》。匡富洋用英文领唱。京剧艺术家吴江燕和她的徒弟一起表演京剧片段《白蛇传》里的《水漫金山》。

DSC_1073

吕常林的茶艺表演。

DSC_0981本次纪念活动还包括抗日战争图片展,茶艺表演,京剧脸谱描画,和陆大有先生的绘画展示。

photo (33)

DSC_1027

陈育明大使和夫人白晓梅参赞观看抗日战争图片展。参观期间,白参连连说,你们辛苦了。

DSC_0993中国驻瑞典大使陈育明先生,白晓梅参赞和领事部主任郭延航也出席了纪念活动。

本次活动由瑞典中国和平统一促进会和瑞典华人总会主办,由中欧国际文化教育中心,瑞典青田同乡会,瑞典华人文化交流联合会,中瑞友好协会,瑞典华人妇女联合会,瑞典两湖同乡会,马尔默文化艺术协会和中华医学会等华人团体协办的。本次活动也受到中国驻瑞典大使馆的支持。

中国画家作品展示会在瑞典东亚博物馆举行

北欧绿色邮报报道(记者陈雪霏)--由中国水墨画院院长满维起先生率领的中国画家代表团9日在斯德哥尔摩东方博物馆举行了水墨丹青情,共筑中国梦的三位画家作品的展示与讲解。

DSC_0924满维起院长首先致开幕词。他说,代表团来访的目的就是要在中瑞建交65周年和瑞典华人华侨举行世界反法西斯战胜胜利70周年纪念活动之际为瑞典华人华侨带来具有中国艺术元素的中国水墨画展示与讲解,希望大家能借此机会更加了解中国的水墨画和中国传统文化。

DSC_0929

瑞京华人协会会长柳少惠致开幕词。陈雪霏拍摄

photo (36)本图片转自安娜微信photo (35) 本图片转自巧珍微信。

满维起教授对三位画家的画进行了介绍。首先,他介绍了他自己的两幅画,一幅是关于河南玉溪黄土高坡的一幅画,黄色调,反映的是那里贫困的生活,那里还有窑洞呢。他说,水墨画就是水和墨,是写意。他的另一幅画是关于贵州黔东南地区的景观,整幅画卷都是绿色色调。因为那里一年四季都是绿色的,四季如春,非常漂亮。

老画家马海方是中国美术家协会会员,荣宝斋签约画家,他带来的画儿是形象反映老北京人的生活的。有一幅画题目是《皇城根儿下》反映退休老人下棋的生活场面。

山东画家陈全胜的作品主要是描写山水的,刚劲有力,雄浑大气。线条清晰,山水相连,山有多高,水有多长。

满教授介绍完画家作品以后,三位老画家挥毫题字。

photo (37)

DSC_0963陈全胜先生为北欧绿色邮报题字。

展示会中间,著名舞蹈家乌日娜表演了蒙古族舞蹈《鸿雁》。马尔默文化协会舞蹈队表演了红绸舞。

东亚博物馆负责人安卡尔松对大家的到来表示欢迎,并邀请大家参观东方博物馆关于中国的古玩展览。

本次活动由中国水墨画院主办,瑞典华人工商联合总会,中欧国际文化教育中心和东方博物馆协办。

News Analysis: China’s economy stabilizing against headwinds

 BEIJING, July 29 (Xinhua) — With industrial profits sliding, factory activity retreating and the stock market on wild swings, China’s economic future seems blurry.

However, positive changes in the fundamentals can not be ignored and are helping the economy embark on a path of stabilizing, analysts say.

China’s economy expanded 7 percent in the second quarter of 2015, the same as in the first quarter.

Recent statistics show profits at major Chinese industrial firms dropped in June and an indicator on manufacturing activities fell in July to the lowest level since last April.

Wild ups and downs in the country’s stock market add to uncertainties. The benchmark Shanghai Composite Index recorded the sharpest daily drop since Feb. 27, 2007, an 8.48 percent plunge, on Monday. It snapped back with a 3.44 percent rebound on Wednesday.

Despite those unnerving figures, an official with the country’s top economic planner said the fundamentals of China’s economy are stabilizing and improving.

Industrial output has continued to recover, new types of businesses have flourished, and the service sector has become an increasing contributor to the national growth, said Li Yunqing, an official at economic operation department of the National Development and Reform Commission.

Surpassing market anticipation, China’s industrial output climbed by 6.8 percent from a year ago for a third straight month of increases in June.

“If we look at the structure of the economy and the quality of growth, the results are more encouraging,” Li said.

For example, six major energy-intensive industries, such as steel and building materials, slowed down significantly in the first half, actually mitigating some growth of emerging industries, he said.

High-tech industries’ output rose 10.5 percent year on year in the first half, with industrial robots surging 130 percent and railway locomotives jumping 91 percent.

While fixed-asset investment continued to soften, its structure is shifting to consumption-linked and emerging industries.

Six major energy-intensive industries recorded a total investment growth of 7.5 percent year on year in the first half, 2.2 percentage points below the overall investment in manufacturing.

Meanwhile, industries like computer and telecommunications equipment, information and software, transport, postal service, cultural and sports goods all posted an investment growth above 20 percent year on year.

Property investment, the old pillar of investment and growth, is also expected to recover in the second half, with house sales warming up. Fewer cities saw new home prices drop for the fourth consecutive month in June.

The pressure on home prices will continue to ease gradually through 2015, global rating agency Moody’s said in a research note.

RECOVERY EXPECTED, PRESSURE REMAINS

The trend that China’s economy is stabilizing has become more obvious, Jia Kang, a renowned fiscal science researcher at the Ministry of Finance, and his fellow researchers wrote in an article published Wednesday.

As interest rates come down and monetary supply increases, Chinese companies will see the cost of investment brought down effectively and the nation’s fixed-asset investment growth will hopefully rebound in the fourth quarter, according to the article.

Retail growth has basically touched the bottom and will keep stable throughout the year, Jia predicted.

Foreign trade, another growth engine, is likely to return to growth in the second half as global demand improves and de-stocking by companies winds down, he wrote.

China’s economy grew 7 percent year on year in the second quarter of this year, the same as in the first quarter.

Zhu Haibin, chief economist of J.P. Morgan China, attributed growth in the second quarter to the service sector’s performance. Consumption accounted for 60 percent of economic growth in the first half, 5.7 percentage points higher than a year ago and almost double the contribution from investment.

“The economic re-balancing from investment to consumption is really happening,” Zhu said in a research note, predicting the economy will continue to pick up in the third quarter.

However, the degree and duration of recovery is challenged by several factors, including hovering industrial overcapacity, long-standing fiscal restraints, and the latest stock market turmoil, according to Zhu.

Stock price corrections may drag down growth in the financial sector and affect some rapidly expanding industries that have benefited from previous bullish runs, Zhu said. Enditem

China Focus: China’s growing interest in fitness shapes up industry

BEIJING, July 28 (Xinhua) — As grannies “cut a rug” square dancing in public parks, young Chinese prefer breaking a sweat in the gym or with online workouts to burn calories.

Zhang Jianming, a 29-year-old research fellow at East China’s Suzhou Industrial Park, is active at the gym. He works out five to six days a week, and focuses on hitting different body parts each day. For him, typical training programs include an hour of lifting or bodyweight exercises, and half an hour of cardio session.`   After beginning the workout regimen in September, 2013, Zhang’s body fat percentage dropped to 17 percent from 23 percent. He is noticeably bulkier, and feels more confident.

Fitness fanatics like Zhang have been springing up in China over the past two years. An industry report shows that the total number of gym attendees in 70 major Chinese cities has increased by four to five million each year since 2011.

Behind the exercise trend is growing enthusiasm for fitness and health. As wealth accumulates, the country’s increasingly sophisticated middle class increasingly have the urge to disengage from work, relax and move around.

Jogging has taken off in big cities, despite the notorious smog problem. More urbanites wear fitness tracking bracelets or other wearables as a manifesto for healthier lifestyle. Celebrities also actively jump on the fitness bandwagon. They post gym selfies to show off their abs and more importantly, win fans.

Public awareness of fitness generally begins when a nation’s GDP per capita hits 5,000 U.S. dollars. Should it surpass 8,000 U.S. dollars, the fitness industry will become a pillar in the national economy, said Liu Qing, deputy secretary-general at Chinese Association of Sport Industry.

China’s GDP per capita exceeded 5,000 U.S. dollars in 2011 and reached 7,575 U.S. dollars last year, according to official data.

The fitness fanaticism sweeping the world’s second largest economy coincides with the growth of mobile Internet and the boom of social media. Unlike the older generation of gymrats, younger fitness enthusiasts like Zhang are more apt to explore online resources to work out smarter.

Under his WeChat account, China’s biggest social messaging service, Zhang follows a dozen of fitness blogs. Everyday, he will sift through the news feeds to learn about new workout programs or dietary instructions.

Wang Yin, 30, is one of Zhang’s favorite bloggers. In September, 2013, almost the same time when Zhang begun hitting the gym, Wang, a financial professional-turned-fitness guru, started blogging with his wife on WeChat and microblog Weibo.

“I felt like a new man after finishing a two-month workout regimen,” recalled Wang. He was also startled to find how little those who crave a thinner life know about health and fitness.

“Most of them, especially the girls, will hit the dead end circle of ‘diet, give up, get fat’. They simply don’t know how to chisel away body fat through exercise,” he said.

The Shanghai-native then decided to share health, nutrition and fitness knowledge he has learnt with others. His blogs became an instant success. He has garnered about one million followers on Weibo, and nearly 400,000 on WeChat over the past two years.

As the Chinese government has been looking to entrepreneurship and innovation among the bright spots in a slowing economy, Wang also felt he has found a sweet spot to cash in on the booming demand for keeping fit.

He resigned from his post at a private equity firm to launch a startup company called Fit-start in September, 2014, which happened to coincide with the one year anniversary of his blogs.

“The market has immense potential,” said Wang, with over five years of investment experience.

On June 19 this year, Fit-start introduced apps offering custom online workout and dietary plans on the iOS and Android app stores. Wang said there have already been more than 100,000 downloads by now.

However, Wang’s rivals have also been looming large. RJFitTime, another influential blog operated by two twenty-somethings, has attracted two million followers combined across all social media platforms. RJFitTime launched apps earlier this year, streaming a variety of exercise programs to its subscribers.

An estimated 50 health and fitness apps came online in the first half of this year. Most of them eye the same niche market as Fit-start and RJFitTime – the beginners.

“When we start our business, the fitness industry was still a ‘blue ocean’, where the market space is vastly uncontested,’ Wang said, “but now, it’s fairly crowded.”

For users like Zhang, the swarm of fitness apps allows them to get a lot of services for nothing. Zhang said he will not consider trying paid options of those apps, because he thought the free content is already enough.

That mentality is certainly not pleasing to Wang, who has been working hard to bind users with online paid trainers. But the former investment banker is still optimistic about the future of China’s fitness market.

“After all, this is a budding industry. The market is huge, and there is no dominant player at the moment, which means everything is possible, ” Wang said. Enditem