Home    About Yingkou     Welcome to YK    Government      Investment Guide    Business     Education & Culture


-About Yingkou
-Welcome to Yingkou
-Investment Guide
-Living in Yingkou
-Travel in Yingkou
-Yingkou Port
-Mother's Day
-Sister Cities
-Friendly Cooperative Relationship Cities


point.gif (302 bytes) Yingkou port plans to invest 2.5 billion Yuan by the end of 2020 in some other countries
At present, Yingkou Port is planning to transform from terminal operator to line integrator, through investment in logistics nodes along the route, participation in management, realization of key node control, and enhancement of the overall operation effect and full service capability of China- Europe block train ferry. By end of 2020, the total amount of overseas investment had reached 2.5 billion Yuan.

point.gif (302 bytes) Yingkou city ranked first in processing jellyfish in Liaoning province last year
Yingkou city has actively promoted the deep processing industry of jellyfish, and the jellyfish brand has achieved remarkable results. By the end of last year, the processing volume of jellyfish in our city had reached 90,000 tons, accounting for about 80% of the total export of processed jellyfish throughout the whole province. Processing output in the province ranked first.
(March 19,2018)

point.gif (302 bytes) China unveils major cabinet reshuffle

BEIJING ¡ª China unveiled a major cabinet reshuffle on March 13, to make the government better-structured, more efficient, and service-oriented.

The institutional reform plan of the State Council was submitted to the ongoing first session of the 13th National People¡¯s Congress for deliberations.

State Councilor Wang Yong briefed the lawmakers on the plan.

After merging, restructuring, creating and dissolving, there will be 26 ministries and commissions. Among the new entities are ministries for natural resources, veterans affairs, and emergency management.

There will also be new administrations under the State Council, such as an international development cooperation agency, a state immigration administration, and a banking and insurance regulatory commission.

Compared with the current cabinet setup, the number of ministerial-level entities is reduced by eight and that of vice-ministerial-level entities by seven.

Wang said the reform, focusing on institutional restructuring in key areas, would strengthen the government¡¯s functions on economic management, market supervision, social management, public service, and ecological and environmental protection.

¡°It focuses on the needs of development and meets the people¡¯s expectations,¡± Wang said, adding that the restructuring formed part of a broader plan by the Communist Party of China to deepen the reform of the Party and state institutions.

He said the cabinet reshuffle dealt with the institutional obstacles to make the market play a decisive role in resource allocation. The reshuffle will also help China build a modern economy with high quality growth.

In a big change, a banking and insurance regulatory commission will be formed to replace the China Banking Regulatory Commission and the China Insurance Regulatory Commission.

The move is aimed at solving existing problems such as unclear responsibilities, cross-regulation and absence of supervision, Wang said.

The new body will enhance oversight of both banking and insurance industries and be more effective to forestall risks in the financial sector.

The international development cooperation agency, to be formed by merging parts of the functions of the Ministry of Foreign Affairs and the Ministry of Commerce, will ¡°give full play to foreign aid as a key means of major-country diplomacy,¡± Wang said.

A state immigration administration is to be set up under the Ministry of Public Security to formulate and enforce immigration rules, as ¡°the number of foreigners working and living in China has been increasing, raising new requirements on immigration administration and services,¡± according to Wang.

People¡¯s welfare will be better protected, with the establishment of two new ministerial departments devoted to healthcare and veterans affairs.

The ministry of veterans affairs will protect the rights and interests of military personnel and their families, improve the service and management system of demobilized military personnel, and make military service an occupation that enjoys public respect.

If passed, the cabinet reshuffle will be the eighth such move in more than three decades.

Cutting bureaucracy has been a common pursuit of governments around the world. Beginning 1982, amid its reform and opening-up push, China began downsizing the central government about every five years.

Ma Liang, a public administration professor of Renmin University of China, said cabinet reshuffles throughout the years aimed to develop a sound, service-oriented administration able to satisfy the people¡¯s needs.
(March 14,2018)  from:english.gov.cn

point.gif (302 bytes)Two indicators of Xianrendao Economic Development Zone ranked first in Yingkou¡¯s key parks
A few days ago, Xianrendao Economic Development Zone held a general meeting to carry out the spirit of "optimizing the Business Environment and promoting Project Construction" in our city.
In 2017, the work of Xianrendao Economic Development Zone was progressing smoothly, showing a good development trend. There were 13 projects with more than 10 million Yuan under construction, of which 11 were more than 100 million Yuan. The total amount of export was 778 million Yuan, the year-on-year increase is of 61.2%, these show that the two indicators are ranked the first in the city's key parks. Become the strategic platform and important economic growth pole of our city carrying major projects. (

point.gif (302 bytes) Export of Xianrendao Energy and Chemical Industry District rose sharply last year
Last year, Xianrendao energy and chemical industry district's foreign trade export reached a new high of 778 million Yuan accumulated, exceeding the annual target of 530 million Yuan, and maintaining a rapid growth rate of 61.7% over the same period last year.

point.gif (302 bytes) Highlights of Premier¡¯s Government Work Report

Following are the highlights of a government work report distributed to media ahead of the annual session of the National People¡¯s Congress (NPC) on the morning of March 5.
¡ª China¡¯ s gross domestic product (GDP) has risen from 54 trillion to 82.7 trillion yuan, registering average annual growth of 7.1 percent.
¡ª More than 68 million people have been lifted out of poverty.
¡ª Tourist departures have grown from 83 million to over 130 million.
¡ª Both energy and water consumption per unit of GDP have fallen more than 20 percent, the release of major pollutants has been consistently declining, and the number of days of heavy air pollution in key cities has fallen 50 percent.
¡ª Personal income has increased by an annual average of 7.4 percent, outpacing economic growth and creating the world¡¯s largest middle-income group.
¡ª More than 66 million new urban jobs have been added, and the country, with its population of over 1.3 billion, has achieved relatively full employment.

¡ª GDP growth of around 6.5 percent
¡ª CPI increase of around 3 percent
¡ª Over 11 million new urban jobs, the surveyed urban unemployment rate within 5.5 percent, and the registered urban jobless rate within 4.5 percent
¡ª Basic parity in personal income growth and economic growth
¡ª A steady rise in import and export volumes, and a basic equilibrium in the balance of payments
¡ª A drop of at least 3 percent in energy consumption per unit of GDP, and continued reductions in the release of major pollutants
¡ª Substantive progress in supply-side structural reform, basically stable macro leverage, and systematic and effective prevention and control of risk

¡ª This year¡¯s deficit as a percentage of GDP is projected to be 2.6 percent, 0.4 percentage point lower than last year.
¡ª Cut steel production capacity by around 30 million metric tons and coal production capacity by approximately 150 million metric tons.
¡ª Reduce taxes on businesses and individuals by more than 800 billion yuan.
¡ª This year will see 732 billion yuan invested in railway construction and around 1.8 trillion yuan invested in highway and waterway projects; the scale of investment in ongoing water conservancy projects will reach 1 trillion yuan.
¡ª The general manufacturing sector will be completely opened up, and access to sectors like telecommunications, medical services, education, elderly care, and new-energy vehicles will be expanded.
¡ª Actively expand imports, host the first China International Import Expo, and lower import tariffs on automobiles, some everyday consumer goods, and so on.
¡ª Promote the peaceful growth of cross-Strait relations on the basis of the 1992 Consensus, and advance China¡¯s peaceful reunification.
¡ª Promote coordination and cooperation among major countries, deepen friendships and achieve common development with our neighbors, and enhance unity and cooperation with other developing countries.
¡ª Ensure the success of the annual conference of the Boao Forum for Asia, the Shanghai Cooperation Organization Summit, the Summit of the Forum on China-Africa Cooperation.
(March.07,2018)  from:english.gov.cn

point.gif (302 bytes)China moves on trial reform of IPR cases
BEIJING ¡ª The Chinese leadership on Feb 27 unveiled guidelines for improving the trial procedures of intellectual property rights (IPR) cases.

Reforms are needed to improve top-level dealing with issues concerning the long-term development of the IPR case trials, and to adapt to changes in the international environment; judicial protection of IPR cases must be improved, according to a document released by the General Office of the Communist Party of China (CPC) Central Committee and the General Office of the State Council.

¡°An open mind is in need as reform must be made based on China¡¯s national conditions, while respecting international rules and learning from successful experiences of global cases,¡± the document said.

The reform targets higher efficiency, stronger IPR protection and better IPR case trial credibility. IPR infringement must be effectively curbed.

The detailed measures include building a compensation system for IPR infringement, stepping up creation of IPR courts and intensifying construction of IPR trial talent.

In 2016, Chinese courts handled 152,072 IPR cases, up 16.8 percent year on year. Over 3,700 people were arrested and 7,000 prosecuted, according to an IPR protection white paper.
(March.02,2018)  from:english.gov.cn

point.gif (302 bytes)Yingkou Port Cross-Border E- Commerce Direct Mail launched
According to news on February 17th, after the first batch of 52 cross-border e-commerce direct mail packages transferred by sea through Yingkou port were scanned in turn, customs were cleared successively through the automated inspection and sorting lines. Yingkou port cross-border e-commerce business "Direct Mail by Sea" was officially launched. Which is to be became the second seaborne direct mail port in Northeast China.

point.gif (302 bytes) Spending Smart: Millennials to fuel China¡¯s sharing economy

Young people in their 20s and 30s are rapidly becoming the backbone of China¡¯s widening spending power. Known as millennials, they are more open to new ideas and business models. They are also expected to help shape the future of the sharing economy.

Chinese millennials were born when China started to have more access to global markets. They are more eager to spend on experiences than on possessions. They share everything from bikes and homes to clothes and power banks.

¡°This new generation of consumers looks for information on the internet rather than in the library, and the information comes to them. The sharing economy meets their needs and it¡¯s very easy and very fast,¡± said venture capitalist Maggie Tan.

Besides bike sharing and apartment rentals, fashion rentals have emerged because of the booming sharing economy. Y Closet is a Beijing-based rental platform that doles out women¡¯s apparel and accessories. The company targets stylish young people with big dreams and small budgets.

¡°These young millennials do not want to follow the crowd. They want to have their own styles. But they¡¯re usually limited with their incomes,¡± said Doris Ke, marketing director of Y Closet. ¡°They¡¯re actually our core customers.¡±

Y Closet completed a 50-million-dollar fundraising round last year that was led by Alibaba, Softbank and Sequoia Capital. Now, the company teamed up with Taobao, China¡¯s largest e-commerce platform.

The sharing economy is booming in China. When a good idea emerges, attention will be gathered and capital will rush in. But many players could not even survive their very first year.

¡°Last year, I looked at over 200 sharing economy projects. But to be honest, over 99 percent of them do not exist anymore,¡± said Tan.

How to keep a new idea in sharing economy from this curse of a short life span? Tan suggested two key elements for success: Technology and real demand.

Millennials¡¯ flexible, minimalist and sustainable living styles are expected to help fuel China¡¯s sharing economy in the coming years, while block chain and the internet of things is driving the sector in terms of technology. But analysts say that 2018 will still be a crossroad for the sharing economy because the new technologies still need to mature.
(Feb.22,2018) from:english.gov.cn

point.gif (302 bytes) State Council promotes separation of business operation permits, licenses in Shanghai

The reform of separating business operation permits from business licenses is to be further promoted in Shanghai Pudong New Area, according to an approval released by the State Council.

A specific work plan was also released, covering the reform in 10 areas: business system, medicine and medical instruments, investment and construction engineering, transportation, permission management of pawnshops, agriculture, medical and healthcare, quality supervision, culture and tourism, and supervision and service.

The work plan asks related pilot work leaders to assume responsibility, and coordinate and solve any problems. Education and training should be enhanced for related staff members. Policy introduction is necessary as it can help people and enterprises get better accustomed to the changes. Unclear work division should be avoided. Supervision and evaluation of the pilot work should be carried out. Successful results should be promoted and duplicated.

The work plan is aimed at effectively defining the functions of business operation permits and business licenses, exploring new technology, new industry, new modes and new products, and promoting an inclusive and deliberate supervision system.

It will also encourage system innovation and government function transformation, and break the systematic barriers restricting enterprises and individuals. Fair market competition is promoted for a better business environment, and help the development of new driving forces. Market vitality and social creativity are to be fully stimulated to spur economy development.
(Feb.12,2018)  from:english.gov.cn

point.gif (302 bytes) China¡¯s rural transportation network to grow stronger
Winding roads, inaccessible spots and muddy fields have long been the most impressive memories for us traveling in China¡¯s remote and rural areas. But that was before the 18th Communist Party of China (CPC) National Congress, held in Beijing in 2012. If you look at the picture of those places now, you can see a difference and changes could be seen everyday.

Great breakthroughs have been made in transportation reform since the 18th CPC National Congress. The Ministry of Transport says it regards the construction of ¡°Sihao Rural Roads¡± as an important vehicle for completing the building of a moderately prosperous society.

Transport Minister Li Xiaopeng reported that at present, the network of rural roads in the country has reached 3.96 million kilometers. He noted that over 99 percent of townships and 98 percent of established villages were built with asphalt roads and cement roads, and equipped with buses. Poorly constructed roads are a thing of the past. Instead, paved roads and bus services are part of the real lives of 600 million farmers in China.

In 2017, the ministry also achieved remarkable progress in reducing logistics costs by upgrading transport infrastructure, improving transport services, deepening the transport sector¡¯s reform and strengthening new growth drivers for transport development.

Remarkable as China¡¯s achievements in transportation, there¡¯s still much room for improvements in terms of infrastructure construction, services and governance.

Li told the press that even though China is a major transport country, it is only big, not strong. There¡¯s still a long way to go before becoming a powerful transport country. The infrastructure is not good enough, our services cannot fully meet the needs of the people, our logistics are not yet developed, and the costs in logistics are still relatively high.

Making China a stronger country in terms of transportation is a new goal for the government. Li said that the authorities will try hard to build a modern transportation system. ¡°We will build this system with open integration, sharing governance, green wisdom, civilization and trustworthiness.¡±

The government plans to achieve the basic goal of becoming a ¡°strong transport country¡± from 2020 to 2035, and to comprehensively achieve that goal from 2036.
(Feb.11,2018) from:english.gov.cn

point.gif (302 bytes) Results of Q4 govt website inspection issued
The State Council released a circular on the results of a nationwide inspection of government websites conducted in the fourth quarter of 2017.
As of Dec 1, 24,820 government websites were in operation, including 1,961 affiliated with State Council departments and 32 provincial-level government portal websites.
The State Council¡¯s general office conducted a random inspection of 460 websites, of which 95 percent were qualified. It¡¯s worth noting that the websites of Beijing, Tianjin, Hainan, and the Xinjiang Production and Construction Corps were rated as 100 percent qualified over four consecutive quarters.
All provincial regions and 71 departments of the State Council selected 12,336 websites under their respective administrations, which accounted for 50 percent of government websites with a 96 percent total qualification rate.
Valid messages via platforms for people to mention errors on government websites totaled 14,208 in the fourth quarter, among which 99 percent were answered. For 25 websites selected from the Inner Mongolia autonomous region, Shanghai, Hunan, the Ministry of Public Security and the Ministry of Environmental Protection, the figure reached 100 percent.
Also during the same period, 116 officials were punished or received warnings for running unqualified websites.
In 2017, all regions and departments had inspected 43,139 government websites at all levels. A total of 21,513 websites with poor maintenance were integrated or migrated and 625 officials were held accountable for the substandard websites.
Some problems surfaced in the process, such as unregulated domain names and logos, lack of overall rectification measures, poor interactions with netizens and insufficient security control.
Based on the results of the inspection, the circular urged more efforts to supervise government websites and to provide better government services online.
Regions and departments at all levels should enhance regular website supervision, operationalize correction measures, better interact with netizens to address their concerns, and improve security mechanisms to ensure government websites are safe and reliable.
(Feb. 8,2018 ) from:english.gov.cn

point.gif (302 bytes)  Yingkou Municipal Government and KPMG sign Framework Agreement on Strategic Cooperation
Yu Gongbin , mayor of Yignkou municipal government, met with Zou Jun, chief partner of KPMG Enterprise Consulting (China) Co., Ltd., before signing the contract.
Yesterday, Yingkou municipal government and KPMG Enterprise Consulting (China) Co., Ltd. signed a strategic cooperation framework agreement. The two sides will have long-term cooperation in the field of business consulting services. Before signing the contract, Mayor Yu Gongbin met with Zou Jun, chief partner of KPMG Enterprise Consulting (China) Co., Ltd., before signing the contract.

point.gif (302 bytes) Promoting the Construction of Comprehensive bonded area in an All-round way
Yingkou held a Party-government Meeting, had a special research on the construction and operation of Yingkou Comprehensive Bonded Zone. Zhao Changfu and Yu Gongbin attended the meeting and delivered speeches.

point.gif (302 bytes) Premier: Government Work Report should stand for social consensus
¡°The government, whether in its policymaking or implementation, must stand for social consensus and try its best to enhance reasonableness and democracy in its policies,¡± Premier Li Keqiang said Jan 24 at a symposium.
The symposium was held to solicit advice from leaders of democratic parties and the All-China Federation of Industry and Commerce, as well as those without party affiliation.
He acknowledged that the symposium is a significant practice of socialist deliberative democracy and a step for the State Council to be subject to democratic supervision.
After the guests gave their opinions and advice, the Premier said, ¡°Your advice is very important. It can represent, to a great extent, social consensus and the people¡¯s will. The Government Work Report should include your feedback as much as possible.¡±
He also appreciated the support and help from the three groups. ¡°Over the past five years, you have conducted research on some major issues concerning socioeconomic development and made many insightful suggestions. I and other members of the State Council have read them all and forwarded them to relevant departments.¡±
Noting that this year marks the 40th anniversary of China¡¯s reform and opening-up policy, Premier Li said that making new accomplishments would be one of the best ways to honor the basic State policy.
The Premier urged that more efforts should be made to promote high-quality development and establish a modern economic system. Practical measures should be taken to deepen reform and opening-up, enhance creativity and competitiveness, and ensure better lives and well-being for the people.
He stressed that the Government Work Report should ensure that it reflects the best common desires of the people.
Premier Li encouraged the three groups to continue playing an active role in political consultation and democratic oversight, to give their consistent support and help the government meet the social development and economic growth targets. (Jan.29,2018)

point.gif (302 bytes)  Made in China 2025 roadmap updated
China aims to become the world¡¯s leading manufacturer of telecommunication, railway and electrical power equipment by 2025, as the country ramps up its implementation of the Made in China 2025 strategy, according to a new roadmap released on Jan 26.
Qu Xianming, an expert involved in drafting the updated version of the Made in China 2025 technology roadmap, said China has already made great strides in the above three areas, but more efforts are needed to crack the bottlenecks of key components in order to achieve global supremacy.
¡°It is not just about production capacity. Instead, we aim to become No 1 in research and development, as well as the application of these products,¡± said Qu, an expert with the National Manufacturing Strategy Advisory Committee, an organization that advises the government on plans to upgrade the manufacturing sector.
According to Qu, home appliances, petroleum refining equipment and construction machinery are also likely to be added into the key areas of Made in China 2025.
¡°It is still under discussion. But if they are added to the list, the central government will roll out measures to assist their development,¡± Qu added.
The first version of the Made in China 2025 technology roadmap was published in 2015. It was designed to guide local governments and enterprises in their manufacturing investment and other business decisions.
But the past two years have witnessed new ideas and technologies pop up, demanding an updated technology roadmap to reflect the new trends and problems in the manufacturing industry.
Xin Guobin, vice-minister of industry and information technology, said China has already become one of the world¡¯s largest producers of more than 220 types of products.
¡°But we are still facing big challenges in producing reliable core components, and many products are still mid-tier to low-end. We hope the roadmap can serve as guidance for companies to cultivate innovation and upgrade their plants,¡± Xin said.
According to the updated roadmap, China¡¯s homegrown robotics, high-end automation and new energy vehicles industries are all likely to rank No 2 or No 3 globally by 2025.
But China will still lag behind some foreign countries in the fields of semiconductors, operating systems and industrial software at that time. (Jan.29,2018)

point.gif (302 bytes) China to beef up quality certification system
To boost supply-side structural reform and administrative streamlining, China is stepping up efforts to boost quality by enhancing the quality certification system and quality management, according to a circular recently released by the State Council.
As a basic principle, a unified and top-level plan is required, with no possibility for industry monopoly or market barriers. The market should play a decisive role in supply and demand with governmental guidance.
Meanwhile, compulsory and voluntary certification should be combined to call up efforts from all walks of life to enhance quality management.
These efforts are aimed at building a sound quality certification system in three to five years, with improved quality in primary products, projects, services, consumer goods and food, and some internally competitive brands.
International advanced quality management standards will be adopted, such as the new ISO 9001. Companies should be encouraged to enhance quality management using these standards, which are to be introduced throughout the industry and social governance.
Governments at all levels are expected to employ the quality management system to transform their management styles with better administration efficiency and credibility.
Efforts will be made to spread the quality certification system to different enterprises with necessary and compulsory certification in place for products concerning security, health, and environment under the rules of the World Trade Organization.
The quality of new technologies, products and business models should be supervised in an inclusive but prudent way in order to foster new economic drivers and bolster industrial transformation.
Apart from the unified certification system, other redundant certifications and related charges should be cleaned up. Certification institutions should provide an integrated solution from test to certification, to lower costs for enterprises.
Moreover, a supervision system involving different parties will be enhanced, and international cooperation is encouraged for mutual recognition of quality certification. (Jan.29,2018)

point.gif (302 bytes) China to uproot ¡®protective umbrellas¡¯ of organized crime
BEIJING ¡ª A document issued on Jan 24 stressed that a campaign on organized crime should involve fighting corruption, including lower-level corrupt officials, and deal with ¡°protective umbrellas¡± of gang crime.
Disciplinary agencies should punish Communist Party of China (CPC) members involved in gang crime in disciplinary supervision and inspection, according to the document released by the CPC Central Committee and the State Council.
The document said that disciplinary agencies and political and legal bureaus should find and tackle the corruption behind gang crime.
Disciplinary agencies at all levels should deal with ¡°protective umbrellas¡± and investigate no matter who is involved.
Organized crime is deeply interwoven with corruption and cases related to poverty reduction should be given the highest attention. (Jan.29,2018)

point.gif (302 bytes) China to make cities safer
BEIJING ¡ª China unveiled a guideline to push for safe development of cities, as some major accidents in cities caused great casualties and property loss in recent years on Jan 7.
The country must uphold the vision of making development people-centered and never seek development at the cost of safety, according to the guideline made public by the general offices of the Communist Party of China Central Committee and the State Council.
By 2020, China aims to achieve ¡°noticeable progress¡± in safe urban development, and create a number of demonstration cities in line with the objectives for becoming a moderately prosperous society in all respects, the guideline said.
By 2035, the country should put in place an improved system for safe urban development and create safe cities that are in line with the requirements for basically realizing socialist modernization, it added.
With the acceleration of China¡¯s urbanization, the population, functions and sizes of Chinese cities have been expanding rapidly, but safety hazards are also on the rise as cities become more complicated.
At the end of 2016, the ratio of permanent urban residents to total population stood at 57.35 percent, up from 52.57 percent at the end of 2012, data from the National Bureau of Statistics showed.
The country must raise the capability of ensuring urban safety and prevent major accidents to create a sound environment for people¡¯s lives and work, according to the guideline.
The notion of safe development should be reflected in making plans for cities, including those for urban social and economic development and for disaster prevention and relief.
For residential areas, commercial areas, development zones, industrial parks and port areas, safety must be the prerequisite in determining their spatial layouts, the guideline said.
Safety-related laws, regulations and standards should be improved to raise the country¡¯s ability to ward off risks and ensure the safe functioning of urban facilities, it said.
¡°Safety must be put in the first place in urban infrastructure construction,¡± according to the guideline.
China should push forward the construction of multi-functional underground pipeline corridors in an orderly manner, and reinforce the safety supervision of the construction and operation of transport, water, drainage, heating, natural gas and other infrastructure projects.
China should also strengthen safety risk control by thoroughly identifying urban safety risks, building a risk information management platform and drawing a map for the distribution of such risks in four tiers, with red representing the most severe, followed by orange, yellow and blue.
The screening and overhaul of urban safety hazards will be standardized by further improving the mechanism for the identification, registration and supervision of major sources of dangers, building a database for dynamic management and raising the online supervision capacity, the guideline said.
Emergency management and rescue capabilities will be reinforced, as the country will pursue fast, scientific and effective rescue efforts, improve the emergency rescue management in cities and push for information sharing and coordination of different departments.
The guideline also detailed measures on raising the country¡¯s safety supervision efficiency, making cities better at ensuring safety and improving leadership and coordination. (Jan.12,2018) from:english.gov.cn

point.gif (302 bytes) Consumer inflation stays within target in 2017
China¡¯s consumer inflation increased by 1.6 percent last year, lower than the yearly control target of 3 percent. Analysts said it will moderately rise by over 2 percent this year, but will not trigger any major monetary policy adjustment.
The Consumer Price Index accelerated to 1.8 percent in December, the National Bureau of Statistics announced on its website.
Weakening food prices are a major contributor to the fall in CPI inflation last month, Sheng Guoqing, a senior statistician of the NBS, said in a statement. Non-food price rises are the main cause of the overall growth, he said.
Whole-year CPI growth came in at 2 percent in 2016, according to the NBS. China set the control target of 3 percent last year.
Looking ahead, the consumer inflation rate could surge in February, in which the Spring Festival falls, analysts said. The seven-day holiday for the festival generally boosts consumption and consumer prices.
Zhu Jianfang, chief economist at CITIC Securities, said CPI growth could reach 3 percent in February and the whole-year reading could rise to 2.5 percent this year.
Huatai Securities forecast in a research note that average CPI growth could be around 2.5 percent this year. If international oil prices rose to about $75 a barrel, China¡¯s inflation could reach 3 percent, it said.
¡°The expected high CPI reading in February could have a short-term impact on monetary policymaking and the financial market,¡± Zhu said.
But for the whole year, moderate CPI growth will not have a major bearing on the current monetary policy stance, said Yan Ling, analyst with China Merchants Securities. Yan forecast whole-year CPI growth of 2.3 percent.
Monetary policy will become neutral this year, analysts said.
¡°This year¡¯s (financial) regulatory focus will be on prevention of risks and cutting leverage,¡± according to a Haitong Securities research note.
China¡¯s Producer Price Index, which gauges factory-gate prices and is a major indicator of business health, rose 4.9 percent from a year earlier in December, compared with 5.8 percent in November. It is the slowest growth in 13 months.
The PPI decline is attributable to the weakening price growth in such sectors as oil and gas exploration, ferrous and non-ferrous metals, and coal mining and washing, which had bolstered the strong growth of PPI in previous months.
For the whole of 2017, PPI rose by 6.3 percent, compared with a drop of 1.4 percent for 2016, reversing the trend of continual PPI decline since 2012. (Jan.12,2018) from:english.gov.cn

point.gif (302 bytes) China steps up taxation reform
According to the State Administration of Taxation, in 2017, taxation issues were mentioned during 24 of 34 State Council executive meetings, including optimization of the taxation system, tax relief, and further improvements in the business environment. This clearly demonstrates that tax occupies an exceedingly important place in governance.
Optimization of taxation system
Value-added tax (VAT) reform was a major concern of the State Council in 2017, for which a succession of arrangements were made, covering streamlining VAT rates, formulating detailed plans, legalizing VAT reform by abolishing business tax regulations, and introducing regulations in environmental protection, among others.
Taxation reform injects tremendous momentum into the development of market economy and plays a significant part in market regulation, economic restructuring, and the upgrading of drivers, said Yue Shumin, a professor at the School of Finance of Renmin University.
Tax relief
Tax relief is also a task of great importance, a key vehicle for a slew of economic policies, including mass entrepreneurship and innovation, sharing economy facilitation, and Made in China 2025.
The implementation work of tax cuts, based on actual conditions, was fulfilled by taxation authorities at all levels, bolstering economic restructuring and safeguarding people¡¯s well-being, said Yang Zhiyong, a researcher at the National Academy of Economic Strategy of the Chinese Academy of Social Sciences.
Further improvements in business environment
Streamlining multiple certificates into one has been in full swing since April, for which the State Council stepped up related legalization and policies in a bid to uphold fairness and equity in the business environment.
In addition, taxation reform also acts as a capable driver, highlighting streamlining administration and delegating power while improving regulation, and enhancing public services. This will boost the construction of an internationalized and market-driven business environment that is fully regulated by the law, said Li Wanfu, head of the tax administration¡¯s Taxation Research Center. (Jan.11,2018) from: english.gov.cn

point.gif (302 bytes) Laws and regulations for FTZs to be temporarily adjusted
The State Council has decided to adjust some laws and regulations adapted to China¡¯s Free Trade Zones (FTZs), in a bid to better implement the opening-up and reform policies in the zones.
Eleven administrative regulations, including the ship registration rules, two State Council circulars on domestic urban rail transit equipment and city rapid rail transit and another two documents on industries for foreign investment and foreign investment in aviation industry, will be temporarily adjusted in the FTZs, according to the State Council decision.
It also urged related departments and governments of the 11 provincial regions where the free trade zones are established, such as Shanghai Municipality, Fujian, Zhejiang and Henan provinces, to adjust local related laws and regulations to adapt to the changes made by the central government.(Jan.11,2018) from:english.gov.cn

point.gif (302 bytes) President Xi delivers New Year speech vowing resolute reform in 2018
President Xi Jinping delivers a New Year speech to extend New Year greetings to all Chinese, and best wishes to friends all over the world, in Beijing, capital of China, Dec 31, 2017.[Photo/Xinhua]
BEIJING ¡ª President Xi Jinping delivered a New Year speech on Dec 31, vowing that China would resolutely carry out reform in 2018.
¡°We will take the opportunity of celebrating the 40th anniversary of the reform and opening-up in 2018 to further carry out reform, as reform and opening-up is the path we must take to make progress in contemporary China and to realize the Chinese dream,¡± Xi said.
He cited a Chinese adage, saying that the Chinese people would ¡°cut paths through mountains, and build bridges across rivers¡± to move forward on reform.
He extended New Year greetings to all Chinese, and best wishes to friends all over the world.
Xi said the year 2018 marked the first year of fully implementing ¡°the spirit of the 19th National Congress of the Communist Party of China,¡± which outlines China¡¯s desired development blueprint over the next three decades.
¡°Building a high-rise begins with mounds of soil,¡± Xi said, borrowing an ancient Chinese phrase to urge his fellow Chinese to take a step-by-step approach and work hard to turn the blueprint into a reality.
Xi said that by 2020 all rural residents living below the current poverty line should have been lifted out of poverty. It will be the first time in China¡¯s thousands of years of history that extreme poverty is eliminated.
¡°It is our solemn promise,¡± Xi said. ¡°Only three years are left to 2020. Every one of us must be called to action, do our best, take targeted measures to secure victories one after another.¡±
¡°This is a great cause, important to both the Chinese nation and humanity. Let¡¯s do it together and make it happen,¡± he said.
Xi said China¡¯s great achievement of development was made by the people and for the people, and that among the people¡¯s most pressing concerns were education, employment, income, social security, healthcare, elderly care, housing and environmental protection.
The President admitted that there were areas where the government¡¯s work fell short of expectations. Though progress has been made, he said, issues of public concern remain.
¡°That is why we should strengthen our sense of responsibility, and do a good job of ensuring the people¡¯s well-being,¡± Xi said. ¡°The well-being of our people is the Party and the government¡¯s greatest political achievement. Our cadres should put the people¡¯s state of living at the heart, and help them live a better life.¡±
On international affairs, Xi said the world expected to hear China¡¯s stance and attitude on issues concerning peace and development.
¡°As a responsible major country, China has something to say,¡± Xi said.
¡°China will resolutely uphold the authority and status of the United Nations, actively fulfill China¡¯s international obligations and duties, remain firmly committed to China¡¯s pledges to tackle climate change, actively push for the Belt and Road Initiative, and always be a builder of world peace, contributor of global development and keeper of international order,¡± he said. ¡°The Chinese people are ready to chart out a more prosperous and peaceful future for humanity, with people from other countries.¡±
(Jan.02,2018) from:english.gov.cn

point.gif (302 bytes) Economy to remain stable through 2018
hina¡¯s economic growth results are expected to remain stable not only in 2017 economic reports yet to be released but also in 2018, despite a slight decline in a major index measuring the expansion of the manufacturing sector in December, analysts said.
While there is some variation in the forecast, analysts said the country¡¯s GDP growth may register up to 6.9 percent for 2017.
The official manufacturing purchasing managers index, released on Dec 31, dropped to 51.6 in December, compared with 51.8 in November, according to the National Bureau of Statistics.
Still, the index remained comfortably above the 50-point mark that separates growth from contraction, with numbers above 50 indicating expansion.
¡°The manufacturing sector is stable and improving, a trend that has become more entrenched,¡± Zhao Qinghe, a senior NBS statistician, said in a statement.
The annual average reading of the index for 2017 was 51.6, which is 1.3 points higher than in 2016.
¡°The December reading dropped a little bit, but it still reached the annual average level, indicating that expansion of the manufacturing sector remains strong,¡± Zhao said.
As seen in PMI changes in 2017, the trend of an improving economy has become more obvious, said Chen Zhongtao, an analyst at China Logistics Information Center.
¡°The PMI has remained above 51 and even exceeded 52 in September. The overall trend is stable, with only small monthly fluctuations,¡± he said.
Based on the average monthly reading of PMI, Chen said China¡¯s GDP growth could reach about 6.9 percent in 2017.
Growth in the fourth quarter could reach 6.7 percent and the whole-year growth could be 6.8 percent, said Li Chao, an analyst at Huatai Securities.
China achieved GDP growth of 6.9 percent for the first three-quarters. Analysts generally predicted that growth could dip in the fourth quarter as the effect of environmental protection measures and slowing property sales growth unfolded.
Growth in China¡¯s services industry picked up in December, an official survey showed on Dec 31, as the sector continued to show solid expansion.
NBS also said that China¡¯s official nonmanufacturing PMI rose to 55 in December, up from 54.8 in November.
The services sector accounts for over half of China¡¯s economic growth, and analysts said the strong nonmanufacturing sector expansion, together with the manufacturing expansion, will contribute to the stable GDP growth this year.
The nonmanufacturing index reading has remained above 54 in 2017 except in August.
Qu Qing, an analyst at Hua Chuang Securities, said the construction sector has helped bolster the index, indicating that infrastructure investment remains stable, which will help boost overall economic growth in 2018.
Despite its stable economic growth trend, China also faces some challenges, such as an increase in raw materials prices and rising corporate costs, said Chen of China Logistics Information Center.(
Jan.02,2018) from: english.gov.cn

   Copyright by Yingkou People's Municipal Government.(2004) All rights reserved. 
     Homepage made by Yingkou Information Center. Liao ICP File:05015497
 webmaster@yingkou.net.cn  Tel: 86-417-2998801