Economic Calendar: Monetary Policy, GDP, Inflation and China Trade Data

(Beijing Today website’s blog section does not represent any view of Beijing Today or its reporter. Anyone interested about the story can find the original text from the link above the article. The Blogger column aims to introducing foreign media’s interesting stories and expat blogs in China to more Chinese readers. As 50 percent of Beijing Today readership remain young Chinese who have experience of living abroad, white colors or school students. Authors who does not want his or her story linked at Beijing Today’s website, please email to info@beijingtoday.com.cn to take down the stories.)

(http://seekingalpha.com/article/273428-economic-calendar-monetary-policy-gdp-inflation-and-china-trade-data)

By Econ Grapher

Here’s the economic calendar for the week commencing the 30th of May 2011. This week there’s a number of monetary policy decisions due from both emerging market and developed market central banks. There are also further revisions to Q1 GDP data due out from Japan and the eurozone. Among other data points due out this week is employment data from Canada and Australia, international trade flows for China, and some inflation metrics for Germany, the UK and US.

The week ahead is set to be a busy one in terms of monetary policy with the following banks due to announce decisions: National Bank of Poland – 8^th of June (expected to hold at 4.25%), Banco Central do Brasil – 8^thJune (expected to increase 25bps from current 12.00%), Bank of Korea – 10th of June (expected to hold at 3.00), Reserve Bank of Australia – 7^thof June (expected to hold at 4.75%), Reserve Bank of New Zealand – 9^thJune (expected to hold at 2.50%), Bank of England – 9^th June (expected to hold at 0.50%), and the European Central Bank – 9^th June (expected to pause its tightening again at 1.25%). The tone and content of the developed market central banks will be interest in terms of assessing the inflation and monetary policy outlook.

On GDP, while Australia announced its disappointing result last week, this week is relatively quiet with data due from Japan and the eurozone. The data is essentially a further revision to the original Q1 data, expectations are that the eurozone will likely stay near its original reading, but Japan may revise its GDP figures downward as the impact of the disasters become clearer.

As for inflation, there’s not a lot of major data out, but as inflation is almost set to be a big topic in the medium term, it’s wise to monitor all aspects of the inflation picture closely for any early clues of major trends. The US has import price data due out, expected to moderate a little bit as oil prices stabilize. The UK has PPI data due, which is also expected to moderate slightly for the same reasons. Switzerland and Germany have consumer price index numbers due, which are expected to be about flat.

Elsewhere this week, there’s employment numbers from Australia and Canada; Canada is expected to show a small positive, while both economies will likely see no significant changes in the unemployment rate. Another key data point this week will be China’s international trade figures, which are expected to see moderate growth in exports and imports, and a trade balance as high as $20B.

So as always, have a great week, watch out for surprises, and stay tuned for updates…

Sources

• DailyFX
• Forex Pros
• Forex Factory
• Bloomberg

+various statistics websites and central bank websites for verification

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

EU comments on draft catalogue in China

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European Chamber Comments on Draft Catalogue

of the Guiding Principles of Foreign Invested Industries

Beijing, 9 May 2011 – The European Union Chamber of Commerce in China provided information to the State Council’s Legislative Affairs Office (SCLAO) and the National Development and Reform Commission (NDRC) as part of the public consultation on the Revised Draft of the Catalogue of the Guiding Principles of Foreign Invested Industries (Investment Catalogue).

The European Chamber welcomes such public consultation, which reflects a positive step towards more transparency in the formulation of policy and legislation. Consultation results in regulatory outcomes that are more widely supported by various stakeholders in China.

The European Chamber recognizes some progress in sector such as financial leasing, automobile industry, and printed publications.  However, consultation with Chamber members shows that in some key areas the draft Investment catalogue falls short of expectations set by the 12th Five-Year Plan which was approved by the National People’s Congress in March this year.

Development of the service sector was highlighted as an area in need of improvement after the 11th Five Year Plan/ by Premier Wen in his annual work report, and was identified as a priority in the 12th Five Year Plan. The service sector is proven to create more employment and be less energy-intensive per unit of GDP.  Unfortunately, the draft Investment Catalogue does not improve the business environment for foreign-invested enterprises in the service sector, the majority of which continues to be off-limits to European companies.

Davide Cucino, President of the European Union Chamber of Commerce in China said “European service providers in areas ranging from insurance to construction and travel to telecommunications have a wealth of global experience. Their expertise is a valuable source of labour-intensive, low-carbon growth. A more developed service sector would also improve Chinese consumer choice, while driving domestic consumption.”

For more information, please contact:

Effie Wu, Press Officer
European Union Chamber of Commerce in China
Phone: +86 (0)10 6462 2066 – 22
Mobile: +86 134 8888 1345
E-mail: ewu@europeanchamber.com.cn
Website: www.europeanchamber.com.cn

About the European Union Chamber of Commerce in China

The European Union Chamber of Commerce in China was founded by 51 European member companies on 19th October 2000. The European Chamber was established to give European businesses a common voice across different business sectors, nationalities and regions of China. Nearly ten years after its foundation, the European Chamber now has more than 1600 members and is active in eight cities: Beijing, Chengdu, Nanjing, Pearl River Delta (Guangzhou and Shenzhen), Shanghai, Shenyang and Tianjin. The Chamber is recognized by the European Commission and the Chinese authorities as the authoritative and independent voice of European business in China.

The European Chamber is built around 35 Working Groups and Forums, bringing together senior executives who engage in strategic discussions ranging from market access to the evolution of the business environment in China. Through regular dialogues with both the Chinese and European government, the Chamber conveys the operational business concerns of European companies and makes suggestions for improvements to policy-makers.

Four injured in iPad fight at Beijing Apple store

(Beijing Today website’s blog section does not represent any view of Beijing Today or its reporter. Anyone interested about the story can find the original text from the link above the article. The Blogger column aims to introducing foreign media’s interesting stories and expat blogs in China to more Chinese readers, as 50 percent of Beijing Today readership remain young Chinese who have experience of living abroad, white colors or school students. Authors who does not want his or her story linked at Beijing Today’s website, please email to info@beijingtoday.com.cn to take down the stories.)

http://news.yahoo.com/s/afp/20110508/ts_afp/chinaitcompanyinternetusappleipad_20110508071050

Four injured in iPad fight at Beijing Apple store

BEIJING (AFP) – Four people were taken to hospital and a glass door smashed as a near-riot broke out at Beijing’s top Apple store among crowds rushing to snap up the popular iPad 2 tablet computer, according to state press.

Angry consumers began rushing the store on Saturday afternoon after a “foreign” Apple employee allegedly stepped into the crowd to push and beat people suspected of queue jumping, the Beijing News said.

After the employee retreated back into the store, a crowd of consumers smashed the glass front door and shoved security guards as they surged forward in anger over the alleged beatings, the report said.

Consumers have lined up for hours at Apple stores in Beijing and Shanghai since the iPad 2, the updated version of the tablet computer, went on sale in the world’s biggest Internet market on Friday.

The store in Beijing’s chic Sanlitun commercial district closed early Saturday because of the altercation, but according to a voice recording on the store’s phone was open for business Sunday.

Apple officials were not immediately available for comment when telephoned by AFP.

Police were investigating the incident and have interviewed four people hospitalised with injuries, the Beijing News said.

Lines for the popular iPad 2 have grown so long that people have begun selling their places in the queue, while a secondary market has also developed with consumers reselling their tablet computers for profit after leaving the store, the report said.

Late Saturday, the store posted a notice saying that queue jumping and the unauthorised sales of Apple products would not be tolerated, the paper said.

Skirmish shuts down Beijing Apple store

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http://edition.cnn.com/2011/WORLD/asiapcf/05/09/china.apple.iPad.fight/index.html?section=cnn_latest

Skirmish shuts down Beijing Apple store

By Jo Ling Kent, CNN
May 9, 2011 — Updated 0624 GMT (1424 HKT)

Beijing, China (CNN) — In China, Apple products are hot. Long lines of eager customers and swarms of lurking scalpers are typical each time Apple launches a new product here.

The release of the iPad 2 and white iPhone 4 last weekend was no exception. However, sales on Saturday hit a speed bump when foreign Apple employees and Chinese customers were caught in a scuffle outside one of Apple’s Beijing stores.

According to witnesses, a Chinese man thought to be a scalper — a buyer who makes multiple purchases to resell at higher prices — tried three times to cut into a long line of customers waiting to buy the newly-released white iPhone 4 in Beijing. Three Apple security guards and an Apple manager attempted to escort the individual away from the store. Two of the employees were foreigners.

As the man was taken away, witnesses said a shoving match erupted, involving an Apple employee and a member of the alleged scalpers’ family. When the situation escalated, Apple security guards shut and locked the front door of the store.

In protest, a group rushed the entrance and shook the glass door until it shattered. A metal hinge was seen falling from the door, hitting a security guard on the head. Two men and two women suffered minor injuries in the clash, state media reported.

The store, which is located in Beijing’s high-end Sanlitun Village shopping and dining center, was closed to the public on Saturday afternoon for repairs. The confrontation was resolved peacefully, according to a police source who spoke with the state-run People’s Daily newspaper.

“The Apple store in Sanlitun closed for several hours on Saturday after a group outside the store became unruly. The store team acted to protect themselves and our customers by closing the doors and preventing the group from entering. The safety of our customers and employees is our top priority,” Beijing-based Apple spokeswoman Carolyn Wu told CNN.

Local police declined to comment on the situation. By Sunday, Apple resumed normal business hours. Lines for the iPad 2 and white iPhone 4 were visibly shorter than the previous two days.

Just a few steps away from this Apple store, the gray market for iPads and iPhones continued to thrive on Sunday, with scalpers hawking freshly-purchased products for sale, still packaged in shrink-wrapped boxes and Apple’s signature white shopping bags. Some scalpers offered passersby receipts indicating same-day purchase.

Apple declined to comment on the scalpers and reselling industry in China.

“Demand on the next generation iPad 2 has been amazing,” Wu said. “We are working hard to get the iPad 2 into the hands of every customer who wants one as quickly as possible.”

Despite only having four retail stores in China, Apple dominates the tablet market in China, harnessing more than three-quarters of the market, according to analysts. When the first edition of the iPad launched in September, customers in Beijing camped out for more than 65 hours to be among the first to purchase the tablet.

The American electronics-maker has enjoyed rapid growth and overwhelming demand since it opened its first store in China in 2008. Apple now has four stores in China — two in both Beijing and Shanghai.

Australia prepared to receive more Chinese tourists

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Australia-China Tourism Summit 2011 – a platform for the representatives from the Australian and Chinese governments, tourist industries, aviation industries and financial industries is to open on June 7-9 later this year.

The summit will discuss topics like emerging trends, financial support, aviation and sustainable development in the bilateral tourist industries. It will bring government officials, industrial reps and panels to present the policies, marketing, technology, distribution, product development and more. The host, Tourism Australia, will launch its 2020 China Strategic Plan during the event.

It’s not the first effort Australia has done to promote its tourist industry to China. During Australia Prime Minister Julia Gillard’s visit to Beijing in late April, Tourism Australia and China Natioanl Tourism Administration signed a Memorandum of Understanding to “strengthening tourism cooperation”.

The MoU will encourage increased tourism flows and strengthen links between the two countries. In addition to the traditional group travel, this MoU will promote cooperation in emerging travel segments such as individual, education and company paid incentive travel and will further streamline visa arrangements for Chinese travellers.

“China has been one of the most important sources of tourists to Australia.” Andrew McEvoy, the newly appointed executive president of Tourisn Australia, told media.

The number of Chinese tourists to Australia has quadrupled over the past decade and reached 453,800 in 2010, 24 percent increase over the previous year. Chinese tourists brought three billion Australian dollar to the country, a increase of 20 percent.

Tourism Australia is scheduled to increase the income from tourism to 140 billion Australian dollar in 2020. “We’re expecting Chinese tourists to play a critically important role in this process,” the president said, “they’re expected to bring 9.5 billion by then.”

To reach the target, Tourism Australia is promoting worldwide. In the US market, they are trying to lure more Americans to spend vocations in Australia. Canada, Brazil and Argentina are also the major sources of expected tourists.

In Asia, Japan, Korea, Singapore, Hong Kong, China, Malaysia, India, Chinese Taiwan, Indonesia, Thailand and Vietnam are the targets.

In Europe, the agency is focusing on the countries like United Kingdom, Germany, France, Italy, Ireland, Scandinavian countries, Switzerland and the Netherlands.

The agency is promoting in Australia New Zealand as well, preparing more tourism facts, quarterly indicators, marketing activities, accommodation and business events for the native tourists.

Policy or not, many urban Chinese only want one child

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BEIJING (Reuters) – For many young Beijing parents, debate about China’s restrictive “one-child” policy is far less pressing than the task at hand — how to afford the cost of bringing up even one child. China’s census released on Thursday should make for stark reading for policymakers, showing more old people and fewer young people to pay for them, the result of three decades of policies aimed at slowing population growth. While the government enforces the policy unevenly these days — urban couples who are themselves single children are permitted two of their own, for example — policy makers have shown no intention of abandoning it. Yet with ever-rising costs in cities such as Beijing, the question for many is not whether they want another child but whether they can bear the cost. “I can’t even get this one into kindergarten,” complained housewife Li Tong, 29, out walking with her three-year-old son in Beijing’s fashionable Sanlitun shopping district. “Education is a real concern for us. I have many friends who don’t want children at all. One is enough for me.” Like the residents of Hong Kong and Singapore, which have among the world’s lowest birthrates, China’s urbanites are starting to believe that the expense of maintaining larger families outweighs the benefits. That’s the view of Wang Gui, 35 and father of a four-year-old boy. “We actually would like another, and according to current rules we can,” said Wang, who works for one of China’s state-owned oil giants. “But I think the cost would be prohibitive. It’s too much pressure to expect us to cope with. “I do think the policy should remain, however. Those people in the countryside would just pop out babies left, right and center if given a chance, and we as a country don’t have the necessary resources.” Many economists have forecast that China’s headline consumer inflation will accelerate to over 6 percent in the second quarter, from 5.4 percent in March. And as China’s economy has boomed, infrastructure has struggled to keep up despite the billions of yuan invested in roads, railways, schools and hospitals. “China has too many people, we have too much pressure on housing and transportation,” said Zheng Xing, 26. “I will have only one child. I cannot afford a second financially. Inflation is so high, everything is expensive and income is limited.” Still, as China’s population gets better educated and more worldly, debate about the one-child policy has grown. “It should be up to the individual to decide. It’s no business of the government’s,” said Wang Hui, sweating under a layer of heavy make-up and false eyelashes as she chased her daughter in front of an up-market mall. “I don’t want her to be lonely growing up. Maybe one more would be good.” Dorris Ma said she could not wait to have another child. “I want to have a second child if policies allow. One family one child — that’s not good for the psychological development of the child.” (Editing by Don Durfee and Ron Popeski)

200 Chinese couples marry on day of royal wedding

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http://in.news.yahoo.com/200-chinese-couples-marry-day-royal-wedding-141716590.htm

Beijing, April 29 (IANS) Two hundred Chinese couples tied the knot in a group wedding ceremony Friday, as Prince William and Kate Middleton wed in faraway London.

The newly-weds were mostly from Tsinghua University in Beijing, Xinhua reported.

‘Getting married at my school is sweet. And to make it better, we can celebrate the matrimony with the royal family,’ said Wu Jing.

Another newly-wed, Shen Chanjing, said: ‘As long as I am married to the right man, I will become his princess.’

(The group wedding is organized and held by Beijing Youth Daily, one of the leading and most popular newspaper in Beijing. The newspaper contributed 100 pages carrying the stories of the 200 coulpes and sent wishes to all the brides and grooms.)

DCCC Saturday’s Sports Day – Agenda

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Dear DCCC members,

We look forward seeing you this Saturday in Chaoyang Park for a fun day of Sports and Picnic with all your Scandinavian families and friends.

The day will feature a multitude of sporting activities to part-take in; ranging from football to running to Heyrobics to Easter Egg hunt for kids, you’ll have plenty to engage from 12.00 to 16.00. See attached agenda for the day.

For those of you who haven’t signed up yet, please email sportsday@heyrobics.com. You can find the full invitation here: http://issuu.com/heyrobics/docs/scandinavian_sports_day_-_chaoyang_park_april_30_2

Currently, weather forecasts predict great weather, 23�, a few clouds & lots of sun!

Bring: nothing but your regular sportswear & sign up fee (50 RMB for Sports Day, 100 RMB for The Den). Optional take-ins are picnic and blankets to spend your day on! Also make sure that you, in your sign up email, have specified that you will take place in both activities in order secure your spot at The Den.

Following the Chaoyang Park activities, the day rounds off with buffet dinner at The Den, with unlimited food & plenty of drinks!

We welcome you to a great and active day – feel free to get back to us with any questions and/or if you have additional friends that you would want to bring to the event!

Best regards,

The Heyrobics Team, Swedish & Danish Young Professionals, Swedish – & Danish Chamber of Commerce

PS. Park entry fee is 5 RMB. Monthly passes are available onsite for 8 RMB (passport sized picture required), take the opportunity to buy one to enjoy full park access for entire May! DS

Best regards,

Danish Chamber of Commerce in China

2011-04-26

SSD_Schedule___Directions,_2011-04-30

European Chamber Members Elect New Leadership

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Beijing, 26th April, 2011 – On April 25 2011 at the European Union Chamber of Commerce in China Annual General Meeting, member company representatives elected Davide Cucino as the new President.

Together with the President, three Vice-Presidents were elected: Jens Ruebbert，Mei-Wei Cheng and Miroslav Kolesar. Piter de Jong in his capacity as Chair of the European Union Chamber of Commerce in China’s Shanghai Chapter, continues his tenure as Vice-President.

The President will chair the Executive Committee, whose prime responsibility is to provide strategic direction for the European Chamber. The Executive Committee is composed of elected members and is collectively responsible for managing the European Chamber and represents its 1600 member companies.

The President and Vice-Presidents of the European Union Chamber of Commerce in China Executive Committee 2011/2012:

President – Mr. Davide Cucino
CEO of Ansaldo STS Beijing Ltd.

Vice-President – Mr. Jens Ruebbert
Managing Director and Chief Administrative Officer of Deutsche Bank China Co., Ltd.

Vice-President – Mr. Mei-Wei Cheng
President of Siemens North East Asia and CEO of Siemens Ltd. China

Vice-President – Mr. Miroslav Kolesar
Chief Representative of Czech PPF

Vice-President – Mr. Piter De Jong
Managing Director and Branch Manager of ING Bank NV, Shanghai Branch

Treasurer – Mr. Andreas Feege
Partner Audit, KPMG Huazhen Certified Public Accountants

Beijing well guarded against 16 infectious diseases

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http://english.peopledaily.com.cn/90001/90782/90880/7360698.html

Beijing, April 25, 2011 (People’s Daily) – Beijing provides vaccines against 16 different infectious diseases to more than 10 million people each year, Mao Yu, a spokesperson of the Beijing Municipal Health Bureau, revealed on April 21. Infectious diseases used to be the leading cause of death in Beijing in the 1950s, but have now dropped to 10th place.

Mao said in an interview on the eve of the 26th National Immunization Publicity Day that Beijing began providing vaccines against tuberculosis, poliomyelitis, DPT (diphtheria, pertussis, and tetanus), and measles in 1978, and added vaccines against meningitis and encephalitis to its regular inoculation service list in the following years.

There were 12 kinds of vaccines on the list by the end of 2007, and the number has now risen to 16.

He said that over 10 million people receive vaccinations in Beijing each year. The inoculation service has not only effectively protected public health, but also greatly reduced the incidence of infectious diseases in the city.

In order to minimize the risk of epidemics brought about by the floating population, Beijing has launched massive campaigns to inoculate unvaccinated preschool children for 10 straight years. After checking a total of 2.4 million non-native children, the city has inoculated 290,000 unvaccinated children against polio, nearly 20,000 unvaccinated children against hepatitis B, 28,000 unvaccinated children against DPT, and 44,000 unvaccinated children against measles.

Furthermore, Beijing inoculated some 2 million migrant workers against meningitis and measles from 2004 to 2010, which has effectively protected them from both diseases.

Mao said that as the weather gets warmer, there will be more cases of intestinal and respiratory infectious diseases in Beijing. The prevention and control of infectious diseases should be strengthened in schools and kindergartens, so as to prevent the outbreak of epidemics.