Growth forecasts rise after strong quarter
Economists are revising upwards their forecasts for China's economic growth this year after the country's surprisingly strong first quarter. The revisions came as the Asian Development Bank forecast China's economic growth would outpace its neighbours this year and next. (SCMP, 23 April)

China lifts stock-trading ban for Party officials
The central government has lifted an eight-year ban prohibiting Communist Party officials and government officials at the county or department level from trading stocks. The prohibition began in 1993 and was intended to prevent high-ranking officials from using their powers to manipulate stock markets. However, as China's stock market expanded, many Communist Party officials and high-ranking government functionaries violated the ban and secretly traded stocks anyway. (ChinaOnline, 23 April)

Shanghai FDI on rise
According to the latest report released by the Shanghai Bureau of Statistics, in the first three months of 2001, a total of 546 foreign direct investment projects were signed, 154 more than the same period last year. The RMB 17.36 billion total contractual amount was a 110% increase from the same period last year. The amount of realized FDI was RMB 7.43 billion, rising 39.7% from last year's first quarter. (ChinaOnline, 23 April)

Consumer prices dip slightly in March
China's consumer prices in March were 0.6% lower than in February but still 0.8% higher than in March 2000. (ChinaOnline, 23 April)

Retail sales up in first quarter
China's first-quarter retail sales of consumer goods totaled RMB 925.6 billion, up 10.3% from the same period last year. The growth rate was basically the same as last year's, and it was higher in cities than in counties and rural areas. (ChinaOnline, 23 April)

RMB 12 billion in T-bonds out this week
China will issue RMB 12 billion in treasury bonds. The T-bonds mature in seven years at an annual interest rate of 3.27%. (China Daily, 24 April)

First delisting of a Chinese company
Shanghai-listed Narcissus Electric Appliances Co Ltd is the first company to be delisted in China, putting into practice a government's warning to clear out firms which make continuous losses from the stock market. The company had both A and B shares and had recorded net losses for four years. (China Daily, 24 April)

130 Beijing hospitals to become profit-oriented
Beijing will allow at least 130 of its approximately 600 hospitals to become for-profit businesses. These private clinics, shareholding hospitals and Sino-foreign joint venture institutions will be allowed to set their own healthcare rates. (Beijing Morning Post, 24 April)

China cellphone use breaks 100 million-user mark
The country has added 15.05 million new mobile phone subscribers in the first quarter of 2001, bringing the total to 100.3 million users. Mobile phone business income rose to 46.2% of total telecommunication industry revenues, making mobile phone services the No. 1 business operation in the telecom sector. (ChinaOnline, 24 April)

Quality, inspection and quarantine bureau formed
A new State Bureau of Quality Supervision, Inspection and Quarantine has been formed in China. The new entity, a merger between the previous State Bureau of Quality and Technical Supervision and State Administration for Exit-Entry Inspection and Quarantine, will assume all responsibilities of the two former agencies. In addition, it will compile strategies for improving the quality of domestic products and popularize effective quality management methods as well as experience among manufacturers in China. (ChinaOnline, 24 April)

Bank deposits, disposable income growing
Urban and rural residents made bank deposits of RMB 406 billion during the first quarter of 2001, RMB 92.4 billion more than the same period in 2000. During the first quarter, the per capita disposable income of urban residents was RMB 1'846, growing 4.7% compared with the same period last year. The average cash income for the farmers was RMB 636, increasing 4.8%. (ChinaOnline, 24 April)

Slowdown on power reform
Plans to open up China's tightly controlled power industry are likely to be scaled back from the sweeping market reforms originally proposed. The expected switch to more gradual reform follows California's deepening electricity crisis which has forced policy makers to change their thinking. The government is anxious to ensure that any moves to make the industry more competitive do not threaten the security of power supplies. (Business Weekly, 24 April)

High-income tax bracket set at RMB 60'000 per year
Residents of mainland China earning an annual income of RMB 60'000 or more belong to the high-income bracket, according to a standard established by Chinese tax experts. Individuals with these incomes are usually top officials or managers of enterprises and work units, technical professionals, lawyers, professional athletes, actors, private firm investors, scientific researchers or high-level executives at publicly traded companies. (ChinaOnline, 25 April)

Chinese timber import market becomes active
Along with the diversification of China's timber import market and the rising domestic demand for timber, the Chinese timber import market is very likely to become active again. Since launching a campaign to protect forests in 1998, China has reported a short supply of timber. As a result, many enterprises blindly imported large quantities of timber from Europe and Russia. However, a lack of market awareness on the part of the importers led to a slackening of the domestic market. (Xinhua, 25 April)

Chinese industry profits up
In the first quarter of 2001, Chinese industry earned RMB 85.41 billion in profit in total, up 46% over the same period last year, according the National Bureau of Statistics. State-run enterprises earned RMB 47.08 billion in profits, up 58%. (China News Service, 25 April) No bets taken on the reliability of these figures.

Influx of venture capital expected
China and other Asian countries can expect to see a larger amount of venture capital investment coming in from overseas starting this year. However, overseas venture capitalists are still very cautious about moving into the China market. One of the biggest problems preventing overseas venture capital firms from investing is that the country still lacks suitable market exit systems. Overseas venture capital firms are also worried about how they go about changing their profits from renminbi into hard currency. (China Daily, 25 April)

Guangdong graft investigators recover RMB 326 million
Guangdong corruption investigators had a busy start to the year, probing 540 cases involving 606 government and company officials in the first three months of 2001. In investigating 64 bribery and corruption cases involving officials at county-level departments or higher, the procuratorate recovered state assets valued at RMB 326 million. (SCMP, 26 April)

China pledges to lower taxes on products from 4 Asian countries
China is pledging to lower tariffs on 634 types of products imported from Sri Lanka, Bangladesh, India and South Korea-as part of the so called "Bangkok Agreement". The Bangkok Agreement is one of the oldest trade agreements in Asia. Established in 1975, it chiefly serves to lower the tariff on products such as various food items, leather products and apparel. Currently, six countries-Sri Lanka, Bangladesh, India, South Korea, China and the Lao People's Democratic Republic-are part of the agreement. (ChinaOnline, 26 April)

China's intellectual property rights reportedly infringed abroad
At least 3'000 Chinese patents have reportedly been lost overseas so far, said experts at an international symposium on the application and protection of property rights held recently in Beijing. China's intellectual property rights in Chinese medicine technology, petrochemical technology, biological and gene technology, and electronic information technology are especially susceptible to overseas infringement. (ChinaOnline, 26 April)

China's 1Q foreign trade increases 15.9%
China's foreign trade reached USD 113.8 billion in the first three months of 2001, up 15.9% from last year's first-quarter. China's exports increased 14.7% year to USD 59.27 billion, while imports surged 17.3% to USD 54.54 billion. Foreign-invested enterprises experienced rapid foreign-trade increases while state-owned enterprises registered only minor growth in foreign trade for the first quarter. FIEs generated USD 58.11 billion in import-export volume, up 21%. Exports by FIEs increased 25.1% and accounted for 50.4% of China's total exports. Imports of FIEs climbed 16.9%, accounting for 51.8% of China's total imports. China's export of machinery, electronics and coal saw rapid increases during the first quarter, while the export of garments and shoes rose slightly. (ChinaOnline, 26 April)

6.57 million workers laid off from SOEs
Mainland authorities reported 6.57 million workers laid off from state enterprises last year, 47'000 more than the previous year. Urban unemployment was 3.1%, and 35.4% of retrenched workers found new jobs, according a report released by the Ministry of Labour and Social Security. (China Central TV, 27 April) No bets taken on the reliability of these figures.

China's aviation industry to regroup
The Civil Aviation Administration of China unveiled a long-awaited plan to regroup the 10 airlines under its control into three groups. The restructuring is proposed to help the debt-plagued airline industry become more profitable. The three groups would be Air China, China Eastern Airlines and China Southern Airlines, and each of them would have assets worth at least RMB 50 billion. China now has 34 airlines operating about 520 planes. The airlines carried about 67 million passengers last year. (China Daily, 28 April)

Central bank plans for new gold exchange
People's Bank of China, China's top gold market regulator, said that the country will deregulate the market and will set up a gold exchange. It is rumoured that, given the status of Shanghai as the leading financial centre on the Chinese mainland, it is almost certain that the city will be chosen to house the new exchange. The launch of the exchange is likely to take place in the second half of this year. The country is the world's fourth biggest gold producer. (China Daily, 28 April)

Draft social security law to spur reform
China is drafting a social security law to help stitch together a social safety net and regulate the process. The new law would be ''the biggest legal step ever made covering medical insurance, pensions and unemployment benefits''. However, the law will only be ready in the next few years. China needs around USD 850 billion (80% of its 2000 GDP) to reform the pension system. The government is expected to announce limited sales of state assets to help finance its fledgling pension system. (Reuters, 28 April)

China ranks second in world in power generation
China's overall installed capacity of power stations totals 319 million kw, and the power generation capacity reaches 1.37 trillion kwh, both ranking second in the world. Over the next five years, China will connect most power grids across the country into an integrated whole. The State Power Company will invest RMB 600 billion in the next five years in the electricity industry, with 60% of the investment going into construction of power grids. (Xinhua, 29 April)