Shanghai port handles record cargo in 2001
Shanghai port handled a record 220 million tons of cargo in 2001, up 10% over a year ago. The port was visited by 11'520 container carriers over the past year, a rise of 141% over 2000. It handled 6.334 million containers in 2001, ranking the first in China, excluding Hong Kong, and fifth in the world. (People's Daily, 7 January)

Copyright pirates face heavier penalties
Tougher anti-piracy provisions have been approved to give more force to China's commitments under WTO copyright requirements. The changes target illegal copying of video and music CDs and will take effect next month, when provisions dating to 1994 will be rescinded. (SCMP, 7 January)

Companies' overall EPS forecast down 10% for 2001
China Communications Securities estimates that the earnings per share of domestically listed companies fell by around 10% overall in 2001 compared with the previous year. Per-share earnings suffered severe downward pressure in 2001 from a surge in the number of shares outstanding as well as a plunge in investment income. (Dow Jones Newswires, 7 January)

China's Jan-Nov state sector profit shrinks 1.6%
Profits achieved by China's state sector spiraled to a decline of 1.6% in January to November, less than a year after the sector posted profit growth of 141%. The squeeze comes little more than a year after China's policy makers trumpeted their success in meeting a three-year goal of ensuring a majority of the country's state-owned enterprises reported profits by the end of 2000. (Dow Jones Newswires, 7 January)

China to create four major telecom operators
China aims to create four major telecommunications operators within the next two years to ensure a fully competitive domestic market. China's policy makers have already approved plans to split China Telecom into two companies, merging part of the existing operations with rival carrier China Network Communications or Netcom. (Dow Jones Newswires, 7 January)

Bank sector reforms to lead conference agenda
China's leaders are expected to announce measures to accelerate reforms in the financial sector, in particular state-owned commercial banks, early next month during the second Central Financial Works Conference which will outline long-term financial policy. (SCMP, 8 January)

Compulsory labeling of genetically modified agro-products introduced
All genetically modified (GM) agricultural products on the government list whether locally produced or imported, are to be labeled from March 20. Those without labels or incorrectly labeled will be banned from importation or sale on the Chinese market. (Xinhua, 8 January)

China to speed up opening of travel service industry
Now that it is a full-fledged member of the WTO, China will speed up the opening of its travel service industry. China will allow big-name international travel agencies to entry the country so as to learn from their management and expertise. (Xinhua, 8 January)

China's export to increase by 4 times in 10 years: Morgan Stanley
A report published by Asian chief economist with Morgan Stanley points out that China's export will grow fast in 10 years in spite of a slump at present. In the coming ten years, China is expected to be capable to increase its export value by 4 times, up to USD 1'000 billion. (People's Daily, 9 January)

China begins drafting on anti-monopoly and anti-dumping rules
The State General Administration for Industry and Commerce is busy reviewing and amending existing rules to make them conform to the WTO regulations. Once these laws are formulated, an overall legal framework for market order and supervision is expected to take shape. (People's Daily, 9 January)

Private lender Minsheng sets growth pace
Unaudited net profit of China's only private bank Minsheng grew 60% last year, making it one of the fastest-growing banks in the country. As the smallest of China's three listed banks, Minsheng's focus on the high-growth private sector and its relatively lean structure helped it outperform its larger peers, especially state-owned rivals weighed down with huge amounts of non-performing loans. (SCMP, 9 January)

Index of consumer confidence on rise
The Chinese consumer confidence index rose to 97.1 points last December from the 96.9 points recorded in November, ending a successive four-month drop. The increase showed that consumers remain confident about the country's economical development. (Xinhua, 10 January)

Tourism revenue breaks record
Tourism revenue for the Chinese mainland was 9.76% higher last year than in 2000. Total revenue from domestic and overseas tourists is set to hit RMB 496 billion, including USD 17.5 billion contributed by international arrivals. (China Daily, 10 January)

Tax revenue of China in 2001 tops USD 182 billion
China's total tax revenue in 2001 reached RMB 1'517.2 billion, fulfilling the year's target by 113.1%. (People's Daily, 10 January)

Timetable to adjust home, foreign enterprise income tax not set
China has not yet set the specific timetable to adjust the domestic and foreign enterprise income tax. China will consolidate the income tax for domestic and foreign enterprises in line with the rules of the WTO. (People's Daily, 10 January)

China to host 2004 World Advertising Congress
The International Advertising Association (IAA) has decided to grant the hosting right of its 2004 world congress to its China branch. (People's Daily, 10 January)