China allocates 90.98 bln yuan for poverty alleviation -- China's central government has dispensed in advance part of its 2019 poverty alleviation fund to local governments, the Ministry of Finance (MOF) said on November 27. The poverty alleviation fund already allocated to 28 provinces, autonomous regions and municipalities totaled 90.98 billion yuan (about 13 billion U.S. dollars), accounting for 86 percent recorded last year, according to the MOF. Some 12 billion yuan of the fund will be used to support areas in deep poverty, including Tibet, Xinjiang, and parts of Sichuan, Yunnan, and Gansu provinces.
N. China's Shanxi announces 108 mixed-ownership reform projects worth RMB34 bln -- North China's Shanxi Province announced 108 mixed-ownership reform projects with a net value exceeding 34 billion yuan (about 4.89 billion U.S. dollars), at a press conference held on November 26 by the province's State-owned Assets Supervision and Administration Commission. Five large state-owned enterprises (SOE) are selected to carry out comprehensive shareholding system reform and introduce strategic investors and financial investors, which include Taiyuan Heavy Machinery Group Co., Ltd. (TZ), Shanxi Culture and Tourism Group and Shanxi Construction Investment Group.
Macao holds more than 300 meetings, exhibitions in Q3 -- A total of 311 meetings, conferences and exhibitions were held in China's Macao Special Administrative Region (SAR) in the third quarter this year, the SAR's statistics service said on November 26. Information from the Statistics and Census Service indicated that among those events, there were 283 meetings and conferences, as well as 19 exhibitions and nine incentives. The number of participants and attendees rose by 19.9 percent to 697,000. The overall average duration of the meetings and conferences went down by 0.1 day year-on-year to 1.4 days. The total floor area used dropped by 32.5 percent to 187,000 square meters. The overall average duration of the exhibitions was 3.3 days, down by 0.1 day year-on-year, and the total floor area used rose by 8.1 percent to 56,000 square meters.
Index report released to present poverty relief achievements in SW Chinese city -- China Economic Information Service (CEIS) of Xinhua News Agency and the Tongren Municipal Government of southwest China's Guizhou Province on November 28 jointly released the 2018 China-Tongren precise poverty alleviation index report in Beijing. The report, mainly in the form of quantitative index, gives an objective presentation of poverty relief achievements in Tongren, providing valuable reference for poverty alleviation work evaluation. The China-Tongren precise poverty alleviation index was 80.3 points in 2017, up 13.45 percent on year, according to the report, which shows a rapid rising trend since 2012 with the average annual growth standing at 31.09 percent. From 2012 to 2017, Tongren City lifted 1.1661 million people out of poverty, with poverty incidence dropping from 30.45 percent in 2012 to 8.41 percent in 2017. In 2018, four counties (districts) in Tongren, namely Bijiang, Wanshan, Jiangkou and Yuping, were lifted out of poverty, according to the report.
Tibet's major airport receives 4 million passengers this year -- Gonggar Airport in Lhasa, the capital city of Southwest China's Tibet autonomous region, has received a record 4 million passengers so far this year, local aviation authorities said on November 26. According to the Civil Aviation Administration of China (CAAC) Tibet office, passenger volume at Gonggar Airport, the largest airport in the region, exceeded 2 million in 2013, and 3 million in 2016. Tibet has seen fast development of its civil aviation industry thanks to the application of new technologies and improved business modes since the country's reform and opening-up four decades ago. Tibet now has 10 airlines operating a total of 81 routes, enabling convenient connections between Tibet and most of the major cities in China, according to CAAC.
China's strategic emerging industries contribute 20 pct of GDP growth -- The growth of China's strategic emerging industries drove nearly 20 percent of GDP growth annually over the past decade, according to an official on November 27. Announcing the figures at a forum, Cheng Xiaobo, president of the State Information Center, said strategic emerging industries offered significant support to stable economic development.
China's SOE profits keep steady growth in Jan-Oct -- Profits of China's state-owned enterprises (SOEs) maintained steady growth in the first 10 months of this year, official data showed. The combined SOEs' profits went up 17.3 percent year on year to 2.8 trillion yuan (about 400 billion U.S. dollars) in the Jan-Oct period, the Ministry of Finance (MOF) said Tuesday. The growth pace was largely stable, although slightly slower than the 19.1-percent rise registered in the first nine months.
China's catering revenue up 9.6 pct y-o-y in Jan-Oct -- China's catering revenue amounted to 3.38 trillion yuan in the first ten months of this year, an increase of 9.6 percent year on year, said Jiang Junxian, president of China Cuisine Association (CCA). Jiang made the above remarks while attending a press conference held by Ajisen(China) Holdings Limited (00538. HK) in east China's Shanghai on November 27. According to Jiang, the growth of China's catering market outstripped the growth of China's entire consumer goods market by 0.4 percentage point during the period,with the latter standing at 9.2 percent. (Edited by Gu Shanshan)
China's pension fund reaps 5.23 pct in investment return last year -- China has for the first time disclosed the annual return of its basic pension fund investment, the Economic Information Daily reported on November 27. Total return reached 8.78 billion yuan (about 1.2 billion U.S. dollars) last year, with an annual return rate of 5.23 percent, according to new data released by the National Council for Social Security Fund (NCSSF). This is the first time for the NCSSF to publicize its annual yield since local governments began entrusting the fund in December 2016 with running parts of their vast pool of pension assets for higher yields.
Electricity sales volume of China's power grid companies up 10.5 pct in Q1-Q3, CEC -- China's electricity power consumption stood at 5.11 trillion kilowatt hours from January to September, 8.9 percent higher than the last year, according to data released by the Department of Industrial Planning, Environment and Resources of China Electricity Council (CEC). The data also showed that sales of Chinese power grid companies were 4.19 trillion kilowatt hours during the first months of 2018, rising 10.5 percent form a year ago. Transaction volume of China's electricity power market reached 1.45 trillion kilowatt hours, accounting for 28.3 percent of China's total power consumption and 34.5 percent of power companies' sales, CEC reported.
China-Russia trade settlement by local currencies up 105 pct in Q3 -- The RMB and Russian Ruble (RUB) settlement in China's interbank market amounted to 4.9 billion yuan (about 706 million U.S. dollars) in the third quarter of 2018, up 105 percent over the same period last year, reported Russian news agency TASS on November 21, quoting Vladimir Danilov, head of the Central Bank of Russian Federation (CBRF) in China. Foreign trade contracts signed by Chinese enterprises have seen continuous increase in settlement in RMB and RUB in goods and service trade in 2017 and 2018, and CBRF will further support its Chinese partners in financial system liberalization and RMB integration, noted Danilov.
China's carbon trading transaction value exceeds 6 bln yuan -- China's carbon trading saw transaction values hit over 6 billion yuan (about 860 million U.S. dollars) since June 2013, with traded emission quotas exceeding 270 million tonnes, China's environment watchdog said Monday.
China's lottery sales up 12.2 pct in October -- China's lottery sales rose 12.2 percent year on year to 42.23 billion yuan (about 6 billion U.S. dollars) in October, official data showed. Sales of welfare lottery tickets went up 3.3 percent from a year ago to nearly 19 billion yuan, while sports lottery sales jumped 20.5 percent to about 23 billion yuan, the Ministry of Finance said in a statement. Under China's lottery management rules, money from lottery ticket sales covers administrative fees, public welfare projects and prize money.
China's PPP projects drive over 950 bln-USD investment in past 5 years -- Public private partnerships (PPP) signed in the past five years have driven 6.6 trillion yuan (about 952 billion U.S. dollars) of investment in China, the China Securities Journal reported. A total of 4,302 PPPs had been signed and implemented by the end of October, Jiao Xiaoping, head of the China Public Private Partnerships Center of the Ministry of Finance, was quoted by the newspaper as saying at a forum held in Shanghai on November 27. The projects covered various fields including urban engineering, public transportation and environmental protection, according to the newspaper.
China's Yunnan likely to transmit 130 billion kWh power to east regions in 2018 -- Southwest China's Yunnan Province is expected to transmit power of more than 130 billion kWh to east regions this year under China's west-east power transmission program, estimated Yunnan Power Grid Corporation. From the beginning of this year to the end of October, Yunnan Power Grid reported a power transmission of 122.398 billion kWh, an increase of 15.21 percent year on year, setting a record high.
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