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Last updated at: (Beijing Time) Monday, April 05, 2004

Biz weekly highlights Mar.29 --- Apr. 2 Small potatoes, big market

For a country with a very big population, agriculture has always played an important role in China. Self-supporting has long been a tradition in the Chinese society. But in the times of openness when everything is a part of the globalization surge, exchanges are taking the place of self-supporting even in agriculture.


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For a country with a very big population, agriculture has always played an important role in China. Self-supporting has long been a tradition in the Chinese society. But in the times of openness when everything is a part of the globalization surge, exchanges are taking the place of self-supporting even in agriculture.

Potatoes are quite popular on dinner tables of Chinese families. They are cheap and delicious. They are small. But the market is big. As a large potato producer (actually the second largest in the world), China needs to promote its potato processing and consumption as well. Grow potatoes, grow health and grow income. Insiders from around the world say. World potato congress in SW China results in fruitful trade, cooperation

Agricultural trade between the China and EU is complementary to each other. China can export more garlic and mushrooms to EU countries. Detailed arrangements are subject to further talks. EU plans new quotas for China

Invitation from Asia
Boao Forum has set its tone for this year's event: win-win solutions. The Forum is encouraging more participation from around the world beyond Asia. Boao Forum to seek economic co-op in Asia

Catching up
China is catching up the world in the front of IT industry. Datang Mobilecom debuted China's first 3G mobile. China makes its first 3G mobile phone

It is a tech-heavy sector. But technology is not the only reason for customers to spend. Successful promotion carries weight. CDMA services pushed the profits of China Unicom in 2003 higher than the previous year. China Unicom reports 31.2 percent rise in operating revenue

The government is also making efforts. China will spend more on IT industry. China's IT investment to reach 40 billion yuan

Fly to each other
China made jets are flying to the global market. The ticket is the Federal Aviation Administration. China's ARJ21 regional jet eyes global market

Boeing's planes are equipped with Chinese products and will have more. Boeing hopes to become a more localized company brand in China

Small jets have great potential as short-distance travelers choosing to take planes are increasing and the west China market is there to tap. However, Chinese passengers generally believe big planes are safer. Brazilian aircraft manufacturer eyes Chinese small plane market

Team up to explore energy
Asian countries are seeking broader cooperation on dealing with the challenge of meeting fast growth of energy demand. First ASEAN+3 natural gas forum held in Shanghai

China's energy market will basically keep balance in 2004, a report by the Ministry of Commerce shows. Demand will still be robust. Supply shortage in some areas will continue. A balanced energy supply-demand market for China in 2004: report

Fears for oil supply shortage pushed the oil prices in international market higher and that in turn buoyed the oil prices in China Diesel prices remained unchanged. Oil prices follow global market rises

Chinese ambassador sensed more potential for Sino-Russian trade as he urged the business circles in the two countries to intensify their trade exchanges. It will be a perfect match if oil-hunger China and oil-rich Russia joint hands. Yakutia has expressed its willingness to invite China to invest in its oil projects. Russia welcomes China to participate in East Serbia oil developmentAmbassador wants Sino-Russian trade to top US$100bln

Shanghai will re-open the fuel oil futures market in a few months. Launch of some agricultural products is still waiting for approval. Futures market is relatively less active and open compared with other markets in China. But as the demand is rising, brisk transactions and products innovation are encouraged. The key is deregulation and fair orderly environment.China approves resumption of fuel oil futures

Pump-in, for our common interests
Not an observer, but a shareholder. That's the role China has been expecting to play in the Inter-American Development Bank. Now the chance comes. China is investing heavily in Latin America especially in resources. China petitioning for stake in IDB

Chinese and foreign banks are building more partnership to march toward their bold ambitions. For Chinese banks, their efforts are mostly concentrated on writing off bad loans. And in the case of foreign counterparts, they are striving for more shares. Financial group plans further biz expansion ICBC inks credit cards deal with Amex logo

The capital market will receive a 1 billion yuan pump-in. Chinese technology firm to issue corporate bond

Foreign fund managements are launching new joint ventures and new products in China. Chinese investors still need to diversify their financial management means besides bank deposits. Will they find these financial products more attractive than bank savings? Mutual fund sector draws foreign firms

The Sompo Insurance from Japan opened an office in Suzhou. Japanese insurance company expands businesses in China

It's recreation, it's business
Enjoy digital cable TV at home. It is a contribution to the information industry and a boost to the economy. China to promote digital cable TV

The draft of the movie promotion law will be issued in May for suggestions. Copyright, market access, and industrial management are also on the agenda. New rule issued to bolster movie industry

It's the most significant sports event in the world. But a business can also be a winner in this sports extravaganza, if you can provide right services to it. Beijing 2008 Olympic Games to bring US$16b business

On the wheel
Heavy duty trucks become very popular in the Chinese market. International auto giants, especially Volvo, has noticed this and are busy signing contracts with their Chinese partners to expand production. JV plans diesel engine production

The release of the new policy governing the auto sector has a new timetable: in 3 months. Voices for deregulation are getting louder. New policy on auto sector 'ready in 3 months'

Based in China
Some world's top businesses began to build the world's top production facilities for two chemical products in China.World's largest MDI, TDI project starts construction in Shanghai

Crocodile will land in Shanghai and is building its home there. It shows a bigger appetite for the Chinese market than before. Crocodile to bite into mainland market

China's action up to WTO
With trade exchanges between China and its big trade partners more and more closer, disputes are also rising. While China is facing more anti-dumping cases, it is also launching such cases. Anti-dumping investigation against imported Kraft board started

Technical standards found not in line with WTO rules will be wiped out this year.Technical standards updated to suit WTO

By People's Daily Online Lijia


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