China Digest

Economics and policy from China’s newspapers

Tuesday February 28, 2017

January trade surplus reached US$32.6 billion

The trade surplus in goods and services reached 225 billion yuan (US$32.6 billion) in January this year, Securities Daily reported Monday afternoon, citing information released by the State Administration of Foreign Exchange. It is a 45% decline from the 123.6 billion yuan in December last year.

US$262b on rural transport development

The country will invest 1.8 trillion yuan in building transport infrastructure in rural and impoverished areas as part of the 13th Five-Year Plan, Sina Finance reported on Monday afternoon, citing Li Xiaopeng, Director of the Ministry of Transport in a State Council press conference.

US$378.4b budget for transport infrastructure

The Ministry of Transport has budgeted a total of 2.6 trillion yuan for infrastructure on railways, highways and waterways, Sina Finance reported on Monday. Transport Minister Li Xiaopeng said the government aims to invest 800 billion yuan in rail construction, 1.65 trillion yuan in highways, and 150 billion yuan in water transport such as ferry services and piers in 2017. Total fixed assets investment in transportation construction reached 2.846 trillion yuan in 2016, the report added.

66 cities publish ride-sharing guidelines

Transport Minister Li Xiaopeng said 66 cities had published guidelines on cars involved in ride-sharing apps, with 127 cities seeking to do the same, Caixin reported on Monday. Li also announced support for the ride-sharing sector, including bicycles, the report said. This is a turnaround from the tough restrictions imposed on ride-sharing drivers in December last year in Beijing and Shanghai, generating heated debated.

Manufacturers, internet firms in pilot scheme

The Ministry of Industry and Information Technology is planning a 2017 pilot scheme for the manufacturing sector and online companies to show how the industries can work better together, Shanghai Securities Journal reported on Monday. The two- year scheme will include blending manufacturing and e-commerce, big data and injecting cyber benefits into manufacturing systems, the report said.

Shandong vice-governor is national grain bureau chief

A veteran Shandong official has been promoted to chairman of the State Administration of Grains and will become a party member of the National Development and Reform Commission, Caixin said on Monday, Zhang Wufeng, the vice governor of Shandong, has been working in the province since 1997, the report added.