CII Communique - February, 2010
CII Communique - February, 2010
CII Communique - February, 2010
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Africa<br />
South Africa<br />
The <strong>CII</strong> – India Business Forum, South<br />
Africa, met for the first time this year on<br />
29 January in Johannesburg, to welcome<br />
Mr. Vikram Doraiswami, the newly<br />
appointed Consul General of India, Johannesburg.<br />
Mr. Raman Dhawan, Chairman IBF-South Africa<br />
highlighted the progress of the IBF over the last two<br />
years, as a useful instrument to give a voice to Indian<br />
businesses in South Africa.<br />
The Consul General felt that IBF represented India Inc<br />
very well and would serve as a point of lobbying, collating<br />
East Asia<br />
China<br />
China became the world’s second largest economy in 2009,<br />
surpassing Japan. China raised its growth forecast for 2008<br />
to 9.6% from 9%, which took the total to over $4.6 trillion.<br />
China also became the world's top exporter in 2009.<br />
Urban-Rural Income Gap<br />
Per-capita disposable income of urban residents in China<br />
reached 17,175 yuan in 2009, up 8.8%, compared to<br />
5,153 yuan of rural residents. The income ratio between<br />
urban and rural residents in 2009 was 3.33:1, compared<br />
to 3.31:1 in 2008 and 2.56:1 in 1978.<br />
ODI set to top $42 billion<br />
China’s annual overseas direct investment (ODI) from<br />
non-financial sectors is expected to top $42 billion in<br />
2009. Non-financial ODI in the first nine months stood at<br />
US$32.87 billion, up 0.5% year on year. China reported<br />
$64.77 billion of business in overseas-contracted<br />
projects in January to November, up 37.5% from the<br />
corresponding period last year.<br />
Biggest Auto Market<br />
China overtook the US as the biggest auto market in<br />
2009 as car sales last year soared to 10.3 million and<br />
total vehicle sales are estimated at 13.6 million. This<br />
represents growth of about 45% from 2008. US sales<br />
and sharing information on trade and investment. He<br />
shared his thoughts on ways to strengthen the IBF<br />
platform in South Africa , and urged the Forum to take<br />
the India Brand forward.<br />
Raman Dhawan, Chairman-IBF, South Africa and Vikram Doraiswami,<br />
Consul General of India, at an interactive session in Johannesburg<br />
of cars and light trucks plunged 21% in 2009 to 10.4<br />
million. It was the first time any country bought more<br />
cars than Americans.<br />
Economic Indicators<br />
GDP<br />
Up 8.7% to 33.5353 trillion yuan<br />
($ 4.89 trillion)<br />
CPI Down 0.7%<br />
Retail sales Up 16.9%<br />
Industrial output Up 11%<br />
Fixed-asset investment Up 30.1%<br />
PPI (Dec 2009) Up 1.7%<br />
PPI Down 5.4%<br />
Premium income Up 13.8% to 1.11 trillion yuan<br />
($162.52 billion)<br />
SOEs growth 14.6%<br />
SOEs profit 797.72 billion yuan ($116.8<br />
billion)<br />
Forex reserves $2.4 trillion at the end of 2009<br />
China's fiscal revenue $1 trillion<br />
FDI<br />
Down 2.6% to $90.03 billion<br />
Foreign trade<br />
Down 13.9% to $2207.27 billion<br />
Exports<br />
Down 16.0% to $1201.66 billion<br />
Imports<br />
Down 11.2% to $1005.60 billion<br />
Trade surplus<br />
Down 34.2% to $ 196.06 billion<br />
Communiqué <strong>February</strong> <strong>2010</strong> | 53