Sina.com special section on China’s 改革开放三十年

Sina.com’s financial section recently has a special section on China’s 改革开放三十年.
It is a good read. Lots of information on China’s industries’, policy changes and development.
The special section is still ongoing.

link to 龙跃于渊 新浪财经改革开放三十年特别策划

Until today, it has 3 parts.
1. On agricultural industry
link

2. On heavy industry
link

3. On securities industry
link

Energy Information Administration (EIA) - International Energy Outlook 2008

Energy Information Administration (EIA) website is a great resource on energy-related industry.
EIA website

It has a lot of information on different types of energy sources:
petroleum
natural gas
electricity
coal
renewable & alternative fuels
nuclear

"Forecasts & Analyses", "Geography" are very useful too.

International Energy Outlook 2008 (published on September 2008)
link to International Energy Outlook 2008
PDF file:
PDF file

Economists’ blogs/websites

I find that many world renowned economists actually have blogs/websites.

Yeah ! A great way to learn from these economists, especially on current economic issues.

Besides Mr. Zhang Wuchang that I mention in my previous post,
below are some of the world renowned economists that have blogs or websites.

Gary Becker’s and Richard Posner’s blog:
blog

Nouriel Roubini’s blog:
blog

Paul Krugman’s blog:
blog

Joseph Stiglitz’s website:
website
His column in Project Syndicate:
link

Project Syndicate is also a website of treasure.

10-point plan by Ministry of Industry & IT (MIIT) of PRC China to boost internal needs

On previous post, we see that to boost internal needs, China has a 10-point plan to boost internal needs, mostly through different types of infrastructure building and policy on agriculture, taxation, credits.

Came across this complementary 10-point plan by "Ministry of Industry and Information Technology of the People’s Republic of China" (MIIT) (工业和信息化部) to boost China’s internal needs.
Link on MIIT

A good read. We can see which are the industries or industries’ aspects that the China government is going to promote/encourage. This one will be more on the industries.

Related aspects/industries (refer to website for details) in summary:
1. On factor of productions like energy, transport, commodity; also on import-export, pricing, taxation, credits
2. Some projects are mentioned: 钢铁基地、百万吨乙烯、百万吨钾肥、磷复肥基地
Wow.. million tonne !
3. Equipment industry
4. Communication, Integrated System industry
5. on SME funding, credit, risk
6. IT + Industrial integration; emphasis on 汽车电子、机床电子、医疗电子
7. TD-SCDMA, IMT-Advanced
8. Agriculture
9. Fashion/apparel industry
10. Quality of corporate internal management

How will it be implemented ? Will it be effective in boosting internal needs ?

Financial Stability Forum

On previous post about G20, one of the bodies mentioned are Financial Stability Forum.
website

Let's explore Financial Stability Forum today :-)

There are some publications by category:
capital flows
credit risk transfer
dealing with weak banks
deposit insurance
enhanced disclosure
highly leveraged institutions (HLIs)
implementation of standards
market and institutional resilience
offshore financial centres (OFCs)
ongoing work on sound financial systems
other

Members Institutions
link
We can find relevant bodies here. Lots of information..

Compendium of standards
link
This is cool ! The "12 key standards for sound financial systems" and its issuing bodies are eye-opener. Will the "New Financial Order" (if any) be following these standards (or its variations) ?

Changes on China export tax/rebate on goods

Taxes/rebates play an important part in whether sales or exports of goods are profitable and profit by how much. It can promote and break an industry/company especially if it is in its infant stage. This type of government policy changes make valuation more difficult and fair price less predictable.

China is going to change its export tax rebate on goods (again).

国务院关税税则委员会关于调整出口关税的通知:
website
Attached in the website are 2 PDF files showing details of the change, effective on 1 December, 2008.
Excerpt: (Refer to above 2 PDF files for details)
…
一、取消部分产品的出口关税或特别出口关税，主要包括冷热轧板材、带材、钢丝、大型型钢、合金钢材、焊管等钢材产品；硝酸铵、硫酸铵等化工产品；玉米、杂粮及其制粉等粮食产品，共计102项产品。
　　二、降低部分产品的出口关税，主要包括部分化肥及其原料、部分铝材以及小麦、大米及其制粉等，共计23项产品。降低氮肥、磷肥等及其部分原料的特别出口关税，共计31项产品。
　　三、调整尿素、磷酸一铵、磷酸二铵等化肥产品的淡季出口关税征收方式。调整粉末状天然石墨等3项产品的应税产品范围。
　　四、提高磷灰石和硅等5项产品的出口关税。
　　五、新增对部分产品征收出口关税，主要包括天然硫酸钡、非纯氧化镁、滑石、棕刚玉、四氧化三钴以及氟化物等，共计15项产品。
　　对出口至香港、澳门和台湾地区自用的原粮及其制粉，继续不征收出口关税。对我国对外无偿援助的粮食，免征出口关税。

website
Excerpt:
通知明确了3770项提高退税率的商品的具体范围，主要内容如下：将轮胎等部分橡胶制品、主体或全部以人工速生材为原料的部分林产品的退税率由5%提高到9%；将金属挤压用模等部分模具、玻璃器皿的退税率由5%提高到11%；将冻对虾仁、冻蟹等部分水产品的退税率由5%提高到13%；将箱包、鞋、帽、伞、家具、寝具、灯具、钟表等商品的退税率由11%提高到13%；将牙膏等部分化工产品、石材、铝板带等有色金属加工材等商品的退税率分别由5%、9%提高到11%、13%；将农用泵、摩托车、自行车、家用电器等部分机电产品的退税率分别由9%提高到11%，11%提高到13%，13%提高到14%。

Wow..3770 types of goods !

G20 Leaders Summit on Financial Markets and the World Economy

Found on website of "G20 Information Centre": the "Documents and Declarations G20 Leaders Summit on Financial Markets and the World Economy November 14-15, 2008, Washington DC" and other related documents.
Link

The "Declaration of the Summit on Financial Markets and the World Economy" is available inside.

It is a great read, particularly the "Common Principles for Reform of Financial Markets" and its more detailed "action plans" part.

Its timeline: Immediate Actions by March 31, 2009; Medium-term actions.
Its "common principles for reform":
1. Strengthening Transparency and Accountability
2. Enhancing Sound Regulation
3. Promoting Integrity in Financial Markets
4. Reinforcing International Cooperation
5. Reforming International Financial Institutions

There will be lots of new regulations and standardizations, in global scale, provided a consensus can be reached.

Some of the international bodies/"guidelines" etc. that are mentioned in the documents may worth a search or understanding to get a glimpse on the future "world financial order" will be (however, the list below is not exhaustive):

• IMF, World Bank and other multilateral development banks (MDBs)
• Financial Stability Forum (FSF)
• World Trade Organization (WTO)
• WTO's Doha Development Agenda
• Millennium Development Goals
• development principles agreed at the 2002 United Nations Conference on Financing for Development
• Financial Sector Assessment Program (FSAP)
• Credit Ratings Agencies
• Basel Committee
• Financial Action Task Force
• World Bank - UN Stolen Asset Recovery (StAR) Initiative
• Organization for Economic Cooperation and Development (OECD)
• Bretton Woods Institutions
  
  Other more general information on G20:
  website

list of good investment/business books

I always wish to compile a list of great investment/business books (at least those that I think are good) and encourage reading of those books. Better if it can be linked to online available book reviews, excerpt, content, pdf files etc..

It is again 80/20 rule: get the classics that really matters.. 20% of books covering 80% of important investment/business ideas.

Wonder whether there is an efficient/effective way of doing it.
I am trying to compile list of great investment/business books using Amazon’s "My favourites".
Will put the "My favourites" on the sidebar.
I may write some comments or blog entries in the future..

Tell me if there are other better ways.

Fiscal stimulus packages (1) - China

As there is a great possibility of recession spreads globally, many countries are having their own fiscal stimulus packages to encourage internal needs (since export will be harder) and promote economy growth.

I hope government will take this opportunity to really improve infrastructure (for examples utilities, transport, medical, education etc. ), especially for rural areas and set the stage to reduce poverty.

We can get useful information from the stimulus packages. Hopefully, we will have a glimpse of how government spending will trickle down and on what "pathway".

China’s 10-point fiscal stimulus package:
中国出台扩大内需促进经济增长十项措施
website

How big is the stimulus package ?
Excerpt:
到2010年底约需投资4万亿元。
今年四季度先增加安排中央投资1000亿元，
明年灾后重建基金提前安排200亿元，带动地方和社会投资，总规模达到4000亿元.

books summary (business, investment books included)

Many books are published. Coupled with busy life, we often don’t have enough time to read enough books to gain new insights.

Learning new knowledge, gaining new insights are important. One of the "7 habits of highly effective peoples" is "sharpen the saw".

Is there a way we can learn the important concepts of books without reading whole books ?
Is there a more efficient way of gaining new insights ?
(Much like 80/20 rule: e.g read 20% of a book to gain 80% of its insights)

A friend of mine once told me there is this website called Business Summary.
website
It is a great treasure of books summary, investment and business books included.

You may wish to check it out. Previously I got the trial account which enables me to read (and download !) summaries of books for 2 days. The website will occasionally send book summaries to email account.

It may be more helpful if we know before-hand which are the good books worth reading (meaning "classics").