Asia Economic Weekly
亚洲经济周报
Issue No. 10
（2013.03.08-2013.03.15）
Highlights: In the round of China’s new pattern urbanization, we have to confront the
problem of reasonable overall arrangement in the cities. There’re existed many
disputes on which model we should choose in the future development of cities, the big
cities, small and medium-size cities or small towns. From the current analysis on
different factors, we find the main platform of China’s urbanization would be super-city
clusters in the future to achieve reasonable layout of China’s cities.
Research and Training Institute
Boao Forum for Asia
博鳌亚洲论坛研究院
1
【Weekly Review】
Experts of National Development and Reform Commission: City
clusters will be the important platform of China’s urbanization
In the round of China’s new pattern urbanization, we have to
confront the problem of reasonable overall arrangement in the cities.
There’re existed many disputes on which model we should choose in
the future development of cities, the big cities, small and
medium-size cities or small towns. From the current analysis on
different factors, we find the main platform of China’s urbanization
would be super-city clusters in the future to achieve reasonable
layout of China’s cities.
【Economic Developments】
OECD: Economic growth of ASEAN keeps strong while it slow
down in China Economic Co-operation and Development (OECD)
released the latest Asian Business Cycle Indicators (ABCIs) on
March 11, London time, said that although the global economy
shows uncertainty, the ASEAN economy keeps resilient. Meanwhile,
the economic growth of China and India slows down.
China: February scale of social financing amounted to 1.07
trillion yuan
China: New foreign exchange registered 683.59 billion yuan in
January with an annual increase According to data released by
China central bank on Mar.5th, new foreign exchange of Chinese
financial institutions registered 683.659 billion yuan, climbing for
two consecutive months.
2
China: February CPI up 3.2 percent on year, jumped to a
ten-month high Data from China's National Bureau of Statistics
showed the consumer price index rose 3.2 percent in February from
a year ago, the highest level in ten months, gained 1.2 percentage
points from January. On a month-on-month basis, February's
consumer price index (CPI) up 1.1 percent, gained 0.1 percentage
points from the previous month.
Japan: Haruhiko Kuroda says Bank of Japan will consider
buying derivatives Bank of Japan governor nominee Haruhiko
Kuroda said that the central bank will consider buying derivatives if
he’s confirmed as governor and signaled a readiness for a quick
expansion in monetary stimulus.
Japan: BOJ for the first time upgrade the assessment for the
third consecutive month Bank of Japan upgraded its assessment of
Japan economy for the first time since the end of 2009, for the third
consecutive month. More and more signs shows Japan’s economy
has recovered from the brief recession.
Japan: Final last quarter GDP shows Japan’s economy has
gradually recovering from recession
Japan: February service sector sentiment rose for four
consecutive months
Japan: Posts record current account deficit in January for three
consecutive months
3
South Korea: Excessive-priced housing cause young people put
off marriage, the market grounds to a halt The real estate market
of South Korea is heading down. Influenced by the world financial
crisis in 2008, the market is almost stagnant.
Singapore: Predict average economic growth in next decade
would slow to half of last decade
Australia: GDP increased 3.1 percent last quarter on yearly
basis The data released by the Australian Bureau of Statistic showed
that the gross domestic product (GDP) in Australia expanded to 0.6
percent in the fourth quarter of 2012 over the previous quarter, up
3.1 percent year-on-year, rose for the seventh consecutive quarter.
Australia: January budget deficit widened to $ 1.09 billion
Russia: Russia’s state foreign debt substantial increased by 41.8
percent According to data released by Russian Finance Ministry on
Mar.11th, the state foreign debt sharply increased by 41.8 percent.
The State Customs Committee of the Russian Federation: Trade
surplus drops 14.5 percent in January
U.S.: Unemployment rate edged down to 7.7 percent in February
and the lowest level in four years Data from the Labor Department
reported on Mar. 8th showed that the unemployment rate of
non-agricultural sectors drops to 7.7 percent, the lowest level in four
years.
4
U.S.: Household wealth increased by 9 percent last year to the
highest level in five years The Federal Reserve reported a few days
ago that U.S. household’s net worth rose by $1.17 trillion in the
fourth quarter to the highest level since the end of 2007, propelled by
a gain in increasing home prices and stock holdings boosted
household balance sheets.
【Trade & Investment】
Japan: Plans to promote wind power through offshore wind
turbines
Japan: Extracted for the first time gas from "combustible"
ocean ice
Thailand: Start to impose provisional security tax of imported
chromed steel plate
Indian Ambassador to China: Boost the share of manufacturing,
welcome Chinese investment Dr. S Jaishankar, India’s ambassador
attended the China-India Investment Forum in Beijing on Feb.27th
and he said Indian government plans to increase the share of
manufacturing in domestic economy and stressed that the country
would welcome Chinese investment.
Myanmar: Plans to put over 20 oil and gas exploration blocks up
for attracting foreign investment by April Myanmar Oil & Gas
Upstream Summit was held in Yangon on Mar. 4. The official said
Myanmar plans to put over 20 offshore oil and gas exploration
blocks up for auction by April to attract foreign investment and
expertise to help overhaul the management of oil and gas resource.
5
Official of Indonesia Ministry of Commerce: Non oil and gas
products sold in China will rise 10 percent
【Regional Cooperation】
Double a currency swap agreement between China and
Singapore: To 300 billion yuan
China: Zhejiang Export Commodities Fair will be held in
Vietnam in May
China: Boycott to Japanese goods being weaken, Japanese cars
sale recover Although the boycott to Japanese goods has been
weakened, Japanese firms still face many challenges.
Thailand: To invest $ 67.3 billion in transport facilities, 80% for
railway Officials of Department of Land Transportation said on
Mar.11 that the government will boost and improve the transport
system, aimed to build modern transport facilities as high-speed
train.
Philippines: Hope to have each year 1 million Chinese tourists to
the Philippines by 2016
【Authoritative Forecasts】
World Bank: Africa’s agricultural production set to top $ 1
trillion by 2030
6
Asian Development Bank report: Economies are increasingly
integrated within Asia over the past decade A report released by
ADB said because of the growing trade and tourism, the number of
Asian free trade agreements has increased from 70 in 2002 to 257 by
January 2013, over triple in the past decade.
Shanghai International Shipping Institute: 2013 growth of Asian
ports throughput may return to more than 7 percent According
to 2012 Global Port Development Report (hereinafter referred to
as ’report’) released by Shanghai International Shipping Institute on
Mar. 5, hopefully the global port industries will accelerate the
coming of recovery, even the growth of Asian ports throughput may
regains more than 7 percent.
Japan Venture Capital Association (JVCA): Number of IPO may
rise by two-thirds to 80 this year
Morgan Stanley: Price of iron ore has peaked, may decline 15
percent by the end of 2013 Morgan Stanley has reported that the
price of iron ore would decline this year with increasing supplies and
diminishing demand. Report expects the price may falls to $133 a
ton from $159 a ton over 2013, dropped 15 percent.
Grant Thornton International: Above-average percentage of
women in Singapore in senior management roles
Heavy Reading: Global mobile payment transactions may hit
$1tr by 2015 According to the latest report released by Heavy
Reading, mobile payments continues to grow to provide solutions of
income generation for the whole markets and the global mobile
payment industry may hit $1 trillion by 2015.
7