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To: Groundhog who wrote (8287)	12/6/1998 8:49:00 PM
From: pat mudge	Respond to of 18016

News from China: <<<< Telecom equipment sees surge in import volume Date: 12/06/98 Author: Li Sheng Page: 6 GUANGZHOU _ South China's Guangdong Province, a pioneer in the country's telecommunications development, has witnessed a surge in imports of telecommunications facilities and equipment this year. Total imports of such devices were worth US$760 million in the 10 months, soaring 35.6 per cent from the total in 1997, the report said. You Qing'ai, a Guangdong Customs Administration (GDCA) official, said the momentum is expected to be maintained in the remaining months of this year as well as in the foreseeable future. The official attributed the boom of such imports to the rapidly intensifying market demand for advanced telecommunications facilities and equipment as well as to the GDCA's effective measures and ceaseless efforts to frustrate smuggling. The General Administration of Customs has joined hands with the Ministry of Information Industry since June to strengthen supervision and management of imports of mobile telecommunications equipment. The report said that imports of telecommunications facilities and equipment through general trade were worth US$130 million from July to October, rising 77.1 per cent from the same period in 1997. And imports through processing trade were worth US$82.68 million from July to October, up 6.2 per cent. GDCA's data suggest that imports through leasing trade and for foreign-funded enterprises both skyrocketed in the July-October period. Imports through leasing trade were worth US$140 million, as compared with US$570,000 in the same period in 1997, while imports of such equipment for foreign-funded enterprises were worth US$89.57 million, 2.6 times as much as in the same period last year. The report says imports of spare parts for telecommunications facilities and equipment dropped 23.9 per cent from a year ago to 2,220 tons in the July-October period, with the average price falling 37 per cent to US$12.1 per kilogram. >>>> >>>> Beijing beats crisis to draw more foreign investment Date: 12/06/98 Author: Zhao Shaoqin Page: 5 The first 10 months this year witnessed a sustained increase of foreign funds flowing into Beijing, despite the lingering negative effects of the Asian financial turmoil. Between January and October, actually utilized foreign investment in the capital amounted to US$2.32 billion, an increase of 8.2 per cent on a year-on-year basis, said Zhang Xueque, spokesman for the Beijing Municipal Foreign Economic Relations and Trade Commission. Foreign direct investment rose by 44 per cent to US$1.72 billion, Zhang said. Contractual foreign investment had recovered from last year's doldrums, increasing 34 per cent to US$1.77 billion, he said. Beijing approved 62 big projects with over US$10 million in foreign investment each in the first 10 months this year, an increase of 10.7 per cent over 1997. Average foreign capital per project in Beijing climbed by 79 per cent to US$3.27 million. Investment from multinationals maintained its momentum, with 47 new projects launched in the first half of this year, promising US$380 million in foreign investment. Zhang said statistics also indicate foreign investors expanded their investment range into more high-tech industry and service sectors. Some 201 foreign firms established in the high-tech sector accounted for 71.5 per cent of newly approved industrial projects. Foreign investors have promised to pour US$860 million into the city's service sector, accounting for 48.5 per cent of Beijing's total contractual overseas capital. A total of 170 foreign wholly-owned enterprises was approved in the first 10 months of this year, with contractual foreign capital of US$790 million. Among different regions and countries, the United States has become a particularly generous investor in Beijing. Between January and October, US$300 million in investment from the United States was approved, triple that country's commitment in the corresponding period in 1997. Investment from Europe soared 51.6 per cent to US$470 million. Zhang said foreign-funded firms have played a key role in promoting the local economy. In the first 10 months, 5,174 foreign-funded enterprises went into operation, increasing 4.4 per cent from the same period last year. By the end of October, foreign-funded enterprises employed 396,000 people, an increase of 2.6 per cent. Their industrial output in the first 10 months reached 42.94 billion yuan (US$5.17 billion).

To: Groundhog who wrote (8287)	12/6/1998 11:26:00 PM
From: Dennis R. Duke	Read Replies (1) \| Respond to of 18016

Let' see if this jumps right to the heart of the matter that our winter forecasting friend was getting to: investor.msn.com Go down about 2/3rds of the page. I like what I see, (-8 Dennis 8-)