SMM Selected News & Opinions: Premier Li Urges Capacity Control-Shanghai Metals Market

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SMM Selected News & Opinions: Premier Li Urges Capacity Control

SMM Insight 09:46:31AM May 16, 2013 Source:SMM

SHANGHAI, May 15 (SMM) –

News: 

MLR: Mineral Resource Planning Should Be Followed Strictly
The Ministry of Land & Resources will conduct an inspection in Q4 this year for the implementation of mineral resource planning.

Premier Li Urges Capacity Control
Premier Li Keqiang emphasized to tackle the severe overcapacity in China. Although no specific industries were reported, many sectors in China are facing excess capacity.

Premier Li: Accelerate Reform of Business Registration System
Premier Li Keqiang said reform of business registration system should be accelerated so as to help support SMEs

Data:

China Power Consumption Rises 6.8 pct in April
China’s electricity consumption increased 6.8 percent from a year earlier to 416.5 billion kilowatt-hours (kwh) in April.

Central Government Fiscal Revenue Growth Continue Slowing
Total fiscal revenue grew 6.1% YoY to RMB 1.14 trillion (183.66 billion U.S. dollars) in April according to the Ministry of Finance (MOF), but the central government's fiscal revenue dropped 2.2% YoY to RMB 535.7 billion.

Opinions:

CLSA: China’s overcapacity hit 4-fold of record high level

Japanese media: China’s labor costs up 60% from 2009, less attractive as production base

Li Daokui: 7% should be bottom line for China GDP growth, lower home price will harm national economy

 

SMM Selected News & Opinions: Premier Li Urges Capacity Control

SMM Insight 09:46:31AM May 16, 2013 Source:SMM

SHANGHAI, May 15 (SMM) –

News: 

MLR: Mineral Resource Planning Should Be Followed Strictly
The Ministry of Land & Resources will conduct an inspection in Q4 this year for the implementation of mineral resource planning.

Premier Li Urges Capacity Control
Premier Li Keqiang emphasized to tackle the severe overcapacity in China. Although no specific industries were reported, many sectors in China are facing excess capacity.

Premier Li: Accelerate Reform of Business Registration System
Premier Li Keqiang said reform of business registration system should be accelerated so as to help support SMEs

Data:

China Power Consumption Rises 6.8 pct in April
China’s electricity consumption increased 6.8 percent from a year earlier to 416.5 billion kilowatt-hours (kwh) in April.

Central Government Fiscal Revenue Growth Continue Slowing
Total fiscal revenue grew 6.1% YoY to RMB 1.14 trillion (183.66 billion U.S. dollars) in April according to the Ministry of Finance (MOF), but the central government's fiscal revenue dropped 2.2% YoY to RMB 535.7 billion.

Opinions:

CLSA: China’s overcapacity hit 4-fold of record high level

Japanese media: China’s labor costs up 60% from 2009, less attractive as production base

Li Daokui: 7% should be bottom line for China GDP growth, lower home price will harm national economy