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Donnerstag, 31. Mai 2018, 09:39

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BEIJING Jose
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, April 27 (Xinhua) -- China's major
industrial firmscontinued to post double-digit growth in profits in March,
addingto signs of a stabilizing Chinese economy, official data showedThursday.

The companies reported a 23.8-percent year-on-year profit growthlast month,
slowing from 31.5 percent in January and February butstill much faster than the
8.5-percent increase in 2016, accordingto the National Bureau of Statistics
(NBS).

In the first three months of the year, profits of majorindustrial firms rose
28.3 percent year on year, the NBS said in astatement.

The profit growth was supported by rising commodity
prices Jefferson
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,improved demand and expectations, as well as higher
productivity,according to an analysis note from China Merchants Securities(CMS).

In the first quarter of 2017, major industrial firms saw profitmargins of
their primary business edge up 0.68 percentage points to6.13 percent.

It was the first time the profit margin climbed above 6 percentsince 2014,
reflecting a better industrial structure and increasedefficiency, the CMS said.

Meanwhile, the companies' debt-asset ratio dropped 0.7percentage points to
56.2 percent.

NBS statistician He Ping noted the profit growth in March was ofhigher
quality James
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, as consumer product and equipment
manufacturingaccounted for a larger share of all newly-generated profits than
inthe January-February period, while the share of mining and rawmaterial
industries fell.

The manufacturing industry reaped 1.49 trillion yuan (216.2billion U.S.
dollars) of profits in the first three months,accounting for 87.5 percent of
overall industrial profits, and up23.4 percent year on year.

The industrial sector, which accounts for about a third ofChina's GDP,
started to pick up last year after profit declines in2015, helped by government
efforts to cut overcapacity and arecovery in the property market.

Value-added industrial output expanded 6.8 percent year-on-yearin the first
three
months Giovanni
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, accelerating from 6.3 percent in Januaryand
February, and 6 percent in 2016.

"The sector was off to a good start in the first quarter, withsome
indicators, industries and regions performing better thanexpected," Zheng Lixin,
spokesperson of the Ministry of Industryand Information Technology, said
Wednesday.

The upbeat profit data came after a slew of other indicatorssuggesting
improvement in the Chinese economy.

The country's manufacturing purchasing managers' index (PMI)came in at 51.8
in
March Frank
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, higher than the 51.6 recorded in Februaryand
staying above the boom-bust mark for the eighth month in arow.

Unemployment fell 0.05 percentage points to 3.97 percent at theend of March
from three months earlier, as more new jobs werecreated.

However, as commodity prices retreat, upstream industries maylose steam and
drag down the overall industrial profit growth infuture, the CMS said.

"Coal, oil and steel industries already posted slower profitincreases in
March," said
He Felipe
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, who also warned of pressure fromrising costs and
financial expenses.

The annual industrial profit growth for this year will moderateto 15-20
percent, the CMS said.

China's GDP expanded 6.9 percent year on year in the firstquarter, up from
the 6.8-percent growth in the previous quarter and6.7 percent in 2016.

It also beat previous market expectations of 6.8 percent andcame well above
the annual growth target of around 6.5 percent.Enditem

BEIJING, July 1 (Xinhua) -- At 39, Xujiahe Village Party chief Xu Biwei has
found himself in a job that does not pay. He's a loan facilitator.

But apparently he is good at what he does. In 2013 the village secured more
than 4.6 million yuan (about 740,160 U.S. dollars), a three-fold increase from
the year
before Farid
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, in loans thanks to Xu.

The figure is impressive, especially taking into account the huge financial
vacuum in rural China, where banks are few despite a large population that need
funds for their crops and families.

China's collective land-ownership system is a major constraint on farm
borrowing and investment. Farmland cannot be bought or sold, leaving farmers
with little collateral to secure long-term loans.

Banks and credit cooperatives, meanwhile, also complain about higher risks of
default in rural areas, due to a lack of personnel to review applicants'
portfolios.

That is where Xu comes in.

In a
way Edwin
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, the Communist Party of China (CPC) village chief
in central China's Hubei Province works like an independent international rating
agency. He assigns credit ratings of fellow villagers, assessing their
capabilities to pay back debts and the likelihood of default.

"Nobody else knows my fellow villagers better than me and my colleagues, and
the credit cooperatives trust us as well," said Xu.

Villagers looking for loans come to the village committee and the grassroot
party committee, which will vouch for the villagers they deem fit, and negotiate
with credit cooperatives the type of loans they can receive, he said.

The practice has helped fast-track the loan application process.

One of Xu's "clients" Xu Qinghua (the two Xus are not
related) Eder
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, a pig breeder in Xujiahe Village,
obtained a 200,000 yuan loan last year. The whole process took only two days,
whereas previously the application could drag on for months and the maximum loan
was only 50,000 yuan.

According to Zhou Weidong, head of the rural commercial bank in Hong'an
County, not one debtor has defaulted on interest payments since the program was
launched in 2013.

"Grassroot Party committees are indispensable in helping improve rural
financial
services Duvan
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," said Xu Biwei.

Xujiahe is not an isolated case, as other villages are helping farmers get
their hands on vital access to loans.

Qin Hanfeng, deputy head of Hubei's banking regulatory authority, said by the
end of March, more than 3,000 grassroot Party organizations in
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