China Economic Watch: Iron Ore Imports, Machinery Revenue, Foreign Retailer Expansion

China's iron ore imports will grow 6% this year, predicted Xu Xu, director of the China Chamber of Commerce of Metals Minerals & Chemicals Importers & Exporters. Xu also forecasted the nation's steel output to reach 670 million tons in 2011.

Source:
http://www.caijing.com.cn/2011-03-17/110668336.html

UBS Securities has lowered its forecast for China's GDP growth in 2011 to 9.3% from 9.6% due to rising oil prices that would disrupt the export sector.
Source: http://www.caijing.com.cn/2011-03-17/110668261.html

Revenue of China's engineering and machinery industry is expected to have totaled ¥400 billion in 2010 and to be ¥900 billion by 2015, predicted industry experts.
Source: http://www.yicai.com/news/2011/03/708442.html

Yuan-denominated new loans in Shenzhen rose 14.37% year on year to ¥13.42 billion in February, said the central bank.
Source: http://www.21cbh.com/HTML/2011-3-17/0MMDAwMDIyNzE0Mw.html

7-Eleven said it plans to open 50 stores in Sichuan provincial capital Chengdu this year.
Source: http://company.nbd.com.cn/newshtml/20110316/20110316012937901.html

British retailer Tesco has signed a deal to open its fourth supermarket in Anhui provincial capital Hefei.
Source: http://www.linkshop.com.cn/web/archives/2011/157181.shtml

$1 = ¥6.57