More Think Prices Will Rise in Q3
According to a quarterly survey by the People's Bank of China, the nation's central bank, 36.5% of bank depositors predict food prices will go up in Q3, up 4.2 percentage points from the previous survey; and 32.4% of bankers expect further monetary policy loosening in Q3, up 25.7% from the previous survey.
More Strategic Industries Open to Private Sector
The Ministry of Land and Resources said it welcomes the private sector to invest in land management as well as mining, surveying and prospecting. Separately, the State Electricity Regulatory Commission published similar documents that encourage private capital to invest in power generation and offer proposals for electricity pricing.
Conditions Worsen for Small Businesses
The index for growth of China's small and midsized businesses was 96.91 in 2011, according to a joint report released by Bank of Communications and Fudan University. A reading below 100 indicates a shrinking market. The software and IT industry suffered shortages of qualified professionals and rising labor costs, and the retail sector was hamstrung by burgeoning logistics expenses and financing difficulties. Meanwhile, the pharmaceutical and furniture manufacturing industries were on the rise after being heavily subsidized by the government, the report added.
$1 = ¥6.36