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China's automobile industry developed rapidly in 2007. Auto production kept increasing, reaching nearly 9 million, up 22.6% over 2006.
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In 2007, China's development of agricultural mechanization entered the intermediate stage from the initial stage, indicating that China's agricultural mechanization has entered a new historical phase.
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Japanese economy grew at 4% in the March quarter. That's faster than previously reported, but analysts in Tokyo continue to point out that unreliable Japanese economic statistics make it hard to know what the real situation is. But they do know that oil and fuel costs are rising, as are food costs and inflation generally, while the slowdown in the US and European economies has cut growth in exports in the past six months.
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It's not a reply to the weekend surge in oil prices, but China's latest directive telling lenders to set aside more money to cut bank lending is probably the most effective move it can make, seeing it seems to be baulking at freeing up all commodity prices and won't lift interest rates.
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Fitch Ratings commented that global economic conditions are likely to be characterised by weaker growth and higher inflation for the remainder of the year. However, years of very benign economic conditions have generally enabled Asian banks to strengthen their balance sheets in terms of loans quality and capitalisation, which should hold them in good stead for the more challenging economic environment as the US and some European economies slow.
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The Conference Board reports that the leading index for Japan decreased 0.2 percent and the coincident index increased 0.3 percent in April.
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Xinhua Finance (TSE Mothers: 9399) and Market News International (MNI), a part of the news service line of Xinhua Finance, today announced the May Xinhua Finance/MNI China Business Sentiment Survey.
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Unit shipments into Asia Pacific (ex-Japan) are expected to rise from 485 million units in 2008 to 684 million units in 2011.
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Chinese business sentiment continued to deteriorate this month, despite a pick-up in the headline index, as rising costs and restrictions on credit availability took their toll, the results of the latest Xinhua Finance/MNI China Business Sentiment Survey suggest.


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Xinhua Finance eziData China Consumer Confidence Index (CCCI) was updated today, with the survey results showing that Chinese consumer confidence in May remained unchanged from that in April at 94.9, despite of the serious earthquake disaster which happened in Wenchuan, Sichuan province earlier in the month.
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