Economy

China Eastern Partners with Disney

China Eastern Airlines Corp Ltd and Disney Destinations International signed a memorandum of understanding on January 24 to promote their respective businesses in Chinas tourism market.

The cooperation will focus on three key areas： developing holiday packages that include Disney Destinations； conducting co-branded marketing and promotional activities； and leveraging distribution channels for popular Disney products and services， said Aliana Ho， vice president of Walt Disney Co.，（Asia-Pacific） Ltd Regional Sales and Travel Operations.

Latest data from the United Nations World Tourism Organization show that China was the largest outbound tourism market for the second consecutive year， having outstripped Germany in 2012， with 98.2 million person-trips in 2013.

Private Investors Encouraged to Start Rural Commercial Banks

The central government is stepping up innovations of rural financial systems in efforts to bolster financial services in rural areas. They include encouraging private investors to establish small and medium-sized banks at the county level that serve local agricultural development and farmers.

Data from China Banking Regulatory Commission（CBRC） show that at the end of 2013 there were 468 rural commercial banks， 122 rural cooperative banks， 1，803 rural credit cooperatives， and 1，071 town/village banks across China. Also that the total share of private capital in small and medium-sized rural financial institutions had risen to 90 percent.

According to the CBRC， China encourages private investors to participate in restructuring of high-risk financial institutions in a bid to steadily increase their shares in these institutions and create a favorable environment for private investment.

Meanwhile， China will unswervingly bring the localization strategy into effect by giving preference to local quality enterprises and farms that start small and mediumsized rural financial institutions. This will upgrade local shares and improve the operation mechanism of corporate governance in these financial institutions. China is attempting to establish through these innovations a professional commercial mode for small and mediumsized rural financial institutions and so better serve Chinas rural residents and agricultural development.

20 Million

Statistics from the China Association of Automobile Manufacturers show that China produced 22.1168 million cars in 2013 – a 14.8 percent year-on-year growth -- and sold 21.9841 million – a 13.9 percent year-on-year growth. Having topped the 20 million mark， Chinas auto output and sales set new domestic and international records， so consolidating the world number one position it has held for five successive years.

Low Urban Unemployment in 2013

Statistics from Chinas Ministry of Human Resources and Social Security show that new employment in urban areas grew steadily in 2013 through the creation of 13.1 million new jobs — 440，000 more than in 2012. Also that 5.66 million people who had lost their jobs were re-employed. Chinas 2013 urban registered unemployment thus stayed at a low level— around 4.1 percent.

In its monitoring of 100 cities the Ministry found that the labor supply and demand largely regained equilibrium last year， with the ratio of applicants to vacant positions within the one-to-two range. This signifies continuation of the fundamentally balanced market situation where supply slightly exceeds demand.

College graduate employment has also remained stable， mainly due to the execution by education authorities of an employment promotion plan that creates internships and provides more vocational training. Chinas 2013 college graduate employment rate was basically on a par with the 2012 level.

Ten Key Tasks to Cut Energy Consumption

The National Energy Administration proposed in January four major objectives for Chinas energy industries in 2014. They are： improving energy efficiency， optimizing energy structure， increasing energy production capacity， and controlling energy consumption.

The administration， in light of these objectives， listed 10 key tasks in 2014. They include： transforming the energy consumption pattern and curbing rapid increases in energy consumption； ratcheting up air pollution prevention efforts and optimizing energy consumption structure； developing clean energies and promoting green development of energy industries； speeding up development of petroleum and gas resources and enhancing Chinas energy security； optimizing the layout of energy industries and advancing conglomeration of coal and coal power production bases； adding impetus to energy-related science and technology innovations by launching major projects； deepening international cooperation on energy and expanding the scope of Chinas energy development； accelerating construction of energy projects closely related to peoples livelihood and improving energy services； pushing forward reforms of energy industries and intensifying supervision of energy markets； bettering administration of energy industries； and improving the work style and functions of relevant authorities.