Business China: Roundup, July 20

Taiwan tourism boost

Tourists from the Chinese mainland poured $764 million into Taiwan's economy last year, as ties rapidly improve between the mainland and the island, the Taiwan-based China Times reported Saturday.

Some 370,000 mainland tourists visited Taiwan since July 2008, and each tourist spent an average $295 a day during a typical trip that lasts about a week, according to the report citing local government data.

Impact limited

The global financial turmoil has limited impact on the country’s physical economy, Long Yongtu, secretariat of the Boao Forum, said at the Fudan International Forum of Management 2009 held in Shanghai over the weekend.

Recently released economic data supports his conclusion that the financial crisis didn’t take place in the country and the impact of the global crisis originated in the US is limited, small-scale, temporary and convertible, said Long.

He added that small- and medium-sized enterprises, which play a significant role in solving employment issues in the country, are the “blood and flesh” of the country’s economy.

Large polymetallic ore field

A large polymetallic ore field was discovered in Shaanxi Province, following a three-year geological exploration.The ore field is 70 kilometers long and 1 to 3 kilometers wide.

There are five large lead-zinc and silver-copper polymetallic mineral deposits in this ore field, one of which contains reserves of more than 10 million tons.

Car imports, exports dive

China’s car mports and exports plunged between January and June, the Beijing Times said Saturday, quoting the China Association of Automobile Manufactures (CAAM).

Car imports totaled 141,000, down 34 percent year-on-year, and car exports totaled 142,400, down 60.21 percent, CAAM said.

Agencies

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