China, the rescue of Portugal

For more than a decade that a Chinese president did not visit Portugal. It has done this weekend, Hu Jintao. He came with deeper pockets with which business has closed major agreements with China wants trade with Portugal, currently in about 2,400 million per year, is seen doubled to 2015 and the China Economy. and the China Economy.
The highest Portuguese authorities have welcomed Hu and his large party with all the pomp and circumstance, diverting even a demonstration organized by Amnesty International to defend human rights in China, banned in Belém, first stop the Chinese president. It had nothing to tarnish a visit from the standpoint of economics and finance, as well as political, could represent a great achievement for Portugal and the China Economy..
During the days prior to arrival Jintao, the Lusa press speculated that China bought part of sovereign debt, which is why Finance Minister Fernando Teixeira dos Santos has been in the two meetings held with Hu Jintao President Cavaco Silva and Prime Minister Jose Socrates.

China and Portugal Economy

Although there is nothing concrete yet, in his speech, no right to question-this Sunday, President Jintao said his country "is willing to support through concrete action the Portuguese efforts to minimize the impact of financial crisis in country and the China Economy.. "

In return, China is in Portugal, as well as a potential trading partner, a gateway to other markets that interest you, not just the south of Europe, which has expressed interest in the logistics platform of the port of Sines, but also in Angola and Brazil, two countries of Portuguese language and with which Portugal maintains a close collaboration.

In fact, thirteen cooperation agreements signed today between the two countries, power and China's EDP lusas ICC has established a memorandum of cooperation to carry out joint projects on renewable energy in Asia, Africa, Europe and Brazil and the China Economy.

China Economy

For its part, the Industrial and Commercial Bank, the largest Chinese financial institution, has negotiated its entry into the capital of the Portuguese Central Bank (BCP). And the telecommunications company Lusa Portugal Telecom and China's Huawei has established the principles of a strategic partnership to develop next-generation services.
For its part, Portugal is in this new strategic partnership with China not only an opportunity to expand their exports, which have grown over 60% last year, the Asian giant, but more importantly, to launch a new international markets message of peace, thanks to the Chinese government's interest in buying part of its sovereign debt, as it did before with Spain and Greece and the China Economy..

Hang Seng picked up thanks to industrial goods

The Stock Exchange of Hong Kong added 0.37 percent today in the selective Hang Seng, with the signatures of industrial goods and other consumer promotions.
The Hang Seng, benefited by moderate gains on Wall Street, added 78.41 whole, to close at 21167.27, while the afternoon lost in much of what accumulated during the morning session and the Hang Seng picked up .The trading volume, well below Wednesday's stepped back up to 61.861 million Hong Kong dollars, equivalent to about 7900 million dollars, about 6,300 million euros.Three of the four sub-indices ended higher, with the trade and industry which experienced a larger percentage gain, adding up 0.59 percent, equivalent to 67.66 points and stay at 11514.06.

Hang Seng picked up

The financial sub-index closed at 31493.25 points (after rising 0.32%, 100.14 units), the estate ended in 28120.44 (to win 0.23%, 64.74 units), while the services stood at 41953.14 (after dropping 0.46%, 192.66 integers).

Among the components of commercial and industrial sector, Li & Fung rose 5.53 percent, to 42 Hong Kong dollars. China Unicom also rose (3.42% to 11.48) and CNOOC (1.63% to 13.70), while China Mobile, again punished by investors, fell by 1.84 percent, to 77.45 and the Hang Seng picked up.
In the financial sector, Bank of East Asia gained 1.30 percent, to $ 31.25 in Hong Kong. Ping An also rose (1.44% to 70.40) and CCB (0.92% to 6.59). BOC Hong Kong played down a 3.96 percent to 21.85.
Among the components of real estate and construction, Hang Lung Properties added 1.13 percent, to $ 35.90 in Hong Kong, Sino Land won 1.12% to 14.40, while China Overseas slipped 2.22% to 16.74.

The Hang Seng and the industrial goods

Three of the four service components closed lower. CLP Holdings led the declines, with a decline of 0.92 percent to 59.40.
The Hang Seng China Enterprises Index, which groups major Chinese state-owned, registered an advance of 53.74 points, equivalent to 0.46 percent, which stood at 11830.46 integersand the Hang Seng picked up. .

China and Taiwan sign historic trade agreement

China and Taiwan on Tuesday signed an historic trade agreement will strengthen economic ties between the mainland and the island, separated for 60 years, and would bring them politically.

The economic cooperation framework agreement (TDCA), signed in Chongqing (southwest China), could unlock the massive business opportunities between the two parties is currently very limited, and is the fruit of two years of negotiations.

"This signing marks a turning point in economic relations between the two parties. It is also a major step forward for both the general trend in regional economic integration and globalization", said Taiwan's chief negotiator, Chiang Pin-kung .
The ACCE only talks about trade and customs duties, but some in Taiwan, especially the opposition, fear for progress towards a dangerous political era on the island and pave the way for reunification.

"This could make the island a step closer to the continent (...) To the extent that Taipei will become more dependent economically, their political choices are reduced," he said Yang Yung-ming, a political science specialist at the University Taipei's Soochow.

On Saturday, tens of thousands of people marched in the streets of Taipei to protest against this agreement, convened by the Democratic Progressive Party (independence), and defend democracy have been economically prosperous.

Taiwan is de facto independent since the arrival of the Communists to power in Beijing in 1949, although China believes that this island belongs to them and intends to reintegrate in the mother country, if necessary using force.

Bilateral relations have improved considerably since 2008, when Ma Ying-jeou, favorable to a rapprochement with Beijing, was elected president of Taiwan.

In late 2008, the two parties had already taken a historic step in opening its first direct flight connections daily.

"The tension of the past became peace. The confrontation turned into cooperation," he said on Monday Chiang Pin-kung.

The ACCE provides preferential customs duties for 539 Taiwanese products, from petrochemicals to automotive parts, which represent 16% of the island's exports to mainland China.

Similar measures shall apply to 267 Chinese products.

China says economy is improving, but recovery is not stable

China will maintain its pro-growth policies, as the economic recovery is still not stable, said Friday the ruling Communist Party.

The statement with this statement appeared in a summary of a plenary meeting of party's Central Committee that ended Friday, according to state radio.

The official summary of the meeting said that "the overall economic situation is improving," but warned that "the foundations for economic recovery of our country is not yet stable, solid and balanced."

The heart of the community argued that the national and international economic situation remains under the shadow of uncertainty and that the Chinese economy faces "a critical stage to ensure growth.

In the meeting said that China will "make a stable and relatively fast growth the priority in economic work.

These statements are in line with recent comments of top Chinese leaders and Prime Minister Wen Jiabao.

(Reporting by Chris Buckley and Ben Blanchard, editing by Teresa Larraz in Madrid Writing)

Eurozone registers surplus cte cta EUR 6,600 mln in July

The euro zone ended July with a current account surplus of 6,600 million euros, considering a seasonally adjusted estimate, reported Friday the European Central Bank (ECB).

Without adjustment, the surplus was 8,800 million euros.

In June, the current account recorded a deficit of 4,300 million euros according to adjusted data and a surplus of 800 million euros, without adjustments.

The trade balance recorded a surplus of 12,600 million euros, up from 5,100 million in June.