Refractory Materials: The Global Market,The Global Industry

World demand for refractory products—heat-resisting ceramic materials used in metal refining, glass making, and other high-temperature industrial applications—will be slowing down considerably from an annual rate of 10.8 percent during 2002–07 to 3.5 percent during 2007–12. Such slower growth reflects many factors, but is due primarily to: unsettled economic conditions; better efficiencies in steelmaking (which accounts for about half of all end uses of refractories); and the preference of end-users for maintenance rather than new facilities. The four key markets or end uses for refractory materials are: iron and steelmaking; other metal-making; nonmetallic materials such as glass; and an all-other category. In 2007, world refractory demand was 38.1 million metric tons valued at $22.9 billion; the corresponding figures for 2012 are projected at about 45.2 million metric tons valued at $28.5 billion. The Asia-Pacific region accounted for about 45 percent of total weight in 2007; its share by 2012 should rise to about 69 percent, with China becoming the dominant producer and consumer of refractory materials.     

RMB Appreciation in 2008

At the beginning of 2007, both foreign investment banks and domestic commercial banks all thought that last year＇s RMB appreciation would grow between 4 to 5 percent; however the realization of a 6.77 percent increase has surprised everyone. The RMB has appreciated much faster than expected, keeping pace with the rise of China＇s foreign trade surplus and foreign exchange reserves.     

Consumption, New Protagonist in 2007 GDP

Not long ago, the National Bureau of Statistics released its 2007 Macro Economy Index. Social consumption retail sales reached RMB 8.9 billion, increased by 16.8 percent over the previous year, or 3.1 percentage points higher; the whole investment in social fixed assets was valued RMB 13.7 billion, a year-on-year increase of 24.8 percent, that is 0.9 percentage points higher; and trade surplus amounted to RMB 24.7 billion, rising by 47.7 percent compared with the same period last year, 26.3 percentage points falling over the increasing speed last year. According to preliminary estimates, GDP for the year was RMB 24.67 trillion, up by 11.4 percent from the previous year,     

Indoor Climate Control: The Global Demand for Heating,Ventilating, and Air-Conditioning Equipment

World demand for heating, ventilating, and air-conditioning (HVAC) equipment is expected to rise in absolute terms during the current five-year period, but the rate of growth is slowing. However, growth is still in excess of that recorded by both global building construction expenditures and world gross domestic product. In 2007, $63.1 billion was spent on HVAC. The Asia-Pacific region now accounts for about 45 percent of the total. The two major categories of HVAC are cooling equipment, which accounts for 71 percent of the total, while heating equipment is responsible for the remaining 29 percent. The commercial market dominates the residential market by a ratio of 65:35. There are hundreds of suppliers around the world, but the eight leading firms have about 50 percent of the market.     

China's Auto Industry Steps Forward

Last year,the volume of China's auto trade reached US$66.878 bil- lion,of which imports accounted for US$25.982 billion,a year-on- year increase of 24.45 percent;while ex- ports totaled US$40.896 billion,growing by 45.31 percent.The China Association of Automobile Manufacturers(CAAM) predicts that the number of autos sold in 2008 will break the 1 million barrier for the first time in history,representing an increase of about 20 percent.     

Construction

Building Materials Sub-council of CCPIT is the other sub-council in construction field.CCPIT Building Materials Subcouncil（CCPITBM）,as well as CCOIC Building Materials Chamber of Commerce,is authorized by CCPIT and state administration of building materials industry in 1992.CCPITBM is a sub-organization of CCPIT and CCOIC. Meanwhile, it is a non-governmental organization for commercial trade and liaison with trade organization, chamber of commerce, association, and other economic group internationally in the field of building materials industry.     

China-ASEAN,More Potential to Explore

China-ASEAN bilateral trade maintained rapid growth for many years. Trade volume between China and the Association of Southeast Asian Nations （ASEAN） hit US$202.6 billion in 2007, up 25.9 percent year-on-year, according to the statistics from the China-ASEAN Business Council.     

Export Structure Optimized

The rapid growth of China＇s trade surplus is a reflection of its industrial advancement and growing competitiveness.     

机床工具行业：向高端迈进

根据国家机床工具协会的分类,机床工具行业由金属加工机床（包括切削机床、成形机床）、铸造机械、木工机床、量刃具、磨料磨具、机床附件、机床电器七个子行业组成。机床的加工复杂度、     

Sinosteel：Extraordinary Moves in Industry Chess

Among the Fortune 500 firms,more and more images from China emerge out.On the 2008 list,Sinosteel Corporation,a landmark group of China industries quietly squeezes into the candidate line.As the largest steel service ＆ trade enterprise,its sales reached at RMB 111.24 billion,with a year-on-year increase of 83.03 percent,and the profit grew by 180.03 percent.On the Sinosteel 2008 Work Meeting,the president Huang Tianwen uttered,＂In the coming year,we will work for US$20 billion sales,and look forward to getting a position in Fortune 500 firms for ourselves.＂     

我国出口退税政策的贸易与经济效应研究——基于局部均衡模型的分析

通过将出口退税政策变量纳入局部均衡COMPAS模型,从产业层面上分析出口退税政策如何影响进出口行业的产出、贸易、收益等经济指标,并利用中国纺织服装品对美国出口贸易的有关数据,实证模拟中国出口退税政策变化对中美两国纺织业的生产、贸易和收入的影响。结果表明:平均而言,出口退税率每提高1个百分点,中国纺织品出口美国的价格将大约下降0.93%,而中国纺织品对美国出口量将增加2.86%左右,全行业收入大约增加1.83%;而美国纺织行业的产出减少1.9%,全行业收入减少2.2%。     

The U.S. Television Set Market

The U.S. television set market is projected to reach the $27 billion mark by 2010, up from $25 billion in 2006. The bulk of this growth will come from the flat-panel television set segment, which is projected to grow 65 percent from 2006-2010. The transition to digital television continues to be a major underpinning of the television set market in the United States. Additionally, consumers are increasingly looking to use their television sets for a myriad of non-traditional activities including accessing the Internet, checking e-mail, and watching content accessed from hardware devices like digital video recorders. JEL Classification L63     

Möglichkeiten zur Kompensation der kalten Progression: Wirkung in Österreich

Regardless of the latest tax reform the fiscal drag brings an additional tax burden of € 6.2 billion for the period 2016-2021 to Austrian taxpayers. In 2021 alone this fiscal drag will levy an additional € 2.17 billion. The study in hand gives an overview how other countries control the fiscal drag and analyses the effect of such adjustments in the Austrian tax system. Depending on the adjustment model, the range of the fiscal drag by 2021 lies between a tax burden of € 4 billion (tax brackets adjusted once the cumulative inflation reaches the 5 percent threshold) and between a tax reduction of € 1.6 billion (the tax system is adjusted to the development of nominal wages). In the latter case an adjustment leads to an over-compensation of the fiscal drag yielding a constant tax burden relative to income. For the entire elimination of the fiscal drag an annual inflationary adjustment of the tax brackets, tax credits and deductibles is necessary.     

If Nothing is Achieved: Who Pays for the Brexit?

The United Kingdom will depart from the European Union in March 2019. Numerous open questions remain about details and conditions especially with regard to post-Brexit EU-UK trade relations. In case of a negotiation failure, a “hard Brexit” could cause considerably high costs on both sides of the Channel. In the short run, companies will be charged more than 15 billion euro as tariffs. In the long run, UK-EU trade could be reduced up to 50 percent.     

The Global Market for Power Tools

The global demand for power tools rose from $19.0 billion in 1999 to $22.8 billion by 2004 and is expected to increase to $29.2 billion in 2009. The annual rate of growth was 3.7 percent during 1999-2004; the projected rate during 2004-2009 is 5.0 percent. This reflects accelerating growth in developing regions, with the most promising opportunities occurring in Latin America, Africa/Mid-East, and Asia-Pacific. Electric tools (plug-in and cordless) dominate world demand, comprising three-fourth of shipments in 2004. Commercial users accounted for 70 percent and households for 30 percent of total sales, a ratio that should prevail during the coming years. North America accounted for 40 percent of total demand but for only 30 percent of production, as U.S. firms shifted operations to countries with lower wages. While hundreds of companies offer power tools, only a few firms hold significant market share. The leaders are Black and Decker (United States), Bosch (Germany), TechTronic (Hong- Kong), Makita (Japan), and Hitachi (Japan); together they accounted for 37 percent of global sales in 2004. JEL Classification L640     

我国外贸依存度的现状及影响分析

加入WTO以来,我国外贸迅猛发展,外贸依存度也随之急剧攀升。根据中国商务部的统计数据,截至2008年5月,我国累计进出口总额达到10120．8亿美元,比上年同期8017．1亿美元增长了26．2％。我国的外贸依存度从1978年的9．79％上升到2007年的70．01％,增加了6倍多。这说明我国依赖国际市场的程度不断加深,但这又可能给我国经济带来许多影响。本文试图通过对我国外贸依存度的现状、原因和影响进行分析,提出改善外贸依存度的相关政策建议。     

China-EU Economic Relation： Fluctuating in 2008

The economic relation between China and EU has the great significance to each party as well as to the world. As the great political and economic powers in the today＇s world, China and EU have the urgent motivations to promote the economic cooperation between them at the global times. The economic relation between China and Europe, including the trade and economic cooperation and investment between China and Europe, has been developing greatly since 1975. The bilateral trade volume has increased rapidly, ahnost being doubled in 3 years since 2000. The bilateral trade volume arrived at US$356.2 billion in 2007. In 2007, China＇s import from EU was US$111 billion, which increases by 22% comparing with that in 2006, and exportation to EU is US$245 billion, which increases by 29%.     

Looking Through the Trade Surplus Prism

Huge trade surplus attracks more and more attention to the China＇s economy operation, a controversial topic on people＇s lips as well.     

CHINA''S BANKING REFORM in Progress (Part Ⅱ)

Ⅱ.2 Operating Income in 2007 Operating income sustained high growth into 2007 on account of rapid increases in both net interest income and fee and commission income.For the tbur listed state commercial banks,operating income reached RMB 716.6 billion in 2007,an increase of 37.7% over 2006 (Table 2).     

Review on China's Textile and Apparel Trade of 2007

1.Trends and Features of China's International Trade in Textile and Ap- parel in 2007. The year 2007 has seen the total value of export and import of Chinese textile and apparel at US$190.0 billion,up 17.1%,accounting for 8.7% of the coun- try's total trade of goods.Respectively,