China_Report_Issue_51_August_2017

0

30

60

90

120

150

bynumbers

china

130%

about 28 million

20.5% 82%

us$275 billion

Year-on-year

increase in

China’s barley

imports for the

first five months

of 2017

The 2017 goal of the number of em-

ployees in China’s housekeeping sector,

set in an action plan to boost consump-

tion, with the goal of reaching a revenue

above US$59 billion

China’s share of world renewable en-

ergy generation in 2016, up from two

percent ten years ago and overtaking the

US to become the world’s largest

Decrease in China’s outward

overseas direct investment in real

estate for the first half of 2017;

China’s total for outward direct

investment was down by 46 per-

cent over the period

The amount of local government

bonds issued in the first half of

2017, falling by US$254 billion

compared to the same period in

2016

Source: Ministry

of Agriculture of

China

Source: National Development and Reform Com-

mission of China

Source: BP /National Development and Reform

Commission of China

Source: Ministry of Commerce of China

Source: Ministry of Finance of China

Y-o-y increase in China’s imports of main agricultural products, January – May 2017

China’s clean power generation increased year on

year in the first half of 2017, except for hydropower

Amount of China’s US$48.2 billion outbound

overseas direct investment for its main sec-

tors, January – June 2017

Wheat

Barley

soy beans

Rapeseed

Beef

Mutton

Leasing and business services

Manufacturing

Wholesale and retail

Information services and software

it is an inevitable stage for a new platform
and mutual adaptation takes time.
In addition to the problems of WeChat
business itself, the lack of regulations and su-
pervision continue to affect the industry. In
November 2015, the State Administration of
Industry and Commerce proposed to bring
WeChat business activities under its supervi-
sion, demanding to curb illegal marketing on
WeChat, and saying it would study the new
development in the sector before introducing
the measures to supervise the industry. None-
theless, the follow-up details of enforcement
have yet to be released.
Lin told our reporter that the WeChat E-
commerce Branch of the China Electronic
Commerce Association had negotiated with
related government organs but as more than
20 million traders are involved and with the
lack of any specific law or industry regula-
tion, it is very difficult to supervise at a time
when the law does not punish even repeat
offenders.
In January 2017, the WeChat E-com-
merce Branch released a draft of professional
standards for WeChat business, seeking com-
ment from the public. The standards seek to
better define WeChat trading to distinguish
it from pyramid selling, and to better protect
the rights of consumers. Lin said the docu-
ment is still under discussion and it will be
some time before it is officially released. Lin
suggested that the government take a flexible
approach to supervision by encouraging the
industry while tightening its supervision.
“The sound development of WeChat busi-
ness requires the guidance of the government
and regulatory associations as well as the
backing of media,” Lin said. “There’s an ur-
gent need to introduce laws and regulations
to change the public’s mistaken impressions
of WeChat business and make it a new eco-
nomic force for growth.”

Total clean power generation 5.15%

Wind 25.7%

solar 80.3%

nuclear 20.8%

0

3

6

9

12

15

Us$13.5 billion Us$8.7 billion Us$6.1 billion Us$5.5 billion