China's fiscal revenue stood at 584 billion yuan ($87.5 billion) in November, up 16.1 percent year-on-year. The total amount of the nation's fiscal revenue from January to November rose 21.1 percent year-on-year to 767 billion yuan, according to a statement on the website of the Ministry of Finance on Friday.
The statement also said China's fiscal expenditure in November soared to 106 billion yuan, up 66.9 percent year-on-year.
Soybean imports surge
China's imports of soybeans shot up by 89.3 percent year-on-year to 5.47 million tons in November, the second-largest amount following June's total of 6.2 million tons, according to data released by the Administration of Customs on Friday.
Imports of soybeans jumped 30.7 percent year-on-year to 49.37 million tons in the January-to-Novemberperiod, and the average price rose by 2.3 percent to $449.4 per ton, official figures showed.
Cofco builds feed plant
Cofco Ltd, China's largest grains trader, will invest 200 million yuan ($30 million) to build an animal feed plant in Huangshi, Hubei province, the Huangshi Daily reported on Friday.
The plant will be completed in three phases and have an annual capacity of 200,000 tons of feed, the newspaper said. The facility will generate 1.2 billion yuan of annual sales revenue and more than 100 million yuan in gross profits.
Supplier may increase M A
Li Fung Ltd, the biggest global supplier to Wal-Mart Stores Inc, said it may increase acquisitions in China as the country's consumer spending grows, US demand rebounds and inflation spurs companies to seek partners.
The Hong Kong-based outsourcer may buy Chinese companies in the fashion, cosmetics and furniture industries during the next three years, President Bruce Rockowitz said in an interview in Hong Kong. It also will increase purchase in the US, Europe, and Japan, he said.
China DAily - Agencies
(China Daily 12/11/2010 page9)