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BEIJING - The American Chamber of Commerce (AmCham) in Shanghai reports that 91% of companies in a survey are optimistic about their Chinese operations, despite business dropping for the second year in a row in 2012. Of the 420 companies surveyed, 73% of US companies in China said they were profitable last year, declining from 78% in 2011 and 79% the year before. Around 75% of companies did say, however, that they were planning to increase investments in China this year.

BEIJING – The China Research Centre on Aging says the number of China’s elderly will reach 202 million in 2013, accounting for 14.8% of the total population. Defined as people over 60 years old, the elderly population has grown by 8.91 million people year-on-year. The announcement increases fears of a shrinking working population and an increasing dependent population, with dependents increasing from 44.62% of the total population in 2012 to 45.94% in 2013.

SINGAPORE - Standard & Poor's Ratings Services says Hong Kong's projected budgetary surplus for this fiscal year strengthens the Government's robust fiscal position, which underpins the issuer credit rating (AAA/Stable/A-1+; cnAAA/cnA-1+). The Government estimates the consolidated surplus for fiscal 2012-2013 (ending March) at HK$ 64.9 billion, or 3.2% of GDP. The surplus reflects the resilient earnings and profitability of local enterprises, increased land sales, and lower expenditure than the Government initially projected.

HONG KONG - The Bank of China (BOC) Hong Kong and The Bank of China Taipei branch, the official RMB clearing banks in Hong Kong and Taiwan, today (March 1) began offering RMB term deposits for participant banks. Notably, the interest rates offered for term deposits by BOC HK are lower than those for Bank of China’s Taipei branch. At the same time, the clearing bank has also raised the overnight deposit rate for participant banks in Hong Kong to 0.648%, from 0.629% previously. The overnight rate in Hong Kong is now level with Taiwan’s overnight rate.

NEW DELHI - India's new budget for FY14 (year ending March 2014), presented today, delivers on three counts, according to an analysis by BBVA Bank: 1) it delivered a credible fiscal consolidation path; 2) it focussed on the quality of deficit reduction; and 3) it balanced austerity with populism without undermining economic growth. The Government said the FY13 fiscal deficit was within the targeted 5.3% of GDP (at 5.2%), with a promise to reduce the deficit to 4.8% of GDP in FY14 and to 3.0% by FY17.

BEIJING - Political contacts across the Taiwan Strait "should be given a proper level of attention" to come to grips with the thorny issue of "one China", according to Lien Chan, an honorary chairman of Taiwan's ruling Kuomintang. Speaking to reporters after meeting with China's top leader, Xi Jinping, in Beijing, Lien said the two sides can start with experts and non-governmental organisations such as think tanks to tackle more difficult political issues.

BEIJING - Russia is set to supply China with natural gas in a strategic deal reached by the Vice-Presidents of the two countries. Russia agreed to provide an annual supply of 38 billion cu m of natural gas through an eastern pipeline to China. The deal builds on a framework agreement from 2009 where Russia agreed to deliver 70 billion cu m annually for 30 years, starting in 2014. China consumes roughly 145 billion cu m of natural gas, and will import 78.5 billion cu m by 2014. The announcement comes a few weeks before Xi Jinping’s scheduled state visit to Moscow.