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ahojunk
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China manufacturing hits two-year high, boosted by heavy industry
Frank Tang, SCMP
PUBLISHED : Thursday, 01 December, 2016, 10:20am
UPDATED : Thursday, 01 December, 2016, 11:31am
China’s once dominant heavy industries are back. Photo: Reuters
The level of manufacturing in China reached a two-year high last month as the nation’s once dominant heavy industries came back to life amid strong investment in infrastructure and property.
The official manufacturing purchase manager index rose by 0.5 percentage points to 51.7, the National Bureau of Statistics said on Thursday. The gauge has stayed in expansionary territory for four months in a row.
It was driven up by rising orders, which increased by 0.4 percentage points to 53.2. The production index has risen for four months, reaching 53.9 in November.
“It’s stronger than expected and the economy is in good shape,” said Julian Evans-Pritchard, a China economist at Capital Economics.
“Large firms did well on government led infrastructure projects. The commodity price rally also helped increase production in the metal sector,” he said.
However, signs of weakness can be seen in construction.
A subindex covering the sector has fallen for two straight months, reflecting curbs introduced in October to cool the nation’s property market.
********
For the naysayers, it is going to be a very long wait.
.
Frank Tang, SCMP
PUBLISHED : Thursday, 01 December, 2016, 10:20am
UPDATED : Thursday, 01 December, 2016, 11:31am
China’s once dominant heavy industries are back. Photo: Reuters
The level of manufacturing in China reached a two-year high last month as the nation’s once dominant heavy industries came back to life amid strong investment in infrastructure and property.
The official manufacturing purchase manager index rose by 0.5 percentage points to 51.7, the National Bureau of Statistics said on Thursday. The gauge has stayed in expansionary territory for four months in a row.
It was driven up by rising orders, which increased by 0.4 percentage points to 53.2. The production index has risen for four months, reaching 53.9 in November.
“It’s stronger than expected and the economy is in good shape,” said Julian Evans-Pritchard, a China economist at Capital Economics.
“Large firms did well on government led infrastructure projects. The commodity price rally also helped increase production in the metal sector,” he said.
However, signs of weakness can be seen in construction.
A subindex covering the sector has fallen for two straight months, reflecting curbs introduced in October to cool the nation’s property market.
********
For the naysayers, it is going to be a very long wait.
.
onebyone
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Official survey: China factory activity rises to 2-year high
KELVIN CHAN
Associated PressDecember 1, 2016
View photos
FILE - In this July 27, 2016 file photo, workers assemble sneaker at a factory in Jinjiang city in southeast China's Fujian province. An official survey has found that Chinese factory activity rose again in November to its highest in more than two years. The monthly purchasing managers' index by the Chinese Federation of Logistics and Purchasing released Thursday, Dec. 1, 2016 climbed to 51.7 last month from 51.2 in October. (Chinatopix via AP, File)
" data-reactid="18" style="color: rgb(120, 125, 130); line-height: 1.5; padding-top: 5px; padding-bottom: 5px;">
FILE - In this July 27, 2016 file photo, workers assemble sneaker at a factory in Jinjiang city in southeast China's Fujian province. An official survey has found that Chinese factory activity rose again in November to its highest in more than two years. The monthly purchasing managers' index by the Chinese Federation of Logistics and Purchasing released Thursday, Dec. 1, 2016 climbed to 51.7 last month from 51.2 in October. (Chinatopix via AP, File)
HONG KONG (AP) — Activity at China's factories and services companies accelerated last month to the highest level in more than two years, in the latest sign that the world's No. 2 economy is stabilizing, according to official data released Thursday.
The monthly purchasing managers' index by the Chinese Federation of Logistics and Purchasing climbed last month to 51.7 from 51.2 in October.
The last time the index was at this level was July 2014.
A separate index compiled by financial publication Caixin showed that factory activity eased from the previous month but still maintained a robust pace. The index slipped to 50.9 from 51.2 previously.
The two indexes are based on a 100-point scale with the 50-point mark separating expansion from contraction.
In another upbeat sign, service sector activity gained further momentum as the official non-manufacturing PMI rose to its highest since June 2014, climbing to 54.7 from 54.0.
Both the official and private indexes for the country's outsize manufacturing sector are seen as important proxies for the wider Chinese economy, which posted steady growth of 6.7 percent in the latest quarter.
China's economy has cooled gradually over the past six years as Beijing tries to pivot it away from heavy reliance on export-based manufacturing and investment toward consumer spending.
Analyst say the latest factory numbers reflect how China's larger, state-owned enterprises, which are more heavily represented by the federation's survey, are bigger beneficiaries of government stimulus measures aimed at shoring up growth than the small and midsized private businesses that Caixin's survey focuses on.
"While today's data suggest that growth remains strong, much of the current recovery has been driven by policy stimulus, the boost from which is likely fade soon," said Julian Evans-Pritchard of Capital Economics.
https://www.yahoo.com/news/official-survey-china-factory-activity-024052140.html
KELVIN CHAN
Associated PressDecember 1, 2016
View photos
FILE - In this July 27, 2016 file photo, workers assemble sneaker at a factory in Jinjiang city in southeast China's Fujian province. An official survey has found that Chinese factory activity rose again in November to its highest in more than two years. The monthly purchasing managers' index by the Chinese Federation of Logistics and Purchasing released Thursday, Dec. 1, 2016 climbed to 51.7 last month from 51.2 in October. (Chinatopix via AP, File)
" data-reactid="18" style="color: rgb(120, 125, 130); line-height: 1.5; padding-top: 5px; padding-bottom: 5px;">
FILE - In this July 27, 2016 file photo, workers assemble sneaker at a factory in Jinjiang city in southeast China's Fujian province. An official survey has found that Chinese factory activity rose again in November to its highest in more than two years. The monthly purchasing managers' index by the Chinese Federation of Logistics and Purchasing released Thursday, Dec. 1, 2016 climbed to 51.7 last month from 51.2 in October. (Chinatopix via AP, File)
HONG KONG (AP) — Activity at China's factories and services companies accelerated last month to the highest level in more than two years, in the latest sign that the world's No. 2 economy is stabilizing, according to official data released Thursday.
The monthly purchasing managers' index by the Chinese Federation of Logistics and Purchasing climbed last month to 51.7 from 51.2 in October.
The last time the index was at this level was July 2014.
A separate index compiled by financial publication Caixin showed that factory activity eased from the previous month but still maintained a robust pace. The index slipped to 50.9 from 51.2 previously.
The two indexes are based on a 100-point scale with the 50-point mark separating expansion from contraction.
In another upbeat sign, service sector activity gained further momentum as the official non-manufacturing PMI rose to its highest since June 2014, climbing to 54.7 from 54.0.
Both the official and private indexes for the country's outsize manufacturing sector are seen as important proxies for the wider Chinese economy, which posted steady growth of 6.7 percent in the latest quarter.
China's economy has cooled gradually over the past six years as Beijing tries to pivot it away from heavy reliance on export-based manufacturing and investment toward consumer spending.
Analyst say the latest factory numbers reflect how China's larger, state-owned enterprises, which are more heavily represented by the federation's survey, are bigger beneficiaries of government stimulus measures aimed at shoring up growth than the small and midsized private businesses that Caixin's survey focuses on.
"While today's data suggest that growth remains strong, much of the current recovery has been driven by policy stimulus, the boost from which is likely fade soon," said Julian Evans-Pritchard of Capital Economics.
https://www.yahoo.com/news/official-survey-china-factory-activity-024052140.html
TaiShang
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China's manufacturing activity expands for 4th month
(Xinhua) December 01, 2016
Photo taken on Nov. 30, 2016 shows an assembly line in a factory of China National Heavy Duty Truck Group Co., Ltd. in Jinan, east China's Shangdong Province. China's manufacturing Purchasing Managers' Index (PMI) came in at 51.7 in November, up from 51.2 in October, according to data released Thursday by the National Bureau of Statistics. (Xinhua/Guo Xulei)
BEIJING, Dec. 1 (Xinhua) -- China's manufacturing activity continued to expand for a fourth month in November, providing further evidence of a strengthening Chinese economy, official data showed Thursday.
The manufacturing Purchasing Managers' Index (PMI) came in at 51.7 in November, up from 51.2 in October and staying above the 50-point boom-bust line for the fourth straight month, the National Bureau of Statistics (NBS) said in a statement.
The last time manufacturing expanded at this pace was July 2014, and the last time the figure exceeded 51.7 was April 2012, when the number reached 53.3.
NBS statistician Zhao Qinghe attributed the steady upward trend to improving domestic demand, booming manufacturing in consumer goods and high-tech sectors, and better foreign trade figures.
The sub-index for production rose for a fourth month to 53.9, while that for new orders moved up for a second month to 53.2, both hitting their highest point this year.
Consumer goods manufacturing rose to 53.2 from 51.7 in October. High-tech and equipment manufacturing reported PMI figures of 53.2 and 52.5, both higher than the headline manufacturing index.
The new export orders sub-index accelerated from 49.2 in October to 50.3 in November, while the import sub-index rose from 49.9 to 50.6, the NBS said.
China's non-manufacturing activity also expanded at a faster pace in November, with the PMI rising to 54.7 from 54 in October, the bureau said in a separate statement.
The data came before the release of the Caixin manufacturing PMI, a private gauge of manufacturing activity, which showed slightly slower expansion.
Despite the upbeat sub-indices, several figures pointed to difficulty for manufacturers, Zhao Qinghe said.
An NBS survey showed that more than 30 percent of manufacturers, the highest share in three years, faced rising raw material prices and transportation costs, Zhao said.
Recent sharp depreciation of the yuan has led to higher costs for importing materials, hitting computer and other electronic sectors hard, he added.
Rising costs ate into profits of manufacturers, causing worries within the sector. As a result, the business outlook index dropped from 58.5 in October to 55.5 -- still within an optimistic range.
Meanwhile, small companies were doing much worse than larger ones, with small business PMI dropping to 47.4 from 48.3 in October.
The purchasing price index jumped to 68.3 from 62.6 in October, the highest since March 2011.
Although the momentum in coal price increases moderated in the second half of November, other commodity prices continued to rise, including steel, cement, aluminum, and other ferrous metals, the CICC said.
"Given time, improved manufacturing profitability and lower real interest rates may lead to some recovery in manufacturing investment," according to the note.
With export demand and private demand potentially on the mend, the CICC expects recovery in manufacturing demand.
Zhang Liqun, researcher with the Development Research Center of the State Council, also voiced his optimism.
The continued expansion of manufacturing shows that the economy has stabilized after a protracted slowdown, Zhang said.
China's industrial profits improved in October with a rise of 9.8 percent year on year, up from 7.7 percent in September, the NBS said late last month.
The country's GDPgrew 6.7 percent in the first three quarters of 2016, steady with the first half and within the government's target range of between 6.5 and 7 percent for 2016.
"It is highly probable that the economy will continue steady growth in the future," Zhang said.
***
@Viva_Viet , if you can't beat them, join them, my friend.
(Xinhua) December 01, 2016
Photo taken on Nov. 30, 2016 shows an assembly line in a factory of China National Heavy Duty Truck Group Co., Ltd. in Jinan, east China's Shangdong Province. China's manufacturing Purchasing Managers' Index (PMI) came in at 51.7 in November, up from 51.2 in October, according to data released Thursday by the National Bureau of Statistics. (Xinhua/Guo Xulei)
BEIJING, Dec. 1 (Xinhua) -- China's manufacturing activity continued to expand for a fourth month in November, providing further evidence of a strengthening Chinese economy, official data showed Thursday.
The manufacturing Purchasing Managers' Index (PMI) came in at 51.7 in November, up from 51.2 in October and staying above the 50-point boom-bust line for the fourth straight month, the National Bureau of Statistics (NBS) said in a statement.
The last time manufacturing expanded at this pace was July 2014, and the last time the figure exceeded 51.7 was April 2012, when the number reached 53.3.
NBS statistician Zhao Qinghe attributed the steady upward trend to improving domestic demand, booming manufacturing in consumer goods and high-tech sectors, and better foreign trade figures.
The sub-index for production rose for a fourth month to 53.9, while that for new orders moved up for a second month to 53.2, both hitting their highest point this year.
Consumer goods manufacturing rose to 53.2 from 51.7 in October. High-tech and equipment manufacturing reported PMI figures of 53.2 and 52.5, both higher than the headline manufacturing index.
The new export orders sub-index accelerated from 49.2 in October to 50.3 in November, while the import sub-index rose from 49.9 to 50.6, the NBS said.
China's non-manufacturing activity also expanded at a faster pace in November, with the PMI rising to 54.7 from 54 in October, the bureau said in a separate statement.
The data came before the release of the Caixin manufacturing PMI, a private gauge of manufacturing activity, which showed slightly slower expansion.
Despite the upbeat sub-indices, several figures pointed to difficulty for manufacturers, Zhao Qinghe said.
An NBS survey showed that more than 30 percent of manufacturers, the highest share in three years, faced rising raw material prices and transportation costs, Zhao said.
Recent sharp depreciation of the yuan has led to higher costs for importing materials, hitting computer and other electronic sectors hard, he added.
Rising costs ate into profits of manufacturers, causing worries within the sector. As a result, the business outlook index dropped from 58.5 in October to 55.5 -- still within an optimistic range.
Meanwhile, small companies were doing much worse than larger ones, with small business PMI dropping to 47.4 from 48.3 in October.
The purchasing price index jumped to 68.3 from 62.6 in October, the highest since March 2011.
Although the momentum in coal price increases moderated in the second half of November, other commodity prices continued to rise, including steel, cement, aluminum, and other ferrous metals, the CICC said.
"Given time, improved manufacturing profitability and lower real interest rates may lead to some recovery in manufacturing investment," according to the note.
With export demand and private demand potentially on the mend, the CICC expects recovery in manufacturing demand.
Zhang Liqun, researcher with the Development Research Center of the State Council, also voiced his optimism.
The continued expansion of manufacturing shows that the economy has stabilized after a protracted slowdown, Zhang said.
China's industrial profits improved in October with a rise of 9.8 percent year on year, up from 7.7 percent in September, the NBS said late last month.
The country's GDPgrew 6.7 percent in the first three quarters of 2016, steady with the first half and within the government's target range of between 6.5 and 7 percent for 2016.
"It is highly probable that the economy will continue steady growth in the future," Zhang said.
***
@Viva_Viet , if you can't beat them, join them, my friend.
cirr
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China's economy picks up momentum as PMI improves
Xinhua | Updated: 2016-12-02 17:36
BEIJING -- China's economy is picking up momentum as activity in the country's manufacturing sector continued to accelerate in November, expanding at its strongest pace in more than two years.
Data from the National Bureau of Statistics (NBS) showed that the manufacturing Purchasing Managers' Index (PMI) rose to 51.7 in November from the previous month's 51.2, above the 50-point mark that separates growth from contraction.
Growth has also accelerated in the services sector to levels not seen since 2014, pointing to improvement not only in heavy industries like steel but also in the broader economy.
Zhang Hangyan, analyst with the Chinese Academy of Social Sciences, said the country's pro-growth policies and measures to cut overcapacity have worked, contributing to the continued improvement in PMI.
Despite a rocky start this year, China's factories have perked up in recent months, buoyed by a government infrastructure building spree and a housing boom.
Fixed-asset investment maintained steady growth in the first ten months, up 8.3 percent year- on-year. Growth in property development investment was 6.6 percent during the period, higher than the 5.8 percent posted in the first nine months.
The yuan's recent depreciation also contributed to the PMI's improvement. The new export orders sub-index accelerated to 50.3 in November, the highest level in more than two years, as a weaker yuan is conducive to boosting the country's exports.
The stronger-than-expected PMI data added to evidence that China's economy has been stabilizing and is on track to meet the government's target of 6.5 to 7 percent growth for the year.
China's economy expanded 6.7 percent in the third quarter, unchanged from the previous two quarters.
The continued expansion of manufacturing shows that the economy has stabilized after a protracted slowdown, said Zhang Liqun, researcher with the Development Research Center of the State Council.
Earlier this week, Fitch Ratings raised its Chinese growth forecast by 0.1 percentage points to 6.7 percent for 2016, and to 6.4 percent for 2017.
"China's efforts to stabilize the economy following the slowdown last year have been more successful than anticipated," Fitch said in its statement.
Although the government's 6.5-percent baseline target for GDP growth this year is firmly within reach, analysts have voiced concerns over the property sector, higher costs and inflationary pressures.
While property investment growth continued to quicken, some have suggested it could be due to a last-minute push by developers to complete construction projects as home sales and surging prices start to slow.
Raw material prices and logistics costs have stayed at high levels. Recent depreciation of the yuan has led to higher costs for importing materials, hitting computer and other electronics industries hard, said NBS statistician Zhao Qinghe.
Small companies were doing much worse than larger ones, with the small business PMI dropping to 47.4 from 48.3 in October.
Analysts also worried that inflationary pressures might increase substantially in the future. The PMI sub-index for raw material prices surged to 68.3 percent in November, up 5.7 percentage points from October.
As lenders limit lending to industries beset with overcapacity, raw material prices are expected to keep rising, pushing the Consumer Price Index (CPI) higher.
China's CPI grew 2.1 percent year-on-year in October, marking its fastest pace in six months as food prices rose, while factory prices beat market expectations to accelerate to a 55-month high of 1.2 percent.
Watch out for inflation in tandem with the expanding economy!
Xinhua | Updated: 2016-12-02 17:36
BEIJING -- China's economy is picking up momentum as activity in the country's manufacturing sector continued to accelerate in November, expanding at its strongest pace in more than two years.
Data from the National Bureau of Statistics (NBS) showed that the manufacturing Purchasing Managers' Index (PMI) rose to 51.7 in November from the previous month's 51.2, above the 50-point mark that separates growth from contraction.
Growth has also accelerated in the services sector to levels not seen since 2014, pointing to improvement not only in heavy industries like steel but also in the broader economy.
Zhang Hangyan, analyst with the Chinese Academy of Social Sciences, said the country's pro-growth policies and measures to cut overcapacity have worked, contributing to the continued improvement in PMI.
Despite a rocky start this year, China's factories have perked up in recent months, buoyed by a government infrastructure building spree and a housing boom.
Fixed-asset investment maintained steady growth in the first ten months, up 8.3 percent year- on-year. Growth in property development investment was 6.6 percent during the period, higher than the 5.8 percent posted in the first nine months.
The yuan's recent depreciation also contributed to the PMI's improvement. The new export orders sub-index accelerated to 50.3 in November, the highest level in more than two years, as a weaker yuan is conducive to boosting the country's exports.
The stronger-than-expected PMI data added to evidence that China's economy has been stabilizing and is on track to meet the government's target of 6.5 to 7 percent growth for the year.
China's economy expanded 6.7 percent in the third quarter, unchanged from the previous two quarters.
The continued expansion of manufacturing shows that the economy has stabilized after a protracted slowdown, said Zhang Liqun, researcher with the Development Research Center of the State Council.
Earlier this week, Fitch Ratings raised its Chinese growth forecast by 0.1 percentage points to 6.7 percent for 2016, and to 6.4 percent for 2017.
"China's efforts to stabilize the economy following the slowdown last year have been more successful than anticipated," Fitch said in its statement.
Although the government's 6.5-percent baseline target for GDP growth this year is firmly within reach, analysts have voiced concerns over the property sector, higher costs and inflationary pressures.
While property investment growth continued to quicken, some have suggested it could be due to a last-minute push by developers to complete construction projects as home sales and surging prices start to slow.
Raw material prices and logistics costs have stayed at high levels. Recent depreciation of the yuan has led to higher costs for importing materials, hitting computer and other electronics industries hard, said NBS statistician Zhao Qinghe.
Small companies were doing much worse than larger ones, with the small business PMI dropping to 47.4 from 48.3 in October.
Analysts also worried that inflationary pressures might increase substantially in the future. The PMI sub-index for raw material prices surged to 68.3 percent in November, up 5.7 percentage points from October.
As lenders limit lending to industries beset with overcapacity, raw material prices are expected to keep rising, pushing the Consumer Price Index (CPI) higher.
China's CPI grew 2.1 percent year-on-year in October, marking its fastest pace in six months as food prices rose, while factory prices beat market expectations to accelerate to a 55-month high of 1.2 percent.
Watch out for inflation in tandem with the expanding economy!
TaiShang
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51 SMEs debut on New Third Board
(Xinhua) 16:17, December 04, 2016
BEIJING, Dec. 4 -- Some 51 small- and medium-sized enterprises (SMEs) were added to China's New Third Board this week, increasing its number of listed companies to 9,786 as of Friday.
Turnover on the board reached 4.65 billion yuan (around 676 million U.S. dollars), up 4.7 percent from a week ago.
A total of 2,304 SMEs have been added to the board since the beginning of 2016, with combined market value of more than 3.74 trillion yuan, latest data showed.
The New Third Board, or National Equities Exchange and Quotation (NEEQ) system, is a national system for SMEs to transfer shares and raise funds.
It began in 2006 as an experimental platform for non-listed, small, high-tech enterprises in Beijing's Zhongguancun Science Park. The present system was established in January 2013.
The NEEQ complements existing stock exchanges as an easier financing channel with low costs and simple listing procedures.
(Xinhua) 16:17, December 04, 2016
BEIJING, Dec. 4 -- Some 51 small- and medium-sized enterprises (SMEs) were added to China's New Third Board this week, increasing its number of listed companies to 9,786 as of Friday.
Turnover on the board reached 4.65 billion yuan (around 676 million U.S. dollars), up 4.7 percent from a week ago.
A total of 2,304 SMEs have been added to the board since the beginning of 2016, with combined market value of more than 3.74 trillion yuan, latest data showed.
The New Third Board, or National Equities Exchange and Quotation (NEEQ) system, is a national system for SMEs to transfer shares and raise funds.
It began in 2006 as an experimental platform for non-listed, small, high-tech enterprises in Beijing's Zhongguancun Science Park. The present system was established in January 2013.
The NEEQ complements existing stock exchanges as an easier financing channel with low costs and simple listing procedures.
ahojunk
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CSRC approves IPO applications of 13 firms
2016-12-03 20:31 | Xinhua | Editor: Wang Fan
The China Securities Regulatory Commission (CSRC) has approved the IPO applications of 13 companies.
The firms will be allowed to raise a maximum total of 7.5 billion yuan (1.09 billion U.S. dollars), a statement said late Friday.
Five of the firms will be listed on the Shanghai bourse, three on the Shenzhen bourse's small- and medium-sized enterprise board, and five on the ChiNext, China's NASDAQ-style board of growth enterprises.
The 13 firms and their underwriters are scheduled to confirm the IPO dates following discussions with the bourses before publishing prospectuses.
The CSRC gave the nod to 52 IPO applications in November, the highest monthly approvals this year.
Fast-tracking new share listings sends a positive signal that the watchdog is trying to restore the financing function of the stock market, said Wei Gang, president of the Capital Market Research Institute under Shanghai Stock Exchange.
The recent up tick in approvals has been met with enthusiasm from enterprises and a steady market, he said.
2016-12-03 20:31 | Xinhua | Editor: Wang Fan
The China Securities Regulatory Commission (CSRC) has approved the IPO applications of 13 companies.
The firms will be allowed to raise a maximum total of 7.5 billion yuan (1.09 billion U.S. dollars), a statement said late Friday.
Five of the firms will be listed on the Shanghai bourse, three on the Shenzhen bourse's small- and medium-sized enterprise board, and five on the ChiNext, China's NASDAQ-style board of growth enterprises.
The 13 firms and their underwriters are scheduled to confirm the IPO dates following discussions with the bourses before publishing prospectuses.
The CSRC gave the nod to 52 IPO applications in November, the highest monthly approvals this year.
Fast-tracking new share listings sends a positive signal that the watchdog is trying to restore the financing function of the stock market, said Wei Gang, president of the Capital Market Research Institute under Shanghai Stock Exchange.
The recent up tick in approvals has been met with enthusiasm from enterprises and a steady market, he said.
samsara
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I think it's called REJUVENATION
when a nation stops rejuvenating, only declining path avails.And complacency is killing!
However, China has set two core centennial goals:
(1) to build an "all-round moderately prosperous society" for the CPC's centennial in 2021; and
(2) to become a "modern socialist country" in time for the People's Republic's centennial in 2049
艹艹艹
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http://fortune.com/2016/12/06/daimler-mercedes-benz-electric-cars-china/
Daimler May Make Mercedes-Benz Electric Cars in China
by Reuters DECEMBER 6, 2016, 6:47 AM EST
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The electric car study of the generation 'EGQ' by Mercedes-Benz being presented during the first press day at the Paris Motor Show (Mondial de l'Automobile) in Paris, France, 29 September 2016.
Photograph by Uli Deck — picture-alliance/dpa/AP Images
As part of a drive to manufacture more products locally.
Daimler may make batteries and Mercedes-Benz electric cars in China as part of a drive to manufacture more products locally and to try to boost sales, according to board member Hubertus Troska.
Sales of the German company’s luxury cars in China have grown 28% so far this year after Mercedes spruced up its designs to give its cars a more sporty and upmarket feel, gaining traction with drivers in the world’s largest car market.
“I am confident that Mercedes in China will show a decent performance next year,” Troska, Daimler’s DDAIF -0.10% board member responsible for Greater China, told reporters.
Sales in 2016 have been better than expected, reaching 429,000 cars, he said, adding demand for locally manufactured cars had helped boost registrations.
“Sales of the C-Class in the past year were phenomenal and we cannot build enough GLCs,” he said, adding the new E-Class would likely add momentum into 2017.
To keep sales going, Mercedes is considering local production of electric cars and batteries.
Building a battery factory in China is “among the options in the room,” Troska said, adding no decision had been made.
Troska declined to say whether Mercedes had set a date to start production of its EQ electric car in China.
Mercedes aims to have more than 10 all-electric vehicles in its portfolio by 2025 and has pledged to produce its EQ model by the end of the decade.
The EQ is based on a C-Class platform which is already being made in China and local authorities are encouraging production in the country.
“The strategic plan by the authorities is to push battery electric vehicles. We continue to invest in both battery electric cars and hybrid,” Troska said, adding the lack of battery charging infrastructure meant hybrids would be an alternative in the interim.
Efforts to bring down pollution have led Chinese authorities to come up with a new system of incentives to encourage sales of zero emission cars.
Chinese authorities are considering a system of trading credits for low polluting cars much like one in California, Troska said.
This month, China introduced a 10 percent tax on luxury cars costing more than 1.3 million yuan ($189,000).
But it is not expected to significantly dent sales, as customers were already prepared to pay high prices for some top-end Mercedes models such as the Maybach S-Class, with around 500 of the model selling each month, Troska said.
Overall, Chinese customers still prefer sedans to sport-utility vehicles (SUVs), although there has been a shift toward the smaller C-Class rather than the E-Class. Demand for SUVs continues to grow, Troska added.
Beijing Benz Automotive Co. (BBAC) has been producing Mercedes passenger cars since 2005. In 2015, more than two thirds of Mercedes vehicles in China were produced locally.
Daimler May Make Mercedes-Benz Electric Cars in China
by Reuters DECEMBER 6, 2016, 6:47 AM EST
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The electric car study of the generation 'EGQ' by Mercedes-Benz being presented during the first press day at the Paris Motor Show (Mondial de l'Automobile) in Paris, France, 29 September 2016.
Photograph by Uli Deck — picture-alliance/dpa/AP Images
As part of a drive to manufacture more products locally.
Daimler may make batteries and Mercedes-Benz electric cars in China as part of a drive to manufacture more products locally and to try to boost sales, according to board member Hubertus Troska.
Sales of the German company’s luxury cars in China have grown 28% so far this year after Mercedes spruced up its designs to give its cars a more sporty and upmarket feel, gaining traction with drivers in the world’s largest car market.
“I am confident that Mercedes in China will show a decent performance next year,” Troska, Daimler’s DDAIF -0.10% board member responsible for Greater China, told reporters.
Sales in 2016 have been better than expected, reaching 429,000 cars, he said, adding demand for locally manufactured cars had helped boost registrations.
“Sales of the C-Class in the past year were phenomenal and we cannot build enough GLCs,” he said, adding the new E-Class would likely add momentum into 2017.
To keep sales going, Mercedes is considering local production of electric cars and batteries.
Building a battery factory in China is “among the options in the room,” Troska said, adding no decision had been made.
Troska declined to say whether Mercedes had set a date to start production of its EQ electric car in China.
Mercedes aims to have more than 10 all-electric vehicles in its portfolio by 2025 and has pledged to produce its EQ model by the end of the decade.
The EQ is based on a C-Class platform which is already being made in China and local authorities are encouraging production in the country.
“The strategic plan by the authorities is to push battery electric vehicles. We continue to invest in both battery electric cars and hybrid,” Troska said, adding the lack of battery charging infrastructure meant hybrids would be an alternative in the interim.
Efforts to bring down pollution have led Chinese authorities to come up with a new system of incentives to encourage sales of zero emission cars.
Chinese authorities are considering a system of trading credits for low polluting cars much like one in California, Troska said.
This month, China introduced a 10 percent tax on luxury cars costing more than 1.3 million yuan ($189,000).
But it is not expected to significantly dent sales, as customers were already prepared to pay high prices for some top-end Mercedes models such as the Maybach S-Class, with around 500 of the model selling each month, Troska said.
Overall, Chinese customers still prefer sedans to sport-utility vehicles (SUVs), although there has been a shift toward the smaller C-Class rather than the E-Class. Demand for SUVs continues to grow, Troska added.
Beijing Benz Automotive Co. (BBAC) has been producing Mercedes passenger cars since 2005. In 2015, more than two thirds of Mercedes vehicles in China were produced locally.
TaiShang
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China to issue 14 bln yuan in treasury bonds in HK
Xinhua, December 7, 2016
China's Ministry of Finance (MOF) said Tuesday it will issue yuan-denominated treasury bonds worth 14 billion yuan (2.04 billion U.S. dollars) in Hong Kong this week.
A total of 12 billion yuan in bonds will be sold to institutional investors in Hong Kong, while another 2 billion yuan will be issued to individual residents, according to the ministry.
After the issuance, the bonds will be traded on the Hong Kong Stock Exchange.
The issuance will bring bond sales to Hong Kong to 28 billion yuan this year. The first round of bonds worth 14 billion yuan was issued on June 29.
The ministry started selling yuan-denominated treasury bonds in Hong Kong in September 2009 to boost the region's economy and speed up the expansion of offshore yuan business.
Xinhua, December 7, 2016
China's Ministry of Finance (MOF) said Tuesday it will issue yuan-denominated treasury bonds worth 14 billion yuan (2.04 billion U.S. dollars) in Hong Kong this week.
A total of 12 billion yuan in bonds will be sold to institutional investors in Hong Kong, while another 2 billion yuan will be issued to individual residents, according to the ministry.
After the issuance, the bonds will be traded on the Hong Kong Stock Exchange.
The issuance will bring bond sales to Hong Kong to 28 billion yuan this year. The first round of bonds worth 14 billion yuan was issued on June 29.
The ministry started selling yuan-denominated treasury bonds in Hong Kong in September 2009 to boost the region's economy and speed up the expansion of offshore yuan business.
JSCh
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China Exports Rise for First Time in Eight Months as Imports Surge
By Chen Na
(Beijing) — China's exports and imports both increased in November, reversing months of decline and reflecting an uptick in global demand and stabilization of the world's second-largest economy.
Exports grew for the first time in eight months to $196.8 billion last month with a 0.1% uptick compared to a year earlier, reversing October's 7.3% decline, according to data released by the General Administration of Customs on Thursday.
Imports rose 6.7% to $152.2 billion, the highest growth rate since September 2014.
Both readings defied estimates in a Caixin survey of 15 financial institutions, whose economists projected exports would drop 4.8% and imports would fall 2.8%.
That brought the November trade surplus to $44.61 billion, down from $49.06 billion a month earlier.
Trade gains were even stronger when measured in China's currency, which has weakened against the dollar. In yuan terms, exports rose 5.9% from a year earlier while imports jumped 13%.
"The improvement (in exports) reflects a strengthening in global demand, with recent business surveys suggesting that developed economies are on track to end the year on a strong note," Julian Evans-Pritchard, Capital Economics' China economist, said in a note.
Exports to China's top two destinations — the United States and the European Union— rose 12.7% and 5.1% respectively, as signs show that the world's leading economies are stabilizing and global demand is strengthening, said Liu Yaxin, a macroeconomic analyst at China Merchants Securities Co. Ltd.
Toy export growth accelerated by 53.9%, showing better Christmas demand this year than last year.
Imports of major commodities, including iron ore, crude oil, coal and soybeans, also rose in November. The improvement was mostly driven by strong domestic demand and a recent pickup in the global price of commodities, Liu said.
However, uncertainty in international relations may cast a shadow on the future outlook for China's global trade, economists warned. U.S. President-elect Donald Trump has repeatedly criticized China for allegedly manipulating its currency and vowed during his campaign to impose tariffs on goods imported from China.
"While we think that Trump will mostly likely stop short of enacting damaging protectionist measures, his election has nonetheless set back global efforts to reduce trade barriers," Evans-Pritchard said.
By Chen Na
(Beijing) — China's exports and imports both increased in November, reversing months of decline and reflecting an uptick in global demand and stabilization of the world's second-largest economy.
Exports grew for the first time in eight months to $196.8 billion last month with a 0.1% uptick compared to a year earlier, reversing October's 7.3% decline, according to data released by the General Administration of Customs on Thursday.
Imports rose 6.7% to $152.2 billion, the highest growth rate since September 2014.
Both readings defied estimates in a Caixin survey of 15 financial institutions, whose economists projected exports would drop 4.8% and imports would fall 2.8%.
That brought the November trade surplus to $44.61 billion, down from $49.06 billion a month earlier.
Trade gains were even stronger when measured in China's currency, which has weakened against the dollar. In yuan terms, exports rose 5.9% from a year earlier while imports jumped 13%.
"The improvement (in exports) reflects a strengthening in global demand, with recent business surveys suggesting that developed economies are on track to end the year on a strong note," Julian Evans-Pritchard, Capital Economics' China economist, said in a note.
Exports to China's top two destinations — the United States and the European Union— rose 12.7% and 5.1% respectively, as signs show that the world's leading economies are stabilizing and global demand is strengthening, said Liu Yaxin, a macroeconomic analyst at China Merchants Securities Co. Ltd.
Toy export growth accelerated by 53.9%, showing better Christmas demand this year than last year.
Imports of major commodities, including iron ore, crude oil, coal and soybeans, also rose in November. The improvement was mostly driven by strong domestic demand and a recent pickup in the global price of commodities, Liu said.
However, uncertainty in international relations may cast a shadow on the future outlook for China's global trade, economists warned. U.S. President-elect Donald Trump has repeatedly criticized China for allegedly manipulating its currency and vowed during his campaign to impose tariffs on goods imported from China.
"While we think that Trump will mostly likely stop short of enacting damaging protectionist measures, his election has nonetheless set back global efforts to reduce trade barriers," Evans-Pritchard said.
JSCh
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China's producer price records five-year high in November
Xinhua Finance in BEIJING
2016-12-09 09:38
China's producer price index (PPI), which measures costs for goods at the factory gate, beat market expectations to reach a five-year high in November, official data showed Friday.
The reading rose 3.3 percent year on year, the highest reading since October 2011, according to the National Bureau of Statistics (NBS).
On a month-to-month basis, it increased 1.5 percent. Factors including rising prices of coal and steel might lead to continuous rises in PPI, analysts pointed out.
The PPI figures came along with the release of the consumer price index, which rose 2.3 percent year on year in November, and gained 0.1 percent on a monthly basis.
Xinhua Finance in BEIJING
2016-12-09 09:42
China's consumer price index (CPI), a main gauge of inflation, grew 2.3 percent year on year in November, up from October's 2.1 percent, the National Bureau of Statistics (NBS) announced Friday.
On a month-on-month basis, the CPI rose 0.1 percent in November.
NBS statistician Sheng Guoqing attributed the stronger growth of inflation to higher food and fuel prices. Vegetable prices jumped 5.5 percent month on month, as a cold weather front disrupted supplies, contributing 0.14 percentage points to the CPI growth.
On a year-on-year basis, vegetable prices soared 15.8 percent, compared with 13-percent increase in October.
Prices of petrol, diesel, gas, coal, water and electricity also increased last month, again due to the cold weather. However, prices of fruit and pork continued to fall from October, down 2.2 percent and 1.9 percent.
In addition, tourism costs including flight prices dipped, as the winter is a low season for travel. Since January 2016, CPI has been calculated using a new comparison base and included more products and services, while slightly reducing the weighting of food.
Xinhua Finance in BEIJING
2016-12-09 09:38
China's producer price index (PPI), which measures costs for goods at the factory gate, beat market expectations to reach a five-year high in November, official data showed Friday.
The reading rose 3.3 percent year on year, the highest reading since October 2011, according to the National Bureau of Statistics (NBS).
On a month-to-month basis, it increased 1.5 percent. Factors including rising prices of coal and steel might lead to continuous rises in PPI, analysts pointed out.
The PPI figures came along with the release of the consumer price index, which rose 2.3 percent year on year in November, and gained 0.1 percent on a monthly basis.
#####
China consumer prices up 2.3 pct in November
Xinhua Finance in BEIJING
2016-12-09 09:42
China's consumer price index (CPI), a main gauge of inflation, grew 2.3 percent year on year in November, up from October's 2.1 percent, the National Bureau of Statistics (NBS) announced Friday.
On a month-on-month basis, the CPI rose 0.1 percent in November.
NBS statistician Sheng Guoqing attributed the stronger growth of inflation to higher food and fuel prices. Vegetable prices jumped 5.5 percent month on month, as a cold weather front disrupted supplies, contributing 0.14 percentage points to the CPI growth.
On a year-on-year basis, vegetable prices soared 15.8 percent, compared with 13-percent increase in October.
Prices of petrol, diesel, gas, coal, water and electricity also increased last month, again due to the cold weather. However, prices of fruit and pork continued to fall from October, down 2.2 percent and 1.9 percent.
In addition, tourism costs including flight prices dipped, as the winter is a low season for travel. Since January 2016, CPI has been calculated using a new comparison base and included more products and services, while slightly reducing the weighting of food.
F-22Raptor
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WASHINGTON—The Obama administration has decided it won’t grant China the official market-economy status Beijing thinks it deserves, a move sure to raise tension, as China pushes the U.S. and other countries to ratchet down import tariffs.
China contends Washington and other members of the World Trade Organization should grant it market-economy status on Sunday, the 15th-anniversary of its WTO accession, under the terms of its joining the group.
But the Obama administration disagrees. “The U.S. is not changing China’s status as a non-market-economy,” a senior U.S. administration official said in an interview. “China’s protocol of accession to the WTO doesn't require the U.S. or any other WTO member to automatically grant China market-economy status after December 11 2016.”
Market-economy status can dramatically lower tariffs WTO members can apply in cases charging another country with violating trade terms.
The incoming Donald Trump White House isn’t likely to reverse the Obama administration’s decision, given the president-elect and his transition team have said they plan to place higher tariffs on Chinese imports, blaming Beijing for many of the American economy’s ailments.
Mr. Trump, at a rally in Iowa on Thursday, said: “China is not a market economy.” He cited alleged dumping of artificially low-price goods on the U.S. market and theft of intellectual property by Chinese companies. “They haven’t played by the rules, and they know it’s time that they’re going to start,” he said.
Meanwhile, the Obama administration says China must formally file a case challenging U.S. treatment, something Beijing has yet to do.
Even though the senior Obama administration official said the U.S. would have to decide on the merits of a challenge, the person signaled Washington wouldn’t likely change its outlook. “If China wants to benefit from treatment as a market-economy country, it must change its own practices to let the market play a decisive role in the economy,” the official said.
Tension between the U.S. and China has been elevated in recent years over a host strategic and economic issues. The Obama administration has filed scores of anti-dumping and counter-valuing duties on Chinese imports, from shrimp to steel to solar cells. “Maintaining China’s status as a nonmarket economy is yet another step in the Obama administration’s vigorous enforcement of trade laws against China and holding China to its WTO commitments,” the senior official said.
But since Mr. Trump has put China in his trade-policy crosshairs, those strains are expected to intensify.
Although China’s leadership has said in recent years that it plans to make its economy more market-driven, U.S. officials and companies complain Beijing has in many cases made things more difficult.
China’s state-owned enterprises are still deeply integrated in nearly every aspect of the country’s economy and international acquisitions. U.S. companies complain government subsidies give Chinese firms an unfair advantage. That behavior by the Chinese has led to one of the biggest trade frictions in recent years: China’s huge excess steel production capacity that is pushing down prices globally.
Officials in Washington are also frustrated about the lack of access for U.S. investment in China. “China’s failure to take action and in some ways becoming even less open, has given rise to increased trade frictions and has led to global firms to question their ability to succeed in that market,” the official said.
http://www.wsj.com/articles/u-s-won...my-status-u-s-senior-official-says-1481318577
China contends Washington and other members of the World Trade Organization should grant it market-economy status on Sunday, the 15th-anniversary of its WTO accession, under the terms of its joining the group.
But the Obama administration disagrees. “The U.S. is not changing China’s status as a non-market-economy,” a senior U.S. administration official said in an interview. “China’s protocol of accession to the WTO doesn't require the U.S. or any other WTO member to automatically grant China market-economy status after December 11 2016.”
Market-economy status can dramatically lower tariffs WTO members can apply in cases charging another country with violating trade terms.
The incoming Donald Trump White House isn’t likely to reverse the Obama administration’s decision, given the president-elect and his transition team have said they plan to place higher tariffs on Chinese imports, blaming Beijing for many of the American economy’s ailments.
Mr. Trump, at a rally in Iowa on Thursday, said: “China is not a market economy.” He cited alleged dumping of artificially low-price goods on the U.S. market and theft of intellectual property by Chinese companies. “They haven’t played by the rules, and they know it’s time that they’re going to start,” he said.
Meanwhile, the Obama administration says China must formally file a case challenging U.S. treatment, something Beijing has yet to do.
Even though the senior Obama administration official said the U.S. would have to decide on the merits of a challenge, the person signaled Washington wouldn’t likely change its outlook. “If China wants to benefit from treatment as a market-economy country, it must change its own practices to let the market play a decisive role in the economy,” the official said.
Tension between the U.S. and China has been elevated in recent years over a host strategic and economic issues. The Obama administration has filed scores of anti-dumping and counter-valuing duties on Chinese imports, from shrimp to steel to solar cells. “Maintaining China’s status as a nonmarket economy is yet another step in the Obama administration’s vigorous enforcement of trade laws against China and holding China to its WTO commitments,” the senior official said.
But since Mr. Trump has put China in his trade-policy crosshairs, those strains are expected to intensify.
Although China’s leadership has said in recent years that it plans to make its economy more market-driven, U.S. officials and companies complain Beijing has in many cases made things more difficult.
China’s state-owned enterprises are still deeply integrated in nearly every aspect of the country’s economy and international acquisitions. U.S. companies complain government subsidies give Chinese firms an unfair advantage. That behavior by the Chinese has led to one of the biggest trade frictions in recent years: China’s huge excess steel production capacity that is pushing down prices globally.
Officials in Washington are also frustrated about the lack of access for U.S. investment in China. “China’s failure to take action and in some ways becoming even less open, has given rise to increased trade frictions and has led to global firms to question their ability to succeed in that market,” the official said.
http://www.wsj.com/articles/u-s-won...my-status-u-s-senior-official-says-1481318577
ahojunk
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Gov't to complete VAT procedure by end of 2020
2016-12-06 14:05 | chinadaily.com.cn | Editor: Xu Shanshan
China has started the legislation procedure of value added tax (VAT) and expects to complete it by the end of 2020, a senior official with Ministry of Finance said on Monday.
The country's reform program to replace the business tax with a VAT has been carried under interim regulations theses years.
Yuan Haiyao, deputy head of Department of Tax and Policy under the ministry, said the ministry would simplify, reduce the number of VAT rates, and clear up some preferential policies that may not be applicable in the future.
Yuan said the ministry is studying problems found since the nationwide reform was rolled out in May.
His comments come after vice-finance minister, Shi Yaobin, said on Friday at a news briefing that China would continue to simplify the rates after the smooth rolling out of the process in which more than 10 million taxpayers are involved.
Shi said the tax cut in the business sector helped ease the downward economic pressure.
Official data showed that a total of 96.5 billion yuan ($14 billion) had been saved by the end of October.
A total of 500 billion yuan is expected to be saved by the year-end, taking into account other forms of tax reductions, added Shi.
2016-12-06 14:05 | chinadaily.com.cn | Editor: Xu Shanshan
China has started the legislation procedure of value added tax (VAT) and expects to complete it by the end of 2020, a senior official with Ministry of Finance said on Monday.
The country's reform program to replace the business tax with a VAT has been carried under interim regulations theses years.
Yuan Haiyao, deputy head of Department of Tax and Policy under the ministry, said the ministry would simplify, reduce the number of VAT rates, and clear up some preferential policies that may not be applicable in the future.
Yuan said the ministry is studying problems found since the nationwide reform was rolled out in May.
His comments come after vice-finance minister, Shi Yaobin, said on Friday at a news briefing that China would continue to simplify the rates after the smooth rolling out of the process in which more than 10 million taxpayers are involved.
Shi said the tax cut in the business sector helped ease the downward economic pressure.
Official data showed that a total of 96.5 billion yuan ($14 billion) had been saved by the end of October.
A total of 500 billion yuan is expected to be saved by the year-end, taking into account other forms of tax reductions, added Shi.
JSCh
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China's fixed-asset investment up 8.3 pct in first 11 months
Xinhua 2016-12-13 10:08
China's fixed-asset investment (FAI) rose 8.3 percent year on year to 53.85 trillion yuan (about 7.8 trillion U.S. dollars) in the first 11 months of 2016, data showed Tuesday. The growth remained unchanged from the January-October period, the National Bureau of Statistics (NBS) said.
Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets. Infrastructure investment expanded 18.9 percent in the first 11 months, while FAI in high-tech industries surged 15.9 percent during the period, according to NBS data.
FAI by state-owned enterprises climbed 20.2 percent year on year during the period. Private sector FAI, which accounts for more than 60 percent of the total FAI, grew 3.1 percent in the first 11 months, accelerating from 2.9 percent in the first 10 months.
Growth in property development investment fell slightly to 6.5 percent for the January-November period, after rapid housing price rises in major cities forced the country to impose restrictions on home purchases.
Other indicators released by the NBS included industrial production and retail sales, pointing to stabilization in the world's second-largest economy.
China retail sales growth quickens to 10.8 pct in November
China's retail sales of consumer goods grew 10.8 percent year on year in November, accelerating from the 10-percent rise posted for October, data showed Tuesday.
Total retail sales of consumer goods hit 3.1 trillion yuan (449.9 billion U.S. dollars) last month, according to the National Bureau of Statistics (NBS).
The data showed strong consumption potential in rural areas, with retail sales expanding 11 percent, outpacing the 10.8-percent rate in urban areas.
In the first 11 months of the year, China's retail sales of consumer goods rose 10.4 percent year on year to 30 trillion yuan.
Online spending also did well. From January to November, online sales surged 26.2 percent year on year to 4.6 trillion yuan. On Singles' Day, Nov. 11, Chinese splurged more than 120 billion yuan on leading online market place Alibaba.
Retail sales have contributed significantly to China's economic growth as the country shifts from an export-driven economy to a consumer society.
Consumption contributed 73.4 percent of China's economic expansion in the first half of 2016, official data showed.
China's industrial output expands 6.2 pct in November
China's industrial output expanded 6.2 percent year on year in November, thanks largely to the electronic equipment and automobile sectors, official data showed Tuesday.
The growth rate is 0.1 percentage points higher than October, according to the National Bureau of Statistics (NBS). Industrial output in the first 11 months this year grew 6 percent from the previous year, holding steady from the pace of the first ten months, NBS figures revealed.
Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with annual turnover of at least 20 million yuan (2.9 million U.S. dollars).
China's property investment cools in Jan.-Nov.
Investment in China's property sector cooled in the first 11 months of 2016 as measures rolled out by the central government to rein in house prices begin to make a difference, official data showed Tuesday.
Real estate investment rose 6.5 percent year on year in the first 11 months of 2016, slightly lower than the 6.6 percent registered during the January-October period, according to the National Bureau of Statistics (NBS).
For residential property, investment rose 6 percent year on year, accounting for 67 percent of investment in the sector.
Housing sales maintained steady growth. In terms of floor area, property sales jumped 24.3 percent in the first 11 months.
By the end of November, 690.95 million square meters of property remained unsold in China, down 4.27 million square meters from a month earlier.
China's property market has become increasingly diversified, with major cities reporting record prices and smaller cities struggling to shift the glut.
The split picture means the government still needs to strike a balance between curbing asset bubbles in big cities and boosting sales in smaller cities.
The central government is confident that its measures will continue to cool the overheated property market. Since late September, a wave of property restrictions introduced to more than 20 cities -- including Beijing, Shanghai and Shenzhen -- have cooled speculation, reduced transactions, reduced the risk of asset bubbles and stabilized the market.
Xinhua 2016-12-13 10:08
China's fixed-asset investment (FAI) rose 8.3 percent year on year to 53.85 trillion yuan (about 7.8 trillion U.S. dollars) in the first 11 months of 2016, data showed Tuesday. The growth remained unchanged from the January-October period, the National Bureau of Statistics (NBS) said.
Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets. Infrastructure investment expanded 18.9 percent in the first 11 months, while FAI in high-tech industries surged 15.9 percent during the period, according to NBS data.
FAI by state-owned enterprises climbed 20.2 percent year on year during the period. Private sector FAI, which accounts for more than 60 percent of the total FAI, grew 3.1 percent in the first 11 months, accelerating from 2.9 percent in the first 10 months.
Growth in property development investment fell slightly to 6.5 percent for the January-November period, after rapid housing price rises in major cities forced the country to impose restrictions on home purchases.
Other indicators released by the NBS included industrial production and retail sales, pointing to stabilization in the world's second-largest economy.
China retail sales growth quickens to 10.8 pct in November
China's retail sales of consumer goods grew 10.8 percent year on year in November, accelerating from the 10-percent rise posted for October, data showed Tuesday.
Total retail sales of consumer goods hit 3.1 trillion yuan (449.9 billion U.S. dollars) last month, according to the National Bureau of Statistics (NBS).
The data showed strong consumption potential in rural areas, with retail sales expanding 11 percent, outpacing the 10.8-percent rate in urban areas.
In the first 11 months of the year, China's retail sales of consumer goods rose 10.4 percent year on year to 30 trillion yuan.
Online spending also did well. From January to November, online sales surged 26.2 percent year on year to 4.6 trillion yuan. On Singles' Day, Nov. 11, Chinese splurged more than 120 billion yuan on leading online market place Alibaba.
Retail sales have contributed significantly to China's economic growth as the country shifts from an export-driven economy to a consumer society.
Consumption contributed 73.4 percent of China's economic expansion in the first half of 2016, official data showed.
China's industrial output expands 6.2 pct in November
China's industrial output expanded 6.2 percent year on year in November, thanks largely to the electronic equipment and automobile sectors, official data showed Tuesday.
The growth rate is 0.1 percentage points higher than October, according to the National Bureau of Statistics (NBS). Industrial output in the first 11 months this year grew 6 percent from the previous year, holding steady from the pace of the first ten months, NBS figures revealed.
Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with annual turnover of at least 20 million yuan (2.9 million U.S. dollars).
China's property investment cools in Jan.-Nov.
Investment in China's property sector cooled in the first 11 months of 2016 as measures rolled out by the central government to rein in house prices begin to make a difference, official data showed Tuesday.
Real estate investment rose 6.5 percent year on year in the first 11 months of 2016, slightly lower than the 6.6 percent registered during the January-October period, according to the National Bureau of Statistics (NBS).
For residential property, investment rose 6 percent year on year, accounting for 67 percent of investment in the sector.
Housing sales maintained steady growth. In terms of floor area, property sales jumped 24.3 percent in the first 11 months.
By the end of November, 690.95 million square meters of property remained unsold in China, down 4.27 million square meters from a month earlier.
China's property market has become increasingly diversified, with major cities reporting record prices and smaller cities struggling to shift the glut.
The split picture means the government still needs to strike a balance between curbing asset bubbles in big cities and boosting sales in smaller cities.
The central government is confident that its measures will continue to cool the overheated property market. Since late September, a wave of property restrictions introduced to more than 20 cities -- including Beijing, Shanghai and Shenzhen -- have cooled speculation, reduced transactions, reduced the risk of asset bubbles and stabilized the market.
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