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China industrial output rises 6.1% in August, retail sales grew 10.8 per cent

Discussion in 'China & Far East' started by TaiShang, Sep 14, 2015.

  1. TaiShang

    TaiShang ELITE MEMBER

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    China industrial output rises 6.1% in August
    September 13, 2015, 6:43 am



    [​IMG]
    A labourer works at a spinning mill in Xiajin County, east China’s Shandong Province, June 12, 2014 [Xinhua]

    China’s value-added industrial output expanded 6.1 per cent year on year in August, up from 6 per cent in July, the National Bureau of Statistics said on Sunday.

    China’s retail sales grew 10.8 per cent year on year to 2.49 trillion yuan ($390.89 billion) in August, higher than forecasts.

    Beijing has set its official growth target for 2015 at 7 per cent.

    Fixed asset investment, a measure of government spending on infrastructure, expanded 10.9 per cent on-year in the January-August period.

    China’s economy expanded 7.3 per cent in 2014.

    After 30 years of unprecedented economic expansion during which nearly 800 million people were raised out of poverty, China’s growth model is beginning to show signs of stress.
     
  2. TaiShang

    TaiShang ELITE MEMBER

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    ***

    China industrial output up 6.1% in August
    By Agencies

    BEIJING - China's value-added industrial output expanded 6.1 percent year on year in August, the National Bureau of Statistics (NBS) said on Sunday.

    The growth rate was up slightly from 6 percent in July.

    NBS statistician Jiang Yuan attributed the month-on-month increase to improving performance in key industrial sectors and accelerated growth in high-tech industries. In August, high-tech manufacturing grew by 10.5 percent year on year and the growth rate was up 0.9 percentage points from July.

    Despite the growth, industrial output still faces remarkable downward pressure due to flagging demand, Jiang said.

    Year-on-year growth in the first eight months stood at 6.3 percent, the same growth level as the first seven months.

    China uses value-added industrial output to measure the final value of industrial production, or the value of gross industrial output minus intermediate input, such as raw materials and labor costs.

    The NBS data only tracks the output of large Chinese companies with annual primary business revenues of more than 20 million yuan (US$3.16 million).

    The figures also showed that industrial output in China's central regions rose by 8.2 percent in August year on year, trailed by 7.7 percent in western areas and and 6.2 percent in eastern regions. Industrial output in the northeastern areas dropped 0.4 percent.

    Manufacturing output rose 6.8 percent, mining output added 4 percent, while output of the electricity, heating, gas and water sectors increased 1.9 percent, the bureau said.
     
  3. AndrewJin

    AndrewJin ELITE MEMBER

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    BUY BUY BUY!
    Last year, the number was 4.28 trillion US dollars.
    This year at least 4.8 trillion!


    BEIJING, Jan. 20 (Xinhua) -- China's retail sales rose 12 percent year on year in 2014 to 26.24 trillion yuan (4.28 trillion U.S. dollars), the National Bureau of Statistics said on Tuesday.

    Retail sales, a key indicator of consumer spending, continued to accelerate in December, rising 11.9 percent from a year earlier.

    The figure was up from November's 11.7 percent and October's 11.5 percent.

    "Retail sales strengthened, suggesting some progress in much-needed economic rebalancing from investment towards consumption," Nomura economists wrote in a research note after the release of economic data.

    Retail sales growth in rural areas outpaced that in urban China. Last year, sales in rural regions rose 12.9 percent from a year ago, while sales in urban areas climbed 11.8 percent.

    Online sales showed robust growth, soaring 49.7 percent year on year in 2014 to 2.79 trillion yuan.

    Consumption has been a bright spot in the Chinese economy, which is confronting slowing domestic investment growth and a weak global recovery.

    China's gross domestic product (GDP) grew 7.4 percent in 2014, registering its weakest expansion in 24 years.

    Consumption contributed 51.2 percent to GDP growth last year, three percentage points more than the previous year.

    Looking ahead at 2015, retail sales are expected to rise 12.2 percent year on year, according to a working paper published last month by a group of economists of the People's Bank of China.
     
  4. TaiShang

    TaiShang ELITE MEMBER

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    The new normal. :)

    China's new growth engine taking shape
    September 13, 2015

    China's economy has enormous potential, and new growth engines are taking shape thanks to reform and pro-growth measures, a senior economist said Saturday.

    The Chinese economy is faced with significant downward pressure and a complex economic environment both in China and abroad, Li Wei, head of the Development Research Center of the State Council, a top government think tank, told a forum in Beijing.

    Deepening reform measures carried out in the past two years are delivering benefits and unleashing development momentum for the economy, Li said.

    In the meantime, entrepreneurship and innovation have unlocked people's creativity and entrepreneurial passion, which are becoming an engine to power economic growth, he said.

    China has a labor force of 900 million and over 7 million college graduates every year, with a growing number becoming entrepreneurs and joining innovation industries.

    Li also said China is undergoing new types of industrialization, urbanization and agricultural modernization, which all serve to generate strong domestic demand.

    The Chinese economy, which had a gross domestic product of 10 trillion U.S. dollars in 2014, is slowing down to what is officially called the "new normal."

    The government has rolled out a raft of bold reform measures and pro-growth policies, aiming to relieve the downward pressure.

    In a speech at Summer Davos in the port city of Dalian on Thursday, Premier Li Keqiang said China's new economic growth areas are rapidly taking shape and China's economic structure is quickly improving.

    The service sector already accounts for half of China's GDP, and consumption contributes 60 percent to growth. Consumer demand for information, cultural and health products, and tourism are booming, the premier said.
     
  5. 55100864

    55100864 FULL MEMBER

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    into the arm of collapsing dragon :D:D
     
  6. AndrewJin

    AndrewJin ELITE MEMBER

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    Negative growth, cheers!
     
  7. TaiShang

    TaiShang ELITE MEMBER

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    Internet giants' healthy future in China
    September 14, 2015

    [​IMG]

    A medical worker shows a patient how to use WeChat to access hospital services in Foshan, Guangdong province. [Photo provided to China Daily]

    Outpatients used to have to join long, snaking lines outside of the pharmacy at Hubei Chest Hospital before picking up their prescription drugs.

    Similar scenes were, and still are, common at most medical clinics across the country.

    But now a pilot plan rolled out by Alibaba Group Holding Ltd and Hubei Chest Hospital in March is changing all that as the healthcare sector embraces the Internet age.

    Instead of waiting in line, outpatients can download the hospital's mobile app before ordering and paying for their prescriptions online, which are then delivered to their homes.

    "Although China's Internet healthcare industry is still in infancy, it has lured the country's Internet heavyweights, which are determined to reshape the sector with technology and service-oriented mindset," said Lin Wenbin, a senior analyst at research company Analysys International.

    At the click of a button, the healthcare sector in China is being revolutionized by Internet innovation.

    Patients are reaping the benefits as hospitals, clinics and pharmacies team up with major Web players, such as Alibaba, Tencent Holdings Ltd and Baidu Inc, to produce services ranging from online consultations to health data information.

    At Hubei Chest Hospital, the smart app project links up pharmacies within a three-kilometer radius with an e-prescription system based on Alibaba technology.

    "In future, this will drive more traffic to drugstores and further relieve pressure on the hospital," said Li Denghui, president of Hebei Chest Hospital.

    Hundreds of medical institutions in China are undergoing a rapid transformation by using online technology. In April, Alibaba launched an initiative called Cloud Hospital, to promote partnerships between medical centers across the country. The program is already up and running at Hubei Chest Hospital.

    In July, Baidu Inc signed a strategic partnership with EZTcn.com, a mobile healthcare service provider, which helps people make an appointment online to see a doctor.

    [​IMG]

    A maternity nurse tells a pregnant woman that she can use her WeChat to consult doctors about her physical conditions. [Photo provided to China Daily]

    Social media heavyweight Tencent has also moved into the sector. So far this year, it has signed partnership deals with medical instrument manufacturers Guangdong Biolight Meditech Co Ltd in China and Scanadu, a Silicon Valley-based medical devices maker in the United States.

    This comes at a time when the online healthcare market is poised for huge growth.

    A report by Analysys International showed the industry was worth 11.4 billion yuan ($1.79 billion) last year, an increase of 22.6 percent compared to the same period in 2013.

    Overall, the healthcare sector in China was worth 2.63 trillion yuan ($413 billion) in 2014, according to data from Deloitte Touche Tohmatsu Ltd.

    "With an aging population and increasing public awareness on fitness and health, more people will rely on online and mobile platforms to enjoy medical services," Lin, of Analysys International, said. "The market will grow into an industry of 36.5 billion yuan in 2017."

    But there are challenges ahead as the healthcare industry is controlled and funded by government organizations.

    Indeed, prescription drugs can not be sold on Alibaba's e-commerce site Tmall, even though it already deals in over-the-counter medicines. "Only when the government greenlights more medical businesses to private players, will the online health market really boom," Qin Zexi, an analyst at research firm iResearch Consulting Group, said.

    Still, Alibaba, Tencent and Baidu are making significant progress. Patients can now use online platforms, such as Alibaba's Alipay and Tencent's WeChat, to consult doctors, make appointments, pay bills and check medical reports. In the past few years, medical delivery service apps have also mushroomed.

    In the near future, "telediagnosis" is another area the Internet big three will probably move into. This is a process whereby a disease diagnosis, or prognosis, is made by the electronic transmission of data between distant medical centers. Technology will play a key role in this.

    "The Internet trio are spending heavily in the sector, but currently most of their services don't touch upon the key aspect of telediagnosis," Qin said. "As more public hospitals embrace online technology and Internet companies, telediagnosis will become a growing trend."

    For now, Internet companies are carving out niche roles in the healthcare industry.

    Baidu is concentrating on big data technology, a broad term for processing vast amounts of complex statistics, which can be boiled down into market trends. Around 26 million people search for medical information on its platform, according to the company.

    [​IMG]

    A doctor talks with his patient via an online terminal at a hospital in Beijing. [Photo provided to China Daily]

    In July, it rolled out a cloud computing project in partnership with the Beijing municipal government. This involves analyzing and storing health-related data from smart devices.

    "Unlike Alibaba which has to tempt companies to its platforms before accumulating pharmacy business data, Baidu is a natural accumulator of records," Lin said,

    As for Tencent, it has invested $70 million in dxy.cn, the largest online medical community in China, and provided funding for guahao.com, which makes appointments with doctors online. These portals are now on WeChat, which allows them to access the site's 600 million regular users each month.

    "WeChat is an ideal platform to offer customized or personalized medical services because it can accurately profile users," Qin said.

    Naturally, Alibaba has even bigger plans. It already sells over-the-counter medicines online and could now expand into health insurance.

    "Alibaba is now heavily involved in the medical industry chain," Qin said. "Compared with Tencent and Baidu, it has greater internal resources in online medical care, which will give it an edge in developing more products."

    Earlier this year, Alibaba Health Information Technology linked up China Pacific Insurance (Group) Co Ltd. "We don't rule out the possibility of rolling out Yu'ebao-like online health insurance product in the future," Zhang Lei, who is in charge of public relations for Alibaba Health, said, referring to Yu'ebao's popular online investment fund.

    [​IMG]
     
  8. jkroo

    jkroo FULL MEMBER

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    National Day and Mid Autumn Festival come soon and then 11.11 shopping festival. Do you feels exciting? Everybody.
     
  9. TaiShang

    TaiShang ELITE MEMBER

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    Dates that will put Black Friday to shame :partay:
     
  10. jkroo

    jkroo FULL MEMBER

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    Yeah. I need these holidays to have a good rest and I am waiting to 11.11 to got huge discount to buy auto parts, electronic devices and so on.

    I feel a little nervous for how to control my wife's shopping budget. :D:D:D
     
  11. TaiShang

    TaiShang ELITE MEMBER

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    China's Jan.-Aug. Fixed-asset Investment up 10.9 pct
    2015-09-13

    China's fixed-asset investment grew 10.9 percent year on year to 33.9 trillion yuan (5.32 trillion U.S. dollars) in the first eight months, official data showed.

    Growth retreated from the 11.2 percent registered in the first seven months, the National Bureau of Statistics (NBS) said on Sunday.

    Wang Baobin, an NBS statistician, attributed the month-on-month decrease to slumping investment growth in the property and manufacturing sectors.

    Despite the decrease in growth rate, the industrial structure has improved, Wang said.

    The calculation does not include fixed-asset investment by farmers. It includes projects with investment of at least 5 million yuan, as well as all property development projects.

    Fixed-asset investment in the tertiary industry increased 11.9 percent from a year ago, while that in infrastructure jumped 18.
     
  12. jkroo

    jkroo FULL MEMBER

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    It seems that China's industrial outputs and export slow around 1% down for internal and external demands. Investment and comsuption's growth rate is still double digits.

    It is an apparent signal that China's economy growth pattern is gradually changing. I am optimistic for the process. And I read news that Prof. Lin 林毅夫 predicts that we will reach a new stage after 5 years that means 2020.

    Let's have a big hug for the changes. Go fighting!
     
    Last edited: Sep 14, 2015
  13. AndrewJin

    AndrewJin ELITE MEMBER

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    On some "small" online shopping festival weeks ago, I spent 200 yuan and got 400 yuan shampoo, body wash, etc. Whole year is settled!

    Investment, consumption and export!
    Why some members here always neglect the basic building block of GDP?!
     
  14. jkroo

    jkroo FULL MEMBER

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    May be VIP.COM :D Times goes by so quickly, new 11.11 comes. What's your plan and your prediction for the total online sales revenue of that day and the portion of mobile commerce?
    Yeah. They choose to be and there are so many people need to be fed. That's just OK to us.

    :coffee:
     
  15. AndrewJin

    AndrewJin ELITE MEMBER

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    Last year the sales revenue of Tmall alone was 57 billion yuan.
    So hard to predict.
    This year will be started with an online live gala!

    6492218_856457.jpg