• Sunday, August 9, 2020

China industrial output up 6.1% yoy in May

Discussion in 'China & Far East' started by TaiShang, Jun 11, 2015.

  1. TaiShang

    TaiShang ELITE MEMBER

    Messages:
    26,206
    Joined:
    Apr 30, 2014
    Ratings:
    +72 / 93,293 / -2
    Country:
    China
    Location:
    Taiwan, Province Of China
    China industrial output up 6.1% yoy in May
    June 11, 2015, 6:31 am



    [​IMG]
    Premier Li Keqiang has set the nation’s 2015 expansion target at about 7 percent [Xinhua]


    Industrial output in China grew 6.1 per cent year on year in May, up from the 5.9-per cent growth in April, official data revealed on Thursday.

    National Bureau of Statistics also announced on Thursday China’s retail sales grew 10.1 per cent year on year to 2.42 trillion yuan ($396 billion) in May.

    Fixed asset investment rose 11.4 per cent from a year earlier to 17.12 trillion yuan ($2.8 trillion) in the first five months of the year. Investment in China’s property sector rose 5.1 per cent year on year to 3.23 trillion yuan ($528.21 billion) during the same period.

    China’s policy makers unveiled further action May 10, with a third reduction in benchmark lending rates.

    The Chinese leadership’s 2015 growth target is set at 7 per cent.
     
  2. TaiShang

    TaiShang ELITE MEMBER

    Messages:
    26,206
    Joined:
    Apr 30, 2014
    Ratings:
    +72 / 93,293 / -2
    Country:
    China
    Location:
    Taiwan, Province Of China
    EuCham: China remains a key market for Europeancompanies
    June 11, 2015

    [​IMG]
    European Chamber President Jörg Wuttke makes the presentation. (People's Daily Online/Xinyu Yao)

    "Though Chinese economic slowdown is the top challenge for European companies, we don't see companies leaving China. China is too important in size and potential, there is no second China in the world," said European Chamber President Jörg Wuttke at the press conference for Business Confidence Survey 2015 in Beijing on Wednesday.

    The European Chamber Business Confidence Survey 2015 was produced in partnership with Roland Berger Strategy Consultant and was complied with inputs from over 540 European companies operating in China. The results of the survey indicate that even though European companies are influenced by the Chinese economic slowdown, and manyof them have shown a pressing demand for regulatory framework, China remains a key market for European companies.

    In this year's survey, the percentage of European companies that ranked concerns over theChinese economic slowdown as one of their top challenges is almost double that of anyother challenge. However, as China's economy still has room for growth, more than half ofEuropean companies remain optimistic about their growth prospects. Some have takencut-back countermeasures like laying off employees to meet this heightened challenge.

    Mr. Wuttke stresses that better implementation of the rule of law is the top driveEuropean companies view as for China's economic development in the coming years. Andyet the legislative environment, administrative issues and enforcement of regulations inChina still have a lot to improve. Like in the survey, 55 percent of European companiesperceive that foreign-invested enterprises (FIEs) tend to receive unfavorable treatmentcompared to domestic Chinese firms in their respective industries.

    Chinese government is well aware that innovation will be one of the most critical drivers ofthe current economic paradigm. Nevertheless, as showed in the survey that more than twothirds of European companies that engage in research and development (R&D) do nothave a R&D center in China, and those with a R&D presence still tend to use their centersheavily for product localization. Mr. Wuttke thinks that European companies wouldcontribute more to the Chinese economy if they feel more secure from threats like importsubstitution and technology transfer attempts, and were afforded better protection underChina’s intellectual property rights (IPR) laws through improved enforcement and betterInternet access.

    The Chinese economy is facing a shift in growth model, and Chinese new leadership hasclearly articulated its reform vision to move the Chinese economy up the value chain.European companies, as Mr. Wuttke puts, are also prepared to embrace the "new normal,"an era that will be characterized by a lower, but better quality economic growth.