China Economy Forum

[xuxu1457]

China export and import in 2012: 3866.76billion$
Export:2048.93 billion$
Import:1817.83 billion$
trade balance 231.2 billion$
Foreign exchange reserves：3.31trillion$

Fist trade partner:
EU：546billion$
USA:484.68billion$
ASEAN：400billion$
HongKong:341,5billion$
Japan:329.5billion$
South Korea:256.3billion$
Taiwan:169billion$
Australia：122.3billion$
Russia:88.2billion$
Brazil：85.7billion$
Saudi Arabia：about 74billion$
India:66billion$
South Africa：60billion$
Canada：51.4billion$

 

[Chinese-Dragon]

Fantastic news.

We need at least 7% GDP growth over the next decade.

 

[cnleio]

Fantastic news.

We need at least 7% GDP growth over the next decade.

Indeed best 8% GDP rise ... just hope

 

[AUz]

Great!!! Chinese must try to mend their relationships with japanese, south koreans, vietnames, philipines etc and try to bring these countries to Asia again (and free them from shackles of western sphere of influence)...

China must also start treating its Muslims properly and Muslim groups in return must not create trouble and accept that they are a part of China and can't have their own separate state....

If Asians solve their critical issues, the next century can well be an "Asian Century" for sure Inshallah!!!

 

[xuxu1457]

BEIJING -- Chinese trade rebounded sharply in December, a sign that the world’s second largest economy was broadening its recovery.

Exports grew 14.1% from a year earlier, well above November’s 2.9% year-on-year growth, official data released Thursday showed.

The pickup was led by rising demand from Southeast Asia, the U.S. and Britain.

Meanwhile, imports accelerated 6% from a year earlier after recording no growth in November.

After slowing to its weakest pace of growth in three years, the Chinese economy began showing signs of improvement the final three months of 2012 on rising domestic investment.

December’s positive trade data may signal that conditions overseas could also be improving for China’s export sector, an employer of 200 million workers.

But a recovery is far from certain. Alistair Thornton, a Beijing-based economist for IHS Global Insight, said last month’s strong trade numbers may be skewed by short-term orders.

“With our projection for continued contraction in the Eurozone and continued slowdown in the U.S. economy, we believe China’s export sector will face another uphill battle this year -- an even tougher one than 2012,” Thornton said in a research note Thursday.

For the full year, China’s trade balance grew to $231.2 billion from $154.9 billion in 2011. China’s subdued property market significantly diminished imports of raw materials, helping create the huge surplus in exports.

Chinese exports grew 7.9% in 2012 and imports 4.3%, combining to miss the government’s annual trade target of 10%.

To be sure, the weak global economy in 2012 was not as damaging as during prior crises, Thornton said.

“Put in perspective with the four previous export downturns, 2012 looks to have done quite well,” he said. “Exports grew only 0.5% in 1998 after the Asian financial crisis, 6.8% after the U.S. tech bubble crash in 2001 and plunged over 16% in 2009" amid the global financial crisis.


China's trade rises sharply in December - latimes.com

China export and import in 2012: 3866.76billion$
Export:2048.93 billion$
Import:1817.83 billion$
trade balance 231.2 billion$
Foreign exchange reserves：3.31trillion$

Fist trade partner:
EU：546billion$
USA:484.68billion$
ASEAN：400billion$
HongKong:341,5billion$
Japan:329.5billion$
South Korea:256.3billion$
Taiwan:169billion$
Australia：122.3billion$
Russia:88.2billion$
Brazil：85.7billion$
Saudi Arabia：about 74billion$
India:66billion$
South Africa：60billion$
Canada：51.4billion$

 

[Wright]

Great!!! Chinese must try to mend their relationships with japanese, south koreans, vietnames, philipines etc and try to bring these countries to Asia again (and free them from shackles of western sphere of influence)...

China must also start treating its Muslims properly and Muslim groups in return must not create trouble and accept that they are a part of China and can't have their own separate state....

If Asians solve their critical issues, the next century can well be an "Asian Century" for sure Inshallah!!!

East Asian century, south Asia and the middle east are far, far behind. And East asians dont consider south Asians their equals and nor do the middle easterners. Time for South Asians to stop idolizing others.

And for the record there was already one central Asian superpower, Russia. I dont see how this will be something new.

 

[gpit]

China is closing to make its “artificial sun”
China is closing to make its “artificial sun” | China's Great Science and Technology

2013-01-06 — On Jan 5th, Heifei Insititute of Physical Science Chinese Academy of Sciences (CASHIPS) announces that its “big science projects”: EAST (Experimental Advanced Superconducting Tokamak) or so-called “artificial sun” has obtained a significant experimental results. The auxiliary heating neutral beam injection (NBI) system works successfully to 100 seconds long pulses hydrogen neutral beam extraction in the integrated test platform, initially verify the system’s ability to operate in long pulse.

Scientists introduce that it is China’s first time to realize long-pulse neutral beam extraction, marking China has taken a solid step on the research field of neutral beam injection heating .

The Experimental Advanced Superconducting Tokamak (EAST, internal designation HT-7U) is an experimental superconducting tokamak magnetic fusion energy reactor in Hefei, the capital city of Anhui Province, in eastern China. The experiment is being conducted by the Hefei-based Institute of Plasma Physics under the Chinese Academy of Sciences. The project was proposed in 1996 and approved in 1998. According to a 2003 schedule, buildings and site facilities were to be constructed by 2003, and tokamak assembly to take place from 2003 through 2005. EAST can carry out the most cutting-edge research related with thermonuclear reactor, such as the neutral beam injection system.

The EAST’s neutral beam injection system is fully developed by China itself and covers a precision high current ion source, high vacuum technology, low-temperature refrigeration technology, high voltage isolation technology, remote monitoring and control, and plasma and beam diagnostics.

In the newest experiments, the CASHIPS team only spends 10 day to archieve excellent experimental result of 30 keV beam energy, beam current of 9 Amps, 0.3 MW of beam power and neutral beam elicit with pulse width of 100 seconds. Experiment successfully tested megawatt level high current ion source performance and validate that NBI various subsystems have the ability to run long pulse of 100 seconds.

The experimental results obtained landmark which means that China’s self-developed neutral beam injection heating system has been reached international advanced level and basically overcome major technical difficulties, and prepares a solid foundation for the neutral beam injection system applied in 2013 EAST physics experiments.

Congratulations!

This is a human created marvel/miracle. This is essentially a mixture/co-existence of two extremes: extreme low temperature (for strong EM field to confine the charged particles) and extreme high temperature (to make fusion happen).



Competitors are many such as US Lawrence Livermore (laser induced inertial confinement), Sandia, French Laser Megajoul, etc.


Would be really exciting to see who would be the first to achieve energy break-even.

 

[cirr]

China's 2011 GDP revised up

--------------------------------------------------------------------------------

BEIJING - China's statistics authority on Monday revised its gross domestic product for 2011 slightly up based on its final verification.

The revised GDP was 47.31 trillion yuan ($7.52 trillion), up 22.2 billion yuan from the preliminary verification figure, the National Bureau of Statistics said in a statement.

The year-on-year growth stayed unchanged at 9.3 percent calculating in constant prices, the statement said.

According to international practices, the GDP figure is usually adjusted several times as more statistics become available, the NBS said.

The bureau calculates each year's GDP three times - preliminary calculation that ends before January 20, preliminary verification that ends before the end of September, as well as final verification before the end of January the following year, the statement said.


2012 figures are due on Friday，18.01.2013.

My two cents：north of 8.5 trillion US dollars using year-end market exchange rate。

2013: 9.75-10 trillion US dollars。

 

[Fsjal]

How is China unequal. Poverty is worse in Philippines.

 

[Fsjal]

China

China’s economy probably grew 7.7 percent in 2012, exceeding the government target of 7.5 percent, a vice chairman at the nation’s economic planning agency said.
Gross domestic product will expand about 7.5 percent this year and inflation will average 3.5 percent, Zhang Xiaoqiang, from the National Development and Reform Commission, was quoted by the official Xinhua News Agency as saying at a forum today.
Zhang gave his estimate a week before the National Bureau of Statistics releases fourth-quarter and full-year GDP data. Economic growth probably accelerated to 7.8 percent in the three months through December from a year earlier, pushing up expansion for the year to 7.7 percent, according to Bloomberg News surveys ahead of the data announcement on Jan. 18.
Zhang said on April 3 that China’s economy may have expanded about 8.4 percent in the first quarter of 2012. The official figure announced 10 days later was 8.1 percent.
Inflation accelerated more than forecast to a seven-month high of 2.5 percent in December, statistics bureau figures showed today. Customs data yesterday showed exports rose 14.1 percent last month from a year earlier, adding signs the economy is recovering from a seven-quarter slowdown.

(China's economy will keep on running)

 

[sweetgrape]

China 2012 GDP is 51932.2 billion Yuan, About 8.2~8.3 trillion dollar, well, similar with my early prediction!!!
Well the GDP per capita is about 6100 dollar.

 

[ChineseTiger1986]

China 2012 GDP is 51392.2 billion Yuan, About 8.2~8.3 trillion dollar, well, similar with my early prediction!!!
Well the GDP per capita is about 6100 dollar.

China's 2012 GDP is 51.9322 trillion yuan which is about 8.23 trillion dollar.

BTW, 2012 sucks a$$, hopefully 2013 will be a better year.

 

[cirr]

The GDP is some 2% below my estimate, thanks to a dramatic fall in the GDP deflator during the last few months in the year, indicating that the general price level, of which the CPI is a part, is well under control.

Should the need rises, China has the leeway to pursue a more active fiscal policy and a looser monetary policy.

China economy grew 7.8% in 2012: government

(AFP) – 47 minutes ago

BEIJING — The Chinese economy expanded 7.8 percent in 2012, according to the government, as annual growth slowed for a second straight year in the face of weakness at home and in key overseas markets.

But gross domestic product (GDP) grew 7.9 percent in the final three months of the year, the National Bureau of Statistics (NBS) said on Friday, as it snapped seven straight quarters of slowing growth.

China's GDP reached 51.9 trillion yuan ($8.28 trillion) in 2012, cementing its position as the world's second-largest economy after the United States.

Economists surveyed by AFP had projected GDP growth of 7.7 percent in 2012 and 7.8 percent in the fourth quarter.

The official GDP figures come as optimism has grown among analysts that the economy will pick up steam in 2013 after two years of relative weakness. The AFP survey showed expectations of an acceleration to 8.0 percent growth this year.

In a statement the NBS said China's overall economic performance was "getting stabilised".

"In the next phase we should... focus on changing the economic growth mode as the main theme and improving the quality and efficiency of economic growth at the core," it said.

China's growth has slowed as the government took steps to cool a once red hot property market as well as amid weakness in the broader global economy, particularly key export markets the United States and Europe.

Growth had slowed for seven straight quarters through September, when the economy expanded 7.4 percent, the worst since early 2009. Annual GDP grew 9.3 percent in 2011 and 10.4 percent in 2010.

AFP: China economy grew 7.8% in 2012: government

 

[RIMPAC]

When using the exchange rate, the average exchange rate for the year is used, not the latest exchange rate.

 

[oct605032048]

US is No.1.