China Economy Forum

[JSCh]

Chinese economy expands 6.4 pct in Q1
Source: Xinhua| 2019-04-17 10:39:14|Editor: mingmei

BEIJING, April 17 (Xinhua) -- Chinese economy expanded 6.4 percent year on year in the first quarter of this year, official data showed Wednesday.

China's GDP reached 21.343 trillion yuan (about 3.18 trillion U.S. dollars) in the first three months of 2019, and the growth pace was the same with that of Q4 2018, the National Bureau of Statistics (NBS) said in a statement.

The tertiary sector reported the strongest growth in added value by expanding 7 percent to reach 12.232 trillion yuan, which accounted for 57.3 percent of the total Q1 GDP, picking up by 0.6 percentage points compared with Q1 2018.

Consumption continued to be the mainstay in driving up demand, contributing 65.1 percent to Q1 economic growth, NBS data showed.

The industrial and agricultural sectors saw their added value grow 6.1 percent and 2.7 percent respectively.

 

[JSCh]

China's First Quarter Current Account Surplus Hits USD58.6 Billion
TANG SHIHUA
DATE : MAY 10 2019/SOURCE : YICAI

(Yicai Global) May 10 -- China recorded a current account surplus of USD56.8 billion in the first quarter of 2019, the State Administration of Foreign Exchange said today.

For the first quarter, the trade of goods recorded an 83 percent annual rise to a USD94.5 billion surplus, while the service trade recorded USD63.4 billion deficit, which contract 14 percent annually.The primary income recorded a USD25.4 billion surplus while secondary income posted a USD2.2 billion surplus.

 

[JSCh]

China's foreign trade up 4.1 pct in first five months
Source: Xinhua| 2019-06-10 10:20:09|Editor: Yang Yi

BEIJING, June 10 (Xinhua) -- China's foreign trade of goods rose 4.1 percent year on year in the first five months of this year to 12.1 trillion yuan (about 1.76 trillion U.S. dollars), customs data showed Monday.

Exports increased 6.1 percent year on year to 6.5 trillion yuan during this period, while imports grew 1.8 percent to 5.6 trillion yuan, the General Administration of Customs said.

 

[JSCh]

China bucks global trend with record FDI inflows in 2018: UN report
Source: Xinhua| 2019-06-13 05:43:53|Editor: Mu Xuequan

GENEVA, June 12 (Xinhua) -- Despite global foreign direct investment (FDI) flows sliding by 13 percent in 2018 from the year before, China bucked the trend, posting a record of 139 billion U.S. dollars of FDI, a UN report said Wednesday.

The United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2019 said FDI to East Asia rose by 4 percent to 280 billion dollars in 2018, with inflows to China increasing by 4 percent to an all-time high.

The 139 billion dollars into China accounted for more than 10 percent of the world's total 1.3 trillion- dollar FDI, said UNCTAD.

"Liberalizing efforts helped drive FDI flows at a high level and last year it was a record level again, the highest in history," said James Zhan, director of UNCTAD's division on investment and enterprise, at a press conference here.

He said that China put in place liberalization measures that included a new investment law and improved the investment climate so that the list of restrictive investment areas was reduced.

According to the report, foreign investors established more than 60,000 new companies in China in 2018.

Zhan explained that China itself is a large market. "That is why foreign countries are still producing in China."

"There are a number of steps that China has been taking of a positive nature in opening up its markets for greater FDI and foreign investment," said UNCTAD Secretary-General Mukhisa Kituyi, at the same occasion.

Kituyi noted the national treatment accorded to foreign investors by the newly-adopted investment law in China, the China International Import Expo in Shanghai last November, and the most recent Belt and Road summit, saying "all are positive market signals that encourage more foreign investment."

 

[JSCh]

China's foreign trade up 3.9 pct in H1
Source: Xinhua| 2019-07-12 17:16:03|Editor: ZX

BEIJING, July 12 (Xinhua) -- China's foreign trade maintained stable growth in the first half of this year, expanding 3.9 percent year on year, the General Administration of Customs (GAC) said Friday.

Total foreign trade volume reached 14.67 trillion yuan (2.14 trillion U.S. dollars) in H1. Exports expanded 6.1 percent while imports rose 1.4 percent.

China saw its trade surplus widen by 41.6 percent year-on-year to 1.23 trillion yuan during the same period.

The country's trade mix continued to improve in H1 with the general trade growing both in volume and proportion. General trade grew 5.5 percent year-on-year and accounted for 59.9 percent of the total trade, 0.9 percentage points higher than H1 2018.

Private firms gained ground in sustaining China's trade growth, which made 6.12 trillion yuan of trade in H1, up 11 percent year on year.

Trade in the country's central and western regions outpaced the total trade, GAC data showed. Twelve western provincial regions saw their trade grow 14 percent during the Jan.-June period.

China' foreign trade in H1 made steady progress and achieved quality development, said GAC spokesperson Li Kuiwen.

Despite challenges from the complex global environment, China's foreign trade is still dominated by enduring improvement, with trade structure continually optimizing and the driving forces shifting faster, Li added.

 

[JSCh]

China's GDP grows 6.3 pct in H1
Source: Xinhua| 2019-07-15 10:52:21|Editor: Yang Yi

BEIJING, July 15 (Xinhua) -- China's GDP expanded 6.3 percent year on year in the first half of 2019 to about 45.09 trillion yuan (about 6.56 trillion U.S. dollars), data from the National Bureau of Statistics (NBS) showed Monday.

The growth was in line with the government's annual target of 6-6.5 percent set for 2019.

In the second quarter, the country's GDP rose 6.2 percent year on year, lower than 6.4 percent in the first quarter, according to NBS data.

The economic performance was generally stable and remained within a reasonable range, with progress being made in certain areas, NBS spokesperson Mao Shengyong told a press conference.

A breakdown of the data showed output of the service sector, which accounted for 54.9 percent of the total GDP, rose 7 percent in the first half of the year, outpacing a 3-percent increase in the primary industry and a 5.8-percent rise in the secondary industry.

Consumption continued to play a bigger role in driving economic growth, with final consumption contributing to 60.1 percent of economic expansion in the January-June period.

 

[CHN Bamboo]

China’s continuous hike of gold reserves demonstrates diversification efforts

By Wang Jiamei Source:Global Times

China increased its gold reserves for the seventh month in June, taking its total reserves to 61.94 million ounces, up 330,000 ounces compared to the previous month, data from the central bank showed on Monday. As gold is considered to be a typical safe haven asset, China's gold purchases are generally seen as a strategic measure to hedge against risks and uncertainties related to the international payment environment and its own currency.

Meanwhile, official data also showed that China's foreign exchange reserves stood at $3.12 trillion by the end of June, up $18.23 billion compared with the previous month. While China's holdings of gold only make up a small percentage of its total foreign exchange reserves, the increases in both gold reserves and foreign exchange reserves bode well in terms of China's capability to stabilize its currency's exchange rate and for handling any potential economic storm.

Historically speaking, it has not been common to see the People's Bank of China (PBC) increase gold holdings for seven consecutive months. China's gold reserves have increased by 2.7 million ounces from 59.24 million ounces at the end of November 2018.

As to the reasons behind the continuous gain in China's holdings of the precious metal, diversification and optimization of reserve assets could be the main factor. Against the background of the trade war with the US, China has shown signs of a steady retreat from dollar-denominated assets, a phenomenon called "de-dollarization"that indicates a shift from US dollar-based assets. According to data released by the US Treasury Department in June, the Chinese holdings of US Treasury bonds and notes declined for a second straight month in April, falling to $1.113 trillion, the lowest level in nearly two years. While China remains the largest non-US holder of treasuries, the continuous decrease in its treasury holdings, plus its increased gold reserves, highlight the country's pursuit of de-dollarization amid the uncertain outlook for global trade and the world economy as a whole.

This de-dollarization process hasn't only been seen in China. In fact, major central banks in countries like Russia and Japan have been cutting back on their treasury holdings. For example, Russia has already slashed nearly 85 percent of its treasury holdings from $96.9 billion in January 2018.

In the meantime, global central banks have been buying gold for their reserves in recent years. Countries like Russia, Kazakhstan and Turkey have been among the most consistent buyers, while relatively inactive central banks like those in Poland, Hungary and India have also returned to the gold market after a multi-year absence. According to data from the World Gold Council, the gold reserves of central banks around the world soared by 651.5 tons, or 74 percent year-on-year, in 2018.

The growing interest in gold has precipitated a continuous rise in the price of the precious metal. Spot gold prices hit $1,422.85 in late June, the highest point in more than six years. The month of June saw gold prices rally more than 8 percent, making it the best monthly performance since 2016.

Observers have attributed the recent gain in gold prices to expectations for an imminent interest rate cut by the US Federal Reserve. While the Fed has repeatedly pledged to "act as appropriate" to sustain the US' economic expansion, the market is now generally convinced that there will be a rate cut in July. Once the Fed cuts the rate, it will inevitably weigh on the dollar and other dollar-based assets.

From the perspective of central banks in China and other countries, the recent increased purchases of gold could also be seen as a means of preserving the value of their foreign exchange reserves ahead of the depreciation of the US dollar.

Moreover, it should be noted that despite the recent gain in gold reserves, China's total gold reserves are not very high compared with other major economies. At present, China holds the world's sixth-largest gold reserves, behind the US, Germany, Italy, France and Russia.

Historical experience indicates that it is a necessary strategic choice to have a certain amount of gold reserves during difficult times for global trade and monetary systems. Sufficient gold reserves are not only essential for countries to guard against future emergencies and to deal with uncertainties in the international payment environment; it is also crucial for measuring the government's capability to maintain its currency stability amid economic concerns.

In this sense, considering the uncertain prospects for the trade war and the world economy, China is expected to continue its purchases of gold in the near future.

 

[JSCh]

Chinese tourists spend 130 bln USD overseas in 2018: report
Source: Xinhua| 2019-08-04 16:37:49|Editor: mingmei

BEIJING, Aug. 4 (Xinhua) -- Chinese tourists made 149 million overseas trips in 2018, with total spending amounting to 130 billion U.S. dollars, according to a report released by the China Tourism Academy.

The data marked a year-on-year increase of 14.7 percent and 13 percent, respectively.

According to the United Nations World Tourism Organization, the number of global travelers will exceed 1.8 billion by 2030. China is considered the world's fastest growing tourism market and will play a key role in the sector's development.

The domestic tourism market is also booming. In the first half of the year, China's domestic tourism revenue came in at 2.78 trillion yuan (about 402 billion U.S. dollars), up 13.5 percent year on year, according to the report.

The academy predicted domestic tourism revenue will expand by 10 percent to reach 5.6 trillion yuan in 2019.

 

[JSCh]

SWIFT sets up wholly-owned enterprise in Beijing
Source: Xinhua| 2019-08-07 16:16:09|Editor: mingmei

BEIJING, Aug. 7 (Xinhua) -- The Belgium-based financial messaging services provider SWIFT set up a wholly-owned enterprise in Beijing Tuesday amid China's further opening of its financial market.

The move marks the company's foray into the world's second-largest economy, making RMB the third international currency accepted by the organization after the dollar and the euro, according to Alain Raes, chief executive of SWIFT Europe, Middle East and Africa.

The wholly-owned enterprise also comes as the country is ramping up efforts to open up its financial market, with the government easing ownership restrictions for overseas financial investors.

The company will promote wider international use of RMB, and increase connectivity between the Chinese financial industry and the international market as well as financial institutions, said Raes.

SWIFT, or the Society for Worldwide Interbank Financial Telecommunications, has a global financial network covering over 200 countries.

According to a report released by the Beijing-based research company Analysys in January, China's cross-border payment industry has developed quickly in the last several years with policy support such as the increase of cross-border payment licenses, the rising trend of outbound tourism and the tax lift on cross-border e-commerce platforms.

 

[CHN Bamboo]

China's exports rose unexpectedly in July
Published: Aug 7, 2019 11:39 p.m. ET

BEIJING--China's exports rose unexpectedly in July from a year earlier, despite the intensifying trade disputes with the U.S. that have dented market demand and soured confidence.

China's exports rose 3.3% on year last month, reversing a 1.3% decline in June, data from the General Administration of Customs showed Thursday. A Wall Street Journal poll of 13 economists had forecast a drop of 2% on year.

Imports continued to slump, sliding 5.6% on year in July, albeit less steeply than the 7.3% decrease recorded in June, the customs data showed. The WSJ poll forecast expected a decline of 9.0% in imports.

China's trade surplus with all trading partners stood at $45.06 billion in July, narrowed from the $50.98 billion surplus recorded in June, but wider than the $38.7 billion that economist had expected.

In yuan terms, China's exports rose 10.3% on year in July while imports increased 0.4%, the customs bureau said.

By MARKETWATCH

——

Economic Watch: China's foreign trade expands steadily amid mounting challenges
Source: Xinhua| 2019-08-08 17:38:32|Editor: Shi Yinglun

BEIJING, Aug. 8 (Xinhua) -- China's foreign trade maintained steady expansion in the first seven months of this year amid mounting domestic and external challenges.

China's trade of goods rose 4.2 percent year on year in the January-July period to 17.41 trillion yuan (about 2.49 trillion U.S. dollars), data from the General Administration of Customs (GAC) showed Thursday.

Exports increased 6.7 percent year on year to 9.48 trillion yuan during the period, while imports grew 1.3 percent to 7.93 trillion yuan. China saw its trade surplus widen by 47.4 percent year on year to 1.55 trillion yuan during the same period.

In July alone, exports expanded 10.3 percent from a year ago to 1.53 trillion yuan, while imports went up 0.4 percent to 1.21 trillion yuan, leading to a 310.26-billion-yuan surplus, widening by 79 percent.

The steady trade growth came as the Chinese economy maintained strong resilience and sound fundamentals and at a time when internal and external risks and challenges were increasing, said Li Kuiwen, director of the GAC's statistics and analysis department

Meanwhile, China's trade mix continued to optimize as general trade with the long industrial chain and high value-added reported a higher proportion in the total trade since the beginning of this year, Li added.

General trade grew 5.7 percent year on year and accounted for 59.8 percent of the total trade in the January-July, 0.8 percentage points higher than the same period of last year.

The European Union remained China's largest trading partner in the period, with bilateral trade volume up 10.8 percent from one year earlier to 2.72 trillion yuan, followed by the ASEAN, up 11.3 percent to 2.35 trillion yuan, and the United States, down 8.1 percent to 2.1 trillion yuan.

China's trade with Belt and Road countries totaled 5.03 trillion yuan, up 10.2 percent year on year, six percentage points higher than the overall pace, said the GAC, adding that the amount accounted for 28.9 percent of China's total trade volume.

China's private businesses reported faster trade growth in the first seven months, with the trade volume increasing 11.8 percent to 7.31 trillion yuan. The amount accounted for 42 percent of the total trade volume in the period, up 2.9 percentage points year on year.

Thursday's data also showed that exports of mechanical and electrical products, as well as labor-intensive products such as textile and furniture, have all maintained growth in the period.

In addition, imports of crude oil and natural gas saw an increase, while iron ore and soybean imports dropped.

——

更详细的报道（中文版）摘自观察者网。

中国7月出口增速10.3%，前7月中美贸易总值下降8.1%

（观察者网讯）

8月8日，海关总署发布我国前7个月货物贸易进出口数据：

按人民币计价，1-7月，我国外贸进出口总值17.41万亿元，同比增长4.2%，其中，出口9.48万亿元，增长6.7%；进口7.93万亿元，增长1.3%。贸易顺差1.55万亿元，扩大47.4%。

前7个月，欧盟、东盟和美国仍为我国前三大贸易伙伴。其中，与欧盟进出口2.72万亿元，增长10.8%；与东盟进出口2.35万亿元，增长11.3%；与美国进出口2.1万亿元，下降8.1%。

而其中，7月，我国进出口总值2.74万亿元，增长5.7%。其中，出口1.53万亿元，增长10.3%；进口1.21万亿元，增长0.4%；贸易顺差3102.6亿元，扩大79%。

按美元计价，今年前7个月，我国进出口总值2.56万亿美元，下降1.8%。其中，出口1.39万亿美元，增长0.6%；进口1.17万亿美元，下降4.5%；贸易顺差2256.9亿美元，扩大38.7%。

其中，7月份，我国进出口总值3980亿美元，同比下降0.8%。其中，出口2215.3亿美元，同比增长3.3%；进口1764.7亿美元，同比下降5.6%；贸易顺差450.6亿美元，扩大63.9%。

前7个月，我国外贸进出口主要呈现以下特点：

一、一般贸易增长且比重提升。前7个月，我国一般贸易进出口10.4万亿元，增长5.7%，占我外贸总值的59.8%，比去年同期提升0.8个百分点。其中，出口5.57万亿元，增长10.1%；进口4.83万亿元，增长1.2%；贸易顺差7381.6亿元，扩大1.6倍。同期，加工贸易进出口4.34万亿元，下降2.3%，占24.9%，下滑1.7个百分点。其中，出口2.76万亿元，下降0.8%；进口1.58万亿元，下降4.7%；贸易顺差1.18万亿元，扩大4.9%。

此外，我国以保税物流方式进出口2.01万亿元，增长10.8%，占我外贸总值的11.5%。其中，出口6650.1亿元，增长14.7%；进口1.34万亿元，增长9%。

二、对欧盟、东盟和日本等主要市场进出口增长，对“一带一路”沿线国家进出口增速高于整体。前7个月，欧盟为我国第一大贸易伙伴，中欧贸易总值2.72万亿元，增长10.8%，占我外贸总值的15.6%。其中，对欧盟出口1.64万亿元，增长12.6%；自欧盟进口1.08万亿元，增长8.2%；对欧贸易顺差5596.5亿元，扩大22.2%。东盟为我国第二大贸易伙伴，与东盟贸易总值为2.35万亿元，增长11.3%，占我外贸总值的13.5%。其中，对东盟出口1.33万亿元，增长15.8%；自东盟进口1.02万亿元，增长6%；对东盟贸易顺差3018.9亿元，扩大68.7%。

美国为我国第三大贸易伙伴，中美贸易总值为2.1万亿元，下降8.1%，占我外贸总值的12%。其中，对美国出口1.62万亿元，下降2.1%；自美国进口4739.3亿元，下降24%；对美贸易顺差1.15万亿元，扩大11.1%。日本为我国第四大贸易伙伴，中日贸易总值为1.21万亿元，增长1%，占我外贸总值的6.9%。其中，对日本出口5549.1亿元，增长4.5%；自日本进口6535.2亿元，下降1.8%；对日贸易逆差986.1亿元，收窄26.7%。同期，我国对“一带一路”沿线国家合计进出口5.03万亿元，增长10.2%，高出全国整体增速6个百分点，占我外贸总值的28.9%，比重提升1.6个百分点。

三、民营企业进出口快速增长，所占比重提升。前7个月，民营企业进出口7.31万亿元，增长11.8%，占我外贸总值的42%，比去年同期提升2.9个百分点。其中，出口4.82万亿元，增长14.2%，占出口总值的50.9%；进口2.49万亿元，增长7.4%，占进口总值的31.4%。同期，外商投资企业进出口7.01万亿元，下降1.2%，占我外贸总值的40.2%。其中，出口3.72万亿元，增长0.9%；进口3.29万亿元，下降3.5%。

此外，国有企业进出口3.03万亿元，增长0.8%，占我外贸总值的17.4%。其中，出口9248.4亿元，下降4.1%；进口2.1万亿元，增长3%。

四、机电产品、劳动密集型产品出口均保持增长。前7个月，我国机电产品出口5.5万亿元，增长6.1%，占出口总值的58%。其中，电器及电子产品出口2.44万亿元，增长7%；机械设备1.64万亿元，增长4.7%。同期，服装出口5612.6亿元，增长2%；纺织品4720.7亿元，增长7.7%；家具2103.1亿元，增长8.8%；鞋类1851.3亿元，增长6.8%；塑料制品1817.2亿元，增长18.2%；箱包1050.7亿元，增长5.9%；玩具1028.5亿元，增长31.7%；上述7大类劳动密集型产品合计出口1.82万亿元，增长7.8%，占出口总值的19.2%。此外，钢材出口3997万吨，减少2.9%；汽车68万辆，增加6.3%。

五、原油、天然气等商品进口量增加，铁矿砂、大豆进口量减少，大宗商品进口均价涨跌互现。前7个月，我国进口铁矿砂5.9亿吨，减少4.9%，进口均价为每吨615.9元，上涨37.5%；原油2.86亿吨，增加9.5%，进口均价为每吨3288.9元，上涨1.6%；煤1.87亿吨，增加7%，进口均价为每吨535.3元，下跌5.3%；天然气5474万吨，增加10.8%，进口均价为每吨3016.6元，上涨19%；大豆4690万吨，减少11.2%，进口均价为每吨2745.5元，下跌0.8%；初级形状的塑料2085万吨，增加11.4%，进口均价为每吨1.01万元，下跌10.1%；成品油1840万吨，减少3.9%，进口均价为每吨3774.2元，上涨0.3%；钢材666万吨，减少13.4%，进口均价为每吨8206.4元，上涨1.5%；未锻轧铜及铜材269万吨，减少11.7%，进口均价为每吨4.55万元，下跌3.5%。

此外，机电产品进口3.41万亿元，下降2.5%。其中，集成电路2316.1亿个，减少4.7%，价值1.12万亿元，下降1.2%；汽车61万辆，减少9%，价值1896亿元，下降3%。

另据央视新闻客户端8日消息称，数据显示，前7个月我国外贸继续保持稳中提质的发展势头，内生动力和活力不断增强。其中有两个数字引人关注，一是我国与“一带一路”沿线国家外贸进出口5.03万亿元，增长10.2%；二是民营企业成为拉动我国外贸的主力军，进出口7.31万亿元，同比增长11.8%，增速居各类型企业之首。

今年以来，我国不断优化外贸结构和营商环境，企业创新挖潜多元化市场。保持外贸稳定增长，中国有底气！底气主要来自于几方面：

国家持续对营商环境的优化

去年以来，我国陆续出台了一系列减税降费、优化口岸营商环境、通关便利化等政策措施，贸易便利化水平显著提升。2018年，世界银行将我国营商环境排名一次性上调了32位；其中跨境贸易排名由97位跃升至65位，也提升了32位。今年，我国在去年减税降费的基础上实施更大规模的减税政策，制造业增值税税率降低3个百分点，交通、运输、建筑等行业税率降低1个百分点。由海关总署牵头继续推进口岸监管作业改革，进出口环节的监管证件已由86种减少到46种，货物通关时间压缩一半以上。国际贸易“单一窗口”已实现了与25个部委的系统对接和信息共享，业务覆盖了全国所有口岸。年底前，国际贸易“单一窗口”主要业务应用率将达到100%。国家出台的一系列更多稳外贸政策措施的加快出台与落地，让企业更早、更好享受到相关便利与实惠，有助于降低企业压力、增强企业应对能力，提振了企业信心，这对稳外贸起到了直接的作用。

更加多元的贸易伙伴

在与传统贸易大部分伙伴保持贸易额良好增势的同时，我国外贸企业积极拓展与其他国家和地区的经贸往来。今年前7个月我国与东盟、非洲、中亚、拉美等新兴市场外贸增速明显，其中，我国与“一带一路”沿线国家外贸进出口5.03万亿元，同比增长10.2%，高出同期外贸增速6个百分点。其中我国与沙特阿拉伯、波兰、乌兹别克斯坦等“一带一路”沿线国家外贸进出口增速达36.8%、21.9%和27.7%。

国家信息中心预测部处长闫敏表示，中国与232个国家和地区有贸易往来，今年以来中国不仅与欧盟等主要经济体的市场份额均有所上升，更突出的是与新兴市场外贸增速明显，特别是我国与“一带一路”沿线国家的贸易合作潜力持续释放，开拓新市场、创造新需求，这种多元化发展，成为拉动我国外贸的新动力，使我国保持外贸稳定增长有了更大的空间。

海关总署统计分析司司长李魁文介绍，在全球贸易环境不佳的背景下，今年中国外贸企业数量不但没有减少，反而还在增长；上半年，我国有进出口实绩的企业达33万家，增长6.6%。

商品结构持续优化

前7个月我国机电产品出口5.5万亿元，增长6.1%，占我国外贸出口总值的58%。其中，部分附加值较高的机电产品和装备制造产品出口保持了良好增长态势，如平板电脑出口增长16.3%，金属加工机床出口增长21.3%。在进口方面，民生消费类产品进口增长较快，其中水海产品进口增长39%，美容化妆品和护肤品进口增长45.2%，鲜、干水果及坚果进口增长42%。

我国企业不断挖潜、提高自身创新能力，用产品质量来拓展市场赢得市场

去年欧盟28个成员国进口的电动自行车中，来自中国的比重占78%，高达93.2万辆。在手机、计算机、彩电、音响等主要消费电子产品领域，中国的产业配套、技术应用和产业服务能力全球领先。依托产品质量和技术支撑，以及良好的营商环境，更多民营企业通过不断创新，提高产品技术含量，增加产品附加值，让传统出口产品有了新的增长点，在汽车、机械设备、电器及电子产品等领域，我国出口产品的国际竞争力明显增强。

与此同时，今年前7个月，我国民营企业进出口7.31万亿元人民币，增长11.8%，增速居各类型企业之首。外贸内生动力不断增强。民营企业在外贸领域持续发力，逐渐成为我国对外贸易增长的主力军。

“国内经济‘稳’是外贸‘稳’的重要支撑。”海关总署统计分析司司长李魁文表示，习近平总书记在G20大阪峰会上强调“将在近期采取措施的基础上，进一步推出若干重大举措，加快形成对外开放新局面，努力实现高质量发展”。我国开放的大门越开越大，稳外贸政策效应也正不断显现，这将更有力促进外贸转型升级、提升企业活力。今年，我国还将进一步提高贸易便利化水平，持续优化口岸营商环境，助力外贸企业轻装上阵，推动实现外贸保持稳中有进发展。

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China reports steady FDI growth in H1
Source: Xinhua| 2019-07-11 18:36:34|Editor: ZX

BEIJING, July 11 (Xinhua) -- China saw steady growth in foreign direct investment (FDI) in the first half of 2019, official data showed Thursday.

The actually utilized foreign investment in China rose 7.2 percent from a year ago to reach 478.33 billion yuan during the January-June period, Gao Feng, spokesperson with the Ministry of Commerce (MOC), told a press conference.

In U.S. dollar terms, the amount stood at 70.74 billion U.S. dollars, up 3.5 percent year on year.

During the same period, a total of 20,131 new foreign-funded enterprises were established.

In June alone, total foreign investment actually utilized climbed 8.5 percent year on year to 109.27 billion yuan, MOC data showed.

The reading amounted to a total of 16.13 billion U.S. dollars, a 3-percent growth compared to the same period last year.

Banking, securities and insurance sectors were not included in the monthly data, according to the MOC.

FDI into the high-tech sector saw faster expansion, with the sector's actually utilized FDI rising 44.3 percent year on year and accounting for 28.8 percent of the total FDI, Gao said.

The high-tech manufacturing industry drew 50.28 billion yuan, up 13.4 percent year on year, with electronics and communications equipment rising 25 percent compared to the same period last year.

Some 87.56 billion yuan flowed into the high-tech service industry, a sharp increase of 71.1 percent year on year. FDI in services of information. R&D and design, as well as sci-tech achievement transformation surged by 68.1 percent, 77.7 percent and 62.7 percent, respectively.

FDI actually utilized by western Chinese regions registered rapid growth in the first half, up 21.2 percent year on year to hit 34.96 billion yuan, MOC data showed.

The country's free trade zones saw their actually utilized FDI rise 20.1 percent year on year and account for 14.5 percent of the total FDI, Gao said.

Foreign investment from the Republic of Korea and Germany climbed quickly in H1 2019, posting growth of 63.8 percent and 81.3 percent year on year, respectively.

 

[CHN Bamboo]

China's July CPI up 2.8%, PPI down 0.3%
2019-08-09 09:45:20 chinadaily.com.cn Editor : Gu Liping​

China's consumer price index, the main gauge of inflation, rose 2.8 percent in July year-on-year, data from the National Bureau of Statistics showed on Friday.

China's producer price index, which measures the cost of goods at the factory gate, fell 0.3 percent year-on-year in July, the NBS said.

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Inflation rises, but will 'remain controllable'
By XIN ZHIMING,ZHOU LANXU | China Daily | Updated: 2019-08-10 01:08
​

Consumers browse products at a supermarket in Guangzhou, Guangdong province, on June 20, 2018. [Photo/VCG]​

Fruit, pork drive food price increases, but few other factors support hike

Consumer inflation as measured by the consumer price index continued to strengthen in July, rising by 2.8 percent year-on-year, compared with 2.7 percent in June, according to the National Bureau of Statistics on Friday.

Analysts said the inflation rate may continue at relatively high levels in the coming months, but will not rise strongly, in a way that could affect the country's stable monetary stance. The reading was the highest since February 2018, when it was 2.9 percent.

Rising consumer inflation in July was attributable mainly to food price increases, the NBS said. Food prices rose by 9.1 percent while nonfood prices were up by 1.3 percent, according to official data.

Among food items, fresh fruit prices rose by 39.1 percent, contributing 0.63 of a percentage point to CPI growth, while pork prices jumped by 27 percent, contributing 0.59 of a percentage point to CPI growth, officials said.

CPI growth was 2.3 percent on average in the first seven months, the NBS said.

July's increase in CPI triggered concerns that the country might face heavier pressure from serious inflation, which would — if it occurred — become a daunting challenge for policymakers as they battle economic weakening.

Analysts, however, said that while inflation may remain at relatively high levels in the coming months, the overall situation will be controllable given that the CPI will not spiral out of control.

"The possibility of the CPI continuing to rise strongly this year is small," said Liu Chunsheng, an associate professor at the Central University of Finance and Economics. "CPI growth will remain controllable and thus would not be something worrisome."

There are few factors that would continue to push up inflation except for food, he said. Authorities have vowed to keep the country's monetary policy prudent and will not resort to excessive money supply to stimulate economic growth, thereby helping to stabilize prices, Liu said.

Li Chao, chief economist at Huatai Securities, said that the July reading may be the highest this year because prices of most items have remained stable or weakened. As the momentum of price increases for fruit and pork is expected to weaken, CPI growth may trend down in the August-October period. "We think the price rise pressure remains controllable," he said in a research note.

The stable inflation level will not have a significant bearing on monetary policymaking, said Liu of CUFE.

But Liu also warned that policymakers should closely monitor the food price changes and ensure stable food supplies to iron out major price fluctuations.

The producer price index, which measures factory-gate prices and concerns corporate profitability, dropped by 0.3 percent year-on-year in July, the NBS said.

The fall reflects the easing of GDP growth, which slowed to 6.2 percent year-on-year in the second quarter.

"The fall is in line with market expectations," said Zhu Jianfang and Liu Boyang, economists at CITIC Securities. The country's environmental protection measures, which reduce production capacity, may help bolster PPI in the coming months, but the situation will not improve significantly, they said in a research note.

 

[CHN Bamboo]

China reports current account surplus in H1
Xinhua | Updated: 2019-08-09 18:41
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BEIJING -- China reported a current account surplus of $106 billion in the first half of 2019.

Goods trade posted a surplus of $222.8 billion during the period, while service trade reported a deficit of $129.3 billion, narrowing by 12 percent year on year, data from the State Administration of Foreign Exchange (SAFE) showed.

 

[JSCh]

AUGUST 12, 2019 / 1:36 PM / UPDATED 5 HOURS AGO
Foreign holdings of Chinese bonds top 2 trln yuan, driven by index inclusions - Reuters

SHANGHAI, Aug 12 (Reuters) - Holdings of yuan-denominated bonds by offshore investors topped 2 trillion yuan for the first time in July, official data showed, as the inclusion of Chinese bonds in a major global index supported flows into the market.

Offshore investors held Chinese interbank market bonds worth a total of 2.02 trillion yuan ($286.04 billion) at the end of July, according to Reuters calculations using data from interbank market bond clearing houses China Central Depository and Clearing Co (CCDC) and Shanghai Clearing House.

Total holdings of Chinese government bonds by offshore investors stood at a record 1.17 trillion yuan at the end of July, the data showed.

Offshore investors also increased their holdings of bonds issued by China’s policy banks to a record high of 465.82 billion yuan, the data showed, up 40.4 billion from a month earlier.

Worries over a prolonged trade war between the United States and China have helped to drive Chinese bond prices to multi-year highs as investors seek products to hedge against the risk of a stock market collapse.

On Friday, the yield on 10-year Chinese government bonds touched 3.019%, according to Refinitiv data, its lowest level since Dec. 5, 2016. Bond yields move inversely to prices.

In April, the Bloomberg Barclays Global Aggregate Index began including Chinese government bonds and policy bank bonds, issued by China Development Bank, the Agricultural Development Bank of China and the Export-Import Bank of China. The 20-month phased inclusion of Chinese bonds will take China’s weight in the index to 6.03%.

Data released earlier this month from Bond Connect, which offers access to China’s onshore interbank market through Hong Kong, showed trading volumes hit a record high of 201 billion yuan in July, though daily turnover fell to 8.74 billion yuan from 9.06 billion yuan in June. ($1 = 7.0620 Chinese yuan) (Reporting by Andrew Galbraith; Editing by Sam Holmes)

 

[JSCh]

Chinese economy grows within reasonable range in July
By Xie Jun and Song Lin Source:Global Times Published: 2019/8/14 23:53:40

Exports continue to grow, defy trade row

A container is loaded onto a truck at Jingtang port area of Tangshan Port, North China's Hebei Province, in January 2018. Photo: Xinhua

Chinese officials and experts expressed confidence in China's growth potential as the country's economy showed a stable trend in July amid the ongoing China-US trade war.

Statistics released by the National Bureau of Statistics Wednesday showed that the growth of the domestic economy slowed down in sectors including manufacturing and consumption in July, but robust exports and steady fixed assets investment were reported for last month.

"China's economy continued to perform within a reasonable range," bureau spokesperson Liu Aihua said at a news conference on Wednesday.

The situation was similar in the consumption sector. In July, retail sales of consumer goods grew 7.6 percent on a yearly basis, down from 9.8 percent in June. Liu attributed the decline to falling automobile sales.

Liu stressed that China's new economic growth momentum is growing, such as the rising proportion of new economies in the GDP. Vitality in the private sector also brings vigor to the economy, she said.

"China's economy has a solid basis for further growth in the next period," Liu said.

Exports showed promising signs, Chinese experts said. Exports grew 10.3 percent year-on-year in July, up 4.3 percentage points compared with June, the bureau data showed.

Growth in the consumption and manufacturing sectors slowed during the month.

The added value of major industrial enterprises grew 4.8 percent year-on-year in July, down from 6.3 percent in June.

"The slowing growth shows that China is indeed facing pressure, but not in an unexpected way," said Tian Yun, vice director of the Beijing Economic Operation Association.

"China's exports still maintain a strong growth trend. In particular, the advantages of private sector exports are showing up. This is pointing toward the momentum of China's economic growth," Tian said.

A fully-automated production line at Dongguan Sunrise Knitting in South China's Guangdong Province. Photo: Chen Qingqing/GT

Trade war impact

Wang Jun, a deputy director of the department of information at the China Center for International Economic Exchanges, said that the statistics showed China's international market demand was stable despite the trade friction.

"The trade war didn't hurt China's economy as much as some people had thought," Wang noted, "as China is multiplying its trade channels and China-US trade only accounts for a little over 10 percent of China's overall trade, and therefore the impact from the trade war is under control."

Wang nevertheless warned that the July statistics showed weak domestic demand was much harsher as China undergoes economic structural transition.

The US government Tuesday announced a delay in imposing a 10 percent tariff on certain goods originating from China, including cell phones and laptops, to December 15.

China's financial markets were stable Wednesday, with the benchmark Shanghai Composite Index rising 0.42 percent. The yuan's central parity rate against the US dollar rose 14 basis points, which is a mild fluctuation.

Bureau data showed investment in high-tech manufacturing grew 11.1 percent and 11.9 percent in high-tech service industries, year-on-year in the first seven months of 2019, beating average investment growth.

The Consumer Price Index, a gauge of inflation, also was stable in July with 2.8 percent growth, compared with 2.7 percent in June.

Stronger policy strength

Some experts suggested that the government "increase policy strength" to further propel the domestic economy in upcoming months.

"China's consumption and investment sectors have further growth potential," Tian said. "More efforts should be made by the government to push the development in those areas in the second half of this year."

Liu Xuezhi, an economist at the Bank of Communications, told the Global Times that an interest rate cut could be an option if China's third-quarter economy significantly slowed.

But he cautioned that the government should not waver in curbing real estate bubbles.

"The government should continue with marginal monetary easing and keep liquidity at a reasonably sufficient level to boost market confidence," Liu Xuezhi said.

Wang suggested the government increase financial expenditure and ease the deficit rate to support infrastructure construction.

Tu Lei contributed to this story

 

[JSCh]

Japan becomes largest foreign holder of U.S. Treasuries
Source: Xinhua| 2019-08-16 10:18:39|Editor: huaxia


WASHINGTON, Aug. 15 (Xinhua) -- Japan surpassed China to become the largest foreign holder of U.S. Treasuries in June, with its holdings at the highest level in nearly three years, U.S. Treasury Department said Thursday.

Japan's holdings of U.S. Treasuries increased 21.9 billion U.S. dollars in June to reach 1.1229 trillion dollars, according to data from the department. It has been more than two years since Japan held more U.S. Treasuries than China.

China, meanwhile, held 1.1125 trillion dollars of U.S. Treasuries in June, a slight increase of 2.3 billion dollars from the previous month, after dropping for three months in a row.

Combined, China and Japan still held more than one third of the total foreign holdings of U.S. Treasuries in the month.

Overall, foreign holders of U.S. Treasuries had 6.6363 trillion dollars of government debt in June, up 97.2 billion dollars from May, indicating growing demand for the safe-haven asset.