China's per capita GDP expected to reach $10,000 by 2020

[NiceGuy]

Don't make fun of him anymore. let me tell him the truth. There are no starving kids in China, except in the cases of unqualified parents. drug addicts for instance.

Forget those poor kids starving & frozen to death in trash bin , and 4 young siblings commit suicide before they starve to death bcz their parent cant have enough food for them??

TPP serving for U.S not for Vietnam, whatever u praise the TPP, it's just a TOOL created by American to earn the most benefit from the market of new developing nations like Vietnam ... Without U.S there's no TPP, if TPP not good for U.S there's no TPP, it won't save Vietnam coz TPP isn't the tool created by Vietnamese.

I said China not need TPP, World N.o2 Economy trades bigger than TPP. Without TPP Sino-U.S trade still continue, no stop.

TPP bring good benefit to VN , too.We also can quit TPP if no benefit for VN.

U can lie that Sino-U.S trade still continue after TPP, but stock market dont lie, u cant fool stock players in CN, they can feel the heat, so they wanna cut loss as much as possible.

 

[cnleio]

Forget those poor kids starving & frozen to death in trash bin , and 4 young siblings commit suicide before they starve to death bcz their parent cant have enough food for them??


TPP bring good benefit to VN , too.We also can quite TPP if no benefit for VN.

U can lie that Sino-U.S trade still continue after TPP, but stock market dont lie, u cant fool stock players in CN, they can feel the heat, so they wanna cut loss as much as possible.

HaHa ... u can continue the China Collaspe dream, but now i continue my China 3D printer thread. See u there !

 

[cnleio]

I just wanna say that CN economy keep soaring is just a cheap propaganda from China's Vice Finance Minister Zhu Guangyao . So, pls dont post CN cheap propaganda here while CN stock-It only make pple laugh at u

I was the guy ever saw 1,600 point China stock market during 2008~2009, nothing suprise to me & not a big deal in China ... after 2008 during that seven years, the only suprise to me it's China still not collapse. Current China stock market bigger than 2008, and in 2010 surpassed Japan as World N.o2 Economy, does that make u feel shocked ? HaHa ... maybe China should collapse in 2008, but not !

 

[NiceGuy]

I was the guy ever saw 1,600 point China stock market during 2008~2009, nothing suprise to me & not a big deal in China ... after 2008 during that seven years, the only suprise to me it's China still not collapse. Current China stock market bigger than 2008, and in 2010 surpassed Japan as World N.o2 Economy, does that make u feel shocked ? HaHa ... maybe China should collapse in 2008, but not !

In 2008, the whole world believed that US stock may crash again like in 1933, thats why every one panic and tried to cut loss. But US didnt crash, so, the stock of the world go up again.

But things r different for CN now. US r trying all ways to bring CN economy down, US want CN economy collapse so CN cant take No 1 pos. from US. So, this time, if your stock go down, it never can go up again, thats the reason why your Govt.try to do everything they can to stop the crash

 

[PLANZubr]

Just from drilling oil in the South China Sea, our economy will grow 10+% per year.

 

[IR-TR]

In 2008, the whole world believed that US stock may crash again like in 1933, thats why every one panic and tried to cut loss. But US didnt crash, so, the stock of the world go up again.

But things r different for CN now. US r trying all ways to bring CN economy down, US want CN economy collapse so CN cant take No 1 pos. from US. So, this time, if your stock go down, it never can go up again, thats the reason why your Govt.try to do everything they can to stop the crash

It did. They just borrowed a trillion dollars from China to prop up their economy.

 

[IN-2030]

If China reevaluated its GDP using Modi's method, can we achieve $13,000 by 2020?

Modi fobia Get well soon dude

 

[Beidou2020]

NiceGuy and his TPP

The dude has been going on about his little TPP for the past month.

 

[TaiShang]

China energy consumption rises in first half of 2015

China's energy consumption rose 0.7% year-on-year in the first half of 2015, according to the National Energy Administration (NEA). Energy consumption is predicted to increase further in the second half, according to official.

The energy authority says coal use declined in the first half of the year, while consumption of oil, natural gas and renewable energy increased.

Meanwhile, China generated more electricity from clean energy resources in first half of 2015, as the country strived to boost the use of non-fossil fuel sources in its energy structure.

Electricity generated from non-fossil energy increased 16% in first half of 2015 compared to same period last year, according to Liu Qi, vice chief of the NEA.

Additionally, about 22.9% of the total electricity generated in the country was from non-fossil energy, up 3% from same period last year.

The NEA forecasts that total power use in the year will likely reach 5.7 trillion kilowatt-hours, up about 3% year-on-year.

“Judging from major macroeconomic and energy indicators in Q2, the effects of China's measures to stabilize growth have started to gradually unfold.”

“We expect a rebound in energy demand in the second half, medium-to-low growth of energy consumption for the full year, and an overall relaxed supply and demand,” said Liu Qi.

 

[cirr]

China's per capita GDP would reach 10000 USD in 2016 if it were to use SNA 2008 for the calculation of economic output following the examples of the US，the EU、Japan and，surprise surprise，INDIA。

 

[TaiShang]

China's H1 tax revenue up 6.3%
July 27, 2015
China collected 5.94 trillion yuan (969 billion U.S. dollars) in taxes in the first half of this year, up 6.3 percent year on year, new data showed on Monday.

The growth pace was in line with the overall economic growth in the first six months, the State Administration of Taxation said in a statement.

It attributed the growth to China's economic recovery, which posted a better-than-expected growth of 7 percent in H1, thanks to the government's continued pro-growth policies and reform measures.

Tax collected from the tertiary industry grew by 6 percent, with its tax revenue accounting for 56 percent of the total in H1, while tax from the secondary industry rose 3.1 percent.

Tax collected from the financial sector posted a strong growth of 31.4 percent, the main driving force for the overall tax revenue growth.

In the same period, tax refunds for exported goods surged 12.4 percent to 656.5 billion yuan.

 

[cirr]

China's per capita GDP expected to reach $10,000 by 2020
July 27, 2015

(file photo)
"China will be able to achieve its 7% economic growth goal in 2015, and the country's potential economic growth rate will hover between 7 and 8 percent from 2016 to 2020, "China's Vice Finance Minister Zhu Guangyao said in Beijing Saturday.

China's GDP will reach 100 trillion yuan ($16.11 trillion), with per capita GDP would reach $10,000 by 2020, as the country transforms itself into a well-off society, Zhou said at the NetEase Annual Economist Conference.

China's 2015 GDP will reach 11.3 trillion or thereabouts。

Natural growth in 2016 will add over a trillion to 2015‘s figure。It has been estimated that the adoption of SNA will easily add a further trillion。

13.5 trillion or 10000 per capita in 2016。

China is bending over backwards to delay the day when it is officially pronounced the world's largest economy。

 

[TaiShang]

Growth up, but investment still vital
By Wang Jiamei 2015-7-28 0:08:01

Infrastructure projects needed for stability: experts

A worker at a textile plant in Huai'an, East China's Jiangsu Province File photo: IC

While data from provincial authorities has shown faster growth in the second quarter of this year, infrastructure investment will remain a key tool for local governments to keep their economies stable in the second half, experts told the Global Times Monday.

As of Sunday, 26 out of the country's 31 provinces, municipalities and autonomous regions had released their first-half GDP figures, with 24 reporting a rise in growth from the first quarter. The only exceptions were East China's Shandong Province and Anhui Province, which both registered identical first-quarter and first-half GDP growth numbers.

Economic growth in the central and western areas was more impressive than in the eastern coastal regions.

So far, Southwest China's Chongqing Municipality and Guizhou Province are the only two regions to have reported double-digit GDP growth for the first half, with growth rates reaching 11 percent and 10.7 percent, respectively.

There are two main reasons behind the faster growth in western China, according to Li Youhuan, a senior economist at the Guangdong Academy of Social Sciences.

"First, the local economies are generally smaller than their eastern counterparts," he told the Global Times Monday. "Second, the central government has conducted a lot of infrastructure investment in western regions, in an effort to rebalance the regional economies."

South China's Guangdong Province saw growth of 7.7 percent in the first half, while East China's Zhejiang Province and Shanghai Municipality reported growth of 8.3 percent and 7 percent, respectively.

Although growth figures in the coastal areas were not hugely impressive, local industrial structure in those areas has been greatly improved, and local governments' efforts to push forward with structural transformation are starting to pay off, Ye Hang, a professor at Zhejiang University College of Economics, told the Global Times.

For instance, the services sector contributed the largest proportion of GDP in Zhejiang Province, reaching nearly 65 percent in the first half, an increase of 12.1 percentage points compared with the same period in 2014.

Meanwhile, Northeast China's Liaoning Province reported GDP growth of 2.6 percent in the first half, the lowest nationwide as of Sunday.

Southwest China's Tibet Autonomous Region, North China's Shanxi Province and Inner Mongolia Autonomous Region as well as Northeast China's Jilin Province and Heilongjiang Province have yet to release their first-half GDP data.

Despite the generally faster growth, provincial-level governments are aware of the potential for substantial downward pressure in the second half, as the recovery "still lacks a solid foundation," the Shanghai Securities News reported Monday.

In order to ensure stabilized growth in the second half, local authorities will continue to focus on investment, especially infrastructure investment, the report said. Southwest China's Sichuan Province said that it is planning several major industrial and infrastructure projects, while North China's Tianjin Municipality said it will continue the good momentum in the first half by accelerating project construction.

Analysts said the need to maintain such projects reflects uncertainties in the economic outlook for the second half.

"It usually takes three to six months for infrastructure investment to have an impact on economic growth, so it is necessary to take some measures such as planning for more infrastructure investment, to ensure growth remains stable," Ye said Monday.

China is working on transforming its investment-driven economy into one based more on consumption, but this cannot be achieved in one day, according to Li.

"During the transition process, appropriate investment is still crucial for ensuring steady economic growth and a stable social environment," Li noted.

 

[S10]

I would say some of the coastal areas already way exceeded the middle income status. I have friends and relatives making 20,000 yuan a month in Beijing, Shanghai and Guangzhou. They're just earning middle class salaries, being cops, nurses, lawyers etc. That's roughly 4000 Canadian dollars a month, which is about how much I actually get after payroll and tax deductions.

 

[TaiShang]

China still has strong economic fundamentals to achieve long-term, sustainable growth
2015-7-26 22:43:01

Illustration: Luo Xuan/GT


There have been a lot of discussions in recent months about whether China's economy is heading for a collapse given the weak industrial output and volatility in the country's equity market.

But contrary to some observers' grim views about China's economy, I have full confidence in its outlook. There is a good foundation for economic development in the country and the economy is likely to expand sustainably in the coming years. This is not only my personal opinion, but one that is held by most analysts and government officials in Russia.

Russia's economy shrank by 4.7 percent in the second quarter from a year earlier, and the country needs large-scale investment in sectors such as high-tech manufacturing, financial services, education and medical industries to boost economic development and speed up its process of modernization. China faces less difficulties in this area because the country has plentiful financial resources as the world's second-largest economy.

China's economic growth in the second quarter was unchanged from the first quarter at 7 percent year-on-year. This may be the weakest level of growth since the global financial crisis, but in my view it is still a good result for the Chinese economy, given that it faces downward pressure in both the domestic and overseas markets. One of the factors behind the current growth level is China's economic restructuring, which may have a negative impact on short-term expansion but can help to boost growth in the long term. Another key factor is the sluggish global economic recovery, especially in the country's main trading partners such as the EU.

If there are widespread concerns in the global market over the Chinese economy, it's mainly because the country was once a shining star with double-digit GDP growth levels.

To spur the slowing economy, China's central bank has eased monetary policy since November by cutting interest rates and banks' reserve requirement ratio. But monetary policy easing is not a miracle cure for all problems, even though it's a very important tool of macroeconomic regulation. China should focus more on boosting its long-term growth potential by investing in human capital and improving labor productivity.

There has also been debate about whether China should release more liquidity and launch a quantitative easing (QE) program. I am not sure it's possible for China to roll out such a program, because there is a greater likelihood of QE leading to inflation in a relatively closed financial system that has barriers to cross-border capital flows. The US and Japan have more open financial systems, so inflation risks from QE programs in those countries was relatively low.

More important than easing is China's ongoing economic reform. Some observers have said the pace of China's economic reform has been slower than expected, but the country should not be disturbed by such opinions and should follow its own pace of reform in order to avoid disruptions in its economy. In the case of yuan exchange rate reform, it could be dangerous if the reform goes too fast. Moving to a free-floating exchange rate regime should happen step by step, which will help to protect Chinese exports from enormous losses caused by yuan appreciation.

The yuan has the potential to become a global reserve currency, without having a negative impact on exports and the overall Chinese economy at the same time.

Meanwhile, Russia is also making active economic adjustments to develop and restore its economy. The economies of Russia and China can complement each other, as Russia is a country that currently lacks sufficient investment, while Chinese enterprises are eager to invest and expand overseas. This could lead to greater economic cooperation between the two countries.

Pakistan, Mongolia, and other central Asian countries are also likely to open their markets to Chinese investment as part of China's "One Belt, One Road" initiative. It is a global initiative that can benefit all the economies involved, and potential investment from China will be important for the region's development.