Xinhua: China's industrial output falls 13.5 pct as virus hurts activities

[LKJ86]

China's industrial output falls 13.5 pct as virus hurts activities
Source: Xinhua | 2020-03-16 10:39:59 | Editor: huaxia

BEIJING, March 16 (Xinhua) -- China's value-added industrial output, an important economic indicator, fell 13.5 percent year on year in the first two months of 2020 as the novel coronavirus outbreak disrupted factory activities and supply chains, data from the National Bureau of Statistics (NBS) showed Monday.

Output by the manufacturing industry went down 15.7 percent, while the production and supply of electricity, thermal power, gas and water reported a year-on-year decrease of 7.1 percent.

The mining sector saw output down by 6.5 percent.

While the epidemic has incurred relatively big shocks to economic activities, the impacts are largely "short-term, external and controllable," the NBS said in a statement.

As the spread of the virus has been basically contained, China's improving economic fundamentals and the trend of upward momentum in the long term have not changed, the NBS noted.

"The economy has withstood the shocks of the epidemic," it added.

In a breakdown by ownership, the output of state-controlled enterprises went down 7.9 percent, that of joint-stock companies down 14.2 percent, and that of overseas-funded enterprises dropped by 21.4 percent.

Output by the private sector went down 20.2 percent year on year.

The industrial output is used to measure the activity of designated large enterprises with annual business turnover of at least 20 million yuan (about 2.86 million U.S. dollars).

 

[LKJ86]

China's retail sales down 20.5 pct in first two months as virus hurts economy
Source: Xinhua | 2020-03-16 10:09:46 | Editor: huaxia

BEIJING, March 16 (Xinhua) -- China's retail sales of consumer goods, a major indicator of consumption growth, declined 20.5 percent year on year in the first two months of this year as the novel coronavirus outbreak hit the economy, the National Bureau of Statistics said Monday.

 

[Beidou2020]

The worst is over as activity is resuming. China will be the first to recover and the fastest to recover.

 

[Whizzack]

The worst is over as activity is resuming. China will be the first to recover and the fastest to recover.

And that is good news for the rest of the world... At least we now have one major industrial power that can still produce (and export) goods while the rest are going into lockdowns...

 

[Beidou2020]

And that is good news for the rest of the world... At least we now have one major industrial power that can still produce (and export) goods while the rest are going into lockdowns...

China is the number 1 manufacturing and industrial power in the world. China is also the 2nd largest consumer market in the world. In many categories, China is the number 1 consumer market. Don’t forget China’s consumption power.

 

[lcloo]

The most important thing is that China has began exporting millions of face masks.

In Malaysia, I have no luck buying any face masks in local pharmacies for the past one and half months.

 

[LKJ86]

Shanghai’s Yangshan Deep-Water Port resumes normal operations as COVID-19 wanes

 

[hirobo2]

US bankers getting rich buying back all the stocks they sold in Nov-Feb. China GDP growth will experience burst in the next couple of years coz everyone is "poor" now, and when they r poor they will turn to Chinese goods to squeeze a bargain out of every dollar. Hence, the biggest winners of Covid19 will be US elite stock market bankers and China.

 

[Han Patriot]

US bankers getting rich buying back all the stocks they sold in Nov-Feb. China GDP growth will experience burst in the next couple of years coz everyone is "poor" now, and when they r poor they will turn to Chinese goods to squeeze a bargain out of every dollar. Hence, the biggest winners of Covid19 will be US elite stock market bankers and China.

This virus might turn out good for China. Essentially only we can satisfy the demand, US is now fcked, they can't afford another trade war. Might be the chance to start Rmb trading system with poorer countries.

 

[LKJ86]

China's major industrial enterprises near full production resumption
Source: Xinhua | 2020-03-17 10:57:40 | Editor: Lu Hui

BEIJING, March 17 (Xinhua) -- Over 90 percent of the major industrial enterprises in China's provincial-level regions except for certain areas including Hubei, once the hard-hit province of the novel coronavirus, have resumed work and production thanks to region-specific restoration measures, the top economic planner said Tuesday.

Regions including Zhejiang, Jiangsu, Shanghai, Shandong, Guangxi, and Chongqing almost saw nearly 100 percent of their enterprises back on production, said Meng Wei, a spokeswoman with the National Development and Reform Commission.

Data on electricity use also pointed to highly recovered vitality across sectors. The nonferrous metals industry saw power use back to the normal level of last year, while the pharmaceutical, chemical and electronic industries saw their electricity use back to 90 percent of the normal level.

 

[Stranagor]

China's Secondhand Home Sales Snap Back as Covid-19 Comes Under Control

LIAO SHUMIN
DATE : MAR 17 2020/SOURCE : YICAI

China's Secondhand Home Sales Snap Back as Covid-19 Comes Under Control

(Yicai Global) March 17 -- The sales volume of secondhand housing in various Chinese cities is rapidly rebounding as the novel coronavirus is brought under gradual control.

Sales in 18 major Chinese municipalities climbed by a monthly 64 percent last week, and turnover has already recovered to about 90 percent of December's weekly average, sector data show.

Sales shrank on China's housing market last month from the impact of Covid-19, above all for secondhand properties, with 24 of 70 large and medium Chinese cities recording zero transactions, per figures the country's National Bureau of Statistics issued yesterday.

House resale transactions were quite active in Shanghai, Jinan, the capital of Shandong province, Nanjing, which is Jiangsu's capital, and Dalian in northeastern Liaoning province during the week of March 9 to March 15, reviving to 143.7, 127.5, 119.3 and 112.6 percent of their respective weekly averages in December before the Covid-19 outbreak, show transaction data on 18 major cities released yesterday by Beike Research Institute under China's largest real estate brokerage Linjia.

The average prices of newly-added residences available for resale in 12 of the 18 major cities all rose over those in the previous month, with Qingdao, Yantai -- both in Shandong -- Nanjing and Guangzhou having the highest growth, up by 6.2, 4.7, 3.8 and 3.5 percent, respectively.

Sales offices in various cities will successively resume operation as the epidemic is checked, pundits predicted, adding promotional events will also hopefully help unleash some demand.

 

[Han Patriot]

I reckon this will reduce growth by 40% but overall we will still grow. Don't forget the 2 month lockdown coincides with CNY so the income reduction is only 1.5 months.

 

[Stranagor]

China's major industrial enterprises near full production resumption

Xinhua, March 17, 2020

Over 90 percent of the major industrial enterprises in China's provincial-level regions except for certain areas including Hubei, once the hard-hit province of the novel coronavirus, have resumed work and production thanks to region-specific restoration measures, the top economic planner said Tuesday.

Regions including Zhejiang, Jiangsu, Shanghai, Shandong, Guangxi, and Chongqing almost saw nearly 100 percent of their enterprises back on production, said Meng Wei, a spokeswoman with the National Development and Reform Commission.

Data on electricity use also pointed to highly recovered vitality across sectors. The nonferrous metals industry saw power use back to the normal level of last year, while the pharmaceutical, chemical and electronic industries saw their electricity use back to 90 percent of the normal level.

 

[LKJ86]

Over 180 Chinese museums reopen amid falling new coronavirus infections
Source: Xinhua| 2020-03-17 16:27:31|Editor: huaxia

BEIJING, March 17 (Xinhua) -- More than 180 museums across the nation have reopened after month-long closures amid efforts to curb the spread of the coronavirus, according to a release published Tuesday by the National Cultural Heritage Administration.

Continuing precautions for epidemic control, these museums asked visitors to make online appointments and pledged to limit the total number of visitors, stagger visiting periods and offer digital tour services to avoid public gatherings, the release said.

The Chinese health authorities said Tuesday that it received reports of 21 new confirmed cases of novel coronavirus infection, 20 of which were imported cases, on the Chinese mainland on Monday.

 

[LKJ86]

Car plants greenlighted to resume work in Wuhan: official
Source: Xinhua | 2020-03-18 18:54:47 | Editor: huaxia

WUHAN, March 18 (Xinhua) -- Wuhan, China's "motor city" and the epicenter of the novel coronavirus outbreak, has allowed car producers and auto part suppliers to resume work, a Hubei provincial official said Wednesday.

Wuhan-based enterprises that are important to the national and global industry chains and those closely related to people's livelihood are allowed to continue operation or resume work, said Cao Guangjing, deputy governor of Hubei, where Wuhan is the capital, at a press conference.

Highlighting the province's status as the nation's major producer of cars and phosphate fertilizer, Cao said such companies are of considerable significance to the industry chains, and further delays in their work resumption could cause a major impact.

Wuhan is China's major auto production base, home to local joint ventures that produce Buick, Chevrolet, Renault, Peugeot and Honda, as well as a number of auto part-makers.

Other enterprises, except those on a "negative list," can restart no earlier than March 25 in Wuhan, according to Cao.

Companies on the "negative list," including cinemas, book stores, bars, gyms and restaurants, can not resume work before the epidemic ends, the official said, citing higher risks of infections there.

The industrial central province of Hubei reported just one new confirmed case of the novel coronavirus disease (COVID-19), from Wuhan, and no new suspected cases on Tuesday.