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2022-08-04

China's economy secures positive Q2 growth, steam gathering for further recovery

China's economy secures positive Q2 growth, steam gathering for further recovery Source:Xinhua 16-07-22 02:59 Updated BJT Font size:A+A- * The Chinese economy has achieved positive growth in Q2 despite downward pressure. * A growing raft of monthly economic data indicates that the economy is regaining footing. * The foundation for the sustainable and steady recovery of the economy will be further consolidated. BEIJING, July 15 (Xinhua) -- The Chinese economy has achieved positive growth in the second quarter (Q2) of 2022 despite downward pressure, with a recovery trend building up on the back of swift and strong policy support. The GDP of the world's second-largest economy expanded 2.5 percent in the first half of this year, data from the National Bureau of Statistics (NBS) showed Friday.
2022-08-04

China's steady economic recovery boosts global expectations for future growth

China's steady economic recovery boosts global expectations for future growth Source:Xinhua 19-07-22 09:16 Updated BJT Font size:A+A- * As consumer spending has gradually warmed up, China's vast domestic market has played a vital role in helping cushion the effects of any downward pressure. * Efforts have been made to promote innovation, boost consumption and curb inflation to help unlock the enormous potential of the world's biggest consumer market. * China has a solid foundation for further economic growth due to its large population and domestic demand, which allows the economy to remain reasonably stable in the long run. * China is also at the global forefront of the digital economy and sustainable development, two new drivers of economic growth for the country's medium- and long-term growth. by Xinhua writer Zhao Wencai BEIJING, July 18 (Xinhua) -- A string of recently released econo
2022-08-04

What China will do to boost industrial resilience

What China will do to boost industrial resilience Source:Xinhua 20-07-22 09:55 Updated BJT Font size:A+A- BEIJING, July 19 (Xinhua) -- China's industrial economy showed great resilience in the first half of the year amid complex situations at home and abroad. The value-added industrial output went up 3.4 percent year on year in H1. In June alone, industrial output growth quickened to 3.9 percent year on year, expanding by 3.2 percentage points from that in May, official data showed. Looking ahead, there is much to be anticipated in the high-quality development of the nation's industrial economy. The following are some facts, figures and development measures of several key sectors provided by the Ministry of Industry and Information Technology at a press conference on Tuesday. DIGITAL ECONOMY China's digital economy has ranked second in the world for several years and has driven the country's overall economic growth. In H1, the growth of the "contactless"
2022-08-04

How China's push for economic stability bolsters global recovery

How China's push for economic stability bolsters global recovery Source:Xinhua 21-07-22 09:31 Updated BJT Font size:A+A- China's economy saw a steady recovery amid the increasingly complicated global environment, demonstrating its strong resilience and ample potential for long-term development. by Xinhua writer Wang Lei BEIJING, July 20 (Xinhua) -- On the shop floor of Shaoxing's Buting textile company in east China's Zhejiang province, processing and manufacturing machines are humming around the clock. Container trucks loaded with colorful textile fabrics are ready to depart for the Ningbo-Zhoushan port, one of the world's busiest ports in terms of cargo throughput. Located at Shaoxing's Keqiao District, a global textile distribution center, the company has managed to keep an upward momentum in production and sales after a pause caused by the COVID-19 pandemic. By sticking to a dynamic zero-COVID policy, China has largely put the latest waves of the pandemic under control. And manufacturers in the country
2022-08-04

China's grain production expected to remain stable in 2022

China's grain production expected to remain stable in 2022 Source:Xinhua 21-07-22 09:31 Updated BJT Font size:A+A- BEIJING, July 20 (Xinhua) -- China is expected to see stable grain production this year, despite challenges including rare autumn floods last year, sporadic resurgences of COVID-19 cases and drastic fluctuations in the global farm produce market, an agricultural official said Wednesday. "China is witnessing a sound grain production situation this year," Liu Lihua, an official with the Ministry of Agriculture and Rural Affairs, said at a press conference. The country saw its summer grain output increase by 1.435 billion kg this year and has harvested over 60 percent of its early rice. China is expected to secure a bumper autumn harvest, Liu said, citing that the planting area has seen a steady expansion this year and the growth process of autumn grain crops is normal. Autumn grain accounts for 75 percent of China's total grain output, while summer grain and early rice make up the rest.
2022-08-04

China's digital economy hits 7.1 trln USD: white paper

China's digital economy hits 7.1 trln USD: white paper Source:Xinhua 31-07-22 10:23 Updated BJT Font size:A+A- BEIJING, July 30 (Xinhua) -- China's digital economy reached 7.1 trillion U.S. dollars in 2021, according to a white paper on the global digital economy. The country's digital economy accounts for more than 18 percent of the amount of 47 major countries included in the white paper, ranking second after the United States, said the white paper issued by the China Academy of Information and Communications Technology on Friday. Digital economy is a key force driving China's economic development. The white paper shows that from 2012 to 2021, the average growth rate of China's digital economy was 15.9 percent, and the country's digital economy's share in GDP increased from 20.9 percent to 39.8 percent. According to the research, Germany, Britain, and the United States ranked among the top three in terms of their digital economy's share in GDP, all exceeding 65 percent. While in terms of growth rate, Norway's digital economy increased by 34.4 percent year on year, the fastes
2022-06-10

China makes all-out efforts to prop up foreign trade

China makes all-out efforts to prop up foreign trade Source:Xinhua 30-05-22 10:30 Updated BJT Font size:A+A- BEIJING, May 29 (Xinhua) -- Against the headwinds from COVID-19 resurgences and external complexity, China's efforts are underway to stabilize and upgrade foreign trade, a key underpinning for the economy. The latest data showed a feeble April growth of only 0.1 percent in the total exports and imports, indicating that the country's foreign trade firms are under strain. To help foreign trade navigate the trough, a guideline was released by the country's cabinet earlier this week, specifying 13 targeted measures toward this end. It requires enhanced services for key foreign trade enterprises and unimpeded cargo logistics. Apart from increasing fiscal and financial support for foreign trade enterprises, the country will also seek to bolster cross-border e-commerce, it says. UNCLOGGING LOGISTICS The fresh guideline, in particular, prioritizes ensurin
2022-06-08

China adopts targeted measures to bolster foreign trade growth

China adopts targeted measures to bolster foreign trade growth Source:Xinhua 09-06-22 09:30 Updated BJT Font size:A+A- BEIJING, June 8 (Xinhua) -- In the face of increasing external and internal disruption factors, China has adopted a slew of targeted measures to bolster the growth of its foreign trade sector. In an effort to help foreign trade firms navigate difficulties, the State Council, China's cabinet, issued a guideline last month to improve services and provide more financial and fiscal support for the enterprises. To add further stability to the sector, 27 government departments, including China's top economic planner, the commerce ministry and the central bank, have rolled out relevant policies, which mainly focus on smoothing foreign trade logistics, strengthening financial support for foreign trade firms and stabilizing the industrial and supply chains of foreign trade. These measures aim to secure market entities, stabilize their orders and markets, and protect their confidence, Vice Commerce Minister Wang Shouwen told a press conference on Wednesday.
2021-11-19

Sea-Intelligence – Press Release (Nov 16th, 2021)

Rate reduction could take 18-30 months In issue 540 of the Sunday Spotlight, we analysed the composite CCFI freight rate index, to see how quickly freight rates could normalise, if using history as a guide. In figure 1, we narrowed down the CCFI to the pre-pandemic data, and identified 5 periods of sustained rate decreases (marked in red), as well as 5 periods of sustained rate increases (marked in green). Based on this, we defined the time periods of increases and decreases, and analysed each separately. We measured the rate of decline in terms of the average percentage point drop per week, over the full period of each of the 5 decline periods. This ranged between -0.4% and -0.9% per week. If these time periods are to reflect the inherent pricing mechanisms in the industry, we can use them to calculate a reversal back to normality. This, however, presents the next question: what is a normal rate level? Based on historical CCFI data, this is represented by rate levels around index level 1000. This represents a decline of -69% from the current rate level. During the global financial crisis of 2008-2009, rates declined at the fastest rate of a weekly decline of -0.9%, and if we apply this speed of decline to the current rate levels, it would take 18 months to get back to [normal". If, however, the rate of decline matches the average seen over the 5 rate decline periods, then normalization would take as much as 26 months. However, it can be argued that the current increase is much stronger than before, and that should be accounted for. To do this, we calculated the average weekly rate increases for the 5 periods with rate increases. On average, over the 5 periods of decline, the rates dropped -0.6 percentage points per week, on average. Over the 5 periods of increase, we saw rates go up by 1.1 percentage points over the period. This implies a factor of 1.8 between increases and decreases, meaning that rate
2021-11-17

Manufacturing in United States closes a tough year with weakest performance

Manufacturing in United States closes a tough year with weakest performance BY MEGGAN HILL ON JANUARY 28, 2020 The manufacturing of United States has closed a tumultuous year with this weakest performance in a month after the end of recession as the orders had shrunk and the factories had continuously dialled the production back. The yields of Stock and Treasury which had been already lowered post the airstrike of United States killing a leader of the military and extending the declines post this report. The PMI (Purchase Manager`s Index) of supply managers has fallen to 47.2 in the month of December from a point of 48.1 which is the fifth month in a row where the contraction has taken place and not up to the mark for estimates in the economist survey as per a report on Friday. This is the worst it has been since the month of June in 2009 and marked the decline for the eighth time in nine months. Any reading which is below the 50 mark indicates that the activity is shrinking. The deterioration had been driven by the gauges of the new orders and production being weakest after April 2009. This data is showing that the American Factories had remained plagued due to the pullbacks in the b

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