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Bulk commodity prices across China including those of steel are likely fluctuate within a reasonable band next year under the influence of the slowdown in the national and global economies, Lu Yanchun, head of the Department of Price under China’s National Development and Reform Commission, told the Mysteel Annual Seminar in Shanghai on Saturday.
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China’s property market, currently the prime mover of domestic economic growth, should remain stable next year, Chen Xiaotian told delegates attending the Mysteel Annual Seminar in Shanghai over the weekend. Chen is chairman of EH Consulting Co, a large Shanghai-based consultancy for real estate companies.
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Chinese economists and government officials speaking at the Mysteel Annual Seminar on December 15 in Shanghai agreed that the country’s economic growth for 2019 should draw upon China’s internal strengths including the continuing relaxation of taxation to boost consumption, maintaining fixed asset investment in infrastructure, and selectively loosing up controls over the property market.
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For 2019, China’s economic growth will be generally stable with perhaps just a modest decline, Zhang Junkuo, vice head of Development Research Centre of the State Council, said on December 15 at the Mysteel Annual Seminar in Shanghai.
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The closing price of Au99.99 gold at Shanghai Gold Exchange edged higher by 0.6% or Yuan 1.67/gram ($0.24/g) on day to Yuan 274.6/g on November 29, ending the drop over the past two days, mainly due to recent growing concern on the global economy and possible depreciation of the US dollar, according to gold analysts.
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China’s fixed asset investment (excluding rural households) increased by 5.7% on year to Yuan 54.76 trillion ($7.9 trillion) during the January-October period, according to the latest data from China’s National Bureau of Statistics released on November 14. The yearly FAI growth was up by another 0.3 percentage point from that during the first nine months.
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China’s spot gold price gained 0.5% in morning trading on the Shanghai Gold Exchange on October 25, partly due to investors choosing to hedge amid the downturns in the domestic and international stock markets, sources said.
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China’s fixed asset investment (excluding rural households) increased by 5.4% on year to Yuan 48.3 trillion ($7 trillion) during the January-September period, according to the latest data from China’s National Bureau of Statistics released on October 19. The yearly FAI growth was up by a slight 0.1 percentage point from that over the first eight months, Mysteel noted.
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China’s Purchasing Managers’Index (PMI) for the manufacturing industry reversed down 0.5 basis point on month to 50.8 for September but still staying above the benchmark 50 for the 26th successive month, indicating a continuing expansion, according to the latest release by China’s National Bureau of Statistics on September 30.
The slow-down
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China’s Customs Tariff Commission of the State Council will impose a 5% or a 10% tariff on another batch of the US-origin products valuing $60 billion starting September 24 in the response to the US’ latest announcement to impose a 10% tariff on additional Chinese goods valuing $200 billion on
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China’s fixed asset investment (excluding rural households) grew by 5.3% on year to Yuan 41.5trillion ($6.1trillion) during January to August this year, according to the latest data released by China’s National Bureau of Statistics on September14. Though FAI spending continues to increase, the NBS data show the growth rate slowing
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China is making changes to the export tax system applied to a total of 397 products including finished steel and non-ferrous metals products, according to a notice from the country’s Ministry of Finance, with some items attracting rebates for the first time while others will have their existing rebates increased.
From
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A recovery in consumer demand may lead to a rebound in gold prices during the remainder of this year, according to a recent report from the World Gold Council (WGC), which also noted gold demand for investment would strengthen if “one of the many macroeconomic risks materialize”.
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China’s fixed asset investment (excluding rural households) grew by 5.5% on year to Yuan 35.6 trillion ($5.2 trillion) over January to July, according to the latest data released by China’s National Bureau of Statistics on August 14. Growth in the country’s FAI was off by 0.5 percentage point from the level witnessed during January-June and was also the slowest since 1999, NBS said.
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Gold prices in China, the world’s largest consumer of the metal, have dipped over the past few days in response to currency shifts and an announcement from the US Federal Reserve.
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The world's gold price is expected to stay at the present level in the near future mainly because of a robust US economy, according to market sources on July 5.
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China's consumption and domestic production of gold both continued to decline in this year's first quarter, according to new data released by China's Gold Association (CGA) on April 16.
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Global gold price may climb up further in 2018 thanks to the expected increase in demand both for investment as well as for consumer products such as jewelry, market sources shared recently.
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China's fixed asset investment (excluding rural households) grew 7.2% in the first 11 months of this year, down 0.1 percentage point from the first 10 months, according to the latest statistics released by the National Bureau of Statistics (NBS) on November 14.
