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China’s National Development and Reform Commission (NDRC) has shed more light on a series of subtle and indirect economic stimulus efforts being pondered at its monthly press conference on November 15 in Beijing, and China’s steel market has sourced great support from these, as many of them relate to steel consumption.
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China’s fixed asset investment (FAI) in general grew 5.2% on year to Yuan 51.1 trillion ($7.3 trillion) over January-October, and the growth in the funding in the property sector was recorded at 10.3%, according to the latest release from the country’s National Bureau of Statistics (NBS) on November 14.
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China's fixed asset investment in general grew5.2% on year to Yuan 51.1 trillion ($7.3 trillion) over January-October, among which the funding in the property market went up 10.3% on year to Yuan 11 trillion. A detailed story will be posted soon.
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China and the U.S. have agreed to roll back tariffs on each other’s goods in phases “at the same time” and “by the same degree” as part of the “phase one” trade deal if it is to be reached, Gao Feng, spokesman of China’s Ministry of Commerce (MoC) confirmed at the press conference in Beijing on November 7.
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China’s 2020 GDP growth may slow down further to around 5.8% from 6.1% this year, and the investment in property sector is expected to ease next year, Ren Zeping, Chief Economist of Evergrande Group shared his projection on October 31 at Mysteel’s 2019 Steel Value Chain Derivatives Summit in Xiamen, Southeast China’s Fujian province.
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China's October steel PMI hit a 46-month low of 41.3, down 2.9 basis points on month. A detailed report will be posted soon.
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China’s economic growth has been declining further mainly due to low rises in investments nationwide especially in the domestic real estate and manufacturing sectors, stated Zhang Liqun, the research fellow of Department of Macroeconomic Research of Development Research Center of the State Council, on the 10th China Ferroalloy Industry Conference 2019 in Hangzhou, East China’s Zhejiang province.
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China has been shifting steadily towards clean energy consumption, and over January-September, the country’s consumption of clean energy including natural gas, hydro, nuclear solar, and wind power grew 1.2 percentage points on year, according to the latest statistics from the country’s National Bureau of Statistics (NBS).
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China’s GDP grew 6.2% on year over January-September, still within Beijing’s 6-6.5% economic growth target for 2019, though the growth for Q3 fell another 0.2 percentage point from Q2 to 6% on year, or a new low after Q2 since China started the GDP statistics in 1992, according to the latest statistics from the country’s National Bureau of Statistics on October 18.
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China's fixed asset investment (FAI) in general grew 5.4% on year to Yuan 46.1 trillion ($6.5 trillion) over January-September, down 0.1 percentage point from that for the first eight months, while the funding in the property market maintained its growth at 10.5% on year, the same as that for January-August, according to the latest release from the country’s National Bureau of Statistics (NBS) on October 18.
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China's gross domestic products (GDP) grew 6.2% on year for the first three quarter of 2019, and its fixed asset investment grew 5.4% on year over January-September, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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China’s import and export value reached Yuan 22.91 trillion ($3.2 trillion) over January-September, up 2.8% on year, according to data released by China’s General Administration of Customs (GACC) on October 14.
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China needs to switch its economic development goals from high-speed growth to high quality, said Yang Jianlong at the 19th China International Steel & Raw Materials Conference in Qingdao, East China, on September 26. Yang is Deputy Director of Research Department of Industrial Economy at the State Council’s Development Research Centre.
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China’s national economy maintained steady progress up to August, weathering a challenging environment with a mixture of gains and small declines, according to Fu Linghui, spokesperson of the National Bureau of Statistics.
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China's fixed asset investment (FAI) in general grew 5.5% on year to Yuan 40.1 trillion ($5.6 trillion) for January-August, with the growth slowing down 0.2 percentage point from January to July. Investment in the property market grew 10.5% on year over the eight months, though this too was down 0.1 percentage point from January to July, according to the latest updates from China’s National Bureau of Statistics (NBS) released on September 16.
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It is rather interesting to see different interpretations inside and out of China whenever the world’s second largest economy releases economic-related figures, and its latest foreign trade release for the first eight months of 2019 has been a vivid example.
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry retreated 0.2 basis point on month to 49.5 for August, as production continued with the expansion, while demand was under pressure, according to the latest report from China’s National Bureau of Statistics (NBS) released on August 31.
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China’s State Council Tariff Commission will impose 5% and 10% tariffs on the U.S. goods worth $75 billion on or 5,078 items in two batches respectively on September 1 and December 15 as the countermeasures to the U.S. announcement on the 10% tariffs on Chinese goods worth $300 billion also in two batches on these two dates.
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The escalating Sino-U.S. trade friction is expected to pose affection on China’s steel market sentiment more than on the direct and actual steel exports or consumption, China’s steel market sources commented on August 23.
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Over January-July, China's fixed asset investment (FAI) in general grew 5.7% on year to Yuan 34.9 trillion ($5 trillion), among which that in property market grew 10.6% on year, both being down 0.1 percentage point and 0.3 percentage point respectively from the first half of 2019, according to latest updates from China’s National Bureau of Statistics (NBS) on August 14.
