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China’s per capita gross domestic product averaged Yuan 72,447 ($11,190), or up 2% on year, confirming the country has been qualified as a well-off society, and it had also eliminated absolute poverty, as the living standard of all the poor people in the countryside exceeded the bottom line of Yuan 2,300/year, Mysteel Global noted from the latest release by the country’s National Bureau of Statistics (NBS).
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Inner Mongolia in North China, now the country’s second-largest coal mining region after Shanxi in North China too and with the most competitive power charges, mulls blocking any new industrial projects including steel, coke, ferroalloys, non-ultra-high electrode graphite and aluminium starting 2021, aiming to rein in on the region’s power consumption mainly by such industrial plants, according to a draft by its Development and Reform Committee.
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China’s Purchasing Managers’ Index (PMI) for the manufacturing industry slid for the third month in February, easing by 0.7 basis point on month to 50.6, with the country’s National Bureau of Statistics (NBS) attributing the on-month decline mainly to the Chinese New Year (CNY) holiday over February 11-17. Despite the dip, the national PMI has nonetheless remained in the expansion zone for the twelfth month, according to Bureau’s latest release on February 28.
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Home is where parents are in the Chinese culture. But for this year’s Chinese New Year celebrations, many Chinese working in cities or in other countries away from their places of birth will probably have to bear the separation from their parents for CNY for the first time this year, and all for a common reason – the COVID-19 virus. For the unluckier ones, this might even be the second time they’ll miss their annual family get-together.
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China’s sales and output of automobiles jumped by 29.5% and 34.6% respectively on year last month, the China Association of Automobile Manufacturers (CAAM) released the latest numbers on February 9, attributing the robust performance to the remaining solid demand for vehicles and at the same time low base numbers for January 2020.
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The Purchasing Managers’ Index (PMI) for China’s manufacturing industry eased for the second month in January by another 0.6 basis point on month to 51.3, or in the expansion zone for the eleventh month, though the pace of expansion slowed down, as the resurgence of the COVID-19, Zhao Qinghe, senior statistician of the country’s National Bureau of Statistics (NBS) was quoted explaining in the release on January 31.
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For 2020, China’s sizeable industrial enterprises posted a 4.1% on-year increase in their total gross profits to Yuan 6.45 trillion ($1 trillion), with telecommunication, computer, and other electronics manufacturers and automakers being the top two contributors of the total profits, according to the latest sharing by the country’s National Bureau of Statistics (NBS) on January 27.
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China’s gross domestic product grew 2.3% on year for the whole of 2020, exceeding Yuan 100 trillion ($15.4 trillion) for the first time ever and approximating Yuan 101.6 trillion， and all the key sectors also performed better than excepted, Mysteel Global noted from the latest release by the country’s National Bureau of Statistics.
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China’s fixed asset investment (FAI) continued to grow in the last month of 2020, and the whole year’s total FAI grew 2.9% on year, up 0.3 percentage point from the gain in the first eleven months, among which the funding in the property market grew more substantially by 7% on year for 2020, or 0.2 percentage point more than the rise for the first eleven months, according to latest release by the country’s National Bureau of Statistics (NBS).
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China's gross domestic product (GDP) grew 2.3% on year for the whole 2020, with the growth for the fourth quarter scoring 6.5% on year, or higher than the 4.9% on year for the third quarter, and the performance of the major sectors had been better than expected, according to the
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China’s fixed asset investment grew 2.9% on year during full year 2020, or 0.3 percentage point higher than that for the first eleven months, among which, the funding in the property grew 7% on year or 0.2 percentage point higher than the gain over January-November, according to the latest release
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China’s foreign trade value hit a record of Yuan 32.16 trillion ($4.97 trillion) for the whole 2020, higher by 1.9% year, while the country’s contribution to global trade reached 12.8% over January-October, according to the official data from the World Trade Organization, also a record high, shared Li Kunwen, the spokesperson of China’s General Administration of Customs on January 14.
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China’s Purchasing Managers’ Index (PMI) for the domestic manufacturing industry reversed down by 0.2 basis point from the year’s high in November to 51.9 in December, but it stayed in the expansion zone for the tenth straight month or the second high for 2020, indicating that China’s manufacturing industry have been recovering steadily, according to the latest release from the country’s National Bureau of Statistics (NBS) on December 31.
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China’s Purchasing Managers’ Index (PMI) for the domestic manufacturing industry eased by 0.2 basis point on month to 51.9 for December, but having been above the benchmark of 50 for the tenth month, indicating the steady recovery in the country's manufacturing sector, according to the latest release from China's National
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China’s Purchasing Managers’ Index (PMI) for the steel industry reversed down by 3.4 basis points on month to 45.8 for December, with both demand and supply having shown signs of cautiousness in the last month of 2020, according to the latest release from the CFLP Steel Logistics Professional Committee. A
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In the 14th Five-Year Plan period (2021-2025), China will endeavor to build up a stronger and more resilient economy by stabilizing and upgrading its manufacturing, enhancing the self-reliance in the value chain of various industrial sectors, growing the enterprises with competitiveness, and building the new information technology infrastructure and environment, according to a post by the country’s Ministry of Industry and Information Technology (MIIT) on December 29.
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China’s economic recovery will continue to face challenges in 2021, as GDP growth will be rather high in the first quarter before subsequently easing over the year’s remaining three quarters, according to Chen Changsheng, director of Macroeconomic Research Department at China’s Development Research Center of the State Council. Moreover, the country’s high GDP growth in the near term will not be as hot as the numbers suggest because the base in 2019 was rather low, Chen noted in his presentation on December 19 at Mysteel Annual Summit.
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China’s overall fixed asset investment (FAI) and that in the property market both grew faster over January-November, up 2.6% and 6.8% respectively, being 0.8 and 0.5 percentage point higher for those over the first ten months of 2020, according to latest data from the country’s National Bureau of Statistics (NBS) on December 15.
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China’s national economy had been recovering steadily until November, with industrial and service sectors continuing to improve, investment and consumption also changing for the better, and both employment and consumers goods’ prices largely stable, the country’s National Bureau of Statistics (NBS) summarized in the latest release on December 15.
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China's fixed asset investment grew 2.6% on year over January-November, or 0.8 percentage point higher than that for the first ten months, among which, the funding in the property grew 6.8% on year or 0.5 percentage point higher than the gain over January-October, according to the latest release by the
