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Andrew Mullen,Orange Wang



Articles by Andrew Mullen,Orange Wang

China GDP: economic growth slows to 7.9 per cent in second quarter, 12.7 per cent in first half of 2021

12 days ago

[unable to retrieve full-text content]China’s economy grew by 7.9 per cent in the second quarter of 2021 compared with a year earlier to post a 12.7 per cent growth in the first half of the year, the National Bureau of Statistics (NBS) announced on Thursday.This was just below expectations in the median survey of Bloomberg analysts, which had predicted 8 per cent growth between April and June, and down from the record first quarter growth rate of 18.3 per cent.Overall, China has set an economic growth target of “above 6 per cent”…

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China trade ‘likely to slow down’ in second half of year despite strong imports, exports in June

14 days ago

[unable to retrieve full-text content]China’s trade may slow in the second half of year, according to the customs administration, despite strong imports and exports in June, which both beat expectations.China’s exports grew by 32.2 per cent last month from a year earlier, to US$281.42 billion – up from the 27.9 per cent growth seen in May, data released on Tuesday showed. This was above the median result of a survey of analysts conducted by Bloomberg, which predicted 22.9 per cent growth.This was the 12th consecutive period of…

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China inflation: factory-gate prices remain high but fall slightly as global commodity prices level off

18 days ago

[unable to retrieve full-text content]Factory-gate price inflation in China remained high in June, data released on Friday showed, falling slightly from the near 13-year high a month earlier.The producer price index (PPI), which reflects the prices that factories charge wholesalers for their products, rose by 8.8 per cent in June from a year earlier, down from a gain of 9 per cent in May, the National Bureau of Statistics (NBS) said.This was in line with expectations, as a Bloomberg survey of analysts had predicted a rise of 8.8…

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US, China hold third trade talk in 2 weeks with ‘candid, pragmatic exchange of views’

June 10, 2021

[unable to retrieve full-text content]A further “candid and pragmatic exchange of views” has taken place between China and the United States, this time between Commerce Minister Wang Wentao and his American counterpart Gina Raimondo.China’s Commerce Ministry confirmed the talks took place on Thursday, following similar discussions between Chinese Vice-Premier Liu He and both US Trade Representative Katherine Tai and US Treasury Secretary Janet Yellen since the end of May.The two sides stated that dialogue and exchanges in the field…

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China’s factory-gate price inflation hits near 13-year high, manufacturers pass on surging raw material prices

June 9, 2021

[unable to retrieve full-text content]Factory-gate price inflation in China hit a 13-year high in May as manufacturers passed on the surging prices of raw materials, data released on Wednesday showed.The producer price index (PPI), which reflects the prices that factories charge wholesalers for their products, rose by 9 per cent in May from a year earlier, up from a gain of 6.8 per cent in April, the National Bureau of Statistics (NBS) said.This was above expectations, as a Bloomberg survey of analysts had predicted a rise of 8.5…

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China GDP: economy surged record 18.3 per cent in first quarter compared to a year earlier, but slowed versus fourth quarter

April 16, 2021

[unable to retrieve full-text content]China’s economy grew by 18.3 per cent in the first quarter of 2021 compared with a year earlier, the National Bureau of Statistics (NBS) announced on Friday. This is the highest quarterly year-on-year growth rate since data first began being published in 1993.This was just below expectations in the median survey of Bloomberg analysts, which had predicted 18.5 per cent growth between January and March. It marks a remarkable turnaround from the first quarter of 2020, when the economy suffered a…

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China trade: rebound continues as imports surge 38.1 per cent in March, exports up 30.6 per cent

April 13, 2021

[unable to retrieve full-text content]China’s imports and exports continued their strong rebound in March, data released on Tuesday showed. Exports grew by 30.6 per cent last month from a year earlier to US$241.13 billion, down from the 60.6 per cent seen in January and February, and below the median result of a survey of analysts conducted by Bloomberg, which predicted 38.1 per cent growth.This was still the ninth consecutive period of export growth, although the fact that exports fell by 6.6 per cent in March last year due to the…

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China inflation: factory gate prices jump most in almost three years in March as producers pass on rising costs

April 9, 2021

[unable to retrieve full-text content]China’s factory gate prices rose the most in more than two years in March, as producers passed on rising raw material prices, data released on Friday showed.The producer price index (PPI), which reflects the prices that factories charge wholesalers for their products, rose to 4.4 per cent in March from a year earlier, up from the gain of 1.7 per cent in February, the National Bureau of Statistics (NBS) said. This was above expectations, with a Bloomberg survey of analysts predicting a rise to 3…

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China’s economic recovery continued in March, driven by better-than-expected surge in service sector

March 31, 2021

[unable to retrieve full-text content]China’s economic recovery continued in March, powered by a better-than-expected surge in the service sector, data released on Wednesday showed. China’s non-manufacturing purchasing managers’ index (PMI) – a gauge of sentiment in the service and construction sectors – rose to a four-month high of 56.3 in March from 51.4 in February, according to data released by the National Bureau of Statistics (NBS). The result was above expectations, with analysts predicting a rise to 52.The official…

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China trade: export surge continued in December, pushing surplus to record high

January 14, 2021

[unable to retrieve full-text content]China’s exports continued to surge in December, data released by its customs agency on Thursday showed.Exports grew by 18.1 per cent last month from a year earlier, down from 21.1 per cent in November but above the consensus result of a survey of analysts, conducted by Bloomberg, which predicted 15.0 per cent growth.This was the seventh consecutive month of export growth, with China’s factories continuing to capitalise on coronavirus lockdowns in the West.Imports grew by 6.5 per cent in…

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China’s economic recovery broadened in November as retail sales, industrial production rose further

December 15, 2020

[unable to retrieve full-text content]China’s economic recovery broadened in November as both retail sales and industrial production growth accelerated, data released on Tuesday showed.Retail sales, a key indicator of consumption trends in the world’s most populous nation, grew by 5.0 per cent from a year earlier, marking the fourth successive month of expansion.This was up from 4.3 per cent growth in October and was as expected, with a poll of analysts conducted by Bloomberg having predicted growth of 5.0 per cent.The November…

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China’s economic activity extended its strong growth in November as manufacturing, services sentiment grows

November 30, 2020

[unable to retrieve full-text content]China’s economic activity extended its strong growth in November, according to data released on Monday.The official manufacturing purchasing managers’ index (PMI) – a survey of sentiment among factory owners in the world’s second largest economy – rose to 52.1 last month from 51.4 in October, according to the National Bureau of Statistics (NBS).November’s reading was higher than the median prediction of a poll of analysts conducted by Bloomberg, which expected a small rise to 51.5.China’s non…

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China consumer inflation hit 11-year low in October, helped by plummeting pork price

November 10, 2020

[unable to retrieve full-text content]China’s consumer prices in October slowed to their lowest level in 11 years, data released on Tuesday showed.China’s official consumer price index (CPI) rose just 0.5 per cent in October from a year earlier, down from 1.7 per cent in September, the National Bureau of Statistics (NBS) said on Tuesday. This was below the median expectations in a Bloomberg survey of analysts for a rise of 0.8 per cent as it hit its lowest level since October 2009, when it was also 0.5 per cent.This drop was helped…

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China’s economic recovery powers on as manufacturing, services sectors remain strong

October 31, 2020

[unable to retrieve full-text content]Chinese manufacturing and service sector sentiment remained strong in October, indicating that the country’s overall robust economic rebound from the damage caused by the coronavirus pandemic continued in the first month of the fourth quarter.However, a sharp divergence in the level of activity between large and small manufacturing firms, and a continued drop in employment in the sector, underscored the uneven nature of the recovery and raised some questions about the pace of growth in coming…

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China’s economic recovery underlined as manufacturing, services outlook remains positive

September 30, 2020

[unable to retrieve full-text content]Both China’s manufacturing and services industries continued to show recovery in September, data released on Wednesday showed.China’s official manufacturing purchasing managers’ index (PMI) stood at 51.5 in September, with a reading above 50.0 signifying growth in factory output. This was an above the reading of 51.0 for August, and also above the median expectations in a Bloomberg survey for a rise to 51.3.Caixin/Markit manufacturing PMI, which focus in more small, private firms unlike the…

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China’s economic recovery continues as pressure eases on consumers, manufacturers in August

September 9, 2020

[unable to retrieve full-text content]China’s consumer inflation rate eased in August, while downward price pressure on the manufacturing sector following the impact of the coronavirus also improved, data released on Wednesday showed.The consumer price index (CPI) for August was 2.4 per cent, improving from a 2.7 per cent gain in July, and in line with the 2.4 per cent gain expected by analysts.August’s producer price index (PPI), reflecting the prices that factories charge wholesalers for their products, fell 2.0 per cent year on…

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China’s economic recovery continues as services sector grows at fastest pace in over two and a half years in August

August 31, 2020

[unable to retrieve full-text content]China’s non-manufacturing sector expanded as its fastest pace since January 2018 last month, highlighting continued recovery in the economy from the coronavirus damage early in this year.The official non-manufacturing purchasing managers’ index (PMI), released by the National Bureau of Statistics on Monday, was 55.2 for August, up from 54.2 in July and above analysts’ expectations that it would remain unchanged at 54.2.This survey takes the mood among firms in the services and construction…

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Coronavirus: China’s trade recovery to be short-lived with overseas demand set to fall amid Covid-19

April 14, 2020

[unable to retrieve full-text content]China’s mild trade recovery in March should be taken with a pinch of salt, with overseas demand for its products set to fall further in the coming months under pressure from the coronavirus outbreak.Exports from the world’s second largest economy still fell by 6.6 per cent in US dollar terms in March compared to a year earlier, but having suffered a 17.2 per cent contraction in combined figures for January and February, this could on the surface be seen as a rare piece of positive economic news…

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Coronavirus: China’s factory activity plunges to all-time low, worse than global financial crisis, February data show

February 29, 2020

[unable to retrieve full-text content]Chinese manufacturing activity plunged to an all-time low in February, with the first official data published amid the coronavirus outbreak confirming fears over the impact on the Chinese economy.The official manufacturing purchasing managers’ index (PMI) slowed to 35.7, the National Bureau of Statistics (NBS) said on Saturday, having slipped to 50.0 in January when the full impact of the coronavirus was not yet evident.Analysts polled by Bloomberg had expected the February reading to come in…

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