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Economy and Data Brief

December 07, 2017


Abstract : Economy and Data Brief

China's manufacturing activity expands faster in November -- China's manufacturing sector expanded at a faster pace in November, adding to evidence of continued momentum in the economy, official data showed November 30. The country's manufacturing purchasing managers' index came in at 51.8, accelerating from 51.6 in October, according to the National Bureau of Statistics. A reading above 50 indicates expansion, while a reading below reflects contraction.

China’s steel consumption to rise 7.7 pct this year -- The nation's steel consumption is expected to rise 7.7 percent to 725 million metric tons this year amid an improving economy and better performance of major steel consumers, an industry research and planning institute said on December 4. The country's steel demand will grow by 0.7 percent to 730 million tons in 2018, said a report from the China Metallurgical Industry Planning and Research Institute. China's crude steel output will increase 3 percent year-on-year to 832 million tons in 2017, and by a further 0.7 percent to 838 million tons next year. Iron ore demand in the world's top buyer is expected to rise 1.3 percent to 1.122 billion tons in 2017 from last year and drop 0.2 percent to 1.12 billion tons in 2018. (Source: China Daily)

Total orders for China's C919 jumbo jet hit 785 -- Orders for China's large C919 passenger jet reached 785, after ICBC Leasing signed a new deal to buy 55 of the jets, the Commercial Aircraft Corporation of China (COMAC), the Shanghai-based C919 manufacturer, said December 5. This makes ICBC Leasing the largest purchaser of C919 planes, with a total order of 100 aircraft.

China forestry output to reach RMB7 trln in 2017 -- The output value of China's forestry sector will reach 7 trillion yuan (about 1.1 trillion U.S. dollars) in 2017 on the back of continued input, an official said December 5. China has seen the fastest growth of forestry resources worldwide, with an improving environment and higher forestry productivity, Zhang Jianlong, head of the State Forestry Administration, said at a conference in Beijing.

China's digital economy accounts for 30 pct of 2016 GDP -- China's digital economy reached 22.58 trillion yuan (about 3.4 trillion U.S. dollars) in 2016, ranking second globally and accounting for 30.3 percent of the national GDP, according to reports issued December 4 at the ongoing fourth World Internet Conference (WIC) in the east China town of Wuzhen. The two reports, which cover the development of the internet around the world and in China respectively, said 22 percent of the world's current GDP is closely related to digital economy that includes techniques and capital. As of June 2017, there were 3.89 billion internet users around the world, of which 751 million were in China, the most of any country worldwide, said the reports.

China's Q4 GDP likely to grow 6.6 pct: UBS -- Dragged down by a cooling property market and infrastructure investment, China's GDP growth is expected to dip to 6.6 percent in the fourth quarter of 2017, a UBS report said on December 1. GDP expanded 6.8 percent year on year in the third quarter, down from the second quarter's 6.9 percent increase but above the government's targeted growth of around 6.5 percent for the year.

China QFII quota rises to USD96.79 bln -- China's dollar-denominated Qualified Foreign Institutional Investors (QFII) program saw its total quota rise to 96.79 billion U.S. dollars as of Nov. 29, the forex regulator said on November 30. The amount was up from 94.49 billion dollars at the end of October, according to data from the State Administration of Foreign Exchange (SAFE).

Over 500 govt-related apps launched in 2017 -- The year of 2017 has witnessed launch of more than 500 government-related apps in China, covering 70 large and middle-sized cities nationwide, with central and western regions developing rapidly, according to a report released on December 5. The report issued by Sun Yat-Sen University in Guangzhou, showed that by Nov 2017, up to 514 apps for government affairs services were launched, up 62.7 percent compared to the same period in 2015, with application downloads up by 51.7 percent. The apps covered numerous fields such as transportation, social security, civil affair, as well as tourism. (Source: chinadaily.com.cn)

Financing Belt and Road, opportunities worth over USD10trln -- Chinese banks are looking to tap the opportunities arising from the huge investment and financing demands in the Belt and Road regions, where investors are attracted by the potential of infrastructure and less-developed industries. "Most countries along the Belt and Road are developing economies that have numerous opportunities in infrastructure, rail transit, urban development, logistics, cross-border e-commerce and other areas," said Hong Qi, chairperson of China Minsheng Bank, a leading joint-stock commercial bank. Infrastructure financing demand alone will amount to USD10 trillion in the next five years, Hong said at a recent forum.

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