China - Economic Data & News 05 (Oct 10 - Jun 11)

China - Economic Data & News 05 (Oct 10 - Jun 11)

Postby winston » Fri Oct 01, 2010 12:34 pm

China manufacturing gathers momentum in September

Growth in Chinese manufacturing picked up pace in September, a survey showed Friday, adding to evidence that China's economic recovery remains on track.

The state-affiliated China Federation of Logistics and Purchasing said its purchasing managers index, or PMI, rose to 53.8 in September from 51.7 in August. Numbers above 50 show manufacturing activity expanding.

The index, an indicator of future manufacturing trends, has remained above 50 for 19 straight months after slowing in late 2008 and early 2009. September's index was the highest since it hit 53.9 in May.

China's growth cooled in the second quarter to 10.3 percent from 11.9 percent in the first quarter and is expected to drift lower. Some forecasters have cut their growth outlook for this year, though they say China easily can meet the government's target of 8 percent.

On Wednesday a competing index, the HSBC China Manufacturing PMI — a seasonally adjusted index designed to measure the performance of the manufacturing economy — rose in September to 52.9 from 51.9 in August. Numbers above 50 show manufacturing activity expanding.

The China Federation's survey showed that nine of 11 areas rose in September compared with the previous month, including production and new orders. New export orders climbed marginally to 52.8 from 52.2, showing steady external demand.

The two areas that fell below the expansionary mark of 50 were stocks of purchases and stocks of finished goods.

The subindex for input prices rose, which could show inflationary pressures. The China Federation said price increases were strong for food products.

Source: AP News
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby winston » Mon Oct 18, 2010 7:27 pm

China aims for 'relatively fast' growth through 2015

The country hopes to achieve a "major breakthrough in economic restructuring" as policymakers maintain measures aimed at boosting domestic demand, the official Xinhua news agency said.

"China will further boost people's incomes, enhance social construction and deepen reform and opening up," Xinhua said, citing a statement issued at the end of the meeting.

Beijing has pledged to restructure the economy to make it less reliant on exports and investment and, instead, make domestic consumption a bigger driver of growth.

The next five years will be a "critical stage for China to build a moderately prosperous society", Xinhua said, underlining concerns among top leaders about the yawning wealth gap between the country's rich and poor.

Source: AFP Global Edition
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby LenaHuat » Tue Oct 19, 2010 9:36 am

Nanning is a very exciting place to be in. I like it better than Chengdu - cleaner and better planned. It's growing very fast cuz of the ASEAN-China FTA.
SINGAPORE: Minister of State for Trade and Industry and Manpower Lee Yi Shyan and Parliamentary Secretary for Trade and Industry and Information,Communications and the Arts Sam Tan Chin Siong will on Tuesday attend the 7th China-ASEAN Exposition (CAEXPO) in Nanning.

The CAEXPO, started in 2003 by Premier Wen Jiabao, aims to promote economic cooperation between ASEAN and China through activities such as investment promotion and trade exhibition.

This is the first CAEXPO event to be held after the official establishment of the ASEAN-China Free Trade Area in January this year.

"With the establishment of the ASEAN-China Free Trade Area earlier this year, Guangxi as a gateway to ASEAN will benefit from greater trade and investment flow between China and ASEAN," Mr Lee said.
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby winston » Tue Oct 19, 2010 8:11 pm

Less than expected so there would be a series of rates hike then ...

China raises key interest rate; 1st since recovery

China raised its benchmark lending rate Tuesday for the first time since emerging from the global crisis as the government tries to cool inflation and guide rapid growth to a more sustainable level.

An interest rate hike was widely expected at about this time following the government's declaration earlier this year that China, the world's second-largest economy, had recovered from the global slump.

The interest rate on a one-year loan was raised by 0.25 percentage points to 5.56 percent, the central bank said. The one-year rate paid on deposits was raised, also by 0.25 percentage points, to 2.5 percent.

Communist leaders are trying to guide China's economy back to a more sustainable growth rate after it expanded by 10.3 percent in the second quarter.

They also are trying to control politically dangerous consumer inflation that rose to 3.5 percent in August over a year earlier, above the official annual target of 3 percent. Analysts believe inflation rose further in September.

Source: AP News
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US - Market Direction 18 (Oct 10)

Postby lithium » Tue Oct 19, 2010 9:25 pm

Why Chinese raises interest rates? Because economy is doing very well? So it's short term negative? :)
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby kennynah » Wed Oct 20, 2010 1:21 am

must ask teacher W.... perhaps he might know the answer....

he was asking me why i say US dollar will rise with this Chinese key interest rate hike...i thot about it for 3 secs...scratch my head...and i still duno why i came to this conclusion.... i oso waiting for teacher W to educate me on this matter 8-)
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby profittaker » Wed Oct 20, 2010 1:50 pm

China raise interest rate is part of rebalancing measure, over investment and encourage spending.

Recently read 2 companies talked about supply constrain due to shortage of manpower in china. Is this a trend that is slowly developing?
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby kennynah » Wed Oct 20, 2010 2:06 pm

profittaker wrote:China raise interest rate is part of rebalancing measure, over investment and encourage spending.


perhaps you mean "discourage" consumer spending... 8-)
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby winston » Thu Oct 21, 2010 4:00 pm

DJ MARKET TALK: JPMorgan Identifies Eight "Sticky" China Trends

1533 [Dow Jones] To help investors buy China stocks, JPMorgan identifies 8 "sticky trends" facing China on eve of release of China's 12th Five-Year Plan:-

1) consumption boom on back of government's policies to raise people's income, and to increase spending on social safety network;
2) urbanization drive;
3) development of western and central China;
4) acceleration in service industry's growth;
5) aging population;
6) water and energy conservation, emission reduction;
7) upgrade of China's manufacturing industries, building of 7 strategic new industries;
8) CNY liberalization reform.

Source: Dow Jones Newswire
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Re: China - Economic Data & News 05 (Oct 10 - Mar 11)

Postby winston » Thu Oct 28, 2010 3:49 pm

*DJ SAFE: Discovered 197 Cases Of FX Irregularity From Feb-Oct

Source: Dow Jones Newswire
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