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Economic data for February were released, providing insight into the health of the economy. Inflation continues, with the CPI coming in at 4.9 percent, above the government-set cap of 4 percent for this year. Newly extended bank loans fall dramatically as the central bank twists harder on the credit screws. Growth of retail sales slows down in part because the auto market has become lackluster. China Mobile, the world’s top telecom operator by subscribers, reports modest growth. After three consecutive months of net selling, China remains the largest foreign holder of U.S. Treasury securities.     

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China adds to its holdings of U.S. Treasury securities for the first time in three months. China’s auto market stages a significant comeback in August as vehicle sales grew 6.29 percent from July figures. The Anshan Iron & Steel Group Corp. concluded an agreement to invest in the United States, ending doubts about the feasibility of the deal. State -owned enterprises raked in juicy profits from January to August this year. China inches up on the global competitiveness ranking list. Global payment giant MasterCard Worldwide predicts China will replace the United States as the world’s top credit card market by 2020.     

Living a Quality Life

The growth of high-quality consumption among Chinas expanding and increasingly more discerning middle-class has become a major drawcard for global brands to enter the Chinese market. China is the only major economy that achieved positive growth during the COVID-19 pandemic last year.At the first China International Consumer Products Expo (CICPE) held in Haikou,Hainan Province in May,top global luxury groups such as LVMH,Richemont,and Kering all had a prominent presence.The global growth of Hublot,a Swiss watch brand under the LVMH Group,is driven mainly by Chinese sales.In 2010,the Chinese mainland market accounted for less than one percent of its global sales,and in 2020 this proportion was closer to 15 percent.According to a research report released by Bain & Company,global luxury sales in 2020 shrank by 23 percent to (∈) 217 billion,compared with 2019.     

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The IMF points to a promising outlook for the Chinese economy,though uncertainties still loom large.The auto market cools down,with March sales growing aminuscule 5.36 percent year on year.Chinese property developers have received a blow to their war chests,as sales plunge and borrowing costs climb.Chinese funds have experienced a dramatic drop in profits last year due to bearish stock markets.The country’s economic take-off fuels a wealth boom with the number of millionaires increasing.     

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Auto Boom China's auto market continues to thrive,though the sales boom is losing some shine.     

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By allowing foreign investors greater access to Chinese equities,regulators try to firm up the fickle stock markets. China's export woes show signs of healing,though uncertainties still loom large. Regardless of controversies swirling around the deal,the Sichuan heavy machinery maker Tengzhong agrees to buy the General Motors Co.'s Hummer brand. China's auto market burns hot as September sales soared 77.88 percent year on year. Citibank China has recently opened its third lending company in China.     

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July Economic Figures CPI and PPI The consumer price index(CPI),a barometer of inflation,grew 33 percent year on year in July,0.4 percentage points faster than in June,said the National Bureau of Statistics(NBS).This exceeded the government-set3-percent target for the entire year.     

Still a Magnet

The COVID-19 pandemic still spreading globally has forced people to wear masks and reduce their outdoor activities, but women in pursuit of beauty have never really ceased to buy cosmetics. According to U.S.-based cosmetics giant Estée Lauder, its net sales for the first quarter (Q1) of the year reached $3.86 billion with a year-on-year increase of 16 percent, a number in which the Chinese market held some high stakes.     

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Figures for October CPI and PPI The consumer price index(CPI), a barometer of inflation, grew 4.4 percent in October, a 24-month high and 0.8 percentage points higher than in Septmber, according to the National Bureau of Statistics(NBS).     

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TO THE POINT:The release of economic figures for April stoked inflation fears again.The CPI rose 2.8 percent in April,challenging the government's goal of keeping inflation below 3 percent.Bank lending in April brought new loans in the first four months to half of the designated loan target cap for the whole year.     

A Strong Start

正China's economic performance in Q1 recovered pre-pandemic levels Recovering from the lows caused by COVID-19 last year, China's economy grew 18.3 percent year on year to 24.93 trillion yuan($3.82 trillion) in the first quarter(Q1) of 2021. According to data released by the National Bureau of Statistics(NBS) on April 16,     

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China steps up a clampdown on the financing vehicles of local governments control over local governments' financing vehicles will be tightened to fend off what some economists warn could turn into a mountain     

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The central bank on November 19 ordered commercial banks to set aside an additional 0.5 percent of their reserves amid looming inflationary risks.Investors are on the defense and preparing for the worst by buying up gold as a safe haven against inflation and market uncertainties.China’s stateowned enterprises earned a combined profit of 1.626 trillion yuan($245 billion) from January to October this year,soaring 44.8 percent year on year.In a push into renewable energies,China should enhance efforts in hydropower,wind power and inter-provincial trade,as well as green electricity schemes,said the World Bank.The aviation industry booms as air traffic increases.     

Shanghai Welfare Lottery

THE Shanghai Welfare Lottery was set up in July 1987. Annual ticket sales have shot up from a few million yuan in the first yearto billions. Its total and per capita sales were the highest of all China welfare lotteries for five consecutive years.     

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The National Bureau of Statistics has released economic data for the first half of 2011. Crisis-stricken foreign trade continues to recover.Investment in fixed assets and retail sales are holding up, becoming the main growth engines of the economy. Mean while, yuan-denominated new loans are decreasing as the country aims to calm inflationary jitters. The once-booming auto markets are slackening off with sales dramatically slowing in the first half of this year.     

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TO THE POINT: China’s foreign trade records monthly drop again, with February’s deficit reaching $7.3 billion. The feverish auto market is calming down, with February sales dropping 33.1 percent from a month ago. Chinese thermal power generators are facing serious head- winds as the coal price increases. Ernst & Young’s report shows China racing ahead of other countries in renewable energy investments. The U.S. coupon website Groupon.com extends its reach into China, but its prospects remain uncertain. Digital advertiser Focus Media is faring well thanks to a booming advertising market in China.     

Back to Expansion

China’s economy rebounds despite headwinds triggered by COVID-19 Recovering from the contraction caused by the novel coronavirus disease(COVID-19)epidemic,China’s economy saw a better-than-expected performance in 2020.The GDP expanded 2.3 percent year on year to101.59 trillion yuan($15.6 trillion),exceeding the100-trillion-yuan($15.42 trillion)mark for the first time.The per-capita GDP exceeded$10,000for two consecutive years,narrowing the gap with high-income countries,data from the National Bureau of Statistics(NBS)showed.     

Better Connectivity

正Sustainable transport promotes sustainable development The image of a red truck exiting a tunnel on its way to Dulongjiang Township in Yunnan Province has been printed on a stamp issued on October 15 during the Second United Nations Global Sustainable Transport Conference(UNGST Conference). The stamp shows how the development of transport can help alleviate poverty.     

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Stock Market Woes The benchmark Shanghai Composite Index has retreated more than 12 percent so far this year as lingering concerns over tightening monetary policies keep the mood subdued.     

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TO THE POINT: The Chinese economy maintained stable and relativelyfast growth in 2008 with eased inflation. Its GDP grew 9 percent last year,the first single-digit growth since 2002, and accounted for 20 percent of theglobal economy. Economists hope that the latest rescue measures adoptedby the Central Government could boost the country's economic performancein 2009. Inflation was brought under control as the consumer price index grewa satisfactory 1.2 percent in December year on year. The urban registered ...