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News from China
China's FDI inflow up 6% in January-November period
13th December 2019

 Foreign direct investment into the Chinese mainland expanded six percent year on year to 845.9 billion yuan in the first 11 months of the year, data from the Ministry of Commerce showed Friday.

 
In US dollar terms, the FDI inflow stood at US$124.4 billion during the period, rising 2.6 percent year on year.
 
In November alone, FDI inflows came in at 93.5 billion yuan, up 1.5 percent year on year.
 
During the January-November period, a total of 36,747 new foreign-funded enterprises were established.
 
Foreign investment in high-tech industries surged 27.6 percent year on year to 240.7 billion yuan, accounting for 28.5 percent of the total FDI, MOC data showed.
 
Inflows to high-tech manufacturing and high-tech services came in at 83.4 billion yuan and 157.3 billion yuan, up 5.7 percent and 43.4 percent, respectively.
 
China's pilot free trade zones saw FDI inflow reach 121.3 billion yuan, accounting for 14.3 percent of the total FDI.
Source: Shanghai Daily, December 13, 2019
US CEOs lower economic forecast for 7th straight quarter amid trade uncertainty
12th December 2019

 The chief executives of America's biggest companies have downgraded their forecasts for the US economy for a seventh straight quarter, partly due to uncertainty over US trade policy, according to a new survey released on Wednesday.

 
The Business Roundtable's CEO Economic Outlook Index, a composite index of CEO plans for the next six months of sales, capital spending and employment, decreased 2.5 points to 76.7 in the fourth quarter of the year, which remains below the index's historical average of 82.7.
 
The 2.5-point decline, while modest, marks the seventh consecutive quarterly decline and indicates that CEOs plan to hire fewer people and invest less over the next six months, according to the Business Roundtable.
 
CEOs remain cautious in the face of uncertainty over trade policy and an associated slowdown in global growth, as well as the US manufacturing sector, which is currently contracting, the survey showed.
 
"While we have achieved a competitive tax environment, uncertainty surrounding trade policy and slowing global growth are creating headwinds for business," Joshua Bolten, president and CEO of Business Roundtable, said in a statement.
 
"Nearly 39 million American jobs — one in every five — depend on international trade. Because growth in trade-dependent jobs far outpaces job growth as a whole, we urge lawmakers to engage in more trade agreement negotiations and enact trade policies that preserve and strengthen an important pillar of the American economy," added Lance Fritz, chairman, president and CEO of Union Pacific.
 
The CEO Economic Outlook Survey, conducted quarterly since the fourth quarter of 2002, provides a forward-looking view of the US economy by Business Roundtable member CEOs. The latest quarterly survey was conducted between November 14 and December 3 with 140 CEOs.
 
The Business Roundtable represents American large companies with more than 15 million employees and more than US$7 trillion in annual revenues.
Source: Shanghai Daily, December 12, 2019
Postal Bank opens high on debut
11th December 2019

 Postal Savings Bank of China, one of China’s largest state-owned banks, got listed on the Shanghai Stock Exchange on Tuesday.

 
The bank’s shares opened 1.82 percent higher at its debut on the Chinese A-share market, one of the largest IPOs in recent years.
 
Established in 2007, the bank got listed in Hong Kong in 2016 and is now one of the six leading state-owned banks in China, which are all listed both on the A-share and H-share markets.
 
The bank is known for its expansive network across the country and reported double-digit net profit growth in the first half of this year.
 
The PSBC’s Shanghai listing also introduced the greenshoe over-allotment option, which is designed to help firms stabilize price fluctuations of newly issued shares. 
Source: Shanghai Daily, December 11, 2019
China's producer prices down 1.4% in November
10th December 2019

 China's producer price index, which measures costs for goods at the factory gate, dropped 1.4 percent year on year in November, the National Bureau of Statistics said on Tuesday.

 
The reading shrank from the 1.6-percent decline in October, the NBS data showed.
 
On a monthly basis, the PPI decreased 0.1 percent last month, bucking the trend of the 0.1 percent increase in October, according to the NBS.
 
In the first eleven months, the PPI on average declined 0.3 percent from that in the same period last year.
 
Factory prices of capital goods decreased 2.5 percent year on year in November, shrinking from the 2.6 percent decline in October.
 
Source: Shanghai Daily, December 10, 2019

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