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News from China
Chinese vice premier analyzes economic, financial hot issues
19th October 2018

 Chinese Vice Premier Liu He said Friday many factors have caused obvious stock fluctuations and declines in China recently, including interest rate hikes by major economies' central banks and the Sino-US economic and trade frictions.

 
The global stock market has started to see fluctuations and downward movements after the interest rate increases, and the US stock market has also seen obvious corrections, Liu, also a member of the Political Bureau of the Communist Party of China Central Committee, told Chinese reporters.
 
"The Sino-US economic and trade frictions have also caused impact on the stock market, but the psychological effect is bigger than the actual impact, frankly speaking," said Liu.
 
"China and the United States are now in contact with each other," he said.
Source: Shanghai Daily, October 19, 2018
China's producer prices rise 3.6% in September
17th October 2018

 China's producer price index, which measures costs of goods at the factory gate, rose 3.6 percent year-on-year in September, the National Bureau of Statistics said Tuesday.

 
The growth slowed from the 4.1-percent gain in August.
 
NBS statistician Sheng Guoqing said the carryover effect contributed 1.9 percentage points to the 3.6-percent year-on-year PPI growth, while new factors contributed 1.7 percentage points.
 
The prices of the means of production climbed 4.6 percent year-on-year in September, down from 5.2 percent in August, due to a relatively high base of comparison, according to Sheng.
 
Of all industrial sectors, producer prices in the sectors of nonmetal mineral products, ferrous metal processing, chemical raw materials and products, and coal exploration and dressing saw lower growth rates than in August.
 
These industries contributed 0.32 percentage points to the 0.5-percentage point drop in the year-on-year PPI growth in September from August, according to Sheng.
 
On a monthly basis, the PPI increased 0.6 percent in September, picking up from 0.4 percent in August.
 
For the first nine months of the year, the PPI climbed 4 percent on average from the same period last year.
 
Tuesday's data also showed the country's consumer price index, a main gauge of inflation, rose 2.5 percent year-on-year in September, compared with 2.3 percent in August.
Source: Shanghai Daily, October 17, 2018
China's producer prices rise 3.6% in September
16th October 2018

 China's producer price index, which measures costs of goods at the factory gate, rose 3.6 percent year-on-year in September, the National Bureau of Statistics said Tuesday.

 
The growth slowed from the 4.1-percent gain in August.
 
NBS statistician Sheng Guoqing said the carryover effect contributed 1.9 percentage points to the 3.6-percent year-on-year PPI growth, while new factors contributed 1.7 percentage points.
 
The prices of the means of production climbed 4.6 percent year-on-year in September, down from 5.2 percent in August, due to a relatively high base of comparison, according to Sheng.
 
Of all industrial sectors, producer prices in the sectors of nonmetal mineral products, ferrous metal processing, chemical raw materials and products, and coal exploration and dressing saw lower growth rates than in August.
 
These industries contributed 0.32 percentage points to the 0.5-percentage point drop in the year-on-year PPI growth in September from August, according to Sheng.
 
On a monthly basis, the PPI increased 0.6 percent in September, picking up from 0.4 percent in August.
 
For the first nine months of the year, the PPI climbed 4 percent on average from the same period last year.
 
Tuesday's data also showed the country's consumer price index, a main gauge of inflation, rose 2.5 percent year-on-year in September, compared with 2.3 percent in August.
Source: Shanghai Daily, October 16, 2018
China working hard to ensure 'six stabilities'
15th October 2018

 Amid complicated international landscape and new changes in China’s domestic economy, experts around the world believe that the Chinese government has sufficient policy tools to tap its inherent dynamism so as to secure robust and resilient economic growth.

 
These remarks came following the Chinese government’s recent proposal of a target to “stabilize the employment, finance, foreign trade, foreign investment, investment and expectations,” collectively known as the “six stabilities.”
 
Since the beginning of this year, despite fluctuations of certain economic indicators, the Chinese economy has registered stable growth, with the four major macroeconomic indicators of economic growth, employment, CPI and the international balance of payments basically meeting expectations.
 
In its latest World Economic Outlook report released on October 8, the International Monetary Fund kept China’s economic growth forecast unchanged at 6.6 percent.
 
IMF chief economist Maurice Obstfeld recently said that the Chinese economy saw robust performance in the first half of this year, and that the recent figures which might not be so ideal are still in line with expectations, considering that measures such as strengthening financial supervision and preventing risks would drag down economic growth to a certain degree.
 
Changyong Rhee, director of the IMF’s Asia and Pacific department, says the slowdown in growth is a result of the government’s initiative to deleverage and regulate the economy, which in fact produces a “high-quality” slowdown.
 
Rhee expressed confidence that the Chinese government has the policy tools to stabilize economic growth and offset negative impacts from the economic and trade frictions with the United States, but meanwhile, deleveraging should forge ahead to ensure more stable and resilient growth in the medium term.
 
Subhomoy Bhattacharjee, a consultant with the Research and Information System for Developing Countries based in India, said China’s economy, which has started to shift from high speed growth to medium-high speed growth, has stepped into the deep waters of economic restructuring, where certain suffering and pain are inevitable.
 
The government embraces change and has a mature and sensible understanding of economic development, as indicated by its economic policy adjustments in recent years, he said, adding these adjustments will benefit China’s economy in the long run.
 
Even though the favorable international environment plays a role in China’s economic success, Bhattacharjee said, its achievements should be mainly attributed to the inner dynamism generated by its domestic policies.
Source: Shanghai Daily, October 15, 2018

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