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News from China
Services expand slower in January
7th February 2017

 CHINA’S services sector expanded at a slower pace in January, raising concerns that economic growth may slow from the fourth quarter of last year, a private survey showed yesterday.

 
The Caixin China General Services PMI, a gauge of operating conditions in mostly private service companies, dipped to 53.1 points in January from a 17-month high of 53.4 in December, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media.
 
A sub-index showed growth in new work at services companies rose more slowly but remained the second-fastest since June 2014, according to the survey.
 
Meanwhile, services companies were quick to raise their prices.
 
“New business continued to grow rapidly, though at a marginally slower rate than in the previous month, while input prices and output charges increased at faster rates,” said Zhong Zhengsheng, director of macro-economic analysis at CEBM Group. “The economy continued to recover, but the expansion rate has slowed.”
 
The slower service expansion echoed with cooler manufacturing growth as the Caixin General Manufacturing PMI, released last Friday, dipped by 0.9 points month on month to 51 in January.
 
China’s official manufacturing PMI, released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing, dipped 0.1 points from December to 51.3 points last month.
 
The official non-manufacturing PMI, however, added 0.1 points to 54.6.
 
Zhong said manufacturing and services continued to expand in January, but China’s economy is unlikely to keep the pace of expansion seen in the fourth quarter of last year.
 
He also warned inflationary pressure would continue to rise as charges across services providers and goods producers increase further.
 
China’s GDP grew 6.7 percent last year, with the fourth quarter expanding 6.8 percent and exceeding market expectations.
Source: Shanghai Daily, February 7, 2017
Mainland’s trade with Taiwan drops
6th February 2017

 TRADE volume between the Chinese mainland and Taiwan totaled US$179.6 billion in 2016, down 4.5 percent from 2015, according to the Ministry of Commerce.

 
Mainland exports to Taiwan were US$40.4 billion last year, a 10.1 percent year-on-year drop, and imports from Taiwan stood at US$139.2 billion, down 2.8 percent.
 
Taiwan is the mainland’s seventh largest trade partner and sixth biggest source of imports.
 
In 2016, the mainland approved 3,517 Taiwan-invested projects, with the actual use of Taiwan capital worth US$1.96 billion, up 27.7 percent from the previous year.
 
By the end of December, the mainland had approved 98,815 Taiwan-invested projects, with the actual use of Taiwan capital at US$64.7 billion.
 
Last year, the mainland’s trade with Hong Kong fell 11.1 percent year on year to US$305.3 billion.
 
Mainland exports to Hong Kong stood at US$288.4 billion in 2016, down 12.7 percent from the previous year, while the mainland’s imports from the city rose 32.4 percent to US$16.9 billion.
 
Hong Kong is the mainland’s fourth-largest trading partner and third-largest export market, according to the ministry.
 
The mainland approved 12,753 Hong Kong-invested projects in 2016, with the actual use of Hong Kong capital at US$81.5 billion, down 5.7 percent from 2015.
 
By the end of December, the mainland had approved 398,966 Hong Kong-invested projects, with the actual use of Hong Kong capital totalling US$914.8 billion.
Source: Shanghai Daily, February 6, 2017
Caixin manufacturing PMI drops to 51
3rd February 2017

 CHINA'S manufacturing sector continued to slow in January 2017 because of a further improvement in the health of the sector.

 
The Caixin General Manufacturing Purchasing Managers' Index (PMI) edged down to 51.0 last month from December's 47-month record of 51.9, and was consistent with only a marginal rate of improvement.
 
A reading above 50 indicates expansion, while a reading below 50 represents contraction.
 
The rate of improvement slowed since December 2016 as output and new orders increased at weaker rates amid a further reduction in employment. In contrast, new export work rose at the fastest pace since September 2014, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.
 
At the same time, inflationary pressures remained sharp, with both input costs and output charges increasing at rates scarcely seen throughout the past five years. Nonetheless, companies remained optimistic towards future growth prospects, and expressed the highest degree of optimism towards the 12-month business outlook since July 2016.
Source: Shanghai Daily, February 3, 2017
Chinese automaker JAC to produce cars in Mexico
2nd February 2017

 MEXICAN authorities announced Wednesday that Chinese automaker JAC would soon begin producing cars in the central Mexican state of Hidalgo.

 
Hidalgo Governor Omar Fayad announced the 4.4-billion-peso (212-million-U.S.-dollar) deal between Mexico's Giant Motors Latinoamerica and Chinese state-owned automaker JAC Motors at a press conference in the capital.
 
Under the deal, Mexico will begin assembling Chinese cars in March at a plant in Ciudad Sahagun, about 60 km northeast of Mexico City and the first cars are expected to roll off assembly lines in the second half of this year.
 
Mexico's Minister of Economy Ildefonso Guajardo said that the deal came at a time when the country is trying to diversify its sources of foreign investment amid uncertainty over its future ties with the United States.
Source: Shanghai Daily, February 2, 2017

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