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News from China
China's industrial output expands 5.3% in Jan-Feb
14th March 2019

 China's industrial output expanded 5.3 percent year on year in the first two months, narrowing from 5.7 percent growth in December 2018, the National Bureau of Statistics said Thursday.

 
Deducting the Spring Festival factor, China's industrial output expanded 6.1 percent year on year in the first two months, according to the NBS.
 
The industrial production was generally stable in the first two months with fast growth in emerging industries and new products, the NBS said in a statement.
 
Production in strategic emerging industries expanded by 10.1 percent, 4.8 percentage points higher than the general industrial output growth.
 
The output of new energy vehicles saw a surge of 53.3 percent year on year during the period, while solar cell production rose by 13.5 percent, NBS data showed.
 
Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with an annual turnover of at least 20 million yuan (US$3 million).
 
Source: Shanghai Daily, March 14, 2019
China's industrial output expands 5.3% in Jan-Feb
14th March 2019

 China's industrial output expanded 5.3 percent year on year in the first two months, narrowing from 5.7 percent growth in December 2018, the National Bureau of Statistics said Thursday.

 
Deducting the Spring Festival factor, China's industrial output expanded 6.1 percent year on year in the first two months, according to the NBS.
 
The industrial production was generally stable in the first two months with fast growth in emerging industries and new products, the NBS said in a statement.
 
Production in strategic emerging industries expanded by 10.1 percent, 4.8 percentage points higher than the general industrial output growth.
 
The output of new energy vehicles saw a surge of 53.3 percent year on year during the period, while solar cell production rose by 13.5 percent, NBS data showed.
 
Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with an annual turnover of at least 20 million yuan (US$3 million).
 
Source: Shanghai Daily, March 14, 2019
Finding 'new hope' for China's private sector
13th March 2019

 When Liu Yonghao, chairman of China's agricultural conglomerate New Hope Group, stepped into the Great Hall of the People with a speech titled "There is hope for China's private companies" in 1993, he was both nervous and excited.

 
He was excited because it was rare for an entrepreneur from the private sector to become a national political advisor, let alone give a speech at the country's most important political event. He was also nervous because the topic was considered somewhat "sensitive" back when state-owned enterprises still dominated the economy.
 
To his surprise, the speech featuring the keywords "private" and "hope" received multiple rounds of applause in the Great Hall of the People.
 
Twenty-six years later, the Sichuan-born entrepreneur has become one of the most recognizable faces during China's annual "two sessions", having served as a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) for five terms and as a deputy of the National People's Congress for one term.
 
Source: Shanghai Daily, March 13, 2019
China, US reach consensus on many key, important exchange rate issues: PBOC
12th March 2019

 China and the United States discussed exchange rates and reached consensus on many key, important issues in the latest round of economic and trade talks, the country's central bank governor said Sunday.

 
The two parties discussed about how to respect the autonomy of each other's monetary authorities in determining the monetary policy, Yi Gang, governor of the People's Bank of China, told a press conference on the sidelines of the annual legislative session.
 
The discussion also involved mutual adherence to the market-decided exchange rate mechanism, honoring the commitments made at previous G20 summits such as choosing not to adopt competitive depreciation, not to use exchange rates for competition purpose, and maintaining close communication on foreign exchange markets, Yi said.
 
They also discussed the issue that both sides should commit to disclose data in accordance with the statistics transparency standard of the International Monetary Fund, according to Yi.
 
Source: Shanghai Daily, March 12, 2019

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