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News from China
China's private investment remains weak
13th September 2016

China's fixed-asset investment by the private sector remained weak despite government attempts to stimulate growth, official data showed on Tuesday.

 
Fixed-asset investment by the private sector in China increased 2.1 percent in the first eight months, unchanged from the growth seen in the January-July period, according to the National Bureau of Statistics (NBS).
 
In contrast, state-sector investment surged 21.4 percent during the period.
 
The torpid growth of private investment this year has concerned policymakers as the private sector regularly contributes more than 60 percent of China's GDP growth and provides over 80 percent of jobs.
 
Some analysts attributed the decline to the slowdown in the export manufacturing and real estate industries, the two sectors most favored by private investors, combined with the deterioration in business confidence over the past few years.
 
In infrastructure and some service industries, such as railways and health care, state-linked companies still dominate meaning less opportunities for private investors.
 
To encourage private investment, the State Council has taken gradual steps to level the playing field. Infrastructure projects that were previously off-limits have been gradually opened up and in November 2014, six new areas -- environmental protection, agriculture, water, urban utilities, transportation and energy -- were liberalized.
 
At the local level, however, where the actual work takes place, lax implementation and red tape remain major hurdles.
 
To arrest the investment slowdown, the State Council earlier this year sent inspectors to local regions to investigate how central policies on private investment are put into practice.
Source: Xinhua
China-ASEAN Expo boosts closer bilateral ties for common prosperity
12th September 2016

 Vice Premier Zhang Gaoli said Sunday that China will push ahead to develop its friendly cooperation with the Association of Southeast Asian Nations (ASEAN) and together build a closer China-ASEAN community of common destiny.

 
China firmly supports the ASEAN Community, backs ASEAN's central role in regional cooperation and its expanding place in international and regional affairs, said Zhang while addressing the opening ceremony of the 13th China-ASEAN Expo in south China's Guangxi Zhuang Autonomous Region.
 
Together with ASEAN, China is willing to look at bilateral relations from a strategic and long-term perspective, expand consensus and cooperation, promote the 21st Century Maritime Silk Road and forge a closer China-ASEAN community of common destiny, he said.
 
Zhang proposed further integration of development strategies, and faithful implementation of the 2+7 Cooperation Framework and the third five-year action plan for China-ASEAN strategic partnership, which would promote inclusive development.
 
He called for boosting industrial cooperation and facilitation of trade and investment.
 
Zhang urged better interconnectivity, which would benefit people on both sides, as well as improved finance cooperation and people-to-people exchanges.
 
The four-day expo, held in Nanning, the capital of Guangxi, highlights industrial cooperation, trade and investment among China, ASEAN members and other countries along the Belt and Road. It was given the theme of "Jointly building the 21st Century Maritime Silk Road, Forging an Even Closer China-ASEAN Community of Common Destiny."
 
The event attracted more than 2,500 companies from 29 countries, including the 10 ASEAN members, India, Pakistan, Sri Lanka and Kazakhstan. It features 5,800 exhibition booths this year, an increase of 1,200 from the previous event.
Source: Xinhua
China consumer prices up 1.3 pct in August
9th September 2016

China's consumer price index (CPI), a main gauge of inflation, grew 1.3 percent year on year in August, down from July's 1.8 percent, the National Bureau of Statistics (NBS) announced Friday.

 
The August data dropped for the fourth-consecutive month from 2.3 percent in April, when the CPI reached its highest level since July 2014.
 
On a month-on-month basis, the CPI rose 0.1 percent in August.
 
NBS statistician Yu Qiumei attributed the moderated inflation largely to eased food prices.
 
The price of pork rose 6.4 percent year on year in August, slowing from 16.1-percent rise registered in July.
 
Since January 2016, CPI has been calculated using a new comparison base and included more products and services, while slightly reducing the weighting of food.
Source: Xinhua
First cargo train from China arrives in N. Afghan port
8th September 2016
The first-ever cargo train from China, after some two weeks of journey, has arrived in Hairatan port, some 300 km north of Kabul, in the northern Balkh province. "The inauguration of cargo service train linking China to Afghanistan marks the revival of ancient Silk Road," Azarakhsh Hafizi, chairman of international relations of Afghan Chamber of Commerce and Industries, said at a ceremony on Wednesday to welcome the first Sino-Afghan freight train which had arrived a day earlier. Bearing a banner reading "Nantong - Afghan Hairatan" in the driver's wagon as the sign of China's commitment to help revive economy of the militancy- plagued nation, the cargo train was warmly welcomed by emotional Afghans. The railway route connecting China to Afghanistan will help traders to transport their goods in 15 days, while in the past it took two or three months for Afghan traders to ship their goods via sea transportation, Hafizi said, adding "It opens up new opportunities for Afghanistan's commerce and economic activities." At present, goods such as mechanical equipment, information technology products and clothes are transported by China-Afghanistan freight trains to the land-locked country, while returning to China with Afghan products such as marble stone, saffron, dry fruits and carpets. After the opening of the route, two trains are scheduled to run each month, as part of China's Belt and Road initiative to improve Asian connectivity. The cargo train service is expected to run weekly by the end of this year, according to officials. Hairatan port, a small but peaceful township bordering Uzbekistan and located in northern Balkh province, is a key commercial center connecting the national capital Kabul with nine northern provinces.
Source: Xinhua

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