By Xinhuanet| 2021-11-18 23:01:36

Southwest China's Yunnan Province reported strong foreign trade growth in the first 10 months of this year.Yunnan's foreign trade totaled around 242.7 billion yuan (about 38 billion U.S. dollars) from January to October, up 25.5 percent from a year ago, said the provincial statistics bureau.The province's exports rose 27.8 percent year on year to approximately 127.4 billion yuan, while imports gained 23 percent to about 115.2 billion yuan. Meanwhile, its trade surplus reached about 12.2 billion yuan during the period, suggesting a burgeoning momentum. Enditem

By Xinhuanet| 2021-11-17 20:25:14

International energy company ExxonMobil Tuesday started a project in Huizhou City, south China's Guangdong Province, to produce performance polymers used in packaging, automotive and agricultural products.The launching ceremony was held simultaneously in the city, Beijing and Houston.With a total investment of about 10 billion U.S. dollars, the project will be constructed in two phases. The annual revenue is expected to reach 39 billion yuan (about 6.1 billion U.S. dollars) after the first phase is completed and put into production."Demand for performance polymers will continue to increase in China, and we are in a good position to meet the needs of that growing market," said Karen McKee, president of ExxonMobil Chemical Company. Enditem

By Xinhuanet| 2021-11-16 21:42:47

The foreign trade volume of east China's Anhui Province exceeded 561.6 billion yuan (about 88 billion U.S. dollars) in the first 10 months of 2021, up 26.6 percent year on year, according to local customs.Exports exceeded 328.5 billion yuan and imports touched 233.1 billion yuan, a growth of 27 percent and 26.1 percent respectively compared with the same period last year.Anhui's foreign trade volume in the first 10 months has surpassed that of entire 2020, which stood at 540.6 billion yuan.From January to October, the United States, the European Union, and the Association of Southeast Asian Nations were the largest trading partners of Anhui, with trade volume reaching about 74.3 billion yuan, 72.2 billion yuan, and 62.1 billion yuan respectively.The inland province saw its trade with countries along the Belt and Road rise 35 percent year on year.Private enterprises accounted for 50.2 percent of the province's foreign trade during the period. Mechanical and electrical products, LCD screens, and automobiles remained the main exports of the province. Enditem

By Xinhuanet| 2021-11-15 22:03:16

China's industrial production continued to expand in October, with the high-tech manufacturing sector posting strong performance, official data showed Monday.China's value-added industrial output, an important economic indicator, went up 3.5 percent year on year in October, putting the average October growth for the past two years at 5.2 percent, data from the National Bureau of Statistics (NBS) showed.Despite unfavorable factors such as the COVID-19 pandemic and floods, China's industrial and service sectors managed to "show an improving trend," said NBS spokesperson Fu Linghui.The output of the high-tech manufacturing sector jumped 14.7 percent year on year last month, faster than the growth pace of the overall industrial output.Specifically, the output of new energy vehicles logged a sharp increase of 127.9 percent in October, while that of integrated circuits and industrial robots jumped 22.2 percent and 10.6 percent, respectively.In a breakdown by ownership, the output of state-owned enterprises rose 5.2 percent, and the private sector's output increased 2.4 percent.Although Fu cautioned that the "international environment remains complex" with some uncertainties, he pointed out that China's industrial sectors will have broad development prospects as the country's economy will enjoy positive growth in the medium to long term.The industrial output is used to measure the activity of designated large enterprises with an annual business turnover of at least 20 million yuan (about 3.11 million U.S. dollars).The value-added industrial output of the country's designated large enterprises rose by 10.9 percent year on year in the first ten months this year, putting the average January-October growth for the past two years at 6.3 percent.Profits of China's major industrial firms surged 44.7 percent year on year in the January-September period to top 6.34 trillion yuan, earlier data showed. Enditem

By Xinhuanet| 2021-11-12 20:47:21

With participants harvesting lucrative deals and expecting more in future, the just-concluded fourth China International Import Expo (CIIE) demonstrates China's commitment to further opening up and pursuing common development, which will inject momentum to global economic recovery.As the world's first import-themed national-level expo, CIIE has been held successfully on four occasions since its inception in 2018. It has grown into a major platform for international procurement, investment promotion, cultural exchange and open cooperation, becoming an international public good for the world to share.A total of 70.72 billion U.S. dollars worth of tentative deals were reached for one-year purchases of goods and services at the fourth CIIE.This achievement is quite remarkable and even more positive given the current context of the COVID-19 pandemic, which has hindered trade activities across the world.More than 2,900 enterprises from 127 countries and regions participated in this year's expo, with goods and services exhibition areas covering 366,000 square meters.More than 80 percent of Fortune Global 500 and industry-leading companies from last year's CIIE returned for this latest edition.CIIE, a great platformThe outpouring enthusiasm of the exhibitors demonstrates the strong spillover effect of the CIIE, which offers a great platform for businesses around the world to tap into the growing Chinese market.Both big name multinationals and small start-ups can reap the benefits of participating in the event. The exhibitors also brought products specially tailored to the needs of Chinese customers.Agricultural goods produced by the developing and least developed countries can all gain popularity in Chinese market via the expo.Ramazan Tuzen, a Turkish businessman who took part in the previous editions of the CIIE, said the expo enables him to increase the annual sales of his Turkish specialty products and expand his business, adding that China is a very open and safe country with many business opportunities.Kosala Wickramanayake, president of the International Business Council in Sri Lanka, echoed the Turkish businessman, saying the CIIE has offered Sri Lankan tea exporters a huge potential market.Making CIIE debut were not only new products, services, and cutting-edge technologies but also innovative ideas, which meet Chinese people's enormous demands for high-quality merchandise and boost win-win cooperation in the world economy and trade.As British Trade Commissioner for China John Edwards said, the CIIE has been "a huge platform" for British businesses, and the Chinese market is "extremely important."CIIE, a positive contributor to world tradeFrom 2018 to 2020, the combined intended transaction volume of the previous three editions of the CIIE totaled 201.6 billion U.S. dollars, making a positive contribution to international trade.The appeal of the CIIE also comes from the strong resilience and great potential of the Chinese economy, and the country's continuous efforts to open its doors wider to the world.Chinese people have exerted extraordinary efforts and made major strategic gains in controlling and preventing COVID-19. The Chinese economy has steadily picked up, becoming the only major economy in the world to achieve positive growth last year. China has made important contributions to keeping global industrial and supply chains stable and boosting world economic recovery.China's gross domestic product (GDP) in the first three quarters of this year expanded 9.8 percent year on year. It is well above its annual growth target of over 6 percent, with trade being a key driver underpinning China's economic resilience.COVID-19 has had a complex and far-reaching impact on the world economy. Furthermore, rising anti-globalization, protectionism and unilateralism made the prospect of global recovery more uncertain.All countries are in a community with a shared future and openness and cooperation are the right way to tide over crises.China has always endeavored to advance high-level opening-up, to share development opportunities with world.Hosting a series of open platforms, including the China International Fair for Trade in Services, the China International Consumer Products Expo, and the CIIE, has facilitated the unimpeded flow of trade and provided a much-need boost to the flagging global economy.With a population of 1.4 billion and a middle-income group that exceeds 400 million, China will share immense market opportunities with the rest of the world.From January to September this year, China's imports reached nearly 2 trillion dollars, up 32.6 percent year on year and hitting a record high. According to the latest data from the World Trade Organization (WTO), China's imports in the first half of this year contributed to 15 percent of the global import growth.China's door wider openAt the opening ceremony of the 4th CIIE, Chinese President Xi Jinping said China will not change its resolve to open wider at a high standard, will not change its determination to share development opportunities with the rest of the world, and will not change its commitment to an economic globalization that is more open, inclusive, balanced and beneficial for all.China has been walking the talk in fulfilling its opening-up commitments.The measures China announced at the CIIE 2020 for further opening-up have mostly been implemented.At this year's expo, China made new pledge to reiterate its unswerving commitment to more openness.To firmly promote high-standard of opening up, Chinese President Xi said China will further shorten the negative list for foreign investment, and expand the opening of telecommunication, healthcare and other services in an orderly fashion.This year marks the 20th anniversary of China's accession to the the World Trade Organization (WTO).Over the last two decades, China has fully delivered on its accession commitments, lowering its overall tariff rate from 15.3 percent to 7.4 percent, below the the 9.8 percent it promised at WTO entry.China's economic size has grown from the 6th to the second-largest globally. Trade in goods grew from the 6th to the 1st place, and trade in services from the 11th to the 2nd.According to The World Openness Report 2021 released at the fourth CIIE, China has always adhered to win-win cooperation, promoted common development, and shared its development opportunities and dividends with other countries through opening-up.Opening up is the hallmark of contemporary China.Looking ahead, China will steadfastly expand all-round opening up and explore more efficient ways to connect domestic and foreign markets, which will not only meet China's own development goals, but also benefit people of other countries.

By Xinhuanet| 2021-11-11 20:17:14

China's factory prices continued to pick up in October due to the combined impact of international factors and the tight domestic supply of key energy and raw materials, official data showed Wednesday.The producer price index (PPI), which measures costs for goods at the factory gate, went up 13.5 percent year on year in October, data from the National Bureau of Statistics (NBS) showed.The figure went up from the 10.7 percent year-on-year increase registered in September.On a monthly basis, China's PPI rose 2.5 percent in October.Specifically, the rising prices of international crude oil have driven the prices of domestic oil-related industries, with the PPI for the oil exploitation sector up 7.1 percent from a month ago, said senior NBS statistician Dong Lijuan.Due to the tight supply of coal last month, the factory-gate prices for coal mining and washing industry increased 20.1 percent month on month, while that for coal processing industry saw 12.8-percent growth.On a yearly basis, the prices of production materials went up 17.9 percent, 3.7 percentage points higher than the increase recorded in September.Among the 40 surveyed industrial sectors, 36 reported year-on-year price rises, Dong said.Wednesday's data also showed that China's consumer price index (CPI), a main gauge of inflation, rose 1.5 percent year on year in October. Enditem

By Xinhuanet| 2021-11-10 21:47:41

China's auto sales dropped 9.4 percent year on year to 2.33 million units in October, data from the China Association of Automobile Manufacturers (CAAM) showed Wednesday.The decline, however, narrowed 10.2 percentage points from September, and the monthly sales rose 12.8 percent from September, according to the CAAM.Bucking the trend, sales of new energy vehicles (NEVs) climbed remarkably in October.NEV sales rocketed 134.9 percent year on year in October to about 383,000 units, or up 7.2 percent from September.The market penetration rate of NEVs in China reached 12.1 percent in the first 10 months.China aims to raise the proportion of new NEVs in its sales of new vehicles to 20 percent by 2025, according to a development plan for China's NEV industry released in 2020. Enditem

By Xinhuanet| 2021-11-03 21:35:47

As China hosts the fourth international import expo (CIIE) in Shanghai from Nov. 5 to 10, global exhibitors have shown more interest and confidence in seizing new opportunities in the Chinese market.For Kenji Mizuta, president of the Japan External Trade Organization (JETRO)'s Shanghai Representative Office, the fourth CIIE will be one of the two largest events his organization will have attended this year."JETRO has been coming to CIIE for four consecutive years and we could bring nearly 300 Japanese enterprises to participate in this year's exhibition," Kenji Mizuta said."With a total exhibition area of 2,900 square meters, which is 400 square meters more than last year, we hope our products and services would bring a brand-new experience for upcoming visitors," he said.He added the epidemic that has affected Japanese enterprises' investment in China makes it all the more important to strengthen economic and trade exchanges between the countries."As the world's first import-themed national-level expo, also a huge move by China to open its market, the CIIE, with its more evident spillover effect, serves as a platform for Japanese enterprises to continuously find new development opportunities amid the epidemic," he said.Pakistani businessman Habib Ur Rehman has been busy setting up a booth at the expo these days."For four years, I have been longing to participate in the CIIE," said the businessman, who is gearing up to promote salt lamps from Pakistan at his 18-square-meter booth in the expo.Salt lamps, made from minerals in mountainous areas, are well known in Pakistan yet new to the Chinese market. "Many merchants in China are very interested in our products, making me more confident about this debut," he said."The expo is a good platform to bring more business opportunities and let more people know about Pakistani products," he added.Through the CIIE, Turkish businessman Ramazan Tuzen's porcelain, silk scarves and candles have become popular in the Chinese market.His business went on the fast track and jumped on the bandwagon of the first CIIE in 2018 when there were only about 500 products in his shop in Shanghai. The number has now crossed 1,000, with the annual sales revenue increasing to over 10 million yuan (about 1.56 million U.S. dollars)."We are trying to bring more different products to China," he said adding that he plans to run shops in some cities of the southern China's island province of Hainan next."China in my eyes is a very open and safe country with huge business value," he said. "I'm happy to be here for 12 years." Enditem

By Xinhuanet| 2021-11-02 22:22:14

China has a robust, large and fast-growing private sector, and the perception that China's private sector is "imperiled" by its regulatory campaign is overblown, according to the Peterson Institute for International Economics (PIIE)."In fact, the Chinese internet companies subjected to this campaign are a small component of a large private sector that is still investing, growing, and outperforming the state sector," said an article published recently by PIIE, a Washington D.C.-based think tank.The private companies hit by China's regulatory tightening over the past year are simply a small portion of the country's entire private sector, said the article entitled "Is the sky really falling for private firms in China?"There were nearly 20 million private-controlled firms in China as of end 2019, up nearly four times over the past decade, and only 266,000 state-controlled firms, growing only marginally in number, plus almost 83 million individual businesses owned solely by one natural person, the article said, citing China's statistics.China's reining in some of the country's biggest internet companies affects only a small share of its digital economy and total GDP, said another article published by PIIE recently."China's large private sector is more than just internet companies ... In 2020, only 11 internet companies were among the 500 largest private firms by revenue," it said. Enditem

By Xinhuanet| 2021-11-01 23:24:27

The purchasing managers' index (PMI) for China's manufacturing sector came in at 49.2 in October, down from 49.6 in September, data from the National Bureau of Statistics (NBS) showed Sunday.A reading above 50 indicates expansion, while a reading below reflects contraction.The slowdown came as power supply continued to be tight and prices of some raw materials rose sharply, said NBS senior statistician Zhao Qinghe.In October, the sub-index measuring purchase prices of major raw materials rose 8.6 percentage points from September to 72.1, while the ex-factory price index climbed to 61.1, up 4.7 percentage points from last month.The sub-index for production retreated 1.1 percentage points to 48.4, while that for new orders dropped 0.5 percentage points to 48.8.The figures showed that production and market demand in the manufacturing sector both weakened last month, said Zhao.Sunday's data also showed that the PMI for China's non-manufacturing sector came in at 52.4 in October, down from 53.2 in September. Enditem