china economic data today
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china economic data today
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china economic data today
Value-added output of industrial enterprises over a designated size (those with an annual main business income of RMB 20 million (US$2.9 million) and above grew by 3.9 percent year-on-year, 0.5 percentage points faster compared to the first half of the year. Representative image. According to official data released on October 24, 2022, by the National Bureau of Statistics (NBS), the worlds second-largest economys gross domestic product (GDP) increased by 3.9 percent in the July-September quarter compared to the same period last year, exceeding the 3.4 percent pace predicted by some previous analyses and picking up speed from the 0.4 percent growth recorded in the second quarter. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. The growth of imports remained slow, reflecting weak domestic demand, increasing 7.4 percent year-on-year to reach RMB 1.62 trillion (US$238.01 billion), just a slight increase from August. The fall in imports, while the first year-on-year retreat since August 2020, was a long time coming. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Nearly all major Asian equity indexes were lower overnight despite better-than-expected economic data coming out of China for the month of August. (unification under the Qin Dynasty); 1 January 1912 (Qing Dynasty replaced by the Republic of China), National Day (anniversary of the founding of the People's Republic of China), 1 October (1949), civil law influenced by Soviet and continental European civil law systems; legislature retains power to interpret statutes; note - in early 2017, the National People's Congress took the first step in adopting a new civil code by passing the General Provisions of the Civil Law, has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt, Chinese Communist Party or CCP [XI Jinping], no substantial political opposition groups exist, ADB, AfDB (nonregional member), APEC, Arctic Council (observer), ARF, ASEAN (dialogue partner), BIS, BRICS, CDB, CICA, EAS, FAO, FATF, G-20, G-24 (observer), G-5, G-77, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM (observer), IPU, ISO, ITSO, ITU, LAIA (observer), MIGA, MINURSO, MINUSMA, MONUSCO, NAM (observer), NSG, OAS (observer), OPCW, Pacific Alliance (observer), PCA, PIF (partner), SAARC (observer), SCO, SICA (observer), UN, UNAMID, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNIFIL, UNMIL, UNMISS, UNOCI, UNSC (permanent), UNTSO, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO, ZC, red with a large yellow five-pointed star and four smaller yellow five-pointed stars (arranged in a vertical arc toward the middle of the flag) in the upper hoist-side corner; the color red represents revolution, while the stars symbolize the four social classes - the working class, the peasantry, the urban petty bourgeoisie, and the national bourgeoisie (capitalists) - united under the Communist Party of China, dragon, giant panda; national colors: red, yellow. The South Korean government has highlighted the slowing trade with China among the top risks for the national economy to be addressed promptly. China said Monday it will delay the release of economic growth figures, as the country's leadership gathers for a meeting set to hand President Xi Jinping a historic third term in office. National Statistics. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Economic Calendar. The supply shock has subsided, and the demand stimulus is still in effect, which are the two main factors contributing to this marginal growth. ), in October 2015, the Chinese Government announced that it would change its rules to allow all couples to have two children, loosening a 1979 mandate that restricted many couples to one child; the new policy was implemented on 1 January 2016 to address Chinas rapidly aging population and economic needs, 23 provinces (sheng, singular and plural), 5 autonomous regions (zizhiqu, singular and plural), and 4 municipalities (shi, singular and plural), 1 October 1949 (People's Republic of China established); notable earlier dates: 221 B.C. All Rights Reserved. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing announced it would allow a resumption of gradual liberalization. China has abruptly delayed the publication of key economic data, one day before its scheduled release, as the ruling Communist Party gathers at a major political . Ive not come across before a situation where a whole raft of statistical reporting has just been postponed, in nearly half a century of monitoring data releasesnot even in times of pestilence and conflict, Oxford University China specialist George Magnus told the NY Times. The package included fresh financing totaling more than RMB 1 trillion (US$146 billion) to promote investment and consumption as well as greater freedom for local governments to support the real estate sector. Growth rate same period previous year, Monthly Jan 1999 to Jun 2022 (Sep 14) Index 2015=100, Annual 1990 to 2015 (Sep 14) Growth rate same period previous year, Quarterly Q1 1999 to Q2 2022 (Sep 14) Accordingly, economists speculated Chinas situation possibly is worse than first thought. More than that, they decided to do so during the 20th Communist Party Congress, a huge, once-every-five-year event. Information transmission, software, and IT services grew 10.3 percent year-on-year. All three main industries experienced an annual growth increase: Certain industries saw significant quarterly growth, such as green energy and smart products: The manufacturing purchasing managers index (PMI) grew to 50.1 in September, from 49.4 in August. 3 min read. Outbound shipments in October shrank 0.3% from a year earlier, a sharp turnaround from a 5.7% gain in September, official data showed, and well below analysts' expectations for a 4.3% increase. Update, Oct. 24, 2022:China released its IIIQ economic data today, nearly one week late. The worlds second-largest economy is reeling. Get this delivered to your inbox, and more info about our products and services. The EU was Chinas second-largest trading partner with a total of RMB 4.23 trillion (US$586.6 billion), accounting for 13.6 percent of all imports and exports so far in 2022. China announced economic growth in Q3 and published economic indicators for September 2022. The value added to high-tech manufacturing and equipment manufacturing increased by 8.5 percent and 6.3 percent, respectively, compared to 2021. China Briefing is written and produced by Dezan Shira & Associates. China's leadership reshuffle puts greater weight on relations with the U.S. China names Xi Jinping loyalists for core leadership group, China shuffles leadership committee and retains many Xi allies, Sanctions on Russia aluminum may send ripple effects through global supply chains, China, 'factory of the world,' is losing its manufacturing dominance, Is it time to invest in China's internet giants? The value added of the secondary industry was RMB 35,018.9 billion up by 3.9 percent. Mon, Oct 24th 2022. Further, government policies also focus on guiding foreign investment into important sectors like advanced manufacturing, high-end technology, energy conservation, and modern services. They aim to improve working mechanisms at both the central and local government levels for large-scale foreign investment projects. View a high-resolution version of this graphic here. Chinas trade surplus with this region has also expanded by 93.4 percent during this time, reaching RMB 753.6 billion (US$104.5 billion). Stay Ahead of the curve in Emerging Asia. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. Most major central banks around the world have initiated a cycle of interest rate increases lately, and Chinas consumer price index grew by 2.8 percent year-on-year in September, indicating stronger inflation pressure. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030. As casino owner Terry Benedict (Andy Garcia) tells girlfriend Tess (Julia Roberts), In my hotel, theres always someone watching.. Unemployment rose to 5.5 percent in September, from 5.3 percent in the previous month. This calendar provides events for 196 countries including data releases for 300.000 economic indicators, actual values, consensus figures and proprietary forecasts. China. The financials, Xi Jinping's historic 3rd term as leader and his packing of the party with cronies combined to whack Chinese stocks. Today, China is the world's second largest economy, making up 16% of $86 trillion global GDP in nominal . By Marie Brockling. The value added of the primary industry was RMB 5,477.9 billion, up by 4.2 percent. ), 13.7% of total installed capacity (2016 est. Mainland China's Shanghai Composite lost 0.28% while the Shenzhen Component was down 0.35%. Spending on infrastructure projects has increased year-on-year at a quicker rate since May, with an 8.6 percent increase noted in the first nine months. The 33 measures released in May were also meant to hasten the completion of important foreign investment projects and more actively entice foreign investment. ), 5.194 trillion cu m (1 January 2017 est. In May 2022, Beijing released. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Industrial production data a measure of activity in the manufacturing, mining, and utility sectors showed a steep increase in September from a year earlier. For Jenny Wang, SVP, at Clyde Group, its likely Beijing decided to take the PR hit instead of releasing awful news.. One consequence of Chinas population control policy known as the one-child policy - which was relaxed in 2016 to permit all families to have two children - is that China is now one of the most rapidly aging countries in the world. There have also been significant improvements in access to health, education, and other services over the same period. Since the late 1970s, China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role. unveiled in August in the wake of a worsening real estate crisis and prolonged electricity shortages brought on by a severe drought. Join an event and well donate a tree to reforestation projects, Chinas economy recovered at a faster-than-anticipated pace in the third quarter. These resolutions show that the Chinese government is aware of the key role played by foreign capital and businesses in supporting overall economic growth. The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. Analysts expect the country's trade balance to grow from $84.7 billion to $95.9 billion. Inbound trade has essentially Continue reading on Economy.com With decreases in export volumes to Chinas major markets like the US, Germany, and France, export growth slowed in September to 5.7 percent. China wants the world to focus on the . FAI growth is a major contributor to domestic demand and includes infrastructure spending. The news came when China's ruling elite gathered in Beijing to attend the twice-a-decade national congress of the Communist Party. The financial industry grew 5.5 percent year-on-year. A panel of experts polled by AFP last week predicted average growth of 3% in 2022 - a long way off the 8.1% seen in 2021. On the other hand, your company isnt China. Global Business and Financial News . In the high-tech services sector, investments grew by 22.1 percent in services for transforming scientific and technological advancements and 18.7 percent in research, development, and design services. The weak October trade figures highlight the challenge for policymakers in China as exports had been one of the few bright spots for the struggling economy. However, since late 2015 the Chinese Government has strengthened capital controls and oversight of overseas investments to better manage the exchange rate and maintain financial stability. China continues to lose arable land because of erosion and urbanization. Since the early 1990s, China has increased its global outreach and participation in international organizations. China's economy grew by 0.4 per cent in the second quarter of 2022 compared with a year earlier, data released on Friday . Got a confidential news tip? Nevertheless, cumulative trade data for the past three quarters show signs of continuous growth. News and analysis on China's economy, including its opening up, the US-China trade war, growth rates and other key economic data. The fact that they dont even release the numbers means that the numbers are so pessimistic that its hard for them to even massage it into a slightly positive number, Victor Shih, a China expert at University of CA, San Diego, told the Times. After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. The financials, Xi Jinping's historic 3rd term as leader and his packing of the party with cronies combined to whack Chinese stocks. Posted 744.6 Million Yuan Net Profit in 2021, Shenzhen H&T Intelligent Control Co.,Ltd.s Net Profit Rose 47.6% in 2021. Delayed economic data is out: The Communist Party's 20th Congress ended yesterday (see Bigger Picture below) and earlier today, the National Bureau of Statistics released China's third quarter economic data: GDP increased by 3.9% year-on-year; The average urban unemployment rate was 5.4% (but for 16-24-year olds it reached 17.9% in September); We also have partner firms assisting foreign investors in The Philippines, Malaysia, Thailand, Bangladesh. Exports were down 0.3% y/y, while imports fell even further, dropping 0.7%. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. All rights reserved. Chinas trade surplus with South Korea shrank by 34.2 percent, standing at RMB 206.66 billion (US$28.66 billion) as of September 2022. Specifically, investment in manufacturing increased by 10.1 percent, and that in infrastructure increased by 8.6 percent. Exports grew 10.1 percent to reach RMB 2.93 trillion. to ease the implementation of foreign-invested projects. ), data are for registered urban unemployment, which excludes private enterprises and migrants, in 2011, China set a new poverty line at RMB 2300 (approximately US $400), data are for urban households only (2012 est. So, Chinese officials decided theyd eschew releasing critical economic information today (Oct. 18). Other sectors have not been as high performing. Some companies and CEOs operate as if they can maintain privacy," Wang says. Data is a real-time snapshot *Data is delayed at least 15 minutes. Overall, throughout the first three quarters of 2022, retail sales grew by just 0.7 percent year-on-year. The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. The population is distributed along the horizontal axis, with males shown on the left and females on the right. China's zero-Covid exit economic 'road map' urged, premier eyes fourth quarter. Notably, China was supposed to release its economic data on the morning of October 18. Yet in August 2022 Chinas central bank announced a rate cut, surprising most experts. China's October trade balance is on tap today. Chinas largest trade partner in the third quarter of 2022 remained the ASEAN region, which accounted for 15.1 percent of all imports and exports between January and September. Check economic calendar events in real time on Bloomberg and see the global financial market impact by country and importance with previous, forecast and actual figures. A Division of NBCUniversal. The slight acceleration in economic growth in 2017the first such uptick since 2010gives Beijing more latitude to pursue its economic reforms, focusing on financial sector deleveraging and its Supply-Side Structural Reform agenda, first announced in late 2015. world leader in gross value of agricultural output; rice, wheat, potatoes, corn, tobacco, peanuts, tea, apples, cotton, pork, mutton, eggs; fish, shrimp, world leader in gross value of industrial output; mining and ore processing, iron, steel, aluminum, and other metals, coal; machine building; armaments; textiles and apparel; petroleum; cement; chemicals; fertilizer; consumer products (including footwear, toys, and electronics); food processing; transportation equipment, including automobiles, railcars and locomotives, ships, aircraft; telecommunications equipment, commercial space launch vehicles, satellites, electrical and other machinery, including computers and telecommunications equipment, apparel, furniture, textiles, US 18.2%, Hong Kong 13.8%, Japan 6.1%, South Korea 4.5% (2016), electrical and other machinery, including integrated circuits and other computer components, oil and mineral fuels; optical and medical equipment, metal ores, motor vehicles; soybeans, South Korea 10%, Japan 9.2%, US 8.5%, Germany 5.4%, Australia 4.4% (2016), 64% of total installed capacity (2016 est. GDP grew 3.9% year over year, which was not too bad, though it was less than the 5.5% target, China's lowest in three decades. Here's the tax bill, Live updates: White House says no 'specific credible threats' to voters on midterm Election Day. After 1978, MAO's successor DENG Xiaoping and other leaders focused on market-oriented economic development and by 2000 output had quadrupled. The world's second-largest economy is incredibly influentialtrends in China help determine everything from the global prices of steel and pork to the balance of military power in the Taiwan . Previous Article Chinas Vape Industry: Consumption Tax to be Imposed from November 1, Next Article More Than a Hobby: Understanding the Esports Market in China . China Q3 2022 data shows economic recovery was faster-than-anticipated but zero-COVID policies and global recessionary trends are constraining efforts at a broader growth rebound. Chinese leaders also have undermined some market-oriented reforms by reaffirming the dominant role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time. China's economic growth plunges to 0.4 per cent, lowest in 2 years. Chart: 70 Years of China's Economic Growth. The trade surplus expanded by 14.2 percent to reach RMB 2.07 trillion (US$287 billion). Oct 03, 2022 15:29 PM. For all solutions offered by Exports to South Korea grew 16.5 percent, while imports merely grew 0.6 percent. , the bilateral deficit was partly caused by Chinas COVID-19 regulations, but also Seouls need for a long-term plan to gradually transform the way in which commerce between the two nations is structured. These policies include measures such as facilitating international travel for key personnel and allowing foreign companies to raise money on Chinas stock markets, a move that analysts said demonstrates Chinas determination to further open up its market and strengthen its economy. At a quick glance, by the third quarter of 2022: Industrial production in the third quarter rebounded significantly from the second quarter, with the best recovery registered in September. China. Total imports and exports of goods in September reached RMB 3.81 trillion (US$560.77 billion), a year-on-year increase of 8.3 percent. In May 2022, Beijing released 33 stimulus measures in an effort to revive the economy in the wake of the COVID-19 lockdowns. Since several developers began defaulting loans in the second half of 2021, leading to a widespread mortgage boycott, Chinas housing market has been in experiencing a profound crisis. Goldman Sachs says China is still 'months away' from reopening, China's exports shrink in October, badly missing expectations for growth, Here's what we know about the rebound in Chinese stocks this week, Barclays cuts China GDP outlook after forecasting U.S., Europe recession, China's Covid controls are pushing companies to diversify away from a 'start-stop economy', Major banks are bullish on Hong Kong's economy and China growth prospects, Xpeng electric car deliveries drop in October to half of Nio's, China's economy could rebound soon, but longer-term growth will be 'deeply challenging', India, China to see biggest jump in real salary next year, report shows, China's factory activity drops, bogged down by more Covid controls, China tech giants' push into U.S., Europe sets them up in clash with Amazon, As U.S. tightens the screws on China's chip industry, funds are still betting on it, American companies increasingly look outside of China after Covid, Foxconn's iPhone factory in China the world's largest hit by Covid outbreak, Investor fears about Xi's new leadership team 'may be misguided', Why China won't bail out its real estate sector, China GDP beats with a bounce in the third quarter, delayed data shows. Retail sales growth slipped to 2.5 percent (3 percent below predictions). HONG KONG China and Germany should work together more in these "times of change and instability," Chinese President Xi Jinping told German . Comparing the third quarter of 2022 to the second, the real economy has made some progress. However, analyses suggest that the trend was partially a reflection of the fluctuation in numbers between June and September, influenced by the macroeconomic conditions and the resurgence of COVID-19 cases. The US is Chinas largest export market and third-largest trade partner. The practice assists foreign investors into China and has done so since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. According to data gathered by brokerage Cinda Securities Co. Ltd., Chinas pre-owned housing market has shown signs of stabilizing amid a loosening of property regulations, with transactions in 15 surveyed cities increasing 40 percent year-over-year to 1.9 million square meters. Other moves include accelerating market opening, such as via the expansion of pilot areas for comprehensive opening-up in the services sector. Update, Oct. 24, 2022: China released its IIIQ economic data today, nearly one week late. China's economy could rebound soon, but longer-term growth will be 'deeply challenging' . 2022 Moodys Analytics, Inc. and/or its affiliates and licensors. On the other hand, real estate development, investment, and sales saw the largest contraction, with commercial housing sales dropping 26.3 percent from the previous year to RMB 9,938.0 billion (US$1,378.3 billion). Premier Li Keqiang said China's economy generally recovered and stabilised in the third quarter, but that . Producer Prices Index: Economic Activities: Industrial Activities: Total for China (People's Republic Of) Not Seasonally Adjusted. Eastern Asia, bordering the East China Sea, Korea Bay, Yellow Sea, and South China Sea, between North Korea and Vietnam, extremely diverse; tropical in south to subarctic in north, mostly mountains, high plateaus, deserts in west; plains, deltas, and hills in east, highest point: Mount Everest 8,848 m (highest peak in Asia and highest point on earth above sea level), coal, iron ore, petroleum, natural gas, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, rare earth elements, uranium, hydropower potential (world's largest), arable land, arable land 11.3%; permanent crops 1.6%; permanent pasture 41.8%, overwhelming majority of the population is found in the eastern half of the country; the west, with its vast mountainous and desert areas, remains sparsely populated; though ranked first in the world in total population, overall density is less than that of many other countries in Asia and Europe; high population density is found along the Yangtze and Yellow River valleys, the Xi Jiang River delta, the Sichuan Basin (around Chengdu), in and around Beijing, and the industrial area around Shenyang, frequent typhoons (about five per year along southern and eastern coasts); damaging floods; tsunamis; earthquakes; droughts; land subsidence, air pollution (greenhouse gases, sulfur dioxide particulates) from reliance on coal produces acid rain; China is the world's largest single emitter of carbon dioxide from the burning of fossil fuels; water shortages, particularly in the north; water pollution from untreated wastes; coastal destruction due to land reclamation, industrial development, and aquaculture; deforestation and habitat destruction; poor land management leads to soil erosion, landslides, floods, droughts, dust storms and desertification; trade in endangered species, world's fourth largest country (after Russia, Canada, and US) and largest country situated entirely in Asia; Mount Everest on the border with Nepal is the world's tallest peak above sea level, Han Chinese 91.6%, Zhuang 1.3%, other (includes Hui, Manchu, Uighur, Miao, Yi, Tujia, Tibetan, Mongol, Dong, Buyei, Yao, Bai, Korean, Hani, Li, Kazakh, Dai, and other nationalities) 7.1%, Standard Chinese or Mandarin (official; Putonghua, based on the Beijing dialect), Yue (Cantonese), Wu (Shanghainese), Minbei (Fuzhou), Minnan (Hokkien-Taiwanese), Xiang, Gan, Hakka dialects, minority languages (see Ethnic groups entry), Buddhist 18.2%, Christian 5.1%, Muslim 1.8%, folk religion 21.9%, Hindu < 0.1%, Jewish < 0.1%, other 0.7% (includes Daoist (Taoist)), unaffiliated 52.2%, data do not include Hong Kong, Macau, and Taiwan (2015 est. 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