Special Report: Global Financial Crisis
BEIJING, Nov. 14 (Xinhua) -- China's urban fixed-asset investment hit 11.32
trillion yuan (1.66 trillion U.S. dollars) in the first 10 months, up 27.2
percent from the same period last year, the National Bureau of Statistics (NBS)
said on Friday.
The growth rate was 0.3 percentage points higher than a year earlier, but
0.4 percentage points lower compared than the first three quarters of this year.
This comes after the release of a series of economic data, indicating the
country's economic growth, exports and some industries are slowing.
The investment deceleration was a result of weak market confidence and
declining profits, said Asian Development Bank senior economist Zhuang Jian.
Investment in real estate reached 2.39 trillion yuan in the first 10
months, up 24.6 percent from a year earlier, but down from 26.5 percent in the
first nine months.
Home sales totaled 450 million square meters in the first 10 months, down
16.5 percent fro the same period last year.
Completed investment by state-owned enterprises stood at 4.71 trillion
yuan, up 21.3 percent.
Investment in primary industry grew 61.8 percent to 173.2 billion yuan
while that of secondary industry rose 30 percent to 5.08 trillion yuan. Tertiary
industry investment increased 24.3 percent to 6.07 trillion yuan.
The non-metallic minerals sector saw a 48.6-percent increase, while
investment in coal mining jumped 41 percent and energy investment was up 16
percent from a year earlier.
The government on Sunday unveiled a stimulus package estimated at four
trillion yuan over the next two years to boost domestic demand. The money is
marked for programs in 10 major areas, such as low-income housing, rural
infrastructure, water conservancy, electricity, transport, environment,
technological innovation and rebuilding from disasters, most notably the May 12
earthquake.
However, it would be a while for the stimulus package to take effect on
bolstering investments, and fixed-asset investment would keep falling over the
next two months, Zhuang said.
China CPI eases to 4% in
October
BEIJING, Nov. 11
(Xinhua) -- China's consumer inflation rose at a slower annual rate of 4 percent
in October, giving the government more room to ease macroeconomic controls to
stimulate the economy.
Rises in consumer price index (CPI), the main gauge of
inflation, slowed for the six straight months. The figure, compared with 4.6
percent in September, 4.9 percent in August, 6.3percent in July, 7.1 percent in
June, and a nearly 12-year-high of8.7 percent in February, was broadly in line
with most forecasts. Full story
China PPI falls to 6.6 % in
October
BEIJING, Nov. 10
(Xinhua) -- China's producer price index (PPI), rose at a slower annual rate of
6.6 percent in October, the National Bureau of Statistics (NBS) announced on
Monday.
The rise in factory gate prices was down from 9.1 percent
in September and the 12-year high of 10.1 percent in August. Full story
China's 4 trillion yuan stimulus to
boost economy, domestic demand
BEIJING, Nov. 9 (Xinhua) -- China said on Sunday it will
loosen credit conditions, cut taxes and embark on a massive infrastructure
spending program in a wide-ranging effort to offset adverse global economic
conditions by boosting domestic demand.
This is a shift long advocated by analysts of the Chinese
economy and by some within the government. It comes amid indications that
economic growth, exports and various industries are slowing. Full story
China adopts "active" fiscal,
"moderately easy" monetary policies to boost
economy
BEIJING, Nov. 9
(Xinhua) -- China has decided to adopt active fiscal policy and moderately easy
monetary policies to boost fast but steady economic growth by expanding domestic
demand, according to an executive meeting of the State Council on Sunday.
It is estimated that investment into infrastructure,
social welfare and other key sectors will amount to four trillion yuan by the
end of 2010. Full story
China tries to revive economy despite
daunting challenges
BEIJING, Nov.
9 (Xinhua) -- Although China doesn't celebrate Christmas, Lou Qijun is one of
the many Chinese toy and gift manufacturers who anticipates a visit from Santa
Claus every year in the form of seasonal orders from the Europe and North
America.
Not so this year, says Lou, chairman of Yiwu Qiling Toys
Co. Ltd., a leading toy producer in east China's Yiwu City, Zhejiang Province,
after returning from the Canton Fair, the country's biggest trade show which
concluded on Thursday. Full story
