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人人书 > 杂志 > Policy Stimulus Bears Fruit

Policy Stimulus Bears Fruit

时间:2024-10-26 07:21:58

Inthesecondquarterof2018,theChineseeconomygrewat6.7percentwhichisinlinewithexpectationsandmarginallyslowerthanthe6.8-percentgrowthrecordedinthepreviousthreequarters.Growthduringthefirsthalfthisyearalsostandsat6.7percent.AmidsttheongoingtradewarwiththeUnitedStates,asofJuly27,therenminbi(RMB)hasfallen8.2percentagainstthedollarsinceApril2.Havingfallenbelow3,000inJuneforthefirsttimeintwoyears,ShanghaiStockExchangeCompositeIndexmademinorgainsinJulyafterthegovernmentinjectedsomefreshcashtoboosttheeconomy.However,itwasstillat2,869onJuly30.TheChineseGovernmentbondalsoroseinJulyduetothepolicystimuluswiththe10-yearyieldgoingabovethe3.5-percentmarkagain.ForeigndirectinvestmentintoChinaroseby1.1percentyearonyearduringthefirsthalfof2018.

H12018TradeStrongDespiteU.S.Pressures

WhiletheU.S.-Chinatradetensionsareasignificantconcerngoingforthesecondhalfthisyear,analystsreportthatChina鈥檚tradecontinuedtoseegrowthintradeduringthefirsthalf.Overalltradeforthefirsthalfof2018stoodat14.12trillionyuan($2.09trillion),ayear-on-yearincreaseof7.9percent.Inthesameperiod,exportsrose4.9percentyearonyearwhileimportsgrew11.5percent,representingadecreaseinthebalanceoftradeof26.7percent.Thegrowthindomesticdemandof7.5percentoverthisperiodisacoredriveroftherapidgrowthinimports,leadingtothedeclineinnetexports.

KeyEconomicIndicatorsStable

GrowthinChina鈥檚consumerinflationslightlyoutpacedexpectationsinJuly,comingin2.1percenthigherthanJulyoflastyear.Meanwhile,China鈥檚producerpriceindexinchedslightlylowerthanJune,cominginat4.6percent.Theofficialmanufacturingpurchasingmanagers鈥檌ndexcameinat51.2,downfrom51.5inJune,butstillwellintotheexpansionaryrange.BesidesFebruary,(whichisregularlylowduetotheChineseNewYearholiday),thisisthelowestlevelinoverayear,sinceMayof2017.China鈥檚NationalBureauofStatisticssaidinastatementthatunseasonablyhightemperaturesandrain,coupledwithtradetensions,weretoblameforthedownturninmanufacturinggrowth.Tradetensionscontinuetocausesomeconcern,astheywerealsothereasoncitedfortheslowdowninGDPgrowthinthesecondquarter.

TheChinAfricaEconometerisproducedbyTheBeijingAxis,aninternationaladvisoryandprocurementfirmoperatinginfourprincipalareas:Procurement,SalesActivation,Capital,andStrategy.Formoreinformation,pleasecontact:KobusvanderWath,,www.thebeijingaxis
   

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