Chinese Economics Thread

[Jura The idiot]

China to keep yuan basically stable: FM spokesperson
Xinhua| 2018-10-18 19:24:42

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China will keep the yuan's exchange rate basically stable at a reasonable and balanced level, and hopes the United States can refrain from politicizing the currency issue, a Chinese Foreign Ministry spokesperson said Thursday.

In a semi-annual currency report issued Wednesday, the U.S. Treasury Department did not list China as a currency manipulator. But the report did say the U.S. would continue to monitor and review China's currency practices.

The report's conclusion that China does not manipulate the exchange rate is in line with common sense and the consensus of the international community, spokesperson Lu Kang told a routine press briefing.

As a responsible major country, China has repeatedly reiterated that it will not engage in competitive currency devaluation and will not use the exchange rate of the yuan as a tool to deal with external disturbances such as trade disputes, Lu added.

"China will unswervingly deepen the reform of exchange rate marketization and continue to improve the managed floating exchange rate system, which is market-oriented and formulated in reference to a basket of currencies."

China hopes the U.S. can respect the law of the market and stay objective, rather than politicize the exchange rate issue, said the spokesperson.

 

[Anlsvrthng]

Interesting, I rechecked the production numbers, and looks like the class 8 production drooped to 63% of the 2017 value.
class 8 is the heavy duty trailer truck, the most expensive and most used type of truck.

So, looks like the companies doesn't need too much shipping

In the EU the car sales drop by 20% month over month, however the rolling data doesn't show any significant change yet.

The US showing 5.5%.

Interesting.

 

[Anlsvrthng]

China to keep yuan basically stable: FM spokesperson
Xinhua| 2018-10-18 19:24:42

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The huge pile of treasury exist because China manipulating the exchange rate.
Without treasury purchase the yuan should be more expensive.

 

[Jura The idiot]

now noticed the tweet

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: China's GDP expands 6.7% in the first 3 quarters of the year, the National Bureau of Statistics said on Friday.

 

[Jura The idiot]

now noticed in Twitter:

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The Hong Kong-Zhuhai-Macao Bridge, the world’s longest cross-sea bridge, will officially open to traffic at 9 am on October 24, authorities announced on Friday. The 55-km bridge is the first large scale infrastructure project jointly developed by the 3 regional governments.

***

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The world's longest trans-oceanic bridge, Hong Kong-Zhuhai-Macao Bridge will officially open to traffic at 9 a.m., Oct. 24, according to authorities; daily and evening prices set at 58 and 63 yuan respectively

 

[Jura The idiot]

now I read
Economic Watch: China able to cope with economic challenges: experts
Xinhua| 2018-10-21 21:55:35

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Despite challenges at home and abroad, China is able to maintain a stable economic performance with the help of pro-growth policies, experts said.

Latest data shows that China's GDP expanded 6.7 percent year on year in the first three quarters of 2018, with the growth rate slowing to 6.5 percent in the third quarter (Q3) from 6.7 percent in the second quarter.

While the pace signaled a trend of overall stability and steady progress, China faces more external challenges and rising downward pressure, according to the National Bureau of Statistics.

The slowdown in Q3 was a combined result of external headwinds as well as decelerated growth in domestic infrastructure investment, the financial research center at the Bank of Communications said in a report.

As China increased policy incentives from August to improve infrastructure, investment growth will likely recover in Q4, the report said.

"We are fully confident that China is able to achieve its annual growth target of 6.5 percent," it said.

China's economy is going through structural changes that many analysts said inevitably come with pains.

While fostering the growth of new drivers such as consumption and innovation, the country has remained committed to addressing existing issues, such as high financial leverage and pollution.

The key to striking a balance between maintaining growth and defusing financial risks is to properly implement the country's policies with supply-side structural reform at the core, said Vice Premier Liu He.

Policy makers have stepped up pro-growth measures, including a cut in the cash that banks must hold as reserves, more tax breaks for small and medium-sized enterprises, and faster approval and construction of infrastructure projects.

Authorities also unveiled new measures in September to further tap the country's residential consumption potential, with specific measures outlined to upgrade consumption.

Such measures, together with a revised individual income tax law, which lowers the tax burden for middle- and lower-income households, will help steady consumption growth in Q4, the Bank of Communications report said.

"As policies gradually get implemented, consumer demand has much room for further expansion," it noted.

Yan Se, an associate professor with the Guanghua School of Management at Peking University, said in addition to the policy measures to support consumption and infrastructure investment, the central government has notable flexibility in applying fiscal and monetary tools to keep the economy stable amid global fluctuations.

China's economy may seem to be in some difficulties from a short-term perspective or being viewed through specific cases. However, its development prospects are very bright when being judged from a historical perspective, Liu said.

"We will continue to implement the proactive fiscal policy, prudent monetary policy, explicit industrial investment policies, and more inclusive and sustainable social policies to further implement the core policy of supply-side structural reform," he said.

 

[Jura The idiot]

Saturday at 8:56 AM

now noticed in Twitter:

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The Hong Kong-Zhuhai-Macao Bridge, the world’s longest cross-sea bridge, will officially open to traffic at 9 am on October 24, authorities announced on Friday. The 55-km bridge is the first large scale infrastructure project jointly developed by the 3 regional governments.

***

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The world's longest trans-oceanic bridge, Hong Kong-Zhuhai-Macao Bridge will officially open to traffic at 9 a.m., Oct. 24, according to authorities; daily and evening prices set at 58 and 63 yuan respectively

... and

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President Xi Jinping on Tuesday announced the opening of the Hong Kong-Zhuhai-Macao Bridge (

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) in Zhuhai City, Guangdong Province. The 55-km-long bridge will open to traffic at 9 am on Wednesday after nearly nine years of construction

 

[Jura The idiot]

the bridge is on top of major Central European servers right now; I liked this picture most (from inside of

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):

 

[Jura The idiot]

Yesterday at 7:41 AM

the bridge is on top of major Central European servers right now; I liked this picture most (from inside of

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):

and now noticed (just jumped through)

 

[Jura The idiot]

Saturday at 8:56 AM

now noticed in Twitter:

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The Hong Kong-Zhuhai-Macao Bridge, the world’s longest cross-sea bridge, will officially open to traffic at 9 am on October 24, authorities announced on Friday. The 55-km bridge is the first large scale infrastructure project jointly developed by the 3 regional governments.

***

and

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The 55km-long Hong Kong-Zhuhai-Macao Bridge (HZMB) officially opened to traffic on Wednesday, after almost nine years of construction.