Chinese Economics Thread

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Feature: Chinese, U.S. companies jointly building mega methanol plant in Louisiana
Xinhua| 2019-03-27 05:08:08
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Deep into St. James Parish, U.S. state of Louisiana, hundreds of construction workers are busy working on framed structures and installing giant equipment.

The 1,300-acre site on the west side of the Mississippi River will be home to a mega methanol production facility.

Yuhuang Chemical Industries Inc. (YCI), a subsidiary of China's Shandong Yuhuang Chemical, is constructing a 1.85-billion-dollar methanol plant here.

The project is one of the largest greenfield foreign direct investment (FDI) by a Chinese company in the United States. It was announced in 2014 and started construction in January 2017.

The plant facility is expected to start commercial production in mid-2020, following the completion of the first-phase YCI Methanol One.

YCI Methanol One will have a capacity of producing approximately 1.7 million metric tons of methanol per year, according to the company.

"With a productive capacity of about 5,000 metric tons every day, we aim to build a world-class methanol plant," Charlie Yao, CEO of YCI Methanol One, told Xinhua in a recent interview.

Despite various challenges, Yao said the project has made significant milestones over the past year.

"One of the largest one is that we have formed strategic alliance with the Koch Industries," said Yao.

Last August, Koch Methanol, an affiliate of Koch Industries, announced to buy into YCI's methanol production facility in Louisiana.

According to the joint agreement, Koch Methanol has acquired an indirect minority equity interest in YCI Methanol One, LLC.

"Koch Methanol seeks to build long-term, mutually beneficial relationships and this investment is a good example of the opportunities we look for and we're very excited to continue to build and grow this relationship," said Jim Sorlie, senior vice president with Koch Methanol.

Methanol is used in the manufacturing of countless everyday products, including plywood, carpet, fuels and plastics.

As part of its investment, affiliates of Koch Methanol will receive the exclusive methanol offtake rights from the new facility, as well as construct, own, and operate the methanol terminal assets for the outbound flow of methanol.

After site clearing, excavation, backfill and finishing the foundation, the 1.85-billion-dollar methanol plant has been making significant progress in its construction these days.

"Starting from the year 2019, we're in a critical stage called moving from the below ground, which is the foundation stage, into the above ground," said Yao.

All the major equipment that has been delivered to the site will be erected in the first half of this year, he said.

Since last year, the project has made visible achievements, with major facilities such as distillation towers and power distribution building about to be finished and key production equipment rolling out at the site ready to be installed, according to Yao, and he expects more milestones to come in the near future.

"Early next year, the contractor will start to turn the unit over to YCI ownership, ready for commission, and we will train operators ready to start the production by mid of next year," he said.

There are now some 550 construction workers at the site, said the company and the peak construction employment will exceed 1,000. The plant will also include 100 permanent direct jobs during operation.

The world-scale methanol facility has been hailed by many as a sign of strengthening business ties between China and Louisiana.

In January, Shandong Yuhuang and Louisiana Economic Development (LED) were presented with the Outstanding FDI Partnership Award by the New York-based Chinese General Chamber of Commerce, the largest and most influential non-profit organization representing Chinese enterprises in the United States, with its members exceeding 1,500.

Don Pierson, secretary of LED said Yuhuang's capital investment, job creation and business purchases in Louisiana will help create a better quality of life for locals.

He also spoke highly of the Chinese companies that are represented in his state as they do not only benefit the regional economy by creating jobs and contributing to local communities, but are also responsible participants regarding safety and security around their facilities.

Chinese commerce has already been a transformative force in Louisiana's economy, with extensive trade and cross-border investment linking the two more strongly than ever, according to the LED website.
 
now noticed the tweet
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China's manufacturing
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came in at 50.5 in March, up from 49.2 in February, the National Bureau of Statistics said on Sunday. The reading marked a record high in five months and was reportedly a result of accelerated production activities and improved domestic demand.

D29GTsiUkAU_EUC.jpg
 

pipaster

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BEIJING, March 19 (Xinhua) -- China announced Tuesday that it has phased out a total of 280,000 tonnes of ozone-depleting substances (ODS) scheduled in the Montreal Protocol on Substances that Deplete the Ozone Layer.

Guo Jing, a senior official from the Ministry of Ecology and Environment, said the country will continue to fulfill its promise and strengthen its supervision on the controlled substances to achieve its goal.

"The Chinese government has no tolerance for any illegal production of ODS," said Guo, adding that China launched a special campaign nationwide to crack down on such offenses last year.

In 2018, China destroyed two manufacturing spots that illegally produced CFC-11, an ODS commonly used for products such as air conditioners, and 10 companies were punished.

China signed the protocol in 1991 and the country's reduction of ODS accounts for over half of the total reduction by developing countries.

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BEIJING, March 23 (Xinhua) -- China's fireproofing material sector registered stellar performance last year, with output returning to growth and profits up significantly.

The sector's total output reversed a four-year losing streak in 2018 with a 2.3-percent increase year on year, standing at 23.45 million tonnes, driven by recovering demand from downstream industries at home and abroad, according to a report of the Ministry of Industry and Information Technology.

Fireproofing material producers raked in combined profits of 14.6 billion yuan (2.18 billion U.S. dollars) last year, up 38.4 percent from a year ago. The main business revenues gained 12 percent to surpass 200 billion yuan.

The faster increases in profits and revenues suggest improved development quality, the report said.

The report also showed China's exports of fireproofing materials and products notched a record high of 4.17 billion U.S. dollars, and producers have started to put more emphasis on finished products than materials.

Despite the performance and quality improvement, the report said the sector is still plagued by outdated capacity and more should be done to accelerate the application of new technologies, promote intelligent production, and push forward industrial adjustments.

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ZHENGZHOU, March 20 (Xinhua) -- A "smart factory" capable of recycling waste tires without causing pollution has been built in central China's Henan Province as the latest innovation to aid China's green drive.

The factory in Runan County, jointly launched by Chinese tiremaker Doublestar Group and 10 universities, aims to tackle the pollution problem long plaguing China's waste tire recycling.

Data shows that China had about 380 million waste tires in 2017 and the number increases by 6-8 percent every year. The country's recycling industry mostly deals with waste tires of trucks and buses by tire retreading, while passenger car tires usually end up in small oil refineries that cause serious pollution.

Southeast University, which led the development team of the project, said they have made breakthroughs in technologies including green pyrolysis from waste tires and carbon black regeneration to render the factory pollution-free.

The 13-hectare factory, with an investment of 330 million yuan (49.3 million U.S. dollars) in the first phase, can handle 100,000 tonnes of waste tires and produce 45,000 tonnes of pyrolysis oil and 35,000 tonnes of carbon black per year. Its annual sales are expected to reach 360 million yuan, said Chai Yongsen, president of Doublestar Group.
 

Hendrik_2000

Lieutenant General
Where is Gordon Chang and his cohort of "sky will fall and China is doomed"?

China's factories are now defying the economic slowdown

By Daniel Shane,
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Updated 4:21 AM ET, Mon April 1, 2019
via Beijingwalker
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China's factories are picking up new orders and hiring workers again, defying the recent slowdown in the world's second-biggest economy.

The country's huge manufacturing industry unexpectedly rebounded in March, government figures showed Sunday. The official purchasing managers index for the month jumped to 50.5, compared to 49.2 in February. A reading above 50 indicates growth from the previous month.
A separate
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of manufacturing activity by media group Caixin and research firm Markit released Monday was also unexpectedly positive.

Goods made in Chinese factories are shipped all over the world, and their demand is often viewed as a barometer for the health of the
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.


Growth in China's factory sector shifted into reverse at the end of last year and economists polled by Refinitiv had predicted this trend would continue.

The figures "will go a long way to allaying slowdown fears about China, at least in the short-term," wrote Jeffrey Halley, senior Asia-Pacific market analyst at investment firm Oanda, in a market commentary Monday.

Investors will now be focusing on the next stage of
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between the United States and China, which are due to take place in Washington this week, Halley added.

The rebound in China's manufacturing sector and optimism over trade talks between the world's top two economies boosted Asian stock markets Monday.

China's Shanghai Composite (
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) index ended the day up 2.6%. Hong Kong's Hang Seng(
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) gained 1.7% and Japan's Nikkei (
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) rose 1.4%.

Stimulus is starting to bear fruit
Chinese growth has lost momentum following government efforts to crack down on risky lending, which starved many companies of the funds they needed to expand.

The world's second largest economy has also started feeling the effects of the trade war with the United States, which has resulted in new tariffs on about $250 billion of Chinese exports.
The Chinese government last month predicted
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of between 6% and 6.5% in 2019. That's below last year's 6.6% rate of expansion, which was already China's slowest annual growth in three decades.

Beijing in response has resorted to trillions of dollars worth of new
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intended to stimulate the economy, including tax cuts for businesses, infrastructure spending and looser monetary policy.

March's upbeat data shows these policies "are apparently bearing fruit," wrote Raymond Yeung, a senior economist at investment bank ANZ, in a note to clients Monday.

The Caixin PMI
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noted that factories were hiring more workers for the first time in five years.

Some analysts said the latest economic figures indicated that China's economy had now bottomed out, and growth would likely continue to strengthen in the coming months as the effects of stimulus measures are felt.

But others warned that it was still too early to tell if China's economic picture was improving. "We still think growth could weaken again in the near-term," said Julian Evans-Pritchard, senior China economist at research firm Capital Economics.
 
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China's economy to grow over 6 pct in 2019, 2020: ADB
Xinhua| 2019-04-03 20:54:09
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China's economy will continue to grow above 6 percent this year and next in line with the Chinese government's growth target of 6 to 6.5 percent, the Asian Development Bank (ADB) said in a report released on Wednesday.

The latest Asian Development Outlook (ADO) 2019, ADB's flagship economic publication, said China's economy is forecast to grow 6.3 percent in 2019 and 6.1 percent in 2020.

China's economy "remains strong despite the growth slowdown in recent years," said ADB Chief Economist Yasuyuki Sawada, adding that favorable fiscal reforms at the start of the year, particularly on personal income tax and social security, will help alleviate the adverse effects of anticipated weaker wage growth and boost domestic consumption.

China saw growth slowing from 6.8 percent in 2017 to 6.6 percent in 2018, in line with the government's growth target of around 6.5 percent, the ADO noted.

On the demand side, it said consumption confirmed its role as the main driver of growth by contributing 5.0 percentage points, up from 3.9 points in 2017.

The Chinese government reinforced its support for private consumption when it introduced personal income tax reform comprising new tax brackets and a higher standard allowance effective on October 1, 2018, with more specific additional deductions effective on January 1, 2019.

On the supply side, the ADO said services remained the main driver of growth, despite slowing from 7.9 percent of growth in 2017 to 7.6 percent last year. Services contributed 3.9 percentage points to gross domestic product (GDP) growth, lifting the sector's share in GDP from 51.9 percent to 52.2 percent.

It said the consumer price inflation of China will remain benign at 1.9 percent in 2019 and 1.8 percent in 2020.

The report further said that public spending in 2019 and 2020 is expected to be higher than in 2018 to support the economy.

The report added that recent government steps to improve investment opportunities for foreigners will boost inflows of capital into the county.

"Inflows of capital will pick up," the report said.
 

Hendrik_2000

Lieutenant General
Via Taishang
Strong economic indicators outperform world expectations
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0013729e4771109028f727.jpg


By Wang Cong and Wang Yi (Global Times) 07:46, April 04, 2019

Economy’s resilience, govt policies boost confidence


It was not long ago when many predicted a pessimistic year for the Chinese economy in 2019. They seemed well reasoned. After all, the world's second largest economy was under tremendous pressure from a trade war and internal structural issues. So when a slew of recent indicators painted a more upbeat picture, it caught many off guard.

Headlines around the world have described the recent positive data out of China unexpected, but a deeper look into the Chinese economy and government policies show that such a rebound did not come easily. It underscored the resilience of the Chinese economy that helps withstand the hardship which could crush other economies, analysts said.

Adding to the growing bullish view, a private survey released on Wednesday showed that China's service sector expanded at the fastest pace in 14 months. The Caixin/Markit Services Purchasing Managers' Index (PMI) rose to 54.4 in March, up 3.3 points from February.

The closely-watched Caixin/Markit manufacturing PMI, released on Monday, also rose to 50.8 in March, the highest reading in eight months, as new orders and staff levels showed sound improvement.

The Caixin/Markit survey, which focuses on smaller private firms, followed strong readings of official PMIs, which cover large State-owned companies. The official manufacturing PMI rose to 50.5 in March, while non-manufacturing PMI rose to 54.8. Together, they offer a positive picture of China's massive manufacturing and services sectors.

"[The rebound in PMI] is mainly because of domestic stimulus policies," Tian Yun, vice president of the Beijing Economic Operation Association, told the Global Times on Wednesday, adding that government pledges to reduce financial burdens for firms might have spurred activity.

Prioritizing stabilizing growth, the Chinese government announced cuts to taxes and fees totaling 2 trillion yuan ($298.22 billion) this year, while also vowing to cut red tape and create a better business environment.

Strong resilience

The strong PMI readings have sparked hopes that the Chinese economy may be bottoming out. "The new highs for both manufacturing and service PMI show that China's economy is stabilizing and improving," Liu Xuezhi, an economist at Bank of Communications, told the Global Times on Wednesday.

PMI readings are hardly alone in fueling optimism toward the Chinese economy. Recent developments from a bullish stock market to easing trade tensions with the US also injected much needed confidence into the Chinese economy.

Chinese stocks have been recovering from a tough 2018. On Wednesday, the Shanghai Composite Index gained 1.24 percent to close at 3,216.30, the highest level since March 2018. The index has grown 30 percent since the beginning of the year, buoyed by improving domestic sentiment as well as inclusion in global stock indexes.

Highlighting the role the Chinese economy plays in the regional and global economies, the uplifting data has buoyed stock markets in Asia and beyond. Following the PMI data release on Monday, stocks in Japan, South Korea and Australia all surged, with the KOSPI gaining the most at 1.2 percent.

There has also been positive development in China's external environment. There are high hopes that China and the US could reach a trade agreement to end the tariff war soon as officials are continuing talks in Washington on Wednesday.

There are also signs of improving ties between China and several trade partners, including the EU, Italy, France and New Zealand after recent interactions with high-level officials who vowed to further promote trade and economic cooperation. Italy, for instance, became the first country in the Group of Seven to sign up on the Belt and RoadInitiative.

All of these are boosting confidence in the Chinese economy, but they did not come easily and would have been impossible if it weren't for the strong resilience of the Chinese economy, analysts said.

"That is the robust manufacturing China has built over the decades, the motivation of the Chinese people to pursue better lives and the unswerving will of the Chinese government to focus on nothing but economic development," Tian said.

Still, officials and analysts warned that the hardships of the Chinese economy might be far from over, as downward pressure is expected to persist due to industrial transformation and a sluggish global economy.

"Let me stress that given the visible increase in uncertainties and destabilizing factors as well as externally-generated risks, difficulties and challenges may still lie ahead," Chinese Premier Li Keqiang said in a speech at the BoaoForum for Asia on March 15.

"Nevertheless, we will carry on with our policies as long as the major economic indicators are kept within the appropriate range the whole year," he remarked.
 

pipaster

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JINAN, March 27 (Xinhua) -- East China's Shandong Province on Wednesday issued a 1 billion yuan (149 million U.S. dollars) local government bond over the counter at commercial banks for the first time to smaller investors.

Individual and small- and medium-sized institutional investors can buy the bond via the channels of Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank and Bank of China between Thursday and next Monday. The purchase threshold is 100 yuan, according to the provincial department of finance.

The land reserve bond has a maturity of three years and pays a 3.01 percent coupon rate.

The actual returns are higher as the investors are exempt from income and value-added taxes, according to the department.

Shandong is among several regions nationwide to pilot the government bond issuance over the counter at commercial banks to smaller investors starting this week.

The Ministry of Finance said Monday that the move was to broaden the channels for local government bond issuance and meet the investment needs of individuals as well as small- and medium-sized enterprises.

Previously, local government bonds were only sold and traded on the interbank bond market and on domestic stock exchanges. The investors mainly include banks, securities firms and fund management companies.

China's local governments ramped up bond issuance in the first two months of the year to ensure enough funding for major projects and stabilize investment.

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BEIJING, March 28 (Xinhua) -- China's deficit in foreign service trade narrowed in February, official data showed Thursday.

The deficit decreased to 20.6 billion U.S. dollars last month, down from 22.8 billion dollars in January, the State Administration of Foreign Exchange (SAFE) said in a statement.

Income from trade in services stood at 15.8 billion dollars last month, while expenditure was 36.4 billion dollars.

In contrast to merchandise trade, trade in services refers to the sale and delivery of intangible products such as transport, tourism, telecommunications, construction, advertising, computing and accounting.

China has taken steps to improve the development of trade in services, including gradually opening up the finance, education, culture and medical treatment sectors.

SAFE began issuing monthly data on service trade in January 2014 to improve the transparency of balance of payment statistics. Since the start of 2015, it has also included monthly data on merchandise trade in its reports.

Last month, China saw a surplus of 8.5 billion dollars in foreign merchandise trade, down from 46 billion dollars in January this year.

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BEIJING, March 29 (Xinhua) -- China's external debt expanded 12 percent year on year to 1.97 trillion U.S. dollars at the end of last year, the State Administration of Foreign Exchange (SAFE) said Friday.

The growth was mainly attributed to the increase of debt securities, currency and deposit, as well as trade credit and advance payment, the SAFE said.

"China's economy saw steady performance in 2018, the demand of foreign investors for owning domestic RMB bonds continued to increase and the structure of debt instruments became more stable," SAFE spokesperson Wang Chunying said.

"China's foreign debt risk is generally within control," Wang said, citing that China's foreign debt ratio, debt ratio, debt service ratio and other indicators are within the internationally recognized safety line.

SAFE will further improve the "macro-prudential plus micro-supervisory" management framework for cross-border capital flows, pay close attention to changes in the foreign debt situations and strengthen foreign debt risk prevention, Wang said.

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(to stir the pot a little)

TAIPEI, March 29 (Xinhua) -- Taiwan's manufacturing sector contracted for a fourth consecutive month in February due to weaker global demand and the Spring Festival holidays, according to a leading economic think tank.

The monthly composite index for the manufacturing sector in February had a "blue light," which that signals contraction, even though it increased slightly by 0.26 points from a month earlier to 10.18 points, according to a report from the Taiwan Institute of Economic Research (TIER) Friday.

Under TIER's five-color system to assess the sentiment of the manufacturing sector, a blue light (10.5 points and below) indicates contraction, yellow-blue light (10.5-13) means sluggishness, green light (13-16) signals stable growth, yellow-red (16-18.5) suggests fast growth, and red light (above 18.5) represents prosperity.

The barometer has remained in the contraction field since November 2018, after being sluggish for five months after June last year.

About 69.11 percent of manufacturers covered by the think tank's monthly survey had a blue light in February, compared with 60.17 percent in January, while 21.13 percent had a yellow-blue light, down from 33.55 percent in January.

No manufacturers had a red light for prosperity, with 7.79 percent showing stable growth, and 1.97 percent fast growth.
 

Hendrik_2000

Lieutenant General
People are people absent of politic they just want to live simple life. Have roof over the head and enough food on the table and consuming consumer good
Case in Point Tajik a Indo European people but fiercely loyal Chinese citizen . Some of them work as border guard guarding the corner of China with Central Asia from JIhadist infiltrator Good relation with the Han . Now they are benefiting from from good road, good internet and electricity Modern electronic market place, And EMS express mail service

MS delivery in Chinese Pamir, Climbing over Mount Muztagata to reach the remotest villages

Taobao, Alibaba, JD.. online shopping is the main way of shopping in China, it requires fast delivery service to every small corner of this vast country, In Chinese pamir region, everyday some young hard working delivery boys brave the harsh weather, low oxygen and altitude sickness, drive over Mount Muztagata, one of the tallest peaks in the world, to get customers goods delivered to the most isolated and remotest villages in China.

Sometimes their vans break down and local villagers drive their own cars to help those delivery boys.

 
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