People's Congress Meets, Discusses Greater Stimulus
Beijing is once again the site of the annual session of the National People's Congress and Chinese People's Political Consultative Conference. Thousands of representatives and committee members from all areas of the country, political, geographical, and social, are gathering with particular interest in current economic developments. Hope is rife that the government will launch further stimulation policies, including more investment.
March 3rd,2009
Local Governments to Issue Bonds despite Heavy Debts
With both central and local governments' fiscal income on the slide, Beijing is to allow local governments to issue bonds, which may total around 200 billion yuan. Local governments are now reporting the amount of debt they plan to issue to the Ministry of Finance and the National Development and Reform Commission.
February 19th,2009
Fiscal Revenue Plummets in January
January figures indicate China's fiscal income decline is more serious than had been predicted. Analysts now say fiscal income growth will be lower than early expectations, and will possibly affect the government's ability to fund its economic stimulus plan, and force the Ministry of Finance (MOF) to reevaluate and rearrange the scale of national debt and deficit.
February 17th,2009
It's a Bit Early to Say China's on the Rebound
Those hoping for China to make a quick exit from the ongoing international economic slump might do well to read an article publish 71 years ago by one Mao Zedong. In On Protracted War, the future Great Steersman speculated on the length of the Anti-Japanese struggle, and warned his compatriots to be fully prepared for protracted war. The present situation is perhaps not so dire, but it does not look to be over any time soon.
February 12nd,2009
Will the Economy Turn Bullish in the Year of the Ox?
Thanks to a series of economic stimulus policies, the macro economic figures in December 2008 show that the pace of economic recession seems to have slowed down. The next six months will tell whether these measures really work. Will we see a turn-around in the lunar year of the Ox?
February 3rd,2009
Economic Difficulties Sweep China
25 provinces had held their NPC and CPPCC annual sessions and disclosed preliminary economic statistics for 2008 and targets for 2009 in their government reports. Among these provinces, 22 provinces saw a decline in GDP growth rate compared to 2007, 2 provinces recorded higher GDP growth than 2007, and one province remained roughly same. On average, GDP growth of the 25 provinces declined by 2.02 percentage points.
January 21st,2009
China's Economy Overtakes Germany's
Its statistics lagging, China finally finds out two years after that, according to exchange rates, it became the world's third largest economy. As China is still updating its statistics, the accounting for some of which is five years tardy, China's GDP may be found to be even larger according to current exchange rates.
January 16th,2009
PPI Drops into the Negative
Prices for producer goods continued their fall in December, and the monthly PPI dropped into the negative, making it difficult to judge from December figures whether the economic stimulus policy has begun to work.
January 14th,2009
Sharp Import Decline More Worrying than Export Fall
In December, 2008, a worsening foreign trade environment continued to pressure China's imports and exports. Analysts expect exports to continue to decline in the first quarter of this year.
January 14th,2009
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