News

China clears forex regulations to facilitate trade, investment

Date Oct 17 2018 08:49:11 Source:Xinhua

BEIJING, Oct. 16 (Xinhua) -- China's foreign exchange regulator has abolished 17 regulations on forex management to promote trade and investment facilitation.

As a part of the government's reform to improve regulations and services, clearing the outdated regulations will help market entities better understand the country's forex policies, the State Administration of Foreign Exchange said Tuesday in a statement.

The abolished regulations used to center on aspects including import forex payment, trade in service and foreign debt, as well as the forex management for financial institutions, companies and individuals.

The authority has also scrapped the requirements on the quota and account validity for front-end expenses of foreign direct investment in two regulations to make direct investment into China easier.

In the future, the administration will continue to clear outdated laws and regulations for trade and investment facilitation, the statement said.

China's producer prices rise 3.6 pct in September

Date Oct 16 2018 13:35:39 Source:Xinhua

Source: Xinhua| 2018-10-16 11:33:10

BEIJING, Oct. 16 (Xinhua) -- China's producer price index (PPI), which measures costs of goods at the factory gate, rose 3.6 percent year-on-year in September, the National Bureau of Statistics said Tuesday.

The growth slowed from the 4.1-percent gain in August.

NBS statistician Sheng Guoqing said the carryover effect contributed 1.9 percentage points to the 3.6-percent year-on-year PPI growth, while new factors contributed 1.7 percentage points.

The prices of the means of production climbed 4.6 percent year-on-year in September, down from 5.2 percent in August, due to a relatively high base of comparison, according to Sheng.

Of all industrial sectors, producer prices in the sectors of nonmetal mineral products, ferrous metal processing, chemical raw materials and products, and coal exploration and dressing saw lower growth rates than in August.

These industries contributed 0.32 percentage points to the 0.5-percentage point drop in the year-on-year PPI growth in September from August, according to Sheng.

On a monthly basis, the PPI increased 0.6 percent in September, picking up from 0.4 percent in August.

For the first nine months of the year, the PPI climbed 4 percent on average from the same period last year.

Tuesday's data also showed the country's consumer price index, a main gauge of inflation, rose 2.5 percent year-on-year in September, compared with 2.3 percent in August.

China becomes largest recipient of FDI in H1

Date Oct 16 2018 10:54:54 Source:Xinhua

Xinhua | Updated: 2018-10-16 03:02

GENEVA -- China becomes the largest recipient of foreign direct investment (FDI) in the first half of 2018, attracting an estimated $70 billion in inflows, according to the latest investment trends monitor published on Monday by the United Nations Conference on Trade and Development (UNCTAD).

According to the UNCTAD, global FDI fell by 41 percent during the period, to an estimated $470 billion, from $794 billion in the same period in 2017, mainly due to large reparations by the United States parent companies of accumulated foreign earnings from their affiliates abroad following tax reforms

"The big picture of global FDI flows remains gloomy which is a bit different to what we forecast earlier," said James Zhan, director of the UNCTAD's Division on Investment and Enterprise, during a press conference in Geneva.

However, Zhan noted that "the investment flows to China continue to increase despite mounting trade tension, and increasing cost of production".

China emerged as the largest global FDI recipient, with an increase of 6 percent, followed by the UK, lifting inflows to $66 billion, and the United States, $46 billion.

China's September CPI up 2.5%, PPI up 3.6%

Date Oct 16 2018 10:53:07 Source:China Daily

By Xin Zhiming | chinadaily.com.cn | Updated: 2018-10-16 09:42

China's consumer inflation, measured by consumer price index, edged up in September, according to the National Bureau of Statistics on Tuesday.

CPI growth reached 2.5 percent last month, up from 2.3 percent in August. It was the highest level in seven months.

The rise in CPI was mainly caused by food price rises as a result of seasonal factors and natural disasters, the bureau said in a statement.

Producer price index, which gauges factory-gate prices, eased to 3.6 percent in September, down from 4.1 percent in the previous month.

The easing was mainly caused by the relatively high base in last September, the bureau said.

Chinese Listed property developers see slower sales growth in September

Date Oct 15 2018 16:56:07 Source:Xinhua

Source: Xinhua| 2018-10-15 16:29:06|Editor: Liangyu

BEIJING, Oct. 15 (Xinhua) -- Chinese listed property developers' sales grew in September but at a slower pace compared to the same period a year earlier, the China Securities Journal reported Monday.

As of Oct. 14, 30 listed property developers have released their sales performances in September, with a total sales volume reaching 440.1 billion yuan (about 63.6 billion U.S. dollars), up 37 percent year on year, the journal said.

These developers' sales hit 3.5 trillion yuan in the first nine months of 2018, up 38.7 percent from the previous year.

"The sales of China's major property developers in 2018 will break historical records, but the sales growth has slowed down significantly compared to the previous year," said Zhang Dawei, chief analyst with Centaline Property.

Sales of housing market giants Vanke and Country Garden in September declined 6.26 percent and 22.7 percent year on year respectively.

The deceleration of listed property developers' sales growth is a result of China's regulations on the property market, Zhang added.

During previous years, rocketing housing prices, especially in major cities, fueled concerns about asset bubbles. To curb speculation, China has rolled out a spate of control measures, including restrictions on purchases and increasing minimum down payments for mortgages.

Seen as a major prop to the Chinese economy, the property sector has thus remained largely stable amid efforts to defuse financial risks.

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