China's manufacturing PMI edges up in January-- The purchasing managers' index (PMI) for China's manufacturing sector came in at 49.5 this month, slightly up from 49.4 in December, the National Bureau of Statistics (NBS) said on January 31. A reading above 50 indicates expansion, while a reading below reflects contraction.
China's non-manufacturing sector expands faster in January -- China's non-manufacturing sector picked up pace in January, an encouraging sign for the government's push for a services-driven economy.The non-manufacturing purchasing managers' index (PMI) came in at 54.7 this month, up from 53.8 in December, the National Bureau of Statistics said in a statement on January 31.
China's industrial profits up 10.3 pct in 2018 -- Profits of China's major industrial firms grew 10.3 percent year on year in 2018, but lower than the 21-percent expansion for 2017, the National Bureau of Statistics (NBS) said on January 28. Combined profits at industrial firms with annual revenue of more than 20 million yuan (2.96 million U.S. dollars) reached 6.64 trillion yuan last year.
China's power use growth notches 6-year high in 2018-- China's electricity consumption, a key barometer of economic activity, rose to 6.84 trillion kilowatt hours in 2018, hitting a six-year high of 8.5 percent year on year, official data showed on January 29. Electricity used by industrial sector climbed 7.2 percent year on year to 4.72 trillion kilowatt hours, with power use of high-tech and equipment manufacturing jumping 9.5 percent from the previous year, data from the CEC showed.
Guangdong province continues to lead China in GDP-- South China's Guangdong province recorded year-on-year economic growth of 6.8 percent, growing to 9.73 trillion yuan (about 1.4 trillion U.S.dollars) in 2018.The province leads the country in provincial GDP volume, with a figure exceeding Australia's 2017 GDP, the world's 13th-largest economy.
Zhejiang reports 7.1-pct GDP growth, digital economy a highlight -- East China's Zhejiang Province recorded a GDP growth of 7.1 percent in 2018, with the digital economy as an important driving force.The per capita disposable income of urban and rural residents has grown by 8.4 percent and 9.4 percent, respectively, according to the government work report delivered at the ongoing annual session of the provincial people's congress.
Shanghai's per capita GDP reaches 20,000 USD -- Shanghai mayor Ying Yong said on January 27 that the city's gross domestic product (GDP) per capita exceeded 20,000 U.S. dollars in 2018, while the per capita disposable income rose 8.8 percent.The overall economic growth of the city was at 6.6 percent last year, Ying said while delivering a government work report at the annual session of the municipal legislature. Shanghai's GDP totaled 3.27 trillion yuan (480 billion dollars) last year.
Beijing's GDP exceeds 3 trln yuan in 2018 -- Beijing reported GDP of over 3 trillion yuan (446.6 billion U.S. dollars) in 2018, authorities said on January 30.According to the municipal statistics bureau, Beijing attained GDP of 3.03 trillion yuan last year, up 6.6 percent.
Guangdong foreign trade volume hits historic high in 2018-- Foreign trade in south China's Guangdong Province rose 5.1 percent year-on-year to a historic high of 7.16 trillion yuan (about 1.05 trillion U.S. dollars) in 2018, according to figures released by Guangdong Sub-Administration of China Customs. As China's major foreign trade hub, Guangdong Province's foreign trade volume has ranked first in the country for 33 years in a row, according to the Guangdong sub-administration.
Property loan growth slows in China in 2018 -- China's outstanding yuan-denominated loans to the property sector grew at a slower pace in 2018 as government curbs continued, data from the central bank showed.By the end of last year, outstanding loans from financial institutions to the sector reached 38.7 trillion yuan (about 5.7 trillion U.S. dollars), up 20 percent year on year, according to a report from the People's Bank of China.The growth was down 0.9 percentage points from a year earlier, the report showed.
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