China's B2B trade with Belt and Road countries booms -- China's cross-border e-commerce has seen an unprecedented growth under the Belt and Road Initiative. As China-ASEAN cooperation continues developing, digital trade in Southeast Asia has demonstrated huge potential for further growth, According to a report released by dhgate.com on the occasion of the 14th (2017) China-ASEAN Expo. Last year, by volume, China's B2B (business-to-business) trade with the countries along the Belt and Road has boomed. The country’s digital trade with the countries in Eastern Europe accounts for 72 percent of its overall trading volume with 64 countries along the Belt and Road, said the report.
China's entrepreneur confidence index at highest since 2012 -- Chinese entrepreneurs are more confident about the economy in the third quarter of 2017 than in Q2, with an index released by China's central bank reaching the highest since Q1 2012. Based on the survey of over 5,000 industrial companies, the People's Bank of China (PBOC) set the entrepreneur confidence index at 68.7 percent for Q3, 3.3 percentage points higher than Q2 and 17.5 percentage points higher than Q3 2016. The index reflects the views and opinions of Chinese businessmen on the economic climate and business prospects.
5.5 pct of China's labor force work in sharing economy -- Around 5.5 percent of China's labor force work in the rapidly expanding sharing economy, according to a report from the top economic planner on September 18. The market value of the Internet-based sharing economy exceeded 2 trillion yuan (about 305.8 billion U.S. dollars) in 2016, with more than 50 million people working in the sector, said a report released by the National Development and Reform Commission.
Private investment from China in 2017 outpaces 2016 figures -- Private investment from China to Ethiopia in 2017, up to September 5, has reached more than 680 million U.S. dollars, outpacing full 2016 figures. Speaking to Xinhua on September 19, Mekonen Hailu, Ethiopia Investment Communications (EIC) Director said Ethiopia attracted close to 560 million dollars in registered investment capital from private Chinese firms in 2016. He further said private Chinese firms' investment is the single largest foreign direct investment (FDI) source to Ethiopia in 2017 with investment from Indian and Dutch firms following in second and third positions.
Shanghai among world's top 10 financial centers -- Shanghai has been ranked among the world's top 10 financial centers, moving up 7 places to sixth, according to latest research. This is the first time that Shanghai has been included in top 10 since the research's inception in 2007. The study, the 22th Global Financial Centres Index (GFCI 22), published by British consultancy services provider Z/Yen and China Development Instituted researched 108 centers for the edition. Shanghai ranks behind London, New York, Hong Kong, Singapore, and Tokyo. (Source: China Daily)
OECD: GDP to increase 6.8pct in 2017 -- China's economic growth will reach 6.8 percent year-on-year in 2017, although it may moderate next year to 6.6 percent, according to a forecast released on Wednesday by the Organization for Economic Cooperation and Development. Analysts said the growth of the world's second-largest economy remains on track despite weakening indicators for August. In a report analyzing the growth prospects of the world economy, the OECD adjusted its forecast of China's GDP growth this year from 6.6 percent in its previous forecast in June to 6.8 percent, citing its brisk public infrastructure investment. (Source: China Daily)
China remains Israel's fastest growing source of tourists -- China continued to be Israel's fastest growing source of tourists in the first seven months of this year, according to Israel's top tourism official. Over 64,000 Chinese tourists visited Israel from January to July this year, up 66 percent year on year, outpacing the global average of 17 percent year on year, Yariv Levin, Israeli Minister of Tourism said during his first official visit to China. Levin attributed the rapid growth in Chinese tourists to more convenient transportation as there are now direct flights to Israel's commercial hub Tel Aviv from Beijing, Shanghai and Hong Kong.
China's asset management industry slows expansion amid tightened regulation -- China's asset management businesses expanded at a slower rate in the first nine months of the year amid tightened regulation, according to industry data. Assets under management totaled 54.09 trillion yuan (USD8.25 trillion) as of Sept 10, up 4.9 percent from the end of 2016, according to the self-regulated Asset Management Association of China (AMAC) on September 19. In 2016, the annual growth rate of asset management businesses was more than 30 percent. Compared with the end of 2016, the scale of publicly offered funds went up 22.3 percent to 11.2 trillion yuan, while the scale of private investment funds went up 31.2 percent to 10.25 trillion yuan. (Source: China Daily)
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