China's Caixin service PMI posts moderate growth -- China's service sector picked up slightly in October, but growth remained weaker than the historical average, a private survey showed on November 3. The Caixin General Services Purchasing Managers' Index (PMI) rose to 51.2 from September's 21-month low of 50.6, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media. The new order sub-index rose modestly because of a combination of firmer underlying client demand and new products. Employment continued to expand at marginal pace, while the prices charged index climbed at the quickest rate since August 2015.
China's goods trade volume up 15.9 pct in Jan-Oct -- China's foreign trade volume rose 15.9 percent year on year to 22.52 trillion yuan (3.39 trillion U.S. dollars) in the first ten months of this year, official data showed on November 8. Exports increased 11.7 percent to 12.41 trillion yuan, while imports surged 21.5 percent to 10.11 trillion yuan, the General Administration of Customs (GAC) said. The trade surplus shrank 17.8 percent to 2.3 trillion yuan in the same period.
China's CPI up 1.9 pct in October -- China's consumer price index (CPI), a main gauge of inflation, rose 1.9 percent year on year in October, the National Bureau of Statistics said on November 9. The pace accelerated from September's 1.6 percent. On a monthly basis, the index was up 0.1 percent, according to the bureau.
China, U.S. sign 9 bln USD business deals -- China and the United States on November 8 signed business deals worth about 9 billion U.S. dollars in Beijing, according to a senior U.S. official. "Today's deals are approximately 9 billion dollars, and much more will come tomorrow," U.S. Secretary of Commerce Wilbur Ross said on afternoon of Nov. 8.
China raises non-state crude import quota by 55 pct -- China's Ministry of Commerce announced on November 8 that the quota for non-state crude oil imports will be raised to 142 million tonnes for 2018, 55 percent higher than that for 2017. The volume is equivalent to around 37 percent of China's crude imports last year. Applicants for the quota shall provide records of crude oil imports for the past two years or qualifications to process imported crude oil, according to MOC rules. The ministry said the quotas will be allocated in batches and the volume could be adjusted in the process.
Chinese bio-industry output to reach 1.5 trillion USD by 2022 -- The output of China's biological industry is expected to reach 10 trillion yuan (1.5 trillion U.S. dollars) in 2022, a report said on November 7. The compound annual growth rate of the bio-industry in China has been over 15 percent since 2011, according to a white paper on the industry jointly released by Tianjin Institute of Industrial Biotechnology and Chengdu Library and Information Center, both affiliated with Chinese Academy of Sciences. In 2016, scale of the industry stood at about 4 trillion yuan. Output of fermented products ranked first in the world, and bio-energy substitutes in China are at the world's forefront.
China's forex reserves rise for 9th straight month -- China's forex reserves rose for the ninth month in a row in October as pressure of capital outflow continued to ease, data from the central bank showed on November 7. Forex reserves had amounted to 3.1092 trillion U.S. dollars by the end of October, up 703 million dollars from a month earlier, according to the People's Bank of China, the central bank. Although slightly below market forecasts, it is the first time the reserves have expanded for so long since June 2014. In an online statement, the State Administration of Foreign Exchange (SAFE) attributed the rise to stable cross-border capital flows and balanced supply-demand in foreign exchange market.
China Internet industry investment posts double-digit growth in Q3 -- China's Internet industry saw double-digit year-on-year growth in investment in the third quarter. Investment in the industry reached 6 billion U.S. dollars in the third quarter, up 22.2 percent from a year earlier, according to a report released by China Academy of Information and Communications Technology. On a quarter-on-quarter basis, however, the number was down 55.6 percent due to lack of large-value investment cases. The number of investment cases reached 429 in the third quarter, up by 75.1 percent from the second quarter, and by 193.8 percent from the same period last year, showing a more active capital market.
China's cloud computing market projected to reach 686.6 bln yuan by 2020 -- China's cloud computing industry will grow by at least 30 percent year on year on average in the coming five years, the latest industry report showed. By 2020, the aggregate market size of the country's cloud computing industry is expected to hit 686.6 billion yuan (about 103.6 billion U.S. dollars), according to the Report of Prospects and Investment Strategy Planning on China Cloud Computing Industry (2017-2022) published by Forward Intelligence Co., Ltd., a special market research institute. The country's cloud computing industry has experienced robust growth since 2010 and its market size reached 178.2 billion yuan in 2016, up 18.8 percent year on year, said the report.
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