E. China Anhui Province’s trade with B&R countries up 21.6pct in Jan.-Feb. -- East China’s Anhui Province saw its foreign trade with countries along the Belt and Road routes stood at 16 billion yuan in the first two months of 2018, up 21.6 percent year on year, according to the local customs authorities. To be specific, the province’s imports from those countries increased 35.5 percent year on year to stand at 4.41 billion yuan, while its exports to those countries rose 17 percent year on year to be 11.59 billion yuan. In the first two months of the year, the province’s exports of mechanical and electrical products to the Belt & Road countries stood at 7.19 billion yuan, up 8.7 percent, accounting for 62 percent of its exports to those countries.
E. China Shandong Province export to B&R countries in Jan.-Feb. up 13.3pct -- East China’s Shandong Province saw its exports to the countries and regions along the Belt and Road routes increased 13.3 percent year on year in the first two months of the year, accounting for 26.3 percent of the province’s exports, according to Department of Commerce of Shandong Province. During the period, the province’s exports to the traditional markets including the USA, the EU and the Republic of Korea increased 15.8 percent, 9.4 percent and 2.2 percent year on year, respectively. In 2017, Shandong Province actively participated in the construction of the Belt and Road and actually invested 10.06 billion yuan in countries along the Belt and Road routes, representing an increase of 81.7 percent.
C. China Hubei Province’s trade with B&R countries up 35pct in Jan.-Feb. -- Central China’s Hubei Province saw its foreign trade with countries along the Belt and Road routes stood at 13.13 billion yuan in the first two months of 2018, up 35 percent year on year, according to the Ministry of Commerce. To be specific, the province’s imports from those countries increased 12.9 percent year on year to stand at 2.39 billion yuan, while its exports to those countries jumped 41.1 percent year on year to be 10.74 billion yuan. In January-February 2018, the province’s total import and export value was 46.23 billion yuan, an increase of 13.2 percent year on year.
Chinese state firms report solid profit growth -- Chinese state-owned enterprises (SOEs) reported solid profit growth in the first two months of 2018 as the economy kicked off the year with better-than-expected performance, official data showed on March 28. Combined SOE profits rose 25.3 percent year on year to 367.3 billion yuan (around 58.5 billion U.S. dollars) for the January-February period, the Ministry of Finance said. The growth was higher than the 23.5-percent increase seen in 2017. SOE business revenue totaled 8.3 trillion yuan during the period, up 11.2 percent from a year earlier. Operating costs went up 10.6 percent to 8.1 trillion yuan.
China's service trade deficit rises in February -- China's service trade deficit continued to rise for the fourth month in February, data from the State Administration of Foreign Exchange (SAFE) showed on March 27. The deficit stood at 27.3 billion U.S. dollars last month, up from 21.8 billion U.S. dollars in January, the SAFE data showed. Income from trade in services was about 15.9 billion U.S. dollars, while expenditures totaled around 43.2 billion U.S. dollars.
China industrial profits up 16.1 pct in Jan.- Feb. -- China's major industrial firms saw stronger profit growth in the first two months of this year, the National Bureau of Statistics (NBS) said on March 27. Industrial companies respectively with annual revenue of more than 20 million yuan (about 3.2 million U.S. dollars) reported profits of 969 billion yuan in the first two months, a 16.1-percent increase from a year earlier, the NBS said in a statement.
Hong Kong exports up 1.7 pct in February -- Hong Kong saw the value of total exports of goods in February up 1.7 percent from the same period last year and the value of imports of goods down 3.2 percent, statistics showed on March 27. As the trade flows in January and February of each year tend to show considerable volatilities due to difference in timing of the Lunar New Year holidays, it is useful to analyze the trade figures of the two months together, according to the Census and Statistics Departments of the government of China's Hong Kong Special Administrative Region.
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