China's foreign exchange reserves rise in March -- China's foreign exchange reserves edged up 0.27 percent from a month earlier to 3.1428 trillion U.S. dollars at the end of March, the People's Bank of China said on April 8. The increase reversed a slight decline seen in February. Previously, the forex reserves gained for 12 consecutive months between February 2017 and January 2018.
China's fiscal revenue growth stable in Q1 -- China's fiscal revenue rose 13.6 percent year on year in the first quarter of 2018, the Ministry of Finance (MOF) said in a statement on April 9. The stable growth was mainly driven by a faster increase in tax revenue, as businesses posted better profits amid a solid economy, according to the MOF. Tax revenue accounted for 87.7 percent of fiscal revenue during the January-March period, up 2.5 percentage points from the level a year earlier.
Asia Pacific M&A market expected to stay active -- Data recently released by Intralinks Deal Flow Predictor showed that the number of M&A transactions in the Asia Pacific region in the first half of this year is expected to grow 14 percent year on year. M&A transactions are most active in sectors such as power and energy, industry and materials, and in regions including China, India and South Korea, the data showed. The total value of overseas M&A by enterprises in the Chinese mainland and Hong Kong last year stood the second highest ever through dropping by 137 billion U.S. dollars due to the intensification of the supervision over Chinese enterprises' overseas investment by the Chinese government since last year.
ADB predicts China's economy to grow 6.6pct in 2018 -- China's economic growth is expected to reach 6.6 percent this year, the Asian Development Bank (ADB) said in a report released on April 11. In its annual publication Asian Development Outlook (ADO) 2018, the Manila-based bank said China's growth accelerated on strong demand from home and abroad. "Expansion in China should moderate to 6.6 percent in 2018 and 6.4 percent in 2019 as economic policy leans further toward financial stability and a more sustainable growth trajectory," the ADB said.
ADB predicts Hong Kong's economy to grow 3.2 pct in 2018 -- The economy of China's Hong Kong Special Administrative Region will grow 3.2 percent this year, the Asian Development Bank (ADB) forecast on April 11. Though the forecast is slightly lower than the actual growth at 3.8 percent in 2017, but still higher than the actual growth at 2.1 percent in 2016, ADB's chief economist Yasuyuki Sawada said here while delivering the bank's annual publication Asian Development Outlook. The economic growth rate of Hong Kong will be 3 percent in 2019, according to the report.
China is Philippines' largest source of imports in February -- China was the Philippines' largest source of imports in February, comprising 19.9 percent share of the total import for the month, the Philippine Statistics Authority (PSA) said on April 11. In a report, the PSA said import bills from the top 10 countries for imports for February amounted to 6.08 billion U.S. dollars or 78.7 percent share of the total. "China was the country's biggest source of imports with 19.9 percent share in February 2018. Import payments to this country stood at 1.54 billion U.S. dollars, posting an increment of 57.7 percent from 977.17 million U.S. dollars in February 2017," the PSA said.
Shanghai designates 30 platforms for import exhibitions, trade -- Shanghai has designated 30 online or offline platforms for exhibitions and trade of imported goods, functions that are similar to the first China International Import Expo (CIIE) slated for November. The platforms include an import section of the online shopping site Alibaba and the offline Donghao Lansheng "Belt and Road" Import Exhibition Center in National Exhibition and Convention Center, where the CIIE will be held.
Xinjiang sees rise in foreign trade -- Xinjiang Uygur Autonomous Region registered a foreign trade of 3.3 billion US dollars in the first two months of this year, up 24.2 percent year on year. According to the Urumqi Customs, the region's exports in the period hit 2.7 billion U.S. dollars, up by 23.1 percent, while its imports were 560 million U.S. dollars, up by 29.5 percent. Exports were mainly machinery and some labor-intensive products, while imports were mainly agricultural and resource products. Imports of agricultural products grew by 39.8 percent from the same period last year. Agricultural products from the Central Asia are in increasing demand in western China. Xinjiang imported 110 million U.S. dollars' worth of agricultural products from the Central Asia during the first two months this year.
Maritime Silk Road Trade Index in Feb. shows strong demands of countries along routes -- The Maritime Silk Road Trade Index (STI) of February released by Ningbo Shipping Exchange shows strong demands of the countries along the 21st Century Maritime Silk Road. Under the STI, the Import and Export Trade Index closed at 117.13 points, down 18.94 percent from the previous month and up 32.69 percent from the same period of last year. To be specific, the Export Trade Index closed at 123.34 points, down 15.48 percent month on month and up 54.48 percent year on year. The Import Trade Index closed at 109.81 points, down 23.11 percent month on month and also up 11.83 percent year on year.
53 banks included in regular co-op and exchange mechanism for banks along B&R -- The number of the members under the regular cooperation and exchange mechanism for banks along the Belt and Road has reached 53, the yidaiyilu.gov.cn cited the Industrial and Commercial Bank of China (ICBC) as saying. More than 2.5 billion U.S. dollars projects have been mutually recommended through the mechanism, according to the ICBC. In May 2017 during the Belt and Road Forum for International Cooperation in Beijing, ICBC initiated the establishment of the regular cooperation and exchange mechanism for banks along the Belt and Road.
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