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China Imports YoY
As a result of poor domestic demand and ongoing trade concerns with the United States, imports into China declined by 2.7% in 2019, marking the first annual decline in three years. Machinery and transport equipment accounted for 38% of total imports, led by electrical machinery, apparatus, and appliances 21%, road vehicles 4% telecommunications, and sound recording and reproducing apparatus and equipment 3%, and office machines and automatic data processing machines 3%. Other important categories included: mineral fuels, lubricants, and related materials 17%, petroleum, petroleum products, and related materials 13%, as well as natural and manufactured gas 3%, crude materials, inedible, except fuels 14%, which included metalliferous ores, metal scrap 9%, and chemicals and related products 11%, due to organic chemicals 3%, manufactured miscellaneous items 7%; manufactured goods categorized mostly by material 7%, food and live animals 4%. The European Union (the biggest source of income) accounted for 13% of total imports, with Germany 5% and France 2%, along with South Korea, Taiwan, Japan (8% each), the United States and Australia (both 6%), Brazil 4%, Malaysia, Vietnam, Russia, and Saudi Arabia (3% each), Thailand, Singapore, and Indonesia (2% each).
A higher than expected figure should be seen as positive (bullish) for the CNY while a lower than expected figure should be seen as negative (bearish) for the CNY.
News (CNY)
China Services Activity Logs Softest Growth In 9 Months
China's services activity expanded at the slowest pace in nine months in June on falling export business, survey data from S&P Global showed on Thursday. The Caixin services Purchasing Managers' Index registered 50.6 in June, down from 51.1 in May. The score has remained above the 50.0 threshold for the thirtieth consecutive month and the reading signaled the softest rise since last September.
RTTNews | 2 days ago
China Manufacturing Activity Returns To Growth
China's manufacturing sector returned to growth in June on higher new orders and a renewed rise in production, survey data from S&P Global showed on Tuesday. The Caixin manufacturing Purchasing Managers' Index rose to 50.4 in June from 48.3 in May. A reading above 50.0 indicates expansion. The survey showed that the growth was driven by a renewed expansion in manufacturing output.
RTTNews | 4 days ago
China Holds Loan Prime Rates As Expected
The People's Bank of China left its benchmark interest rate unchanged on Friday after reducing it last month. The central bank maintained its one-year loan prime rate at 3.0 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent.
RTTNews | 15 days ago
