Economist are aroused by puzzle and anxiety bought by the tremendous drop in import and export in January, which did not even stop declining during the Spring Festival.
Compared with the last year, the General Administration of Customs figures, Read more…
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A State Administration of Foreign Exchange official has said that China’s foreign exchange reserves have decrease for the first time in five years after peaking at $1.9 trillion at the end of September.
Based on the remarks of Cai Qiusheng, head of the foreign debts section under the capital-account management department at an annual meeting of China’s import and export enterprises, China’s forex reserves declined Read more…
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According to the country’s top planning official, the economy is declining fast rather than getting better. But the government will take effective measures to increase domestic demand and create more job opportunities, said Zhang Ping, minister of the National Development and Reform Commission (NDRC).
He said at a press conference Read more…
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Recently a sign of price decline appeared in Shanghai house market, even some luxury apartments in the city centre. Under such a situation, potential buyers decided to wait and see before making the purchasing decision.
Many potential buyers in Shanghai are expecting a further decline after the drop in Shenzhen housing prices, declining by nearly 30 percent in the first half. It is showed by the statistics from China Real Estate Index Academy that in Shanghai house market there is a sales drop of 27.6 percent from last year to 8.85 million sq m while a rise of 7.26 percent in housing price.
Hu Yinghua, a researcher at China Real Estate Index Academy, said that Shanghai’s real estate market was going through a mild revision period with the government attempting to maintain the property price stable with no fierce fluctuation.
Chen Wei, senior directors Read more…
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According to the statistics released by the Customs, the export growth in June dropped by 20.6 percent to $21.35 billion, compared with that of May which witnessed a growth of 28.1 percent. Experts attribute the slowdown to the shrinking demand caused by the global economic slowdown and the increasing pressure on Chinese manufacturers because of yuan appreciation and high raw material cost. Based on this, it is estimated the export slowdown may continue in the next half of the year, forcing the government to reconsider certain export-related policies.
Some insiders said that the declining export growth is attributable to the rising labor and raw material costs, and the government’s tightening policies implemented since last year. And the global economic slowdown is making the situation worse.
The custom figures also show that the trade between China and India is increasing the fastest among China’s major trading partners. The bilateral trade stands at $29 billion, up 69 percent. EU remains China’s largest trade partner, followed by the US. And the imports of primary goods increased fast, which many be caused by the increasing price of the commodities in the international market.
An analyst with HSBC, said that the figures should raise people’s expectations on favorable government policies for export sectors. For example, the textile industry has called for a rise in export tax rebate. And Chinese government has since last years lowered or even removed the export tax rebate of some productions to curb the trade surplus. But some sectors are struggling as a result of a global slowdown, yuan appreciation and rising operating costs, hampering exports anyway.
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Based on the current situation of the housing market, it is estimated that the sales of residential houses is to decline to the level 10 years ago this year. This is attributable to the economic uncertainties as a result of the global slowdown and the tight monetary policy at home, which draw forth homebuyers’ and investor’s wait-and-see attitude.
It is released in the latest report on Shenzhen’s housing market that the average housing prices in May declined 36 percent form the level of last October at 17,350 yuan ($2,540) per sq m to 11,014 yuan per sq m. According to the insider prices are expected to drop another 10 percent as some struggling small and medium-sized real estate developers and speculators are selling properties for cheap to maintain cash flow. And it is reported in some areas housing prices have already dropped 50 percent.
In the first half of this year, the total supply of new residential houses reaches 1.54 million sq m or so, 46 percent of that of the year before. Based on the situation, it is forecasted that another 3.5 million sq m residential housing area will be sold later this year.
It is generally believed that the tightening mortgage policy attributes great to the cool down of the overheating housing market, especially that in the Beijing, Shanghai, Shenzhen, as the housing prices rising has been mainly attribute to speculation.
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