Optimas Manufacturing Solutions

General

China has a virtual monopoly on precious minerals
China produces on this moment 93% of the world wide need of precious minerals. These are the minerals used for hybrid, electrical cars, wind turbines and green energy.

China policy is to limit the export of these minerals, not to increase prices but to encourage Western companies to produce these high-tech products in China and in doing so support their own industry.

The Chinese production is concentrated in the Baotou-mines in Chinese Mongolia, which produces 50% of the world production. The rest comes from small mines in the south of China. China produces more than 99% of dysprosium and 95% of neodymium. These metals are crucial in the production of hybrid cars, mobile telephones, big wind turbines (high strength magnets), rockets and computer monitors.

Atomic number and commercial usage
21	Scandium	SC	Stadium lightning
39	Yttrium	Y	Lasers
57	Lanthaan	La	Batteries electric cars
58	Cerium	Ce	Polishing of lenses
59	Praseodymium	Pr	Search lights aeroplanes
60	Neodymium	Nd	Super strong magnets
61	Promethium	Pm	X Ray machines
62	Samarium	Sm	Glass
63	Europlum	Eu	Compact fluorescent lamps
64	Gadolinium	Gd	Neutrolon radiografie
65	Terbium	Tb	Super strong magnets
66	Dysprosium	Dy	Super strong magnets
67	Holmium	Ho	Glass colouring
68	Erbium	Er	Metal alloys
69	Thullium	Tm	Lasers
70	Ytterbium	Yb	Stainless steel

wk 53

China to enhance financial support to foreign-invested businesses
The Chinese government told the nation's financial institutions to step up credit support to foreign-invested businesses and allowed them more access to financing. Foreign-invested companies would be encouraged to take part in the merges and acquisitions of the Chinese enterprises, according to the statement issued after an executive meeting of the State Council, or the Cabinet, chaired by Premier Wen Jiabao.

China's industrial profit up 7.8% in first 11 months
Profits of China's major industrial enterprises in the first 11 months rose 7.8 percent from the same period a year ago, the National Bureau of Statistics (NBS). The growth rate was 2.9 percentage points higher than the corresponding period last year, when the global financial crisis started to weigh on the national economy. Combined profits of major industrial enterprises with annual business revenues exceeding 5 million yuan (732,064 U.S. dollars) was 2.6 trillion yuan from January to November. Profits of the country's power generators almost tripled in the first 11 months year on year, while profits of the chemical fiber sector almost doubled. Combined profits of oil refineries and coking plants totaled 82billion yuan, rebounding from losses of 122.2 billion yuan in the same period last year. Revenues from major businesses of these industrial enterprises rose 7.1 percent year on year to 47.5 trillion yuan in the first 11 months.

Chinese shares gain 80% in 2009
Chinese equities closed slightly higher on December 31.2009, and ended the 2009 trading at the Shanghai market with an annual gain of 80 percent. The smaller Shenzhen market rose 111 percent in 2009. The figures indicate that China's stock market is among the remarkable performance in the world's major emerging economies. Government's timely stimulus package and record bank lending helped drive up the gains which was in contrast with an annual slump of 65 percent in 2008. Statistics showed that more than 1,100 stocks, or 64 percent of the A-share market, doubled in market value in 2009.

 

wk 52

China's GDP per capita to reach $4,000 next year
China's GDP per capita is expected to climb to 4,000 U.S. dollars by the end of next year, according to the 2010 social blue book. The report, Society of China: Analysis and Forecast 2010, said rapid economic growth, decline in the new population and appreciation of the renminbi contributed to the acceleration of the growth rate. GDP per capita exceeded $1,000 in 2003 and jumped to $3,000 in 2008, so it will approach $4,000 next year, achieving the target ahead of time.

China's industrial output to grow 11% this year:
China's industrial output is expected to post an annual 11-percent rise this year, buoyed by the government's stimulus packages. Industrial output development will ensure the 8-percent growth of the country's GDP the government had projected for this year. The industrial output moved into double-digit growth in June, up from the 3.8 percent in the first two months of the year.

Private sector plays greater role in China's economy
The weight of private enterprises in the overall economy is on the rise and that of State-owned enterprises (SOEs) on the decline. The number of private firms rose by 81.4 percent from 2004 to 2008 to reach 3.6 million and SOEs dropped by 20 percent to 143,000. China has made great efforts over the past 30 years to restructure its economy. It has gradually raised the proportion of private enterprises after the market-oriented reform began in the early 1980s. As a result, the private sector has contributed an ever-growing value to the country's GDP and provided most of the jobs. In terms of asset value, SOEs saw their proportion in the nation's total drop by 8.1 percentage points from 2004 to 2008 to 23 percent. In contrast, private enterprises' assets rose by 3.3 percentage points to 12.3 percent.

China imposes anti-dumping measures on EU fasteners
China's Ministry of Commerce (MOC) announced that it was to impose temporary anti-dumping measures against imports of EU carbon steel fasteners. According to the most recent figures, China imported 21.3 thousand tonnes of carbon steel fasteners in the first nine months of last year, taking up 9.74 percent of the Chinese market, said the ministry. Companies will have to pay a deposit to China Customs based on the margins -- ranging from 16.8 percent to 24.6 percent -- between the normal value of the products and the dumping price, according to the ministry. Carbon steel fasteners are widely used in making products like cars, electronic and electrical equipment and machinery. 

 

wk 51

China to levy low tariffs on more than 600 commodities in 2010
China is to impose temporarily low import tariffs on more than 600 commodities next year, the Ministry of Finance (MOF) announced. The targeted commodities comprised resource commodities, including coal, granite, and phosphate ore; key components for optic communications; medical products, including plasma and vaccines; and some advanced production machines. China would expand the scope of the conventional tariffs and increase the margins of preference in 2010 to boost bilateral and multilateral trade with other countries, said an official with the MOF.

Chinese companies may increase overseas M&A deals in 2010
Chinese companies may increase overseas mergers and acquisitions (M&As) by 40 percent next year while outbound deal value may hit a record high of 30 to 35 billion U.S. dollars this year, China Daily reported. The newspaper said, citing Wang Xiaogang, a partner at PricewaterhouseCoopers LLP (PwC) China, that the major risk for Chinese companies in fostering overseas M&A deals is the insufficient risk analysis capabilities, particularly in financial and legal aspects. Domestic and inbound M&A deal volumes in China (including Hong Kong and Macao) in the second half of 2009 are returning to robust 2008 levels, indicating that the impact of the global economic downturn on Chinese M&As seems to be short lived, PwC said in a report. More than 1,800 domestic transactions are likely to be recorded in the second half of this year, for a total of about 3,200 deals for the full year. That compares with 2,000 deals for the second half of 2008, and 3,797 deals for 2008, according to the report. The financial services sector has the highest announced deal value in 2009, followed by the real estate sector. Foreign strategic deal activities, however, continued to decline, with only 400 deals for the whole of this year, representing a 40 percent drop from 2008 levels. Foreign buyers have been sorting out problems in their home markets and this has shifted focus from acquisitions, the report said.

China's foreign trade to grow 15% next year:
China's foreign trade is projected to grow 15 percent next year, according to a report released by the China Institute for WTO Studies. The report forecasts imports to increase by 15 percent and exports up 13 percent. Net exports would contribute 0.3 percent to China's GDP growth next year, compared with a minus 4.4 percent this year as predicted by the World Bank in a recent report. In the first 11 months this year, China's imports and exports totaled 1.96 trillion U.S. dollars, down 17.5 percent compared with the corresponding period last year, according to the General Administration of Customs. Exports dropped 1.2 percent year on year in November, but were up 2.6 percent from October, the fifth consecutive monthly increase. And imports rose 26.7 percent from year on year.  

wk 50

China's industrial output up 19.2% in November
China's industrial output growth accelerated to 19.2 percent in November year on year, following a 16.1-percent increase in October. The figure increased 10.3 percent year on year over first 11 months this year, 0.9 percentage points higher than that of the first 10 months. Production of heavy industries was up 22.2 percent in November, and that for the light industries rose 12.6 percent.

China's imports, exports up 9.8% in November
China's imports and exports rose 9.8 percent in November year on year, ending a 12-month decline, to stand at 208.2 billion U.S. dollars. The trade surplus was 177.96 billion dollars in the January-November period, down 30.6 percent from a year earlier. Exports stood at 113.65 billion dollars in November, down 1.2 percent from a year earlier, but were up 2.6 percent from October for the fifth consecutive monthly increase. Imports rose 26.7 percent in November to 94.6 billion dollars. From January to November, the country's imports and exports totaled 1.96 trillion dollars, down 17.5 percent compared with the corresponding period last year. Imports for the first 11 months were 893.02 billion dollars, down 15.8 percent year on year; exports dropped 18.8 percent to 1.07 trillion dollars.

The EU remained China's biggest trading partner, though bilateral trade declined 17 percent to 326.27 billion dollars in value in the first 11 months; the United States was second with trade at 266.54 billion dollars, down 13.4 percent; Japan followed with trade down 17.4 percent to 203.33 billion dollars.

U.S. companies find an oasis of profit in China
Many U.S. companies hit hard around the world by the global economic downturn have reported profits from their dealings in China, according to a survey by the American Chamber of Commerce in Shanghai. The chamber's China Business Report 2009, which was released yesterday, shows most corporate members saw a growth in revenue and profit in China and the report ranked the nation a top investment destination for 2010. Most respondents were positive about doing business in China. More than 90 percent said they were "optimistic" or "slightly optimistic" about the five-year outlook. That compared to 81 percent in 2008. 82 percent of survey respondents expected even more revenue from China operations in 2010.

wk 49

China manufacturing grows for ninth month
China's manufacturing sector continued to grow for the ninth straight month in November, according to a survey by the China Federation of Logistics and Purchasing (CFLP). The Purchasing Managers' Index (PMI) of China's manufacturing sector stood at 55.2 percent in November, unchanged from the previous month.  It was the ninth straight month that the PMI reading stayed above 50. A reading of above 50 suggests expansion, while one below 50 indicates contraction. The PMI includes a package of indices that measure economic performance.

China's industrial profits down 3.4% in first 10 months 
China's industrial profit in 22 provinces and regions across the country declined 3.4 percent year on year in the first 10 months, but the rate of decline was slowing, figures show. A statement posted on the website of the National Bureau of Statistics (NBS) said industrial profits reached 1.79 trillion yuan (261.6 billion U.S. dollars), but the rate of decline was 5.7 percentage points lower than that for the first nine months. Main business revenue in the 22 provinces and regions was 32.48trillion yuan for the same period, up 5 percent year on year, and 1.6 percentage points higher than in the first nine months.

From January to October, industrial profits were up for manufacturers of rubber products by 61 percent, chemical fibres by 143.8 percent, and transport equipment by 33.7 percent. Manufacturing profits also rose 28.4 percent in the food sector,19.1 percent in pharmaceuticals, and 24.2 percent in plastics. Meanwhile, profits were down for oil production by 65.5 percent, steel making by 53.7 percent, and electronics by 23.9 percent.

China opposes EU proposal extending anti-dumping duties on shoes
The Chinese government and business groups are strongly dissatisfied with a European Commission proposal to extend dumping duties on leather shoes from China by another 15 months. The EU's executive commission had proposed the extension of duties up to 16.5 percent on leather shoe imports from China. China hoped the EU member nations would vote against the extension.

 

wk 48

China to maintain macroeconomic policy stance next year
China will continue the proactive fiscal policy and moderately easy monetary policy next year, the Political Bureau of the Communist Party of China (CPC) Central Committee agreed. More efforts would be made to improve the quality and efficiency of economic growth, to promote the transformation of the economic development pattern and structural adjustments. The Political Bureau vowed to enhance the focus and flexibility of economic policy in the following year according to new situations. It would also further implement and enrich the economic stimulus package to make the economy grow in a more stable, balanced and sustainable way.

Data of China's major commodity imports in October
Coal imports jumped 220 percent year on year to 11.1 million tonnes in October. For the first 10 months, China imported 96.87 million tonnes, 170 percent higher compared with the same period last year. China imported 169,374 tonnes of refined copper in October, up 31 percent from a year ago. The first 10 months saw total imports of refined copper at 2.75 million tonnes, up 148.97 percent year on year. Crude oil imports climbed 20 percent from a year ago in October to 19.3 million tonnes. The figure for the first 10 months stood at 165 million tonnes, up 9.4 percent from a year ago.

European Union continued to be the largest trade partner with China and the country's largest export destination, with bilateral trade totaling 292.42 billion U.S. dollars in the first 10 months, down 18.7 percent from a year earlier. The United States was the second largest trade partner with bilateral trade down 14.9 percent from January to October to 239.36 billion U.S. dollars.

RMB rate fine-tuning is possible
Chinese Vice-Foreign Minister Zhang Zhijun said the RMB rate's flexibility may widen, echoing the nation's central bank. The announcement by Vice-Foreign Minister Zhang Zhijun comes after the People's Bank of China, which has the power to oversee the yuan and financial institutions, said it was in the process of reforming the exchange rate system. China is also starting to receive more international pressure to let its currency appreciate. The nation adopted the policy of loosely pegging the RMB to the U.S. dollar since the financial recession began.

wk 47

China's economy to expand 9.4% in 2010, report forecasts
China's economy is forecast to grow more than 9 percent next year on the growth of domestic consumption and improving exports, said a report released Friday by the Beijing-based Renmin University of China. The country's retail sales are predicted to increase 18.2 percent year on year in 2010, boosted by domestic consumption and income growth, according to the report.

China's FDI up for third consecutive month in October
China's foreign direct investment (FDI) saw a third consecutive monthly increase in October, up 5.7 percent year on year. In October, China attracted 7.1 billion U.S. dollars in FDI, compared with more than 6.7 billion U.S. dollars in October 2008. China has approved the establishment 18,163 overseas-funded enterprises in the first 10 months this year, down 20 percent from the same period last year. It approved 1,815 such enterprises in October.

Profits of China's central SOEs more than doubled in Oct
Profits of China's state-owned enterprises (SOEs) administered by the central government more than doubled in October from a year ago after months of declines. The 132 central SOEs reaped a profit of 79.5 billion yuan (11.64 billion U.S. dollars) in October, up 151 percent year on year. In October, revenues surged by 22 percent from a year ago to nearly 1.16 trillion yuan. Their profits during Jan-Oct was 633.8 billion yuan, while revenues amounted to 9.83 trillion yuan during the same period.

wk 46

China's industrial output up 16.1% in Oct.
China's industrial output rose 16.1 percent in October from a year earlier. The increase rate was 7.9 percentage points higher from a year earlier and 2.2 percentage points higher than September, according to figures released by the National Bureau of Statistics (NBS). Industrial output of the world's third largest economy increased 9.4 percent year on year over first 10 months this year. Although the growth rate was 5 percentage points lower than that of a year earlier, it was 0.7 percentage points higher than that of the first nine months, said the NBS.

China's imports, exports drop 10.7% in Oct
China's imports and exports fell 10.7 percent in October year on year, but monthly exports exceeded 100 billion U.S. dollars for a fourth straight month this year. Imports stood at 86.8 billion U.S. dollars for October, a decrease of 6.4 percent compared with the same month last year, while exports dropped 13.8 percent to 110.8 billion U.S. dollars.

From January to October, the country's imports and exports totaled 1.76 trillion U.S. dollars, down 19.9 percent compared with the same period last year. The EU was China's biggest trading partner for this period, though bilateral trade declined 18.7 percent to 292.42 billion U.S. dollars in value; the U.S. was second with bilateral trade at 239.36 billion U.S. dollars, down 14.9 percent; Japan followed with bilateral trade down 19.3 percent at 182.34 billion U.S. dollars.

BMW expands investment in China
BMW and its Chinese partner Brilliance Auto Group have decided to build a new plant with an investment of at least 5 billion yuan (735 million U.S. dollars) in China to expand production capacity in the world's largest auto market. The German carmaker signed an agreement with Brilliance Auto Group, agreeing to raise the annual output of their joint-venture, BMW Brilliance Automotive, based in Shenyang, northeastern Liaoning Province, from 30,000 to 75,000 units by the end of 2010. The joint venture will start building the new plant in the Shenyang Economy and Technology Development Zone in 2010, eyeing an annual production capacity of 100,000 units before 2017.

China to boost mergers in steel sector
China will encourage mergers and restructuring in the steel sector to help forge three to five producers with sharp international competitiveness. A total of six to seven leading steel producers will be encouraged to implement strategic mergers and restructuring across the country, according to the Guideline to Promote Steel Sector Mergers and Restructuring.

wk 44

China's industrial output expects faster growth in Q4
China's industrial output growth would continue to accelerate in the fourth quarter, Minister of Industry and Information Technology Li Yizhong said. China's industrial production had "surmounted the most difficult time" and was expected to grow 15 to 16 percent year on year in the fourth quarter, hopeful to make a full year growth rate of 10 to 11 percent. Industrial output in the third quarter registered a 12.4 percent year-on-year growth rate, according to the National Bureau of Statistics (NBS) on October 22. The figure for the first nine months was up 8.7 percent from a year earlier, 6.5 percentage points lower than that of a year ago, the NBS said.

China's economy expected to grow faster in 2009: World Bank report
The World Bank raised China's economic growth forecast for this year and projected sustainable and robust growth in 2010. In June, the bank raised its forecast of China's economic growth rate in 2009 to 7.2 percent from its earlier forecast of 6.5 percent. China registered an economic growth rate of 8.9 percent in the third quarter and the figure for the first nine months stood at 7.7 percent, according to the National bureau of Statistics in October. The report said China would see robust growth continue in 2010, and rising exports would help drive growth.  

U.S. requests WTO panel to rule on China raw materials restrictions
The United States requested the World Trade Organization (WTO) to establish a dispute settlement panel to rule on China's export restraints on raw materials. The materials at issue are: bauxite, coke, fluorspar, magnesium, manganese, silicon metal, silicon carbide, yellow phosphorus, and zinc, key inputs for numerous downstream products in the steel, aluminum, and chemical sectors across the globe. The U.S. and the European Union requested formal consultations with China at the WTO on June 23, 2009, and Mexico filed its consultations request on August 21, 2009. But the Chinese Ministry of Commerce defended China's export policies, saying they are consistent with WTO rules. According to the procedures, China, the U.S., the EU and Mexico have 60 days to try to resolve their dispute through consultations. If consultations fail, the U.S., the EU and Mexico could ask for a WTO panel to investigate and rule on this dispute.

China to launch anti-dumping, anti-subsidy probe into U.S. autos
China's Ministry of Commerce (MOC) said last Friday it had launched anti-dumping, anti-subsidy investigations into U.S.-made off-road vehicles and sedans with engine displacements of 2.0 liters and above. The decision was made after the China Association of Automobile Manufacturers (CAAM) filed an application for the investigations. The investigations would commonly be ended before Nov. 6, 2010, but might be extended by another year if necessary. The announcement came one day after the U.S. Commerce Department set preliminary anti-dumping duties on imports of Chinese-made oil pipes, which was the biggest U.S. trade action against China.

 

wk 43

China's GDP grows 7.7% in first nine months

More Economic Data in Sept.
New Loans	Forex Reserve	Imports and Exports
516.7 billion yuan	$2.27 trillion	$218.94 billion
FDI	Housing Prices	Power Consumption
$7.9 billion	2.80%	10.24%

China has no inflation problem but worries about inflation expectations: official
Although China has no inflation problem, the government is still highly concerned about inflation expectations, Li Xiaochao, spokesman of the National Bureau of Statistics, said Thursday. China's consumer price index (CPI), a main gauge of inflation, dipped 1.1 percent year on year in the first nine months, according to NBS statistics released Thursday. The September CPI was up 0.4 percent over the previous month. A key point of China's macro-regulation for the rest of the year would be to balance the tasks of ensuring a stable and relatively fast economic growth, adjusting economic structure and managing inflation expectations, according to a statement released after a State Council executive meeting, which was chaired by Premier Wen Jiabao, Wednesday.

Trade fair sends strong signal of export upturn
An important barometer of China's foreign trade, the Canton Fair reported late Tuesday a strong rebound in foreign purchase and buyers compared with the last session in April, an encouraging sign of the country's export amid the continuing global recession. The first phase of the biannual 106th China Import and Export Fair from October 15 to 19 saw an export volume of about 15.6 billion U.S. dollars. That's up by 19.6 percent over the last session. More than 90,000 buyers participated in the fair, an increase of 11.4 percent against the last session. Those from the United States and Europe grew by 18 percent and 38 percent despite the shrinking markets in the two regions.

 

wk 42

Chinese entrepreneurs have stronger confidence in Q3
China's entrepreneur expectation index rose to 120.1 in the third quarter, up 9.9 points from the previous quarter, said the National Bureau of Statistics on Tuesday. The index, a gauge of the understanding, views and projections of entrepreneurs, was 19 points higher than that of the first quarter. The index ranges from zero to 200. A reading above 100 shows the entrepreneurs are optimistic about the markets. Entrepreneurs have shown growing confidence in most sectors. The confidence of businessmen in the manufacturing sector grew 9.9points to 115.1 compared with the second quarter.

China's imports, exports drop 10.1% in September
China's foreign trade continued to fall in September, but the rate of decline slowed sharply, the General Administration of Customs announced Wednesday. The total value of imports and exports for September was 218.94 billion U.S. dollars, down 10.1 percent from the same month last year, but an increase of 14.2 percent from August. Imports stood at 103.01 billion U.S. dollars, down by 3.5 percent from September last year and up 17 percent from August. Exports in September dropped 15.2 percent from the same month last year to 115.93 billion U.S. dollars, but their value rose 11.8 percent from August.

For the first three quarters, China's foreign trade was down by20.9 percent from the same period last year to 1.56 trillion U.S. dollars. Exports dropped by 21.3 percent from the same period last year to 846.65 billion U.S. dollars. Imports were 711.17 billion U.S. dollars, representing a decrease of 20.4 percent from the same period last year. The total trade surplus was 135.48 billion U.S. dollars from January to September, a decrease of 26 percent from the same period last year.

In the first three quarters, the European Union remained China's leading trade partner, with a total trade volume of 260.05 billion U.S. dollars, a decrease of 19.4 percent over the same period last year. The trade volume between China and the United States, China's second largest trade partner, dropped 15.8 percent from a year earlier to 211.88 billion U.S. dollars.

GM president: China becomes GM's largest market this year
President and CEO of General Motors Frederick A. Henderson said here Tuesday that China has surpassed U.S. to be the largest market for the automobile giant. "Interestingly, if we look at China' s market this year, we found the market has surpassed U.S market in size for GM," he said during his first visit to China after he became the CEO in March. GM and its joint ventures in the Chinese mainland sold 181,148 vehicles in China in September, an all-time monthly record. For the first nine months in 2009, GM's sales in China totaled 1,292,549 units, up 55.6 percent than the previous year and a new record for the same period historically.

 

wk 39 2009

China's 2009 GDP growth revised up to 8.2%
The Asian Development Bank said Tuesday it had revised its forecast on China's year-on-year economic growth to 8.2 percent for 2009. The new projection for this year is higher than the bank's previous forecast of 7 percent on March 31 and above the goal of 8 percent set by the central government. The government rolled out a 4-trillion-yuan (585 billion U.S. dollars) stimulus package in November last year, aiming to boost economic growth slowed by a slump in exports amid the global economic downturn. It also implemented a moderately relaxed, proactive policy to help revive the economy. 

China's foreign exchange reserves rank first in world
China's foreign exchange reserves rose from 1,577 billion U.S. dollars in 1978 to 1, 950 billion dollars in 2008 to rank first in the world. To the same token, China's per-capital annual income of 62.5 dollars in 1978 reached 9,863 dollars in the urban areas, showing an increase of over 100 percent.

EU impose duties on Chinese seamless steel pipe
The European Union on Thursday decided to slap five-year duties on steel pipe imported from China on alleged dumping charges. The long-term tariffs were up to 39.2 percent as a punishment to Chinese exporters for allegedly selling seamless pipe and tubes below cost in the EU, the European Commission said. The decision was based on a vote at the end of July by trade officials and experts from EU member states.

 

wk 38 2009

U.S. tire tariff against G20 commitments
U.S. President Barack Obama decided to impose a tariff on tires imported from China on Sept. 11, which will begin with a 35-percent duty the first year and decrease to 30 percent the second year and 25 percent the third year on passenger vehicle and light-truck tires from China. China said the decision to impose special protectionist tariffs on tire imports from is grave trade protectionism and goes against its commitments made at the Group of 20 summit in Pittsburgh.

China launches anti-dumping probe into U.S. auto, chicken products
China launched anti-dumping and anti-subsidies investigations into some automobile and chicken products originally produced in the United States, the Ministry of Commerce (MOC) announced on Sept. 13th. The ministry said the investigation was in accordance with the World Trade Organization rules and China's laws. The MOC announced, China always firmly opposes protectionism. The country hoped all countries worked together to promote a quick recovery of the world economy.  

China's imports, exports drop 20.6% in August
China's foreign trade figures continued to fall in August, but their downward rate slowed, the General Administration of Customs (GAOC) said on Sept. 11.

The total value of imports and exports for August was 191.7 billion U.S. dollars, a decrease of 20.6% compared with the same month last year, but a 2.3% increase from July. Imports stood at 88 billion U.S. dollars, a decrease of 17% compared with the same month last year, an increase of 3.4% from July. Exports dropped 23.4% from a year earlier to 103.7 billion U.S. dollars but their value rose 1% from July.

From January to August, the country's imports and exports totalled 1.34 trillion U.S. dollars, down 22.4% compared with the same period last year. Imports dropped 22.7% from a year earlier to 607.92 billion yuan, while exports declined 22.2% to 730.74 billion U.S. dollars. Trade surplus stood at 122.82 billion U.S. dollars in the first eight months, representing a decrease of 19% over the same period last year.

The European Union remained the leading trade partner of China, with a total trade value of 224.69 billion U.S. dollars in the first eight months, a decrease of 20.7% over the same period last year. Following the EU was the United States. Its trade value with China dropped 16.4% from a year earlier to 183.79 billion U.S. dollars.

China's industrial output up 12.3% in August
China's industrial output accelerated 12.3% in August from a year earlier, after gaining 10.8% in July, the National Bureau of Statistics said.

The August growth rate was 0.5 percentage points lower than the growth figure for the same month last year, but 1.5 percentage points up from July. Compared with previous forecasts the growth rate of industrial output would be about 11.8%, the new figure is beyond most analysts' expectations.

The output of light industry, including the garment, textile and food sectors among others, rose 9.8% in August over the same month last year. The output of heavy industry increased 13.2% from a year earlier. Power generation in August rose 9.3% over the same month in 2008 to hit 344.3 billion kwh. The output of coal and crude oil respectively rose 14.6% and 1.6 percent compared with August 2008.