China

Chinese services sector’s growth slips to lowest in 2.5 yrs in January

Chinese services sector’s growth slips to lowest in 2.5 yrs in JanuaryAdding to growing signs of slowdown in the Chinese economy, a private survey has shown that the growth of services sector of the world's most populous country slipped to its level in almost 2/½ years in January.

The HSBC/Markit Services Purchasing Managers' Index (PMI) slipped from 50.9 in December 2013 to 50.7 in January this year. It was the lowest reading since August 2011.

China’s services growth slips to five-year low in January

China’s services growth slips to five-year low in JanuaryInvestors' concerns about the Chinese economy deepened after official figures showed that services sector of the world's second-largest economy grew at the lowest rate in five years in January this year.

According to fresh data released by the National Bureau of Statistics (NBS), the non-manufacturing Purchasing Managers' Index (PMI) slipped from 54.6 in December 2013 to 53.4 in January this year.

Ronaldinho signs 1-yr contract extension with Brazilian club Atletico Mineiro

RonaldinhoBeijing, Feb 2  : Brazilian football star Ronaldinho has reportedly signed a one-year contract extension with his club Atletico Mineiro.

A World Cup winner with Brazil in 2002, Ronaldinho, who will not play for Atletico Mineiro this weekend because of a suspension for a red card at the Club World Cup, led his club to the Copa Libertadores title last year.

According to the China Daily, negotiations had been underway since Atletico played in FIFA's Club World Cup in December, although the two-time FIFA player of the year said at the time that he was not sure whether he would remain with the club in 2014.

Salary hikes in China likely to hit 8.8pc in 2014

Salary-hikes-in-ChinaBeijing, Jan 27 : Salary hikes in China are reportedly expected to be slightly higher hitting 8.8 percent in 2014, as compared to last year's 8.6 percent, according to a recent survey.

A human resources service provider, 51job. com, found that the highest salary increases occurred in the financial sector, reaching 10.4 percent, followed by real estate (10.1 percent), high tech (9.9 percent) and bio-pharmaceuticals (9.2 percent), the China Daily reports.

China's moon rover faces problem

Jade-RabbitBeijing, Jan 25 : China's moon rover, Jade Rabbit, has experienced a mechanical control problem and scientists are organising repairs.

The problem occurred due to "complicated lunar surface environment", the State Administration of Science, Technology and Industry for National Defence (SASTIND) said Saturday.

According to SASTIND, the rover faced problems when it entered its second dormancy in the morning when the lunar night fell, Xinhua reported.

The lander, another part of the Chang'e-3 probe, also "fell asleep" earlier Friday.

Chinese manufacturing PMI falls to 49.6 in January, HSBC

Chinese manufacturing PMI falls to 49.6 in January, HSBCGlobal financial giant, HSBC has said that the Chinese manufacturing may have contracted in the month of January as indicated by the preliminary reading on its indicator.

HSBC's preliminary reading of the country's purchasing managers' index (PMI) fell to 49.6 during the month of January.  The level of 49.6 is the lowest recording since August of the previous year.  The index measures manufacturing activity in factories and workshops.  The index is carefully followed by economists and indicates the health of the manufacturing sector in the world's second largest economy.

China’s factory sector suffers first contraction in 6 months

China factoryChinese economy suffered a contraction in its factory activity in January as demand for Chinese goods slipped in the domestic as well as overseas markets, a preliminary survey revealed on Thursday.

The flash Markit/HSBC Purchasing Managers' Index (PMI) slipped from 50.5 in December 2013 to 49.6 in January this year, pointing to a pathetic start for the economy in 2014. It was the first time in six month that activity in the country's factory sector contracted.

It may be noted here that a reading of above 50 stands for expansion in a sector, while a reading of below 50 represents contraction.

Chinese economy rose 7.7 percent in 2013

Chinese economy rose 7.7 percent in 2013According to the latest figures released, the Chinese economy rose 7.7 percent in 2013 after a moderate slowdown during the previous three months due to lower investments.

Chinese scholars announce discovery in HIV virus study

Chinese scholars announce discovery in HIV virus studyBeijing, Jan 10 : Chinese researchers have claimed to have made a significant breakthrough in the study of HIV virus, offering hope of developing new medications to treat or even cure the disease.

The researchers said they have made the breakthrough in the structural analysis of the viral infectivity factor (Vif) of the HIV virus, which will help in the development of new medications to treat or even cure the disease, Xinhua news agency reported.

China kindergarteners' fingernail loss sparks panic

China kindergarteners' fingernail loss sparks panicBeijing, Jan 9 : At least 17 children in a kindergarten in China's Hangzhou city have developed a condition in which their fingernails have fallen off, according to the school and health departments.

Li Yuefang, head of the Wenshou Kindergarten, said Thursday the 17 children began to experience the nail problems in December, Xinhua reported.

"No cause has been found," Li said, admitting that 12 kids had been withdrawn from the kindergarten as their parents were worried about their safety.

China’s inflation falls to 2.5 percent in December

China inflationAccording to the latest figures released, China's annual consumer inflation has fallen to 2.5 percent in December, which is its lowest level in seven months. The inflation in the world's second largest economy was recorded at 3 percent during the month of November.

China’s December services PMI slips to lowest in over 2 years

ChinaGrowth of China's services sector slipped to its lowest point in more than two years in December 2013, according to a freshly released private sector survey.

The HSBC-Markit services sector Purchasing Managers' Index (PMI) slipped from 52.5 in November to 50.9 in December. It was the lowest reading since August 2011, while new business expansion in the month under review was the slowest in six months.

HSBC's China chief economist Qu Hongbin said that they expected the stable growth of manufacturing sectors to support the service sector growth.

Walmart removes tainted donkey meat from stores in China

Walmart removes tainted donkey meat from stores in ChinaShanghai, Jan 4 - Walmart over the past few days has removed from its stores in the Chinese city of Jinan several batches of donkey meat, when it was found that it was being sold fraudulently mixed with undeclared meat from other animals.

After a series of DNA tests, it was found that the donkey meat, a normal dish in the eastern province of Shandong, was mixed with flesh from other animals, including fox meat, China Daily said Friday.

Chinese service sector PMI falls to 51.4 in November

Chinese-service-sectorAccording to the latest figures released, China's services sector recorded a slowdown in its growth rate during the month of December.

The National Bureau of Statistics said that, the official purchasing managers' index (PMI) for the non-manufacturing sector fell 54.6 in December compared to 56 in November. Experts have said that the service sector has recorded a slowdown due to a fall in business expectations during the month indicating that the world's second-largest economy might be facing a s slowdown. A rating of above 50 indicates expansion and that of below 50 shows contraction.

China’s manufacturing PMI falls to 51.0 in December

China manufacturingAccording to the latest figures released, China's official manufacturing Purchasing Managers Index fell to the level of 51.0 in December.

The figure of 51.0 in December showed that the sector still expanded but at a much slower pace. The country had recorded manufacturing Purchasing Managers Index at 51.4 in November, according to the data released by the China Federation of Logistics and Purchasing and the National Bureau of Statistics said in a statement on Wednesday.

China's economy to be 'smooth and stable' in 2014: PM

Li-KeqiangBeijing, Dec 30 : China's economy will be on a steady path in 2014, Premier Li Keqiang has said.

During a trip to Tianjin, Keqiang said that China has the conditions in place to maintain the 'smooth running of its economy and the general stability of its financial market' in 2014.

According to China Daily, he added the government would keep a stable fiscal policy in 2014 and maintain liquidity at an appropriate level.

He added that the government would maintain reasonable growth of monetary credit and social financing, and keep the basic stability of the overall price level.

Chinese Premier Li Keqiang promises ‘appropriate liquidity’

Li KeqiangChina will stick to the prudent monetary policy and keep liquidity at an appropriate level to ensure stability of financial markets and the broader economy, Premier Li Keqiang said.

During a recent visit to the northern Chinese city of Tianjin, Li said that the government had the conditions to keep the economy operating in a steady manner as well as maintaining the stability of the financial markets.

Speaking on the topic, he added, "We will stick to the prudent monetary policy, keep appropriate liquidity, realise reasonable growth in credit and total social financing and keep prices largely stable."

China to be world largest economy in 2028

China-Economic-2028Beijing, Dec 27 : China is expected to overtake the US in 2028 to become the world's largest economy while India is predicted to overtake Japan that year for the third place in the same league, a London-based economic and business research group has said.

The Center for Economics and Business Research (CEBR) said Thursday in its annual report that China's gross domestic product (GDP) in dollars would overtake the US in 2028, the China Daily reported Friday.

Beijing may relax birth policy in 2014

birth-policyBeijing, Dec 27 : Beijing has started to examine a draft to relax the more than 30-year-old one-child policy, authorities said Friday.

The standing committee of Beijing Municipal People's Congress is mulling an amendment to the Beijing Municipal Population and Family Planning Regulations, Xinhua reported.

If the amendment is passed, the new policy is expected to come into force in March next year.

If the draft is amended, couples will be allowed to have two children if one of them is an only child. Current policy only allows couples who are both single children to have two children.

Chinese economy to grow 7.6% in 2013

Chinese economy to grow 7.6% in 2013The Chinese government-run Xinhua News Agency said on Wednesday that the Chinese economy is expected to grow at the rate of 7.6 per cent in 2013 compared to 7.7 per cent recorded in the previous year.




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