Category: china
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China’s Central Bank Sets Renminbi Exchange Rates Against Major Currencies on April 20th, 2023
On April 20th, 2023, the People’s Bank of China authorized the China Foreign Exchange Trading Center to release the central parity rate of the Renminbi against several foreign currencies in the interbank foreign exchange market. The central parity rate for the US dollar against the Renminbi was set at 6.8987, and other exchange rates included…
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China’s National Bureau of Statistics Releases Economic Data for Q1 2023
Overall, while the Chinese economy experienced a slowdown in 2022, the first quarter of 2023 shows signs of recovery. However, the growth rate of certain indicators, such as industrial enterprises and investment in fixed assets, has slowed down, while online retail sales continue to grow steadily. http://www.stats.gov.cn/english/PressRelease/202304/t20230418_1938715.html
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Chinese Commercial Residential Building Sales Prices Show Overall Growth in March 2023, with Regional Variations and Mixed Monthly Changes
http://www.stats.gov.cn/english/PressRelease/202304/t20230415_1938657.html
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China Issues Draft Guidelines on Financing Leasing Housing Enterprises with Compliance and Diversified Channels for Comments
The guidelines for commercial banks in dealing with leasing housing operation and management compliance involve conducting thorough due diligence investigations on the legality and compliance of leasing housing enterprises, including factors such as rental levels, occupancy rates, professional capabilities, financial status, and prudent management. Commercial banks are encouraged to design loan terms, interest rates, and…
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Premier Li Qiang Presides Over State Council Meeting on Employment Policy and Commercial Encryption Management
On April 14th, Premier Li Qiang presided over an executive meeting of the State Council in Beijing. The meeting centered on implementing the recent important speeches by General Secretary Xi Jinping on building a strong country and national rejuvenation. One of the main topics of discussion was employment policy measures. The meeting highlighted the importance…
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China’s Price Changes for Key Means of Production in April 2023: Impact on Industries and Sectors
In early April 2023, the China Economic Monitoring and Analysis Center released data on price changes for 50 important means of production in 9 categories within the national circulation field. Out of these, 20 products saw an increase in prices, while 28 products experienced a decrease, and 2 remained unchanged compared to late March 2023.…
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China’s Q1 2023 Financial Statistics Show Steady Growth Amidst Challenges
Summary of Financial Statistics Report for Q1 2023 Overall, China’s financial statistics for Q1 2023 showed steady growth in key indicators, with increased money supply, loans, and deposits, stable exchange rate and foreign exchange reserves, and positive growth in the real economy. The government continued to implement supportive measures while addressing challenges in the domestic…
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China’s Producer Price Index for March 2023 Shows Decline in Industrial Prices, Impacting Manufacturers and Suppliers
In March 2023, China’s Producer Price Index (PPI) for manufactured goods decreased by 2.5 percent year-on-year and remained unchanged month-on-month. The purchasing price of industrial products also decreased by 1.8 percent year-on-year and was unchanged month-on-month. The price of means of production, including mining, raw materials, and processing, decreased, affecting the overall level of the…
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China’s March 2023 Consumer Price Index (CPI) Shows Year-on-Year Increase, Month-on-Month Decrease with Fluctuating Food Prices
In March 2023, the national Consumer Price Index (CPI) in China increased by 0.7 percent year-on-year. The urban CPI increased by 0.7 percent, and the rural CPI increased by 0.6 percent. Food prices increased by 2.4 percent, while non-food prices increased by 0.3 percent. Consumer goods prices increased by 0.5 percent, and service prices increased…
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Chinese Entrepreneurs’ Economic Sentiment Moderately Improves in Q1 2023: Survey Results
Summary of the Q1 2023 Entrepreneur Survey Report by the Survey and Analysis Division of the People’s Bank of China: The raw material purchase price perception index was 58.0%, which decreased by 0.5 percentage points from the previous quarter and 9.1 percentage points compared to the same period last year. Among the entrepreneurs surveyed, 24.2%…
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CEMAC Reports Price Changes in China’s Key Means of Production: Ferrous Metals Decline, Non-Metallic Building Materials Rise
China Economic Monitoring and Analysis Center (CEMAC) is an organization that monitors and analyzes the market prices of important means of production in China. In late March 2023, CEMAC observed changes in prices of 50 kinds of products in 9 categories that are widely used in the national circulation field. Among the observed products, 10…