Daily News-20190916

 |  Xinhua / China Daily

Today's point

1.Macro:

China's economic data moderates in August

2.Industries:

Thailand becomes world's largest rubber exporter, China as biggest market: ministry

3.Trade:

China's coastal bulk freight index climbs in August

4.Companies:

Chinese enterprises to speed up digital efforts

 

 

Quick view

1. China's economic data moderates in August

A technician works on the production line of a machinery company in Luannan county, Hebei province. [Photo/Xinhua]

China's major economic data continually moderated in August, mainly because of the increasing external headwinds, and more countermeasures are urged to offset the impact and stabilize growth, according to economists.

Industrial output in August rose by 4.4 percent from a year earlier, compared with 4.8 percent in July and 6.3 percent in June, based on data the National Bureau of Statistics released Monday.

The growth rate of retail sales increased by 7.5 percent year-on-year, and the total sales reached 3.39 trillion yuan in August. The growth pace was down from 7.6 percent in July and 9.8 percent in June.

Fixed-asset investment climbed by 5.5 percent in the first eight months, retreating from 5.7 percent in the January-to-July period. That growth rate was 5.8 percent by the end of the first half of this year, the NBS showed.

(source: China Daily)

 

2. Thailand becomes world's largest rubber exporter, China as biggest market: ministry

BANGKOK, Sept. 15 (Xinhua) -- The Thai Commerce Ministry's Department of Trade Negotiations on Sunday said that Thailand has become the world's largest rubber exporter, with China as Thailand's biggest market thanks to its free trade agreements (FTA) with China and many other countries.

Director-general of the DTN Auramon Sapthaweetham said that in 2018, Thailand exported rubber at an estimated over 4.6 billion U.S. dollars, accounting for 1.82 percent of total Thai exports.

"China was Thailand's biggest market, importing Thai rubber at 1.96 billion U.S. dollars," said Auramon, "that is 43 percent of total Thai rubber exports in 2018.

Auramon said Thailand also exports rubber to countries in Southeast Asia, the United States, Japan and South Korea.

She said the achievement in becoming the world's largest rubber export was a result of the 13 free trade agreements with 18 countries as they have played a key role in eliminating import tariffs on rubber with partner countries and provided trade opportunities, boosting the export of Thai rubber products.

(source: Xinhua)

 

3. China's coastal bulk freight index climbs in August

BEIJING, Sept. 15 (Xinhua) -- China's coastal bulk freight market saw an overall increase in demand in August, according to the Shanghai Shipping Exchange (SSE).

The composite index for coastal bulk freight went up by 6.5 percent month on month to 1,040.96 in August, the SSE said.

The index had averaged 1,024.04 since the beginning of 2019, up from an average of 1,149.05 for 2018.

Last month, the sub-index for grain saw the largest jump of 9.2 percent to stand at 846.48, followed by oil products and coal, up 8.7 percent and 7.9 percent, respectively.

The sub-index for crude oil remained flat.

The SSE initiated the index in 2001 under the guidance of the Ministry of Transport to reflect the fluctuation of the Chinese coastal transport market.

(source: Xinhua)

 

4. Chinese enterprises to speed up digital efforts

Chinese enterprises are accelerating efforts to digitalize their businesses and venture into previously unexplored fields to unlock new growth opportunities, a report by global consultancy Accenture said.

The new report said more than two-thirds of the surveyed businesses regard innovations driven by technology as their top priorities in the next two years, with the hope of increasing investment to strengthen their core businesses. Some 54 percent said they are exploring new business growth points.

Nine percent of the interviewed companies have become what Accenture calls "Rotation Champions", generating more than half of their revenue from new areas of business in the past three years, up from 7 percent of companies in that category in the previous year.

(source: China Daily)

 

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