China approved 227 projects worth $246 billion in 2016

Elbert EdwardsJan 14, 2017

China planned to invest 1.2 trillion yuan ($173.57 billion) between 2016 and 2018 in a three-year action plan for the development of information infrastructure. Chinese exports had slumped 16 per cent in 2009. We hope China and the United States, as the two largest economies, can have promising further developments in economic and trade cooperation.

Imports rose 3.1 percent to $168.5 billion, slowing from a 6.7 percent rise the month before.

The yuan's recent slide against the USA dollar to eight-year lows helped lift exports in November, but the outlook for this year is shaky after Trump threatened to label China a currency manipulator and slap punitive tariffs on its goods. That gave it a trade surplus of US$40.8 billion in December, sharply below November's US$44.6 billion.

China has, in fact, been spending hundreds of billions of dollarsrecentlyto buy its own currency and stop it falling too rapidly, rather than devaluing the yuan to boost exports. "Sluggish global demand and anti-globalization sentiment will continue to cloud Asia's export outlook, including China's".

The latest numbers mark a return to a long term downward trend amid tepid global demand. "Mr Trump's trade policy will likely motivate U.S. businesses to move their manufacturing facilities away from China", economists at ANZ said in a research note.

Trump's trade team includes Peter Navarro, an economist who directed a documentary titled: "Death By China: How America lost its manufacturing base;" and Robert Lighthizer, who was part of a Reagan administration trade team that imposed protectionist measures.

But signs are mounting that the red-hot property market may have peaked, meaning China may have less appetite this year for imports of building-related materials. Further upside to economic activity, both in China and overseas, is probably now limited given declines in trend growth.

"It's hard to see conditions becoming much more favorable to Chinese trade than they already are", Julian Evans-Pritchard, an expert on China at Capital Economics, said.

Related Articles:

« Previous article
Next article »

Popular Pages

The Growth Forecast For General Motors Company (NYSE:GM)
The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . F has been the subject of a number of other research reports. 21 analysts projected Price Targets for Ford Motor Co.

Victor Moses makes honest admission about life under Antonio Conte at Chelsea
Gianluigi Donnarumma is a young Italian keeper with a huge potential who plays for Serie A club AC Milan and the Italian National team.

Kim Kardashian's Paris Robbery An Inside Job? Chauffeur Arrested
Others arrested include Kim's chauffeur from that night and his brother, suggesting that the robbery may have been an inside job. Our thoughts are with Kim Kardashian West during what we can only imagine must be an incredibly hard time.

Kirk Gibson elected to College Football Hall of Fame
The announcement was made Monday morning, just hours before Clemson faces his alma mater, Alabama, for the national championship. Former Michigan State wide receiver Kirk Gibson has been elected to the College Football Hall of Fame .

Ford Is Bringing Back the Bronco - and Jobs - to MI
Ford's Joe Hinrichs did reveal that the upcoming 2020 Bronco would be built in the USA , at Ford's Michigan Assembly Plant. There's one (unlikely) ray of hope for offroaders: the T4 Troller , a truck produced by a subsidiary of Ford in Brazil.

A Surprise Asteroid Just Zipped Between the Earth and the Moon
Various telescopes and sky surveys constantly scan Earth's neighborhood to track and characterize nearby asteroids. In comparison to the Earth's nearly-circular orbit, the orbit of this asteroid is far more elliptical.

Former England manager Taylor dies
Taylor became England boss in 1990 but resigned in 1993 after the team failed to qualify for the 1994 World Cup. Graham came into the dressing room afterwards and thanked me for the game, which he thoroughly enjoyed.

Defense Nominee James Mattis Breaks with Trump over Russian Federation
Unceremoniously forced out of the Pentagon by the Obama administration over his opposition to the Iran nuclear deal, Gen. Of great concern is Mattis' ideas on the service of LGBT members.

Kerry: 'More forceful ways' may be needed with North Korea
North Korea has conducted two nuclear tests over the past year - five in total - raising fears that it has made significant nuclear advances.

Oil projects expected to double in 2017
Worldwide spending is expected to increase 2 percent, according to Barclays' survey of 215 global oil and gas companies. Trading shows that the market expects WTI prices to average between $43/b and $71/b in April, EIA said.