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keith chen

Canada

Designer (Journalism)

Member since April 29, 2013


  • Xinda Management Group Shenzhen China

    Communication, Communication Design

    http://kmbrlynchu.buzznet.com/user/journal/17323363/xinda-management-group-shenzhen-china/

    China's economy is expected to rebound slightly in the second quarter due to its policy easing, new leadership, gains on stock markets and better global economic climate, according to a report from the official China Securities Journal.

    In the second quarter, the economy is forecast to grow at 8%, with consumer price index inflation growing at about 2.3%, the newspaper said, citing China's State Information Centre (SIC).

    China's economic growth unexpectedly stumbled in the first quarter, falling to 7.7% from 7.9% in the fourth quarter of 2012. The decline was driven by reduced factory output and investment.

    The SIC, however, estimated a slowdown in the country's export growth to around 10% in the second quarter from 18% in the first quarter due to rising trade protection.

    Meanwhile, import growth is expected at around 8% this quarter, compared with 8.4% in the first quarter. China will release its April trade figures on 8 May.

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    "Although the external environment facing China has improved, our country's strong export growth rate cannot be sustained as demand is still not strong and trade protection rises," the paper quoted from the SIC report.

    "As European countries are stuck in light recession, RMB real effective exchange rate will face even stronger pressure to appreciate due to increasing protectionism. Therefore, export cannot sustai...

  • Xinda Management Group Shenzhen China

    Community, Communication Design

    http://xindamanagementgroup.bravesites.com/entries/general/xinda-management-group-shenzhen-china-allvoices

    Growth in Chinese industrial firms’ profits slowed last month, adding to evidence the mainland’s economic recovery is losing steam. Net income rose 5.3 per cent to 464.9 billion yuan (HK$580 billion) from last March, down from a 17.2 per cent pace in the first two months of this year, the National Bureau of Statistics said yesterday. Profit in the first quarter rose 12.1 per cent to 1.17 trillion yuan, it said. Tax revenue growth for the first quarter also slowed by 4.3 percentage points from the same period last year, the Ministry of Finance said. The data follows the supreme Politburo Standing Committee meeting on the economy on Thursday, which called for strengthening the mainland’s economic growth momentum while guarding against financial risks. “Profits are only growing in line with sales and with problems of overcapacity and the sluggish global picture. It doesn’t bode well for a speedy return to higher profit margins,” said Louis Kuijs, chief China economist at Royal Bank of Scotland. “Heavy industries especially still face destocking and higher costs, but if there is a silver lining, industries catering to the consumer, like textiles, food and beverages, seem to be doing much better,” Kuijs said. Industrial growth is facing pressure amid slowing domestic and global demand, Xiao Chunquan, a Ministry of Industry and Information Technology spokesman, said on Tuesda...