Thread: The View, from China

Chinese provinces show stepped-up economic recovery in Q1; 8 out of 31 record GDP expansion above 6%
By Li Xuanmin

Published: May 03, 2024 06:26 PM

"The Chinese economy has started off in an upbeat note, with most provinces across the country showing a stepped-up recovery trajectory in the first quarter of the year — fueled by robust industrial growth, a warm-up in external demand and new drives from the creation of new quality productive forces, relevant data showed.

As the first-quarter data are often deemed as a bellwether gauging the fundamentals of the economy, the solid opening bodes well for the country's whole-year economic development, observers said, while expecting economic heavyweight provinces to continue playing a leading role in buttressing the rebound.

Among the 31 Chinese provinces that have released their GDP growth in the first three months to date, eight provinces and municipalities of East China's Jiangsu, Shandong and Zhejiang provinces, Southwest China's Sichuan Province and Chongqing Municipality, Central China's Hubei Province, Northeast China's Jilin Province as well as Beijing recorded a GDP expansion above 6 percent. Jilin led the provincial GDP growth in the first quarter, with a growth rate of 6.5 percent year-on-year, followed by Jiangsu, at a rate of 6.2 percent.

China's eastern and southern regions, or economic heavyweight provinces, continue to play a pivotal role in driving the economy. The economic outputs of South China's Guangdong and East China's Jiangsu, dubbed as the country's manufacturing hubs, have hit over 3 trillion yuan ($414 billion) in the first quarter, while that of Shandong and Zhejiang exceeded 2 trillion yuan.

All these major economic provinces have shown a good momentum in the growth of high-tech manufacturing and new quality productive forces. For example, investment in advanced manufacturing and high-tech manufacturing in Guangdong rose by 22.4 percent and 33.3 percent, respectively. In Jiangsu, the value of high-tech industries output accounted for 50.2 percent of the industrial output, reaching 50 percent for the first time.

Observers said major economic provinces usually have a solid economic foundation, well-developed industrial chains, and strong economic power, thus they are playing significant roles in economic growth. As there are still many uncertainties that could weigh on the GDP growth for the whole year, these provinces, with greater economic resilience, should further give full play to their "pillar" and "stabilizer" roles looking ahead.

Analysts also suggested that major economic provinces can strengthen cooperation with surrounding areas to achieve resource sharing and complement each other's advantages, so as to jointly promote regional economic development.

A total of 17 provinces have reported a GDP gain either in line or surpass the national average of 5.3 percent, news website guancha.cn reported on Friday.

It is worth noting that most of China's central and western provinces have been in a catch-up to close development gaps with the eastern regions. In Chongqing, the manufacturing industries for electronic specialty materials and intelligent unmanned aerial vehicles both saw an added-value increase of over 80 percent, relevant data showed.

However, data from different provinces also underscored an imbalance in economic recovery, in particular a lag in consumption rebound, observers pointed out. They expect the sector to pick up expansion in the second quarter, especially with the launch of more supportive measures such as trade-in plans."

Chinese provinces show stepped-up economic recovery in Q1; 8 out of 31 record GDP expansion above 6% - Global Times

Yep. I believe it, Li Xuanmin the Global Times are such credible sources.

Originally Posted by bsnub

Yep. I believe it, Li Xuanmin the Global Times are such credible sources.

Yeah amazing they can come up with this bullshit but they can't tell flooding washed away a shit road.

Xi, Macron hold talks, calling for upholding independence

By Wang Wenwen in Paris and Wang Qi in Beijing


Published: May 07, 2024 02:25 AM

"China and France should uphold mutual benefits, jointly oppose acts of "decoupling" and disrupting industrial and supply chains, and say no together to building barriers, President Xi Jinping made the remarks on Monday when holding talks with his French counterpart Emmanuel Macron in Paris.

China and France should uphold independence and jointly fend off a "new Cold War" or bloc confrontation, Xi said, the Xinhua News Agency reported. Xi also attended a welcome ceremony held by Macron on Monday.

Earlier on the day, Xi attended a China-France-EU trilateral meeting with President Macron and European Commission President Ursula von der Leyen at Elysee Palace.

In a signed article published Sunday in French media Le Figaro, Xi said we live in a world that is far from being tranquil and is once again facing a multitude of risks. China is ready to work with France in the spirit that guided the establishment of our diplomatic ties to forge a stronger comprehensive strategic partnership between our two countries and make new contributions to stronger cooperation of the global community.

Strategic guidance

Wang Yiwei, director of the Institute of International Affairs at the Renmin University of China, told the Global Times on Monday that Xi's visit to France marks the climax of China's diplomacy toward Europe this year. And EU is crucial in the process of promoting political multipolarity and economic globalization.

On Tuesday, Macron will take Xi to the Pyrenees, a mountainous region dear to the French President as the birthplace of his maternal grandmother, according to Reuters.

Such a special arrangement by Macron has the meaning of courtesy and shows the special relationship between the two heads of state, as well as a kind of frankness, analysts said.

Tian Dewen, deputy director of the Institute of European Studies of Chinese Academy of Social Sciences, told the Global Times that in the past five years, China-EU relations have encountered difficulties, but China-France relations have been relatively stable. This is directly related to the Macron government's implementation of positive and pragmatic relations with China.

China is a very important external force for France and Europe to realize strategic autonomy, and it can certainly consolidate France's leading position in Europe if it can maintain a communicative and interactive relationship with China, experts said.

Seeking consensus

China regards Europe as a priority of its major-country diplomacy with Chinese characteristics, and an important partner in achieving Chinese modernization, Xi said at China-France-EU trilateral meeting held earlier on Monday.

As the world enters a new period of turbulence and transformation, China and the EU, as two major forces in the world, should continue to see each other as partners, stay committed to dialogue and cooperation, deepen strategic communication, enhance strategic mutual trust, build strategic consensus, carry out strategic coordination, work for steady and sound growth of China-EU ties, and continue making new contributions to world peace and development, Xi said.

According to AFP, Macron told Xi that coordination with Beijing on "major crises" including Ukraine and the Middle East was "absolutely decisive" and essential.

He Zhigao, a research fellow with the Institute of European Studies from the Chinese Academy of Social Sciences (CASS), said that the trilateral meeting highlights an important opportunity for China and Europe to strengthen high-level exchanges, communicate on major issues, and enhance strategic consensus.

"By talking about some of the current challenges facing China-Europe relations and the demands of both sides, they can continue the stability and cooperation space of the current relations, so that the relations will not slide into a new Cold War led by the US. China-Europe relations now play a more important role in shaping global order than ever," He told the Global Times.

Von der Leyen said that it is important that the EU maintains good relations with China, and this will determine whether global challenges such as climate change and the Ukraine crisis can be better addressed.

Xi urged the two sides to properly address economic and trade frictions through dialogue and consultation, and accommodate each other's legitimate concerns.

Whether viewed from the perspective of comparative advantage or global market demand, there is no such thing as "China's overcapacity problem," Xi said.

Sense of autonomy

Sun Keqin, a research fellow at the China Institutes of Contemporary International Relations, told the Global Times that the US has very deep involvement in European affairs.

"US interference remains, but Europe has kept a certain degree of autonomy and is able to cooperate with China, especially the French leadership which has always had a strong sense of strategic autonomy in a pragmatic manner," said Sun.

Through the visit of the Chinese top leader, Europeans will also have the opportunity to think about how to handle its relations with China, whether to follow the US to engage in confrontation and lose their own interests, or to jointly develop mutual benefits and get win-win results, the expert said."

Xi, Macron hold talks, calling for upholding independence - Global Times

The new government looks to enhance cooperation with China: Argentine FM

By Xie Wenting and Bai Yunyi

Published: May 06, 2024 07:08 PM

"The new Argentine government is looking to cooperate with China, Argentine Foreign Minister Diana Mondino told the Global Times in an exclusive interview on Monday.

She also said that the Belt and Road Initiative (BRI) is very important for Argentina, and the Argentine government will continue to maintain an open attitude toward foreign investment, including from China.

From April 27 to May 1, Argentina's Minister of Foreign Affairs, International Trade and Worship of Argentina, Mondino, visited China. This visit marked the first visit to China by Mondino since the current government took office, and it coincided with the 10th anniversary of the establishment of the comprehensive strategic partnership between China and Argentina.

China looks forward to further enhancing political mutual trust and opening up broader prospects for mutually beneficial cooperation through this visit, continuously enriching the content of the comprehensive strategic partnership between China and Argentina, and helping both countries achieve common prosperity and development, according to media reports.

Mondino told the Global Times that her visit to China is expected to enhance friendship with China and strengthen links in the economy, politics, diplomacy, and business.

Accompanying her on her visit to China were the President of the Central Bank of Argentina, the Vice Minister of Economy, and representatives from more than 20 Argentine companies, all of whom engaged in dialogues with Chinese partners.

She said that a series of meetings and agendas in China have been very successful. "Everybody is trying to foster these very good relations," she said.

According to Mondino, during this visit, she and her colleagues explained to China the economic and social changes Argentina is undergoing, as well as some measures taken by the new government over the last four months.

She stressed that Argentina is trying to further open up to foreign investment and the economy, while reducing inflation and the fiscal deficit.

She said that China is very cautious in its monetary policy and has been very successful in its openness to the outside world. Argentina hopes to continue to be China's trading partner and an investment destination, and the new government will seek deeper cooperation with China.

"The cooperation between Argentina and China is very good, very fast, and very expeditious," she said.

She also noted to the Global Times that Argentina's participation in the BRI is "really very important" for the country.

Argentina has a huge demand for infrastructure construction. In addition, there is potential for both countries to further strengthen cooperation in agriculture, and in the mining of minerals such as lithium, and in energy. She said that Chinese investments will receive fair and equal treatment in Argentina.

According to public information, China is currently Argentina's second-largest trading partner, accounting for 13.8 percent of Argentina's total foreign trade. China is also Argentina's third-largest export market and second-largest source of imports, accounting for 8 percent of Argentina's total exports and 19 percent of total imports. Chinese direct investment in Argentina is mainly concentrated in three major areas: infrastructure, energy, and the new energy industry.

During the interview, Mondino denied claims that "China-Argentina relations are at their worst historical time."

"Maybe (those people) do not understand Spanish," she jokingly told the Global Times. She mentioned that the bilateral trade volume between China and Argentina may have temporarily declined, mainly due to Argentina experiencing a severe drought, which has led to crop yields reduction and, consequently, exports to China.

However, overall, there are no issues in China-Argentina relations. "You should not believe everything you read."

The Argentine diplomat also stressed that Argentina has always firmly adhered to the one-China policy, and the new government will continue to uphold this policy."

The new government looks to enhance cooperation with China: Argentine FM - Global Times

China-Russia Expo offers dynamic platform for boosting trade, economic cooperation: MOFCOM


By Global Times


Published: May 07, 2024 04:35 AM

"The China-Russia Expo, the highest-level and most extensive exhibition hosted by the two countries, has become a major platform for fostering industrial partnerships, and a pivotal avenue for local collaborative initiatives, said an official from the Ministry of Commerce (MOFCOM) during a press conference on Monday, while also pledging to facilitate and intensify bilateral trade ties and regional cooperation in the future.

The remarks were made in anticipation of the upcoming 8th China-Russia Expo. As part of the 75th-anniversary celebrations of China-Russia diplomatic relations, the six-day event will be held in Harbin, the capital of northeast China's Heilongjiang Province from May 16 to 21, coinciding with the 33rd China Harbin International Economic and Trade Fair.

With a theme of "cooperation, trust, and opportunities," the expo will focus on various sectors such as cultural tourism, high-tech equipment, traditional and alternative energy, finance, and education among others, aiming to foster comprehensive, multi-faceted, and profound exchanges and collaborations between the two countries, said a local official from Heilongjiang.

This year's expo is expected to achieve records in both scale and influence. Russian exhibitors will comprise 137 companies, occupying a record-breaking 3,267 square meters of exhibition space. Additionally, 1,246 companies from 21 provinces, regions, and municipalities across China will participate, showcasing the tangible implementation of the China-Russia comprehensive strategic partnership of coordination for a new era, according to local media reports.

Since it was inaugurated in 2014, the expo has attracted over 7,200 Chinese-Russian companies and 10.05 million attendees, resulting in deals worth 446.8 billion yuan ($61.99 billion) across various sectors. Over the past decade, the expo's features have gradually shifted from traditional sectors such as energy, minerals, and mechanical electronics to emerging sectors including medical devices, the digital economy and new energy, said Liu Xuesong, director of the Department of Eurasia Affairs at MOFCOM.

Under the new paradigm of China-Russia relations, economic and trade cooperation between the two sides has made significant strides in recent years. In the first quarter of 2024, the bilateral trade volume was $56.68 billion, up by 5.2 percent year-on-year, maintaining an upward trajectory. Moreover, the trade structure continues to improve, with increasing ties in emerging areas such as services trade and cross-border e-commerce, according to official data.

Looking ahead, Liu pledged at the press conference to further enhance China-Russia trade and investment cooperation, bolster the resilience of industrial supply chains, and elevate the facilitation and liberalization of bilateral and regional ties, in a bid to foster a favorable policy environment for expanding bilateral trade.

The China-Russia Expo is jointly hosted by China's MOFCOM, the Heilongjiang provincial government, Russia's Ministry of Economic Development, and its Ministry of Industry and Trade. The 7th expo was held from July 10 to 13 last year in Yekaterinburg, Russia. "

China-Russia Expo offers dynamic platform for boosting trade, economic cooperation: MOFCOM - Global Times

Chinese shares stage strong comeback on robust economic data

By Feng Fan

Published: May 06, 2024 08:59 PM

"Chinese stocks staged a strong comeback on Monday after the May Day holidays, with major indices posting significant gains in response to robust economic indicators and booming consumption, signaling vibrant market dynamics.

Following the five-day holiday break, the A-share market opened strongly on Monday, with a broad rally across the board. The Shanghai Composite Index rose by 1.16 percent to close at 3,140.72, while the Shenzhen Composite Index climbed 2 percent, ending the day at 9,779.21.

The surge also marked the fourth consecutive day when trading volume exceeded 1 trillion yuan ($141.4 billion).

The reopening of the market after the five-day holidays saw widespread gains across many sectors, continuing the upward momentum seen before the holiday break, Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times on Monday.

Experts said the market's gains reflected strong consumer demand, increasingly optimistic economic recovery expectations, and supportive government policies.

Benefiting from booming travel and spending during the May Day holidays, consumption-related stocks are expected to see a favorable uptrend in the coming days, Wang Yu, an analyst at Donghai Securities, told the Global Times on Monday.

The holidays generated a significant uptick in consumer spending. According to the Chinese Ministry of Culture and Tourism, 295 million domestic passenger trips were made, up 7.6 percent year-on-year. Spending by tourists totaled 166.8 billion yuan, marking a 12.7 percent increase year-on-year.

The spending figures led to a rally in consumption-related stocks on Monday. Notably, sectors such as food and beverages performed particularly well, with Guizhou Moutai's shares up by 3.24 percent, those of Wuliangye Yibin up by 3.04 percent, and shares of COFCO Technology up by 4.92 percent. Additionally, the CSI 300 Index, which tracks the top 300 issues on the Shanghai and Shenzhen stock exchanges, jumped 1.48 percent to 3,657.88.

Supporting the bullish sentiment were the latest manufacturing and services purchasing managers' index (PMI) readings indicating economic expansion. The National Bureau of Statistics reported that the manufacturing PMI for April stood at 50.4, the second consecutive month of expansion. The services business activity index was also positive at 51.2.

Caixin reported a services PMI of 52.5 for April, maintaining expansion territory. The manufacturing PMI reached a new high for the year in March at 51.4.

Positive expectations for the property sector, fueled by relaxed housing policies in several regions, contributed to the market's optimism, experts said. "The shift in real estate policies is expected to unleash significant housing demand, stabilizing both the property market and prices, thus further boosting the economy," Yang said.

The focus on real estate was underscored by a recent high-level meeting. On April 30, Political Bureau of the Communist Party of China Central Committee emphasized the need for a new model for real estate development to mitigate key sectoral risks and foster sustainable economic growth."

Chinese shares stage strong comeback on robust economic data - Global Times

Double post.

Originally Posted by OhOh

Double post.

It doesn't matter, no fucker reads the utter bullshit the first time.

CHINA / DIPLOMACY


Xi, Putin hold talks, sign joint statement on deepening ties

China, Russia have found ‘new path for major countries’

By Yang Sheng in Beijing and Zhang Weilan in Harbin

Published: May 16, 2024 11:10 PM Updated: May 16, 2024 11:39 PM

"Chinese President Xi Jinping held large-group talks with Russian President Vladimir Putin, who is in China on a state visit, at the Great Hall of the People in Beijing on Thursday. Analysts from both countries said the visit will reinforce and further promote the bilateral strategic ties with high level mutual-trust and broad common interests.

During the meeting, Xi again extended a warm welcome to Putin for his state visit to China. He pointed out that this is President Putin's first foreign visit after he began his new term as the president. This fully demonstrates the great importance President Putin himself and the Russian government attach to developing China-Russia relations. China highly appreciates this.

Xi said this year marks the 75th anniversary of the China-Russia diplomatic relations. It is an important milestone year in the history of China-Russia relations. Over the past 75 years, China and Russia together have found a new path for major countries and neighboring countries to treat each other with respect and pursue amity and mutually beneficial cooperation.

With the concerted efforts of the two sides, China-Russia relations have been moving forward steadily, with enhanced comprehensive strategic coordination and further cooperation on economy and trade, investment, energy, people-to-people exchanges, at the subnational level and in other fields. This has made positive contributions to maintaining global strategic stability and promoting greater democracy in international relations, Xi remarked.

Both China and Russia are permanent members of the United Nations Security Council and major emerging markets. It is the shared strategic choice of both countries to deepen strategic coordination, expand mutually beneficial cooperation and follow the general historical trend of multipolarity in the world and economic globalization.

Li Haidong, a professor at the China Foreign Affairs University, told the Global Times on Thursday that China and Russia are providing back-to-back mutual support to each other amid the turbulence that the world is experiencing. He pointed out that this doesn't mean they are building an alliance to target anyone, but are providing strategic support to serve the fundamental interests of not only the two peoples but also the fairness and justice of the world, to jointly withstand hegemony and unilateralism, and promote multilateralism."

Continues here:

Xi, Putin hold talks, sign joint statement on deepening ties - Global Times

Winnie the Pooh and the high-heeled war criminal have been sucking each other's cocks since they got to power.

It's not like it's anything new.