1 March, 2015 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter | Mobile





mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 06/21/2012
CHINA
Chinese Manufacturing falls in June for the eighth consecutive month
In June the PMI fell to 48.1 (in May it was at 48.4), domestic demand is rising very slowly, although there are many promises made by leadership

Beijing (AsiaNews) - For the eighth consecutive month, the industrial sector has declined, with a decrease in foreign orders. The figures were issued today by the authoritative HSBC Flash Purchasing Managers Index, according to which the Chinese PMI for the month of June fell to 48.1. In May it was 48.4. For the eighth consecutive month, the PMI is thus below 50: anything above this figure is a sign of growth, below 50 is a sign of contraction.

Today's figures contrast with comments made by Chinese leaders. On June 17, President Hu Jintao said the country has taken "targeted measures" to support domestic demand. China's problem is that its economy still relies heavily on exports. Because of the crisis in Europe and the United States, exports have fallen.

To sustain domestic demand, last May Beijing opened to private investment a number of sectors that formerly had been monopolized by the state, such as railways, hospitals, power plants and energy transmission. It also launched a new wave of infrastructure projects and this month has once again cut interest rates.

The PMI of HSBC does not often coincide with the official one. The reason is that the government takes into account more the state companies; HSBC's estimate is based more on private companies, which feel the crisis more than state companies, that are funded more easily.

 

 


e-mail this to a friend printable version

See also
09/28/2011 CHINA
Chinese Banks Close to Collapse. Fears of zero growth
11/26/2012 CHINA
The yuan reaches a 19-year high. More optimistic forecasts for China
11/24/2010 CHINA
Chinese banks reach lending ceiling
08/21/2009 CHINA
Bank loans and China’s economy recovery: risk of a speculative bubble?
03/11/2008 Asia
Fears of an economic tsunami grow, especially in Asia
by Maurizio d’Orlando

Editor's choices
EGYPT - ISLAM
What Tayeb and Sisi said is big step towards a revolution in Islam
by Samir Khalil SamirThe grand imam of Al-Azhar slammed literalist interpretations of the Qur'an and the Sunnah, as fundamentalists and Islamic terrorists do. He supports the urgent need for Islam's reform, especially in terms of teaching lay people and clerics. He also calls for an end to mutual excommunication (takfir) between Sunnis and Shias. Egyptian President al-Sisi chose to fight the Islamic state group after it beheaded 21 Coptic Christians, whom he called "Egyptian citizens" with full rights.
SAUDI ARABIA - ISLAM
For head of Al-Azhar, religious education reform is needed to stop Islamic extremismFor Ahmed al-Tayeb, it is urgent to come up with new educational programmes to avoid "corrupt interpretations" of the Qur'an and Sunnah. Islamic terrorism undermines the unity of the Muslim world. He blames Mideast tensions on a "new global colonialism allied to world Zionism". a speech by the Saudi king is read at the conference.
HONG KONG - CHINA - VATICAN
It looks like someone is trying to shout us down
by Card. Joseph Zen Ze-kiunThe widespread optimism concerning the dialogue between the Holy See and China is largely groundless. Some Chinese bishops unable to speak freely are asked "leading" questions. The key issues remain unresolved, namely episcopal appointments and the fate of the Chinese Catholic Patriotic Association. Benedict XVI's Letter to Chinese Catholics, also cited by Pope Francis, provides guidelines. No agreement is better than a bad agreement. What happened to Msgr. Cosma Shi Enxiang and Msgr. James Su Zhimin? Hong Kong's bishop emeritus, champion of religious freedom in China, delivers a vibrant reflection.

Dossier

by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.