Posts tagged ‘Data’

13/09/2016

China’s Industrial Output, Retail Sales Accelerate in August – China Real Time Report – WSJ

China’s economy strengthened in August, with a slew of data, from factory production to retail sales, beating estimates Tuesday. The improved performance is a fresh sign that stepped-up government spending and strong property sales are helping to stabilize growth in the world’s second-largest economy.

As for the numbers themselves, as reported by the government, industrial output rose 6.3% last month from a year earlier. Investment in buildings and other fixed assets outside rural households climbed a better-than-expected 8.1% year over year in the first eight months of 2016, while retail sales grew 10.6% in August from a year ago.

Economists generally cheered the numbers, but wondered how long the better times would last. Following are excerpts from economists’ views on the latest data, edited for length and style:Better-than-expected data out of China today raise hopes that policymakers’ efforts to reverse the slide in investment growth are seeing some success. Stronger industrial activity last month appears to have been partly driven by a recovery in investment spending, especially in the state sector. The delayed impact of earlier policy easing means that a stronger second half of this year is likely. The latest evidence of a pick-up suggests that recent concerns that policy easing had failed to provide any noticeable boost to the economy were likely somewhat premature.  Julian Evans-Pritchard, Capital EconomicsToday’s data suggest that the downside risk for third quarter GDP is significantly reduced. Investment in manufacturing industry increased only 3% in Jan-Aug, while investment in services picked up to 11.2%, showing economic rebalancing continues to take place. The uptick in industrial output is consistent with the rebound in the August official manufacturing PMI. However, the divergence of PMI performance between large corporates and small- and medium-size enterprises remains a concern.

Louis Lam and David Qu, ANZ ResearchWe expect investment to remain under pressure for the rest of the year because of slower real estate construction and spare capacity in key sectors. But with industrial profits recovering recently, and investment also up in August, the downward pressure should diminish. Meanwhile, export momentum should improve along with global trade, while we expect consumption to hold up. In all, while further stimulus is necessary to reach the government’s GDP growth target of at least 6.5% this year, the outlook has improved slightly after the August data.  Louis Kuijs, Oxford EconomicsChina needs to nurture an initial economic stabilization with continued fiscal support. Today’s data show economic growth seems to have stabilized a little last month, but it is not on a solid footing yet.  Measures such as tax cuts and increased government spending can not only help spur growth but also help restructure the economy by boosting consumption. Fiscal expenditures rose 10% in August from a year earlier, much faster than July’s 0.3% increase.  Liu Xuezhi, Bank of Communication

Source: Economists React: China’s Industrial Output, Retail Sales Accelerate in August – China Real Time Report – WSJ

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02/12/2015

Hacking of U.S. government was criminal, not state-sponsored: China | Reuters

China’s official Xinhua news agency said on Wednesday that an investigation into a massive U.S. computer breach last year that affected more than 22 million federal workers found the hacking attack was criminal, not state-sponsored.

An illustration picture shows a projection of binary code on a man holding a laptop computer, in an office in Warsaw June 24, 2013. REUTERS/Kacper Pempel

In an article about a meeting between top U.S. and Chinese officials on cyber security issues held in Washington, Xinhua said the breach at the United States Office of Personnel Management (OPM) was among the cases discussed.

The report did not give details of who conducted the investigation, or whether U.S. and Chinese officials both agreed with the conclusion.

The U.S. Embassy in Beijing referred Reuters to the Department of Justice and Department of Homeland Security in Washington for comment on the talks.

The Cyberspace Administration of China, the country’s Internet regulator, did not immediately reply to a Reuters request for comment.

OPM has been under scrutiny from lawmakers and the public ever since it disclosed earlier this year that it had fallen victim to two cyber attacks, which officials have privately linked to Chinese hackers.

The intrusions exposed sensitive personal information, including names, Social Security numbers and addresses of more than 22 million current and former federal employees and contractors, in addition to 5.6 million fingerprints.

Top U.S. and Chinese officials convened this week in Washington for the first round of cyber security talks following the signing of a bilateral anti-hacking accord in September.

The talks on Tuesday and Wednesday are seen as potentially significant in establishing acceptable norms for cyber espionage.

China and the U.S. reached a broad agreement on the joint fight against cyber crimes, and will set up a hotline for these issues, according to Xinhua and CCTV, China’s state-operated national broadcaster.

CCTV said a spokesperson for the Department of Homeland Security declined to comment on any agreement. The next meeting is scheduled for next June, Xinhua said.

Source: Hacking of U.S. government was criminal, not state-sponsored: China | Reuters

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