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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese exporters are 'more optimistic' than others in our survey: Allianz TradeFrancoise Huang, senior economist for Asia-Pacific and global trade at Allianz Trade, discusses the possible factors behind the positive sentiment.
Persons: Allianz Trade Francoise Huang Organizations: Allianz Trade Locations: Asia, Pacific
Vcg | Visual China Group | Getty ImagesBEIJING — China's latest policy to boost demand will soon have a greater effect on growth, a top official at the economic planning agency told reporters Thursday. "We believe this work will achieve bigger and bigger results," he said in Mandarin, translated by CNBC. He noted that equipment upgrades account for 9% to 10% of total GDP. 'Strong' central government fiscal supportIn terms of fiscal funding for those upgrades, Zhao said the central government would provide "strong support." Part of the equipment upgrade and consumer trade-in policy also focuses on improving standards for the kinds of products that can be used.
Persons: That's, Zhao Chenxin, Goldman Sachs, Morgan Stanley, Zhao, Bruce Pang, Fu Jinling, Fu, Francoise Huang, We're, JLL's Pang, Shan Zhongde Organizations: Visual China, Getty, BEIJING, National Development, Reform Commission, CNBC, Analysts, People's Bank of, Allianz Trade, Ministry of Industry, Information Technology, Ministry of Housing, Ministry of Commerce, State Administration, Market, China's Ministry of Commerce, Industry, Global Locations: Qingzhou, Weifang City, Shandong Province, China, oversupply, Beijing, JLL, People's Bank of China
"In the first eleven months of 2023, auto shipments to Russia rose about six times that of 2022 in value terms." While he said it's still unclear exactly why Chinese cars are growing so quickly in Mexico, part of the reason is international automakers. Germany's Volkswagen was among the foreign car companies on track for their worst China market sales in years. Local vs. overseas marketsChinese car makers will likely increase their share of the domestic auto market to 75% by 2030, said Francoise Huang, senior economist at Allianz Trade. That would result in a nearly 40% drop in European car sales in China, she said.
Persons: Sarah Tan, Tan, Jorge Guajardo, Guajardo, it's, they've, BYD, Francoise Huang Organizations: Publishing, Getty, Ministry of Commerce, Moody's, D.C, Dentons Global Advisors, CNBC, Volkswagen, China, Allianz Trade, European Union Locations: LIANYUNGANG, CHINA, Lianyungang, Jiangsu province, China, BEIJING, Japan, Russia, Ukraine, Mexico, Belgium, Washington, U.S, Europe
China's producer price index fell year-on-year in October 2022 for the first time since December 2020. BEIJING — China's producer price index fell in October for the first time since December 2020, dragged down by drops in iron and steel prices, according to official data released Wednesday. The producer price index, which tracks the price of raw materials and other input costs, fell by 1.3% in October from a year ago. Changes in China's producer price index tend to precede similar changes in that of the U.S. by about one or two months, Francoise Huang, senior economist at Allianz Trade, said in October. While inflation has surged in the U.S. and Europe, China's consumer price index has remained subdued due to lackluster domestic demand.
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