介绍:
HSBC April Final PMI 48.1
HSBC says its Manufacturing Purchasing Managers' Index for China in April has come in at 48.1.
This is down fractionally from its earlier flash reading of 48.3.
HSBC's Chief China Economist says the latest data implies domestic demand is contracting at a slower pace, but remains sluggish.
Qu Hongbin says action will be required to ensure the Chinese economy regains its momentum amid this current slowdown.
China's trade situation to improve after May - commerce ministry
The Chinese commerce ministry is suggesting this country's overall trade is likely to gain momentum following this month.
The ministry's quarterly report suggests external trade is shaping up to exceed last year's figures, although uncertainties continue to weigh on exports.
Zhou Liujun is with the Ministry of Commerce.
"Service trade for the first quarter has grown 15.6% this year, accounting for nearly 13 percent of total foreign trade. That's an almost 2 percent increase year on year. Meanwhile, the shares that China's service took over the global imports and exports have risen to 6 percent for the past year."
The ministry adds imports and exports in the first quarter are within a stable growth range.
The ministry also notes that exporters face increasing challenges, including rising labor and land costs, as well as the appreciation of the renminbi.
Chinese exports unexpectedly fell for the second straight month in March.
Import growth has also dropped sharply.
Chinese trade data for last month is due out on Thursday.
China to overtake the US and become the world's largest economy
Anchor:
China is set to overtake the US as the world's largest economy by at least one measure later this year.
According to the World Bank's International Comparison Program, the Chinese economy will become the world's largest in terms of purchasing power parity.
The economic theory is along the lines of the so-called "Big Mac index" which measures how much purchasing power a given currency has.
The United States has held the top position in that category since 1872.
For more on this, CRI's Shane Bigham spoke earlier with Mike Bastin, Visiting Professor at China's University of Economics and Business.
Back Anchor:
Mike Bastin, Visiting Professor at China's University of Economics and Business, speaking with CRI's Shane Bigham.
Beijing to Unveil Plan for Establishing Social Credit System Shortly
Internal sources are suggesting the draft plan for establishing a new nationwide credit system has been submitted to the State Council for review.
As part of the plan, an information platform will be set up to provide personal and industrial credit information.
The platform will also deal with commercial registrations.
Tax and pension information will also be detailed on the new platform.
A finalized version is expected to be unveiled in the not-too-distant future.
Google buys UK retail forecasting firm Rangespan
Google has announced it's purchased Rangespan.
Rangespan is a UK start-up that uses data analysis to help retailers determine which products they should sell and when.
Founded by former Amazon employees, Rangespan is the third UK start-up to be acquired by Google this year.
The terms of the purchase haven't been made public.
Rangespan calculates real-time sales data to better predict which products will be popular with customers.
It also helps companies better manage their supply chains.
As part of the takeover, Rangespan will no longer sell its services to clients.
The move comes as Google tries to expand its Google Shopping web portal and e-commerce division.
News Corp buys 'bodice ripper' publisher Harlequin
Rupert Murdoch's News Corp has bought Canadian publishing house Harlequin for 415-million US dollars.
Harlequin is best known for publishing romance fiction.
More than 40-percent of Harlequin's revenues come from non-English publications.
Harlequin will become a division of News Corp's HarperCollins subsidiary.
Founded in 1949, Harlequin publishes books in 34 different languages and sells them in 100 international markets.
China temporarily bans British cheese imports
Chinese authorities are temporarily banning the import of British cheese, with food inspectors becoming concerned about hygiene standards at an unnamed UK dairy.
The Chinese officials are reportedly dissatisfied with issues such as maintenance and storage, raw milk transport temperatures and air sanitization.
However, the dairy they have visited does not export its products to China.
The UK's agriculture minister is calling for the restrictions to be lifted "as soon as possible".
The current ban applies to all cheese made after May 1st, which is also the date a new food safety law came into effect here on the mainland.
Britain exports more than 11 tons of cheese to China annually.
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