介绍:
Latest Economic Data Updates
Anchor:
A slew of economic data has been released by the China's National Bureau of Statistics.
CRI's Min Rui has more.
Reporter:
The latest data from the National Bureau of Statistics show exports growth dropped 7.9 percent in the first three quarters to 17.9 trillion yuan.
The number is considered sluggish, and it comes as China's economy is in a period of transition - shifting away from an investment-driven model to one that is driven by domestic consumption.
In September, retail sales increased by nearly 11 percent, slightly higher than previous data.
The figure marks the highest rate of growth since the beginning of this year.
Meanwhile, investment in China's property sector, once a major growth engine, continued to slow through the first three quarters of this year.
During that nine month period, real-estate investment rose 2.6 percent to 7 trillion yuan.
The growth slowed by nine-tenths of a percentage point through the first eight months, and dropped 2 full points compared to the first half.
Industrial output increased 5.7 percent in September, but the rate is down from the 6.1 percent registered in August.
Meanwhile, the unemployment rate stood at 5.2 percent in September, up slightly from the previous two months.
Fiscal revenue grew faster in September but the country's finances faces great pressure in the fourth quarter of this year.
For CRI, I am Min Rui.
China's GDP expands 6.9 pct in Q3
Anchor:
For more on the latest data of the Chinese economy, I spoke earlier with Professor Liu Baocheng at the University of International Business and Economics.
…
Back anchor:
That was Professor Liu Baocheng, from the University of International Business and Economics based in Beijing.
China unveils timetable for building negative list system
China plans to improve access to the country's markets by expanding the negative-list system that's been piloted in three free trade zones.
The expansions will take place over a 25-month period, starting from December.
The full text of the policies of the negative list system has been published online.
The list lays out the condition that prevent or limit access to Chinese markets, affecting industries, fields and businesses concerning national security, strategic resources, public interests, and more
A more complete negative list will be launched in 2018.
The negative list system was first launched in the Shanghai Free Trade Zone in 2013.
Chinese public companies expect rising 3Q profits
More than half of China's listed companies have published preliminary financial results for the first nine months of the year, with the majority of them expecting better profits.
Nearly 60 percent on the companies says profits increased.
According to market information provider Eastmoney, among the top ten gainers, seven were in the manufacturing sector.
Companies in the steel and electric equipment sectors recorded their best performance in the third quarter.
Weapons, construction material, and real estate companies suffered the heaviest losses.
Investors are still waiting for many heavyweight companies to release financial data this week.
China's currency to essentially become world's great currency:HSBC chairman
Douglas Flint, group chairman of HSBC Holdings, says the Chinese currency is to become the world's third great currency, after the U.S. dollar and the Euro.
However, Flint also pointed out that it will probably take a few decades for the Renminbi to become equal with the Dollar and Euro as a world reserve currency.
He is excited to see the rapid growth of RMB business globally, saying the inclusion of the RMB into the SDR basket of currencies would be symbolic of the maturity of the Chinese currency.
He also noted that more central banks have swap lines with the Chinese central bank, and more reserve managers include RMB in their reserve management plans.
China's power use drops slightly in Sept.
Electricity consumption in China edged down two-tenths of a percent in September, sinking to 456.3 billion kilowatt hours.
This stat is seen as a key indicator of economic activity.
But the number through the first three quarters of the year is up.
The National Energy Administration says electricity usage through the first nine months of the year increased by eight-tenths of a percent.
Air France plans 1,000 voluntary job cuts in 2016
Air France plans to move forward with plans to slash about 1,000 jobs next year.
The restructuring has already triggered violent protests and scuffles.
After failing to convince pilots to work more for the same wage, under new productivity measures, France's leading flag carrier unveiled its "Plan B" based on massive lay-offs and reduced flights to trim losses and boost productivity.
The 'Plan B' will take place over the next two years.
In addition, Air France eyes to trim 1.5 percent in unit costs per year between 2015-2017 and to report positive free cash flow every year by the base businesses.
It plans to reduce the long-haul business by 10 percent over the period with a major focus on low-profit destinations, mainly in Asia and the Middle East.
Xiaomi has announced successor to its Mi TV 2
Xiaomi has announced a successor to its Mi TV 2 today.
The next-gen Mi TV 3 boasts a 60-inch display with LG's true 4K technology. It's available for 4999 renminbi, less than 800 U.S. dollars.
The company also launched a Segway-like device for hands-free short-distance transportation.
The device can go as fast as 16 kilometers per hour and weighs only 12kg.
The TV and the new transportation device will be on sale from Xiaomi's official website from November 3.
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