Economic recovery firmly underway
China’s economy remains on a solid track to recovery as price levels picked up while corporate borrowing increased last month, experts said.
But the recovery in consumption and the services sector remained subdued in January, underlining the necessity of more structural policy support and making any sharp tightening in monetary policy unlikely, they said.
Backed by recovering domestic demand and rising commodity prices globally, the growth in China’s producer price index, which gauges factory-gate inflation, turned positive for the first time in 12 months, coming in at 0.3 percent year-on-year last month, the National Bureau of Statistics said on Wednesday.
China's economy remains on a solid track to recovery as price levels picked up while corporate borrowing increased last month, experts said on Wednesday.
CHINA / SOCIETY By GT staff reporters Published: Jan 27, 2021 10:54 PM
China s 40-day Spring Festival travel rush has kicked off on Thursday. Beijing West Railway Station expects the holiday travel rush to peak between February 16-18, and an estimated 70,000 passengers on average arriving at the station a day. Photo: Li Hao/GT
Dubbed the world s largest human migration, this year s Spring Festival travel rush, estimated at around 1.152 billion trips, is 60 percent decline than that of 2019.
Photo: Chen Xia/GT
To make this unusual Spring Festival as happy, safe and wonderful as usual, officials from six central government departments announced at a press conference on Wednesday a slew of considerate and warm measures. The aim is to guarantee people who choose not to return to hometown could fully enjoy the holiday with their families, meanwhile, those who return would not be affected by rigid epidemic-control measures.
Domestic consumption spurs economic recover--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.
Shoppers buy fruit at a supermarket in Hangzhou, Zhejiang province.- China Daily]
BEIJING (China Daily/ANN): China s factory-gate inflation is likely to turn positive soon as the economic recovery gains more traction, after the country s producer price index dropped by the slowest rate in 11 months in December, experts said on Monday.
The fall in the PPI, which measures factory-gate prices, narrowed to an 11-month low of 0.4 percent on a yearly basis in December, compared with a 1.5 per cent decline a month earlier, the National Bureau of Statistics said on Monday.
On a monthly basis, the PPI rose by 1.1 per cent last month, notching the fastest growth level in four years and rose by 0.6 percentage point from November, the NBS said.