China industrial production up 6% in 2016

China industrial production up 6% in 2016

In this photo taken Thursday, Jan. 19, 2017, a woman walks past lunar new year themed advertisements in Beijing, China.

China's economic growth sank to its lowest level in three decades in 2016 as Beijing braces for a trade battle with U.S. President-elect Donald Trump.

China's imports and exports in CY 2016 fell 0.9 percent and 6.1 percent in comparison to CY 2015.

Last week, the head of economic planning said that the conditions have been generally stable at the start of 2017.

Fiscal revenues were inflated by at least 20% during the period, and some other economic data were also made up, the People's Daily said.

Ning attributed the higher index to slower pension growth for some urban groups and the negative effect of falling grain prices on farmers' income. The year before that, 7.3%.

That's just as the government prepares for potential tension with Trump.

Data-watchers will also keep a close eye on whether fixed asset investments, a proxy for construction and infrastructure spending, have seen a meaningful bottoming, as growth stabilizes, the Mizuho Bank economists added. He said a "trade war" would harm all countries involved.

Earth sets temperature record for the third year in a row
The Arctic was record warm during 2016, scientists have found, with record low sea ice and other widespread environmental changes. Across Earth too, there was not a single land area that enjoyed lower-than-average temperatures previous year , warned NOAA.

Auto sales also are forecast to weaken.

For the fourth quarter ended in December, gross domestic product grew 6.8%, slightly outperforming the 6.7% predicted by economists.

Chinese leaders say they will make the economy more productive by giving private companies a bigger role, but last year's performance still relied on spending by the government and state-owned industry.

Last year's 6.7 per cent expansion came at the expense of 15.4 per cent loan growth, while outstanding credit likely rose to about 264 percent of GDP, fuelling concern about financial frailty, Bloomberg Intelligence economists Tom Orlik and Fielding Chen wrote in a report.

Real estate sales are booming, which has pushed up economic growth figures.

Reflation has been a bright spot as the producer price index snapped four years of deflation.

"The governor of Liaoning province, the only area in China in a recession, now says three years of recent economic figures were inflated - a rare official confession of data fabrication that has always been suspected and criticised", the Caixin magazine reported. For the full year, China's GDP grew 6.7%, the slowest in 26 years-but within the government's target range of 6.5% to 7%. But it warned rising debt increases the risk of a sharper slowdown.

On efforts to reduce overcapacity in the nation's coal and steel sectors, the NBS said it had "successfully fulfilled the task", noting output of coal dropped by 9.4% over the year, leaving it at a six-year low.

Related Articles

  • Iraq special forces chief says mission accomplished in east Mosul

    Both places are on the east bank of the Tigris River that divides Mosul, whose western side is still under full IS control. Presumably, ISIS terrorists were going to load the plane with explosives and target it on one of convoys of the Iraqi Army.

    IPhone 8 And Samsung Galaxy S8 Could Share Waterproofing

    Apple could do this by shrinking the bezels on the sides and bottom of the iPhone some to offer a smaller overall package. The Zirconia Ceramic will also be better in making wireless connections and is also heat resistant for iPhone 8.
    Bank of Canada Holds Rates Steady, but Says Further Easing Is Possible

    Bank of Canada Holds Rates Steady, but Says Further Easing Is Possible

    US stocks have already priced in a lot of good news, mostly on the cost side, and Mr. It said it did not account for the full range of Trump's promised policy changes.
  • Yes, Bengaluru is most dynamic in world

    In order to remain competitive in a global world, these cities must turn their focus on longer-term drivers of growth, says Kelly. Of the top 30, Hyderabad (ranked fifth) is the only other Indian city besides Bengaluru which has found a place in the top 10.
    Madame Tussauds Unveils Updated Trump Wax Figures

    Madame Tussauds Unveils Updated Trump Wax Figures

    Unlike the Barack Obama figure revealed in 2009, who was depicted smiling, Trump appears resolute and quite serious. This is, says Tussauds, the only place in the world where visitors can "meet" figures of all past presidents.

    Ollie Locke congratulates Binky Felstead on her pregnancy

    Whilst Binky admits she is now going on on "dates", with JP they won't be rushing their relationship for the sake of the baby. Binky and JP weren't together when she found out and admitted she felt really overwhelmed.
  • In the Year of the Rooster, China's leadership sizes up Trump

    In the Year of the Rooster, China's leadership sizes up Trump

    Without mentioning Mr Trump or the USA by name, President Xi criticised those who argued that globalisation had cost jobs in the West and warned: "No one will emerge a victor in a trade war ".

    Samsung could run up against worldwide regulations after involvement in bribery scandal

    Choi Soon-sil is the confidante of then-President Park and has been accused of clearing around $70M through questionable means. The national pension fund's support was crucial for the merger, which analysts said helped Mr.
    Atlanta's defense more active since first meeting with Packers

    Atlanta's defense more active since first meeting with Packers

    Plus, Rodgers has the postseason receipts; for all his brilliance in this MVP-caliber season, Ryan doesn't have his yet. Todd Salem: Despite the trend to begin the playoffs , I am taking both road teams in the Conference Championship Round.
  • Raiders file Las Vegas relocation paperwork, vote set for March

    Raiders owner Mark Davis has said for some time he intends to move the franchise from Oakland to Vegas. The Vegas Golden Knights of the National Hockey League played their inaugural season previous year .
    App Store prices will be higher in the U.K

    App Store prices will be higher in the U.K

    Time spent in apps grew more than 20 percent to almost 900 billion hours in 2016, according to the year-end report. YOU HAVE 52 PER CENT of the population to thank for the fact that Apple's App Store prices are about to go up.

    Last man to walk on the Moon dies aged 82

    Cernan, Schmitt and their crewmate Ron Evans returned to Earth on December 19, 1972, splashing down in the Pacific Ocean. Cernan was the last man of the crew to return to the lunar-module, making him the last man to ever walk on the moon.