Monday, 19 November, 2018

China's GDP growth slows to 6.5 per cent in third quarter

A worker walks by a container ship docked at a port in Qingdao in east China's Shandong province A worker walks by a container ship docked at a port in Qingdao in east China's Shandong province
Andy Castillo | 22 October, 2018, 07:31

Third-quarter expansion of fixed-asset investment, a traditional engine of growth, fell to 5.4 per cent in the January-September period, up slightly from 5.3 per cent in the January-August period, data showed. Weakness is largely coming from the secondary industry- most notably manufacturing.

The country's central bank chief weighed in on Friday, saying the People's Bank of China (PBOC) is studying targeted measures to allay the financing difficulties of private companies and will push forward plans to support such firms' bonds financing.

Besides the trade war China's spiralling local government debt remained a major concern of its slowing down economy as it has risen to Dollars 2.58 trillion according to recent figures released by the Ministry of Finance here.

In Hong Kong, the Hang Seng index was down 0.8 percent and the Hong Kong China Enterprises Index lost 0.6 percent.

On a quarterly basis, growth slowed down to 1.6 percent from a revised 1.7 percent in the second quarter, in line with expectations. Nomura estimates the ratio of outstanding pledged shares in the mainland Chinese A-share market is about 8.9 percent in the third quarter, down from a peak of 10.4 percent in the first quarter of 2016. Against the Background of the trade dispute with the United States, the gross domestic product grew between July and September compared to the previous year, only 6.5 percent.

"China's slowdown is a little sharper than expected, but basically fits our narrative for the economy", said Bill Adams of PNC Financial Services Group in a report.

Kandahar governor, police chief killed in insider attack
Abdul Raziq's death, the local leader of the country's main intelligence agency and a journalist were killed, Datyagiri said. The guard opened fire on provincial police chief Abdul Raziq and several officials at a security conference.

Before the latest growth figures, economists had expected China's full-year growth to come in at 6.6% this year and and 6.3% next year.

The Trump administration argues that China has more to lose in a trade war - and will face pressure to reach a truce because it exports more than it buys from the United States and because its economy is decelerating while the US economy looks strong.

Recent rapid losses in the yuan have prompted increasing speculation on whether the currency would breach the psychologically critical 7 per dollar level soon, given the local currency is facing a double whammy of depreciation pressure amid rising China-US trade tensions and signs of slowing economy. This triggered China's withdrawal from the trade talks.

The services sector accounted for 53.1 percent of GDP in the first three quarters, slowing from 54.1 in the first half, while consumption contributed 78 percent to growth in the six-month period, data from Friday showed. Chinese companies' overseas shipments rose an average of 11.7% from a year earlier, a slight improvement from an average of 11.5% monthly growth in the quarter before. But positively, the nation is still on track to meet an official growth target this year of around 6.5 per cent.

China is locked in a trade war with the United States, with Washington threatening to escalate the confrontation after imposing tariffs on $250 billion of Chinese goods. Last week, the People's Bank of China made a decision to cut its reserve requirement ratio by 1 percentage point.

'China is pulling on all the levers to support domestic demand in the face of this trade pressure.

Recommended

  • Fantasy Impact of Patriots RB Carted Off — Sony Michel Injury

    Fantasy Impact of Patriots RB Carted Off — Sony Michel Injury

    He started and played more than half the snaps Sunday but was not the same explosive player he was pre-injury. Brady was intercepted by Kyle Fuller when FB James Develin couldn't reel in a catchable ball.
    Canada Now World’s Largest Legal Marijuana Marketplace

    Canada Now World’s Largest Legal Marijuana Marketplace

    Cannabis possession was first criminalised in Canada in 1923, but medical marijuana has been legal in the country since 2001. Cannabis retailers warned of short-term shortages for cannabis products due to high demand and limited supply.
    The Russian orthodox Church broke with the Patriarchate of Constantinople

    The Russian orthodox Church broke with the Patriarchate of Constantinople

    If finalized, it would challenge Russian Orthodox jurisdiction and dominance in Ukraine that dates back more than three centuries. George at the Ecumenical Orthodox Patriarchate in Istanbul, Turkey July 5, 2009.
  • Call of Duty: Black Ops 4 Earns $500 Million In Three Days

    Call of Duty: Black Ops 4 Earns $500 Million In Three Days

    The game is rated M for Mature (Blood and Gore, Drug Reference, Intense Violence, Strong Language). " Black Ops is back!" That's significant as successful launches aren't enough to dub a game a success these days.
    Three centre backs Manchester United should consider signing in January

    Three centre backs Manchester United should consider signing in January

    As a defensive midfielder, Ianni played in the lower leagues of Italian football . I understood that we were in the wrong side of the situation.
    Jose Mourinho won't 'celebrate like crazy' if Man United win at Chelsea

    Jose Mourinho won't 'celebrate like crazy' if Man United win at Chelsea

    Manchester United players are reportedly passing around clips of club legends making mistakes as they react to recent criticism. Shaw said: "If you look at my situation in the previous year , you would have thought this would have been impossible".
  • LeVeon Bell Wont Report To Steelers This Week

    LeVeon Bell Wont Report To Steelers This Week

    In fact, with the volume of conflicting rumors about Bell's eventual return, everyone should just act like he's never showing up. Despite that statement, as of Sunday, Bell had still not been in touch with team officials or players, sources told Schefter.
    Apple Finally Announces Day It Will Probably Announce Some New iPads

    Apple Finally Announces Day It Will Probably Announce Some New iPads

    Beyond tablets, the company is planning an entry-level Mac with a high-resolution screen to succeed the once-popular MacBook Air. Apple will hold a product announcement on October 30 in NY , where it will likely unveil new iPads and Mac computers.
    Witches will gather in Brooklyn to hex Brett Kavanaugh

    Witches will gather in Brooklyn to hex Brett Kavanaugh

    Since Kavanaugh was confirmed to the Supreme Court, Ford has said she doesn't wish for Democrats to attempt to impeach the judge. Christine Blasey Ford's testimony is going to help Democrats more than Republicans in the midterm elections .
  • Warren still has to answer for her ethnic identity theft

    Warren still has to answer for her ethnic identity theft

    As a black woman born in the Caribbean, I do not need a DNA test to prove my inclusion in the minority club. Then, a Stanford University genetics professor and adviser for Ancestry.com and 23andMe analyzes her test.
    Your Ball: So, what are your first impressions of Lakers?

    Your Ball: So, what are your first impressions of Lakers?

    The 33-year-old signed a four-year deal with the Lakers in the summer, earning a reported $154m (£118.2m ) over the term. "It takes some time to get that chemistry where you can just close your eyes and know exactly where guys are".
    YouTube back up after access problems

    YouTube back up after access problems

    Users across the world started to notice around 6.50 am (India time) that YouTube's desktop and mobile applications were down. The online video streaming service YouTube is up and running again after an outage lasting nearly two hours.

Purdue burns Ohio State with fake FG, which leads to TD Purdue burns Ohio State with fake FG, which leads to TD He sent his field-goal unit out onto the field, but instead of going for three he called for a fake that worked to perfection. That part of the game wasn't almost enough in a 49-20 loss to the Boilermakers in front of 60,716 at gusty Ross-Ade Stadium.

US Mega Millions jackpot hits $1.6bn US Mega Millions jackpot hits $1.6bn The jackpot beats the previous highest, for $1.586 billion Powerball, drawn on January 13, 2016. But when they do, the amount is mind-blowing - as we can see in recent Mega Millions jackpots.

Perry Funeral Home: Unburied fetuses, infants removed from second Detroit funeral home Perry Funeral Home: Unburied fetuses, infants removed from second Detroit funeral home PHOTO: The bodies of 11 infants were discovered at the shuttered Cantrell Funeral Home in Detroit on Friday, Oct. 12, 2018. The remains of 10 fetuses and an infant were found hidden in the ceiling of a former Detroit funeral home last week.

Apple iPhone Xr - South African pricing Apple iPhone Xr - South African pricing This is significantly lower than the XS and XS Max , and at par with the launch prices of last year's iPhone 8 and 8 Plus. With this model, the prices total up to RM3291, RM3491 and RM3951 for the 64GB, 128GB and 256GB models, respectively.

Pakistan beat Australia to claim biggest ever Test win and clinch series Pakistan beat Australia to claim biggest ever Test win and clinch series VideoMitchell Starc and Tim Paine combined for a stunning run out after the Pakistan batsmen thought they had hit a four. Coming into the final day, Australia had nine wickets in hand but had an improbable target of 538.

Conor McGregor's dad shows off his stuff in boxing ring Conor McGregor's dad shows off his stuff in boxing ring Khabib extended his unbeaten MMA record to 27-0 when defeating McGregor by a fourth round submission on October 7th. But UFC heavyweight champion Daniel Cormier, who is a teammate of Nurmagomedov, declared the match-up a joke.

Google boasts Titan M security chip in Pixel 3 Google boasts Titan M security chip in Pixel 3 Soon, the devices were listed for pre-orders on Flipkart, and today, they are up on Airtel e-store for pre-orders. The Google Pixel 3 and Pixel 3 XL are both available in Clearly White and Just Black colors.

UK PM reassures business leaders over Brexit UK PM reassures business leaders over Brexit Many EU leaders "see the delays as a negotiating tactic by London to try to force concessions", Nelson reported. But she said she had found "a very real sense that people want that deal done" among her fellow leaders.

President Trump Threatens Nightmare 1,500 Honduran Immigrants Marching to U.S. President Trump Threatens Nightmare 1,500 Honduran Immigrants Marching to U.S. Trump also informed that if necessary, he would deploy the U.S. military to its Southern border with Mexico to halt the migrants. Mexican officials said on Wednesday that those without papers would have to apply for refugee status or turn back.

Woman abandons toddler on stranger's doorstep! Woman abandons toddler on stranger's doorstep! Child Protective Services has since taken custody of the toddler and placed him in a foster home amid the ongoing investigation. It is not clear if she visited the father's home first and found it empty, or if she was mistaken as to his address.

Rihanna Turns Down Super Bowl to Support Kaepernick Rihanna Turns Down Super Bowl to Support Kaepernick She reportedly did so because she doesn't agree with NFL's stance on Colin Kaepernick . Previously, the Bronx Bomber said she would NOT do the Super Bowl.

Turkey suggests Khashoggi's remains taken out of consulate Turkey suggests Khashoggi's remains taken out of consulate Many top business executives have pulled out of the conference, which Saudi Arabia had hoped to use to boost its global image. Writing on Twitter, after meeting President Trump and Pompeo, Mnuchin said, "we have decided I will not be participating".

China To Launch 'Artificial Moon' To Illuminate City Streets China To Launch 'Artificial Moon' To Illuminate City Streets However, the exact details of the spacecraft, the launch date and how the artificial moon would be maintained were not revealed. The testing of the illumination satellite started years ago, and now the technology has finally matured, explained Wu.

IPhone XR hands-on: Colorful phones make a great first impression The caution could exist because of the weak demand and sale record of the already released iPhone XS and iPhone XS Max . The iPhone XR will have to be activated in the October 26-28 period, too, on Verizon, AT&T, or Sprint.

Canelo Alvarez inks $365M deal with streaming service DAZN Canelo Alvarez inks $365M deal with streaming service DAZN That deal included a total of 16 bouts each year across the U.S. on top of Matchroom's existing 16 fight nights in the UK. The signing of Alvarez kicks off the DAZN-boxing partnership with an exclamation point and plenty of zeroes.