China Economy Forum

[AndrewJin]

China needs more of that sort of box office smashers. And such success must be over-publicized.

I'm waiting for Lost in HK available right before National Day. Lost in Thailand(same series) was the last box office record before Monster Hunt. Low cost, but I'm sure the box office will be at least 1.5 billion yuan, even 2 billion yuan I won't be surprised. At least 30-50 million Chinese will watch it.

 

[Aepsilons]

China deflation fears grow as producer prices sink most in six years

China's manufacturers slashed prices at the fastest rate in six years in August as commodity prices fell and demand cooled, signaling stubborn deflation risks in the economy and adding to expectations for further stimulus measures.

The producer price index (PPI) fell 5.9 percent in August from the same period last year, its 42nd consecutive month of decline and the biggest drop since the depths of the global financial crisis in late 2009, data showed on Thursday.

The market had expected a decline of 5.5 percent after a drop of 5.4 percent in July.

"The change in PPI is very worrying. It could affect corporate profitability, which in turn could affect consumption and the economy," said Li Huiyong, economist at Shenyin & Wanguo Securities.

"We must step up policy support."

The consumer price index (CPI) rose 2 percent from a year earlier to a one-year high, the National Bureau of Statistics said, but the gain was due largely to soaring food prices, not an improvement in economic activity.

Analysts polled by Reuters had predicted CPI would rise 1.8 percent, compared with 1.6 percent posted the prior month.

Indeed, non-food inflation remained subdued at 1.1 percent, unchanged from July.

"The risk for China is still deflation, not inflation. PPI deflation will eventually filter down to affect CPI, and aggregate demand will continue to be weak," said Kevin Lai, chief economist Asia Ex-Japan at Daiwa, adding his firm had just cut its 2016 CPI forecast to -0.5 percent from 0.5 percent.

"In addition all the capital outflows (due to the slowing economy) will force the PBOC to continue purchasing yuan, which is hugely destructive to the monetary base," he said.

VICIOUS CYCLE

Continuously falling producer prices are eating into profits at many Chinese firms and raising the relative burden of their debts. Official and private factory surveys last week also showed manufacturers laid off workers at a faster rate last month as their order books shrank.

The central bank has cut interest rates five times since November and more reductions are expected in coming months, but many economists believe real rates are still too high, discouraging new investment.

Economists at ANZ said further policy easing is needed soon to head off the risk of a vicious cycle of slower growth and deflation. They expect the central bank to cut banks' reserve requirements (RRR) by another 50 basis points by year-end.

Data earlier this week showed imports tumbled more than expected in August while exports shrank again, pointing to persistently weak demand both at home and abroad.

Other data from China this week - including industrial output and investment on Sunday - are likely to be downbeat, keeping financial markets on edge. Fears of a China-led global slowdown have grown in recent weeks after a series of grim factory activity surveys.

The government is also still struggling to stabilize the yuan after its surprise devaluation of the currency on Aug. 11 and halt a stock market rout that has seen the country's share indexes plunge 40 percent since mid-June.

Analysts say weak data over the summer is putting Beijing's official 7 percent growth target for this year at risk.

That level would mark China's weakest expansion in a quarter of a century, but some economists believe current growth levels are already much weaker than official numbers suggest.

The chairman of the National Development and Reform Commission (NDRC) said on Wednesday that China's economic fundamentals are healthy while still facing relatively large downward pressure.

Separately, the finance ministry said on Tuesday that it will strengthen fiscal policy, boost infrastructure spending and speed up reforms to support the economy.

China deflation fears grow as producer prices sink most in six years| Reuters

Let's hope for the best.

 

[Place Of Space]

I'm waiting for Lost in HK available right before National Day. Lost in Thailand(same series) was the last box office record before Monster Hunt. Low cost, but I'm sure the box office will be at least 1.5 billion yuan, even 2 billion yuan I won't be surprised. At least 30-50 million Chinese will watch it.

Hahh, Lost series, lost in Thailand, lost in HK, lost in Malaysia, lost in South Africa, lost in Brazil, lost in Pakistan, lost in Norway, lost in Fiji,...lost in everywhere. From the series, they can introduce comprehensive overseas culture to Chinese audiences.

 

[cirr]

The Dragon。

Stable growth with a moderate level of inflation。

China CPI rises at fastest pace since Aug 2014, beats expectations

Thu, Sep 10 2015, 03:20 GMT | FXStreet

FXStreet (Mumbai) - Chinese price pressures picked up in August, with consumer prices rising at the fastest pace since August 2014, however, the factory gate prices fell at the quickest pace in six years last month.

According to the National Bureau of Statistics (NBS), China's CPI rose 2.0% y/y in August,, the fastest pace in a year, and beating the market forecast of a 1.9% rise.

Pork prices were the main positive contributor to the CPI last month, surging 19.6% y/y in August. Food prices overall were up 3.7% on annual basis.

While, the Producer Price Index (PPI), which tracks the change in prices of goods as they leave the factory gate, fell at the fastest rate in almost 6 years last month; down 5.9% y/y. Markets expected the price gauge to decline 5.6% in August.

China CPI rises at fastest pace since Aug 2014, beats expectations

 

[badguy2000]

Yeah, I've read the first two books of the three book series.

Hollywood definately would do a better job(and cost a lot more), but you've got to start somewhere, if you are going to someday be like the big boys.

I have read all 3 books of the series... it is indeeed wonderfull and has changed my view of the universe....
the universe is full of trapes...blindly exploring the universe might cause doomday of the human kind.....


BTW, it is originally written in CHinese, so english version can not be as wonderful as CHinese version,due to translation.

 

[zeronet]

is it a strong signal for the vibrant consuming oriented growth? 50% box office increase won't happen in the times of economy crisis.

 

[AndrewJin]

is it a strong signal for the vibrant consuming oriented growth? 50% box office increase won't happen in the times of economy crisis.

Consumption!
China's economy is now more and more consumption-based.
Imagine, if one day a Chinese movie can attract 0.5 billion Chinese to watch!
（Monster Hunt 65 million by Aug.)
There are more than 60 cinemas in my city and the number is still rapidly increasing.

 

[bobsm]

I have read all 3 books of the series... it is indeeed wonderfull and has changed my view of the universe....
the universe is full of trapes...blindly exploring the universe might cause doomday of the human kind.....


BTW, it is originally written in CHinese, so english version can not be as wonderful as CHinese version,due to translation.

Yes, these wonderfully written books are also quite thought provoking.

The english version of the third and final book will be out next year. I'm currently reading the Chinese version that I just received recently, but will also read the english one when it comes out.

 

[Masood Khan 1]

Three body problem" is really a wondeful fiction.....

 

[AndrewJin]

Good news!

 

[TaiShang]

China contributes 30% to global growth in H1
September 10, 2015

China contributed around 30 percent to world economic growth during the first half of this year, Chinese Premier Li Keqiang said on Thursday, adding that the world's second largest economy will not take a "hard landing".

Speaking at the opening ceremony of the annual summer meeting of the World Economic Forum in northeastern Dalian city, Li said China's 7 percent growth during the first half of this year was not an easy achievement amid a slowing world economy.

He said a seven percent rise for a 10 trillion dollar economic base is much bigger than the 10 percent growth of a smaller economy in the past, placing China among the world's top major economies.

MORE CONSUMPTION

A more encouraging sign, according to Li, is that the country's economy is more oriented toward consumption, which accounts for half of China's economic output and 60 percent of growth.

Though economic growth moderated to 7 percent in the first half, retail growth in China has risen more than 10 percent so far this year. Household disposable income has also outstripped economic growth, Li said.

Employment growth exceeded 7.18 million during the first half of this year, or 72 percent of the 10 million target set for the whole year.

"I have repeatedly said that as long as there is adequate employment, a steady rise in incomes and an improving environment, slower or faster growth is acceptable," Li said.

More than 100 million Chinese travelled abroad last year and the number of visitors rose 10 percent in the first six months of this year. Chinese tourists have demonstrated strong purchasing power abroad.

At home, consumption of information, culture, health and tourism services is strong. Energy conservation, environmental protection and the green economy are also emerging to create new growth drivers, according to Li.

NO HARD LANDING

Li also said the Chinese government is capable of dealing with the consequences of growth sliding out of reasonable range and that the Chinese economy will not have a "hard landing".

Despite slower foreign trade value growth, imports of commodities have grown in volume and the country's foreign direct investment will also continue to grow at a fast pace, Li said.

The Chinese economy is changing gears. Its vast manufacturing sector is upgrading and the economy is changing from relying heavily on investment to coordinated growth from both investment and consumption.

Li said fluctuation in growth at a time when the economy is undergoing a painful, difficult transition is normal and should not be a surprise.

"We are making targeted adjustments to the economy to reduce fluctuation in the short term and prevent risk contagion from overflowing." Li said.

***

Another case of China's inclusive development.

@tranquilium , @terranMarine , @Jlaw , @bolo , @AndrewJin , @cirr et al.

 

[TaiShang]

Closer Seoul-Beijing ties bring prosperity
By Wang Sheng -- 2015-9-9


The nominee president of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun visited South Korea earlier this week. During the trip, he highlighted the significance of the multilateral development bank and discussed future cooperation with South Korean officials and enterprises.

Jin picked South Korea for his first trip, out of all the 57 founding members, because of the pivotal role that the nation is expected to play in the AIIB. The multilateral development bank, focusing on the infrastructure development in the region, is closely connected to China's "One Belt, One Road" initiative.

South Korean President Park Geun-hye has proposed the Eurasia Initiative in 2013, aiming to enhance connectivity among logistics, transportation, information and communication technology and energy networks in the region.

These two trade initiatives share similarities and can be linked up on the AIIB platform. Seoul's experience, as well as its financial and technical support, has a special significance for the future of the AIIB.

In addition, the Korean Peninsula is expected to play an indispensible role in the regional infrastructure development, as well as the future integration of East Asia. The Korean Peninsula ought to be included in the east end of the "One Belt, One Road" initiative. This will accelerate the establishment of the East Asia Free Trade Area and facilitate the development of the Tumen River, which runs along China's border with North Korea.

Economic cooperation will also make reconciliation in the region easier to realize.

Other clues for closer Beijing-Seoul ties are easy to find. Lately, Park, despite pressure from both home and abroad, accepted the invitation to participate in China's V-day parade to celebrate the 70th anniversary of the end of WWII. She also brought the largest ever South Korean economic delegation to Beijing.

The bilateral free trade agreement has been signed in June, which was completed only three months after the two sides announced a conclusion of negotiations. All these is strong evidence for a warmer China-South Korea relationship.

The stronger ties between the two sides are not surprising. With the development of China's economy, Seoul is increasingly dependent on Beijing. South Korea's trade volume with China has far exceeded that with the US.

Park's government has been in a diplomatic dilemma in recent years. In the past, the ideal approach for Seoul was to balance its relationship with Beijing with its alliance with Washington.

However, the nation's increasingly economic dependence on China means that, for Park's government, China will carry more weight than before in the policymaking process. In addition, the development of the Beijing-Seoul relationship is based on the historical linkage over security in Northeast Asia. Preventing Japan's re-militarization is a shared political foundation for the two sides to cooperate.

Beijing's closer ties with Seoul may become a concern for Pyongyang. However, it should be stressed that the warmer China-South Korea relationship will facilitate the improvement of the bilateral relations between two Koreas.

Under the influence of China, South Korea may gradually begin improving its relations with the North. Pyongyang, meanwhile, will be less suspicious and mistrustful of Seoul following the efforts made by the South Korean government.

It has already been more than 20 years since Beijing and Seoul established a diplomatic relationship. It turns out that China's fast-developing relationship with South Korea has not influenced its friendship with the North, nor has it shaken the political foundation of China-North Korea relationship. The warming Beijing-Seoul ties will create a virtuous circle for the development of trilateral relationship.

The closer Seoul and Beijing become, the more difficult Washington's re-balancing policy in the Asia-Pacific region will be. The US has long been attempting to take advantage of its alliances with Japan and South Korea in order to target China. Admittedly, South Korea may have to bear some pressure from the US.

However, Seoul's diplomatic strategy will become more diverse if it continues its warm relationship with Beijing. The closer China-South Korea relationship is not only good for the two countries, but also beneficial to the peace and prosperity of the region.

 

[TaiShang]

S.Korean film ‘Assassination’ aims to make a killing in China
By Li Jingjing -- 2015-9-9 18:28:01

A still from South Korean film Assassination Photo: CFP

Patriotic period films rarely become box office winners, yet South Korean film Assassination won both critical acclaim as well as a hefty box office in its home country.

"There were no successful examples in South Korea before this. This film doesn't try to force audiences to feel patriotic. I wanted to make a film that had continuous tension," the film's director Choi Dong-hun told the Global Times at a press meet in Beijing on Tuesday.

After premiering on July 22 in South Korea, the film soon broke the 10 million admissions mark in just 25 days and eventually received 12.5 million admissions overall, the sixth South Korean film to do so in the country's film history.

Now, just a few days after South Korean President Park Geun-hye attended China's military parade commemorating the 70's anniversary of the end of WWII, Assassination has been scheduled to hit Chinese screens on September 17.

Anticipation

Although the film hasn't officially hit Chinese cinemas, it already has high ratings (8.4/10) and positive reviews on Chinese media site douban.com.

Many of those who have already seen the film have praised the film's storyline and the performances of the actors, saying that the cast has successfully transformed a patriotic period film into an "idol drama."

Although the film depicts Koreans fighting against Japanese invaders, it also has a deep connection to China as well. The film is set in the 1930s, a time when Korea was under Japanese control and many resistance fighters chose to make Shanghai their stronghold.

To help maintain historical accuracy, many of the film's scenes were filmed in studios in Shanghai.

"I heard China has many films set in this period. But this is a film about what other countries did during this period, so I trust Chinese audiences will be interested," Choi said.

Perfect choiceAssassination gathers several A-list stars famous across Asia, Gianna Jun, Lee Jung-jae and Ha Jung-woo. Jun especially gained ultra-high popularity in China through her film My Sassy Girl (2001) and TV drama My Love from the Star (2014).

Also starring Jun and Lee, Choi's previous film The Thieves (2011) was also a record-breaker in South Korea. The Thievesbroke several box-office records to become the No.1 South Korean box office winner of all time (a record later broken by 2014's The Admiral Roaring Currents). A coproduction with a Chinese studio and also featuring Chinese actors, the film was also a success in the Chinese market.

Now one of South Korea's box-office winning directors, Choi said that he began thinking about making a film likeAssassination almost nine years ago. However, it wasn't until he was preparing for The Thieves that he felt he found the perfect actress for the film in Jun.

Although she played an out-going and pretty character in The Thieves, Jun's inherent calmness and steadiness surprised the director. Jun soon became his ideal choice for Assassination's main character - the sniper the majority of the plot revolves around.

Choi also revealed he liked Lee's performance during the first day of filming The Thieves that he decided he wanted to work with him again so he could see a different side of the actor.

Lee has earned fame and awards for his performances in films like A Love Story (2000) and The Face Reader (2013). He plays a double agent in Assassination.

"I believe everyone has two-sides. It's my way of acting that when I'm playing a funny and out-going person, I like to add some loneliness as well. But when playing a character with deep emotions, I tend to treat them as more out-going," Lee, who was also at the event, said.

Known for his outstanding films The Chaser (2008), The Yellow Sea (2010) and The Terror Live (2013), Ha is no stranger to China.

In 2014, Ha adapted famous Chinese novel Xu Sangguan Mai Xue Ji by Yu Hua into feature film Chronicle of a Blood Merchant, which he directed and played the main character.

"Chinese literature is inexhaustible. China is a very interesting country. Yu Hua's novel surprised me. I hope to have more opportunities to adapt more Chinese works," Ha said.

The film has received mixed reviews outside South Korea, with some praising the film's actions scenes and others criticizing the story as being too complicated. The Village Voice called the film an "overstuffed historical mega-production that Hollywood doesn't make anymore."

However, considering the shared history between China and South Korea, the popularity of the cast in both countries and previous market successes, it seems Assassination is set for a promising future in the Chinese market.

***

Please do remember: South Korean movies are not considered foreign, hence, there is no quota unlike the one placed on other foreign productions.

 

[TaiShang]

Chinese city to sell goods online to Muslim world
Sep 10,2015
By Hou Weiping


BEIJING, Sept. 10 (Xinhuanet) -- Millions of made-in-China products may get parceled and reach the Muslim world by international mail, as China vows to make Yinchuan, a city in Northwest China's Ningxia Hui autonomous region , a cross-border e-commerce hub.

Great effort should be made to develop cross-border e-commerce in Yinchuan, the country's cloud computing frontline, and introduce more Chinese goods to the Arab and Muslim world via the Internet, said Xu He, deputy head of the publicity department of the Ningxia Party Committee, ahead of the Digital Silk Road Forum at the two-day 2015 China-Arab States Expo which began in Yinchuan on Thursday.

Yinchuan, the permanent site for China-Arab Expo, also plans to build an O2O platform for Arab direct distributors to sell packaged goods to Chinese customers, according to a government release in August 2014.

Since 2013, Yinchuan has launched two major cloud computing programs, with a total investment of 740 million yuan ($115.89). With an ambitious plan to install 2.1 billion servers – parts of the computer network which store or process information for the network, local officials said they are confident that the city has the facilities, infrastructure and environment needed to build a major cross-border e-commerce platform.

"Ningxia's data collecting and cloud computing platforms are an advantage for the development of e-commerce businesses in the region, including cross-border e-commerce,"said Xu.

Cross-border e-commerce in China has reaped a turnover of 3.1 trillion yuan in 2013, or 12.1 percent of the total imports and exports that year, according to the Ministry of Commerce. The ministry estimated that in 2016, the total turnover will reach 6.5 trillion yuan, 16.9 percent of the total imports and exports. That means an average increase of 30 percent.

 

[Keel]

China deflation fears grow as producer prices sink most in six years

China's manufacturers slashed prices at the fastest rate in six years in August as commodity prices fell and demand cooled, signaling stubborn deflation risks in the economy and adding to expectations for further stimulus measures.

The producer price index (PPI) fell 5.9 percent in August from the same period last year, its 42nd consecutive month of decline and the biggest drop since the depths of the global financial crisis in late 2009, data showed on Thursday.

The market had expected a decline of 5.5 percent after a drop of 5.4 percent in July.

"The change in PPI is very worrying. It could affect corporate profitability, which in turn could affect consumption and the economy," said Li Huiyong, economist at Shenyin & Wanguo Securities.

"We must step up policy support."

The consumer price index (CPI) rose 2 percent from a year earlier to a one-year high, the National Bureau of Statistics said, but the gain was due largely to soaring food prices, not an improvement in economic activity.

Analysts polled by Reuters had predicted CPI would rise 1.8 percent, compared with 1.6 percent posted the prior month.

Indeed, non-food inflation remained subdued at 1.1 percent, unchanged from July.

"The risk for China is still deflation, not inflation. PPI deflation will eventually filter down to affect CPI, and aggregate demand will continue to be weak," said Kevin Lai, chief economist Asia Ex-Japan at Daiwa, adding his firm had just cut its 2016 CPI forecast to -0.5 percent from 0.5 percent.

"In addition all the capital outflows (due to the slowing economy) will force the PBOC to continue purchasing yuan, which is hugely destructive to the monetary base," he said.

VICIOUS CYCLE

Continuously falling producer prices are eating into profits at many Chinese firms and raising the relative burden of their debts. Official and private factory surveys last week also showed manufacturers laid off workers at a faster rate last month as their order books shrank.

The central bank has cut interest rates five times since November and more reductions are expected in coming months, but many economists believe real rates are still too high, discouraging new investment.

Economists at ANZ said further policy easing is needed soon to head off the risk of a vicious cycle of slower growth and deflation. They expect the central bank to cut banks' reserve requirements (RRR) by another 50 basis points by year-end.

Data earlier this week showed imports tumbled more than expected in August while exports shrank again, pointing to persistently weak demand both at home and abroad.

Other data from China this week - including industrial output and investment on Sunday - are likely to be downbeat, keeping financial markets on edge. Fears of a China-led global slowdown have grown in recent weeks after a series of grim factory activity surveys.

The government is also still struggling to stabilize the yuan after its surprise devaluation of the currency on Aug. 11 and halt a stock market rout that has seen the country's share indexes plunge 40 percent since mid-June.

Analysts say weak data over the summer is putting Beijing's official 7 percent growth target for this year at risk.

That level would mark China's weakest expansion in a quarter of a century, but some economists believe current growth levels are already much weaker than official numbers suggest.

The chairman of the National Development and Reform Commission (NDRC) said on Wednesday that China's economic fundamentals are healthy while still facing relatively large downward pressure.

Separately, the finance ministry said on Tuesday that it will strengthen fiscal policy, boost infrastructure spending and speed up reforms to support the economy.

China deflation fears grow as producer prices sink most in six years| Reuters

OMG, into the arms of the bloody sun, I am in bloody tears crying bravo for the "doctor of hypocrisy" scaling a new height!

FDI keeps increasing in August[1]|chinadaily.com.cn
Return of the Dragon: China FDI inflow surges 22 pct in August'
China CPI rises at fastest pace since Aug 2014, beats expectations
China contributes 30% to global growth in H1

The scumbags do their level best trying to talk down China while totally ignoring what a total smelly mess their own sh1thole is.

Hahaha, precisely the Indians Jpnese Vietcongs Apus ...