The consumer price index (CPI) in China rose 1.3 percent year-on-year in May, while factory gate prices or PPI surged 9 percent, the fastest annual pace in over 12 years, according to official data released on Wednesday. Bets on a global economic recovery and easing US monetary policy have pushed up international bulk commodity prices, experts said.
The fierce new COVID-19 wave across Southeast Asia - home to about one-fourth of the world s population - has prompted some manufacturing orders originally sent to the region to shift to China in recent months, in what could be the start of a long-term trend of production relocation as a result of the pandemic, according to factories and industry analysts.
China’s retail sales up 17.7% in April, indicating economy gaining strength
China’s retail sales of consumer goods, a major indicator of consumption growth, grew 17.7 percent year-on-year in April, as consumption-driven post-pandemic recovery is gaining pace in the world’s second largest economy.
In the month, retail sales of consumer goods reached 3.32 trillion yuan ($515.9 billion), up 0.32 percent month-on-month, data from the National Bureau of Statistics (NBS) showed on Monday.
In the first four months of 2021, China’s retail sales of consumer goods grew 29.6 percent year-on-year to reach 13.84 trillion yuan. Meanwhile, e-commerce has kept brisk as Chinese consumers are increasingly embracing the new shopping habit, with online sales up 27.6 percent year-on-year in the first four months.
Economy gravity shifts to high-tech, luxury, healthcare, travel sectors Photo: Xinhua
While Western media has been hyping how China’s growing gray population will bring a looming economic crisis to the Communist Party of China, the fact that China’s population dividend will pick up and sustain its rosy economic expansion may disappoint them.
The future of the world’s second-largest economy, in their articles, is at the verge of collapsing, with a draining labor force undermining core competitiveness, disrupting social structure and pushing away foreign investment.
However, observers have painted a drastically different picture. They noted the demographic change will herald a time when China moves from “working to meet global demand” to “the world sparing no efforts to cater to China’s tastes [burgeoning demand for quality products],” and such sheer size of the market will keep expanding with the rise of disposable i
China s demographic dividend persists to underpin economy despite shrinking workforce
Li Xuanmin and Qi Xijia Published: May 11, 2021 09:53 PM
Photo: Xinhua
While Western media has been hyping how China s growing gray population will bring a looming economic crisis to the Communist Party of China, the fact that China s population dividend will pick up and sustain its rosy economic expansion may disappoint them.
The future of the world s second-largest economy, in their articles, is at the verge of collapsing, with a draining labor force undermining core competitiveness, disrupting social structure and pushing away foreign investment.
However, observers have painted a drastically different picture. They noted the demographic change will herald a time when China moves from working to meet global demand to the world sparing no efforts to cater to China s tastes [burgeoning demand for quality products], and such sheer size of the market will keep expanding with the rise of di