China last year attracted 520.6 billion US dollars of foreign investment.
Foreign investment in China + 81 % in 2020
China owns US
China-US trade rose 81.3% to $109.8 billion in Jan and Feb in US dollar terms, the Chinese National Bureau of Statistics reports. Chinese exports to the US could jump 20% in 2021. US is now China’s third largest trading partner, behind ASEAN and EU. US is bound to increase imports with the $1.9 trillion bonus.
While Reuter reports:
* Jan-Feb exports +60.6% yr/yr
* Jan-Feb imports +22.2% yr/yr
* Jan-Feb trade surplus $103.25 bln
* Feb exports +154.9% y/y, imports +17.3%
After Jan-Feb exports surge 60.6% in US dollar terms, Chinese exporters weigh price hikes to offset inflated raw material costs.
Thailand and UAE join China’s global digital currency push
China’s central bank said Wednesday it has joined its counterparts in Thailand and the United Arab Emirates to study the use of digital currencies in cross-border payments, a move that puts it closer to setting the global rules for international transactions handled in national virtual currencies.
China EU’s No.1 trading partner
China surpassed the US becoming the EU’s No.1 trading partner in 2020, the EU statistics agency Eurostat said on Monday. This was due to an increase in imports (+5.6%) and exports (+2.2%) with China. With the EU-China CAI making progress while the future of transatlantic trade remains unclear.
China’s FDI up 6.2% to record high in 2020
China poised to take over the US as the world’s top destinations for foreign investment in 2020. This is helped by the country’s ability to secure a stable production while the global supply chain is fractured by the coronavirus outbreak.
100 tln yuan
China’s GDP topped 100 tln yuan for first time, reaching 101.59 tln yuan with 2.3% y-o-y expansion in 2020, said NBS official on Mon. It is estimated to account for 17% of global total for the year, with China expected to become only major economy with positive growth in 2020.
China’s shipbuilding orders No.1
China’s 2020 new shipbuilding orders exceed South Korea’s, back to No.1 in world after two years.
The African Continental Free Trade Area
1-1-21 The African Continental Free Trade Area (AfCFTA) agreement will create the largest free trade area in the world measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion. It has the potential to lift 30 million people out of extreme poverty, but achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures.
China-EU bilateral investment treaty BIT
12-30-20 China-EU bilateral investment treaty BIT is a comprehensive, balanced and high-level deal marked by concrete rules and institutional openness, China’s Ministry of Commerce said at a briefing after the two sides announced Wed they had completed BIT negotiations on schedule.
China reports consumer deflation for first time since 2009
- China’s official consumer price index (CPI) fell to minus 0.5 per cent in November from a year earlier – down from 0.5 per cent growth in October
- The decline was driven by improvements in pork supply, but the mild deflation has not painted a ‘picture of consumer spending exuberance’, one analyst says
You go on Taobao, everything is cheap, cheaper than a few years ago. So I buy, buy and buy.