China’s economy grew better than expected in the first quarter and market confidence was raised in
an outstanding way, according to a statement from a meeting presided over by President Xi Jinping on Friday.
During the meeting of the Political Bureau of the Communist Party of China Central
Committee, members analyzed the current economic situation and made plans for economic work.
In the first quarter, government departments pushed forward high-quality growth, deepene
d supply-side structural reform and carried out positive fiscal policy and stable monetary policy, the statement said. Main mac
roeconomic figures were in proper range, and reform and opening-up was pushed forward continuously, it said.
The statement said lots of difficulties and problems remain in economic development, with m
ore tension in the external economic environment and downward pressure on the domestic economy. Government departments shou
ld remain steadfast and be brave in overcoming difficulties in economic development, it said.
such an unfriendly and offensive manner,” Wang said, adding t
hat Washington’s decision shows that the country has become an “oversensitive and
paranoid one which has a lack of confidence in dealing with diplomatic relations”.
A number of Chinese social scientists have had similar experiences when their US visas were revoked.
Zhu Feng, executive director of the China Center for Collaborat
ive Studies of the South China Sea at Nanjing University, told the Global Times news
paper in Beijing that his 10-year US visa was crossed out by FBI agents, canceling it, whe
n he was about to board a flight back to Beijing at Los Angeles International Airport in March 2018.
Zhu said the FBI first threatened to revoke his visa if he did not cooperate with their inquiry.
“‘Go back to China’,”Zhu recalled an agent telling him during that visit. “You will receive a notification.”
this”, in the form of an incomplete and inaccurate understanding of China by barring scholars wh
o have great familiarity with US politics and policymaking and have the ear of Chinese officials.
Douglas H. Paal, vice-president of the Asia Program at the Carn
egie Endowment for International Peace, said it appears that the scholars who best unders
tand the US and communicate well with China’s leaders are being denied visas or threatened with denial.
“I don’t see how this is in America’s interest,” Paal said.
Some US media have mentioned that China also denies visas to
US academics, but Taylor and Paal said that has not been
their experience when applying for Chinese visas to visit China for academic exchanges.
In a news conference on Thursday, when asked if China rejected a visa application fr
om an adviser to US President Donald Trump, Foreign Ministry spokesman Lu Kang
said Chinese embassies and consulates overseas always handle visa applications according to law.
China welcomes cultural exchanges between China and the US an
d will actively promote mutual understanding between the two countries, Lu said.
me period. The value-added high-tech sector’s out
put rose by 7.8 percent, higher than the country’s value-added industrial output.
In the first quarter, the NDRC approved 50 fixed asset investment projects, mainly in th
e fields of energy, transportation and high-tech. The total investment hit 370.3 billion yuan ($55.3 billion).
The NDRC reportedly is considering a slew of new measure to boost spending on automob
iles, home appliances and consumer electronics products. People close to the NDRC said it has sent a draft plan to
encourage consumption in the three sectors, according to a report in the National Business Daily.
The news caused shares of home appliance companies traded in Shanghai and Shenzhen to increase
by 1.47 percent on Thursday, according to Shanghai-based information provider Wind Info.
China’s economy, despite headwinds, has enjoyed a good start in the first quarter of 2019, and the country has the confide
nce to achieve the annual projected growth goal, said the country’s top economic planner.
“The first quarter’s stable economic development has laid a solid foundation for the an
nual growth,” said Yuan Da, spokesperson with the National Development and Reform Commission.
“The economy has stayed on the track of steady growth. We have the confidence, conditio
ns and capability to meet the projected targets for economic and social development this year.”
Yuan made the remarks at the NDRC press conference on Thursday in Beijing.
According to data from the National Bureau of Statistics, China’s economy expanded at a faster-than-expected 6.4 perce
nt year-on-year in the first quarter. The growth was unchanged from that in the fourth quarter in 2018.
hina’s economic growth will remain stable in the first quarter, and is expected to land at 6.3 percent or even higher year-on-year when it is released this week, e
conomists said after some economic indicators for March surprised the market on the upside.
“Downside pressure began to ease in the first quarter, as signaled by the r
ather substantial recovery in various economic indicators in March,” said Yao Jingyuan, form
er chief economist at the National Bureau of Statistics and a researcher for the Counselors’ Office of the State Council.
Chinese banks’ lending in yuan, a leading indicator for the real economy
, surged in March by 1.69 trillion yuan ($252 billion), up 52 percent from a year earli
er, according to the People’s Bank of China, the central bank. The manufacturing purchasing managers inde
x for March, which was back into expansion territory, may be a sign of accelerating industrial activities.
Exports in March also picked up, rising 14.2 percent in US dollar ter
ms from a year ago, versus 0.1 percent for the January-February period, customs data showed.
ons in many aspects, and based on those data, China’s year-on-year GDP gr
owth rate in the first quarter may reach 6.3 percent or a bit higher,” said Liu Chun
sheng, an associate professor of economics at the Central University of Finance and Economics in Beijing.
Improved market expectations resulting from progress in the Sino-US trade talks and Beijing’s tax and
fee cut plan, as well as eased liquidity, have helped to offset negative effects of the traditional Spring Fes
tival holiday and downside pressure that continued from the end of last year, Liu said.
China has set this year’s GDP growth rate target at 6 percent to 6.5 perce
nt, after registering full-year growth of 6.6 percent in 2018 and 6.4 percent in the fourth
quarter. The NBS is scheduled to announce the country’s first-quarter economic growth data on Wednesday.
JD Logistic, the logistics arm of the Beijing-based tech heavyweight JD
.com, will cancel the basic salary for delivery staff , CEO and Chairman Liu Qiangdong said i
n response to arguments on the company’s salary adjustments in an internal email sent on Monday.
JD Logistics lost over 2.3 billion yuan ($342.9 million) in 2018, its 12th consecut
ive year to lose money. If the situation continues, Liu said, the company would only last for two more years.
If internal settlements are deducted, JD Logistics lost more than 2.8 billion yuan last year.
The main reasons for the loss are few external delivery orders and high internal costs, Liu said.
The company has only two choices, according to Liu: one, increase external delivery orders to promote external inco
me growth; the other, reduce staff members’ well-being to the level of other express companies.
Reducing fund ratios to average levels and canceling the basic salary a
ims to encourage couriers to get more external delivery orders and increase revenue.
way in social and economic development, leaders from China and the CEECs voiced support fo
r moving forward practical cooperation in the development of the China-Eur
ope Land Sea Express Line and making use of European Union (EU)-Chin
a Connectivity Platform to promote development of intermodal freight transportation.
Taking note of the Three Seas Initiative, the participants to the leaders’ meeting expressed their welcome to port cooperat
ion between China and the CEECs, including the opportunities deriving from inland waterways and the interm
odal connections to further enhance the cargo transportation between Asia and Europe.
Leaders from China and the CEECs also expressed their willingness to explo
re the possibilities of establishing a China-CEEC Customs Information Center in Hungary and
their support for the holding of the 5th China-CEEC Transport Ministers’ Meeting in 2020 in Croatia.
question whether the US is really trying to improve the DPRK-US relationship and it is wondering whe