CNY News

China's manufacturing sector defied expectations for expansion in November as the purchasing managers' index fell its lowest level in six months, preliminary figures from HSBC and Markit Economics revealed on Thursday.

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China's manufacturing sector was stagnant in November, the latest survey from HSBC Bank showed on Monday with a PMI score of 50.0.

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The services sector in China continued to expand at a slightly faster rate in November, the latest data from HSBC Bank revealed on Wednesday, with a PMI score of 53.0.

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China posted a merchandise trade surplus of $54.47 billion in November, the Customs Office said on Monday.

That was well above forecasts for $41.00 billion following the $45.41 billion surplus in October.

Exports added 4.7 percent on year, shy of forecasts for 9.0 percent following the 11.6 percent surge in the previous month.

Imports tumbled an annual 6.7 percent versus forecasts for 4.0 percent after gaining 4.6 percent a month earlier.


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China will on Tuesday see preliminary December figures for the manufacturing PMI from HSBC, highlighting a modest day for Asia-Pacific economic activity.

The index is expected to slip into contraction with a score of 49.8, down from 50.0 in November.

Japan also will see December data for the manufacturing PMI from Markit Economics; in November, the index had a score of 52.0.

The Reserve Bank of Australia will release the minutes from its monetary policy meeting on December 2; at the meeting, the central bank kept its benchmark lending rate unchanged at 2.50 percent.


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Confidence among Chinese businesses increased in December, the results of a survey by MNI Indicators showed Wednesday.

The MNI business sentiment index, a measure of current business expectations, for China rose to 56.2 in December from 55.2 in November.

The index has been expanding since January 2009. A reading above 50 signals expansion.

Meanwhile, the index measuring perceptions on future business conditions edged down to 59.4 in December from 59.6 in November.

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Chinese industrial profits declined at the fastest pace in 27 months in November, official data revealed Saturday.

Industrial profits fell by 4.2 percent from last year to CNY 676.12 billion, the biggest decrease since August 2012, the National Bureau of Statistics reported. Profits were down 2.1 percent in October and rose 0.4 percent in September.

The statistical office attributed the decline in November profits to weak industrial products sales and the decrease in producer pricing power.

For January to November, industrial profits advanced 5.3 percent from the same period of last year. But this was slower than the 6.7 percent increase seen during January to October period.

In the coal mining sector, profits plunged 44.4 percent and decreased by 13.2 percent in the oil and gas industry during the first 11 months.

On the other hand, electrical and equipment manufacturing logged an annual growth of 15.1 percent. Likewise, profits of the telecommunication sector surged 20.7 percent.

The state-owned enterprises reported a decline in profit of 3.5 percent, while companies with foreign funding registered an annual double-digit growth of 10.3 percent. Total profit of private firms gained 7.2 percent.


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The slowdown in the Chinese factory sector was confirmed by results of a survey on Thursday that showed that activity almost stagnated in the final month of last year, while growth improved for a second straight month in the non-manufacturing sector.

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China's central bank took further initiatives to improve smooth flow of funds to depressed sectors of the economy after bank lending missed expectations in December. The People's Bank of China said Friday it will raise its re-lending quota for farm and small companies in order to provide funds at lower costs. The central bank will lend CNY 50 billion to banks at discounted rates.

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China's industrial production grew more than expected in December, data from the National Bureau of Statistics showed Tuesday.

Industrial production rose 7.9 percent year-over-year in December following the 7.2 percent growth in November. Economists had expected production to rise 7.4 percent.

Among the sub-sectors, manufacturing output increased 8.9 percent. Output in the mining industry and the electricity, heat, gas and water production and supply industry advanced 3.4 percent and 3.7 percent, respectively.

On a month-over-month basis, industrial production rose 0.75 percent in December.

In the January to December period, production grew 8.3 percent over the corresponding period of the previous year, more than the 8.2 percent consensus estimate.


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