China's domestic consumption has remained a strong contributor to the economy, helping drive it as the country has undergone economic restructuring in recent years - but last year it flagged, according to the latest official statistics released in Beijing on Friday.
The real estate sector's contribution to overall gross domestic product growth is likely to drop significantly in 2017, according to the head of the National Bureau of Statistics.
The macroeconomic data out of China was better than expected in 2016, due in large part to an expansionary fiscal policy, some rebound in the housing market and, true to form, an ample supply of credit. As a result, the weakness in the secondary sector was surprisingly contained. Credit losses were avoided; impairments have only gradually manifested in financial institutions' balance sheets. Deflationary pressures subsided as supply-side reforms gave life to producer prices, helping to support profit margins and reducing the debt burden.
China's regions which boast balanced economic structures took the lead in the growth stakes throughout last year, while more inner regions that used to lag behind are catching up through industrial upgrades, the latest regional economic data has showed.
Some hawkish members of the Donald Trump team have repeatedly adopted war-like rhetoric about the incoming administration's trade relations with China and other developing countries. They seem to want to send the message that other countries need the United States more than the other way round.
After months of havering, Prime Minister Theresa May recently announced that the United Kingdom plans to make a clean break from the European Union and not opt for "anything that leaves us half-in, half-out".
THE LEAKING OF A DOCUMENT by a provincial meteorological bureau, instructing its affiliated agencies to suspend issuing smog alerts, aroused fierce discussions online because people worry who could protect their health without the alert system. The China Meteorological Administration responded that they suspended the alerts because they have different standards to the environmental protection departments, and the two are now discussing the issue. Beijing News comments:
AN INCREASING NUMBER OF MIGRANT WORKERS, particularly those born in the 1980s and 1990s, are choosing to celebrate Spring Festival in the cities where they work instead of returning to their hometowns. Guangzhou Daily commented on Wednesday:
A TRAVEL AGENT in Southwest China's Yunnan province posted a notice saying that it was not accepting bookings from residents from certain places. Beijing News commented on Thursday:
When the United States gave up on the Trans-Pacific Partnership agreement, many saw it was more than the unwinding of a trade deal, and instead saw it as marking the limits of the Pax Americana.
The world is in a state of great upheaval and faces uncertainties on an unprecedented scale: The upcoming US administration has noisily announced a break with the past without indicating a clear new direction, the European continent is more divided than ever, strategic trust is at a low point, and breathless national governments are in most cases not even able or willing to discuss broader issues of global concern.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
