. Earth Science News .
TRADE WARS
China's December factory activity slows, recovery on track
by Staff Writers
Beijing (AFP) Dec 31, 2020

Factory activity in China slowed slightly in December, data showed Thursday, though it continued to grow as the world's second-largest economy stays on track to recover from the coronavirus crisis.

While the rest of the world has struggled to overcome the deadly virus, China has bounced back from a rare contraction in the first three months of the year and is expected to be the only major economy to avoid a recession this year.

The closely watched Purchasing Managers' Index (PMI) -- a key gauge of manufacturing activity in China -- dipped to 51.9 from 52.1 in November, the National Bureau of Statistics said. It was also slightly lower than the 52.o forecast by analysts.

The dip came as demand for Chinese exports was hit by fresh lockdowns and strict containment measures in key markets including Europe and the United States.

Still, NBS statistician Zhao Qinghe said the country's economic recovery "remained strong".

"The overall manufacturing sector maintained a steady recovery, with the pace at a relatively high level for the year," Zhao said.

The manufacturing PMI collapsed to a record low of 35.7 in February after the virus brought much of China to a standstill but economic recovery helped it bounce back to a three-year high in November.

The International Monetary Fund expects the Chinese economy to expand by 1.9 percent this year.

China's non-manufacturing PMI - a gauge of sentiment in the services sector - fell to 55.7 in December from 56.4 in November.

China has largely curbed the spread of the virus but a series of local outbreaks in cities including Beijing have reduced the number visiting restaurants, cinemas and other public venues.

These mini-outbreaks have also raised fears of reduced economic activity during the Lunar new year holiday in February.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
China orders Ant Group to return to online payment roots
Beijing (AFP) Dec 28, 2020
Chinese fintech giant Ant Group has been ordered by regulators to drastically change its business model and return to its roots as a payment services provider, as the state squeeze continues on the once unbridled empire of tech tycoon Jack Ma. China's central bank summoned Ant executives over the weekend and demanded the company "strictly rectify" its lending, insurance and wealth management services, according to a statement released on Sunday. The edict comes just weeks after Ant Group's recor ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Fukushima nuclear debris removal delayed by virus

Lives cut short: the American children lost to stray bullets

Biden introduces environment team to tackle 'existential threat'

Bleak Christmas for Iraqi refugees stuck in Jordan

TRADE WARS
Order and disorder in crystalline ice explained

Spontaneous robot dances highlight a new kind of order in active matter

Space bauble

NTU Singapore scientists invent glue activated by magnetic field

TRADE WARS
Scientists figure out how to make desalination membranes more efficient

DARPA selects teams to capture potable water from air

DARPA launches program to mitigate coastal flooding, erosion and storm damage

Ice sheet uncertainties could mean models underestimate sea level rise

TRADE WARS
Perfectly preserved wolf pup unearthed from Yukon permafrost

NASA finds what a glacier's slope reveals about Greenland ice sheet thinning

Water limitations in the tropics offset carbon uptake from Arctic greening

Giant A-68A iceberg loses chunk of ice

TRADE WARS
Austrians press EU to talk turkey, raise farm standards

Scientists suggested a way to measure soil properties at any depth without digging

Climate change ravages Kashmir's 'red gold' saffron crop

Lab-grown meat makes historic debut in Singapore

TRADE WARS
Evidence of ancient tsunami uncovered on Israeli coast

Dilapidated buildings cause jitters in quake-prone Cyprus

Deep, slow-slip action may direct largest earthquakes and their tsunamis

Deadly Fiji super cyclone sparks disease fears

TRADE WARS
Explainer: What is the Sahel and why is it so important?

Niger: Five things to know

Sudan probes 'first' senior officer over deadly protest crackdown

Rwanda deploys troops to C.Africa: defence ministry

TRADE WARS
Researchers use DNA to track original settlers of Caribbean islands

Over half of Chinese adults now overweight: official

The world's oldest story? Astronomers say global myths about 'seven sisters' stars may reach back 100,000 years

Ancient DNA suggests people from Philippines may have settled Mariana Islands









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.