Pubblicato in: Cina, Economia e Produzione Industriale

Cina. Luglio21. Macrodati confortanti. – National Bureau of Statistics.

Giuseppe Sandro Mela.

2021-08-22.

2021-08-17__ Cina Macrodati 001

Il National Bureau of Statistics of China ha rilasciato il Report

National Economy Sustained the Momentum of Stable Recovery in July.

In July, faced with the impact of multiple factors including the growing external uncertainties and the domestic COVID-19 epidemic and flooding situation, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, and effectively carried out the macroeconomic policies. As a result, China’s economy growth was in line with expectations, the employment and prices remained generally stable, a basic equilibrium was maintained with regard to the balance of payments and the major macro indicators stayed within a reasonable range. The national economy continued the momentum of stable recovery.

  1. Industrial Production Grew Steadily and High-Tech Manufacturing Industry Demonstrated Strong Momentum of Growth.

In July, the total value added of industrial enterprises above the designated size grew by 6.4 percent year on year, down by 1.9 percentage points than that of June, and higher than that of the same period in 2019 and 2020; the average two-year growth was 5.6 percent; up by 0.30 percent month on month. In terms of sectors, the value added of mining increased by 0.6 percent year on year; that of manufacturing increased by 6.2 percent year on year; and the production and supply of electricity, thermal power, gas and water increased by 13.2 percent year on year. The value added of high-tech manufacturing and equipment manufacturing grew by 15.6 percent and 6.4 percent year on year respectively, or an average two-year growth of 12.7 percent and 9.7 percent respectively. In term of products, the production of new-energy automobiles, industrial robots, integrated circuits and micro computer equipment grew by 162.7 percent, 42.3 percent, 41.3 percent and 10.3 percent year on year respectively, with the average two-year growth all exceeding 14 percent. Goods for basic consumption enjoyed fast growth. The production of household gas water heater, beverage, and chemical fibers went up by 13.9 percent, 10.1 percent and 9.3 percent year on year respectively. An analysis by types of ownership showed that the value added of state holding enterprises was up by 7.2 percent year on year; that of share-holding enterprises was up by 7.1 percent year on year; that of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan was up by 3.8 percent year on year; and that of private enterprises was up by 6.1 percent year on year. The total value added of industrial enterprises above the designated size grew by 14.4 percent year on year in the first seven months, with an average two-year growth of 6.7 percent. Specifically, the value added of manufacturing of medicine and that of electrical machinery and apparatus went up by 29.3 percent and 26.2 percent year on year respectively. In July, the Manufacturing Purchasing Managers’ Index stood at 50.4 percent, staying above the threshold for seventeen months in a row; the Production and Operation Expectation Index was 57.8 percent.

In the first six months, the profits made by industrial enterprises above the designated size totaled 4,218.3 billion yuan, up by 66.9 percent year on year, or an average two-year growth of 20.6 percent; the profit rate of the business revenue of industrial enterprises above the designated size was 7.11 percent, 1.66 percentage points higher than that of the first six months in 2020.

  1. Service Sector Continued to Recover and Business Revenue of Enterprises Grew Generally Fast.

In July, the Index of Services Production grew by 7.8 percent year on year, down by 3.1 percentage points than that of June and higher than that of the same period in 2019 and 2020; the average two-year growth was 5.6 percent. Of this total, the Index of Services Production of information transmission, software and information technology services went up by 16.9 percent year on year. In the first seven months, the Index of Services Production grew by 19.6 percent year on year, down by 1.9 percentage points than that of the first six months; the average two-year growth was 6.5 percent. By main industries, the Sub-Index of Services Production of 8 industries all maintained positive year-on-year growth. Specifically, the Index of Services Production of information transmission, software and information technology services went up by 21.6 percent year on year. In the first six months, business revenue of service enterprises above the designated size grew by 29.5 percent year on year, with an average two-year growth of 11.1 percent, basically the same as that of the first five months. Specifically, the business revenue of information transmission, software and information technology services and that of scientific research and technology services grew by 25.7 percent and 23.9 percent year on year respectively, with an average two-year growth of 17.4 percent and 12.1 percent respectively. In July, the Business Activity Index for Services stood at 52.5 percent, up by 0.2 percentage point than that of June, staying above the threshold for seventeen months in a row. From the perspective of market expectation, the Business Activity Expectation Index for services stood at 60.1 percent, continuing to stay within the expansion range.

  1. Market Sales Continued to Grow and Online Retail Sales Grew Rapidly.

In July, the total retail sales of consumer goods reached 3,492.5 billion yuan, up by 8.5 percent year on year, down by 3.6 percentage points than that of June and higher than that of the same period in 2019 and 2020, the average two-year growth reached 3.6 percent, and the month-on-month growth went down by 0.13 percent. In the first seven months, the total retail sales of consumer goods reached 24,682.9 billion yuan, up by 20.7 percent year on year, with an average two-year growth of 4.3 percent. In July, analyzed by different areas, the retail sales of consumer goods in urban areas reached 3,037.9 billion yuan, up by 8.4 percent year on year; and that in rural areas reached 454.7 billion yuan, up by 8.8 percent year on year. Grouped by consumption patterns, the retail sales of goods were 3,117.4 billion yuan, up by 7.8 percent year on year; and the revenue of catering was 375.1 billion yuan, up by 14.3 percent year on year. Grouped by categories, of the 18 categories of goods by enterprises above the designated size, 16 categories maintained positive year-on-year growth of retail sales. Daily consumer goods and upgraded consumer goods witnessed good momentum of growth. Of the retail sales of goods by enterprises above the designated size, the year-on-year growth rates of grain, oil and food, beverage and daily necessities went up by 11.3 percent, 20.8 percent and 13.1 percent respectively, those of sports and recreational articles, cultural and office appliances and gold, silver and jewelry went up by 20.7 percent, 14.8 percent and 14.3 percent year on year respectively. In the first seven months, the online retail sales reached 7,110.8 billion yuan, up by 21.9 percent year on year. Specifically, the online retail sales of physical goods totaled 5,813.0 billion yuan, up by 17.6 percent year on year, accounting for 23.6 percent of the total retail sales of consumer goods.

  1. Investment in Fixed Assets Was Generally Stable and the Growth of Investment in Manufacturing Accelerated.

In the first seven months, the investment in fixed assets (excluding rural households) reached 30,253.3 billion yuan, up by 10.3 percent year on year, 2.3 percentage points lower than that in the first six months, with an average two-year growth of 4.3 percent; the month-on-month growth in July was 0.18 percent. Specifically, in the first seven months, the investment in infrastructure was up by 4.6 percent year on year, an average two-year growth of 0.9 percent, and 1.5 percentage points lower than that in the first six months; manufacturing up by 17.3 percent year on year, an average two-year growth of 3.1 percent, and 1.1 percentage points higher than that in the first six months; and real estate development up by 12.7 percent year on year, an average two-year growth of 8.0 percent, and 0.2 percentage point lower than that in the first six months. The floor space of commercial buildings sold reached 1,016.48 million square meters, up by 21.5 percent year on year; the total sales of commercial buildings were 10,643.0 billion yuan, up by 30.7 percent year on year. By industries, the investment in the primary industry went up by 21.8 percent year on year; that in the secondary industry up by 14.4 percent year on year; and that in the tertiary industry grew by 8.2 percent year on year. The private investment went up by 13.4 percent year on year. The investment in high-tech industries grew by 20.7 percent year on year, an average two-year growth of 14.2 percent. Specifically, the investment in high-tech manufacturing and high-tech services grew by 27.1 percent and 8.8 percent year on year respectively. In terms of high-tech manufacturing, the investment in manufacturing of aerospace vehicle and equipment, in manufacturing of computers and office equipment and in manufacturing of medical equipment, measuring instruments and meters grew by 49.7 percent, 46.9 percent and 34.9 percent year on year respectively. In terms of high-tech services, the investment in E-commerce services and in research, development and design services went up by 42.7 percent and 27.2 percent year on year respectively. The investment in social sectors went up by 13.1 percent year on year, with an average two-year growth of 10.9 percent. Specifically, the investment in health and education went up by 31.8 percent and 12.1 percent year on year respectively.

  1. Imports and Exports of Goods Grew Fast and Trade Structure Continued to Improve.

In July, the total value of imports and exports of goods was 3,265.7 billion yuan, up by 11.5 percent year on year. Specifically, the value of exports was 1,814.2 billion yuan, up by 8.1 percent year on year and the value of imports was 1,451.5 billion yuan, up by 16.1 percent. The trade balance was 362.7 billion yuan in surplus. In the first seven months, the total value of imports and exports of goods was 21,341.7 billion yuan, an increase of 24.5 percent year on year. Specifically, the value of exports was 11,662.6 billion yuan, up by 24.5 percent year on year; that of imports was 9,679.2 billion yuan, up by 24.4 percent year on year. The trade structure continued to improve. In the first seven months, the exports of mechanical and electrical products grew by 25.5 percent year on year, accounting for 59 percent of the total value of exports. The imports and exports of general trade accounted for 61.9 percent of the total value of imports and exports, 1.5 percentage points higher than the same period of the previous year. The imports and exports by private enterprises accounted for 47.9 percent of the total value of imports and exports, 2.4 percentage points higher than the same period last year.

  1. Employment was Generally Stable and Urban Employment Continued to Increase.

In the first seven months, the newly increased employed people in urban areas totaled 8.22 million, completing 74.7 percent of the annual target. In July, the urban surveyed unemployment rate was 5.1 percent, 0.1 percentage point higher than June. The surveyed unemployment rate of population with local household registration was 5.1 percent and that of population with non-local household registration was 5.0 percent. The surveyed unemployment rates of the population aged from 16 to 24 and from 25 to 59 were 16.2 percent and 4.2 percent respectively. The urban surveyed unemployment rate in 31 major cities was 5.2 percent, the same as that in June. The employees of enterprises worked 47.7 hours per week on average, 0.1 hour more than that in June.

  1. Prices Were Generally Stable and Consumer Price Went up Mildly.

In July, the consumer price (CPI) went up by 1.0 percent year on year, 0.1 percentage point lower than that in June and up by 0.3 percent month on month. Grouped by commodity categories, prices for food, tobacco and alcohol went down by 1.8 percent year on year; clothing up by 0.4 percent; housing up by 1.1 percent; articles and services for daily use up by 0.3 percent; transport and communication up by 6.9 percent; education, culture and recreation up by 2.7 percent; medical services and health care up by 0.4 percent; and other articles and services down by 1.3 percent. Among the prices for food, tobacco and alcohol, the price for pork went down by 43.5 percent, fresh vegetables down by 4.0 percent, grain up by 0.7 percent, and fresh fruit up by 5.2 percent. The core CPI excluding the price of food and energy went up by 1.3 percent, an increase expanded by 0.4 percentage point than that of June. In the first seven months, the consumer price went up by 0.6 percent year on year.

In July, the producer prices for industrial products went up by 9.0 percent year on year, an increase expanded by 0.2 percentage point compared with that in June, or up by 0.5 percent month on month. The purchasing prices for industrial producers went up by 13.1 percent year on year, the same as that in June, or up by 0.9 percent month on month. In the first seven months, the producer prices for industrial products and the purchasing prices for industrial producers increased by 5.7 percent and 7.9 percent year on year respectively.

In general, the national economy sustained the momentum of steady recovery in July. However, given the continuously evolving global situation of the epidemic, the  increasingly complex and severe external environment, and the combined impact of sporadic local outbreaks of COVID-19 and natural disasters on the economy of some regions, the economic recovery is still unstable and uneven. At the next stage, under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we must uphold the underlying principle of pursuing progress while ensuring stability, adhere to the overall coordination of epidemic prevention and control with economic and social development, stick to full, accurate and comprehensive implementation of the new development philosophy, deepen the supply-side structural reforms, accelerate the building of a new development paradigm, advance the high-quality development, accurately implement the routine epidemic prevention and control measures, make good cross-cycle macro policy adjustment, implement macro policies in a scientific and targeted manner so as to keep the economy performing within the reasonable range and to promote a sustained recovery and steady and sound growth of the national economy.

Pubblicato in: Cina, Commercio

Cina. Luglio21. Import +28.1%, Export +19.3%, Saldo 56.588 miliardi.

Giuseppe Sandro Mela

2021-08-08.

2021-08-09__ Cina Export 001

                         In sintesi.

«high-tech manufacturing went up by 22.6 percent year on year»

«In the first five months, the total profits made by industrial enterprises …. was 3,424.7 billion yuan, up by 83.4 percent year on year»

«In the first half year, the total value of imports and exports of goods was 18,065.1 billion yuan, an increase of 27.1 percent year on year»

«In the first half year, the exports of mechanical and electrical products accounted for 59.2 percent of the total value of exports»

«The imports and exports by private enterprises accounted for 47.8 percent of the total value of imports and exports»

«The total value of exports was 1,812.2 billion yuan, up by 20.2 percent year on year»

* * * * * *

Il National Bureau of Statistics of China ha rilasciato il Report

National Economy in the First Half Year Witnessed the Steady and Sound Growth Momentum Consolidated.

In the first half year, faced with complicated and changing environment both at home and abroad, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, continued to consolidate and expand the achievements made in the epidemic prevention and control and the economic and social development, and implemented accurate macro policies. China’s economy sustained a steady recovery with the production and demand picking up, employment and prices remaining stable, new driving forces thriving fast, quality and efficiency enhancing, market expectations improving and major macro indicators staying within reasonable range. The national economy witnessed the steady and sound growth momentum consolidated.

According to the preliminary estimates, the gross domestic product (GDP) of China in the first half year was 53,216.7 billion yuan, a year-on-year increase of 12.7 percent at comparable prices, 5.6 percentage points lower than that of the first quarter; and the average two-year growth was 5.3 percent, 0.3 percentage points faster than that of the first quarter. By quarter, the year-on-year GDP growth for the first quarter was 18.3 percent, with an average two-year growth of 5.0 percent; for the second quarter 7.9 percent, with an average two-year growth of 5.5 percent. By industry, in the first half year, the value added of the primary industry was 2,840.2 billion yuan, a year-on-year growth of 7.8 percent, with an average two-year growth of 4.3 percent; the secondary industry 20,715.4 billion yuan, a year-on-year growth of 14.8 percent, with an average two-year growth of 6.1 percent; and the tertiary industry  29,661.1 billion yuan, a year-on-year growth of 11.8 percent, with an average two-year growth of 4.9 percent. The quarter-on-quarter GDP growth of the second quarter was 1.3 percent.

….

                         Industrial Production Grew Steadily and High-tech Manufacturing Grew Fast.

In the first half year, the total value added of the industrial enterprises above the designated size grew by 15.9 percent year on year, with an average two-year growth of 7.0 percent, 0.2 percentage points faster than that of the first quarter; specifically, that of the second quarter went up by 8.9 percent year on year. In June, the total value added of the industrial enterprises above the designated size grew by 8.3 percent year on year, with an average two-year growth of 6.5 percent; and the month-on-month growth was 0.56 percent. In terms of sectors, in the first half year, the value added of the mining went up by 6.2 percent year on year, with an average two-year growth of 2.5 percent; that of the manufacturing up by 17.1 percent, with an average two-year growth of 7.5 percent; and that of the production and supply of electricity, thermal power, gas and water up by 13.4 percent, with an average two-year growth of 6.0 percent. The value added of high-tech manufacturing went up by 22.6 percent year on year, with an average two-year growth of 13.2 percent. In terms of products, the production of new-energy automobiles, industrial robots and integrated circuits increased by 205.0 percent, 69.8 percent, and 48.1 percent year on year respectively, with the average two-year growths all exceeding 30 percent. An analysis by types of ownership showed that the value added of the state holding enterprises went up by 11.9 percent year on year; that of share-holding enterprises up by 15.8 percent year on year; that of enterprises funded by foreign investors or investors from Hong Kong, Macao, and Taiwan up by 17.0 percent year on year; and that of private enterprises up by 18.3 percent year on year. In June, the Manufacturing Purchasing Managers’ Index of China was 50.9 percent, staying above the threshold for sixteen months in a row. The Production and Operation Expectation Index was 57.9 percent.

In the first five months, the total profits made by industrial enterprises above the designated size was 3,424.7 billion yuan, up by 83.4 percent year on year, with an average two-year growth of 21.7 percent. The profit rate of the business revenue of industrial enterprises above the designated size was 7.11 percent, 2.05 percentage points higher than that of the first five months in 2020.

….

                         Imports and Exports of Goods Grew Fast and Trade Structure Continued to Improve.

In the first half year, the total value of imports and exports of goods was 18,065.1 billion yuan, an increase of 27.1 percent year on year. The total value of exports was 9,849.3 billion yuan, up by 28.1 percent year on year. The total value of imports was 8,215.7 billion yuan, up by 25.9 percent year on year. The trade balance was 1,633.6 billion yuan in surplus. The trade structure continued to improve. In the first half year, the exports of mechanical and electrical products accounted for 59.2 percent of the total value of exports, up by 0.6 percentage points over the same period last year. The imports and exports of general trade accounted for 61.9 percent of the total value of imports and exports, up by 1.7 percentage points over the same period last year. The imports and exports by private enterprises accounted for 47.8 percent of the total value of imports and exports, up by 2.8 percentage points over the same period last year. In June, the total value of imports and exports was 3,291.6 billion yuan, an increase of 22.0 percent year on year. The total value of exports was 1,812.2 billion yuan, up by 20.2 percent year on year. The total value of imports was 1,479.4 billion yuan, up by 24.2 percent year on year.

Pubblicato in: Banche Centrali, Cina, Economia e Produzione Industriale

Cina. 2021Q2. Pil +7.9% anno su anno, +12.7% negli ultimi 12 mesi.

Giuseppe Sandro Mela.

2021-07-18.

2021-07-16__ Cina Pil 001

Attenzione!

Mentre i pil dei paesi occidentali conteggiano le sovvenzioni statali, regionali e comunali come se fossero state proventi da lavoro, gonfiando così i valori dei prodotti interni lordi, il pil cinese considera solo quanto prodotto realmente con il lavoro diretto.

* * * * * * *

In sintesi.

– The country’s gross domestic product increased 7.9% in the second quarter from a year ago

– Retail sales rose 12.1% in June from a year ago

– Industrial production grew by 8.3%

* * * * * * *


National Bureau of Statistics of China. National Economy in the First Half Year Witnessed the Steady and Sound Growth Momentum Consolidated.

«In the first half year, faced with complicated and changing environment both at home and abroad, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, continued to consolidate and expand the achievements made in the epidemic prevention and control and the economic and social development, and implemented accurate macro policies. China’s economy sustained a steady recovery with the production and demand picking up, employment and prices remaining stable, new driving forces thriving fast, quality and efficiency enhancing, market expectations improving and major macro indicators staying within reasonable range. The national economy witnessed the steady and sound growth momentum consolidated.

According to the preliminary estimates, the gross domestic product (GDP) of China in the first half year was 53,216.7 billion yuan, a year-on-year increase of 12.7 percent at comparable prices, 5.6 percentage points lower than that of the first quarter; and the average two-year growth was 5.3 percent, 0.3 percentage points faster than that of the first quarter. By quarter, the year-on-year GDP growth for the first quarter was 18.3 percent, with an average two-year growth of 5.0 percent; for the second quarter 7.9 percent, with an average two-year growth of 5.5 percent. By industry, in the first half year, the value added of the primary industry was 2,840.2 billion yuan, a year-on-year growth of 7.8 percent, with an average two-year growth of 4.3 percent; the secondary industry 20,715.4 billion yuan, a year-on-year growth of 14.8 percent, with an average two-year growth of 6.1 percent; and the tertiary industry  29,661.1 billion yuan, a year-on-year growth of 11.8 percent, with an average two-year growth of 4.9 percent. The quarter-on-quarter GDP growth of the second quarter was 1.3 percent.»

* * * * * * *


China’s GDP grew 7.9% in the second quarter; retail sales beat expectations

– The country’s gross domestic product increased 7.9% in the second quarter from a year ago, the National Bureau of Statistics said Thursday. That fell short of Reuters’ estimate of 8.1% growth.

– Retail sales rose 12.1% in June from a year ago, more than the expected 11% level forecast by Reuters.

– Industrial production grew by 8.3%, greater than the 7.8% Reuters estimate.

*

China reported second-quarter GDP growth that came in slightly below expectations, while retail sales and industrial production grew faster than forecast in June.

The country’s gross domestic product increased 7.9% in the second quarter from a year ago, the National Bureau of Statistics said Thursday. That fell short of Reuters’ estimate of 8.1% growth for the April to June period.

“Overall, China’s economy looks to be on track for recovery, with the 6% annual growth goal in reach,” Chaoping Zhu, global market strategist at JPMorgan Asset Management, said in a note.

“However, downside and structural risks in domestic demand are concerning,” he said, pointing to weak growth in long-term credit and uncertainty over market regulation.

Second-quarter GDP rose 1.3% from the first quarter, faster than the 0.6% pace between the first quarter of this year and fourth quarter of 2020. However, the latest quarterly increase was still slower than the 2.6% pace of the fourth quarter.

“China’s economy sustained a steady recovery,” the statistics bureau said in a release. But the bureau added there were still concerns about the global spread of the pandemic and “unbalanced” recovery domestically.

Retail sales rose 12.1% in June from a year ago, more than the expected 11% level forecast by Reuters. The fastest-growing category was beverages, up 29.1% year-on-year.

Retail sales growth has lagged that of the overall economy, and missed analysts’ expectations for the first two months of the second quarter.

Consumption declined year-on-year in May for four provincial capitals — Wuhan, Guiyang, Shijiazhuang and Yinchuan — according to analysis of public data by Pinpoint Asset Management.

Industrial production grew by 8.3%, greater than the 7.8% Reuters estimate.

In the last three months, Chinese authorities have also announced support for companies affected by the surge in commodity prices.

The urban survey unemployment rate held steady at 5% in June, while unemployment for the younger 16 to 24 age category climbed to 15.4% — the same as June 2020.

On Thursday, a cut to the reserve requirement ratio (RRR), or the amount of funds banks must hold in reserve, was set to take effect. Authorities’ initial hint of such a cut surprised investors last week, and signaled concerns of slower growth.

The cut is expected to release about 1 trillion yuan (or $154 billion) into the economy.

Meanwhile, China’s customs agency said earlier this week that exports rose a more-than-expected 32.2% in June.

Exports growth will likely slow in the second half of the year, said Bruce Pang, head of macro and strategy research at China Renaissance. He cited factors such as a high level of growth in the second half of last year and weaker growth in commodity prices.

China’s slower pace of economic recovery “is still clouded with uncertainties and unbalanced growth, as employment, household income, consumption, manufacturing investment, the service sector and private companies have yet to return to pre-pandemic levels,” Pang said.

Pubblicato in: Devoluzione socialismo, Geopolitica Asiatica

Cambogia. 2021. Pil anno su anno stimato al 7.1%.

Giuseppe Sandro Mela.

2021-05-08.

Cambogia 004

La Cambogia è un paese misero, che però aveva raddoppiato il proprio pil nel volgere di dieci anni.

La crisi pandemica ha di fatto bloccato il turismo e gran parte delle attività industriali ed agricole.

Adesso si iniziano a vedere i primi segni di una ripresa.

2021-05-01__ Cambogia 001

* * * * * * *

2021-05-01__ Cambogia 002

«Cambodia’s economy is forecast to grow 4 percent in 2021 and 5.5 percent in 2022»

«ADB [Asian Development Bank] said the Southeast Asian nation’s economy contracted by 3.1 percent in 2020 because of the COVID-19 pandemic»

«industrial production is expected to rise 7.1 percent in 2021 and 7 percent in 2022»

«Agriculture is expected to grow by 1.3 percent in 2021»

«Services will recover more slowly, expanding by 3.3 percent in 2021 and 6.2 percent in 2022»

2021-05-01__ Cambogia 004

* * * * * * *


ADB says Cambodia’s economy to rebound by 4 pct in 2021, higher next year.

Phnom Penh, April 29 (Xinhua) — Cambodia’s economy is forecast to grow 4 percent in 2021 and 5.5 percent in 2022, as the economic recovery in its major trading partners boosts demand for the kingdom’s exports, an Asian Development Bank (ADB) report has said.

ADB country director for Cambodia Sunniya Durrani-Jamal said the Southeast Asian nation’s economy contracted by 3.1 percent in 2020 because of the COVID-19 pandemic.

“The government has responded quickly to the recent spike in cases, and we expect the economy to return to growth in 2021,” she said in a press statement on Wednesday.

“This will help increase household incomes, but not all sectors and regions will benefit equally, so it will be essential to closely monitor household welfare and the need for additional support,” she added.

According to the bank’s report, industrial production is expected to rise 7.1 percent in 2021 and 7 percent in 2022 on the back of a rebound in the garments, footwear, and travel goods sector, as well as growth in other light manufacturing such as electronics and bicycles.

Agriculture is expected to grow by 1.3 percent in 2021 and 1.2 percent in 2022, underpinned by higher crop production after last year’s flood damage, continued growth in aquaculture, and rising agriculture exports to China, it said.

Services will recover more slowly, expanding by 3.3 percent in 2021 and 6.2 percent in 2022, the report said, adding that efforts to contain a local outbreak of COVID-19 that began on Feb. 20 are dampening service sector activities.

Travel restrictions are expected to remain in place for most of 2021, which means tourism is not expected to boost services this year, it said. Real estate is expected to recover from last year’s contraction, in line with a similar trend for the construction industry.

“The uneven pace of the recovery across sectors will continue to put pressure on some households and firms this year, which will slow down the overall recovery,” Durrani-Jamal said.

“Key risks to the outlook include widening community outbreaks of COVID-19, slower than expected growth for Cambodia’s major trading partners such as the United States and EU, continued weakness in domestic demand, and stress on financial services and banking,” she added. Enditem

Pubblicato in: Cina

Cina. 2021Q1. Produzione Industriale +24.5% anno su anno.

Giuseppe Sandro Mela.

2021-04-17.

2021-04-16__ Cina Produzione Industriale 001

Il National Bureau of Statistics of China ha rilasciato il seguente report:

National Economy Made a Good Start in the First Quarter.

«…. Industrial Production Rebounded Steadily and Manufacturing Industry Demonstrated Strong Momentum of Growth.

The total value added of industrial enterprises above the designated size grew by 24.5 percent year on year in the first quarter of 2021, or up by 2.01 percent quarter on quarter, with an average two-year growth of 6.8 percent. Of this total, the total value added of industrial enterprises above the designated size in March increased by 14.1 percent year on year, up by 0.60 percent month on month. An analysis by types of ownership showed that in the first quarter, the value added of state holding enterprises was up by 16.9 percent year on year; that of share-holding enterprises was up by 23.7 percent year on year; that of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan was up by 29.2 percent year on year; and that of private enterprises was up by 29.7 percent year on year. In terms of sectors, the value added of mining increased by 10.1 percent year on year, with an average two-year growth of 4.0 percent; that of manufacturing increased by 27.3 percent year on year, with an average two-year growth of 6.9 percent; and the production and supply of electricity, thermal power, gas and water increased by 15.9 percent year on year, with an average two-year growth of 4.8 percent. The value added of equipment manufacturing and high-tech manufacturing increased by 39.9 percent and 31.2 percent respectively year on year, with an average two-year growth of 9.7 percent and 12.3 percent respectively. Specifically, the production of new-energy automobiles, industrial robots, excavating and shoveling machinery, micro computers and integrated circuits all witnessed a year-on-year growth of over 60 percent, with the average two-year growth exceeding 19 percent. In March, the Manufacturing Purchasing Managers’ Index stood at 51.9 percent, staying above the threshold for thirteen months in a row; the Production and Operation Expectation Index was 58.5 percent.

From January to February, the profits made by industrial enterprises above the designated size totaled 1,114.0 billion yuan, 2.79 times that of the first two months of last year, or an average two-year growth of 31.2 percent; the profit rate of the business revenue of industrial enterprises above the designated size was 6.60 percent, 3.15 percentage points higher than that of the first two months in 2020.»

Pubblicato in: Banche Centrali, Devoluzione socialismo, Economia e Produzione Industriale, Unione Europea

Unione Europea. Produzione Industriale -8.7% anno 2020 su anno 2019. – Eurostat.

Giuseppe Sandro Mela.

2021-02-18.

2021-02-16__ Eurostat produzione 001

In sintesi.

«The annual average industrial production for the year 2020, compared with 2019, fell by 8.7% in the euro area and by 8.0% in the EU»

*

Il titolo del report si riferisce al confronto mese sul precedente.

Pudicamente, Eurostat omette di riportare nel titolo che anno su anno la Produzione Industriale sia crollata del -8.7%.

In Cina la Produzione Industriale è aumentata del +7.3%, a Singapore del +14.3%, in Brasile del +8.2%, in Ungheria del +5.8%.

Si noti come la Produzione Industriale sia aumentata nei paesi dell’est.

2021-02-16__ Eurostat produzione 002

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Eurostat ha rilasciato il Report Industrial production down by 1.6% in euro area and 1.2% in EU.

In December 2020, the seasonally adjusted industrial production fell by 1.6% in the euro area and by 1.2% in the EU, compared with November 2020, according to estimates from Eurostat, the statistical office of the European Union. In November 2020, industrial production grew by 2.6% in the euro

 euro area and by 2.3% in the EU.

In December 2020 compared with December 2019, industrial production decreased by 0.8% in the euro area and by 0.4% in the EU.

The annual average industrial production for the year 2020, compared with 2019, fell by 8.7% in the euro area and by 8.0% in the EU.

Monthly comparison by main industrial grouping and by Member State

In the euro area in December 2020, compared with November 2020, production of capital goods fell by 3.1% and non-durable consumer goods by 0.6%, while production of durable consumer goods rose by 0.8%, intermediate goods by 1.0% and energy by 1.4%.

In the EU, production of capital goods fell by 2.8% and non-durable consumer goods by 0.1%, while production of intermediate goods rose by 0.9%, energy by 1.0% and durable consumer goods by 1.5%.

Among Member States, for which data are available, the largest decreases were registered in Hungary (-2.5%), Belgium (-1.9%) and Finland (-0.9%). The highest increases were observed in Denmark (+2.4%), Portugal (+1.8%), Estonia and Luxembourg (both +1.6%).

Annual comparison by main industrial grouping and by Member State

In the euro area in December 2020, compared with December 2019, production of non-durable consumer goods fell by 3.9%, capital goods by 3.1% and energy by 1.9%, while production of durable consumer goods rose by 1.4% and intermediate goods by 4.1%.

In the EU, production of non-durable consumer goods fell by 3.1%, capital goods by 2.8% and energy by 2.5%, while production of durable consumer goods rose by 4.2% and intermediate goods by 4.4%.

Among Member States, for which data are available, the largest decreases in industrial production were registered in Belgium (-4.6%), Malta and Portugal (both -4.3%). The highest increases were observed in Slovakia (+6.8%), Poland (+6.1%) and Latvia (+4.7%).

Pubblicato in: Cina, Devoluzione socialismo, Economia e Produzione Industriale, Stati Uniti

America. Non sa più produrre ciò che ha inventato e sta inventando. – NYT.

Giuseppe Sandro Mela.

2021-01-10.

Toro 005

Il messaggio è semplice, facilmente capibile, quasi scontato: ma è destinato a cadere nel vuoto.

La presidenza Biden è il trionfo della diplomazia cinese.

* * * * * * *

«America can’t even produce the things it invented»

«The United States can bring manufacturing back which will bring back good jobs and protect national interests»

«The panic in the United States over the lack of masks and ventilators for Covid-19 has mostly eased, but please, don’t let those scary few weeks fade too quickly»

«The scramble for medical equipment was a telling moment for the American economy because it revealed something alarming: The United States can no longer produce what it needs in a time of crisis, even if those things were invented here»

«In the past two decades, the U.S. economy has been lulled into following a path of offshoring, driven by an ideology celebrating short-term financial gains above everything else»

«The country, once a manufacturing powerhouse, is populated by corporations that have moved manufacturing overseas and lost their ability to produce domestically»

«The United States no longer produces even the essentials, from personal protective equipment to our smartphones and laptops»

«But the country lost sight of the critical requirements of a vibrant economy — which is good jobs»

«Production has shifted overseas so extensively that the United States is now dependent on other countries, particularly China, to supply many of our necessities, from medical supplies to 5G to the simplest of screws: 95 percent of surgical masks and 70 percent of respirators used in the United States are produced abroad»

«The last domestic penicillin plant closed in 2004.»

«The United States has fallen behind in many areas of advanced manufacturing, like 5G and the most cutting-edge computer chips»

«Instead of creating these manufacturing jobs, the economy is adding poorly paid service jobs»

«But one glaring thing is missing: powerful, sustainable demand for goods made in the United States»

«Also, government funding to build supply won’t be effective without any demand.»

«If products are going to be successfully manufactured in the United States, there must be sustained purchases by the government at the federal, state, and local levels, certainly for medical supplies but also in other industries»

«After all, taxpayer money should not be used to subsidize foreign production»

«Federal law should require all manufacturing industries to disclose how much of their sourcing and critical production takes place in the United States»

«It is time that the United States believed in itself again»

* * * * * * *

La globalizzazione è risultata essere uno dei più pacchiani errori perpetrati nella storia umana, assimilabile all’arruolamento negli eserciti imperiali romani dei barbari.

Bene. Se il problema è chiaro, del tutto oscuro è invece il futuro. Ossia di cosa saprà fare l’America. Per la Cina lo sappiamo invece più che bene.

2020-12-28__ WSJ Pil Ppa

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America Can’t Even Produce the Things It Invented

Why Should China Make Everything?

The United States can bring manufacturing back — which will bring back good jobs and protect national interests.

The panic in the United States over the lack of masks and ventilators for Covid-19 has mostly eased, but please, don’t let those scary few weeks fade too quickly. The scramble for medical equipment was a telling moment for the American economy because it revealed something alarming: The United States can no longer produce what it needs in a time of crisis, even if those things were invented here.

In the past two decades, the U.S. economy has been lulled into following a path of offshoring, driven by an ideology celebrating short-term financial gains above everything else. The country, once a manufacturing powerhouse, is populated by corporations that have moved manufacturing overseas and lost their ability to produce domestically, leaving little behind except shell companies that employ relatively few people. The United States no longer produces even the essentials, from personal protective equipment to our smartphones and laptops.

The huge short-term profits of this trend, coupled with impressive decreases in the prices of certain consumer goods, soothed many Americans. But the country lost sight of the critical requirements of a vibrant economy — which is good jobs. Death by despair from drug overdoses, suicide, and alcoholism has been claiming hundreds of thousands of people unable to find well-paying work.

Production has shifted overseas so extensively that the United States is now dependent on other countries, particularly China, to supply many of our necessities, from medical supplies to 5G to the simplest of screws: 95 percent of surgical masks and 70 percent of respirators used in the United States are produced abroad. The last domestic penicillin plant closed in 2004.

The pandemic has forced us to understand just how far down this path the country has gone, and given us a chance to start reversing direction before the next crisis hits.

Here is a post-Covid-19 challenge for Joe Biden’s Build Back Better plan: In the next 10 years, the United States should try to move back just a quarter of overall production away from Asia and the greater China region. That could not only affect preparedness for a subsequent crisis but also restore America’s position as a global manufacturer and a bastion of good jobs.

The United States has fallen behind in many areas of advanced manufacturing, like 5G and the most cutting-edge computer chips. Instead of creating these manufacturing jobs, the economy is adding poorly paid service jobs. According to the Bureau of Labor Statistics, the occupation that will add the most jobs over the next decade will be for “home health and personal care aides,” which pays about $25,000 a year. Other high-wage countries such as Germany and Switzerland have increased their high-end manufacturing. The United States should aspire to do the same.

It can be done. America is still the world’s second-largest manufacturer, and has retained pockets of the needed skills, from the shop floor to management of production. It doesn’t have to start from scratch.

But one glaring thing is missing: powerful, sustainable demand for goods made in the United States.

Without stable long-term demand, no company will invest in building production capacity, and potential employees will not invest in acquiring the necessary skills. Also, government funding to build supply won’t be effective without any demand.

The experience of one of the last domestic producers of the N95 mask, Prestige Manufacturing, is emblematic. During the swine flu pandemic in 2009, the company geared up production and hired more workers, only to see hospitals shift back to foreign producers once the crisis was over.

“Hospitals didn’t stick with us; we had to lay off 150 employees,” Mike Bowen, the president of Prestige told us. After Covid-19 hit, the company made additional masks only for hospitals willing to sign contracts guaranteeing they would stick with the manufacturer for the long term. As a result, there was a six-month delay in scaling up production, and its output was significantly smaller than what Prestige might have produced had there been more certainty about the stability of future demand.

If products are going to be successfully manufactured in the United States, there must be sustained purchases by the government at the federal, state, and local levels, certainly for medical supplies but also in other industries.

After all, taxpayer money should not be used to subsidize foreign production. Companies that are given federal aid for crises should be required to move a significant percentage of their sourcing and production back to the United States. Stopping predatory pricing by foreign manufacturers is also necessary to ensure stable demand.

Consumers are another overlooked source of stable demand for U.S.-made products. Indeed, their passion is cynically being used by companies that sell their made-in-China products as “proudly American.” Further, some consumers are clearly willing to pay more for products that they know are better, healthier and more ethically sourced. Thus, once consumers learn that not all generic drugs are alike, with pronounced differences in quality and safety, depending on the country of manufacture, many will gladly add a few cents for drugs using American-made active ingredients, perhaps with packages stating that their products are free from foreign-made active ingredients and were manufactured by fairly treated workers.

Stoking demand is all about certification, labeling and marketing. The Senate is considering proposals calling for disclosure of pharmaceutical production and sourcing. That’s a great step, and it should be extended to other industries.

Federal law should require all manufacturing industries to disclose how much of their sourcing and critical production takes place in the United States. It should be illegal for companies to use terms such as “an American tradition” on the packages of goods that were completely produced in China.

Covid-19 has brutally exposed national weaknesses. The task is difficult and will take years to bear fruit. However, there is also the chance to secure prosperity for future generations of Americans, as well as ensure that the next crisis will not find us so vulnerable. It is time that the United States believed in itself again.

Pubblicato in: Banche Centrali, Brasile, Devoluzione socialismo

Brasile. Il sistema economico sembrerebbe essere in netta ripresa.

Giuseppe Sandro Mela.

2020-12-06.

2020-12-04__Brasile 001

Il sistema economico brasiliano sembrerebbe essersi ripreso dalla crisi indotta dall’epidemia da Coronavirus.

Il pil ha evidenziato un buon +7.7% 2020Q3/2020Q2 (trimestre su trimestre) ed un -3.9% anno su anno, avendo ammortizzato quasi completamente il -9.7% precedente.

Ma segni di ripresa sostanziale provengono anche dagli altri macrodati.

«Economic activity in Brazil rose in September for a fifth month»

«The central bank’s IBC-Br index, often seen as a good proxy for broader gross domestic product, rose a seasonally-adjusted 1.3% in September from August, above the median 1.0% forecast in a Reuters poll of economists»

«It brought the cumulative increase over the third quarter to 9.5%, but still leaves activity 2.5% below its pre-pandemic level in February»

«They now see Q3 GDP rising 7.3%, up from 6.7%, and revised their 2020 GDP forecast to -5.5% from -5.8%»

«Economy Minister Paulo Guedes insists that Brazil will suffer less and will recover more quickly than many other countries due to government and central bank support»

* * * * * * *

Concordiamo pienamente con quanto detto dal Ministro Paulo Guedes: il Brasile sta emergendo dalla crisi

«due to government and central bank support».

Purtroppo, sono ben pochi gli stati che abbiano simultaneamente un governo capace ed efficiente ed un governatore della banca centrale in grado di saper fare il suo mestiere.

*


Brazil economic activity rises in September, points to solid third quarter rebound.

Economic activity in Brazil rose in September for a fifth month, a central bank survey showed on Friday, more than economists had expected, pointing to a solid recovery in the third quarter from the worst of the COVID-19 shock earlier in the year.

The central bank’s IBC-Br index, often seen as a good proxy for broader gross domestic product, rose a seasonally-adjusted 1.3% in September from August, above the median 1.0% forecast in a Reuters poll of economists.

It brought the cumulative increase over the third quarter to 9.5%, but still leaves activity 2.5% below its pre-pandemic level in February, the central bank figures show.

Economists at Citi immediately raised their third-quarter and full-year GDP growth forecasts on the back of the data. They now see Q3 GDP rising 7.3%, up from 6.7%, and revised their 2020 GDP forecast to -5.5% from -5.8%.

“Overall, the main activity indicators (industrial production, civil construction, retail sales, services survey, etc) performed better than our expectations, triggering an upward revision,” they wrote in a note on Friday.

It was the index’s fifth monthly increase in a row, but because August’s rise was revised up to 1.4% from 1.1%, September’s increase was the smallest of them all.

Compared to September last year activity was down 0.8%, and on an accumulated 12-month basis down 3.3%, both on a non-seasonally adjusted basis, the central bank said.

By this measure, Latin America’s largest economy is still 8.3% smaller than it was at its peak in December 2013.

Brazil’s economy is expected to register its biggest-ever annual slump this year, with the government forecasting a 4.7% fall. Economy Minister Paulo Guedes insists that Brazil will suffer less and will recover more quickly than many other countries due to government and central bank support.

Guedes reiterated his bullish view of the economy this week, saying it is in a “V-shaped” recovery and could grow by as much as 4% next year.

Pubblicato in: Armamenti, Cina, Devoluzione socialismo, Unione Europea

Cina. Xi Jinping. Discorsi programmatici sulla modernizzazione delle forze armate.

Giuseppe Sandro Mela.

2020-08-09.

Banca Centrale Cina

Riportiamo per memento i dati macroeconomici cinesi resi pubblici nelle ultime tre settimane.

Ne citeremo solo alcuni. Vehicle Sales YoY JUN +11.6%, Exports YoY JUN +0.5%, Imports YoY JUN +2.7%, GDP Growth Rate YoY Q2 +3.2%, Industrial Production YoY JUN +4.8%, GDP Growth Rate QoQ Q2 +11.5%.

Si prenda atto come questi macrodati ineriscano confronti anno su anno: ossia essi comprendono il periodo di lockdown imposto dall’epidemia da coronavirus. Essi sono tutti positivi, come se la crisi da Covid-19 non ci fosse stata.

Solo per comparazione, nello stesso arco di tempo l’eurozona ha evidenziato GDP Growth Rate -12.1%, GDP Annual Growth Rate -15%, Consumer Confidence -15%.

Le differenze sono stridenti: mentre il sistema economico europeo ha accusato severamente il colpo, quello cinese ne esce persino rafforzato.

La conclusione è semplicissima.

La Cina è determinata ad utilizzare questa sua supremazia sociale, politica ed economica per rafforzarsi, andando ad occupare tutti gli spazi lasciati liberi dal sistema politico ed economico occidentale in crisi.

La Cina mostra segni evidenti di non voler più accettare il solo modesto ruolo locoregionale. Ha in programma di raggiungere entro diversi lustri una forza militare che le consenta di svolgere appieno un ruolo mondiale.

Se sicuramente al momento attuale le forze armate cinesi non sono in grado di svolgere questo ruolo, dovrebbero restare ben pochi dubbi che tra una ventina di anni la Cina sia egemone.


«Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, has stressed advancing the modernization of the national defense and armed forces»

«Xi made the remarks while presiding over a group study session of the Political Bureau of the CPC Central Committee on strengthening the modernization of the national defense and armed forces»

«Xi underscored ensuring both development and security, and ensuring that efforts to make the country prosperous and efforts to make the military strong go hand in hand»

«The modernization of the national defense and armed forces must be in step with the country’s modernization process, and the military capabilities must fit national strategic needs»

«to transform the Chinese military into world-class forces»

«Noting that the world today is undergoing profound and fast-evolving changes unseen in a century, and that the COVID-19 pandemic is exerting a far-reaching influence on the international landscape, Xi said China’s security situation faces growing uncertainties and destabilizing factors»

* * * * * * *

Si noti con particolare attenzione:

«to transform the Chinese military into world-class forces»

L’obiettivo dichiarato è quello di abbandonare il ruolo locoregionale per assurgere a quello mondiale.

*


Xinhuanet. Xi Focus: Xi stresses modernization of national defense, armed forces

Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, has stressed advancing the modernization of the national defense and armed forces.

Xi made the remarks while presiding over a group study session of the Political Bureau of the CPC Central Committee on strengthening the modernization of the national defense and armed forces, which was held on Thursday.

To uphold and develop socialism with Chinese characteristics and achieve national rejuvenation, Xi underscored ensuring both development and security, and ensuring that efforts to make the country prosperous and efforts to make the military strong go hand in hand.

The modernization of the national defense and armed forces must be in step with the country’s modernization process, and the military capabilities must fit national strategic needs, Xi said.

Xi said the CPC has always been striving to build strong national defense and powerful military forces, and has made great achievements in this regard.

In this year, China will achieve the targets and missions of strengthening the national defense and armed forces for 2020, and embark on a new journey to basically complete the modernization of the national defense and armed forces, and to transform the Chinese military into world-class forces, Xi said.

Xi called for efforts to implement the strategic plans and arrangements made by the CPC Central Committee and the Central Military Commission on the modernization of the national defense and armed forces, to make sure that the targets and missions in this respect are achieved.

Noting that the world today is undergoing profound and fast-evolving changes unseen in a century, and that the COVID-19 pandemic is exerting a far-reaching influence on the international landscape, Xi said China’s security situation faces growing uncertainties and destabilizing factors.

He called for a stronger sense of mission and urgency and more efforts to achieve leapfrog development in the modernization of the Chinese military.

Xi underscored implementing the military strategic guideline for the new era, formulating the 14th five-year (2021-2025) plan for building the military, drawing a scientific road map, and cultivating a new type of high-caliber and professional military talent.

Stressing joint civil-military efforts in advancing the modernization of national defense and armed forces, Xi called on central Party and state institutions, as well as Party committees and governments at all local levels, to strengthen their awareness of national defense and carry forward the development of national defense and the armed forces

*


Xinhuanet. Xi Focus: Moments from strengthening Chinese military.

China’s Army Day falls on Aug. 1. As the top commander, President Xi Jinping has been leading efforts to modernize national defense and the armed forces, and turn the People’s Liberation Army (PLA) into world-class forces.

To reach this goal, Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, has designed and carried out massive military reforms and directed military development through meetings, orders and instructions.

In addition, Xi has reviewed troops, visited barracks, boarded armored vehicles and warships, and sent his regards to border patrol soldiers.

The following are some highlights of such moments over the past few years:

DRONE LAB

Xi visited a laboratory for drone technology at the Aviation University of the Air Force when he inspected northeast China’s Jilin Province in July 2020.

He inspected teaching facilities for drone operating systems and learned about the training of drone operators.

He stressed strengthening research into unmanned combat, enhancing drone education as a discipline, stepping up training in real combat conditions, and cultivating professionals who can use drones and take command in such warfare.

AIRCRAFT CARRIER

Xi attended the commissioning ceremony of China’s first domestically built aircraft carrier, the Shandong, in December 2019 at a naval port in Sanya, south China’s Hainan Province.

Xi boarded the aircraft carrier and reviewed the guards of honor. He also inspected the onboard equipment and asked about the work and life of carrier-based aircraft pilots.

Commending China’s achievements in aircraft carrier construction, Xi encouraged the officers and soldiers to continue their efforts to make new contributions in the service of the Party and the people.

TIAN’ANMEN SQUARE PARADE

On Oct. 1, 2019, Xi reviewed the armed forces at Tian’anmen Square in central Beijing as a grand rally was held to mark the 70th founding anniversary of the People’s Republic of China.

The National Day parade was the first overall demonstration of Chinese armed forces after their comprehensive reform and restructuring in recent years.

A total of 15,000 personnel, 580 pieces of armament and more than 160 aircraft in 15 foot formations, 32 armament formations and 12 echelons took part in the historic parade.

Xi stressed that the PLA and the People’s Armed Police Force should always preserve their nature, purpose and character as the forces of the people, resolutely safeguard China’s sovereignty, security and development interests, and firmly uphold world peace.

MULTINATIONAL NAVAL PARADE

In April 2019, Xi reviewed a multinational fleet in the Yellow Sea as part of the activities to mark the 70th founding anniversary of the PLA Navy.

Xi boarded the destroyer Xining, and reviewed 32 Chinese navy vessels and 39 aircraft, including China’s first aircraft carrier the Liaoning and nuclear-powered submarines, as well as 18 visiting naval ships from 13 countries.

In a group meeting with the heads of foreign delegations, Xi proposed building a maritime community with a shared future, and called for joint efforts to address common threats and challenges at sea and safeguard maritime peace and tranquility.

ELITE GROUND FORCE

Inspecting a division of the PLA ground force in the Central Theater Command in January 2018, Xi boarded China’s self-developed main battlefield 99A tank, known as the “king of land battles,” and the Red Arrow-10 anti-tank missile launching vehicle to learn about armaments used in the army.

He visited a reconnaissance company to watch training conducted by snipers, visited a simulation training center and met with officers of the division. He also visited the exhibition center detailing the division’s history.

Xi stressed building an elite combat force through real combat training, digitalization, innovation and reform.

FIELD PARADE

Xi reviewed the armed forces in July 2017 as part of the commemorations to mark the 90th PLA founding anniversary.

More than 12,000 service personnel took part in the parade at Zhurihe military training base in Inner Mongolia Autonomous Region. Advanced weapons including stealth fighters and nuclear missiles were displayed. It was the first time for Xi to oversee such a large military parade in the field.

Delivering a speech after the parade, Xi said China’s need to build strong armed forces is greater than at any other time in history, as the Chinese nation is closer to the goal of great rejuvenation than ever.

“The PLA has the confidence and capability to defeat all invading enemies and safeguard China’s national sovereignty, security and development interests,” said Xi.

BORDER TROOPS

In January 2014, Xi visited soldiers stationed on the Chinese-Mongolian border.

Braving the cold, Xi met soldiers on a patrol mission and expressed his appreciation to them for working in the harsh weather to safeguard the country. He also stopped at a hilltop border post and inspected the garrison of a border troop company, where he joined officers and soldiers for lunch at their canteen.

“I am very proud of our border troops. With you guarding the country’s border, people feel safe and can concentrate on economic development, reform and opening-up,” Xi said, stressing the great responsibility of border troops and urging them to work hard and perform their duties well