Chinese tourism growth slows as overseas travel loses its luster

BEIJING — The rapid growth of Chinese tourism took a bit of a breather during the latest week-long National Day holiday, government data indicate. “Golden Week data point to a slowdown,” Ting Lu, Nomura’s chief China economist, said in the title of a report distributed Wednesday. “As China’s economy has become increasingly reliant on consumption to drive its growth, data from ‘golden weeks’ have become a good barometer of China’s consumption growth trend.” Tourism growth slowed during another go


BEIJING — The rapid growth of Chinese tourism took a bit of a breather during the latest week-long National Day holiday, government data indicate. “Golden Week data point to a slowdown,” Ting Lu, Nomura’s chief China economist, said in the title of a report distributed Wednesday. “As China’s economy has become increasingly reliant on consumption to drive its growth, data from ‘golden weeks’ have become a good barometer of China’s consumption growth trend.” Tourism growth slowed during another go
Chinese tourism growth slows as overseas travel loses its luster Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: evelyn cheng
Keywords: news, cnbc, companies, tourism, chinese, travel, golden, loses, data, consumption, slows, day, days, growth, oct, overseas, week, holiday, million, luster


Chinese tourism growth slows as overseas travel loses its luster

XIAOSHAN AIRPORT, HANGZHOU, ZHEJIANG PROVINCE, CHINA: An outbound tourist group is waiting for check-in in front of the counter of China Customs. Chinese nationals have become the largest number of foreign tourists visiting other countries in 2015 as the number of outbound visitors crossed 120 million, registering an 11 million increase from last year.

BEIJING — The rapid growth of Chinese tourism took a bit of a breather during the latest week-long National Day holiday, government data indicate.

The seven-day vacation from Oct. 1 to Oct. 7 is dubbed “Golden Week” and is one of the few major government-mandated holidays in a country where personal vacation days are few. This year’s National Day was particularly significant domestically since it revolved around massive celebrations on Oct. 1 for the 70th anniversary of the Communist Party’s rule.

Chinese tourist sites received 782 million visits during the holiday, up well over 7% from last year’s 726 million, according to the Ministry of Culture and Tourism. But, that’s slower than reported growth of more than 9% in 2018, and down from a 10% increase in 2017.

Retail and food and beverage sales from Oct. 1 to Oct. 7 grew 8.5% to 1.52 trillion yuan ($212.7 billion), according to the Ministry of Commerce. While a solid figure, that’s a slower pace than the Commerce Ministry’s claims of nearly 10% or higher growth for previous years.

“Golden Week data point to a slowdown,” Ting Lu, Nomura’s chief China economist, said in the title of a report distributed Wednesday. “As China’s economy has become increasingly reliant on consumption to drive its growth, data from ‘golden weeks’ have become a good barometer of China’s consumption growth trend.”

Chinese authorities are trying to boost domestic consumption in an effort to support economic growth. Shortly after a major government meeting in March, authorities announced the May 1 Labor Day holiday would be extended by two days by swapping those working days with weekends, as is typical in China.

Tourism growth slowed during another golden week this year, the Lunar New Year holiday in February. Official numbers for overseas travel during that period were not clear about the actual rate of change.


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: evelyn cheng
Keywords: news, cnbc, companies, tourism, chinese, travel, golden, loses, data, consumption, slows, day, days, growth, oct, overseas, week, holiday, million, luster


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EU begins rethinking fiscal rules as economy slows

The European Union is bracing for a review of its strict fiscal rules as the bloc’s economy slows, while monetary stimulus is seen as being close to its limits, according to an EU document and officials. The periodic assessment is dictated by EU rules but it comes at a time when many are questioning the rationale of budget regulations, known as the Stability and Growth Pact, that were speedily overhauled in the wake of Europe’s 2010-2012 debt crisis. The Finnish internal document, dated Sept. 9


The European Union is bracing for a review of its strict fiscal rules as the bloc’s economy slows, while monetary stimulus is seen as being close to its limits, according to an EU document and officials. The periodic assessment is dictated by EU rules but it comes at a time when many are questioning the rationale of budget regulations, known as the Stability and Growth Pact, that were speedily overhauled in the wake of Europe’s 2010-2012 debt crisis. The Finnish internal document, dated Sept. 9
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Company: cnbc, Activity: cnbc, Date: 2019-09-10
Keywords: news, cnbc, companies, seen, rethinking, fiscal, begins, monetary, economic, rules, zones, document, policy, economy, slows


EU begins rethinking fiscal rules as economy slows

An EU flag flutters next to the statue of Winston Churchill outside the Houses of Parliament, ahead of a vote on Prime Minister Theresa May’s Brexit deal, in London, Britain January 15, 2019.

The European Union is bracing for a review of its strict fiscal rules as the bloc’s economy slows, while monetary stimulus is seen as being close to its limits, according to an EU document and officials.

The periodic assessment is dictated by EU rules but it comes at a time when many are questioning the rationale of budget regulations, known as the Stability and Growth Pact, that were speedily overhauled in the wake of Europe’s 2010-2012 debt crisis.

“While the original rules had the sole objective of ensuring sound and sustainable government finances, increasing emphasis is being placed by some on the role of fiscal policy in economic stabilization,” says a document prepared by the Finnish presidency of the EU.

Separately, on Tuesday the president-designate of the EU Commission, Ursula Von Der Leyen, assigned the economic portfolio in the new executive to Italy’s leftist former prime minister Paolo Gentiloni, in a move seen by some observers as a step towards fiscal loosening.

The Finnish internal document, dated Sept. 9 and reviewed by Reuters, will orientate a debate on the reform of fiscal rules which EU finance ministers will hold in Helsinki on Saturday, according to the meeting’s agenda.

Finland, which has traditionally supported a rigid interpretation of the stability pact, conceded in the document that the role of the euro zone’s fiscal policy to support the economy is increasingly seen as crucial, also because monetary policy is perceived “as more and more constrained”.

Years of European Central Bank’s negative rates and monetary stimulus have dispelled immediate risks for the euro zone’s very survival, but have failed to sufficiently raise inflation and growth in the bloc.

Under existing provisions, the EU executive commission is required to re-assess its fiscal rules by the end of this year. It refrained from recommending an overhaul after its first review in 2014, but at that time rules had not been properly tested.

The outcome may be different now as Germany, the bloc’s traditional economic motor, is on the brink of recession with officials in Berlin openly suggesting they could pump money into the economy to counter any significant slowdown.


Company: cnbc, Activity: cnbc, Date: 2019-09-10
Keywords: news, cnbc, companies, seen, rethinking, fiscal, begins, monetary, economic, rules, zones, document, policy, economy, slows


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Dropbox shares plummet after user growth slows, but CEO still sees expansion ahead this year

Dropbox CEO Drew Houston told CNBC on Friday that the cloud storage company still has big growth opportunities this year. Shares of Dropbox sank more than 13% on Friday after the file-sharing company reported Thursday after the bell in its second-quarter earnings release slow growth in paid users and revenue per user that was below forecasts. Dropbox last quarter saw its slowest growth in paid users since going public in 2018. It was unable to attract more paid users with its try-to-buy freemium


Dropbox CEO Drew Houston told CNBC on Friday that the cloud storage company still has big growth opportunities this year. Shares of Dropbox sank more than 13% on Friday after the file-sharing company reported Thursday after the bell in its second-quarter earnings release slow growth in paid users and revenue per user that was below forecasts. Dropbox last quarter saw its slowest growth in paid users since going public in 2018. It was unable to attract more paid users with its try-to-buy freemium
Dropbox shares plummet after user growth slows, but CEO still sees expansion ahead this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: jasmine kim
Keywords: news, cnbc, companies, growth, expansion, sees, dropbox, houston, investors, users, paid, share, million, revenue, plummet, slows, ahead, quarter, shares, user, ceo


Dropbox shares plummet after user growth slows, but CEO still sees expansion ahead this year

Dropbox CEO Drew Houston told CNBC on Friday that the cloud storage company still has big growth opportunities this year.

“We’re still growing. We had a good quarter. We beat expectations. We actually raised guidance for the year. So there’s still a lot of good stuff in there and obviously we’re very focused on growth and more is better,” Houston said on “Squawk Alley. ”

Shares of Dropbox sank more than 13% on Friday after the file-sharing company reported Thursday after the bell in its second-quarter earnings release slow growth in paid users and revenue per user that was below forecasts.

Dropbox last quarter saw its slowest growth in paid users since going public in 2018. It was unable to attract more paid users with its try-to-buy freemium offer, raising concerns among investors about its ability to convert free users into paying ones.

“We focus on both growing the number of subscribers and the amount of revenue per subscriber. Those are both going to fluctuate given time. We’re operating on a bigger scale,” Houston said.

While Dropbox saw the number of paying users rise to 13.6 million from 11.9 million a year ago, average revenue per user of $120.48 missed estimates of $120.8 according to Refinitiv.

The company’s net loss widened to $21.4 million, or 5 cents a share, from $4.1 million, or 1 cent a share, a year earlier.

Houston believes that the redesigned Dropbox service that was launched in June will continue to be the company’s focus and growth area going into the next quarter.

“What we’re focused on with the new Dropbox is solving new problems for our customers. The big growth opportunity for us is [bringing] the experience of using technology at work [which] has become really fragmented and overwhelming,” he said.

Despite the decline in its shares, the cloud storage company topped Wall Street estimates for the second quarter. Dropbox reported adjusted quarterly profit of 10 cents per share compared with 8 cents per share. Revenue came in at $401.5 million versus $400.9 million expected according to Refinitiv.

In response to what investors should know moving forward, Houston said, “We have more work to do to educate investors on our hybrid model, which combines the best elements of consumer internet and conventional enterprise software but doesn’t look quite like either one.”

“The benefits combined are really profitable. … But we have to help people understand that and understand why we’re so confident about our future.”


Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: jasmine kim
Keywords: news, cnbc, companies, growth, expansion, sees, dropbox, houston, investors, users, paid, share, million, revenue, plummet, slows, ahead, quarter, shares, user, ceo


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As China’s growth slows, CEO of Burger King’s parent focuses on the long-term opportunities

Restaurant Brands International CEO Jose Cil speaks during a television interview on the floor of the New York Stock Exchange. As China’s economy slows amid tensions with trade partners, Restaurant Brands International CEO Jose Cil said that the company is taking a long-term perspective on growing its brands in the country. The expansion is supposed to make Restaurant Brands one of the largest restaurant companies in the world. Tim Hortons plans to open 1,500 locations across the country in the


Restaurant Brands International CEO Jose Cil speaks during a television interview on the floor of the New York Stock Exchange. As China’s economy slows amid tensions with trade partners, Restaurant Brands International CEO Jose Cil said that the company is taking a long-term perspective on growing its brands in the country. The expansion is supposed to make Restaurant Brands one of the largest restaurant companies in the world. Tim Hortons plans to open 1,500 locations across the country in the
As China’s growth slows, CEO of Burger King’s parent focuses on the long-term opportunities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: amelia lucas
Keywords: news, cnbc, companies, china, chinas, growth, opportunities, longterm, view, slows, restaurant, plans, kings, parent, ceo, brands, country, open, focuses, trade, stores, cil, burger


As China's growth slows, CEO of Burger King's parent focuses on the long-term opportunities

Restaurant Brands International CEO Jose Cil speaks during a television interview on the floor of the New York Stock Exchange.

As China’s economy slows amid tensions with trade partners, Restaurant Brands International CEO Jose Cil said that the company is taking a long-term perspective on growing its brands in the country.

“Our view is that we want to be there, and we will be there for the long term. It’s an amazing consumption market, growing tremendously,” Cil said in an interview.

At its first investor day Wednesday, the parent company of Burger King, Tim Hortons and Popeyes Louisiana Kitchen said that it plans to surpass 40,000 stores in the next eight to 10 years. The expansion is supposed to make Restaurant Brands one of the largest restaurant companies in the world.

Chinese consumers’ appetite for burgers, coffee and fried chicken make the country an attractive market for the Toronto-based company, particularly as its sales growth in other markets declines. But the Chinese economy is slowing, and escalations in the trade war over the last week between China and the United States could mean a worse slowdown than expected.

Before the latest developments in the trade war, the International Monetary Fund predicted that China’s GDP will grow by 6.3% this year, which would mark its worst performance in 29 years.

“Our view on China — it’s a similar view for other markets as well — is that over time things will fluctuate, the economies will fluctuate, commodity costs, labor costs, even administrations will change from time to time,” Cil said.

Tim Hortons plans to open 1,500 locations across the country in the next decade as growth in its Canadian home market slows. It currently has 4 locations open in China.

Burger King already has a large footprint in the country, with more than 1,000 locations in China. In 2018 alone, it added about 140 new stores there.

Other companies see similar long-term opportunities. Yum China, the Chinese spinoff of Yum Brands, is accelerating its expansion of KFC. The Popeyes competitor opened its first store in the country more than three decades ago and added 191 new units during its first quarter.

Starbucks, which opened its first store in China 20 years ago, plans to open nearly 600 there in the second half of 2019 as part of its plan to remain the largest coffee chain in the country. China’s own Luckin Coffee, slated for a public debut on the New York Stock Exchange soon, has been trying to beat Starbucks with discounts and stores created for convenience.


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: amelia lucas
Keywords: news, cnbc, companies, china, chinas, growth, opportunities, longterm, view, slows, restaurant, plans, kings, parent, ceo, brands, country, open, focuses, trade, stores, cil, burger


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Singapore central bank stands pat on monetary policy as growth slows

17 out of 20 economists in a Reuters poll predicted that the central bank would keep monetary policy unchanged. Across Asia, a slowing world economy and abrupt end to Federal Reserve policy tightening have seen markets betting on outright rate cuts or easier policy stance for a growing list of central banks. “GDP growth in the Singapore economy has eased, bringing the level of output closer to its underlying potential. The central bank also on Friday revised down its 2019 core inflation forecast


17 out of 20 economists in a Reuters poll predicted that the central bank would keep monetary policy unchanged. Across Asia, a slowing world economy and abrupt end to Federal Reserve policy tightening have seen markets betting on outright rate cuts or easier policy stance for a growing list of central banks. “GDP growth in the Singapore economy has eased, bringing the level of output closer to its underlying potential. The central bank also on Friday revised down its 2019 core inflation forecast
Singapore central bank stands pat on monetary policy as growth slows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12
Keywords: news, cnbc, companies, bank, quarter, monetary, pat, stands, global, policy, central, tightening, growth, singapore, economy, slows


Singapore central bank stands pat on monetary policy as growth slows

Singapore’s central bank on Friday kept its monetary settings unchanged after two consecutive rounds of tightening, underscoring policymakers’ concerns about a cooling economy and rising risks to the outlook from slackening global demand.

The Monetary Authority of Singapore (MAS), which manages policy through exchange rate settings rather than interest rates, said it would maintain the slope of the Singapore dollar’s policy band while keeping the width and level at which the band is centered unchanged.

17 out of 20 economists in a Reuters poll predicted that the central bank would keep monetary policy unchanged.

Across Asia, a slowing world economy and abrupt end to Federal Reserve policy tightening have seen markets betting on outright rate cuts or easier policy stance for a growing list of central banks.

“GDP growth in the Singapore economy has eased, bringing the level of output closer to its underlying potential. Despite some pickup in labor costs, inflationary pressures are mild and should remain contained,” MAS said in its semi-annual statement.

MAS increased the slope of the policy band twice last year in efforts to control rising price pressures and strengthen its currency in its first such tightening moves in six years.

The central bank also on Friday revised down its 2019 core inflation forecast to 1 to 2 percent, from 1.5 to 2.5 percent previously.

Preliminary data for first-quarter gross domestic product (GDP) confirmed the city-state was experiencing its weakest growth in 2-1/2-years on a year-on-year basis.

From the year ago, GDP grew 1.3 percent in the first quarter, below the 1.5 percent expansion forecast in a Reuters poll.

GDP grew 2.0 percent in the January-March period from the previous three months on an annualized and seasonally adjusted basis, well above an expected 1.2 percent expansion.

Manufacturing, once a key pillar of growth for the city-state, showed a shock 12 percent fall in the first quarter from the quarter ago.

“We expected manufacturing to be down but the print is more severe than we thought,” Selena Ling, OCBC’s head of treasury research said.

The Singapore dollar was broadly unchanged after the decision.

Growth in the affluent city state has been dented over the past year by a Sino-U.S. trade dispute and slowing global demand.

“The uncertainty for the Singapore economy still remains the same, a two-pronged risk – U.S.-Sino trade relations and the maturing of the global electronics cycle,” said Barnabas Gan, Singapore economist at United Overseas Bank.


Company: cnbc, Activity: cnbc, Date: 2019-04-12
Keywords: news, cnbc, companies, bank, quarter, monetary, pat, stands, global, policy, central, tightening, growth, singapore, economy, slows


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Australia dollar skids as the economy slows sharply

Australia’s economy slowed sharply in the second half of last year as consumers shut their wallets and housing construction pulled back, data showed on Wednesday, sending the local currency to a two-month trough. The gross domestic product (GDP) figures showed the A$1.8 trillion ($1.32 trillion) economy expanded 0.2 percent in the fourth quarter, slower than the 0.3 percent increase economists had forecast in a Reuters poll. The disappointing outcome sent the Australian dollar down 0.4 percent t


Australia’s economy slowed sharply in the second half of last year as consumers shut their wallets and housing construction pulled back, data showed on Wednesday, sending the local currency to a two-month trough. The gross domestic product (GDP) figures showed the A$1.8 trillion ($1.32 trillion) economy expanded 0.2 percent in the fourth quarter, slower than the 0.3 percent increase economists had forecast in a Reuters poll. The disappointing outcome sent the Australian dollar down 0.4 percent t
Australia dollar skids as the economy slows sharply Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: brendon thorne, bloomberg, getty images
Keywords: news, cnbc, companies, sharply, outcome, australia, wednesdays, dollar, data, growth, trillion, slows, twomonth, skids, countrys, spending, gdp, showed, economy


Australia dollar skids as the economy slows sharply

Australia’s economy slowed sharply in the second half of last year as consumers shut their wallets and housing construction pulled back, data showed on Wednesday, sending the local currency to a two-month trough.

The gross domestic product (GDP) figures showed the A$1.8 trillion ($1.32 trillion) economy expanded 0.2 percent in the fourth quarter, slower than the 0.3 percent increase economists had forecast in a Reuters poll. Third-quarter growth was unrevised at 0.3 percent.

Annual GDP rose a below-trend 2.3 percent, the slowest since mid-2017 and confounding expectations for a 2.5 percent increase.

The dismal figures challenge the optimism of the country’s central bank, which expects growth to pick up to around 3 percent this year. The data also raises questions over whether the country’s recession-free run of 27 years is losing steam.

The disappointing outcome sent the Australian dollar down 0.4 percent to a two-month low of $0.7052.

A major setback in Wednesday’s data came from private consumption, which contributed just 0.2 percent to overall growth as households cut back on spending. The category accounts for about 57 percent of Australia’s GDP.

An escalating decline in Sydney and Melbourne home prices has eaten into consumer wealth at a time when they hold record levels of mortgage debt. A long stretch of unusually slow wages growth has also throttled household incomes, and shows few signs of changing anytime soon.

The sharper-than-expected downturn in the country’s once-booming property market has become a significant point of uncertainty for the Reserve Bank of Australia (RBA), which cut its growth and inflation forecasts last month and moved away from a previous tightening bias.

A decline in dwelling construction was one reason for the soft fourth-quarter outcome, while government spending was the only silver lining in Wednesday’s report.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: brendon thorne, bloomberg, getty images
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China is facing employment challenges as its economy slows, official says

China’s economic slowdown is creating some difficulties for national employment, an economic researcher in the country’s top executive body said Thursday. “When we look at the downward pressure on the Chinese economy, what we care most about is employment,” said Zhang Liqun, research fellow at the Macroeconomic Department of the Development Research Center of the State Council. For Beijing, keeping a handle on employment is critical to maintaining control over a massive country of more than a bi


China’s economic slowdown is creating some difficulties for national employment, an economic researcher in the country’s top executive body said Thursday. “When we look at the downward pressure on the Chinese economy, what we care most about is employment,” said Zhang Liqun, research fellow at the Macroeconomic Department of the Development Research Center of the State Council. For Beijing, keeping a handle on employment is critical to maintaining control over a massive country of more than a bi
China is facing employment challenges as its economy slows, official says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: evelyn cheng, jie zhao, corbis news, getty images
Keywords: news, cnbc, companies, employment, zhang, economic, widespread, china, official, challenges, beijing, companies, slows, chinese, worlds, facing, economy, research


China is facing employment challenges as its economy slows, official says

China’s economic slowdown is creating some difficulties for national employment, an economic researcher in the country’s top executive body said Thursday.

“When we look at the downward pressure on the Chinese economy, what we care most about is employment,” said Zhang Liqun, research fellow at the Macroeconomic Department of the Development Research Center of the State Council. Zhang was speaking in Mandarin through a translator at a press event in Beijing on Thursday morning.

For Beijing, keeping a handle on employment is critical to maintaining control over a massive country of more than a billion people. Widespread job losses could lead to undesirable social unrest.

Unemployment in the world’s second-largest economy remains low compared with other countries, near five percent or below. But amid persistent skepticism about the accuracy of such data, official reports are beginning to show some challenges in Chinese people’s ability to hold jobs.

Zhang’s on-the-record comments on Thursday provided greater insight into how severe unemployment issues might be, at least in labor-intensive industries.

“Many of the companies in Guangdong province have permitted leave for their employees since November — many of the export companies,” he said. “That has something to do with the U.S.-China trade frictions.”

“Many of these companies think they have done what they can do before November and they are not planning to organize further production after that,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: evelyn cheng, jie zhao, corbis news, getty images
Keywords: news, cnbc, companies, employment, zhang, economic, widespread, china, official, challenges, beijing, companies, slows, chinese, worlds, facing, economy, research


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Chinese tourism growth slows during the Lunar New Year holiday

Tourism growth in China slowed during this year’s major Spring Festival holiday, indicating overall sentiment around the economy has yet to turn around. Chinese New Year is typically spent visiting relatives, but as one of China’s few major public holiday seasons, it has increasingly become a popular time to travel. This year, the work holiday officially ran the first full week of February. The closely watched Chinese consumer has become a significant force in overseas travel. The auto sector —


Tourism growth in China slowed during this year’s major Spring Festival holiday, indicating overall sentiment around the economy has yet to turn around. Chinese New Year is typically spent visiting relatives, but as one of China’s few major public holiday seasons, it has increasingly become a popular time to travel. This year, the work holiday officially ran the first full week of February. The closely watched Chinese consumer has become a significant force in overseas travel. The auto sector —
Chinese tourism growth slows during the Lunar New Year holiday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: evelyn cheng, vcg, getty images
Keywords: news, cnbc, companies, tourism, slows, work, chinese, willing, lunar, watched, week, major, china, holiday, economy, growth, overseas


Chinese tourism growth slows during the Lunar New Year holiday

Tourism growth in China slowed during this year’s major Spring Festival holiday, indicating overall sentiment around the economy has yet to turn around.

Chinese New Year is typically spent visiting relatives, but as one of China’s few major public holiday seasons, it has increasingly become a popular time to travel. This year, the work holiday officially ran the first full week of February. Tuesday, the 15th day from the start of the Lunar New Year, marked the traditional end of the celebrations.

The closely watched Chinese consumer has become a significant force in overseas travel.

An increasing number of merchants overseas have adopted Chinese mobile pay, while many retailers have employed Mandarin-speaking staff. Within China, economic slowdown and uncertainty around issues such as the U.S.-China trade tensions have already put some pause on big-ticket purchases.

Car sales fell for a seventh straight month in January, data this week showed. The auto sector — a major part of the Chinese economy — is watched as a barometer on how much consumers are willing to spend.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: evelyn cheng, vcg, getty images
Keywords: news, cnbc, companies, tourism, slows, work, chinese, willing, lunar, watched, week, major, china, holiday, economy, growth, overseas


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China’s inflation slows in January, potentially pushing officials to step in, says economist

CPI eased due to a decline in food prices, wrote Dong Yaxiu, a statistics bureau official, in an analysis of the data. Meanwhile, producer inflation rose just 0.1 percent from a year ago, compared to a 0.2 percent rise expected by economists polled by Reuters. China’s December Producer Price Index — which measures price increases before they reach the consumer — had risen 0.9 percent on-year. While CPI remains at a “comfortable level,” Evans-Pritchard said in a note on Friday that the weak produ


CPI eased due to a decline in food prices, wrote Dong Yaxiu, a statistics bureau official, in an analysis of the data. Meanwhile, producer inflation rose just 0.1 percent from a year ago, compared to a 0.2 percent rise expected by economists polled by Reuters. China’s December Producer Price Index — which measures price increases before they reach the consumer — had risen 0.9 percent on-year. While CPI remains at a “comfortable level,” Evans-Pritchard said in a note on Friday that the weak produ
China’s inflation slows in January, potentially pushing officials to step in, says economist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: huileng tan, getty images
Keywords: news, cnbc, companies, producer, weak, officials, inflation, statistics, risen, senior, wrote, slows, prices, chinas, price, step, economist, cpi, pushing, potentially


China's inflation slows in January, potentially pushing officials to step in, says economist

China’s Consumer Price Index missed expectations in January coming in at 1.7 percent higher than a year ago, the National Bureau of Statistics said on Friday.

Economists polled by Reuters were expecting CPI to come in at 1.9 percent higher year-over-year. December CPI — a gauge of prices for goods and services — had risen 1.9 percent on-year.

CPI eased due to a decline in food prices, wrote Dong Yaxiu, a statistics bureau official, in an analysis of the data.

Meanwhile, producer inflation rose just 0.1 percent from a year ago, compared to a 0.2 percent rise expected by economists polled by Reuters. China’s December Producer Price Index — which measures price increases before they reach the consumer — had risen 0.9 percent on-year.

January marked the seventh straight month of slowing factory gate inflation, according to Reuters records.

The below-consensus inflation figures suggest that demand “remained sluggish” at the start of 2019, which may spur official action to support the economy, wrote Julian Evans-Pritchard, senior China economist at Capital Economics.

While CPI remains at a “comfortable level,” Evans-Pritchard said in a note on Friday that the weak producer price numbers are “a concern since these are highly correlated with profit growth in industry.”

He predicted Beijing will roll out measures, such as cutting benchmark lending rates, to ease financial pressure on industrial firms as factory gate inflation looks to deepen in the months ahead.

However, weak producer prices do not always feed through into the CPI due to the concentration of heavy industries in the PPI, said Sian Fenner, a senior economist at Oxford Economics. Weak oil prices recently weighed on PPI, she noted.

“We are still expecting the disparity between the two to continue,” she told CNBC.

The data comes amid a new round of U.S.-China talks in Beijing this week as the world’s two largest economies renewed efforts to reach a deal to defuse trade tensions.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: huileng tan, getty images
Keywords: news, cnbc, companies, producer, weak, officials, inflation, statistics, risen, senior, wrote, slows, prices, chinas, price, step, economist, cpi, pushing, potentially


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China’s real estate loan growth slows further in 2018

Outstanding yuan property loans grew 20 percent from a year earlier to 38.7 trillion yuan ($5.72 trillion) by end-December, compared with 20.9 percent growth in 2017, the People’s Bank of China (PBOC) said in a quarterly financial report. Outstanding mortgage lending climbed 17.8 percent year-on-year to 25.75 trillion yuan by the end of 2018, below a 22.2 percent rise in 2017, central bank data showed. That was just ahead of the slowest pace of growth last year at 7.7 percent recorded for Octobe


Outstanding yuan property loans grew 20 percent from a year earlier to 38.7 trillion yuan ($5.72 trillion) by end-December, compared with 20.9 percent growth in 2017, the People’s Bank of China (PBOC) said in a quarterly financial report. Outstanding mortgage lending climbed 17.8 percent year-on-year to 25.75 trillion yuan by the end of 2018, below a 22.2 percent rise in 2017, central bank data showed. That was just ahead of the slowest pace of growth last year at 7.7 percent recorded for Octobe
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Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, real, loans, chinas, central, bank, loan, slows, property, pace, 2018, sector, data, growth, yuan, estate, trillion


China's real estate loan growth slows further in 2018

Loans to China’s property sector grew at a slower pace in 2018 as Beijing tightened home-purchase rules to curb bubble risk, but lending to property developers expanded slightly faster than the year before, central bank data showed on Friday.

Outstanding yuan property loans grew 20 percent from a year earlier to 38.7 trillion yuan ($5.72 trillion) by end-December, compared with 20.9 percent growth in 2017, the People’s Bank of China (PBOC) said in a quarterly financial report.

Outstanding mortgage lending climbed 17.8 percent year-on-year to 25.75 trillion yuan by the end of 2018, below a 22.2 percent rise in 2017, central bank data showed.

Policymakers have vowed to ensure “stable and healthy” development of the property market, repeatedly emphasizing that homes are for living in, not speculative investment.

The government’s sustained drive to reduce debt risks in the economy has cooled the property market but a continued downturn in credit growth in the sector could add to growing pressures on the world’s second-largest economy.

The real estate sector is a key driver of economic growth, so any further weakness could influence the pace and scope of fresh stimulus steps expected from Beijing this year.

Property investment is also looking wobbly, with analysts waiting to see if the government will risk loosening restrictions on home buyers that have kept speculation in check.

Real estate investment in December rose 8.2 percent from a year earlier, down from 9.3 percent in November, according to Reuters calculations based on data released by the National Bureau of Statistics.

That was just ahead of the slowest pace of growth last year at 7.7 percent recorded for October.

Developers raised their borrowings last year though, with loans extended for property development up 22.6 percent in 2018 versus growth of 21.7 percent in 2017, the report showed.

The central bank also said outstanding household loans jumped 18.2 percent to 47.9 trillion yuan by end-2018.


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, real, loans, chinas, central, bank, loan, slows, property, pace, 2018, sector, data, growth, yuan, estate, trillion


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