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China Economy News Flash 29 December, 2016
Dec 29, 2016  09:16:51
Abstraction: According to Chinese Custom data, Chinese iron ore imported volume was 91.98 Mt in November, up 11.18 Mt m-o-m, up 9.85 Mt y-o-y. It is forecasted that Chinese iron ore imported volume will meet 103.3 Mt in 2016.
1. According to Chinese Custom data, Chinese iron ore imported volume was 91.98 Mt in November, up 11.18 Mt m-o-m, up 9.85 Mt y-o-y. It is forecasted that Chinese iron ore imported volume will meet 103.3 Mt in 2016. 2. Profits at China’s industrial companies jumped 14.5 percent in November from a year earlier as raw material producers benefited from higher prices of coal and metal, official figures show. Profits at firms with annual revenue of more than CNY20 million (USD2.9 million) gained 9.4 percent on average in the January to November period, 0.8 point higher than in January-October, the National Bureau of Statistics said on its website. That compares with a 9.8 percent in October. 3. The People’s Bank of China published for public comment on its website today its decision to amend the Administrative Measures for Auto Loans. The bank and the China Banking Regulatory Commission would set the proposed limit. The price of a new car refers to the purchase cost or price as published by the automaker, whichever is lower, excluding government subsidies, taxes and insurance costs. For used cars, it would be the transaction price or price as appraised by the lender, whichever is lower, excluding subsidies, taxes and insurance fees. 4. The total number of new jobs created in urban and rural areas for the full year is expected to be 13 million, well above the 10 million target, said Yin Weimin, of China’s Ministry of Human Resources and Social Security. -Edited by Kian Han (DID: 86-21-26094354, Email:hanjr@mysteel.com)...

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