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China's economic powerhouse Guangdong targets 2023 GDP growth of over 5 pct

File photo: CGTNGUANGZHOU, Jan. 12 (Xinhua) -- Chinas manufacturing heartland Guangdong Province has set a GDP growth target of at least 5 percent for 2023, Guangdong governor Wang Weizhong said Thursday.The GDP of the southern province was estimated at 12.8 trillion yuan (about 1.9 trillion U.S. dollars) in 2022, said Wang as he delivered the government work report at the annual session of the Guangdong Provincial Peoples Congress.

Chinese yuan strengthens to 6.7680 against USD Thursday

BEIJING, Jan. 12 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 76 pips to 6.7680 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System.In Chinas spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

ChiNext Index opens higher Thursday

BEIJING, Jan. 12 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, was up 0.4 percent to open at 2,455.73 points Thursday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares open higher Thursday

BEIJING, Jan. 12 (Xinhua) -- Chinese stocks opened higher Thursday, with the benchmark Shanghai Composite Index up 0.17 percent to open at 3,167.27 points.The Shenzhen Component Index opened 0.27 percent higher at 11,470.61 points.

Tesla plans expansion at US Texas factory

Tesla Superchargers are seen at the Petaluma Supercharger on March 9, 2022 in Petaluma, California, U.S. (Photo: CFP)SAN FRANCISCO, Jan. 11 (Xinhua) -- Tesla has filed a plan to regulators of the U.S. state of Texas to invest about 770 million U.S. dollars for the expansion of its factory near Austin, according to a report by the TechCrunch on Wednesday.The filings to the Texas Department of Licensing and Registration show the company plans to build new facilities at the site this year, including one for battery cell testing and another manufacture cathode and drive units. Tesla also plans to build a die shop at the factory site, according to the registration.The expansion comes less than a year after the factorys official opening. The Tesla factory in Austin officially opened in April 2022.The factory is used to assemble Model Y vehicles. Tesla CEO Elon Musk said once the Texas factory achieves volume production, the company will focus on the production of Cybertruck, which is supposed to begin this summer.

China's CPI up 2 pct in 2022

File photo: VCGBEIJING, Jan. 12 (Xinhua) -- Chinas consumer price index (CPI), a main gauge of inflation, rose 2 percent year on year in 2022, the National Bureau of Statistics (NBS) said Thursday.In December, Chinas CPI rose 1.8 percent year on year, up from 1.6 percent in November.Prices were generally stable in December thanks to Chinas efforts to better coordinate epidemic response and economic and social development, and the countrys adoption of measures to ensure market supply and stabilize prices, said Dong Lijuan, chief statistician with the NBS.   On a monthly basis, the CPI remained flat in December. Food prices reversed the 0.8-percent fall in November to rise 0.5 percent month on month, raising the monthly consumer inflation by about 0.09 percentage points, according to the NBS data.Specifically, the price of pork, a staple meat in China, fell 8.7 percent in December from the previous month, due to increased supply.However, pork prices still hiked 22.2 percent year on year, narrowing by 12.2 percentage points from the previous month.Prices of fresh vegetables and fruit rose 7 percent and 4.7 percent from November, respectively, due to seasonal factors.Non-food prices dipped 0.2 percent month on month in December. Driven by lower international oil prices, domestic gasoline and diesel prices dropped 6.1 percent and 6.5 percent, respectively, from November.Thursdays data also showed that Chinas producer price index, which measures costs for goods at the factory gate, slid 0.7 percent year on year in December.

China's PPI down 0.7 pct in December

File photo: CGTNBEIJING, Jan. 12 (Xinhua) -- Chinas producer price index (PPI), which measures costs for goods at the factory gate, went down 0.7 percent year on year in December 2022, the National Bureau of Statistics (NBS) said Thursday.The decrease was narrowed by 0.6 percentage points from that registered in November. On a monthly basis, Chinas PPI edged down 0.5 percent in December, according to the NBS.The narrowed year-on-year decrease in December was due to the lower comparison base in the same period of the previous year, while declining oil prices led to the monthly PPI decrease in December, said senior NBS statistician Dong Lijuan.Chinas PPI went up 4.1 percent year on year in 2022, NBS data revealed.The PPI of the oil and gas extraction industry dropped by 8.3 percent month on month as a result of declining international crude oil prices, according to the NBS.The PPI of the agricultural and sideline food processing industry edged down 1 percent month on month, while that of computer communications and other electronic equipment manufacturing industries declined 0.2 percent month on month.Thursdays data also showed that Chinas consumer price index (CPI), a main gauge of inflation, rose 1.8 percent year on year in December 2022. For the whole of 2022, CPI rose 2 percent year on year.

Tokyo shares open higher as investors await US CPI

Tokyo shares opened higher Thursday on continued hopes for slowing US inflation and less aggressive tightening, as investors awaited the release of US consumer price data.The benchmark Nikkei 225 index rose 0.24 percent, or 63.90 points, to 26,509.90 in early trade, while the broader Topix index added 0.12 percent, or 2.37 points, to 1,903.62.

China's COVID-19 management adjustment beneficial to world economy

The International Department of the CPC Central Committee holds a briefing on China's COVID-19 management on Jan 10, 2023. (Photo by Wang Zhuangfei/chinadaily.com.cn)A briefing was held by the International Department of the CPC Central Committee for foreign business representatives in China on Tues

Shanghai targets GDP growth at over 5.5 pct in 2023

China's financial hub Shanghai expects to notch a year-on-year gross domestic product (GDP) growth of over 5.5 percent this year, according to a government work report delivered by the city's mayor, Gong Zheng, on Wednesday.For the second year in a row, Shanghai's GDP exceeded the four-trillion-yuan

International travel expected to accelerate

A widebody A330-200 aircraft of China Eastern is set to take off from Shenzhen Baoan International Airport in Shenzhen, Guangdong province. (Photo by Liu Yi/For China Daily)China's civil aviation authority has examined applications for the resumption of international flights by Chinese and foreign a

ChiNext Index closes lower Wednesday

BEIJING, Jan. 11 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, lost 1.13 percent to close at 2,445.97 points Wednesday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares close lower Wednesday

BEIJING, Jan. 11 (Xinhua) -- Chinese stocks closed lower on Wednesday, with the benchmark Shanghai Composite Index down 0.24 percent to 3,161.84 points.The Shenzhen Component Index closed 0.59 percent lower at 11,439.44 points.

China's Tianjin targets 4 pct GDP growth in 2023

File photoTIANJIN, Jan. 11 (Xinhua) -- North Chinas Tianjin Municipality targets economic growth of about 4 percent in 2023, according to the ongoing annual session of the municipal peoples congress.Tianjin aims to increase its fixed-asset investment by about 3 percent and its total retail sales by about 6 percent in 2023, Zhang Gong, mayor of Tianjin, said when delivering the government work report at the local legislative session Wednesday.According to the report, Tianjin also aims to create 350,000 new jobs, with its surveyed urban unemployment rate to stay at about 5.5 percent in 2023.In 2022, Tianjins GDP is expected to reach about 1.6 trillion yuan and the per capita disposable income of local residents is expected to grew at an average annual rate of 5.7 percent. The city implemented targeted policies to stabilize employment, creating 360,000 new jobs last year.

ChiNext Index lower at midday Wednesday

BEIJING, Jan. 11 (Xinhua) -- The ChiNext Index, tracking Chinas Nasdaq-style board of growth enterprises, went down 0.51 percent to 2,461.26 points in the morning session Wednesday.The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares mixed at midday Wednesday

BEIJING, Jan. 11 (Xinhua) -- Chinas major stock indices ended mixed in the morning session Wednesday, with the benchmark Shanghai Composite Index up 0.2 percent to 3,175.8 points.The Shenzhen Component Index lost 0.03 percent to 11,503.33 points at midday.

World Bank cuts 2023 global growth forecast to 1.7%

File photo: CGTNGlobal growth is expected to slow "perilously close" to recession this year, the World Bank said on Tuesday.The "sharp, long-lasting slowdown" will likely see world growth drop to 1.7 percent, roughly half the rate previously predicted and among the weakest pace in decades, it said in a report.

China's central bank conducts reverse repos to boost liquidity

BEIJING,Jan.11(Xinhua)--China'scentralbankWednesdayconducted87billionyuan(about12.8billionU.S.dollars)ofreverserepostomaintainliquidityinthebankingsystem。

China's financial hub Shanghai targets 2023 GDP growth at over 5.5 pct

File photo: China.org.cnSHANGHAI, Jan. 11 (Xinhua) -- Chinas financial hub Shanghai expects to notch a year-on-year gross domestic product (GDP) growth of over 5.5 percent this year, according to a government work report delivered by the citys mayor Gong Zheng on Wednesday.For the second year in a row, Shanghais GDP exceeded the four-trillion-yuan (about 590 billion U.S. dollars) threshold in 2022, according to the work report delivered at the ongoing first session of the 16th Shanghai Municipal Peoples Congress.

China's assistance boosts Cambodia's economic development: Cambodian PM

Cambodian Prime Minister Samdech Techo Hun Sen (R) and Chinese Ambassador to Cambodia Wang Wentian attend a groundbreaking ceremony of the project to expand and upgrade the section of National Road No. 7 from Skun to Kampong Cham. (Photo from Hun Sen's Facebook account)

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