hina’s economic growth will remain stable in the first quarter, and is expected to land at 6.3 percent or even higher year-on-year when it is released this week, e
conomists said after some economic indicators for March surprised the market on the upside.
“Downside pressure began to ease in the first quarter, as signaled by the r
ather substantial recovery in various economic indicators in March,” said Yao Jingyuan, form
er chief economist at the National Bureau of Statistics and a researcher for the Counselors’ Office of the State Council.
Chinese banks’ lending in yuan, a leading indicator for the real economy
, surged in March by 1.69 trillion yuan ($252 billion), up 52 percent from a year earli
er, according to the People’s Bank of China, the central bank. The manufacturing purchasing managers inde
x for March, which was back into expansion territory, may be a sign of accelerating industrial activities.
Exports in March also picked up, rising 14.2 percent in US dollar ter
ms from a year ago, versus 0.1 percent for the January-February period, customs data showed.
A man has been arrested after an incident in west London on Saturday morning. Police f
irearms and Taser were discharged, according to a latest statement released by Metropolitan Police.
According to the statement, police were called at around 8:30 am local time on Saturday, with reports o
f a car in collision with a number of parked vehicles near the Ukrainian Embassy in Holland Park, west London.
“As part of the protective security arrangements for London, armed and unarmed officers were
deployed to this incident,” said the statement, adding that “on arrival at the scene, a vehicle was driven at police officers.”
Police confirmed that firearms and Taser were discharged, the vehicle was stopped and a man in his 40s was arrested, not injured.
Andy Walker, chief superintendent in the Met’s Specialist Firearms Command, said: “as is st
andard procedure, an investigation is now ongoing into the discharge of a police firearm during this incident.”
The city of Shanghai has become the first local government to answer the call of the central gove
rnment to promote automobile consumption by providing subsidies, since 10 mi
nistries and commissions of the country released six major methods of promoting car sales in January.
The official WeChat account of the Shanghai Municipal Government announced yesterday it will launch a car trade-i
n program, encouraging car owners to trade in their vehicles for new gas-powered cars complying with State-VI emi
ssions standards or new energy vehicles, according to a report by the 21st Century Business Herald.
The government will provide a subsidy of 10,000 yuan ($1,489) for a trade-in gas-powered
vehicle and 15,000 yuan for a trade-in new energy vehicle, the announcement said.
China’s automobile market saw a sales decline in 2018 for the first time
in 28 years, with passenger vehicle sales slumping for 10 consecutive months from last y
ear to March, according to the China Passenger Car Association. As the central government halved subsidies for new energy
vehicles this year, the promotion of car consumption depends more on local governments and enterprises.
energy vehicles (NEV), sales of NEVs reached 111,000 in March, up 100.9 percent year-o
n-year, with NEV wholesales accounting for 254,000 units in the first quarter.
CPCA predicts a 40 percent increase in NEV sales to 1.7 million
units in 2019, based on these first quarter figures.
As China began to cut manufacturing sector VAT from 16 to 13 percent on April 1, som
e imported and high-end vehicle brands lowered prices to boost sales nationwide.
As the industrial chain of domestic-made goods are comparatively longer than that of imports howe
ver, most domestic manufacturers have not lowered prices for goods, including automobiles.
“Consumers should not expect too much on price cuts of automo
biles, but choose vehicles based on demand and affordability,” CPCA said.
was “extremely unlikely” any of the 27 countries would veto a delay.
AP”If one country was to veto an extension and, as a result, impose hardship on us, real problems for the Dutch and Belgians
and French as neighboring countries (to the UK)…they wouldn’t be forgiven for it,” he told Ireland’s RTE radio.
magnitude earthquake at a depth of 17 kilometers was detected at 1:25 pm on Sund
ay in Beijing’s Haidian district, according to the China Earthquake Networks Center.
Two earthquake experts said the minor quake was a normal activity in the earth’s crust caused by chan
ges in crustal stress, and there is no need for the public to panic, according to a report on huanqiu.com.
“It is a normal and isolated event,” said Guo Xun, dean of the Civil Engineering School at the Institute of Disaster Prevention.
“As Beijing is at the junction of the earthquake zones of Shanxi province, the Hebei Plain
and Yanshan Mountain, the city will experience one to two earthquakes at around magnitude-3 degree ev
ery year, according to past experience,” Sun Shihong, a researcher at the China Earthquake Networks Center, added.
last year. Every day, an average of 5.5 million people use the nation’
s high-speed trains, accounting for nearly 60 percent of daily users of the country’s rail network.
The State-owned rail car manufacturer CRRC Corp, the world’s largest train maker, had sta
rted developing a new-generation of bullet train that will operate at 400 kilometers per hour.
A preliminary report issued on Thursday by Ethiopian officials found that a malfunctioning sensor sent incorrect inform
ation to a Boeing 737 Max 8 jetliner, triggering an anti-stall system that began a chain of events that ended with th
e plane nose-diving into the ground, killing 157 people on March 10, the Associated Press reported.
Boeing has acknowledged that the sensor malfunctioned in the Ethiopian Airlines 737
Max jetliner, triggering the anti-stall system when it was not needed, the AP reported.
In addition, CRRC is designing two types of maglev trains-a 600 km/h high-speed version and a 200 km/h medium-speed ver
sion. Designers said the company expects to put them into service sometime around 2021.