Two tidbits that caught my attention:
China's steel-makers are apparently cutting back their production quite sharply once again, as recent production increases have led to a massive surge in inventories.
China's "fiscal revenue" is down 11 % yoy for Jan/Feb. Local government revenue was stable, but the central government's revenue dropped by 20 %. Total tax revenue was down 13 %, of which "business tax" revenue was down 5 %. "Business profits" from SoEs were also down (the extent of their drop was unspecified, but considering that taxes and total revenues dropped by a similar amount, business profits were also in the same ballpark). That's quite a drop for a country used to nominal growth of 10-15 %. Though as usual, one shouldn't read too much into a mere two-month-period.
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Shaun Rein on the TSM
vor 1 Jahr
Could you bring same link?
AntwortenLöschenThe drop in the revenue is interesiting.It mean that the export drop feed itself throught the domestic economy.And it is fast.
I picked it up here:
AntwortenLöschenhttp://www.chinaknowledge.com/Newswires/News_Detail.aspx?type=1&NewsID=22162
And then noticed that the data was first announced more than a week ago in this Xinhua article:
http://news.xinhuanet.com/english/2009-03/13/content_11006826.htm
Feb was better than Jan, but that was most likely due to the Chinese New Year effect.