首页 > >
Shanghai's vehicle exports surge in first three quarters******
SHANGHAI, Oct. 25 (Xinhua) -- Shanghai exported 333,000 motor vehicles in the first three quarters of 2021, up 164 percent from the same period last year, Shanghai customs said Monday.
The total value of these vehicles was 37.85 billion yuan (about 5.92 billion U.S. dollars), up 224 percent year on year, said the customs.
The European Union (EU) and Australia were the top two export markets for Shanghai vehicles from January to September, receiving 67,000 and 53,000 vehicles, respectively. The figures accounted for 36.2 percent of Shanghai's total automobile exports.
Shanghai's import and export volume totaled 2.92 trillion yuan in the first three quarters, up 15.4 percent year on year. The municipality's exports rose by 9.9 percent, while imports went up 19.1 percent. Enditem
Russian UN ambassador regrets US decision to expel 12 members of his mission******
Permanent Representative of the Russian Federation to the United Nations, Ambassador Vasily Nebenzia, speaks during a hybrid press briefing at the United Nations headquarters on February 28, 2022 in New York.
Russia's permanent representative to the United Nations, Vassily Nebenzia, on Monday regretted a US decision to expel 12 staff members of the Russian UN mission.
"I would like to inform you about yet another hostile step taken by the host country – a step against the Russian mission. Just now, literally, an hour ago, we were informed that from the Russian mission, 12 of its staff are being expelled," said Nebenzia at the beginning of a Security Council meeting that he was chairing.
The decision is "yet another gross violation" of the UN Headquarters agreement signed by the United States as the host country, and of the Vienna Conventions, said Nebenzia.
"We keep being told about the need for diplomacy, diplomatic solutions. At the same time, our opportunities to conduct this kind of activity are being restricted," he said. "We deeply regret this decision. And we'll see how the events develop within the context of this decision."
US deputy permanent representative to the United Nations, Richard Mills, said the 12 staff members of the Russian mission were ordered to leave because they engaged in "activities that were not in accordance with their responsibilities and obligations as diplomats."
"They have been given a request to depart this country so they do not harm the national security of the host country," said Mills.
Nebenzia said the US representative's response was not satisfactory.
The US decision came amid Russian military operations in Ukraine.
Economic Watch: China increases energy supply, calming stagflation concerns******
BEIJING, Nov. 16 (Xinhua) -- China has ramped up energy production and reined in prices to secure sufficient energy for factories and support the economy, assuaging concerns over stagflation.
Energy prices have surged globally since the start of this year amid a supply crunch. In China, energy strains caused power outages in September, hitting families in certain regions and forcing some factories to halt production.
"China has worked to boost coal production and bring coal prices back to a reasonable range," Meng Wei, spokesperson for the National Development and Reform Commission, told a regular press conference Tuesday.
HIGHER OUTPUT, LOWER PRICES
China's coal output grew 4 percent year on year to 360 million tonnes in October, and coal production is maintaining steady growth this month, showed data from the National Bureau of Statistics (NBS).
The coal stockpiles of the country's power producers rebounded, with power plants nationwide reporting a total of 129 million tonnes of coal in their inventories on Nov. 14, sufficient for 22 days of consumption. This is nine days more than the level at the end of September.
Increased coal output and inventories at power plants helped drive down the once-soaring coal prices, with coal futures on the Zhengzhou Commodity Exchange diving nearly 60 percent from their peak within a month.
Apart from coal, China also cranked up the production of natural gas to ensure adequate supplies. Since Nov. 7, China's daily supply of natural gas has reached more than 1 billion cubic meters, about 100 million cubic meters more than the same period last year.
"Gas companies must enhance production to increase domestic supplies," Meng said.
EASING STAGFLATION CONCERNS
A surge in commodity prices once raised concerns of stagflation in the world's second-biggest economy, an economic phenomenon in which prices rise yet business activity stagnates. Stagflation leads to high unemployment and reduced consumer spending power. The once-soaring energy prices increased production costs to companies and exacerbated stagflation concerns.
There seemed to be some signs of stagflation due to the pandemic, natural disasters, international commodity price hikes, and tightening supplies of raw materials. These were "caused by short-term factors, and the situation will be temporary," said NBS spokesperson Fu Linghui.
The country's economy has maintained sound recovery, according to NBS data on Monday, with retail sales and factory output beating expectations and the unemployment rate remaining low in October.
China's value-added industrial output increased 3.5 percent year on year in October, compared with 3.1 percent in September. Retail sales of consumer goods increased 4.9 percent year on year last month, 0.5 percentage points higher than a month earlier. The surveyed urban unemployment rate stood at 4.9 percent in October, 0.4 percentage points lower than in the same period last year.
UBS analyst Wang Tao echoed Fu's view, dismissing risks of stagflation, partly because the energy crunch has eased.
"We expect the producer price index to wane next year as energy shortages get addressed, and the whole year's consumer price index to hit 2 percent, so the country will be unlikely to go through stagflation," Wang noted. Enditem