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backCHINAtalk May, 2012

China Manufacturing Monthly Recap

May 2 - China's official purchasing managers' index, a benchmark gauge for manufacturing, rose 0.2 points from a month earlier to 53.3 in April, marking the fifth straight month of rise, the China Federation of Logistics and Purchasing said. The reading was much lower than the 49.3 compiled by HSBC Holdings PLC and 2.7 points weaker than in the same month a year ago.

April 26 – Output from China's food industry is expected to grow 15% annually to 12 trillion yuan by 2015, the National Development and Reform Commission predicted.

April 24 – China rolled out 174.22 million tons of crude steel in Q1 2012, up 2.5% from the the same period a year ago, the National Development and Reform Commission said. The growth rate was 6.2 percentage points slower than in Q1 2011. Iron ore imports rose 6% year on year to 187.62 million tons in the three month through March.

April 13 – China's value added industrial output expanded 11.9% year on year in March, where the growth of light industries was 13.9% and the growth of the heavy industries was 11.2%, the National Bureau of Statistics said. Output from state–owned industrials was up 8% and output from non mainland–funded industrials was up 8.2%. During Q1 2012, the nation's value added industrial output grew 11.6%.

April 11 – Daily crude steel output from China's major mills averaged 1.62 million tons in the second 10 days of March, and nationwide daily production may have totaled 1.92 million tons, the China Iron & Steel Association predicted.

April 1 – China's manufacturing improved for a fourth consecutive month as the official purchasing managers index gained 2.1 points from February to 53.1 in March, the China Federation of Logistics and Purchasing said. The better performance was fueled by the tobacco, automotive, electrical appliances and machinery sectors. Separately, HSBC's final reading for the nation's PMI was 48.3, slightly higher than the previously estimated 48.1.

April 1 – China's 26,647 petrochemical companies (each posting at least 20 million yuan in annual revenues) produced 1.73 trillion yuan worth of goods in the first two months of 2012, up 16.3% year on year and accounting for 13.9% of the nation's total industrial output over the period, figures from the China Petroleum & Chemical Industry Association have shown. The petrochemical industry's bilateral trade grew 20.4% to $101.33 billion between January and February, where imports were up 22.6% to $76.09 billion and exports were up 14% to $25.24 billion.

March 29 – China's cement output will grow 6% to 80% this year, the China Cement Association said. The nation produced 2.09 billion tons of cement and consumed 2.07 billion tons in 2011, up 11% and 11.2% respectively from the year before. The cement industry reported a 102 billion yuan gross profit, up 67% from 2010.

March 29 – China's 77 major steel mills reported a combined 548 million yuan loss in February against lingering crimped demand and surging raw material costs, the China Iron & Steel Association said. In the first two months of this year the losses have accumulated to 2.8 billion yuan.

March 28 – Chinese industrial profits declined 5.2% year on year to 606 billion yuan in the first two months of 2012, marking the first January–February profit drop since 2009 as a result of the slack export and property markets. Industrial profits reaped by state–owned companies were down 19.7% to 179.1 billion yuan; industrial profits reaped by foreign–funded companies were down 18.9% to 141.9 billion yuan; industrial profits reaped by the private sector however expanded 24.4% to 200.2 billion yuan. The figures were based on those posting at least 20 million yuan in annual revenues.

March 28 – China's wine production rose 13% to 1.16 million kiloliters in 2011, making the country the world's seventh biggest producer, according to Yang Qiang, a wine expert with the China National Food Industry Association. The nation's wine industry reported 38.46 billion yuan in revenues and 5.07 billion yuan in gross profits last year, up 21.1% and 14% respectively from 2010. China imported 361,600 kiloliters of wine valued at $1.39 billion in 2011, up 27.6% and 80.9% respectively from 2010.

Source: The China Perspective - GAI

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