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MNI China Press Digest March 10: Labour, Exports, CPI

MNI picks keys stories from today's China press
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaPolicy StoryStoryRegion
MNI (BEIJING)

Highlights from Chinese press reports on Monday:

  • Authorities will support labour-intensive industries to stabilise employment during periods of transformation and upgrading, said Wang Xiaoping, Minister of Human Resources and Social Security. Wang called for a balance between technological innovation and employment, and noted this year's 12.2 million college graduates and a large number of migrant workers required a stable job market. However, increasing external uncertainties and an unstable economic rebound could bring challenges, said Wang. (Source: Yicai.com)
  • China’s slowdown in export growth to 2.3% y/y during January and February could indicate the surge of previous months has declined, according to Yang Chang, chief analyst at Zhongtai Securities Research Institute. Zeng Gang, dean of the Institute of Urban Development at East China Normal University, said policymakers should focus on transitioning to high-quality trade given China's comparative advantage in low-cost manufacturing will be difficult to maintain, regardless of tariffs. Wang Qing, chief macro analyst at Orient Securities, highlighted the trade war will be offset by emerging external drivers, such as cross-border e-commerce and services exports. (Source: Yicai)
  • China’s consumer price index is expected to reach 0.3% y/y in March, up from February’s 0.7% fall, according to Feng Lin, director of research at Orient Jincheng, citing recent trends in high-frequency data and the current consumer market supply and demand balance. Looking ahead, Mingming, chief economist at CITIC Securities, said PPI y/y declines may narrow from February's 2.2% fall, as demand increases and ferrous industry prices gain momentum, however geopolitics brings uncertainty. (Source: Securities Daily)
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MNI (BEIJING)

Highlights from Chinese press reports on Monday:

  • Authorities will support labour-intensive industries to stabilise employment during periods of transformation and upgrading, said Wang Xiaoping, Minister of Human Resources and Social Security. Wang called for a balance between technological innovation and employment, and noted this year's 12.2 million college graduates and a large number of migrant workers required a stable job market. However, increasing external uncertainties and an unstable economic rebound could bring challenges, said Wang. (Source: Yicai.com)
  • China’s slowdown in export growth to 2.3% y/y during January and February could indicate the surge of previous months has declined, according to Yang Chang, chief analyst at Zhongtai Securities Research Institute. Zeng Gang, dean of the Institute of Urban Development at East China Normal University, said policymakers should focus on transitioning to high-quality trade given China's comparative advantage in low-cost manufacturing will be difficult to maintain, regardless of tariffs. Wang Qing, chief macro analyst at Orient Securities, highlighted the trade war will be offset by emerging external drivers, such as cross-border e-commerce and services exports. (Source: Yicai)
  • China’s consumer price index is expected to reach 0.3% y/y in March, up from February’s 0.7% fall, according to Feng Lin, director of research at Orient Jincheng, citing recent trends in high-frequency data and the current consumer market supply and demand balance. Looking ahead, Mingming, chief economist at CITIC Securities, said PPI y/y declines may narrow from February's 2.2% fall, as demand increases and ferrous industry prices gain momentum, however geopolitics brings uncertainty. (Source: Securities Daily)