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ECONOMY
Weekly Watch> ECONOMY
UPDATED: June 8, 2013 NO. 24, JUNE 13, 2013
Economy
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BUMPER HARVEST: A reaper harvests wheat in Huaxian, northwest China's Shaanxi Province (DU HONGGANG)

Dry-Clean Probes

The government initiated anti-dumping probes into perchlorethylene imported from the European Union and the United States on May 31, the Ministry of Commerce said.

The probes were launched in response to applications from domestic companies, the ministry said in a statement posted on its website.

The ministry will examine whether and to what extent such imports have hurt the Chinese industry. The probes are expected to end within a year and can be extended for another six months under special circumstances.

Perchlorethylene is a chlorinated solvent used extensively in dry cleaning. Other applications include vapor degreasing and use as a chemical intermediate and processing solvent.

Obvious Recovery

China's Purchasing Managers' Index (PMI) for the manufacturing sector rose to 50.8 percent in May from 50.6 percent in April, data from the China Federation of Logistics and Purchasing (CFLP) showed.

May marked the eighth consecutive month that the PMI figure stayed above 50 percent, the line demarcating expansion from contraction.

A modest rise in the May PMI and steady sub-indices suggest that the recovery trend in China's economy has become more obvious, said Zhang Liqun, an analyst from the Development Research Center of the State Council.

According to the CFLP, the sub-index for production moved up from 52.6 percent in April to 53.3 percent in May. The sub-index was a major driver of the May PMI and represents expanding output.

Orders received by manufacturers picked up in May, as the sub-index for new orders edged up 0.1 percentage point from the previous month to 51.8 percent.

The PMI for the non-manufacturing sector stood at 54.3 percent in May, down from 54.5 percent for April, CFLP said.

"The non-manufacturing PMI stood above 54 percent in May, indicating the sector is still growing at a relatively fast pace," said Cai Jin, Vice Chairman of CFLP.

Boeing Delivers 787

A Boeing 787 Dreamliner, the first of its kind to be delivered to China, landed at Baiyun International Airport in Guangzhou on June 2.

The 228-seat aircraft, operated by China Southern Airlines, will help improve the loading capacity on the company's international routes as well as the service quality, said Tan Wangeng, President of China Southern Airlines.

After 25 hours of certification flights to check the craft's airworthiness, it flew between Guangzhou and Beijing on June 6. In the future, it is expected to serve international routes from Guangzhou to Paris, Vancouver, London or Auckland.

With advanced engines and light composite materials, the aircraft is expected to consume 20 percent less fuel and release 20 percent less emissions than conventional models, said Tan.

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