The purchasing manager index of the manufacturing industry (PMI) was 54.1% in China in November 2005.

As shown in the purchasing manager index of the manufacturing industry (PMI) in China, released by China Federation of Logistics and Purchase, the PMI was 54.1% in November of 2005 was at the same level as in October. The main indicators continued to be in a smooth and steady state, showing that the economic growth of the manufacturing industry was improving in a steady way. Of the total, the index of production was 58.8%, the index of new orders was 58%, the index of export orders was 57.6%, the index of overstocking of orders was 48.1%, the index of inventories of finished products was 44.8%, the index of purchases was 55.6%, the index of import was 51.7%, the index of purchasing prices was 47.9%, the index of inventories of raw materials was 46.4%, the index of employed persons was 50.9% and the index of distribution time of the supplying merchants was 52.4%.

The import of crude oil is expected to be 130 million tons in 2005.

As mentioned by Wei Jianguo, Vice-minister of Commerce, at China Petroleum Forum 2005 on November 10th, 136 million tons of crude oil was produced in the first three quarters in China, a year-on-year increase of 4.2% while more than 90 million tons of crude oil were imported in the same period. The total import of crude oil in the whole year of 2005 is expected to be 130 million tons.

The demand for aluminum oxide is expected to be 18.15 million tons in 2006.

According to the forecast of the Ministry of Commerce, the tense contradictions between the supply of and the demand for aluminum oxide in the world will be alleviated in 2006. In the year of 2005, the output of aluminum oxide was 61.31 million tons, the demand for it was 62.30 million tons and the shortage was 990 thousand tons in the world. This was one of the important reasons for the rise of the prices of aluminum oxide by a big margin at the international market in 2005. In the year of 2006, the output aluminum oxide is expected to be 66.07 million tons, the demand for it is expected to be 65.67 million tons and the supply is expected to exceed the demand by 400 thousand tons in the world. The change of the relations between the supply and demand will cause the decline of the prices of aluminum oxide at the international market in 2006. In China, the government will continue to strengthen the macro-economic regulation, the growth of the demand for aluminum oxide will slow down and the demand for it is expected to be 18.15 million tons. The output of aluminum oxide will increase rapidly in China, its growth rate will exceed the growth rate of the output of electrolytic aluminum and the output of aluminum oxide is expected to be 11.30 million tons in China in 2006.

The accumulative total imports and exports of high-tech products amounted to 328.8 billion US dollars in the period from January to October of this year.

As shown in the statistical data of the General Administration of Customs, China’s total imports and exports of high-tech products amounted to 328.8 billion US dollars in the period from January to October of 2005, an increase of 26.8% as compared with the same period of the previous year. Of the total, the import amounted to 157.52 billion US dollars, an increase of 20.3% while the export amounted to 171.28 billion US dollars, an increase of 33.5%.

The export of motor vehicles exceeded their import by 7000 units for the first time in China.

As shown in the statistical data of the General Administration of Customs, in the period from January to October of 2005, China’s export of motor vehicles totalled 135 thousand units, a year-on-year increase of 133.6% while the import of them totalled 128 thousand units, a year-on-year decrease of 11.6%. The export of motor vehicles exceeded the import by 7000 units.

The total value of foreign trade of the export-processing areas amounted to 105.7 billion US dollars.

As shown in the statistical data of the General Administration of Customs, up to the end of October of 2005, the total value of foreign trade of the export processing zones in China amounted to 105.7 billion US dollars. Of the total, the import amounted to 45.1 billion US dollars while the export amounted to 60.6 billion US dollars. The export is expected to be greater than 50.0 billion US dollars in this year.

The total export of textiles is expected to be 116 billion US dollars in 2005.

Since the beginning of 2005, China’s export of textiles was under the influence of detrimental factors such as trade friction, but the momentum of steady growth in the export of the whole textile trade was still maintained by means of industrial progress and sharpening the competitive edge of deeply processing enterprises. According to the forecast of China Association of Textile Industry, the sales income of the textile enterprises above a certain scale in China is expected to be about 2 trillion yuan and the export of the whole trade is expected to be about 116 billion US dollars in 2005.

The number of tourists going abroad totalled 25.76 million person-times in the period from January to October.

As shown in the statistical data of the National Tourism Administration, the number of tourists going abroad totalled 25.76 million person-times in the period from January to October in 2005, a year-on-year increase of 8.03%. Of the total, the proportion of the number of tourists going abroad on business had declined year after year while the number of tourists going abroad at their own expense rose by a big margin. In the period from January to October, the number of tourists entering the mainland of China had exceeded 100 million person-times, a year-on-year increase of 11.57%, and the foreign exchange earnings from tourism had amounted to 24.78 billion US dollars in the whole country, a year-on-year increase of 17.06%. In October, the number of tourists entering the mainland of China totalled 10.55 million person-times, a year-on-year increase of 6.74%, and the foreign exchange earnings from tourism amounted to 2.791 billion US dollars in the whole country, a year-on-year increase of 9.10%.

National Bureau of Statistics published the main data of the first national economic census.

The Office of the Leading Group of the First National Economic Census under the State Council and the National Bureau of Statistics published the Communique on the Main Data of the First National Economic Census (No.1), releasing the data on the basic situations on the corporate bodies, industrial active units and self-employed persons. The No. 2 and No. 3 of the Communique will be published successively in the near future.

China’s direct investment overseas amounted to 4.1 billion US dollars in the first half of this year.

The State Administration of Foreign Exchange published the Report on the International Balance of Payments in China in the first half of 2005 on November 28th and the similar report will be published semiannually from now on. As shown in the Report, the main characteristics in international balance of payments in China in the first half of 2005 were as follows: The favourable current account balance had enlarged, the favourable capital and financial account balance had declined, the reserve assets had increased by a quite big margin and the errors and omissions appeared in the debit side. The Report had also shown that the outflow of China’s direct overseas investment in the first half of 2005 amounted to 4.1 billion US dollars, a year-on-year increase of 248%, the inward remittance of capital to China due to the cancellation of investment and clearing accounts amounted to 207 million US dollars, a year-on-year increase of 26% and the net outflow of capital amounted to 3.9 billion US dollars, a year-on-year increase of 284%.

(Translation and copyright Wu Hui)