China targets steady economic growth for 2018
China will reportedly prioritize investing in social fields namely education, healthcare and public services to boost the quality of economic growth. The country will also promote investment in innovation and entrepreneurship in emerging industries.
In line with the endeavor to rein in financial risks, the country previously announced a new set of rules on three Chinese policy banks to prevent them from over-lending.
In addition, the country is planning to invest CNY800 billion (about $122 billion) in road construction and renovation starting from next year.
On the other hand, the World Bank expects the country’s economic growth to lose steam due to the government’s tighter domestic policy. In line with the country’s new economic management policies laid out during the Central Economic Work Conference, the World Bank revised China’s economic growth forecast down to 6.5% for 2018, down from the estimate of 6.8% for 2017.
Meanwhile, the Chinese economy expanded by 6.8% in the third quarter of 2017. However, the country’s official manufacturing Purchasing Managers’ Index (PMI) slowed slightly to the reading of 50.8 in November from 51 in October.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Demand pressure casts cloud on PVC hikes in Türkiye
- Non-European PPBC offers at aggressive levels add to bearishness in Italy
- Correction: China, SEA PE markets continue downtrend as Nov ends, what lies ahead in Dec?
- Europe’s dumping case on US and Egyptian PVC: A look at early reactions and possible impacts on trade flows
- Aggressive US PE prices find way to Türkiye, Africa amid year-end stock clearing
- PLAST EURASIA 2023: Players discuss PP, PE outlook amid financial challenges
- Stats: India’s Jan-Sep PVC imports surge, China takes the lion’s share despite safeguard investigation
- Sentiment weakens across African PP, PE markets in November
- HDPE film drops faster than other two main PE film grades in China
- PE prices see larger drops than C2 in Italy, unlike West Europe