National Bureau of Statistics of China stated (21-Oct-2010) GDP in the first three quarters of 2010 reached CNY6,866 billion (USD1,032 billion), a year-on-year increase of 10.6%, or 2.5 ppts higher than the same period last year. In terms of growth by quarter, GDP rose 11.9% in 1Q2010, 10.3% in 2Q2010 and 9.6% in 3Q2010. The Bureau added that the "good developing momentum of economy was further consolidated" in the period and the national economy "kept moving towards the expected direction of macro economic control". In 3Q2010, inflation accelerated to the fastest pace in almost two years while consumer prices increased 3.6% in Sep-2010. [more]
Chinese GDP in first three quarters of 2010 increases 11%
You may also be interested in the following articles...
China Southern to add 20 787-9s in first phase of refleeting as it prepares long-term hub strategy
To Shenzhen, or not to Shenzhen? That is a question facing China Southern Airlines as it prepares its long term hub strategy: whether the Guangzhou-based airline should continue growing in the nearby city of Shenzhen, or should concentrate its southern hub exclusively in Guangzhou.
In the upcoming peak season Guangzhou will account for 85% of China Southern's long haul departures. That includes, for the first time, 20 intercontinental Guangzhou departures in a single day. Shenzhen is part of China Southern's catchment area, but Shenzhen Airlines and its majority owner Air China plan to expand in Shenzhen, and competition continues in nearby Hong Kong.
As China Southern weighs its Shenzhen presence, and awaits regulatory clarity on where it can grow at the new Beijing Daxing airport from 2019, the airline intends to take 20 787-9s in the compact period of 2018-2020. China Southern operates 10 -8s, while its sister company Xiamen Airlines is due to receive its first -9 in Dec-2016. China Southern's 787-9 order puts long haul aircraft back on order at Asia's largest airline. A later aircraft order will provide China Southern with post-2020 growth capacity.
Philippines-China air service growth to lift Philippines' Chinese tourism as Duterte changes horses
First bananas, then people. China's lifting of a trade ban against bananas from the Philippines bodes well for aviation. Relations between China and the Philippines turned negative in 2012. The issue was primarily over China's claims to uninhabited islands – a debate that also caused China-Japan relations to turn sour. China banned Filipino banana imports and issued a travel warning against the Philippines. Travel warnings from China carry more weight than in other markets since state-owned/linked travel agencies essentially stop selling the impacted market. Diplomatic rows have resulted in drastic reductions in outbound passenger flows from China.
Japan has more than recovered but the Philippines' underexposure to China is well evident: the Philippines has received the least number of Chinese tourists in Asia. Laos and Cambodia, far smaller than the Philippines, each received more Chinese tourists than the Philippines.
New Filipino President Rodrigo Duterte is pivoting Manila's allegiance away from the US – to China. His presidency is young and the calculation has its sceptics, but China appears to be warming. Following the lifting of its ban on banana trade, China is expected to use President Duterte's visit to Beijing to lift its travel warning against the Philippines. This will likely stimulate large air service growth between China and the Philippines. Yet for existing markets, there is some concern that the Philippines presents new competition.