HOME>NEWS CENTER>The 4th Board of Directors of IFF (2018-2023)
IFF Newsletter Issue 107
TIME：2024-01-18
From the Editor
China’s economy grew 5.2% in 2023, surpassing the country’s official target of around 5%. Urban unemployment reached 5.1% in December and the country resumed reporting youth unemployment. The jobless rate for young people between 16 to 24 excluding students was 14.9%. China’s Premier Li Qiang said the country is committed to opening up and called for global cooperation at the opening ceremony of the World Economic Forum in Davos. China’s Premier Li Qiang said the country is committed to opening up and called for global cooperation at the opening ceremony of the World Economic Forum in Davos.
US retail sales rose 0.6% in December, up from November’s increase of 0.3%, data from the Commerce Department showed on Wednesday. The European Central Bank (ECB) is on track to bring inflation back to its target rate of 2% but the job is not done yet, said President of the ECB Christine Lagarde. The United Nations' (UN) Secretary-General Antonio Guterres called on global leaders to take action to tackle climate crisis and the unchecked development of artificial intelligence (AI).
China’s economy expands 5.2% in 2023
China’s economy grew 5.2% in 2023, surpassing the country’s official target of around 5%.
The country’s economy expanded 5.2% in the fourth quarter compared to the same quarter from the previous year, data from the National Bureau of Statistics (NBS) showed on Wednesday.
Gross domestic product rose 1% in the fourth quarter compared to the third quarter.
Urban unemployment reached 5.1% in December and the country resumed reporting youth unemployment.
The jobless rate for young people between 16 to 24 excluding students was 14.9%.
China's Premier says China is committed to opening up, calls for global cooperation at Davos
China’s logistics activities expand in December, data from the China Federation of Logistics and Purchasing (CLFP) showed on Sunday.
The index tracking logistics activities came in at 53.5 in December, up 0.2% from November. The 50-mark separates growth from contraction.
The index for new logistics stood at 52.8.
China’s Premier Li Qiang said the country is committed to opening up and called for global cooperation at the opening ceremony of the World Economic Forum in Davos.
Li said that China will create favorable conditions for the world to share in China’s opportunities.
“Choosing the Chinese market is not a risk, but an opportunity. We embrace investments from businesses of all countries with open arms, and will work tirelessly to foster a market-oriented, law]-based and world-class business environment,” said Li.
Li also called on countries to step up dialogue and communication in the face of global crises.
China’s population fell for a second consecutive year in 2023, data from the National Bureau of Statistics showed on Wednesday.
The country’s population decreased by 2.08 million in 2023, more than the drop of 850,000 in 2022.
The country’s birth rate hit record low of 6.39 births per 1,000 people.
In 2023, the country saw 9.02 million births while 11.1 million people died, a 6.6% increase from those in 2022.
Home prices in China continued to dip in December, data from the National Bureau of Statistics showed on Wednesday.
Home prices in China’s four biggest metropolis fell 0.4% in December compared to the previous month while prices in the second- and third-tier cities fell 0.4% and 0.5% respectively.
In 2023, home sales by floor area fell 8.5% compared to the previous year.
Meanwhile investment in the property sector fell 9.3% in 2023.
China’s fixed asset investment rose 3% in 2023, down from a growth of 5.1% in 2022, official data showed in Wednesday.
Investment by the state rose 6.4% while that by the private sector fell 0.4%.
Investment in the industrial sector rose 9% with investment in the energy and water production and supplies growing 23%.
Industrial output in China rose 6.8% in December from the previous year, data from the National Bureau of Statistics showed.
Industrial output in 2023 rose 4.6%.
In December, output by state-owned enterprises rose 7.3% while that by private companies rose 5.4%.
Retails in China expanded 7.4% in December, down from November’s rise of 10.1%, official data showed.
Retail sales rose 7.2% in 2023 from the previous year.
Catering service increased 30% while sales of merchandise rose 4.8%, down from November’s 8% increase.
Newsletter
International News
US retail sales rose 0.6% in December, up from November’s increase of 0.3%, data from the Commerce Department showed on Wednesday.
Sales increased 5.6% year on year in December.
Sales for general merchandise rose 1.3% last month while online sales increased 1.5%.
The European Central Bank (ECB) is on track to bring inflation back to its target rate of 2% but the job is not done yet, said President of the ECB Christine Lagarde in an interview with Bloomberg TV.
Lagarde said the ECB would have a better idea of where inflation is heading in the late spring when it gets the data from this year’s collective wage agreements.
She cautioned against hasty rate cuts and said the risk of cutting rates too quickly was greater.
The United Nations' Secretary-General Antonio Guterres called on global leaders to take action to tackle climate crisis and the unchecked development of artificial intelligence (AI).
Speaking at the World Economic Forum, Guterres said that "the phase-out of fossil fuels is essential and inevitable" and "we must act now to ensure a just and equitable transition to renewable energy."
Guterres said many countries remained “hellbent” on raising emissions of greenhouse gases.
The UN chief also urged action against the “serious unintended consequences” posed by AI.
India’s retail inflation rose to 5.69% in December, official data showed on Friday.
Core inflation rose 3.89% in December, the lowest in 48 months.
The country’s inflation level continues to remain within the Reserve Bank of India’s tolerance range of 2-6%.
