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Media Report
May 31 , 2017
  • The Wall Street Journal：China Gauge of Factory Activity Holds Steady in May
    The Wall Street Journal reports: "A gauge of manufacturing activity in China held steady in May as the property market remained buoyant, signaling stronger-than-expected economic momentum in the second quarter. China's official manufacturing purchasing managers index was 51.2 in May, unchanged from April, according to the China Federation of Logistics and Purchasing, which releases the data with the National Bureau of Statistics. The May reading released Wednesday beat a median of 51.0 forecast by economists polled by The Wall Street Journal...Economists said the May manufacturing PMI points to an economy slowing less rapidly than expected. 'The first quarter was the peak, and April declined only slightly,' said Mizuho Securities Asia Ltd. economist Jianguang Shen, who expects China's growth to weaken significantly in the second half of the year. 'The government is trying to tighten the housing bubble, but it's been careful not to overtighten.' Beijing's strategy in recent months of imposing strict administrative restrictions on property sales in China's largest cities while trying to encourage sales in smaller, overbuilt cities is paying early dividends, economists said, allowing the economy to weaken at a gradual pace. May's stronger-than-expected PMI data also suggests that recent regulatory tightening hasn't yet affected the real economy, said Zhang Yiping, an analyst with China Merchants Securities Co. He predicts second-quarter growth will slow to around 6.7%, from 6.9% in the first quarter. 'But it won't be as bad as many expected,' he said."
  • The New York Times：China Detains Activist Who Worked at Manufacturer of Ivanka Trump Shoes
    The New York Times reports: "A labor activist who had been working undercover at a Chinese factory that makes shoes for Ivanka Trump and other brands has been detained by the police, as concerns rise over a crackdown on the country's advocacy groups. The activist, Hua Haifeng, who was working on behalf of the advocacy group China Labor Watch, was detained on suspicion of illegal eavesdropping, his wife, Deng Guimian, said late Tuesday. Mr. Hua and two other labor activists had been undercover at two Chinese factories that make shoes for Ms. Trump and other brands. They all disappeared on Saturday, according to their employer, China Labor Watch. They were last seen in Ganzhou, a large city in southern Jiangxi Province. It is unclear whether the other two were detained. The group had been investigating labor conditions at the two factories, one in Ganzhou and another in Dongguan. Their preliminary findings, which had not yet been made public, detail that workers were subject to exceptionally long hours."
  • Politico：EU and China commit to deeper climate cooperation as US turns away
    Politico comments: "The EU and China are set to pledge deeper cooperation on the Paris climate agreement and to promote clean energy technologies, according to a draft leaders' statement for their summit on Thursday and Friday seen by POLITICO. 'The EU and China consider climate action and the clean energy transition an imperative,' according to the statement. 'Stepping up action will provide both sides with significant opportunities.' Their commitments to step up efforts to cut emissions and implement the deal come as President Donald Trump is planning to pull the U.S. out of the Paris climate deal, according to a White House official. Trump later tweeted that he'll make an announcement in the coming days. In the wake of a broader U.S. retreat from its traditional international role, the two will also stress the importance of 'developing global free trade and investment' and multilateralism, according to the draft. The leaders' separate and explicit statement on climate change and clean energy is meant to show that the EU and China are stepping up as the U.S. makes a U-turn on its own climate policy. 'The fact that they're taking the time and effort to come up with a declaration of cooperation is the most important part,' said Wendel Trio of the Climate Action Network Europe."
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