[America's "New York Times" website reported on August 9] Title: Government data shows that China's economic growth is weak China is the engine of world economic growth, but the hope that China's economy is about to turn around has become more and more, because the one announced on the 9th Group disappointing economic data showed that industrial production and retail sales growth in July was much lower than market expectations. Affected by the weak overseas demand and the legacy of Beijing’s efforts to curb inflation last year, the Chinese economy’s rampant situation has continued for many months. The authorities have completely changed many of these measures this year, and market participants therefore believe that the Chinese economy may have passed the most difficult period in a few months. However, due to the very weak data in July, market participants expect Beijing to step up stimulus measures to boost the economic recovery. But the Chinese economy also has a positive side. Inflation has fallen from the high level of last summer. Data released on the 9th showed that the consumer price index (CPI) rose by 1.8% in July, much lower than the 2.2% in June. This gives the authorities room to take action and also creates expectations that Beijing will soon announce other measures to stimulate growth. These measures are likely to include further release of bank loans, increased investment and another rate cut. (Reporter Bettina Wassena) ["Nihon Keizai Shimbun" reported on August 10] Title: China's economic endurance summer The slowdown of China's economy is still unstoppable. According to the economic data released by the National Bureau of Statistics of China on the 9th, the added value of industrial enterprises above designated size increased by 9.2% year-on-year. It hit a new low in three years and two months. Although the People's Bank of China has continued to introduce financial mitigation measures, it seems that the effect is not obvious. In this summer, the Chinese economy needs patience. “Iron ore and coal are floating on the sea like that,†the Chinese steel industry is so complaining about the current state of raw material inventory. On the one hand, the sluggish demand for steel has led to a slowdown in production, and on the other hand, the raw materials that have been contracted for purchase are still being shipped from Australia and Brazil. Boats that cannot enter the port to unload cargo can only be berthed at sea. Not only the steel industry, but also the sluggish demand at home and abroad makes it difficult for China's industrial production to get rid of the downturn. As of July, industrial added value has been weak for two consecutive months. Consumption also showed signs of stagnation. Although the sales of new cars in July achieved an increase of 8.2% year-on-year, they still fell by 1.7 percentage points from June. (Reporter Da Yue, Yang Yang) [AP, London, August 9] Although many people hope that China will adopt more monetary policies to stimulate the economic growth of the world's second largest economy, the global stock market is in this financial crisis on Thursday. The fifth anniversary of the early signs is still not performing well. China’s inflation rate fell from 2.2% in the previous month in July. In view of this, many people expect that Beijing may loosen monetary policy to stimulate economic growth - China's economic growth has slowed sharply this year. Data from industrial production and retail also confirm the fact that China's economic growth is decelerating. Mike McCarter, head of the derivatives division of London Interactive Investment, said: "Many traders are waiting for China to release economic data. These economic data may point to a slowdown in China's economic growth, but it seems that no one is surprised." The British "Daily Telegraph" reported on August 9th] China: China faces a hard landing The Chinese economy is facing the threat of industrial recession. In July, the ex-factory price of industrial producers nationwide fell by 2.9% year-on-year. Some people therefore called for further stimulus measures to prevent Japanese-style deflation. Alistair Thornton and Ren Xianfang of American Global Television Co., Ltd. said: "The short-term threat to the Chinese economy is deflation, not inflation." Global View said: "At the moment, it should be the stimulus measures. Time, but not.†The critics said that Beijing had oversold the real estate boom and later used it too hard on the brakes. The monetary tightening policy has led to a contraction in the actual narrow money supply. The hysteresis effect began to appear this year, while Europe fell into recession and the US economy is slowing. The authorities have re-taken stimulus measures. The reserve requirement ratio of commercial banks has been lowered, and some regions have been allowed to implement the lightning stimulus plan again, and credit is provided by state-owned banks. Yao Yi, an economist at Société Générale, said: "The time required to stop the recovery process is longer than we expected. The easing policies announced so far have not been fully transmitted to the real economy." (Reporter Ambrose Eyre Vince Pritchard)
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