China manufacturing activity contracts, hits 3-year low

BEIJING -- China's manufacturing activity kept contracting in January, pointing to persistent weakness in the sector, data showed on Monday. The purchasing managers' index (PMI) came in at 49.4, down from December's 49.7, according to data released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The index also marked the lowest level since August 2012, as China's economy is at pains to seek new growth engines as the housing market slowed and industrial overcapacity overhung.

NBS statistician Zhao Qinghe attributed the retreat to slowing factory activity ahead of the Spring Festival, which falls in early February this year, as well as China's ongoing campaign to resolve excessive capacity.

The economic slowdown both at home and abroad also affected aggregate demand and foreign trade growth, Zhao explained.

In breakdown, the sub-index measuring production stood at 51.4, down 0.8 percentage point from a month earlier, and that for new orders settled at 49.5, down 0.7 point.

Source: Chinanews

Top 10 industries with the highest salary in China

Professional services and counseling were ranked among the highest-paid industries, according to a report released by Zhaopin.com, a leading job website and human resource service agency in China.

The report also ranked cities in Chinese mainland based on monthly salary of white-collar workers and Beijing occupied the top rung with an average monthly salary of 9,227 yuan, followed by Shanghai and Shenzhen.

Here are the top 10 industries with the highest salary.

1 Professional service/counseling/Law/Human resource
2 Securities/stocks/futures/investment
3 Intermediary services
4 Online gaming
5 Trust/auctions
6 E-commerce
7 Energy/mining
8 Computer software
9 Real estate
10 Banking

Source: Zhaopin

Good news for businessmen from Middle East: First container train from Yiwu to Tehran launched

The first regular container train linking China to the Middle East is unveiled in Yiwu, East China's Zhejiang province, Jan 28, 2016. The train will exit China through Alataw Pass in Northwest China's Xinjiang and pass through Kazakhstan and Turkmenistan before reaching its destination Tehran, capital of Iran, completing a 14-day and 10,399-kilometer journey.

Catering to the Belt and Road Initiative, the train is expected to further promote China's cooperation with Middle Eastern countries.

Yiwu is a famous production base for small commodities and it has been keeping close foreign trade ties with countries in the Middle East.

There are currently about 4,000 Middle Eastern businessmen living in Yiwu and more than 180 companies set up by Middle Eastern investors. The city witnessed 58.3 billion yuan ($8.8 billion) of exports to the Middle East in 2015.

This regular freight train will greatly benefit the businessman from Iran, Kazakhstan,Turkmenistan and even Pakistan etc.

Source: Chinadaily