「News of the Week」China Q3 GDP Growth Rate: 6.0%

WSJ – China’s economy grew 6% in the third quarter, landing right on the central government’s full-year baseline target for gross domestic product

国家统计局 National Bureau of Statistics of China  – 2019年三季度国内生产总值(GDP)初步核算结果

The percentage growth decrease is high anticipated. The expected value was at 6.1%.

Dots to connect:

  • IMF’s other forecasts
    • cut China’s growth forecast to 6.1% from 6.2% for 2019, and 5.8% for 2020
    • cut India’s growth forecast to 6.1% from 7% for 2019, and 7% in 2020
    • Forecasts for the U.S. were cut by 0.2 percentage point to 2.4% annual growth in 2019; euro-area forecasts were cut 0.1 point to 1.2%
    • Global
      • July version: Global growth remains subdued. Global growth is forecast at 3.2 percent in 2019, picking up to 3.5 percent in 2020
      • October version: Global growth is expected to slow to 3 percent this year, picking up to 3.4 percent in 2020 (a 0.2 percentage point downward revision compared with April)
  • China’s monetary policies and debt levels.

「What’s News In China」

Paypal (NASDAQ: PYPL) is becoming the first foreign payment platform to provide online payment services in China. The license is obtained by acquiring 70% of GoPay (国付宝). The transaction is approved by the People’s Bank of China (PBOC) on September 30. // CrunchbaseGoPay PR


Baidu (NASDAQ: BIDU) launched self-driving service Apollo Robotaxi for the general public in Changsha China on September 27. The initial fleet has 45 autonomous cars. // cnet | SCMP

Source: SCMP

Shake Shack (NYSE: SHAK) opened its 2nd store at Kerry Center (嘉里中心) in Shanghai on September 26. Its first store in mainland China launched in January 2019 in Shanghai Xintiandi (新天地). // PR Newswire Asia | Jiemian

Source: prnasia

Xiaomi (HKSE: 1810) is entering the smart fridge segment (pricing starts at RMB 999) and completing its major appliance offerings comprised of TV, A/C, washing machines and fridges. Users can modify the temperature and mode of the cabin via voice control. Xiaomi has been trying to diversify from its smart phone business with smart home/IoT products. // gizmochina | 36kr