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Chinese GDP grows 3.2% in second quarter

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Chinese GDP grows 3.2% in second quarter

China’s economy returned to development in the second quarter, in a single of the world’s earliest indicators of restoration from the fallout of the coronavirus pandemic.

Gross domestic merchandise grew 3.2 for each cent in the 3 months to the close of June, as opposed with the same period of time past calendar year, exceeding forecasts.

The figures stick to the to start with yearly decline in a long time in the prior quarter, when China’s GDP fell by 6.8 for every cent as the region struggled to offer with the effect of the Covid-19 disaster.

The return to expansion coincided with a interval when new noted situations of the virus experienced fallen sharply and greater state assistance for the industrial sector, even as consumption remained weak.

Liu Aihua, spokeswoman for the country’s Countrywide Figures Bureau, said the figures “demonstrated a momentum of restorative expansion and gradual recovery”. But she also pointed to “mounting external pitfalls and challenges” as the virus continued to distribute globally.

“We are confident on the economic restoration in the 2nd half of this calendar year,” she extra.

Information from China, wherever coronavirus was first found, is becoming closely viewed as economies about the earth grapple with the results of the crisis.

Even with local outbreaks of the virus, like very last thirty day period in Beijing, new day by day scenarios have usually remained in the tens per day in the 2nd quarter as the pandemic has gathered speed in the US, Europe and Latin The united states.

In April, China eased lockdown measures in Wuhan, the first centre of the virus, but has continued to implement demanding rules on testing and shut off the country to most global flights.

China industrial production by month

Growing GDP in the next quarter was assisted by potent industrial production, which improved 4.4 for each cent compared with the same period a yr previously and rose in just about every of the earlier 3 months.

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The Chinese state has supported industrial action in excess of recent months, in component by increasing the sum nearby governments can borrow for infrastructure projects. A rise in construction has assisted increase the country’s steel output when generation has shrunk in other massive countrywide producers.

“In China the tale is pretty reliant on what is occurring domestically,” mentioned Louis Kuijs, head of Asia economics at Oxford Economics. “The momentum should be robust plenty of to make it really unlikely [we] see a further fall in GDP,” he extra.

Retail income fell by 3.9 per cent in the 2nd quarter, signalling an uneven recovery and ongoing pressure on use. The unemployment level in June was 5.7 for each cent, a slight advancement on May’s determine of 5.9 for each cent.

Marcella Chow, worldwide industry strategist at JPMorgan Asset Administration, pointed to the high personal savings charges of domestic customers more than the study course of the pandemic, but extra that consumption could recover rapidly if self confidence returned.

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Stick to FT’s dwell protection and evaluation of the world wide pandemic and the fast evolving economic crisis right here.

China reported positive trade knowledge this 7 days, which showed exports unexpectedly increasing by .5 for every cent in June as opposed with final 12 months. But Ms Chow said that exterior demand from customers for Chinese exports could remain weak as a end result of lockdown measures in Europe and the US.

Stocks in Asia-Pacific marketplaces retreated following the info ended up released.

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The CSI 300 index of Shanghai- and Shenzhen-detailed shares was down 1.6 for every cent and Hong Kong’s Cling Seng index fell by 1.2 per cent. In Japan, the Topix dipped .6 for every cent and Australia’s S&P/ASX 200 was down .9, even though the Kospi in South Korea lose .6 for every cent.

“Markets Do not like the unenthusiastic Chinese spenders,” Trinh Nguyen, senior economist for emerging Asia at Natixis, wrote on Twitter.

Additional reporting by Alice Woodhouse in Hong Kong

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Portuguese fund CA Património Crescente wins European award for highest return – Imobiliário

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Portuguese fund CA Património Crescente wins European award for highest return - Imobiliário

Open-ended real estate investment fund CA Património Crescente has once again received the MSCI European Property Investment Awards in the Diversified Portfolio category for 2021.

This is the 12th time that the Portuguese fund, established in 2005, has received this award, which distinguishes the national real estate portfolio with the best return. In 2021, CA Património Crescente’s real estate portfolio returned 7.8%, compared to 6.3% in the benchmark.

The largest share of real estate income was received through shopping centers and offices: 8.7% and 8.6% respectively, according to the Portuguese fund Negócios, which at the end of August had a portfolio of 141 assets worth 1,031 million euros.

CA Património Crescente is one of the six funds managed by Square Asset Management, with Grupo Crédito Agrícola being the custodian bank and responsible for its marketing and investments mainly in real estate destined for trade, offices, services, industry, logistics or hotels.

The CA Património Crescente fund returned an annualized return of 5.1% in April, which declined slightly to 4.23% after two years, rising to 4.72% after three years and 4.74% after five years. . The average ten-year yield was 3.95%.

Square AM was also once again awarded by Euromoney, which recognizes major leaders in real estate financial products and services, as the “Best Investment Manager” of 2022.

Square AM has been on the market for 17 years and is one of the largest real estate fund managers in Portugal with €1.3 billion in assets and over 25,000 investors.

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Benfica announces a partnership with Portuguese driver Miguel Santiago.

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Benfica announces a partnership with Portuguese driver Miguel Santiago.



Young competes at the National Speed ​​Championship and the FIM GP Junior World Championship.

Benfica have announced a partnership with driver Miguel Santiago, a Portuguese driver who works in the National Speed ​​Championship and the FIM Junior World Championship. Santi, who started taking his first steps in motorsport in 2016, was pleased with someone during the presentation. “The dream has come true! When I was little, before riding motorcycles, I played football, went to Benfica’s school in Mafra, I always dreamed of becoming a Benfica athlete. I never thought! A few years ago, if you had asked me, I would have said no, I believed that one day I would be here, it is a great pride. I have no words. I just hope to reach the goals, glorify the club. I have the race, the desire and the ambition.” , repeated the 18-year-old BTV pilot.

Miguel Santiago is thinking about becoming the queen of motorcycle racing.

“In recent years, the FIM Junior GP has attracted many riders to the Moto GP where 20 out of 24 riders [que participam] come from this contest. Participation in Moto GP is considered the greatest school of prodigies, I am proud to be there and so close to the level of Moto GP,” he said.

Flavio Miguel Silva


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“Unthinkable”. Every Portuguese wastes 183 kg of food a year.

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"Unthinkable".  Every Portuguese wastes 183 kg of food a year.

QuestionAs World Food Loss and Waste Awareness Day is celebrated, speaking at a conference on the subject in Lisbon, the official recalled the statistics released today by the National Statistical Institute and said the situation is “worse than expected.”

The data, official and published for the first time, refers to 2020 and shows that 1.89 million tons of food was wasted in Portugal this year, so each Portuguese wasted an average of 183.6 kilograms of food.

INE statistics show that families spend the most. The figures show that more than 1.2 million tons of food was thrown away by families this year, followed by catering (over 237 thousand tons), trade and distribution (214 thousand tons), primary production (over 101 thousand tons) and food nutrition. industry, about 61 thousand tons.

“We buy too much, we buy bad, let it spoil. It is unacceptable that a third of what is produced ends up in the trash, ”said an official who spoke at a debate organized by the United Movement Against Waste.

Ana Cristina Carrola of the Portuguese Environmental Protection Agency (APA), who also took part in the debate, stressed that the average amount of waste per year per inhabitant in the European Union is 173 kg, less than the 183 kg that is thrown away by the Portuguese.

“This is unthinkable these days,” he complained.

Jorge Moreira da Silva, President of the Platform for Sustainable Growth, former Minister of the Environment, another participant in the debate, recalled a recent report stating that the impact of food waste could be as high as 10% of global greenhouse gas emissions, and that the impact on the economy is a billion dollars.

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“Food waste alone is a quarter of what is needed to achieve the sustainable development goals,” he said, adding that while food is thrown out the window, 823 million people go to bed without “decent food.”

Jorge Moreira da Silva said that there are targets in the European Union to reduce food waste that are not being met and that mandatory targets will be announced soon.

The debate participants agreed that it is necessary to inform and attract the attention of families who often spend money without knowing it. “Most people have no idea about the impact of food waste. Nobody will change if they don’t understand the problem,” said Jorge Moreira da Silva.

The debate also spoke about the importance of water, which is present in the production and preparation of food. Ana Margarida Luis from Aguas de Portugal picked up an orange to say that throwing away an orange is equivalent to throwing out 80 liters of water.

Other figures released as part of the initiative are part of an awareness campaign that warn that food waste generates three times more greenhouse gas emissions than oil production, generates the equivalent of 25% of vehicle pollution, and pollutes four times as much as anything else. commercial aviation flights.

[Notícia atualizada às 21h09]

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