Industrial profits in China are on the rise, while Xinjiang region anticipates a tourism boom, according to the latest SCMP daily news summary.
China's Industrial Profits Show Steady Growth Amid US Trade War
China's large industrial enterprises registered a modest but speeding growth in April, outpacing the challenges posed by an ongoing trade war with the United States. The escalating economic uncertainty and the hike in tariffs on both sides have not deterred the growth, according to the latest industrial growth data.
The value-added output of these large industrial enterprises experienced a 6.1% year-on-year increase in April, with manufacturing, mining, and utilities contributing significantly to the growth with a 6.6%, 5.7%, and 2.1% rise respectively. Notable gains were recorded in key subsectors such as equipment manufacturing (up 9.8%) and high-tech manufacturing (up 10%).
Emerging technology outputs, including 3D printing equipment, industrial robots, and new energy vehicles, exhibited a substantial growth, with 3D printing equipment up 60.7%, industrial robots up 51.5%, and new energy vehicles up 38.9%. Private enterprises led the growth with a 6.7% rise, outperforming state-owned enterprises at 2.9%.
Despite the overall positive growth indicators, the Purchasing Managers’ Index reflected a slight contraction in manufacturing sentiment. However, business expectations remain cautiously optimistic.
China's Xinjiang Pursues Tourism Boost Amid Sanctions
In an effort to diversify the regional economy, China's ethnically diverse Xinjiang region plans to attract more foreign tourists. Despite ongoing Western sanctions over human-rights concerns, the local government seeks to boost tourism in the region.
The specific details regarding the planned tourism initiatives and the measures to be implemented were not available in the recent search results.
Neuroscientist Dan Yang Returns to China
After a 35-year stint in the United States, neuroscientist Dan Yang has joined the Shenzhen Medical Academy of Research and Translation (SMART) as a senior principal investigator. Yang's research focuses on the neural circuits governing sleep and executive brain functions of the frontal cortex.
The move marks the latest instance of top scientific talent returning to China, as part of national strategies to boost cutting-edge scientific research and technological development within the country. These initiatives, such as Made in China 2025 and the Innovation-Driven Development Strategy, aim to enhance China's global competitiveness in fields like brain science and biomedicine.
- The growth in China's industrial sector, manifested in sectors like manufacturing, mining, and utilities, has been buoyant despite the ongoing US trade war, with key subsectors like equipment manufacturing and high-tech manufacturing demonstrating impressive increases.
- In an attempt to diversify its economy, China's Xinjiang region is pursuing a tourism boost amidst Western sanctions, seeking to attract more foreign tourists and stimulate regional growth.
- The return of renowned neuroscientist Dan Yang to China from the United States, to join the Shenzhen Medical Academy of Research and Translation, underscores ongoing national efforts to attract top scientific talent and further advance China's global competitence in cutting-edge scientific research and technological development.
