US Dollar Exchange Rates of 25th
February 2017
China Yuan 6.8668
Report from China
Flooring manufacturers shift focus to second and third
tire cities
According to statistics from the Flooring Special
Committee within the China National Forestry Products
Industry Association, sales of wooden flooring rose 4% to
396.8 million square metres last year.
Of the total, sales of solid wood flooring grew 10% to 43.9
million square metres, composite wooden flooring
increased 9% to 104.5 million square metres, laminated
flooring rose 2% to 210.5 million square metres with a 7%
growth in sales of other wooden flooring. However,
bamboo flooring sales fell 3%.
In recent years the domestic market for wooden flooring
has evolved from being concentrated in the major cities to
being more diverse in the so-called second and third level
cities. Manufacturers have found that the market in the
main urban areas has become over supplied and have
therefore been forced to look to new markets.
China¡¯s sales of wooden flooring are rising but analysts
point out that the number of large and medium-sized
enterprises is relatively small compared to the number of
small scale companies that accounted for almost 90% of
the wooden flooring industry output last year.
For a guide to second and third tier city ranking see:
https://www.quora.com/What-cities-in-China-are-consideredfirst-
tier-second-tier-and-third-tier-Why
Slower pace to house price increases
Data from the National Bureau of Statistics (NBS) has
shown that January house prices in the largest cities rose
but at the slowest pace in the past 12 months. Analysts say
a slowdown in price growth must be due after last year's
astonishing 19% rise.
Out of the 70 cities analysed by the NBS house prices
increased in 45 cities, fell in 20 cities and remained flat in
5 cities.
See:
http://www.stats.gov.cn/english/PressRelease/201702/t20170222
_1465428.html
Hebei Bazhou export furniture zone
According to information from the Hebei General
Administration of Quality Supervision, Inspection and
Quarantine Bureau, the furniture export zone in Bazhou is
one of the largest in the country.
The total value of furniture exported from Bazhou City in
2016 rose 55% to US4247.49 million. Exports included
eight different categories of furniture such as living room
furniture, dining room furniture, school furniture, office
furniture, commercial furniture, tourist furniture, venue
furniture and hotel furniture.
Furniture products from Bazhou have been exported to
Italy, Holland, France, UK and Australia. The local brand
¡°Deltasleep¡± from Langfang Aimu Home furnishings Co.,
Ltd in the zone has been successfully registered in France.
 
GDP expands 6.7% in 2016
According to the statistics from the National Bureau of
Statistics (NBS), China's economy grew 6.7% year on year
in 2016, a slowdown from the 6.9%t growth registered in
2015. China's economy ended 2016 on a positive note,
supported by consumer spending and a booming property
market which remaining the pillars of economic
expansion.
Economic growth in 2016 was the slowest annual
expansion in 26 years but was in line with the official
target range of 6.5 to 7% for 2016. For the fourth quarter,
China's economy grew 6.8% beating market forecasts.
NBS data showed that industrial output slowed slightly
last year and investment in fixed assets continued slowed
but, on the other hand, retail sales were very positive.
Foreign trade in 2016
According to China's the General Administration of
Customs (GAC) 2016 trade fell almost 1% year on year
but this was better than the situation in 2015.
The value of imports and exports fell 8.1% in the first
quarter of last year and by 1.1% in the second quarter but a
recovery was seen in the third and fourth quarters.
See: http://news.xinhuanet.com/english/2017-
02/21/c_136073735.htm
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