China’s Mixed Picture At The Moment

This week, China announced new economic data that suggested a mixed condition of economic and consumer activity and confidence.

?China's Industrial Output Sees Annual Growth Of 6.3% In 2012-2021

China's industrial output logged an average annual growth of 6.3 percent in the 2012-2021 period as the country's manufacturing sector gained strength, according to an official news conference on Tuesday.

The industrial value-added output had risen from 20.9 trillion yuan (US$3.1 trillion) in 2012 to 37.3 trillion yuan in 2021, Xin Guobin, vice minister of industry and information technology, told a press conference.

The growth was well above the global average of about 2 percent for the period, Xin noted.

Despite the COVID-19 epidemic, the average growth rate for 2020 and 2021 reached 6.1 percent, playing an important role in stabilizing the global industrial chain and promoting the recovery of the world economy, the vice minister said.

?Food Prices Fuel 4.6% Rise In Shanghai CPI In May

Shanghai's consumer price index, a main gauge of inflation, rose 4.6 percent year on year in May, mainly lifted by surging food prices.

It marked the second consecutive month with a CPI growth of over 4 percent year on year, and the increase was faster than the national figure, which was 2.1 percent, the city's Bureau of Statistics said on Tuesday.

The price of consumer products rose 7.5 percent in May, while that of services increased 1.4 percent from a year earlier.

Food prices soared 19 percent year on year. The prices of vegetables and eggs rocketed by 50.8 percent and 52.3 percent, respectively.

Dried and fresh fruit prices and prices of aquatic products both rose at a faster pace than the previous month, up 35.9 percent and 19.6 percent, respectively. Meat prices picked up 3.7 percent year on year, reversing the decline in April.

In other major sectors, transportation and communication prices went up 4 percent in May. The price of household goods and services, health care, education, culture and entertainment, housing, and other supplies and services rose 2.5 percent, 2.4 percent, 2.3 percent, 1.2 percent and 0.3 percent, respectively.

Clothing prices edged down 0.4 percent.

For the January-May period, the city's CPI was 2.8 percent higher than the same period last year.

China's Retail Sales Down 1.5% In January-May

?China's retail sales of consumer goods went down 1.5 percent year-on-year in the first five months of this year, the National Bureau of Statistics (NBS) said Wednesday.

The country's retail sales of consumer goods amounted to 17.17 trillion yuan ($2.54 trillion) during the period, data from the NBS showed.

In May alone, retail sales decreased 6.7 percent from a year ago to 3.35 trillion yuan.

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Disneytown, Disneyland Hotel to reopen on Thursday

Disneytown and the Shanghai Disneyland Hotel will reopen on Thursday, Shanghai Disney Resort has announced.

Upon reopening, many of the shopping, dining, and recreational experiences in Disneytown will be available to guests, operating with limited capacity.

Restaurants will offer adjusted menus featuring "grab-and-go" items.

The operation hours for Disneytown will be from 10am to 7pm, except for the World of Disney Store, which will operate from 9am to 7pm.

The Disneytown Parking Lot will also resume operation on Thursday, and will be open from 9am to 8pm daily.

From now on, guests can make reservations for the Shanghai Disneyland Hotel through Shanghai Disney Resort's official website, app, and WeChat account, as well as the Resort Reservation Center and the resort's official travel partners' channels.

All room types will be available for reservations, subject to availability.

Most of the hotel's iconic dining experiences, including Lumière's Kitchen and Aurora, together with the Disney fairies-themed shop, Tinker Bell Gifts, will reopen at the same time.

Select hotel facilities, such as the King Triton Pool and the onsite fitness center, as well as the Wishing Star Ferry will remain closed temporarily.

Until July 12, Shanghai Disneyland Annual Pass holders will be able to enjoy a discounted room rate – approximately 20 percent off – for a Deluxe Garden View room at the hotel from June 16 to July 13.

?Shanghai Disney Resort has been shut since March 21 following the COVID-19 pandemic resurgence in the city. On June 10, Wishing Star Park, the World of Disney Store and the Blue Sky Boulevard resumed operation.

At this time, the resort's theme park, Shanghai Disneyland, and its other themed hotel, Toy Story Hotel, will stay closed until further notice.

During the reopening period, Shanghai Disney Resort will continue to implement its enhanced health and safety measures.

All guests will be required to present a green Suishenma health code and a negative nucleic acid test taken within 72 hours, as well as scan the venue code.

From Shanghai, please de safe, prosperous and entrepreneurial!

?Alexander Glos