Fitch hikes China GDP forecast for 2021

Fitch Ratings has raised its forecast for China's gross domestic product growth to 8 percent next year, up from 7.7 percent in its previous forecast in September, said media reports. "This would be well above our estimate of China's long-term growth potential of around 5.5 percent, but is quite achievable from such a low base in 2020," Fitch analysts Brian Coulton and Pawel Borowski said in a report.

Foreign trade surges past $15.3b in Henan

Central China's Henan province saw its foreign trade cross 100 billion yuan ($15.3 billion) in November, a monthly record, local authorities said. From January to November, the province's foreign trade grew by 11.5 percent to more than 574 billion yuan, according to Zhengzhou Customs. Henan's exports reached 351.5 billion yuan, up 4.7 percent on a yearly basis, while imports stood at 222.7 billion yuan, an increase of 24.2 percent in the first 11 months of this year. Integrated circuits and components used in the mobile industry are the major imports of the province. Mobile phones, which are the main export item of Henan, account for about 56 percent of the total foreign trade value, Customs said.

Xinhua