Foreign money still welcome in China

Foreign money still welcome in China: Yesterday, the National Development and Reform Commission and five other departments released a new plan to increase foreign investment in China’s manufacturing industry. The plan proposes to support foreign-funded projects via policy support for (among other things) land use, logistics, and staffing.

Pig profits: After the hog market finally turned positive at the start of the second quarter, Muyuan Foods 牧原食品, one of China’s largest pork producers, has erased all losses from the first half of the year, declaring net profit for the third quarter of 8.19 billion yuan ($1.12 billion), a year-on-year increase of 1,097%.

Tough time for toys: Yesterday, Chinese toy company Pop Mart 泡泡玛特 announced that it expects third quarter revenue to decline by up to 10% year-on-year. Revenue in mainland China declined by up to 15%, while overseas revenue (including Hong Kong, Macau, and Taiwan) increased by up to 120%.

Aviation transport and investment: At a press conference earlier today, the Civil Aviation Administration announced numbers for the third quarter: Passenger traffic was 86.39 million person-trips, and there were 1.56 million tonnes of freight and mail transported, year-on-year decreases of 19.7% and 9%, respectively. In the first nine months of the year, total infrastructure investment in the civil aviation industry amounted to 79.85 billion yuan ($10.93 billion).