We have a great
deficit this year.
我们今年有很大亏损。
I realize that's a
deficit of mine.
我意识到那是我的缺点。
The company had a
deficit of 5000 dollars.
这家公司损失5000美元。
Powered by knowledge-intensive trade in services, China's trade in services rose 6.7 percent year-on-year to around 2.38 trillion yuan in the first half, while the deficit of services trade stood at 120.46 billion yuan, about 281.25 billion yuan less than the same period last year, said the Ministry of Commerce.
Li Shousheng, chairman of the China Petroleum and Chemical Industrial Association, noted that the country's production of fine chemicals and new materials lags behind that of the world and there is a trade deficit of $300 billion.
"China is over-supplied with low-end commodity-grade aluminum products, but in supply deficit for high-end products and relying on imports.
Barcelona spin-off company Braingaze on Friday announced a partnership with Chinese insurance giant Ping An Group and eye-tracking startup 7invensun to jointly offer diagnostic solutions to Chinese kids who are suffering from attention deficit hyperactivity disorders.
While China's aluminum industry is currently oversupplied with low-end commodity grade products, it is in a supply deficit for high-end products.
He quickly signed long-term labor deals, worked on a pension deficit and boosted slowing sales in the company's defense division.
For the year ended June 30, last year, the company had an accumulated deficit of $1.9 billion, and $1.6 billion through June 30 this year.
The court documents showed a balance sheet deficit of more than3 billion pounds, including 1.9 billion of debt, inter-company payables and amounts owed to third-party payment service providers, bonding providers and guarantees to the Civil Aviation Authority, or CAA.
He said Kenya has a deficit of 250,000 housing units annually.
Boeing reported a loss of $5.21 a share, the first loss since a $234 million deficit in the second quarter of 2016 when the company took charges on the 787, 747-8 and KC-46A Pegasus military tanker.
Meanwhile, the company's deficit since founding reached $7.9 billion.
In December, Lyft had a total deficit of $3.6 billion, and losses have continued to grow.
Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, told CNBC in a recent interview that he foresees a “dollar crisis” in two years when the US currency will depreciate by as much as 30 percent resulting from the Federal Reserve’s need to print more money to make up for the deficit, pay pensions and meet healthcare obligations.
"Yes, the US runs a trade deficit.
Addressing increasing concerns of the widening trade deficit between the two countries in favor of China, Meyrick said the links created during the exhibition will eventually see Chinese investors setting up factories in Kenya.
"I believe that the trade deficit will be bridged in the long term.
Meanwhile, China exported $26 billion of cell phones to the US, counted as US deficit.
"The deals in energy during Trump's visit are mostly long-term ones, which will create jobs, ease the trade deficit and boost bilateral economic cooperation to a new level," said Han Xiaoping, chief information officer of China Energy Net Consulting.
"Zhu said China is currently oversupplied with low-end commodity-grade metals such as aluminum, but in supply deficit for high-end products, such as high-end aluminum alloy for auto, airplanes, yachts and others.
In 2014, Chinalco reported a deficit of 16.2 billion yuan, losing the most among the listed companies in A-share market.
"Listed as a priority project in 2014 by Russian administrative authorities, the new CHP plant is expected to tackle the Russian province's power shortages, bring down its power deficit from 40-50 percent to 5-15 percent and fully cover its total power demand in warmer months.
According to TGC staff, the operation of the Huadian-Teninskaya project will bring down Yaroslavl's power deficit from 40-50 percent to 5-15 percent and fully cover its total power demand in warmer months.
And that means a bigger fiscal deficit and a bigger role for fiscal policy in driving growth," he said.
Before 2014, the narrow fiscal deficit ratio and the broad fiscal deficit ratio remained essentially consistent.
The broad deficit ratio almost doubled that of the other in 2020.
Although the gap has since narrowed, there is potential for a significant increase in the broad deficit ratio this year.
Therefore, alongside monitoring the narrow deficit ratio, attention must be paid to the constraints posed by the broad deficit ratio, which may to some extent limit the space for fiscal policies to drive economic growth.
Experts said the country will continue to allow the budgeted fiscal deficit rate to exceed 3 percent and issue around 4 trillion yuan ($560.6 billion) of special-purpose local government bonds in 2024 — a key funding source of infrastructure investment that usually is not included in the fiscal deficit.
Lou Jiwei, chairman of the Global Asset Management Forum and former finance minister, said that China should maintain the fiscal deficit rate at around 3.8 percent in 2024 and spend the increased fiscal funds mainly on smaller enterprises, rather than on public investment.
He said China could raise its 2024 budget deficit ratio to around 3.5 percent to spur growth, expecting the government to set its 2024 quota of 3.8 trillion yuan to 4 trillion yuan in local government special bonds.
Citing the recently concluded tone-setting Central Economic Work Conference, Zhou said, "China will likely adopt a more expansionary fiscal policy next year to boost the economy amid lackluster demand, a property downturn and a cloudy global outlook, including lifting its 2024 budget deficit and further tax and fee reductions.
"Zheng Houcheng, chief macroeconomist at Yingda Securities Co Ltd, estimates that the budgeted fiscal deficit rate next year may exceed the "red line" of 3 percent.
They suggested that the budgeted fiscal deficit rate next year should exceed the so-called red line of 3 percent, which China has retained for years, and could even reach 4 percent.
China set the budgeted fiscal deficit rate at 3 percent for 2023.
Since 2008, the country's budgeted fiscal deficit rate has seldom exceeded 3 percent, except in 2020 when it was 3.6 percent and in 2021 with 3.2 percent.
The country decided to issue additional treasury bonds of 1 trillion yuan ($140 billion) in late October amid mixed economic data, expanding the fiscal deficit rate to 3.8 percent for 2023, a record high.
"It is highly necessary to allow the budgeted fiscal deficit rate for 2024 to exceed 3 percent and even reach 4 percent, given that the economic recovery lacks a solid foundation and the confidence of market entities needs a boost," Luo said.
He suggested allocating more fiscal resources to stimulate consumption rather than investment, after expanding the fiscal deficit rate next year.
Feng Lin, a senior analyst at Golden Credit Ratings, said the fiscal deficit rate will stand around 3.5 percent next year, as stronger macroeconomic policies are expected to stabilize the economy.
She said that the issuance of special-purpose local government bonds, a key funding source of infrastructure investment that is usually not included in fiscal deficit, will likely be of similar scale as this year — about 3.8 trillion yuan to 4 trillion yuan.
To achieve the target, China should prioritize deepening market-oriented reforms, especially in regard to the capital market and the fiscal system, while stepping up macroeconomic adjustments, such as raising the fiscal deficit ratio and further reducing financing costs, Yu said.
It would be sensible to set next year's deficit ratio above 3 percent, if necessary, in order to achieve the economic growth target, Yu said, stressing that an expansionary fiscal policy is crucial to stabilize growth at a level in line with the country's potential growth rate.
The country's inflation may remain low before recovering in early 2024, creating favorable conditions for expanding next year's fiscal deficit and launching more monetary accommodative measures such as cutting the reserve requirement ratio — the proportion of money that lenders must keep as reserves — and interest rates, they said.
The approval for additional treasury bonds is an "important step in the right direction", Yu said, which brings this year's deficit-to-GDP ratio to about 3.8 percent and shatters the so-called taboo of a 3 percent red line for fiscal deficit.
It would be sensible to set next year's deficit ratio above 3 percent if necessary for achieving the economic growth target, Yu said, stressing that expansionary fiscal policy is crucial for stabilizing growth at a level in line with China's potential growth rate.
The country's foreign trade deficit in terms of agricultural products rose 2.9 percent compared to a year earlier to total $106.63 billion during the period.
By showcasing Indian products and luring buyers from across the world, the fair can help to bring down India's trade deficit with China and other countries, they said.
Sahai believes that showcasing of Indian products and their appreciation by Chinese importers will not only help secure better market access for Indian traders, but will also boost exports and contribute to reduction in India's trade deficit with China and other countries.
Therefore, even without any trade deficit, the US would still inevitably witness a decline in manufacturing employment.
The ratio of China's central government debt to overall government debt remained low compared with other countries, enabling China to further increase its deficit to boost consumption and deal with risks involving local government debt and the real estate sector.
He suggested Chinese authorities expand the fiscal deficit and ease monetary policy to boost investment, consumption and job creation, and enhance confidence.
Service imports climbed 22.5 percent year on year to 2.486 trillion yuan, while service exports fell 7.4 percent from a year ago to 1.767 trillion yuan, resulting in a deficit of 718.75 billion yuan in the first eight months of the year.
First, the bank specializes in infrastructure investment, which is badly needed by developing countries suffering from a large deficit; second, it imposes neither political dictations nor economic pressures on borrowers; third, the bank allocates a large percentage to finance climate actions.
Services exports declined 6.3 percent year-on-year to some 1.54 trillion yuan, while services imports stood at nearly 2.13 trillion yuan, up 21.6 percent from a year ago, with the services trade deficit standing at 589.9 billion yuan, the ministry said.
China's trade deficit for agricultural products stood at $86.94 billion in the same period, up 8.7 percent from the same period last year.
The service trade deficit stood at 489.4 billion yuan in the first half of the year, the data showed.
China's trade deficit for farm produce stood at $76.34 billion in the same period, up 12.9 percent year-on-year, the data also revealed.
Furthermore, although it has carried out an ample amount of fiscal deficit pushes, a substantial portion has been directed toward public infrastructure projects and SOEs, leading to internal circulation and failure of smooth fund flows among and between various businesses and households.
In particular, the trade deficit with Japan has contracted sharply, and last year the deficit was almost nonexistent.
This in turn further led to a sharp contraction of China's trade deficit with these countries.
The trade deficit hit $48.23 billion in the January-April period, up 14.6 percent year-on-year, the data revealed.
China's first-quarter international payments remained largely balanced, with the country's goods trade surplus staying buoyant while trade in services and foreign direct investment registered a deficit, official data showed on Friday.
Trade in services, however, reported a deficit of $47 billion, equivalent to about half the deficit seen in 2022.
Wang attributed the first-quarter deficit to recovering outbound travel and international shipments.
In capital and financial accounts, foreign direct investment recorded a deficit of $30.2 billion in the first quarter compared with a surplus in 2022, while reserve assets increased by $25.5 billion, SAFE said.
Services imports stood at over 903.5 billion yuan, rising 21.6 percent from a year ago, while exports shrank 4.7 percent year-on-year to 680.51 billion yuan in the reporting period, resulting in a deficit of 222.99 billion yuan.
Last year, Sino-US trade reached a record high of more than $690 billion and the US' trade deficit with China grew 8.3 percent annually to $382.9 billion, according to the US Commerce Department.
China's trade deficit in services, particularly in travel services, has been a long-term concern.
The pandemic has led to restrictions on cross-border mobility, resulting in a drop in China's deficit in this category in the short term.
However, with the gradual stimulation of new growth drivers in the services sector and increased export competitiveness, China's trade deficit in services is expected to gradually decrease.
The US trade deficit with China is the result of multiple factors, including the two sides' economic structures, the global industrial division of labor and US export controls on China, she said.
To create favorable conditions for further cooperation between the two sides and to reduce the trade deficit, the United States should drop the Section 301 tariffs, relax export controls on Chinese firms and ease the trade curbs they face, Shu said.
China's service trade deficit was $4.3 billion last month, slightly down both on a monthly basis and on a yearly basis, data from the State Administration of Foreign Exchange (SAFE) shows.
The country registered a surplus of $25.9 billion in trade in goods in February, almost flat from a year ago, while trade in services saw a deficit of $4.3 billion during the period.
The 5 percent GDP growth rate target and the 3 percent fiscal deficit ratio set in the latest Government Work Report have set the tone for this year's economic development as seeking progress while maintaining stability.
Although the 3 percent deficit rate target is lower than the 3.6 percent and 3.2 percent targets set at the beginning of 2020 and 2021, respectively, this year's target is already at a high level based on experience of the past decade.
In response to shocks, the country refrained from repeatedly increasing the deficit by a large margin or printing an excessive amount of money, creating the macro conditions needed for stabilizing prices.
The annual Central Economic Work Conference in mid-December stressed the optimization of a combination of fiscal policy tools, including deficit, special bonds and interest subsidies, to safeguard fiscal sustainability and ensure that local government debt risks are controllable while effectively supporting China's high-quality development.
Headline policy targets such as annual GDP growth, the fiscal deficit, inflation and employment will be unveiled at the meetings, which come at a critical juncture as China pursues high-quality development.
While a deficit-to-GDP ratio of 3 percent is traditionally considered a technical red line, the experts said it is unreasonable to rigidly adhere to the 3 percent rule as long as China's economic growth is sufficiently fast to pay for the deficit.
When macroeconomic conditions permit, increasing the deficit ratio can actually generate positive outcomes in economic activities.
The government can expand the fiscal deficit in an appropriate manner and expand bond issuances, which have the lowest leverage ratios.
With concerns over debt risk, the central government should further expand the ratio of deficit and debt to GDP.
Domestic demand in China in 2023 is likely to increase by up to five percent, and the return in goods demand could provide a moderate boost of around 0.4 percent to GDP in most Asia-Pacific economies, it said, adding that a normalization in travel patterns should lead China's travel trade deficit to increase and boost foreign GDP.
China's foreign direct investment recorded a surplus of $32.3 billion last year, while trade in services saw a deficit of $94.3 billion, down 6 percent from a year ago, the administration said.
In the meantime, service exports expanded 12.1 percent year-on-year to 2.85 trillion yuan, and service imports amounted to 3.13 trillion yuan, up 13.5 percent on a yearly basis, resulting in a deficit of 275.71 billion yuan, the ministry said in an online statement on Monday.
"We did a lot of hard and meticulous work, and refrained from excessive money supply or continuously increasing deficit by a wide margin.
Services exports totaled 189 billion yuan last month, and services imports were at 257.5 billion yuan, resulting in a trade deficit of 68.5 billion yuan.
Speaking at an annual Chinese economic meeting held by the China Center for International and Economic Exchanges on Saturday, Xu Hongcai, China's vice-minister of finance, said the country will coordinate fiscal revenue, deficit, and special bonds to strengthen financial resources for major national strategic tasks, ce.
Luo Zhiheng, chief economist at Yuekai Securities, said that the policymakers have pledged to maintain the necessary intensity of fiscal spending, meaning that the government will maintain a relatively large-scale budget deficit and a certain volume of special bonds by local governments in order to support growth.
The country will work to better coordinate fiscal revenue, fiscal deficit and special bond, and ensure the allocation of fiscal funds goes to primary-government levels.
"The world is plagued by the rising 'understanding deficit' and 'trust deficit'," said Qu Yingpu, publisher and editor-in-chief of China Daily, in his opening remarks.
To achieve the goals, most economists expect that China may raise its fiscal budget deficit ratio to 3 percent or higher in 2023.
"China may need to raise the fiscal budget deficit to around 3.2 percent next year in order to intensify fiscal support and improve its effectiveness," Lian said.
Services exports reached 180.6 billion yuan last month, while services imports were 237.3 billion yuan, resulting in a trade deficit of 56.7 billion yuan.
China's services trade continued to expand in volume in the first nine months of this year, while its deficit narrowed, official data showed Thursday.
Services exports rose 20.5 percent year-on-year to 2.15 trillion yuan, and imports climbed 16.1 percent to 2.32 trillion yuan, leading to a deficit of 176.24 billion yuan, down 19.6 percent from a year ago.
The growth pace of service exports was 5.2 percentage points higher than that of imports, resulting in a 29.5 percent decline year-on-year in service trade deficit during this period, which was valued at 121.08 billion yuan.
Travel services have been one of the reasons for China's trade deficit in services for a long time.
In the short term, restrictions on cross-border mobility because of the pandemic are to blame for the drop in China's deficit in this category.