Friday 2 September 2016 Shanghai Call Center: Cloudy 26/35°C (86-21) 962288 • Flag day for students METRO/A4 Children fly the flag at an opening ceremony for the new semester at a primary school in Shanghai. About 2 million middle, primary and preschool students were at their desks yesterday, with more officers on duty near schools to deal with increased traffic. — Dong Jun STRONG ACTION PLEA to G20 LEADERS IMF says leading economies have fallen far behind their 2014 goals to boost growth THE International Monetary Fund is calling “a tool to improve lives.” It said they should on G20 leaders to take much stronger action adopt policies to foster innovation and new Thumbs-Up For Summit Organizers to boost demand, revive flagging trade, make industries and improve labor mobility. Senior officials in charge of prepara- long-delayed structural reforms to econo- “It is easy to blame trade for all the ills tions for the G20 summit in Hangzhou mies and share growth more broadly. afflicting a country, but curbing free trade yesterday gave a thumbs-up to China’s In a briefing note to heads of state of the would be stalling an engine that has brought organizing of the meeting under its G20 group of leading economies ahead of unprecedented welfare gains around the presidency. their summit in Hangzhou on Sunday and world over many decades,” IMF Managing A statement by the Chinese foreign Monday, the IMF said yesterday that they Director Christine Lagarde said. ministry said basic agreements had had fallen far behind in their 2014 goals “However, to make trade work for all, been reached on a G20 blueprint for to boost collective growth by 2 percentage policy-makers should help those who are innovation-driven growth, an action plan points within five years. adversely affected through re-training, to carry out the United Nations 2030 It said its research showed the growth skill building, and assisting occupational Agenda for Sustainable Development, of goods and services trade volumes had and geographic mobility.” The IMF is none- and an initiative to support the industri- slowed in most countries since 2012 to half theless likely to downgrade its economic alization in Africa and the least devel- the pace in the two decades to 2007. growth forecasts further, she said. oped countries. “While three-fourths of this drop can be The IMF also repeated its view that mon- Fundamental consensus was also traced to weaker economic activity, nota- etary policy be kept accommodative to fight reached on a set of high-level principles bly weak investment, the waning pace of low inflation and said countries with the in cross-border manhunt and the return trade liberalization and a recent uptick in fiscal space should pursue needed public of illicit assets in anti-graft cases among protectionist measures have added to the investments in infrastructure and support G20 members, a global trade growth downward momentum,” the IMF said. “Such growth by avoiding direct tax increases on strategy, and a guideline for global reductions in global trade can feed back to consumers. Some should also use public investment. China took over the G20 lower GDP growth.” funds to help rebuild financial sector bal- presidency in December 2015. It urged the leaders to “make the positive ance sheets. (Xinhua) case for globalization” and portray trade as (Reuters) Price 2 Yuan Brazil’s new leader denies claims of coup Vol.017 No.5533 TOP NEWS/A3 A2 PAGE TWO Friday 2 September 2016 Shanghai Daily Index Top News A3 Metro A4 Factories pick up the pace in August Feature A5 Nation A6 Leng Cheng forthcoming industrial produc- yuan and tepid global demand tion and export data for August continued to weigh on Chinese Opinion A7 CHINA’S manufacturing activ- may improve somewhat,” Aus- factories. Business A8-A10 ity expanded at its fastest pace tralia and New Zealand Banking The “stagnant” status of eco- in nearly two years in August, World A11-A12 Group said in a research note. nomic stability was also partly according to fig ures released yes- 50.4 What’s On A13 “The improved business condi- due to a short-term tightening up terday, but private manufacturers Comics/Games A14 tions should offer some relief for In August, China’s manufac- of fiscal support, Zhong Zhengsh- posted data that was weaker than Sports A15-A16 some industries in the course of turing activity expanded at its eng, director of macroeconomic expected. capacity reduction.” analysis at CEBM Group, said in a Weekend B1-B12 fastest in nearly two years. The Purchasing Managers’ Zhao Qinghe, a senior analyst note after the PMI report. Index, which mainly tracks large at NBS, said: “Aug ust is the begin- “China’s economy is still state-owned companies, rose to ning of China’s manufacturing to increase. Among small and facing downturn pressure in as- 50.4 last month, according to the peak season, and we expect the medium-sized manufactures, pects such as external demands, National Bureau of Statistics, its official PMI will go higher in the production and new orders both property market and produc- highest reading since October coming months. rose at slower rates while export tion reduction,” Zhong said. “A Give us a call 2014. “ H i g h -te c h a n d c o n s u m e r go o d s sales continued to decline in Au- relatively loose fiscal policy is Editorial: The Caixin China General are doing well. It’s a positive sign gust, Caixin said, calling current needed to maintain a stabilized (86-21) 5292 0884 Manufacturing PMI survey, focus- that China’s manufacturing is operating conditions “stagnant.” economy.” [email protected] ing on small and medium-sized changing from the low-value- “The big question is where While the government has said firms, came in at 50 last month Supplements: added end to the higher one.” growth momentum on a sequen- several times that a large-scale (86-21) 5292 0242 compared to July’s 50.6 reading. But t he re a re conce r n s t he ga i n s tial perspective is going over the monetary stimulus is unlikely A third survey, meanwhile, re- aren’t shared equally, analysts next few quarters. There’s still a this year and extra loosening Advertising: vealed the official services PMI said, as the different perfor- lot of uncertainty,” said Zhu Hai- is not needed at present, ana- (86-21) 5292 0242 fell to 53.5 in August, down from mances by firm size reflects a bin, chief China economist and lysts warn that falling private (86-21) 5292 1234 53.9 in July. Figures above 50 in- ext. 618012 deteriorating business environ- head of China economic research investment and volatile housing advertising@ dicate growth. ment for smaller enterprises with at JP Morgan. policies should be the next things shanghaidaily.com “This data suggests the credit risks in the segment likely He added that a depreciating to worry about. 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