Despite an abortive attempt in August to devalue the renminbi — a move that rocked global markets and was quickly abandoned by Beijing — China’s trade-weighted exchange rate was 8.5 per cent stronger in September than a year earlier, making Chinese exports less competitive.
Switzerland, Sweden and the UK again occupied the top three slots in the ranking. Fifteen of the top 25 economies in the GII come from Europe.
The growth has laid a solid foundation for the development of the film industry in China in the future, the experts added.
The general weakness in the renminbi, which fell 1.3 per cent in January and had weakened by 2.2 per cent in the final quarter of 2015, is likely playing a part, by making overseas goods more expensive. However, exports have yet to receive a boost from the currency’s depreciation.
Years of growth fuelled by access to cheap funding by virtue of low interest rates in the developed world and China’s robust appetite for commodities are seen ending, leading economists at the Bank of International Settlements to warn of negative spillovers as borrowing costs rise.
But what about the tens of thousands of Irish fans? They're out of control.
Against: Strong in many categories, but without quite managing to be a front runner in any. Perhaps Timothee Chalamet's performance is its best chance of awards success.
Only asset management firms saw profits rise, up 16.7 per cent year-on-year to Rmb3.7bn.
We were all going direct to Heaven, we were all going direct the other way