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When it enters May 2012, global economic environment becomes more complex. Some European countries will face the general election. Greek debt crisis is escalating; whether it can continue to stay in the Eurozone depends on the election on June 17, 2012. According to the estimation from National City Bank of New York, the possibility for Greece to leave the Eurozone is as high as 75%. If it really comes true, larger-scale debt crisis may initiate in many European countries, such as Italy and Spain. For bio-material, the Eurozone is the main consumer market, and most bio-material products made in China are exported to Eurozone. So we should pay more attention to the Greek debt crisis.
While in China, HSBC issued that China's manufacture industry PMI in May 2012 is 48.7, the seventh successive month's PMI below 50. It shows three problems for Chinese macro-economy—weak demands, the falling back of commoditiy prices and the decreased driving forces for the economy. However, it can promote the Chinese government to publish more economy stimulus policies. China's bio-material industry can grasp this opportunity to improve itself and develop domestic market. Besides, corn and wheat, the main raw materials of bio-materials, still keep relatively high prices at the moment.
CCM International will continuously follow relevant event's latest development.
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