According to Feng Zhenglin, head of the Civil Aviation Administration of China, weather accounted for 56.8% of flight delays in 2016, up from 29.5% the previous year.
The impact will also ripple out to some net commodity importers, Mr Williams believes, with higher commodity prices likely to boost the price of resource-intensive manufactured goods such as steel, bolstering the value of exports from the like of South Korea.
The official said that some posts are more popular than others because they do not have strict requirements on education or work backgrounds of the applicants, and the jobs that have drawn thousands of applicants in recent years generally fall into such a category.
“We will see a lot of headlines about [emerging market export growth] picking up in the first half of 2017,” says Bhanu Baweja, head of EM cross asset strategy at UBS, who believes EM exports will show year-on-year growth of between 8 and 13 per cent in dollar terms in the first quarter of this year, “a complete postcode away” from the negative numbers currently being reported.
Against: Opening so early in the year outside of awards season could hinder its chances.
According to a national plan for technology development, by 2020 research and development expenditure is targeted to reach 2.5% of total GDP.