China's producer prices rise faster in June -- China's producer price index (PPI), which measures costs for goods at the factory gate, rose 4.7 percent year on year in June, the National Bureau of Statistics (NBS) said on July 10. The growth rate beat market expectations of 4.5 percent and was faster than the 4.1-percent rise in May, picking up pace for three consecutive months, according to the NBS data. Month on month, the producer prices edged up 0.3 percent in June, slightly slower than the 0.4-percent rise in May.
China's farm produce prices see slower declines -- China's farm produce prices saw slower declines in the week ending July 8, as vegetable prices stabilized, according to data from the Ministry of Commerce on July 10. The price index for farm produce edged down 0.1 percent in the past week, narrowing from a 0.8-percent fall the previous week. The index for production materials fell 0.5 percent. The average wholesale price of 30 kinds of vegetable went up 0.3 percent, compared with a 2.7-percent drop the week earlier.
China's economy predicted to expand 6.7 pct in H1 -- China's economy is predicted to expand 6.7 percent in the first half of 2018, slightly retreating from the growth seen in the first quarter but showing continued resilience, according to forecast by financial institutions and economists. Despite some external uncertainties, China's economy has extended an improving trend on the back of the global economic recovery, rising new growth momentum and a warming property market, said a report released by the international financial research institution with the Bank of China.
China's insurance premium income falls in January-May -- China's insurance sector saw premium income drop 5.9 percent year-on-year to 1.9 trillion yuan (about 286 billion U.S. dollars) in the first five months, according to official data. The decline came as authorities enhanced regulation of the sector to defuse financial risk. Property insurance firms posted a 15.3-percent increase, but life insurance companies, which account for over 70 percent of the total premium income, registered a 11.5-percent dip, data from the China Banking and Insurance Regulatory Commission showed.
China's inflation to stay mild in H2 -- China's consumer price index (CPI), a main gauge of inflation, grew mildly in the first six months and stayed below the annual target, as analysts expect a benign figure for the rest of 2018. Data released on July 10 by the National Bureau of Statistics (NBS) showed a 2 percent CPI increase in the Jan -June period, well within the annual target of around 3 percent. On a month-on-month basis, the CPI declined 0.1 percent in June primarily due to lower prices of fresh fruits and vegetables driven by abundant supply, said NBS statistician Sheng Guoqing.
China-Russia Expo attracts at least 42,000 visitors -- The ongoing fifth China-Russia Expo has attracted around 42,000 visitors, including 2,700 people from China, the expo's organizing committee said on July 11 at a press conference. Fifteen Chinese provincial government delegations and nine Russian provincial government delegations have participated in the event, according to Wang Jingxian, Chinese Deputy Secretary-General of the China-Russia Expo's Organizing Committee.
Output value of China's forestry industry hits record -- The total output value of China's forestry industry exceeded 7.1 trillion yuan (1.1 trillion U.S. dollars) in 2017, the National Forestry and Grassland Administration said on July 8. The output was only about 134 billion yuan in 1994, not more than one fiftieth of the latest figure, officials from the administration said during the three-day Eco Forum Global Annual Conference that closed in southwest China's Guizhou Province on July 8.
China sees steady new businesses growth in H1 -- China saw steady growth of new businesses in the first half (H1) of the year. A total of 3.27 million new enterprises were established in the first six months of 2018, up 12.5 percent year on year, according to the State Administration for Market Regulation. About 18,100 new firms were set up each day in H1.
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