Consumer spending records robust growth in H1-- China's consumer spending was robust in the first half year, contributing 78.5 percent to the country's economic growth, up 14.2 percentage points from a year earlier, official data showed on July 19. The total retail sales of consumer goods has reached 18 trillion yuan from Jan-June, increasing 9.4 percent year-on-year, while the June figure showed a nine percent increment, picking up 0.5 percentage points month-on-month, Gao Feng, a spokesman with the Ministry of Commerce, said at a press conference.
China's consumer prices to rise 1.8 pct in 2018: economic planner -- China's consumer price index (CPI), a main gauge of inflation, is expected to grow 1.8 percent in 2018, according to the country's top economic planner.
Guizhou reports fastest GDP growth rate in H1-- Southwest China's Guizhou province recorded a 10 percent increase in its GDP in the first half year, the fastest growth among 19 provinces and regions which have released their economic data until on July 23. It was followed by East China's Jiangxi province, whose economy saw a 9 percent growth rate and total volume of its GDP for the first time crossed the trillion-yuan level, reaching 1.01 trillion yuan. From Jan-June, 15 of the 19 regions grew at or above 6.8 percent — the average growth rate in the country.
China's SOE profits grow at faster pace -- Profit growth in China's State-owned enterprises (SOEs) accelerated in the first half of the year, official data showed.Combined profits reached 1.72 trillion yuan ($253 billion) for the January-June period, up 21.1 percent year-on-year, according to the Ministry of Finance.The pace of growth quickened from the 20.9-percent rise registered in the first five months.
China micro-credit firms' outstanding loans at 976.3 bln yuan-- Outstanding loans extended by China's micro-credit companies amounted to 976.3 billion yuan (143.6 billion U.S. dollars) by the end of June, according to central bank data on July 25.The volume was up 2.2 billion yuan from the end of 2017.
Profits of Chinese steel mills surge in H1-- The combined profits of Chinese steel makers surged in the first half of 2018 on strong demand, industry association data showed July 25. In the first half, profits of about 380 steel makers stood at 139.27 billion yuan (about 20.5 billion U.S. dollars), up 151.15 percent year on year, according to the China Iron and Steel Industry Association (CISA).
China sees fewer unsold homes: report -- The number of unsold homes in China continued to drop last month, the latest sign that a national campaign to rebalance a saturated property market is effective. The unsold housing stock in 100 Chinese cities declined 8 percent from a year ago to 426.43 million square meters at the end of June, according to a report by E-house China R&D Institute, a property research agency. The amount retreated to the level of more than six years ago.
China's listed companies upbeat about H1 performance -- China's listed companies are happy with their performance in the first half of the year, as the economy grew beyond expectations. So far, 2,141 companies listed on the country's two stock exchanges have released mid-year performance estimates, and 54 percent of them expect profit growth, according to Securities Times. Some 392 companies, or 18 percent of the total, expect net profits to at least double, while another 114 loss-making firms forecast turnarounds.
China's property loans to individuals see slower growth -- China's property loans to individual purchasers grew at a slower pace in the second quarter as government restrictions remain in place in major cities, data from the central bank showed. By the end of last month, financial institutions had lent 23.84 trillion yuan (3.5 trillion U.S. dollars) to individual property buyers, up 18.6 percent year on year, according to a report from the People's Bank of China (PBOC).
Investment, financing in Chinese internet firms surge in Q2: report-- China's internet sector received about 27.6 billion U.S. dollars in the second quarter of 2018, up 72.5 percent year-on-year, according to a report released on July 20. The number of internet companies receiving investment and financing in Q2 reached 727, up 87.4 percent year-on-year, said the report by China Academy of Information and Communications Technology.
China's social e-commerce to reach 170 bln dollars in 2018-- China's social e-commerce will reach 1.14 trillion yuan (170 billion U.S. dollars) in 2018, with a year-on-year increase of 66.7 percent, according to a report by the 2018 China Internet Conference earlier this month. Social e-commerce, which emerged in 2013 in China, combines social media with e-commerce. E-commerce platforms Xiaohongshu and Pinduoduo are two examples.
A single purchase
