China's industrial profits up 17.1 pct in Jan.-July -- Profits of China's major industrial firms grew 17.1 percent in the first seven months of 2018, slightly down from the 17.2-percent expansion for the January-June period, official data showed on August 27.
China banking sector's assets up 7.5 pct-- Chinese banks held 254.3 trillion yuan (37 trillion U.S. dollars) in assets as of the end of July, according to data released Monday by the China Banking and Insurance Regulatory Commission. The volume marked an increase of 7.5 percent year on year, the regulator said.
China's SOE profits grow at faster pace-- Profit growth in China's state-owned enterprises (SOEs) accelerated in the first seven months of the year, official data showed on August 24. Combined profits reached 2.02 trillion yuan (about 295 billion U.S. dollars) for the January-July period, up 21.4 percent year on year, according to the Ministry of Finance.
Macao's retail sale up by 23.7 pct in Q2-- Macao's retail sale value for the second quarter increased by 23.7 percent year-on-year to 18.01 billion patacas (about 2.24 billion U.S. dollars), the special administrative region's statistic department said here on August 25. Statistics and Census Service (DSEC) said in its latest report that although the retail increased year-on-year, it fell by 13.4 percent as compared with the revised figure in the first quarter this year.
China's VR market to reach 90 bln yuan by 2020-- China's virtual reality (VR) market is expected to continue rapid growth in the next few years, an industry expert has said.The VR market will likely exceed 90 billion yuan (about 13.1 billion U.S. dollars) by 2020, with compound annual growth rate of over 120 percent, said Wang Peng, deputy head of China Center for Information Industry Development with the Ministry of Industry and Information Technology (MIIT).
China Life Insurance's premium revenue up 4.2 pct in H1 -- China Life Insurance Company Ltd. saw its premium revenue up 4.2 percent year on year in the first six months to surpass 360.4 billion yuan (about 52.3 billion U.S. dollars). During the period, the company's domestic market share rose to 22 percent, up 2.3 percentage points compared to the end of 2017, keeping its position as the industry leader, according to a financial report the insurer filed with Shanghai Stock Exchange.
China's civil aviation sector maintains steady growth in H1-- China's civil aviation sector expanded at a steady rate in the first half of the year. Total air transport turnover reached 58.4 billion tonnes-km in H1, up 13 percent year on year, a faster growth than the 12.5-percent increase in turnover for 2017, according to the Civil Aviation Administration of China.
China's logistics sector steady in Jan-July-- China's logistics sector posted steady growth in the first seven months of 2018, with the value of goods carried by the sector up 6.9 percent year on year. From January to July, the total value of products carried by the sector rose to 154.1 trillion yuan (22.4 trillion U.S. dollars), according to the China Federation of Logistics and Purchasing.
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