China's industrial profits up 11.8 pct in first 11 months -- Profits of China's major industrial firms grew 11.8 percent year on year in the first 11 months of 2018, down from the 13.6 percent expansion for the January-October period, the National Bureau of Statistics (NBS) said on December 27.
China's service trade deficit narrows in November-- China's deficit in foreign service trade shrank slightly to the lowest monthly volume of the year at 20 billion U.S. dollars in November, down from 20.6 billion dollars in October, the State Administration of Foreign Exchange (SAFE) said in a statement. In the first 11 months, service trade deficit totaled 269 billion dollars, the SAFE said.
China's farm produce prices continue to climb -- Prices of farm produce in China continued to climb in the week ending Dec. 23, with a rise in the cost of 30 types of vegetables, data from the Ministry of Commerce showed on December 26. The price index for farm produce went up 0.2 percent in the past week, following a 1 percent gain the previous week, while the index for production materials edged down 0.5 percent.
Banking institutions in China see rise in assets, liabilities -- China's banking institutions saw an increase in total assets and liabilities, according to data published on December 25 by the country's top banking regulator. By the end of November, onshore assets of China's banking financial institutions, including commercial banks, policy banks and rural credit cooperatives, climbed 6.3 percent from a year earlier to 259.91 trillion yuan (37.71 trillion U.S. dollars), according to the China Banking and Insurance Regulatory Commission (CBIRC).
China's imports to surpass 2 trln USD in 2018: official -- China's total imports will likely exceed 2 trillion U.S. dollars this year, setting a new record, a trade official said. China lowered tariffs on an array of products from medicines to vehicles in 2018, with the general duty level down from 9.8 percent to 7.5 percent. Customs data showed imports increased 14.6 percent year on year in the first 11 months, contributing more than 60 percent to foreign trade growth.
China's lottery sales up 10.8 pct in November -- China's lottery sales rose 10.8 percent year on year to 42.72 billion yuan (about 6.2 billion U.S. dollars) in November, official data showed on December 25. Sales of welfare lottery tickets went up 1.6 percent from a year ago to 19.7 billion yuan, while sports lottery sales jumped 20.1 percent to about 23 billion yuan, the Ministry of Finance said in a statement.
China spends 6 trillion yuan on medical services from 2013 to 2017 -- The Chinese government spent 5.95 trillion yuan (about 862 billion U.S. dollars) on medical services from 2013 to 2017, with an average annual increase of 11.7 percent, according to a report submitted to the top legislature. China's fiscal spending on medical services in 2017 was 1.4 trillion yuan, a 55.5-percent increase from 2013, accounting for 7.1 percent of national fiscal spending.
China's rubber industry reports strong profits -- China's rubber industry saw strong growth in profits in the first 10 months of this year, according to new data from the Ministry of Industry and Information Technology. In the January-October period, the total profits of 373 tracked companies rose 31.14 percent year on year to 13.07 billion yuan (about 1.9 billion U.S. dollars), the ministry said in a statement. Total output of the industry rose 6.31 percent to 283.13 billion yuan, while sales revenue rose 6.12 percent to 281.62 billion yuan.
China's telecom industry sees steady performance -- China's telecommunications industry registered steady growth in the first 11 months of the year, official data showed. The total business revenue of the industry reached 1.2 trillion yuan (about 174 billion U.S. dollars) in the January-November period, up 2.9 percent year on year, according to the Ministry of Industry and Information Technology. The pace of growth was 0.2 percentage points faster than that for the first 10 months.
China's export container transport index up in November -- China's container transport for export purposes gained momentum in November as the market was bolstered by peak season, according to data from the Shanghai Shipping Exchange. The average China Export Containerized Freight Index stood at 853.76 points in November, up 2.3 percent from a month earlier, the exchange said in a statement. Since the beginning of this year, the index has averaged 815.09, lower than last year's average of 820.47.
China's digital economy contributes more to GDP: report -- China's digital economy accounted for a bigger share of gross domestic product (GDP) in the first half of this year, with more room for further improvement, a report showed. The digital economy was estimated at 16 trillion yuan (2.32 trillion U.S. dollars) in the January-June period, according to the China Academy of Information and Communications Technology (CAICT) under the Ministry of Industry and Information Technology.
China's marine economy grows 7.2 pct annually since 2012: report -- China's marine economy has seen an average annual growth rate of 7.2 percent since 2012, reaching 7.76 trillion yuan (around 1.12 trillion U.S. dollars) in 2017, according to a report submitted on December 24 for review at a bimonthly session of the National People's Congress Standing Committee. China's marine economy, which consists of three marine economic zones in the north, east, and south of the country, accounted for 9.4 percent of the gross domestic product in 2017, said the report.
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