China FDI falls 1.2 pct, ODI down 44.3 pct -- Foreign direct investment (FDI) into the Chinese mainland dropped 1.2 percent year on year in the first seven months to 485.42 billion yuan (72.79 billion U.S. dollars), data from the Ministry of Commerce showed on August 15. In the first seven months, 17,703 new foreign-funded companies were established, up 12 percent year on year, according to the ministry.
China's M2 growth slows, new loans stable -- China's M2 growth continued to slow in the last month, but new loans and other financing data were steady, central bank data showed on August 15. M2, a broad measure of money supply that covers cash in circulation and all deposits, expanded 9.2 percent from a year earlier as of the end of July, the People's Bank of China (PBOC) said in a statement. Decelerating for a sixth straight month, the M2's growth rate in July marked a new low.
Chinese banks report net forex sales drop in July -- Chinese commercial banks recorded a smaller net forex settlement deficit in July as cross-border capital flows stayed balanced and stable, the forex regulator said on August 16. Commercial banks bought 128 billion U.S. dollars worth of foreign currencies and sold 143 billion dollars last month, resulting in net sales of 15 billion dollars, according to the State Administration of Foreign Exchange (SAFE). This marks a 26 percent decline from a monthly deficit of 21 billion dollars in June.
Chinese banks' bad loan ratio unchanged in Q2 -- Chinese commercial banks' bad loan ratio remained flat in the second quarter due to strengthened efforts from financial regulators to rein in risks, data from the banking regulator showed. The non-performing loan (NPL) ratio stood at 1.74 percent at the end of June, the same as that three months earlier, China Banking Regulatory Commission (CBRC) said in a statement on August 15.
China's rail freight grows faster as economy holds steady -- China's rail freight volume recorded faster growth in July, the national railway operator said on August 16. Railways carried 246 million tonnes of cargo last month, up 17 percent year on year, up from a 15.5-percent growth in June, according to figures from the China Railway Corporation (CRC). Freight by high-speed railway was up 70 percent year on year in July.
China's power consumption accelerates as service sector expands -- China's power use rose 9.9 percent year on year to 607.2 billion kilowatt-hours in July, accelerating from a 6.5-percent increase in June, according to figures from the National Energy Administration (NEA). A robust service sector drove the upturn in power use, using 13.1 percent more electricity than the same period of last year, compared with a 11.1-percent increase in June, the NEA data showed.
Coal producers post higher profits as China cuts capacity -- China's large coal companies earned 147.5 billion yuan (about 22.1 billion U.S. dollars) in total profits in the first half, 140.3 billion yuan more than the same period of last year, according to the National Development and Reform Commission (NDRC), China's top economic planner. The turnaround came after China forced about 111 million tonnes of coal production capacity out of the market in the first six months, 74 percent of the annual target. Last year, China eliminated 290 million tonnes of overcapacity in the coal industry.
China's oil, gas exploration investment up 12.6 pct -- China's oil and natural gas exploration investment rose 12.6 percent during 2012-2016 period when compared with the previous five years, the Ministry of Land and Resources (MLR) said on August 15. China has discovered more than 10 100-million-ton oil fields so far. China aims to increase domestic crude oil output to 200 million tonnes by 2020, while supply capacity for natural gas should exceed 360 billion cubic meters, according to the five-year plan released by the National Development and Reform Commission and the National Energy Administration in January this year.
China's health service industry to reach 16 trillion yuan by 2030 -- China will boost its health-related industries and estimates the market for health services will reach 16 trillion yuan (about 2.4 trillion U.S. dollars) by 2030, the National Health and Family Planning Commission (NHFPC) said on August 14.
China's mobile apps exceed 4.02 mln -- China continued to see a booming mobile app market in the first half of this year with over 4.02 million mobile apps. Mobile games boasted the largest number of apps with 1.17 million as of the end of June, followed by daily life services and e-commerce, according to the report released by the Ministry of Industry and Information Technology.
China becomes biggest foreign investor of
Brazil -- China has become the largest investor of Brazil so far this year as the Chinese enterprises continue the mergers and acquisitions (M&As) there, according to the statistics just released by the China-Brazil Business Council. China's direct investment in Brazil through M&As has been increasing since 2013. Cross-border M&As by the Chinese enterprises in Brazil hit 11.92 billion U.S. dollars in 2016, making China surpass the U.S. and become Brazil's biggest source country in terms of the M&As for the first time.
Xiamen facilitates 69.37m USD tariff reduction to boost B&R exports -- The Entry-Exit Inspection and Quarantine Bureau of Xiamen in East China's Fujian Province issued 54,764 Certificates of Origin (COs) for countries along the Belt and Road (B&R) with a total value of about 1.976 billion U.S. dollars from January to July 2017, growing 12.9 percent and 4.88 percent, respectively, according to statistics released by the bureau. The COs were mainly issued to mechanical and electrical products, clothing, footwear and stoneware. Among them, 39,182 regional preferential COs, with a total value of 1.387 billion U.S. dollars, are expected to facilitate tariff exemption and reduction worth 69.37 million U.S. dollars for the enterprises.
A single purchase
