China's sharing economy to hit 4.5 tln yuan this year -- China's sharing economy will grow about 40 percent this year to 4.5 trillion yuan (about 680 billion U.S. dollars), an official with the national economic planner said on November 15. "The sharing economy is expected to maintain annual growth of about 40 percent over the next few years," according to Meng Wei, spokesperson of the National Development and Reform Commission (NDRC). In 2016, the sharing economy had total transactions of 3.45 trillion yuan, more than double the 2015 figure, involving more than 600 million people, Meng told a press conference.
China's power use growth slows in October -- China's electricity consumption posted a slower increase in October, adding to signs of moderating economic growth but a still strong service sector, data showed on November 15. Power use rose 5 percent year on year, compared with 7.2 percent in September and 7 percent in October last year, according to the National Development and Reform Commission (NDRC). For the January-October period, electricity use totaled 5.2 trillion kilowatt hours, up 6.7 percent year on year, NDRC spokesperson Meng Wei told a press conference.
China reports increase in foreign direct investment in October -- Foreign direct investment (FDI) into the Chinese mainland rose 5 percent year on year to reach 60.12 billion yuan (around 9.05 billion U.S. dollars) last month, data showed on November 14. The growth slowed down in comparison with September when the country's FDI rose 17.3 percent, according to data from the Ministry of Commerce. In the first 10 months, the country's FDI hit 678.7 billion yuan, up 1.9 percent from the same period a year ago and higher than the 1.6-percent increase for January-September period.
China's rail freight up 4.3 pct in October -- China's rail freight volume, an indicator of economic activity, registered steady growth in October, the national railway operator said on November 14. Railways carried 255 million tonnes of cargo last month, up 4.3 percent from a year earlier, according to figures from the China Railway Corporation (CRC). In the first 10 months, rail freight volume totaled 2.44 billion tonnes, up 12.8 percent year on year. CRC data also showed that more than 275 million passenger trips were made through the railway network in October, up 11.6 percent.
China's private investment up 5.8 pct in first 10 months -- China's private fixed-asset investment recorded a slowdown in growth in the first 10 months of this year, but the overall investment structure has improved, official data showed on November 14. In the first 10 months, fixed-asset investment (FAI) by the private sector grew 5.8 percent year on year to 31.37 trillion yuan (about 4.73 trillion U.S. dollars), the National Bureau of Statistics (NBS) said. The growth rate was lower than the 6-percent increase for the first nine months, said the NBS.
China's property investment, sales slow in first ten months -- Both investment and sales in China's property sector slowed in the first 10 months as the market remained cool amid government policies to curb speculation. Real estate investment rose 7.8 percent year on year in January-October from the same period last year, down from 8.1 percent in the first three quarters, according to the National Bureau of Statistics (NBS).
China's new energy vehicle sales double in October -- Sales of new energy vehicles in China more than doubled in October, while overall auto sales grew steadily, data from the China Association of Automobile Manufacturers (CAAM) showed on November 10. Some 92,000 new energy vehicles were produced in October, up 85.9 percent year on year, and 91,000 were sold, up 106.7 percent from October 2016, according to CAAM.
China's internet of things output reaches 930bln yuan in 2016 -- China's industrial output in the internet of things exceeded 930 billion yuan (USD140 billion) in 2016, a Ministry of Industry and Information Technology official said on November 9. The value was almost six-times the level in 2009, when the sector saw 170 billion yuan of output, said Zhu Wan, deputy head of informatization and software service at the ministry, at the opening of an internet of things conference in Fuzhou, capital of Fujian province.
Non-financial sector FDI grows by 1.9pct in first 10 months -- Foreign direct investment in China's non-financial sectors grew 1.9 percent year-on-year between January and October to 678.7 billion yuan (USD102.19 billion), the Ministry of Commerce said on November 14. A total of 26,174 newly funded foreign companies were established in the first 10 months, up 15.9 percent year-on-year, according to a statement from the ministry. (Source: China Daily)
China's online retail sales near USD1trln mark in 2017 -- China's 2017 online retail sales is approaching USD1 trillion that will buttress the country's position as the largest e-commerce market in the world, S&P Global Ratings said on November 13. The rating agency said the estimation is based on record online spending during the country's Singles Day shopping carnival on November 11. Driven by that, China's online retail industry's annual growth will be 20-25 percent in next 12-24 months. According to Syntun, a Beijing-based e-commerce data provider, the online sales totaled 254 billion yuan (USD38.26 billion) at this year's event. (Source: chinadaily.com.cn)
A single purchase
