China's insurance premium income up 19 pct -- China's insurance premium income continued to see steady growth, with a 19.17-percent year-on-year rise in the first 11 months of 2017, according to data released on January 10 by the country's top insurance regulator. Premium income reached 3.44 trillion yuan (527.6 billion U.S. dollars) during the January-November period, according to the China Insurance Regulatory Commission. The growth slightly retreated from the 19.91-percent rise in the first 10 months.
China's producer prices dip in December -- China's producer price inflation eased in December on government restrictions for polluting industries, official data showed on January 10. The producer price index (PPI), which measures costs for goods at the factory gate, rose 4.9 percent year on year in December, said the National Bureau of Statistics (NBS). It was down from growth of 5.8 percent recorded in November, according to the bureau. On a monthly basis, it was up 0.8 percent.
China's CPI up 1.8 pct in December -- China's consumer price index (CPI), a main gauge of inflation, rose 1.8 percent year on year in December, slightly up from 1.7 percent for November, data showed on January 10. Previous forecasts from financial institutions fell within the 1.7 percent to 2.1 percent range. The pickup was driven by a fast increase in non-food prices, which rose 2.4 percent year on year, the National Bureau of Statistics said on its website.
China IPO fundraising hits record high in 2017 -- The number and value of IPOs on China's two bourses hit a record high in 2017, according to figures released by a Chinese financial information services company. A total of 438 companies launched IPOs on the Shanghai and Shenzhen stock exchanges in 2017, up 93 percent year on year, according to Wind. The value of IPOs was 230 billion yuan (35 billion U.S. dollars), an increase of 56 percent year on year.
CICC raises China growth forecast to 7 pct for 2018 -- A leading Chinese investment firm raised its forecast for China's economic growth in 2018, citing stronger external demand and strength in consumption and manufacturing investment. The China International Capital Corp. (CICC) raised its forecast for China's 2018 real GDP growth to 7 percent year on year, up from a previous estimate of 6.9 percent, according to a report from the company.
China's cash loan market to shrink in H1 -- The credit balance of China's online lenders will see a notable decline in the first two quarters, weighed on by tightened regulation of Internet microloans, Morgan Stanley said in a report. Chinese banking regulators have rolled out rules to clean up cash loans, or web-based micro lending, to rein in risks in the booming but loosely regulated market, with approval of online micro lenders halted and lending activities rigorously supervised. The micro-lending market has seen explosive growth in recent years, as lending platforms offer easy cash loans to needy consumers. The report estimated total loan balances from online lenders could reach 2 trillion yuan (about 309 billion U.S. dollars) after an 800-billion-yuan increase in 2017.
China revises 2016 GDP down 0.07 pct -- China's statistics authority on January 5 revised its gross domestic product (GDP) for 2016 down slightly by 0.07 percent based on its final verification. The revised GDP was 74.36 trillion yuan (7.52 trillion U.S. dollars), down 54.2 billion yuan from the preliminary verification, the National Bureau of Statistics said on its website. Year-on-year growth was unchanged at 6.7 percent calculated with constant prices, the statement said. Agricultural and industrial sectors were both revised up slightly, whereas the service sector was revised down by 85.6 billion yuan.
China creates 30-bln-yuan fund to spur service trade -- China has launched an investment fund of 30 billion yuan (about 4.6 billion U.S. dollars) to guide the development of the service trade industry. The government-led fund is aimed at facilitating the transformation of China's foreign trade patterns and fostering new growth momentum for the economy.
China's forex reserves up for 11th straight month -- China's foreign exchange reserves rose for the 11th month in a row to 3.14 trillion U.S. dollars at the end of December, data from the central bank showed on January 7. This marked the highest level since September 2016, according to the People's Bank of China. The reserves gained 20.7 billion dollars from a month earlier, faster than the market forecast, which estimated the reserves to stand at 3.13 trillion dollars.
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