China's new yuan loans rise lower than expected -- China's new yuan-denominated lending in December hit 584.4 billion yuan (about 90 billion U.S. dollars), 460 billion yuan less than the same period one year ago, central bank data showed on January 12. The rise in December was much lower than the expected 1 trillion yuan, and the lowest since April 2016. The M2, a broad measure of money supply that covers cash in circulation and all deposits, reached 167.68 trillion yuan at the end of December, up 8.2 percent from a year earlier or 3.1 percentage points down from a year ago, the People's Bank of China said in an online statement.
China's foreign trade up 14.2 pct in 2017 -- China's foreign trade volume rose 14.2 percent year on year to 27.79 trillion yuan (4.28 trillion U.S. dollars), ending the previous continuous drop of the previous two years, official data showed on January 12. China's exports increased 10.8 percent to reach 15.33 trillion yuan while imports surged 18.7 percent to 12.46 trillion yuan in 2017, the General Administration of Customs (GAC) said. The trade surplus continued to narrow last year, shrinking 14.2 percent to 2.87 trillion yuan, compared with a 9.1-percent reduction registered in 2016 that saw 3.35 trillion yuan in trade surplus.
China trade surplus with U.S. widens in 2017 -- China's trade surplus with the United States widened in 2017 while total foreign trade volume maintained rapid growth, customs data showed on January 12. Trade surplus with the United States soared 13 percent year on year to 1.87 trillion yuan (about 288 billion U.S. dollars), according to Huang Songping, spokesperson of the General Administration of Customs. China's trade volume with the United States expanded 15.2 percent in 2017 to 3.95 trillion yuan, accounting for 14.2 percent of the total.
China non-financial ODI drops 29.4 pct in 2017 -- China's non-financial outbound direct investment (ODI) saw a drastic decline in 2017 amid government efforts to curb irrational investment overseas. Chinese investors spent a total of 120 billion U.S. dollars on 6,236 enterprises from 174 countries and regions last year, the Ministry of Commerce (MOC) said in a statement. The year-on-year decline, at 29.4 percent for the whole of last year, narrowed from the 33.5-percent drop for the first 11 months.
China sees burgeoning exhibition economy -- China's exhibition economy is developing at a dynamic pace with the direct economic output expected to hit 600 billion yuan (about 92 billion U.S. dollars) in 2017. According to a report released at the ongoing 14th China Expo Forum for International Cooperation, China held more than 4,000 exhibitions last year, with the exhibition area reaching 134 million square meters.
China's central bank sees net forex sales in December -- China's central bank saw net foreign exchange sales in December after three straight months of net purchases, official data showed on January 15. The People's Bank of China sold 36.3 billion yuan (about 4.6 billion U.S. dollars) worth of foreign exchange last month, the first net sales since the central bank recorded a net purchase for the first time in nearly two years in September.
China's farm produce prices slightly higher -- The price index for China's farm produce rose slightly in the week ending Jan. 14 compared with the previous week, according to a Ministry of Commerce statement. The price index edged up 0.5 percent in the past week, with growth retreating 1.1 percentage points from the rate seen a week earlier. The wholesale price of pork went up 0.5 percent, while the cost of beef and mutton rose 0.5 percent and 0.9 percent, respectively.
China's liquefied natural gas price slumps in Jan. -- The price of liquefied natural gas (LNG) in China saw sharp decline at the beginning of January. In the first ten days of January, the price of LNG stood at 5,613.6 yuan (about 869 U.S. dollars) per tonne, a slump of 22.6-percent compared with the end of December, data from the National Bureau of Statistics showed on January 15.
Macao tourist price index up 0.77 pct in 2017 -- Macao's average Tourist Price Index (TPI) for 2017 rose 0.77 percent year-on-year to 131.87 after two years of decline, the special administrative region's statistics department said on January 15. The latest report issued by the Statistics and Census Service (DSEC) indicated that the increase in 2017 was mainly attributable to rising charges for hotel accommodation and restaurant services, and higher prices of Chinese local food products. Meanwhile, falling prices of clothing and handbags as well as lower airfares tapered off part of the increase.
China's centrally administered state firms report double-digit profit growth in 2017 -- China's centrally administered state-owned enterprises (SOEs) on January 15 reported double-digit growth in business revenues and profits last year. The SOEs supervised by the State-owned Assets Supervision and Administration Commission (SASAC) made a total of 1.4 trillion yuan (about 216.8 billion U.S. dollars) in profit, up 15.2 percent. Total revenue of the centrally administered SOEs was up 13.3 percent to 26.4 trillion yuan in 2017.
Harbin sees growing e-commerce trade with Russia in 2017 -- Harbin in northeast China's Heilongjiang Province saw a good e-commerce business with Russia in 2017, local authorities said. Over 130 cargo charter flights departed Harbin for Ekaterinburg, Russia's fourth largest city last year, an increase of 29 percent, said Harbin Commerce Bureau. The flights carried more than 2,850 tonnes of e-commerce products worth 270 million U.S. dollars, bringing the total value of cargo carried to about 1 billion dollars since the route opened in 2013.
Chongqing becomes largest coffee trade hub in China -- Southwest China's Chongqing Municipality has become the largest coffee trade hub in China, as its volume of coffee trade by the end of 2017 exceeded the amount in Shanghai and Yunnan. Chongqing Coffee Exchange said on January 16 that the volume of trade from June 2016, when the trade center was established, to the end of 2017 in Chongqing hit 13 billion yuan (two billion U.S. dollars). The trade volume of coffee in Chongqing last year reached 9.7 billion yuan, making the inland municipality the largest coffee trade hub in China.
Shanghai financial market turnover rises in 2017 -- Shanghai's financial market grew in 2017 with the overall transactions hitting 1.4 quadrillion yuan (about 220 trillion U.S. dollars), more than 17 percent of the municipality's GDP. Shanghai has a total of 1,537 registered financial institutions dealing in shares, bonds, futures, currencies, insurance, gold and foreign exchange.
China's silicon valley reports revenue growth in first 11 months -- The high and new-tech firms in Beijing's Zhongguancun Science Park reported increased revenue in the first 11 months of 2017, official data showed. The technology park made 4.2 trillion yuan (about 650 billion U.S. dollars) during the period, up 14.2 percent year on year, according to the Beijing Municipal Bureau of Statistics.
A single purchase
