China's economic development zones see steady trade growth in 2017 -- China's national economic development zones reported steady trade growth in 2017, according to the Ministry of Commerce. The trade volume of the 219 national economic development zones reached 5.6 trillion yuan (875 billion U.S. dollars) last year, up 17.5 percent year on year, according to MOC spokesperson Gao Feng. Exports stood at 3.2 trillion yuan last year, up 17 percent year on year and 6.2 percentage points higher than the national average growth.
Chinese mainland's overseas portfolio investment hits 498 bln USD -- The Chinese mainland's overseas portfolio investment rose last year, with Hong Kong being the prime destination, official data showed. At the end of last year, the mainland's overseas portfolio investment assets (excluding reserve assets) were worth 498 billion U.S. dollars, up from 360 billion dollars at the end of 2016, according to the State Administration of Foreign Exchange. Of the total, 304 billion dollars were held in equity investments while the remaining 194 billion dollars flowed into bond investment.
China's insurance premium income drops in January-April -- China's insurance sector saw premium income drop 7.8 percent year on year to 1.7 trillion yuan (about 260 billion U.S. dollars) in the first four months of the year, according to official data. The decline came as authorities enhanced regulation of the sector to defuse financial risks. Property insurance firms posted a 16.1-percent increase, but life insurance companies registered a 13.6-percent dip, data from the China Banking and Insurance Regulatory Commission showed.
China's housing provident fund deposit up 17.7 pct in 2017 -- Total deposit of China's housing provident fund reached 12.5 trillion yuan (3 trillion U.S. dollars ) by the end of last year, up 17.7 percent year on year, official data showed. Annual deposit grew 13.1 percent year on year to 1.9 trillion yuan in 2017, marking a five-year straight double-digit growth, according to a report released by the Ministry of Housing and Urban-rural Development, the Ministry of Finance and the People's Bank of China.
China QFII quota at 99.46 bln USD -- A total of 287 overseas institutions have received quotas amounting to 99.46 billion U.S. dollars under China's Qualified Foreign Institutional Investors (QFII) program to move money into the country's capital account, according to data from the State Administration of Foreign Exchange. As of May 30, the quota in the RMB Qualified Foreign Institutional Investors (RQFII) program came in at 616 billion yuan (96 billion U.S. dollars).
Taiwan's manufacturing output up in Q1 -- The production in Taiwan's manufacturing sector expanded for the sixth consecutive quarter, in the first quarter of the year, the island's economic authority said on June 4. The total production value was 3.31 trillion new Taiwan dollars (about 111.3 billion U.S. dollars), up 3.3 percent from a year earlier.
China's service trade continues to grow -- China's service trade surged 11.9 percent year on year in the first four months of this year, up from 11.4 percent in Jan.-March, the Ministry of Commerce (MOC) said on June 5. The total value of exports and imports in the service sector stood at 1.67 trillion yuan (about 261 billion U.S. dollars), according to the MOC. Exports of trade in services rose 13 percent to 552.61 billion yuan, while imports climbed 11.4 percent to 1.1 trillion yuan, resulting in a deficit of 560 billion yuan.
Services PMI hits four-month high in May -- The Caixin services Purchasing Managers' Index reached a four-month high of 52.9 in May, indicating stable economy and strong corporate confidence in the world's second-largest economy.
The composite PMI compiled by Caixin Media stood at 52.3 in May, unchanged from in April. (Source: China Daily)
Chinese Renminbi rose to 1.66 pct in international payments in April -- Payment made by the Chinese Renminbi weighed 1.66 percent in the international payment market in April, rising 0.04 percentage point from that in the previous month, according to the latest data released by the Society for Worldwide Interbank Financial Telecommunications (SWIFT) on May 30. The RMB’s ranking in the international payment remained at the sixth place in April, according to SWIFT.
Sales of heavy trucks hit record high in May -- China sold 114,000 units of heavy trucks in May, an increase of 17 percent year on year, hitting a monthly record high for the fourth time from the beginning of this year, www.cs.com.cn reported on June 4. From January to May, China cumulatively sold 560,200 units of heavy trucks, up 15 percent year on year.
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