Related News
China’s business activity better than expected
Online Edition
CHINA’S real business activity performed better than expected in August, providing fresh evidence for a strengthened economy.
Industrial production rose 10.4 percent year on year last month, picking up from the pace of 9.7 percent in July and 8.9 percent in June. It was led by the steel sector, indicating that railway and property investment has warmed up, the National Bureau of Statistics said this afternoon.
Fixed-asset investment grew 20.3 percent to 26.2 trillion yuan (US$4.2 trillion) in the first eight months, up 0.2 percentage point from the prior reading in the first seven months and slightly above market expectations, the bureau’s data showed.
Retail sales, an indication of China’s consumer demand, edged up 13.4 percent to 1.88 trillion yuan last month, faster than the increase of 13.2 percent in July.
China’s gross domestic product expanded 7.5 percent from a year earlier in the second quarter, and the economy has exhibited signs of stabilization in the past two months.
The strengthened performance was in part due to supportive measures, including tax reduction for small companies, more investment in railway and other infrastructure construction as well as less red tape for exporters. They have been adopted to strike the balance between short-term growth stability and medium-term risk mitigation.
JP Morgan has revised its projection of third-quarter growth to 7.6 percent year on year, bringing the whole year’s projections to 7.6 percent, up from 7.4 percent previously.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
