China releases July economic data -- Business -- People's Daily Online
China releases July economic data

10:42, August 11, 2009


In July...

China's CPI falls 1.8% | PPI falls 8.2%;

PMI roses to 53.2% | Power output up 4.8% | Industrial output up 10.8%;

Retail sales up 15.2%;

Urban fixed-asset investment up 32.9% in first seven months;

New lending slows to 355.9 bln yuan;

Exports drops 23% while imports are 14.9% lower;

House prices rise 1%.

· China in dilemma over preventing inflation and deflation

China's CPI and PPI have been dropping, while huge amount of loans has increased worries about possible inflation. China finds itself in a dilemma between preventing inflation and guarding against deflation.

· No change in China's macro-economic policy

“The country's moderately easy monetary policy has played an important role in boosting investors' confidence, enlarging domestic consumption, and inflation should not be a current concern.”

· How far is inflation away from China? - Special

There is inflation expectation fueled by soaring bank loans and housing prices. But the CPI is still low. What will policy makers think of that?

· Railway freight increases for first time in eight months in July

In July, China's railway transportation and operation continued to improve. The total railway freight volume increased by 0.3 percent year-on-year, the first year-on-year increase since November 2008.

· Iron ore imports growth records new high in July

Iron ore imports across China saw this year's biggest increase in July with an estimated 56.5 million tons of imported iron ore, up 35 percent year-on-year and 10 percentage points month-on-month.

· July auto sales confirm China is No. 1

China sold 1.08 million vehicles in July, jumping 64 percent over the same period of last year. China has confirmed its leading position in the world's automobile market.

· Half-year review on performance of ten major domestic industries

Domestic industry has witnessed welcome progresses and maintained a good momentum of fast development thanks to the stimulus package and the plan of revitalizing the ten major industries by the central government.
However, as the financial crisis is still plaguing the global economy, it will take more time for domestic economy to get well back on track, and some trades will probably face more severe challenges in the months to come...

· China's 4 trillion yuan investment structure reasonable

"Not only has the investment achieved some effect, but also its structure is reasonable," Luo Yunyi, director of the Institute of Investment under the NDRC said.

· China urban fixed-asset investment up 33.5% in H1

China's urban fixed-asset investment in the first half year rose 33.5 percent from a year earlier. The figure is 7.2 percentage points higher than the same period of last year.

· SIC: consumption to expand in China in H2 2009

income increase and stimulus policies will further encourage consumers in China to spend more in the second half of the year.

· Still lots to be done to stimulate consumption in China
· Premier Wen stresses expansion of domestic consumption
· Minister: China exports to climb in late 2009

"The pace of decline in China's export shipments is expected to ease later this year while the country's stable yuan policy will help the global economy recover from recession," Commerce Minister Chen Deming said

· SIC: China's foreign trade to improve in H2
· Report: China's foreign trade to face bumpy road in 2009
· Less trade but more disputes in crisis? - Special

Since the breakout of the global financial crisis, China's trade disputes have been growing while its trade value slumps.
China has no choice but learning to deal with those disputes. Under the mounting protectionism shadow, will China take a tit-for-tat attitude or seek settlement in the WTO frame work?

· WTO: World trade volume to decline 10% in 2009
· Chinese home prices rise 1.0% in July

Home prices in 70 large and medium-sized Chinese cities nationwide grew 1.0 percent in July from a year earlier. The prices also climbed 0.9 percent from June.

· Property prices witness biggest increase in nine months
· Real estate: bubble or boom? - Special

In the first half of 2009, China's real estate industry picked up after more than a year of decline and showed a clear trend of recovery. Both newly constructed and second-hand housing saw accelerating price hike. What drives housing prices? Is there a bubble forming?

· Premier Wen reiterates adherence to proactive fiscal, moderately easy money policies

"China would maintain both its proactive fiscal and moderate monetary policies, and work on economic restructuring to strengthen recovery from the global downturn."

· Minor adjustment to be made on China's monetary policy
· Are Chinese banks lending too much? - Special

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