CNY News

Profits earned by Chinese industrial enterprises increased in June, figures from the National Bureau of Statistics showed Monday.

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China devalued yuan by the most in two decades to cushion its exports as the economy shows no solid signs of revival after the volatility in the stock market. The bank set the value of yuan at 6.2298 a dollar, 1.9 percent lower than Monday's official fixing rate. This was the biggest one-day loss since 1994, when it unified official rate with market rates.

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Profits earned by Chinese industrial enterprises decreased in July after rising in the previous month, figures from the National Bureau of Statistics showed Friday.

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Chinese manufacturers reported the sharpest deterioration in operating condition in more than six years in August and the service sector expanded at the slowest pace in the current 13-month sequence of growth. The manufacturing Purchasing Managers' Index fell to 47.3 in August, which was the lowest reading since March 2009, survey data from Caixin Insight Group and Markit showed Tuesday.

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China's inflation accelerated in August on soaring food prices, while producer prices fell at the fastest pace since late 2009 largely due to easing commodity prices. Inflation rose to a 12-month high of 2 percent in August from 1.6 percent in July, the National Bureau of Statistics reported Thursday. It was expected to rise to 1.8 percent.

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Home prices in majority of the Chinese cities increased in August, figures from the National Bureau of Statistics showed Friday.

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China posted a merchandise trade surplus of $60.34 billion in September, the Customs Office said on Tuesday.

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China's inflation eased in September, reflecting a slowdown in food inflation, and producer prices extended its downward trend, adding to fears of deflationary pressure amid moderation in economic growth. Consumer price inflation slowed to 1.6 percent in September from a 12-month high of 2 percent seen in August. It was forecast to fall to 1.8 percent.

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China's central bank unexpectedly lowered interest rates and reserve ratio on Friday, in what could be the latest stimulus effort to underpin the economy that is adjusting itself to the 'new normal' of lower growth. The People's Bank of China cut the one-year lending rate and deposit rate by a quarter-point to 4.35 percent and 1.5 percent, respectively. The new rates will take effect on Saturday.

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China's industrial profits dropped marginally in September from a year ago, figures from the National Bureau of Statistics showed Tuesday.

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