CNY News

Bank lending as well as money supply growth in China exceeded expectations in June as Beijing beefed up measures to rejuvenate economic growth into the second quarter. Bank lending increased notably to CNY 1.08 trillion in June from CNY 870.8 billion in May, data published by the People's Bank of China showed Tuesday. Lending was expected to rise moderately to CNY 955 billion.

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China's gross domestic product expanded 7.5 percent on year in the second quarter of 2014, the National Bureau of Statistics said on Wednesday.

That beat forecasts for 7.4 percent, which would have been unchanged from the previous three months.

On a seasonally adjusted quarterly basis, GDP gained an annualized 2.0 percent - also beating expectations for 1.8 percent and accelerating from 1.4 percent in the first quarter.

Industrial production climbed 9.2 percent on year in June, topping forecasts for 9.0 percent and up from 8.8 percent in May.

Retail sales gained an annual 12.4 percent, shy of forecasts for 12.5 percent - which would have been unchanged from the May reading.

Fixed asset investment jumped 17.3 percent on year for the period of January to June. That beat expectations for 17.2 percent, which would have been unchanged from the period of January to May.


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Profits of Chinese industrial firms increased at an accelerated pace in June, a report from the National Bureau of Statistics showed Sunday.

Industrial profit rose 17.9 percent year-over-year in June, following the 9 percent increase in May.

Total industrial profit in the January to June period rose 11.4 percent compared to the corresponding period of the previous year. For the January to May period, profits had increased 9.8 percent.

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The services sector in China slipped to no change in July, the latest survey from Markit Economics revealed on Tuesday in its latest performance of service index - which came in with a score of 50.0.

That's down from 53.1 in June.

A score below 50 signals contraction in a sector, while a reading above 50 means expansion.

Among the individual components of the survey, new order growth accelerated at manufacturers, while new work rose fractionally at service providers.

Input price inflation quickened to eight-month high at the composite level.

The composite index fell to 51.6 from 52.4 in the previous month.

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China posted a merchandise trade surplus of $47.3 billion in July, the Customs Office said on Friday.

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Confidence among Chinese businesses increased in August, the results of a survey by MNI Indicators showed Monday.

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China's economy continued to expand in July at a steady pace, the latest survey from the Conference Board revealed on Tuesday as its leading index added 1.3 percent.

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China's manufacturing sector expanded at a slower than expected rate in August, less than the flash estimate, latest results of a survey by Markit Economics and HSBC Bank showed Monday.

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Consumer prices in China were up 2.0 percent on year in August, the National Bureau of Statistics said on Thursday.

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New home prices in most Chinese cities fell in August, data from the National Bureau of Statistics showed Wednesday.

Average new house prices in 68 out of the total 70 cities declined in August from the previous month.

Property prices in Huizhou and Jinhua dropped the most, by 1.7 percent month-over-month in August.

Prices in major cities like Shanghai and Shenzhen decreased 1.1 percent each. Prices in Beijing dropped 0.9 percent.

On a year-over-year basis, house prices in 19 out of the 70 cities fell in August while prices in 48 cities increased.


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