China Economic News

CNC
Added On June 13, 2019

 Now let's take a look at some economic news in China.

Up first, China's consumer price index, a main gauge of inflation, rose 2.7 percent year on year in May. 
CHINA'S CPI UP 2.7 PCT IN MAY
The National Bureau of Statistics (NBS) said Wednesday that China's consumer price index (CPI), a main gauge of inflation, rose 2.7 percent year on year in May.
The reading accelerated from the 2.5-percent expansion in April.
According to the NBS, food prices climbed 7.7 percent year on year last month, up from 6.1 percent in April.
Non-food prices gained 1.6 percent, 0.1 percentage points lower than that in April.
The NBS noted that the CPI in urban areas rose 2.7 percent year on year, while that in rural areas went up 2.8 percent compared with a year ago.
CHINA'S PRODUCER PRICES UP 0.6 PCT IN MAY
NBS also said on Wednesday that China's producer price index, which measures costs for goods at the factory gate, rose 0.6 percent year on year in May.
The pace was slower than the 0.9-percent increase recorded in April.
On a monthly basis, producer prices went up 0.2 percent in May, narrowing from the 0.3-percent increase in April.
In the first five months, the index climbed 0.4 percent from the same period a year earlier.
Factory prices of production materials grew 0.6 percent year on year in May, down from the 0.9-percent increase a month earlier.
Consumer goods prices rose 0.9 percent year on year in May, flat with that in April.
CHINA KEEPS STABLE TRADE GROWTH IN FIRST 5 MONTHS
Data from the General Administration of Customs (GAC) show that China's foreign trade registered steady growth in the first five months this year despite growing external uncertainties.
The country's foreign trade of goods rose 4.1 percent year on year in the first five months of 2019 to 12.1 trillion yuan, or about 1.76 trillion U.S. dollars.
Exports increased 6.1 percent year on year to 6.5 trillion yuan during this period, while imports grew 1.8 percent to 5.6 trillion yuan.
Li Kuiwen, director of the GAC's statistics and analysis department, said although faced with the slowdown of global economic growth and international trade, the Chinese economy has continued an overall stable upward trend.
GAC data also showed that China's trade with the European Union surged 11.7 percent year on year in the first five months, while trade with the ASEAN was up 9.4 percent.
China's private businesses reported faster trade growth in this period. The trade volume increased 11.1 percent to 5.02 trillion yuan, accounting for over 40 percent of the total trade volume.