Biz China Weekly

CNC
Added On July 9, 2019

SERVICE TRADE

Data showed China's service trade climbed 3.5 percent year on year to about 318.8 billion U.S. dollars in the first five months of the year.
 
According to data from the Ministry of Commerce (MOC), service exports rose 10.3 percent to hit 777 billion yuan, or about 113.1 billion U.S. dollars during the period, while that of imports gained 0.1 percent to 1.41 trillion yuan, or about 204.6 billion U.S. dollars, down 10.1 percent from a year earlier.
 
CONSUMPTION GROWTH
 
A commerce official said China's consumption growth is expected to reach 8.2 percent in the first half of the year, remaining at medium-high speed.
 
MOC said China's consumption market has maintained overall stability so far this year, with the total retail sales of consumer goods up 8.1 percent year on year in the January-May period.
 
HOME PRICES
 
According to a report from the China Index Academy, China's home prices stayed largely stable during the first half of the year.
 
Average home prices in 100 cities monitored by the academy rose 1.45 percent in the first six months, slowing from 2.64 percent a year ago.
INTERNET FIRMS
 
Official data showed China's major Internet firms reported double-digit growth in combined revenue in the first five months.
 
According to the Ministry of Industry and Information Technology, companies above the designated size in Internet and related sectors raked in 428.2 billion yuan, or about 62.3 billion U.S. dollars from January to May, up 19.4 percent year on year.