China's capital goods, retail sales, up in July................
cei.gov.cn
July Figures Show Steady Economic Growth
China's July investments in fixed assets surged by 22.8 percent on the same period last year, up 6.5 percentage points on the June figure, according to a release issued by the State Statistics Bureau (SSB) on August 14.
Retail sales for the period hit 228.6 billion yuan, up 8.1 percent on a year-on-year basis and 1.3 percentage points higher than the June figure. During the January-July period, total fixed asset investments for the January-July period hit 736.2 billion yuan, up 15.6 percent on the 1997 period, with the growth rate for retail sales ending the period at seven percent. The SSB attributed lower industrial growth during July to heavy flooding in southern parts of the country.
The incremental industrial output for July rose by 7.6 percent to 155.3 billion yuan, a drop of 0.3 of a percentage point on the previous month. The July growth rate for exports increased slightly, with a continuing fall in the rate for imports. July exports worth 16.2 billion US dollars represented a 3.5 percent rise form the same period last year, with imports falling by 6.4 percent to 12 billion US dollars. The SSB also indicated a continual drop in the inflation rate, with the July retail price index dropping by 3.2 percent and the consumer price index by 1.4 percent from the same month in 1997. The January-June retail price index fell by 2.2 percent and the the consumer price index dropped by 0.4 percent, compared with the same period in 1997.
China Economic Information(08/17/98)
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