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News from China
China's CPI up 1.9% in June
10th July 2018

 China's consumer price index, a main gauge of inflation, rose 1.9 percent year on year in June, compared with 1.8 percent in May, data from the National Bureau of Statistics showed Tuesday.

 
On a month-on-month basis, the CPI declined 0.1 percent.
 
Lower prices of fresh fruits and vegetables driven by abundant supply were the major reason for the CPI decline from May, said NBS statistician Sheng Guoqing.
 
Food prices slipped 0.8 percent month on month and climbed only 0.3 percent year on year.
 
The price of pork, China's staple meat, slumped 12.8 percent year on year, dragging down CPI growth by 0.32 percentage point. On a monthly basis, it registered a 1.1-percent increase after a three-month straight decline.
 
Non-food prices rose 2.2 percent from the same period last year, and 0.1 percent from May.
 
China is aiming to keep annual CPI growth at around 3 percent this year, the same as the target for 2017.
 
The producer price index, which measures costs for goods at the factory gate, rose 4.7 percent year on year in June, hitting a six-month high.
 
Source: Shanghai Daily, July 10, 2018
China's CPI up 1.9% in June
10th July 2018

 China's consumer price index, a main gauge of inflation, rose 1.9 percent year on year in June, compared with 1.8 percent in May, data from the National Bureau of Statistics showed Tuesday.

 
On a month-on-month basis, the CPI declined 0.1 percent.
 
Lower prices of fresh fruits and vegetables driven by abundant supply were the major reason for the CPI decline from May, said NBS statistician Sheng Guoqing.
 
Food prices slipped 0.8 percent month on month and climbed only 0.3 percent year on year.
 
The price of pork, China's staple meat, slumped 12.8 percent year on year, dragging down CPI growth by 0.32 percentage point. On a monthly basis, it registered a 1.1-percent increase after a three-month straight decline.
 
Non-food prices rose 2.2 percent from the same period last year, and 0.1 percent from May.
 
China is aiming to keep annual CPI growth at around 3 percent this year, the same as the target for 2017.
 
The producer price index, which measures costs for goods at the factory gate, rose 4.7 percent year on year in June, hitting a six-month high.
 
Source: Shanghai Daily, July 10, 2018
Chinese coastal province braces for typhoon
9th July 2018

 China's eastern coastal province of Fujian has activated an emergency response to cope with approaching typhoon Maria, the eighth typhoon this year.

 
The typhoon is expected to strike Fujian on Wednesday morning, whipping up gales and high waves, according to provincial meteorological authorities.
 
It will bypass or brush northeastern Taiwan early on Wednesday before reaching Fujian, where winds of up to 37 meters per second are expected in coastal areas with waves of up to 6 meters.
 
All fishing boats are ordered to return to harbor by Tuesday noon and all personnel at offshore fish farms are demanded to retreat to land by 6pm.
 
All coastal tourist resorts should also be closed by 6pm Tuesday.
 
Source: Shanghai Daily, July 9, 2018
US has ignited largest trade war in economic history: China's MOC
6th July 2018

 With the 25-percent additional tariffs on Chinese products worth US$34 billion effective on Friday, the United States has ignited the largest trade war in economic history, said a Ministry of Commerce spokesperson.

 
These tariffs violate the World Trade Organization rules and represents a typical "trade bully," posing a grave threat to the security of global industry and value chains.
 
Moreover, it will hamper global economic recovery and trigger global market turmoil while dealing a blow to many multinationals, enterprises and ordinary consumers.
 
Instead of serving the interests of US companies and people, the move will prove to be counter-productive and damaging.
 
The Chinese side, having vowed not to fire the first shot, is forced to stage counter-attacks to protect the core national interests and interests of its people.
 
China will report the relevant situations to the WTO in time, and stand with other countries in defending free trade and multilateral mechanisms.
 
The ministry also reiterates China's unswerving commitment to deepening reform and expanding opening-up, protecting entrepreneurship, strengthening protection of intellectual property rights, and creating a good business environment for foreign-invested companies in China.
 
The MOC will continuously assess the impact on affected companies and take effective measures to offer them support.
 
Source: Shanghai Daily, July 6, 2018

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