Consumers select food at a market in Shenyang, capital of northeast China's Liaoning Province, Aug. 9, 2014. China's consumer price index (CPI), a main gauge of inflation, grew 2.3 percent year on year in July, in the same pace with a month earlier, official data showed Saturday. (Xinhua/Yang Qing)
BEIJING, Aug. 9 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, grew 2.3 percent year on year in July, the same pace as a month earlier, official data showed on Saturday.
The growth rate was also the same as that of the first half of this year, showing stable pricing in the world's second-largest economy, according to the National Bureau of Statistics (NBS).
In July, inflation grew 2.4 percent in urban areas and 2.1 percent in rural areas, NBS data showed.
Food prices, which account for about one third of the weighting in the CPI calculation, grew 3.6 percent year on year in July, down from 3.7 percent in June.
The Chinese government aims to hold consumer inflation at around 3.5 percent this year.
Yang Hongxu, deputy head of the Shanghai-based E-House China R&D Institute, said the July inflation was "in a very comfortable range."
"Residents will feel the pain if inflation goes too high, but the economy and companies will suffer if it is too low. CPI at about 2 percent is an ideal level," Yang said.
The cooling housing market would also be conducive to ensuring steady consumer prices, he added.
Residential prices, which cover those for rent, utilities and building materials, grew by 2 percent year on year amid a weakening property sector.
NBS data showed that growth in property development investment slowed to 14.1 percent in the first half from 20.3 percent in the same period of 2013, and housing sales dropped 6 percent year on year in the first six months.
China's July PPI down 0.9%
BEIJING, Aug. 9 (Xinhua) -- China's producer price index, which measures inflation at wholesale level, dropped 0.9 percent year on year in July, the National Bureau of Statistics said Saturday.Full story
China Voice: Recovery beats expectations but risks still lie ahead
BEIJING, Aug. 4 (Xinhua) -- Chinese decision-makers may breathe a sigh of relief as more macro indicators suggest the economy is recovering stronger than market expectations, despite concerns that an unprecedented anti-corruption drive has weighed on growth.
Both the official and HSBC manufacturing purchasing manager's index (PMI)- a key measure of factory activity in China - reports for July showed signs of positive recovery. Full story
China's non-manufacturing PMI retreats in July
BEIJING, Aug. 3 (Xinhua) -- Business activity in China's non-manufacturing sector slightly slowed in July, an official monthly survey showed on Sunday.
The Purchasing Managers Index (PMI) of the non-manufacturing sector came in at 54.2 percent in July, down 0.8 percentage points from June, according to a report jointly released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing (CFLP).Full story
Xinhua Insight: China's exports beat forecast, surplus sets record
BEIJING, Aug. 8 (Xinhua) -- China's export volume was stronger than expected in July due to recovering external demand, with the monthly trade surplus hitting an all-time high, according to customs data published on Friday.
Last month, exports surged 14.5 percent from the previous year, reaching 212.9 billion U.S. dollars, while imports dropped 1.6 percent to 165.6 billion U.S. dollars, the General Administration of Customs (GAC) said in a statement. Full story
HSBC China data shows continually improving economy
BEIJING, July 24 (Xinhua) -- HSBC China's reading of the country's manufacturing purchasing managers' index (PMI) has risen to its highest point since the start of 2013, adding to signs of national economic improvement.
HSBC's flash PMI figure for July is 52 points, up from 50.7 for June and 49.4 for May and higher than all HSBC final readings since January 2013, the bank announced on Thursday. Full story