Chinese stocks surge Tuesday despite weak GDP data

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- Chinese shares soared on Tuesday and regained the 3,000-point mark, although new GDP data hit a 25-year low.
The Shanghai index gained 3.22 percent to close at 3,007.74 points. The smaller Shenzhen index climbed 3.41 percent to close at 10,501.79 points.
The ChiNext Index, the NASDAQ-style board of growth enterprises, surged 3.07 percent to close at 2,241.7 points.
Total turnover on the two bourses stood at 583.2 billion yuan (88.91 billion U.S. dollars).
Gainers outnumbered losers 990 to 8 in Shanghai and 1,541 to 14
in Shenzhen.

Investment ebbs, consumption advances for China economy

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- Investment in the Chinese economy continued to ebb amid government efforts to destock and cut overcapacity, while fresh drivers like consumption and the service sector become more robust.
The annual growth of China's urban fixed-asset investment, once a key driver of the economy, continued to cool in 2015 to 10 percent year on year, down from 15.7 percent in 2014, official data showed on Tuesday.

China 2015 crude steel output falls 2.3 pct

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- China's annual crude steel output dropped for the first time since 1981 as the industry struggled with persistent overcapacity, official data showed on Tuesday.
Crude steel output fell 2.3 percent year on year to 803.83 million tonnes in 2015, according to the National Bureau of Statistics.
Industrial overcapacity in sectors like steel and cement has become a major drag on the broader economy, which grew 6.9 percent year on year in 2015, the slowest annual expansion in a quarter of a century.

China's economic structure improves with robust services

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- China's economic restructuring made landmark progress in 2015 as the service sector created more than half of GDP for the first time ever, official data showed Tuesday.
The service sector contributed 50.5 percent to the country's GDP in 2015, up from 48.1 percent in 2014, according to the National Bureau of
Statistics (NBS).

China's growth hits 25-year low, within official target

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- China's economy grew 6.9 percent year on year in 2015, the slowest annual expansion in a quarter of a century, but it is still in line with the official target, according to data from the National Bureau of Statistics (NBS) on Tuesday.
Growth in the fourth quarter came in at 6.8 percent year on year, the lowest quarterly rate since the global financial crisis, the data showed.
The Chinese government targeted an annual economic growth of around 7 percent for 2015.

China's industrial output growth slows

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- China's value-added industrial output, an important economic indicator, grew 5.9 percent year on year in December, down from the 6.2-percent growth recorded in November, official data showed
on Tuesday.
Year-on-year growth for 2015 was 6.1 percent, lower than the 8.3-percent growth in 2014, the National Bureau of Statistics (NBS) said.
December industrial production growth was weaker than market expectations of 6 percent, but in line with Nomura's forecast, according to a Nomura Securities report to clients.

Farewell to GDP obsession shows resolve for real reforms

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- The 6.9 percent GDP growth rate reported for 2015 falls within the "about seven percent" target set last March, underscoring the government's sophisticated insight and management of economic performance.
China's weakest full-year growth in a quarter of a century should not be deemed as a setback, but a rebalancing act for a more vibrant comeback.

Chinese personal income rises 7.4 pct in 2015

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- China's national per capita disposable income stood at 21,966 yuan (3,349 U.S. dollars) in 2015, up 7.4 percent from 2014 in real terms, outpacing GDP growth, official data showed Tuesday.
Separately, urban per capita disposable income and rural per capita net income reached 31,195 yuan and 11,422 yuan respectively in 2015, up 6.6 percent and 7.5 percent in real terms after adjusting for inflation from 2014, according to the National Bureau of Statistics (NBS).

China 2015 fixed-asset investment growth cools

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- The annual growth of China's urban fixed-asset investment continued to cool in 2015 to 10 percent year on year, down from 15.7 percent in 2014, official data showed on Tuesday.
The reading was slightly down from the 10.2-percent growth for the first 11 months of 2015, the National Bureau of Statistics (NBS) said.
This is the latest step in continued deceleration of growth for fixed-asset investment, money used to purchase and build factories, machines, property and other fixed facilities.

Services more than half of China 2015 GDP

1月 19, 2016

BEIJING, Jan. 19 (Xinhua) -- China's service sector contributed 50.5 percent to the country's GDP in 2015, up from 48.1 percent in 2014, official data showed Tuesday.
The ratio, which has continued growing over the last two decades,exceeded 50 percent for the first time, indicating China's economic restructuring has made progress, according to the National Bureau of Statistics (NBS).
Factory contribution to the GDP was 10 percent lower than services as the Chinese government tried to shift from investment powered growth to innovation led expansion.

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