China’s economy shows slowing signs in July, but remains on steady recovery path

China’s economic growth slowed down in July, with several key indicators, including retail sales and industrial production, falling short of market expectations, underscoring the multiple constraints the economy faces – ranging from the sudden Delta variant outbreak and floods, to a spike in bulk commodity prices and flattening overseas demand. Following the weaker-than-expected data, the State Council, China’s cabinet, also

China will promote consumption recovery, maintain steady economy: State Council

China will promote steady growth in consumption, take more effective measures to open up to boost foreign trade and investment, and maintain steady economic performance, Premier Li Keqiang said at a State Council executive meeting on Monday. During the meeting, Li stressed that all regions should implement policies to strengthen cross-cycle adjustment in light of new economic conditions. Since mid-July,

China’s home price rises 0.3% in July, slowest gain in 6 months

China’s new home prices in major cities rose 0.3 percent month-on-month in July, the lowest gain in six months amid new government measures controlling property prices, according to data released by China’s National Bureau of Statistics (NBS) on Monday. That compared with 0.41 percent rise in June. Meanwhile, prices in the secondary property market rose 0.11 percent in June, the

Zhejiang releases government transparency index report

Recently, Zhejiang released the “Zhejiang Government Affairs Transparency Index Report (No. 3)”, which analyzed the government affairs transparency index of 135 units from 39 provincial-level departments, 11 districted city governments and 85 county governments. Among them, the Provincial Health Commission, Hangzhou Municipal Government, and Ningbo Jiangbei District Government took the lead in the provincial departments, district governments, and county governments

The Import and Export Value of Hangzhou Increases 7 Months in a Row

The data released by Qianjiang Customs yesterday reveals that the import and export value of Hangzhou has kept increasing 7 months in a row, showing a strong momentum and stability. The total import and export value of Hangzhou from January to July reaches 405.37 billion yuan, increasing by 26.0% compared to last year. Thereinto, the export value reaches 251.28 billion

Hangzhou’s Unique Bronze Carving Workshop Ends Successfully, Passing down Traditional Culture

The achievement exhibition of the second bronze carving workshop, under the theme of “Craft Masters and Their Apprentices”, was held on the morning of 13th August. Works of 25 workshop members from all over China were exhibited, sharing what they’d learnt during the past month. Bronze carving is a traditional cultural craft with a history of thousands of years. The

China’s GDP softens in July, but yearly growth to reach more than 8%: analysts

China’s economy growth slowed down in July, but a number of key economic indicators improved and maintained steady expansion, verifying the resilience of the world’s second largest economy in face of challenges, ranging from the abrupt Delta variant outbreak, serious flooding in parts of the country, and a spike in bulk commodity prices. Analysts predicted that the fallout of cluster

Guangdong foreign trade climbs for nine consecutive months

According to Guangdong Sub-Administration of Customs, in the first seven months of this year, exports grew by 20.8% to RMB 2.72 trillion, and imports climbed to RMB 1.77 trillion with a 20.1% growth. And it was 15.3% and 15.1% growth for exports and imports respectively, compared with the pre-pandemic level in 2019. Guangdong has also kept up its long-standing cooperation

Chinese test kit suppliers shine amid global battle against Delta

Chinese COVID-19 test kit producers are ramping up efforts to provide the world with much-needed test kits amid a new round of outbreaks across the globe ignited by variants such as Delta, further highlighting the crucial role Chinese companies play in the world’s epidemic prevention and control efforts. The Delta variant, which is renowned for its faster transmission and severe

China’s FDI inflow up 25.5% y-o-y from Jan to Jul, continuing positive momentum

China’s actual use of foreign capital continued its growth momentum soaring by 25.5 percent year-on-year to 672.19 billion yuan ($103.69 billion) over the first seven months of 2021, data from the Ministry of Commerce showed on Friday. The amount represents an increase of 26.1 percent from 2019, in a pre-pandemic environment, said the ministry. The expansion of foreign direct investment