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Biz China Weekly: FDI, fiscal revenue, fixed-asset investment, industrial output, job market

Source: Xinhua| 2019-08-17 20:22:38|Editor: Li Xia
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BEIJING, Aug. 17 (Xinhua) -- The following are the highlights of China's key business news from the past week:

FDI, ODI

Foreign direct investment (FDI) into the Chinese mainland expanded 7.3 percent year on year to 533.14 billion yuan (about 75.82 billion U.S. dollars) in the January-July period, the Ministry of Commerce (MOC) announced Tuesday.

China's non-financial outbound direct investment (ODI) in 153 countries and regions amounted to 432.92 billion yuan in the first seven months of the year, up 3.3 percent year on year, according to MOC Thursday.

FISCAL REVENUE

China's fiscal revenue increased 3.1 percent year on year to over 12.56 trillion yuan in the first seven months of 2019, the Ministry of Finance showed Friday.

The country's central government collected more than 6.04 trillion yuan during the period, up 3.3 percent year on year, while local governments saw fiscal revenue up 3 percent to about 6.52 trillion yuan.

FIXED-ASSET INVESTMENT

China's fixed-asset investment grew 5.7 percent year on year in the first seven months of 2019, 0.1 percentage points lower than the growth in the first half-year, the National Bureau of Statistics (NBS) showed Wednesday.

Fixed-asset investment amounted to 34.89 trillion yuan in the first seven months.

Private-sector investment rose 5.4 percent year on year to 21.03 trillion yuan, and the growth rate is 0.3 percentage points lower than that in the first six months.

INDUSTRIAL OUTPUT

China's value-added industrial output, an important economic indicator, expanded 4.8 percent year on year in July, the NBS said Wednesday.

The growth rate was 1.5 percentage points lower than that recorded in June.

On a monthly basis, the industrial output edged up 0.19 percent from June.

RETAIL SALES

China's retail sales of consumer goods rose 8.3 percent year on year in the first seven months of the year, the NBS showed Wednesday.

The growth dipped from an increase of 8.4 percent registered in the first six months.

In July alone, retail sales climbed 7.6 percent from one year earlier, with the pace of growth down 2.2 percentage points from June.

JOB MARKET

China's job market remained generally stable in the first seven months of the year, with the number of newly created jobs achieving 79 percent of this year's target.

A total of 8.67 million new urban jobs were created during the January-July period, according to the NBS Wednesday.

The surveyed urban unemployment rate rose 0.2 percentage points to 5.3 percent last month, the NBS data showed.

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