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Uptrend, changing habits mark retail sales By ZHANG YUE | CHINA DAILY | Updated: 2021-07-16 09:03 Share CLOSE A shopper buys vegetables at a supermarket in Nanjing, capital of East China s Jiangsu province. SU YANG/FOR CHINA DAILY China s consumption further consolidated in the first half of this year as domestic demand firmed up while restrictions hampering travel and buying activities were gradually removed, which helped modify consumers buying habits in the aftermath of the initial outbreaks of the COVID-19 epidemic, experts said. Data released by the National Bureau of Statistics on Thursday showed that China s retail sales of consumer goods jumped 23 percent year-on-year in the first half of this year, with two-year average growth standing at 4.4 percent, 0.2 percentage point higher than that in the first quarter. ....
Ratio cut seen aiding small biz, real economy By ZHANG YUE | China Daily | Updated: 2021-07-13 09:28 Share CLOSE An employee supervises the production line of plastic packing materials at a small company in Lianyungang, Jiangsu province. [Photo by Geng Yuhe/For China Daily] Last week s announcement of 50 basis points cut in China s reserve requirement ratio for eligible financial institutions is likely to further boost lending to the real economy, smaller businesses in particular, and stoke growth in the second half of this year, experts said. Their comments over the weekend were a response to Friday s RRR cut by the People s Bank of China, the central bank, effective Thursday onward. ....
July 07, 2021 Pexels With international travel off the cards and cinemas intermittently closed, young Chinese like Jiang Tang have been spending more time entertaining themselves online since the coronavirus pandemic hit. When not at home, scores of young people gather during the evening at milk tea cafes to play online games in the southern city of Guangzhou. “To attract young consumers, the cafes are equipped with fast internet speed and are rushing to launch one-litre packages of drinks and snacks that cost about 50 yuan (S$10.41) per person,” said Jiang, a 27-year-old administration executive. The trend towards online entertainment has helped dash hopes of post-pandemic “revenge spending ” in the mainland and highlighted continued sluggish consumption in the world’s second largest economy. ....
Industrial firms profits indicate robust recovery By ZHANG YUE | CHINA DAILY | Updated: 2021-06-28 06:59 Share CLOSE An employee polishes steel products at a Baowu Steel production facility in Maanshan, Anhui province, on March 5. LUO JISHENG/FOR CHINA DAILY China s major industrial enterprises steady profit increases in the first five months of the year show the country s economy is on the right road to recovery, officials and experts said. However, targeted policy support will be needed to help downstream industries and smaller businesses cope with rising costs and ensure sound economic fundamentals. Figures released by the National Bureau of Statistics on Sunday showed that profits for China s major industrial enterprises rose 83.4 percent year-on-year in the first five months to over 3.42 trillion yuan ($530 billion). Major industrial companies refer to those with an annual busines ....