Market updates on July 16
Welcome to Tuesday!
China's August industrial revenue surge accelerates as commodity prices leap
In August, annual revenues at China's industrial companies inched up 24%, speeding up from last previous month, thus proving that economic surge remains in good heart notwithstanding signs of receding momentum following a firm first half.
The positive earnings happens to be another sweetener for Chinese government because it actually focuses on stripping out financial risks from the period of debt-fueled surge and keeping the national economy on a firm footing ahead of an important party meeting next month.
August’s revenues soared 24% hitting 672 billion Yuan, the greatest percentage leap since the January-Feb period, as the National Bureau of Statistics reported on Wednesday. Apparently, annual revenues surge turned to be 16.5% in July.
For the first eight months of 2017, the companies reported revenues of up to 4.92 trillion Yuan, which is a leapt of 21.6% from the same period of 2016, picking up moderately from the 21.2% annual surge in the January-July period.
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