Market updates on July 16
Welcome to Tuesday!
China's industrial revenues leap in October
China's industrial companies withstood a broad government crackdown on financial risks because revenues kept rallying the previous month in a stabilizing force for the world's number two economy that has started cooling moderately for recent months.
The country’s vast industrial sector has been spurred by a year-long as well as government-led construction spree, assisting to raise demand and also prices for building materials and taming higher borrowing costs.
In October, heavy industry and mining contributed to the biggest revenues in October, generating overall industrial revenues by 25.1% year-on-year to about 745.4 billion Yuan versus a 27.7% leap in September, as the National Bureau of Statistics informed on Monday.
Notwithstanding the moderate slowdown, October's surge rate still appears to be the second-highest outcome for a single month in 2017, and overall revenues are on pace to top last year’s record of 6.88 trillion Yuan.
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