China’s urban fixed-asset investment rose to 27.3 percent in the first seven months from 26.8 percent in the first half, the National Bureau of Statistics said yesterday.
The amount of FAI in the January-July period settled at 7.2 trillion yuan (US$1.05 trillion), fueled by reconstruction work in Sichuan Province after the May 12 earthquake, analysts said.
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China Shenhua Energy Co has agreed to pay A$300 million (US$261 million) for a coal exploration license in Australia. It reported a 17.4-percent growth in July output.
Shenhua, the world’s most valuable coal producer, will explore an area of 190 square kilometers near Gunnedah in New South Wales, where there are thought to be shallow thermal coal resources.
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Slovenia is looking to boost bilateral trade with China and attract more Chinese investment, Slovenia’s Minister for the Economy Andrej Vizjak said yesterday in Shanghai.
“The bilateral economic relations between Slovenia and China are on a positive path. In Slovenia we are noticing a growing interest in doing business with China,” said Vizjak during the Slovenia-Shanghai Economic Forum.
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China’s Hebei Zhongxing Automobile Co is seeking to end its partnership with Chamco Auto after internal wranglings at the United States importer.
“Chamco has been involving in a series of legal battles and failed to provide us with detailed proposals,” said a Zhongxing official surnamed Chen yesterday. “This made us feel it would be hard to continue our future cooperation.”
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The growth of China exports to the United States, the country’s second biggest trading partner, slowed in the first half, the General Administration of Customs said on its website on Thursday.
China exports stateside in the first six months totaled 116.79 billion U.S. dollars, up 8.9 percent from the same period last year. The growth rate was 9 percentage points lower than a year earlier.
China Customs said the slowdown in the wake of the economic crisis sparked by the U.S. subprime mortgage disaster had played a negative part. A stronger Chinese currency, the renminbi (RMB), also contributed to the declining export volume.
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The industrial output of Chinese enterprises with annual sales above 5 million yuan (728,608 U.S. dollars), was up 14.7 percent in July. The growth rate, however, was down 3.3 percentage points year on year, National Bureau of Statistics (NBS) figures revealed on Thursday.
The industrial output was also down 1.3 percentage points month on month, according to NBS.
Zhu Baoliang, State Information Center deputy director, said the global economic slowdown had reduced demand for exports, the major reason why the industrial growth had dipped in the country.
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