China's Economy Cools to 10-Quarter Low
China's economy expanded by 8.9% from a year earlier in Q4 2011, down from 9.1% in the previous quarter and marking the slowest pace in 10 quarters, the National Bureau of Statistics said. Gross domestic product grew 9.2% to ¥47.16 trillion in 2011, and is expected to grow 8.2% in 2012.
Industrial Output Slows in 2011
China's industrial output expanded 12.8% in December, where output from light industries was up 12.6% and output from heavy industries was up 13%, the National Bureau of Statistics said. Industrial output for 2011 grew 13.9%, down from 15.7% in the year before.
Fixed Asset Investment Up 24% in 2011
China's urban fixed asset investment rose 23.8% to ¥30.19 trillion in 2011, the National Bureau of Statistics said. Fixed asset investment in the primary sector was up 25% to ¥679.2 billion; fixed asset investment in the secondary sector was up 27.3% to ¥13.23 trillion; and fixed asset investment in the tertiary sector was up 21.1% to ¥16.29 trillion.
Average Urban Disposable Income Grows to ¥21,810
China's urban disposable income rose 14.1% to ¥21,810 per person in 2011, the National Bureau of Statistics said. The growth will moderate to 8.4% if food price hikes are accounted for.
Shanghai Bourse Not Ready for Int'l Board: Mayor
The Shanghai Stock Exchange will the delay the launch of its international board as the time is not right, Shanghai Mayor Han Zheng said, without giving a reason or a timetable. The city will instead start an over-the-counter exchange soon, he said. Shanghai together with Shenzhen constitutes the world's third biggest equity market.
Appliance Output Value to Exceed ¥1t in 2011
Output from China's household appliance manufacturing industry is projected to grow 17% to ¥1.1 trillion in 2011, according to the China Household Electrical Appliances Association. The industry may have exported $47 billion worth of goods during the past the year, also up 17% from 2010.
$1 = ¥6.33