Premium Incomes Climb 19% in Feb
China's premium incomes rose 18.9% year on year to ¥327.89 billion in February, including ¥246.06 billion from life insurance policies and ¥81.83 billion from property insurance policies, which were up 3.8% and 14.9% year on year respectively.
Manufacturing Tipped to Continue Contraction
China's manufacturing may contract for a fifth month in March as a preliminary gauge by HSBC reads 48.1 compared to a final reading of 49.6 in the previous month. This will make the case for taking bold actions to maintain growth. A result below 50 indicates a contraction.
Lending at Major Banks Remains Sluggish
China's top four state-owned banks made ¥64 billion in Renminbi-denominated loans and saw their combined deposits decrease ¥110 billion in the first half of March, an employee of one of the banks told the 21st Century Business Herald.
China's Economy to Grow 8.4%, Inflation Capped at 3%: JPMorgan
China's gross domestic product will grow 8.4% and the government will be able to keep inflation under 3%, predicted Zhu Haibin, chief economist at JPMorgan Chase & Co China.
Logistics Costs Up 12.3% Through Feb
China's logistics costs grew 12.3% year on year to ¥1.3 trillion in the first two months of 2012, according to the China Federation of Logistics and Purchasing.
Online Gaming Revenue Nears ¥43b
Revenue from China's online gaming market totaled ¥42.85 billion in 2011, where ¥27.15 billion were generated from homegrown games, according to figures from GPC and IDC.
China, Australia Signs ¥200b Currency Pact
China and Australia have sealed a ¥200 billion currency swap deal for the next three years to solidify cooperation in finance and trade, the central bank said.
$1 = ¥6.31