Manufacturing Still in Contractionary Territory
China's manufacturing activity may contract for a sixth month as HSBC's purchasing managers' index for the nation read 49.1 in early April. The index's final reading for March was 48.3, the second lowest level in three years.
Telecoms Revenue Grows 10% in Q1
China's revenue from telecommunications services grew 10.2% year on year to ¥250.5 billion in Q1 2012, the Ministry of Industry and Information Technology said. Telecommunications fees dropped 6.1% year on year during the quarter. The number of mobile service subscribers amounted to 1.02 billion, including 152.06 million 3G service users, as of the end of March 31, 2012.
30m Vehicles to Be Sold in China by 2015
China's rapid industrialization and urbanization will help auto sales total 30 million units per year by 2015 and 40 million units per year by 2020, the China Association of Automobile Manufacturers predicted.
$1 = ¥6.3