Property Market Drags Down Non-Manufacturing PMI
China's non-manufacturing purchasing managers' index shed 1.9 points from a month earlier to 56.1 in April due in part to a lackluster real estate market, the National Bureau of Statistics said.
Gross Wage Up 24.4% in Q1
China's gross wage jumped 24.4% year on year to ¥1.53 trillion in 2012, according to the National Bureau of Statistics. The gross wage paid by state-owned enterprises was up 15.3% to ¥751 billion during the period.
Railways Ministry Posts ¥7b Loss in Q1
China's powerful Ministry of Railways reported ¥6.98 billion in losses in Q1 2012 and ¥4.01 trillion in assets and ¥2.43 trillion in liabilities as of the end of March. Loans as a percentage of its funding sources have risen 4.2 percentage points from six months earlier to 66.8%.
$1 = ¥6.27