China's Manufacturing Heads for 7th Month of Contraction
China's manufacturing will probably contract for a seventh month in May as HSBC's preliminary purchasing managers index for the nation reads 48.7. The final reading was 49.3 in April. If confirmed, this will mark the longest streak since 2008 that the gauge remained below 50, a critical point dividing expansion from contraction.
China's 3G Users Near 159m
Revenue from China's telecommunications services rose 10.1% year on year to ¥339.05 billion during January-April, where revenue from mobile services was up 12.9% to ¥246.13 billion, the Ministry of Industry and Information Technology said. The nation added 43.8 million new mobile service users during the four month period, including 30.55 million 3G service users, taking the total numbers to 1.03 billion and 158.97 million respectively.
Premium Incomes Total ¥592b Jan-Apr
Premium incomes in China amounted to ¥592.21 billion in the first four months of the year, including ¥417.67 billion from life and casualty insurance and ¥174.54 billion from property insurance, according to the China Insurance Regulatory Commission. No comparison was made to historic data.
$1 = ¥6.34