China Economic Watch: Aviation Profits Rebound Strongly in Jul; Corn Output Forecast Lowered

Aviation Profits Rebound Strongly in Jul
Profits from China's civil aviation industry grew 10% year on year to ¥6 billion in July as fuel prices dipped 12% during the month, the Civil Aviation Administration of China said. The amount almost trebled the ¥2.15 billion profit recorded the month before. Passenger and cargo traffic totaled 29.95 million people and 437,500 tons in July, up 9.6% and down 3.4% respectively from a year ago.

China Cuts Corn Output Forecast
China revised down the forecast for its corn production this year by half a million tons to 197 million tons, which would be up 2.2% from last year, the China National Grain and Oil Information Center said, without giving reasons. Wheat production is estimated to grow 0.5% to 118 million tons; soybean production is estimated to decline 10.3% to 13 million tons. The Ministry of Agriculture previously predicted the nation’s total grain output would amount to 525 million tons this year.

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