No More Stimulus: NDRC Official
Chinese companies shouldn't expect new fiscal stimulus from the central government, and what they should do is curb their excess capacity and move up the value chain, Hexun.com reported, citing an unnamed official with the National Development and Reform Commission, the nation's top economic planning body.
Vegetables Prices Continue Falling, Pork Prices Rebound
The prices of the 18 most eaten vegetables in China fell 5.2% week on week in 36 largest cities in the week through May 26, 2013, as the warmer weather increased output and supply, the Ministry of Commerce said. It was the fifth straight week that saw the downward trend, with a total decline of 21.9% over the five weeks. Pork prices rose 1.1% last week ending the falling streak since mid February, the ministry added.
Natural Gas Imports Up 32% Through April
China's crude oil production rose 2.6% year on year to 68.26 million tons between January and April of 2013, the National Development and Reform Commission said. The nation produced 88.82 million tons of refined oil after processing 144.37 million tons of crude oil in the four months, up 4.5% and 4.9% respectively from the same period of a year ago. Natural gas output and imports were 40.2 billion cubic meters and 17.1 billion m3 respectively in the four months, up 7.7% and 32.3% year on year respectively. China consumed 56.8 billion m3 of natural gas in the four months, up 13.2% year on year.
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