1. Chinese economy is still within the reasonable range, and the fundamentals and long-term positive trend of China's economic development remain unchanged, Premier Li Keqiang said during a meeting with European Commission Vice President Jyrki Katainen on Monday. China's economy maintained medium-high speed of growth and was moving toward medium-high level of development, Li said.
2. Profits of China's major industrial firms fell 8.8 percent year on year in August, sharply down from a 2.9-percent decline posted in July, the National Bureau of Statistics (NBS) said on Monday. The poor performance was mainly caused by drop in industrial goods prices due to weak domestic demand, a rise in unit costs, the stock market rout, and volatility in the yuan exchange rate, said He Ping, an official with the Department of Industry at NBS.
3. China's slower growth and economic transition will pose significant risks for the already struggling shipping sector, rating agency Fitch said on Monday. "Weaker data on exports and manufacturing in China and its economic transition increase uncertainty for container shipping," said Fitch in a report. China is a key player in global trade, accounting for two-thirds of world iron ore imports, 20 percent of coal imports and 16 percent of oil imports.
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