Making headlines

Source:Global Times Published: 2017/8/13 20:23:39

Major economic data for July

The National Bureau of Statistics (NBS) is scheduled to release a series of economic figures for July on Monday, including fixed-asset investment, industrial production and retail sales.

In the first half, fixed-asset investment grew 8.6 percent year-on-year to 28.06 trillion yuan ($4.21 trillion), while industrial production expanded 7.6 percent, above the 6.5 percent in May, NBS data showed.

New home prices in 70 cities

The NBS will release figures on China's new home prices in 70 major cities in July on Friday.

In June, the average price of new homes in those cities rose 0.7 percent from May, in line with the growth in May after regulators took steps to rein in the property market, according to a statement on the website of NBS.

Q2 earnings for tech companies

Three of China's Internet giants -, Tencent Holdings and Alibaba Group - will release second-quarter financial statements on Monday, Wednesday and Thursday, respectively.

In the first quarter, reported a gain in net profit for the first time since its Nasdaq listing in May 2014. The e-commerce platform reported sales of 76.2 billion yuan  and net profit of 239 million yuan.

Tencent's first-quarter net profit expanded 58 percent year-on-year to 14.48 billion yuan thanks to solid growth in its gaming and advertising business. Boosted by strength in the e-commerce market, Alibaba's profit rose 38 percent year-on-year to 10.44 billion yuan in the first three months.

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