Biz China Weekly: GDP, Foreign trade, CPI and PPI

Xinhua News Agency | Oct 19, 2019 at 7:02 AM

BEIJING, Oct. 19 (Xinhua) -- The following are the highlights of China's business news from the past week:

GDP

China registered a 6.2-percent growth year on year in the first three quarters, within the government's annual target of 6-6.5 percent, data from the National Bureau of Statistics (NBS) showed Friday.

In the third quarter, the country's GDP logged a 6-percent growth year on year, according to the NBS data.

The Chinese economy has maintained overall stability, NBS spokesperson Mao Shengyong said at a press conference, while acknowledging that China faces downward pressure amid slower global economic growth and more external uncertainties.

FOREIGN TRADE

China managed to maintain generally steady trade growth in the first three quarters of this year though global uncertainties weighed on trade demands.

The country's foreign trade rose 2.8 percent year on year during the January-September period, with exports expanding 5.2 percent and imports dipping 0.1 percent, data from the General Administration of Customs showed Monday.

Foreign trade in the first nine months kept growing and the trade structure kept improving despite slowing global economic and trade growth and more complex external environment, said spokesman Li Kuiwen.

CPI & PPI

China's consumer prices in September remained within the annual target of around 3 percent, with more stabilizing macroeconomic measures to take effect in the near future.

The country's consumer price index (CPI), a main gauge of inflation, rose 3 percent year on year in September, up from 2.8 percent in August and representing the highest growth this year, the National Bureau of Statistics said Tuesday.

The average growth rate in the first nine months of this year came in at 2.5 percent, well within the around 3-percent range set by the government.

The producer price index (PPI), which measures costs for goods at the factory gate, fell 1.2 percent year on year in September.