China Economic Update

China Economic Update

China’s top economic planner permitted 248 fixed-asset investment schemes with overall investment touching USD315 billion in the first six months of this year, based on recent reports.

Additionally, China’s overall fixed-asset investment increased 10.2 percent year on year to a whopping USD6.9 trillion in the Jan-June timeframe of the current year, according to the available data.

In June alone, 11 projects valued at USD15.7 billion has been approved, which include transportation, technology and energy, according to National Development and Reform Commission (NDRC).

Basically, all these developments and schemes will aid organize and boost local growth, promote transportation substructure building and last but not least; improve the energy segment.

Official data showed, on Wednesday, that profits of China’s major industrial firms raised 6.2% in the first half of this year, which decreased from a 6.4% registered in the first five months.

According to (Xinhua), industrial firms’ profits rased from 3.7% posted in May, to 5.1% recorded in June.

Though, the country’s GDP increased 6.7% year on year in Q2. And that is considered within the government’s targeted range for 2016, which is in the range between 6.5% and 7%, as reported QNA.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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