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And the price of piglets jumped even more, up 4. Both the central government and provincial authorities are working to stabilize pork production and supply, according to a recent video conference held by the Ministry for Agricultural and Rural Affairs. Federal Reserve cuts interest rates. The consumer price index, which measures the prices of a select basket of consumer goods and services, rose 2. Foreign financial institutions will also be allowed to apply for the Type-A lead bond underwriter license in the interbank market, according to the measures.
Foreign institutions have previously only been allowed to be the lead underwriter for corporate panda bonds — yuan-dominated bonds that are issued by foreign non-financial institutions in China. In the first half of , Hong Kong saw a container throughput of 9. In the same period, Vietnam recorded 9. Read the full story later on Caixin Global. Additionally, the central government collected Some provincial-level governments even suffered a decline in fiscal revenue. In March, Beijing promised to slash taxes and fees by nearly 2 trillion yuan this year, compared with cuts of 1.
The American housing market is facing a sharp drop in demand from foreign investors led by Chinese homebuyers, CNBC reported, citing data from the National Association of Realtors.
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Both the number of transactions and purchase prices have dropped. Overseas homebuyers bought , properties in the U.
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The slowing sales partly reflect weakening demand from Chinese, the leading foreign buyers for seven consecutive years in U. Analysts attributed the pullback by foreign buyers in the U. Peng offered no further details such as the companies' names or business focuses. The growth rate met the median forecast of a 6. Fixed-asset investment, a key driver of domestic demand that includes infrastructure investment, increased 5. The reading was up slightly from 5.
Government-driven infrastructure investment rose 4. Value-added industrial output, which measures production at factories, mines and utilities, rose 6. Retail sales, which include spending by governments, businesses and households, grew 9. The reading marked the highest since March Read the full story on Caixin Global. Imports declined 7.
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Economists had forecasted a median decrease of 4. China will expand a pilot program this year to transfer government holdings in state-owned enterprises to social security funds nationwide in response to concerns about the sustainability of the pension system. The move is a further implementation of a trial plan that was limited to a small number of central government-owned businesses in selected provinces. According to the timetable set in , the transfer should be completed in batches and as soon as possible after One reason for the slow progress in that existing state-owned shareholders were not willing to cooperate, Caixin learned.
Some provinces running deficits in their pension funds have been forced to borrow from other provinces to meet pension payments. An April report by the Chinese Academy of Social Sciences, a central government think tank, projected that the national social security fund would be depleted by The reading marks the lowest point since August A Caixin investigation reveals how mass cover-ups and official inaction have driven China's African swine fever epidemic to crisis levels.
Local officials in many parts of the country have refused to acknowledge suspected outbreaks of the disease in order to avoid paying culling subsidies, reporters have learned.
Facing massive economic losses, many pig farmers sold their stock at low prices when they showed the first signs of swine fever. The pigs were sent to transfer hubs and slaughterhouses — sometimes in different provinces — further spreading the disease, which is not known to affect humans but kills almost every pig it infects, and can only be transmitted through direct contact.
Read the full investigation here. Since the disease was first reported in China in August, the country has recorded separate outbreaks and culled over 1 million hogs, Yu said. African swine fever is not known to affect humans but is deadly for pigs. Yu made the comments at the same briefing where he signalled that China would continue to import pork from the U.
Yu encouraged reports of any abnormal deaths of hogs, even if after investigation they turned out to be unrelated to African swine fever.