Growth in Chinese industrial companies’ profits slowed in June as the economy cooled, costs rose and prices fell on moderating demand and overcapacity.
China’s stocks rose the most in a week, led by financial and technology companies, as benchmark money-market rates plunged and speculation grew the government will take steps to support the economy.
China’s economic growth accelerated for the first time in three quarters, as Premier Li Keqiang spurred factory output and investment to meet the government’s expansion goal for 2013.
China should refrain from rolling out more stimulus to boost economic growth and continue to implement changes to curb dangers from shadow banking and local government debt, the International Monetary Fund said.
An official report on China’s manufacturing in June omitted numbers for export orders, imports and inventories of finished goods, without any explanation for the gaps.
"The data are quite positive."
- Zhu Haibin on Jul 15, 2014