China's crude oil output dips in June

China's crude oil output dips in June

China's crude oil output dips in June

China's coal production rose 10.6 percent to 308 million tonnes in June from a year ago, data showed on Monday, as miners ramped up output to meet a pick-up in demand during the hot summer months, data from the National Statistics Bureau showed.

The increase in the area of property sold also slowed to 14.1 percent in the second quarter year-on-year, from a 19.5 percent gain in the first quarter, Reuters calculation showed.

Investment grew 8.6 percent year-on-year in the first six months, down 0.6 percentage point from the first quarter.

Zhu raised his 2017 full-year growth estimate to 6.8 percent from 6.7 percent after the report, as did economists at Nomura Holdings Inc.

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China's nationwide survey-based jobless rate was below 5 percent in June, with 7.35 million new urban jobs created in the first half of the year, the statistics bureau said on Monday.

The 6.9 per cent expansion for the second quarter of the year, announced by China today, matched first-quarter growth. A report on how - or if - the US will react could come as early as this week.

Risks loom, however, over the world's second largest economy.

However, growth is expected to slow over the remainder of the year as Beijing seeks to cool a red-hot housing market and attempts to rein in leverage.

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Retail sales also impressed, lifting by 11% from a year earlier.

At the National Financial Work Conference, President Xi Jinping clarified that regulatory tightening would continue quickly with a Commission for Financial Stability established.

"Both the economy and the currency should help to ease investors' fears that China is going to the source of a further growth and financial market fright, after the volatility such worries caused in August 2015 and early 2016".

Industrial output gained 7.6 percent in June prior year beating analysts' expectation of a 6.5 percent increase.

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