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China’s Consumer Price Index Weakens to 1.4% in July

Chinese consumer inflation weakened slightly in July, while producer prices expanded at a steady pace, government data revealed Wednesday. The July consumer price index (CPI) advanced 1.4% from a year earlier, slightly below the previous month’s gain of 1.5%, the National Bureau of Statistics said in a report. Analysts in a median estimate called for a 1.5% increase.

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China's exports at the lowest level since February

China customs administration announced trade data in yuan terms in statement today. July exports climbed 11.2% y/y; median est. 14.8% rise y/y (range +12.1% to +16.5%, 10 economists). July imports climbed 14.7% y/y; median est. 22.6% rise (range +16.0% to +26.9%, 10 economists).

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China's Manufacturing PMI down to 51.4

The Chinese economy expanded at a slower but steady pace in July, with broad measures of manufacturing and services continuing to show progress. Beijing’s official manufacturing purchasing managers’ index (PMI), which focuses on large and state-run companies, dipped to 51.4 in July. That was a slightly bigger drop than the consensus forecast, which called for a decline to 51.6.

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Xi sees positive changes in China's economy

President Xi Jinping has spoken of positive changes and stronger momentum in China's economy, while calling for measures to implement supply-side structural reform and defuse major risks. Xi, also general secretary of the Communist Party of China (CPC) Central Committee, made the remarks at a symposium Friday attended by representatives of non-Communist parties and the All-China Federation of Industry and Commerce, as well as non-party personages.

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