介绍:
China retail sales up 11 pct in October
New stats suggest retail spending here in China is on the rise.
The National Bureau of Statistics is reporting retail spending for October has increased by 11-percent on an annualized basis.
This is up slightly from the 10.9-percent year-on-year increase registered in September.
Consumer spending has been earmarked by the government as a priority as authorities attempt to shift the Chinese economy away from an export-driven model.
China's auto sales surge in October
Latest stats show China's automobile sales surged year on year in October while production rebounded.
China's automobile sales grew nearly 12 percent to some 2.2 million vehicles in October.
While output ended previous drops by edging up 7.1 percent year on year to about 2.1 million.
The China Association of Automobile Manufacturers says sales growth in October was mainly due to the growth in demand for passenger cars and new energy vehicles.
More than 19 million vehicles were sold in the first ten months of this year, 1.5 percent more than in the same period last year.
Production was marginally higher on the same basis.
China's automobile market cooled in the early months of this year as a result of the economic slowdown, fierce competition and purchase limit policies in first-tier cities.
Tencent's Q3 Revenue Beats Estimates
China's biggest social network and online entertainment company Tencent has reported better-than-expected revenue growth in the third quarter.
Third-quarter revenue rose 34 percent year on year, the fastest rate in five quarters, hitting some 26.5 billion yuan or about 4.1 billion U.S. dollars.
Revenue in the company's value-added services category grew 28 percent to about 20.5 billion yuan, boosted by new smartphone and personal computer games, as well as social network income.
The company's advertising revenue surged 102 percent to 4.9 billion yuan thanks to an enlarged advertiser base, with 65 percent of that revenue generated on mobile platforms.
Tencent's net quarterly income came in at some 7.4 billion yuan, marking a year-on-year jump of 39 percent.
Global monthly users of Tencent's messaging app WeChat reached 650 million at the end of September, a year-on-year growth of 39 percent.
China Mobile Internet Users hit 875 million
Anchor:
A new report by the China Center for Information Industry Development shows the number of people in China using mobile Internet has surpassed 875 million.
The same report also suggests mobile Internet in China is poised to be a 2.3-trillion yuan industry by the end of this year.
The China Center for Information Industry Development expects that figure to increase to 3-trillion by the end of next year.
The forecast growth comes despite a demand by the Ministry of Industry and Information Technology earlier this year that Chinese telecoms lower their fees for using the internet, while at the same time, put in money to increase connection speeds across the country.
For more on the mobile internet in China, CRI's Shane Bigham earlier spoke to John Ross, senior fellow with the Chongyang Institute for Financial Studies at Renmin University.
China's industrial output up 5.6 pct in October
Official data shows China's value-added industrial output expanded 5.6 percent year on year in October, slightly down from 5.7 percent in September.
Manufacturing output expanded 6.7 percent, the same growth rate as the previous month.
Mining output growth further slowed to 0.4 percent from 1.2 percent in September.
Meanwhile, the output of the electricity, heating, gas and water sectors fell by 0.3 percent, in comparison to a 0.7-percent growth in September.
The latest data also shows that industrial output in China's central regions rose 7.7 percent in October year on year.
While industrial output in northeastern areas extended losses by 4.6 percent from 1.8 percent in September.
Value-added industrial output is used to measure the final value of industrial production, or the value of gross industrial output minus intermediate inputs, such as raw materials and labor costs.
AB InBev, SABMiller Formalize $106 Billion Deal
The World's biggest brewer Anheuser-Busch InBev has finalized the terms of a 106 billion U.S. dollar takeover of South Africa's SABMiller.
As part of the deal, AB InBev has agreed to sell SABMiller's 58 percent stake in MillerCoors to its partner Molson Coors for 12 billion U.S. dollars.
The two companies had twice extended the deadline for a formal offer implementing an agreement in principle announced in October.
The deal is said to be one of the largest mergers in corporate history.
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