FDI Dips for Sixth Straight Month
Foreign direct investment in China dropped 0.7% year on year to $8.4 billion in April, marking the sixth consecutive month of decline, the Ministry of Commerce said. In the first four months of 2012, the nation's FDI fell 2.4% from a year earlier to $37.88 billion.
Power Usage Up 3.7% in Apr
China's electricity consumption rose 3.7% year on year to 389.9 billion kW hours in April, the National Energy Administration said. During the first four months, electricity consumption was up 6% from a year earlier to 1.56 trillion kW hours, including 26.7 billion kW hours from the primary sector (down 4.2%), 1.13 trillion kW hours from the secondary sector (up 3.7%), 181.7 billion kW hours from the tertiary sector (up 12.5%) and 217.6 billion kW hours from civilians (up 15.4%).
Household Financial Assets Average ¥63,800
The average Chinese household possessed ¥63,800 in financial assets as of the end of August 2011, according to a report by Southwestern University of Finance and Economics in Chengdu. Urban households owned ¥112,000 in financial assets on average, well above the ¥31,000 for their rural counterparts. The makeup of financial assets included 57.8% in bank deposits, 17.9% in cash, 15.5% in stocks, 4.1% in funds and 2.4% in banking wealth management products.
$1 = ¥6.31