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Aviation Posts ¥1.4b Loss for May
China's aviation industry reported a ¥1.37 billion loss in May as air travel demand remained slack and a depreciating Renminbi against the US dollar worsened foreign exchange exposure, the Civil Aviation Administration of China said. The aviation industry profited ¥1.84 billion in April after posting losses in the previous two months. Passenger traffic was up 5.5% year on year to 25.4 million people and cargo traffic was up 0.6% year on year to 450,000 tons in May. However, passenger and freight volume shrank from April.
FDI Growth Steady in May
Foreign direct investment in China rose less than a tenth of a percentage point from a year earlier to $9.23 billion in May, the Ministry of Commerce said. The amount dropped 0.7% year on year in the previous month. Between January and May, FDI added up to $47.11 billion, down 1.9% from the same period a year ago.
39m Mobile Devices Sold in China in Q1
The number of mobile device users in China grew by 39 million in Q1 2012, the largest increase worldwide during the period, according to handset maker Ericsson.
$1 = ¥6.36
@2011 China Economy @ The China Perspective.
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