Manufacturing Slows a Bit in Jul
China's manufacturing activity slowed slightly in July as the official purchasing managers index fell by a tenth of a percentage to 50.1, according to joint data from the National Bureau of Statistics and the China Federation of Logistics and Purchasing. The reading has hit an eight-month low after third straight month of decline. The gauge for July compiled by HSBC was 49.3, lower than the preliminary reading of 49.5.
China's Rich Population Grows Fast
The number of people with at least ¥10 million in assets in mainland China has exceeded one million, according to a third-party analysis based on figures released by the National Bureau of Statistics. China had 1.02 million wealthy people including 63,500 who possessed at least ¥100 million worth of assets as at the end of 2011, up 6.3% and 5.8% respectively from a year earlier. Equities of unlisted firms, properties and art collections were included in the analysis.
$1 = ¥6.33