Biz China Weekly: GDP, industrial output, investment, disposable income, housing prices, fiscal revenue

Source: Xinhua| 2020-10-24 09:16:50|Editor: huaxia

BEIJING, Oct. 24 (Xinhua) -- The following are the highlights of China's business news from the past week:

-- China's gross domestic product expanded 4.9 percent year on year in the third quarter of 2020, faster than the 3.2-percent growth in the second quarter and the 6.8-percent slump in the first quarter, data from the National Bureau of Statistics (NBS) showed Monday.

-- In the first three quarters, industrial output went up 1.2 percent year on year, reversing a decline of 1.3 percent in the first half of this year.

-- Fixed-asset investment went up 0.8 percent year on year in the first three quarters of 2020. Total fixed-asset investment came in at 43.65 trillion yuan (about 6.5 trillion U.S. dollars) during the period.

-- China's per capita disposable income stood at 23,781 yuan in the first three quarters, up 3.9 percent from the same period last year in nominal terms, NBS data showed.

After deducting price factors, per capita disposable income rose 0.6 percent year on year, returning to positive territory for the first time this year.

-- China's housing market remained generally stable in September, with slight month-on-month growth in home prices in major cities, NBS data showed Tuesday.

New home prices in four first-tier cities -- Beijing, Shanghai, Guangzhou and Shenzhen -- rose by 0.4 percent month on month in September, down 0.2 percentage points from a month earlier.

On a monthly basis, new home prices edged up 0.3 percent in 31 second-tier cities, and rose 0.5 percent in 35 third-tier cities.

-- China's fiscal revenue rose 4.5 percent year on year in September, marking the fourth consecutive month of gain this year, according to data released by the Ministry of Finance Wednesday.

The country's fiscal revenue came in at 14.1 trillion yuan in the first three quarters, down 6.4 percent year on year. Enditem