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szdaily -> Business_Markets
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    2017-August-9  08:53    Shenzhen Daily

July coal imports at five-month low

CHINA’S coal imports in July fell to their lowest in five months as the government’s efforts to combat pollution curbed utilities’ ability to buy cheaper foreign fuel and caused backlogs in ports, customs data showed yesterday.

Arrivals of China’s favorite fuel totaled 19.46 million tons in July, data from the General Administration of Customs showed. That’s down nearly 10 percent from June and 8.3 percent lower than July last year.

McDonald’s to open 2,000 more China stores

MCDONALD’S Corp. will increase its number of stores on the Chinese mainland to 4,500 by the end of 2022, up from 2,500 currently, as part of a strategic partnership with Citic Ltd. and Carlyle Group, it said yesterday.

The global fast-food chain said it aimed to achieve double-digit sales growth on the mainland every year for the next five years. McDonald’s completed a deal at the end of July, giving Citic a controlling interest in its mainland and Hong Kong businesses.

Soybean imports hit highest on record in July

CHINA’S July soybean imports surged 30 percent to their highest level on record back to 2010, according to calculations based on customs data, as ports in the world’s top oilseed consumer rushed to clear a months-long backlog of cargoes.

July imports hit 10.08 million tons, topping the earlier highest level set in May at 9.59 million tons, and were up 31 percent from 7.69 million tons in June.

HK’s second-quarter growth may cool

HONG KONG’S economic growth in the second quarter probably cooled from its fastest annual pace in six years but the city will still post a solid performance due to recovering domestic demand, a buoyant stock market and booming property sector.

The US$270 billion economy was forecast to expand 3.48 percent in the April-June quarter from a year earlier, according to the average estimate of six analysts surveyed. The economy grew 4.3 percent in the first quarter — its fastest pace since the second quarter of 2011. The economy would grow a seasonally adjusted 0.8 percent, according to the average of three forecasts, compared with 0.7 percent in the March quarter. A strong first-half performance means the economy is more likely to meet the government’s 2-3 percent gross domestic product estimate for 2017.

 

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