China crude steel production grows 9.3% YoY in Aug: NBS

China crude steel production grows 9.3% YoY in Aug: NBS

China crude steel production grows 9.3% YoY in Aug: NBS

After Beijing hit back with retaliatory tariffs, Trump said existing levies would also be raised in coming months, in October and December.

A formal trade negotiation meet is scheduled between the two countries for October.

"For China to maintain growth of 6.0 per cent or more is very hard against the current backdrop of a complicated worldwide situation and a relatively high base, and this rate is at the forefront of the world's leading economies", Chinese Premier Li Keqiang was quoted as saying in an interview with Russian media which was published on the Chinese government's website.

Traders expect a cut in the central bank's medium-term loan facility rate (MLF) as early as Tuesday, which would open the way for a reduction in the new loan prime benchmark rate (LPR) later in the week. "To stabilize growth, the next few months will see more aggressive policy efforts". Second-quarter growth cooled to 6.2%, the weakest in almost 30 years.

The pace of growth in China's economy slowed further in August, indicating that current stimulus policies may not be enough to shield the economy from the worsening effects of the trade war with the U.S.

The slowdown in China's factory and consumer sectors deepened in August, with industrial production growing at the weakest pace in 17-1/2 years, a sign of increasing weakness in an economy lashed by trade headwinds and soft domestic demand. Analysts had forecast a slight rebound to 7.9%.

Fixed-asset investment also disappointed.

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He said he was anxious about his brother in Abaco given the tropical storm. "I'm heartbroken, but life goes on", he said. Its swells could still affect the coasts of Florida, Georgia, South Carolina and North Carolina in the coming days.

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Siempre he tratado de luchar contra los oponentes más duros de mi división, pero muchos me han esquivado durante toda mi carrera. Estoy feliz de anunciar que subiré dos categorías para enfrentar a uno de los rivales más poderosos de esta división ".

Fixed-asset investment for the first eight months of the year rose 5.5 per cent, according to data published by the National Bureau of Statistics, compared with a 5.6 per cent rise forecast by analysts. Analysts had expected 5.6%.

The investment in residential buildings went up 14.9 percent year on year to 6.2 trillion yuan in the period, down from 15.1 percent in the first seven months.

Analysts have been puzzled by slow construction growth earlier in the year, with some citing deteriorating local government finances.

The stronger August investment and sales readings come amid a prolonged contraction in factory activity and a sharper fall in producer prices for the month, which have fueled worries that a global recession may be around the corner as growth in China loses steam.

That followed a factory survey that showed activity shrank for the fourth straight month as the trade war wore on.

The People's Bank of China cut the amount of cash banks must hold as reserves this month to the lowest level since 2007, though is still holding off on cutting borrowing costs more broadly. It is expected to free 900 billion yuan ($126.35 billion) for lending purposes to businesses that need the credit.

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