Official forecasts mild CPI growth ahead in China

China's consumer price index (CPI), a main gauge of inflation, is expected to have a mild increase in next few months, said Liu Aihua, a spokeswoman of the National Bureau of Statistics(NBS) on Saturday at a press conference in Beijing.

The CPI was up 0.6 percent year on year in August, quickening from the 0.5-percent increase in July.

Among food items, the prices of fresh vegetables and fruits increased by 21.8 percent and 4.1 percent respectively, while prices of eggs, edible oils, beef, mutton, and potatoes decreased, with the decline ranging from 4.0 percent to 14.5 percent. In the non-food category, service prices increased by 0.5 percent, while prices of industrial consumer goods decreased by 0.4 percent.

On a monthly basis, the CPI grew 0.4 percent in August, slightly lower than the 0.5-percent increase in July.

In the food category, prices of fresh vegetables, fungi, fruits and eggs rose due to the impact of high summer temperatures and heavy rainfalls in some parts of the country. In the non-food category, domestic gasoline prices fell by 3 percent due to fluctuations in international oil prices.

"Looking ahead, vegetable prices may see a slight decline, while pork prices could continue to rise. Food prices are expected to remain stable. Regarding industrial consumer goods, downward pressure on energy prices is mounting due to international factors. Adequate supply of other industrial consumer goods could help maintain stable prices. In terms of service prices, impacted by the upcoming Mid-Autumn Festival and National Day holiday, service prices are expected to be stable generally with a slight rise. Considering all these factors, the CPI is anticipated to moderately increase in the upcoming period," said Liu.

Official forecasts mild CPI growth ahead in China

China's total import and export volume of trade in sports services reached 52.89 billion yuan (about 7.45 billion U.S. dollars) in 2023, said the State General Administration of Sport on Wednesday.

At a press conference in Beijing, Zhou Jinqiang, deputy director of the State General Administration of Sport, briefed on the achievements scored by China since the 18th National Congress of the Communist Party of China (CPC) in 2012.

China's sports sector has achieved high-quality development, with a widespread trend of fitness among the public, remarkable achievements in competitive sports, vibrant youth sports activities, and rapid growth in the sports industry, Zhou said, adding these advancements have contributed to building China into a leading sports nation.

"Since the 18th National Congress of the Communist Party of China, the total scale and added value of China's sports industry have significantly increased, with growth rates surpassing those of GDP during the same period. The proportion of the sports industry in the country's GDP has also continued to rise steadily," said Zhou.

"From 2012 to 2022, the annual average growth rate of the added value of the sports industry reached 15.4 percent, with its share of the domestic GDP increasing from 0.60 percent to 1.08 percent. In 2023, China's total import and export volume of trade in sports services stood at 52.89 billion yuan, marking a 178 percent increase compared to the previous year. At present, China has essentially forged a sports industry system that is led by competitive performances and fitness leisure, with the joint development of sports venue services, sports training, sports manufacturing, and sports media," said Zhou.

China's total trade in sports services reaches 52.89 bln yuan in 2023: official