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NCDA&CS China office July 6 update
Story Date: 7/7/2021
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Source: NCDA&CS, 7/6/21
Highlights from this week:
• The World Bank changed its prediction of China’s GDP growth in 2021 to 8.5%, an increase of 0.6% compared with last December
• Hog prices in China have trended down for several consecutive months this year. The price went down 11.2% in early June compared with late May
• The total sales of U.S. soybeans exported to China in this week increased 127% year-on-year. And China has scheduled about 9.5 million metric tons of U.S. corn for the 2020/21 marketing year
• Between Jan. and May, retail sales of the food industry witnessed robust growth, with that of grain, oil and food up 9.5% year-on-year to US$ 102.19 billion. Among them, retail sales in the beverage sector surged 29.2% year-on-year to US$ 16.58 billion, while sales in the tobacco and alcohol sector registered a 35.4% yearly increase to US$28.99 billion
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