China's August PMI for non-manufacturing sector steady at 60.1%; manufacturing sector rises to 51.7%: The Purchasing Managers' Index (PMI) for China's non-manufacturing sector in August remained the same as in July - 60.1%, and PMI for manufacturing sector rose to 51.7% in August, up 0.5 percentage points from July - theChina Federation of Logistics and Purchasing (CFLP) said here Friday in a statement posted on its website.

China's passenger car sales increase 59.26% in August: China's passenger car sales in August increased 59.26% from one year earlier to 977,300 units, the China Automotive Technology and Research Center (CATRC) said Wednesday. The growth rate was 43.83 percentage points higher compared with that in July, the Tianjin-based CATRC said. China's auto sales, including those of passenger cars and commercial vehicles such as vans, lorries and tractors, totaled 9.46 MM units in the first eight months of this year, up 31.53% Y-o-Y, it said. Auto production in China, the world's largest auto market, rose 35.45% from a year earlier to 10.91 MM units in the January-August period, it said. The average time cars took to sell once off the production line fell to 57 days last month from 58 days in July, the center said. China's software industry revenue up 29% in first 7 months: Revenues in China's software industry rose by 29% Y-o-Y to reach 723.1 BB yuan (106 BB USD) in the first seven months of 2010, the Ministry of Industry and Information Technology (MIIT) announced Wednesday. The growth rate was 6.8 percentage points higher than that in the same period last year, figures released by the MIIT show. Revenue in July alone hit 118.3 BB yuan, an increase of 28.5% Y-o-Y. Software design and development businesses reported 40.7 BB yuan in revenues in the first seven months, surging 78.1% Y-o-Y, while revenues from information technology consulting services totaled 72.6 BB yuan, up 36%. Revenues from software products such as computer software rose 23.5% to hit 251 BB yuan, accounting for 35% of the sector's total revenues. Export volume of software grew by 26.2% to 13.86 BB USD in the first seven months, MIIT figures show. Outsourcing services provided by the country's software industry rose by 32.9% to hit 1.49 BB USD. 

Combined profits of China's listed companies surge in first half: Most of China's listed companies posted strong growth in profits amid market fluctuations in the first half, according to figures in reports released by those companies. Of the 1,947 companies listed on the Shanghai and Shenzhen stock exchanges, 1,700 made profits while 247 firms posted losses, according to the markets' half-year report disclosures, which ended Tuesday. The combined net profits of listed companies totaled 784.99 BB yuan (115.26 BB USD) in the January-June period, up 41.17% from the same period last year. Blue chip companies contributed most of the profits despite a 26.82% fall of the benchmark Shanghai Composite Index. The combined profits of 50 constituent companies of the benchmark Shanghai Composite Index amounted to 554.61 BB yuan (81.43 BB USD), or 70.65% of the markets' total. Components of the broader Hushen 300 Index reported combined net profits of 691.26 BB yuan (101.50 BB USD), accounting for 88% of total profits in the two markets. The index tracks the performance of 300 major companies listed on the Shanghai and Shenzhen stock exchanges. Average earnings per share for the listed companies was 0.255 yuan in the first half.

New trading system rules to be outlined as early as October: China may soon take a major step forward to expand the country's over-the-counter (OTC) securities market, a move that experts said is a key to establish a multi-layer capital market, as companies traded in the market are believed to have entered a healthy stage of development. Companies traded on the OTC securities market saw a surge in both revenues and profits for the first half of the year with 69 companies reporting a 75% increase in net profits to 359 MM yuan Y-o-Y, according to the Securities Association of China. The better-than-expected performance of OTC companies and the rapid growth of the OTC market have prompted the country's securities regulator to mull gradually expanding the pilot program of the OTC trading system to more cities across the country. Shanghai and Wuhan, the capital of Hubei province are expected to launch an OTC trading system soon and detailed regulations may be revealed as early as October, according to Chinese media reports. China established the first OTC stock trading pilot program in Beijing's Zhongguancun Science Park in 2006, known as the Zhongguancun Stocks Quotation and Transfer System. Similar to the Over-the-Counter Bulletin Board (OTCBB) in the United States, the trading system provides an electronic financing platform for non-listed start-up companies to raise funds. By far there are 70 high-tech start-up companies traded in China's OTC market.



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