China's PPI down 2.5 pct in March

China's producer price index (PPI), which measures prices of goods at the factory gate, went down 2.5 percent year on year in March, the National Bureau of Statistics (NBS) said Thursday.

On a month-on-month basis, the PPI dropped 0.4 percent in March, according to the NBS data.

NBS attributed the decline of PPI to several factors, including the drop in domestic oil prices, seasonal downturn in energy demand, and declining prices of some raw material industries.

Among the producer prices for industrial products, the price for means of production decreased by 2.8 percent in March, affecting the overall level of producer prices for industrial products decreased by about 2.09 percentage points.

Among them, the price for the mining industry decreased by 8.3 percent, the price for the raw material industry decreased by 2.4 percent, and the price for the processing industry decreased by 2.6 percent. The price for means of livelihood decreased by 1.5 percent, affecting the overall level of producer prices for industrial products decreased by about 0.38 percentage point. Among them, the price for food went down by 1.4 percent, for clothing down by 0.3 percent; prices for general commodities up by 0.7 percent, and for durable consumer goods down by 3.4 percent.

The purchasing prices for industrial producers decreased by 2.4 percent year on year in March, and down by 0.2 percent month on month, NBS said.

Among the purchasing prices for industrial producers, prices for ferrous metal materials down by 7.8 percent, for fuel and power down by 6.8 percent, for raw chemical materials went down by 3.4 percent, for agricultural and sideline products down by 3.0 percent, for both building materials and non-metallic down by 2.1 percent and for non-ferrous metal materials and wires up by 10.8 percent.

In the first quarter, the producer prices for industrial products and the purchasing prices for industrial producers both decreased by 2.3 percent compared with the same period of last year.

China's PPI down 2.5 pct in March

China's PPI down 2.5 pct in March

China's PPI down 2.5 pct in March

China's top political advisor Wang Huning has met with delegates attending the 11th national congress of the Taoist Association of China, which was held on Monday and Tuesday in Beijing.

Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the Chinese People's Political Consultative Conference National Committee, stressed the importance of implementing the Party's basic policy on religious affairs, and of guiding followers and key figures of Taoism to contribute to the country's modernization drive.

Wang urged the association to exercise full and rigorous governance over the religion, intensify efforts to raise awareness of the rule of law, and foster an image of a Taoist community that is patriotic and devoted to the faith, maintains good conduct, abides by the law, and upholds Taoist precepts.

He encouraged the association to cultivate talent proficient in both canonical teachings and fine traditional Chinese culture, and to expand global exchange in Taoism.

At the national congress, the association adopted a revised charter, as well as a set of religious rules and regulations, and elected new leadership.

Top political advisor meets with Chinese Taoist delegates