Loan growth strong in Yangtze River Delta area

The balance of domestic and foreign currency loans in the Yangtze River Delta region stood at 41.79 trillion yuan ($5.97 trillion) by the end of June, up 14.8 percent year-on-year, official data showed. According to the Shanghai head office of the People's Bank of China, by the end of June, the balance of yuan loans was 40.64 trillion yuan, up 14.8 percent year-on-year, up 0.1 percentage point on a yearly basis. In June alone, new yuan loans in the region hit 557 billion yuan, an increase of 83.7 billion yuan on a yearly basis, while new foreign currency loans stood at $2.5 billion.

Kweichow Moutai net profit up 13.29% in H1

China's leading liquor producer, Kweichow Moutai, said its net profit grew by 13.29 percent on a yearly basis to 22.6 billion yuan ($3.2 billion) during the first half of this year. The company said in its earnings report that it generated operating revenue of 43.95 billion yuan, up 11.31 percent on a yearly basis. The domestic market accounted for 42.81 billion yuan of its operating income.

Xinhua