GDP forecast

    ECONOMISTS at China’s central bank have lowered their 2015 growth forecast for the Chinese economy to 7 percent, from 7.1 percent, citing increased downward pressure on activity.

    In a report posted on the central bank’s website, the economists also lowered their forecasts for China’s trade growth, and said their estimates represented their personal views and not that of the People’s Bank of China.

    Biggest oil buyer

    BRAZIL’S oil exports to China increased threefold in the first five months of this year, making China the largest consumer of Brazilian oil in the world, said daily Folha de Sao Paulo on Tuesday.

    According to Folha, Brazil exported 5.4 million tons of oil to China from January to May, accounting for 35 percent of Brazil’s total oil exports in the same period. The amount of oil shipped to China is twice as much as that to the United States.

    More air routes

    MORE air routes linking China with Japan will be launched over the next few months to cater to an upsurge of Chinese travelers during the coming summer holidays.

    China’s budget carrier Spring Airlines announced a new air link between Harbin City in Heilongjiang Province, and Nagoya, Japan, on June 29. It is the first direct air route linking the city with the central area of Japan. The three-hour flight will fly every Monday, Wednesday and Saturday. In addition, Xiamen Airlines said Sunday that it will open a direct air link between Fuzhou City in Fujian Province, with Japan’s Osaka. The Boeing 738 flight will operate every Monday, Tuesday, Thursday and Saturday beginning July 16. The airline will also open a round-trip flight to connect Xiamen, where the company is based, with Tokyo in August.