Fixed-asset investment

THE National Development and Reform Commission (NDRC) said yesterday that it approved 68.9 billion yuan (US$9.72 billion) of fixed-asset investment projects in August.

The NDRC approved a total of nine fixed-asset investment projects last month, spokeswoman Meng Wei told reporters in a news briefing.

Power use

THE country’s electricity consumption, a key barometer of economic activity, rose 4.5 percent year on year in the first eight months of 2019, the NDRC said yesterday.

Power use by the secondary industry increased by 3 percent, and that by the tertiary industry 8.8 percent, according to economic planner. In August alone, the country’s power use grew 3.6 percent year on year, 0.9 percentage points higher than that in July.

Outbound investment

CHINA’S non-financial outbound direct investment (ODI) maintained steady growth in the first eight months of the year, official data showed Tuesday.

Non-financial ODI in 159 countries and regions amounted to 493.09 billion yuan in the period, up 2.7 percent year on year, according to the Ministry of Commerce. During the first eight months, Chinese companies added a total of US$8.97 billion of investment in 53 countries participating in the Belt and Road Initiative, accounting for 12.4 percent of the total.

Juul’s sales halted

E-CIGARETTE maker Juul Labs Inc.’s sales have been halted in China, days after the startup launched its products in the world’s biggest tobacco market.

Juul’s sleek vaporizers went on sale early last week online on both JD.com Inc. and Alibaba Group Holding Ltd.’s Tmall, with refill pods in flavors such as mint, Virginia tobacco, mango and cream. But they have been taken off both ecommerce sites. The company is pushing hard to expand globally as it faces pressure in the United States.