China's PPI fell 8.2% year on year in July
According to the National Bureau of Statistics, China's producer price index (PPI), a major gorge of inflation at the wholesale level, fell 8.2% year on year in July. China's consumer price index (CPI), a main gauge of inflation at the retail level this time, dipped 1.8% in July from a year earlier. On the other hand, Guangzhou's CPI and PPI rose respectively 0.9% and 0.6% compared to last month.

Sinopec, KPC choose S Chinese city Zhanjiang for oil complex
China's Petroleum & Chemical Corp., Asia's biggest refiner, said a joint refining and chemical complex will be built in Zhanjiang city with the Kuwait Petroleum Corporations (KPC). The 9 billion-U.S. dollar project is expected to be completed by the end of 2013 after it's approved from the National Development and Reform Commission. It will become one of the country's biggest refining and chemical complexes with an annual capacity of 15 million tonnes.

China's export-oriented eastern coast aims high with new energy
Guangdong hopes to boost its new energy industry's output to 400 billion yuan (58.48 U.S. dollars) by 2020. The move opens a new growth outlet for the previously export-oriented economy. According to Li Miaojuan, the director of the provincial development and reform commission, Guangdong will focus on nuclear, wind and solar energy for its development. Nuclear power production in particular, will increase from the current 4 million kilowatts to 24 million kilowatts by 2020.

China's property prices continued to rise
China's property prices continued to rise in July, as bank loans surged and the country's economy improved. Home prices in 70 large and medium-sized Chinese cities rose 1 full % in July from a year earlier. In July, prices of new homes in Guangzhou rose 2.7% and in Shenzhen by 2.2% year-on-year. Second-hand homes in the 70 cities rose 3% in July year-on-year and 0.9% compared to June.