GD CPI down 4.2% in July while Travel Cost Soars
Guangdong's consumer price index (CPI), a main gauge of inflation, dived 4.2% in July from a year earlier. However, compared to June levels, the rate has risen by 0.5%. Analysts point out that the rise is mostly driven by the tourism industry during the summer vacations which have increased by over 20% and today contribute to 0.4% of the province's growth rate. Other than that, food prices have dropped by about 5% and prices for clothes, property and transport have dropped by around 9%.

Guangdong Aims to Shift from Manufacturing to Innovation
Guangdong has set itself the goal to catch up with medium-developed countries in terms of self-driven innovation. By 2020, the province should have become an innovation-oriented region. At a government conference presided by Governor Huang Huahua yesterday (August 11), importance was laid on transforming Guangdong from a manufacturing hub into an innovation center. By 2012, the government pledged to have invested more in research and development, expecting it to account for 2.5% of the region's GDP. By then, the production revenue from high technologies is thought to reach 380 million yuan.

photo from sznews

74% of all 414 listed Chinese companies show increased net profit in Q2
According to the China Securities Journal Information Data Center, more than 74% of all 414 listed Chinese companies reported an increase in net profits in the second quarter over the previous one. Business revenue was up 21.5% in the second quarter from the previous one, whilst their net profit was up 76.% quarter on quarter.

photo from gzdaily.dayoo.com

GZ and Shaoguan Strengthen Auto Production Cooperation
Guangzhou and Shaoguan in northern Guangdong will strengthen cooperation in the automobile industry. This move is part of efforts to achieve Guangdong "dual transfer" strategy, so as to coordinate the development of well-developed and rich areas with poorer and less-developed regions. The two sides signed an agreement yesterday (August 11) in Guangzhou.