China NDRC: Second-half inflation growth to ease from first half of year

China’s state planner, the National Development and Reform Commission of the People's Republic of China (NDRC) posted headlines on the Chinese economic fundamentals, via Bloomberg and Reuters this Tuesday.

Key Points:

China fails to meet H1 coal, steel overcapacity cut goals

But the overcapacity cuts progressed faster in July

No major changes in China's economic fundamentals in H2

China July power consumption +8.17 pct y/y

China January - July power consumption up 3.6 pct yr/yr

Confident CPI target of 3 pct will be achieved

Second-half inflation growth to ease from first half of year

Decline in PPI to also ease

Plans 137 major projects to support NE China