Making headlines

Summer Davos in Dalian

The Annual Meeting of the New Champions, also known as Summer Davos and hosted by the World Economic Forum, will kick off on Tuesday in Dalian, Northeast China’s Liaoning Province, where more than 2,000 participants from more than 80 countries and regions are expected to attend.

The three- day meeting will focus on inclusive growth in the Fourth Industrial Revolution. Chinese Premier Li Keqiang is expected to address the meeting. Leaders of Finland and Sweden are also expected to attend.

Industrial profi t in May

The National Bureau of Statistics ( NBS) is scheduled to release data on profi ts earned by China’s industrial fi rms in May on Tuesday.

The data covers profi ts earned by large companies with annual revenues of more than 20 million yuan ($ 2.93 million) from their primary business.

In April, industrial profi ts rose 14 percent from the year before to 572.78 billion yuan, according to the NBS.

Offi cial PMI data

China’s offi cial manufacturing purchasing managers index ( PMI) and nonmanufacturing PMI data for May are schedule to be released on Friday by the NBS.

The manufacturing PMI tracks activity at the factory gates, while the nonmanufacturing PMI measures services including retail, real estate and construction sectors.

In April, the offi cial manufacturing PMI fell to a six- month low of 51.8, while the nonmanufacturing PMI contracted to 54 from 55.1 in the previous month, according to the NBS.