The Best Reads of the Week From Caixin

Important data signals about China’s economy came out this week.

China’s new economy — emerging higher value-added industries such as biotechnology — is humming, the Mastercard Caixin BBD China New Economy Index showed. But activity in China’s services sector weakened, a Caixin survey found.

Meanwhile, major Chinese internet stocks continued their surge, shooting up to all-time highs this year.

Apple wasn’t so fortunate. It saw its second-quarter revenue slide in China — the only region where Apple’s revenue fell for the quarter.

And in Chinese theaters, thanks to a cast of teen heartthrobs, a new flick about the early days of the People’s Liberation Army has turned out to be a hit with young moviegoers.

These are the five stories from the week that I don’t want you to miss.

Please share your comments to me on our recently launched The Weekender section and our other coverage at news@caixin.com.

Kind regards,

Deb Price

Managing editor of Caixin Global

China New Economy Index Rises to Three-Month High

Emerging industries including new energy, advanced manufacturing make bigger contribution to the economy in July

Intelligent robots are sold in a Suning appliance store in July in Qingdao, Shandong province. Photo: Visual China

China Services Activity Softens in July, Caixin Survey Shows

Weaker new business, sluggish hiring weigh on growth in services sector, with business expectations gauge falling to lowest in eight months

A hair stylist curls a woman's hair in a salon in Shanghai on July 10, 2012. Photo: Visual China

Rebounding Steel Sector Forges Strengthening Profits

Manufacturers post nearly $6 billion in profits during the first five months of 2017, as prices continue to climb from lows during 50-month downturn

Major steel manufacturers earned a collective 40.3 billion yuan in profits in the five months through May, well above what they earned for all of 2016. Above, a worker polishes a steel mold at Dalian Special Steel Co. on July 10. Photo: Visual China

China Leaves Lone Bruise on Apple’s Earnings

Market was sole region where iPhone maker’s revenue fell for quarter, sliding 10% to $8.04 billion

Apple Inc.’s revenue in China slid 10% year-on-year to $8.04 billion, as the nation's customers shun the latest iPhone model. Above, customers crowd outside the Apple Store in Nanjing, Jiangsu province, on March 25. Photo: Visual China

Young Moviegoers March to See Teen Heartthrobs Depict Chinese Military’s Early Days

‘The Founding of an Army’ boasts big action scenes and star-studded cast, but some worry doing so dishonors People’s Liberation Army’s first soldiers

Teen idol Liu Haoran plays Su Yue, one of the leaders of People's Liberation Army of China, in the blockbuster film “The Founding of An Amy." Photo: IC