Food industry on a healthy track in H1

China's food industry remained generally stable in the first half of the year, according to data from the Ministry of Industry and Information Technology. Retail sales of grain, oil and food reached 745.35 billion yuan ($107.85 billion), up 12.9 percent from a year ago. Sales of alcohol and tobacco stood at 172.61 billion yuan during the period, down 3.1 percent year-on-year. In June alone, the value-added industrial output of food manufacturers saw an increase of 1.3 percent year-on-year, while alcohol, beverage and refined tea manufacturers registered the same percentage growth. During the first half, profits of food companies with annual operating revenue of more than 20 million yuan totaled 270.6 billion yuan, rising 3.9 percent year-on-year.

Regulator approves 7 new IPO applications

China's top securities regulator has approved the initial public offering applications of seven companies. Shanxi Huaxiang Group Co Ltd, Ways Electron Co Ltd, Hangzhou Li-On Microelectronics Co Ltd, Zhejiang Gongdong Medical Technology Co Ltd, Zhongyan Technology Co Ltd, Qingdao Sentury Tire Co Ltd and Hunan Huawen Food Co Ltd will be listed on the A-share market, the China Securities Regulatory Commission said in a statement. The companies and their underwriters will confirm IPO dates and publish their prospectuses following discussions with the stock exchanges.

Xinhua