Numbers of the Week

561.8 billion

Insurance premiums nationwide totaled 561.8 billion yuan ($83 billion) in the first half of the year, an increase of more than 50 percent from the year-earlier period.

253 million

At the end of June, the number of Chinese Internet users reached 253 million. This represented the largest number of netizens among all countries.

TO THE POINT: The Chinese Government, concerned about the stumbling domestic stock markets, has repeatedly emphasized the importance of "maintaining stability." China National Petroleum Corp. reported losses in its oil refinery business during the first half of the year. Domestic consumption, a major pillar of economic growth, rose substantially in June, up 23 percent year on year. Dabao, a well-known Chinese cosmetics brand, was officially acquired by Johnson & Johnson. China now plans to spend more money to help small and medium-sized companies boost employment.

By LIU YUNYUN

Applauding Rising Consumption

Though exports fell in June, China's consumption rose substantially. Retail sales hit 864.2 billion yuan ($126.5 billion) that month, jumping 23 percent year on year and marking the biggest monthly surge in a decade. The growth rate was 7 percentage points higher than in June 2007.

Retail sales stood at 5.1 trillion yuan ($747 billion) nationwide during the first half, up 21.4 percent, or 12.9 percent in real terms.

Rising income (which grew 18 percent in the first half year on year), additional allowances for low-income earners resulting from the new labor law, and rising welfare payments to the poor by local governments all contributed to the consumption growth.

Consumption in June grew 14.8 percent, if adjusted for inflation, while consumption in the first half of the year increased 12.9 percent in real