Biz China Weekly: Fiscal revenue, rare earth quotas, ODI and stock market
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The following are the highlights of China's key business news from the past week:

FISCAL REVENUE

China's fiscal revenue rose 7 percent year on year to 3.91 trillion yuan (about 584 billion U.S. dollars) in the first two months of 2019.

The central government collected about 1.94 trillion yuan during the period, up 6.6 percent year on year, while local governments saw fiscal revenue up 7.4 percent to around 1.97 trillion yuan.

RARE EARTH QUOTAS

China announced the first batch of rare earth and tungsten mining output quotas for this year.

The first batch of quota for rare earth output totals 60,000 tonnes, about half the quota set for 2018. Of the total, 50,425 tonnes have been allocated for light rare earth output, with 9,575 tonnes for medium and heavy rare earth metals.

The first batch of mining output quota for tungsten is set at 49,835 tonnes.

ODI

Non-financial outbound direct investment (ODI) in 1,416 overseas companies in 138 countries and regions stood at 15.66 billion dollars in the first two months.

The value of new contracts signed in the period reached 22.98 billion dollars.

STOCK MARKET

During the past week, the benchmark Shanghai Composite Index rose 2.99 percent to end at 3,104.15 points.

Since the beginning of this year, the index has surged 24.47 percent from the end of last year.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan