China's CPI rose 5.5% in May 2011, the highest in past 34 months. In response to the inflation, the People's Bank of China has raised the reserve-requirement ratio by 0.5% since 20 June 2011.
Last month's PMI slipped 0.9% to 52.0%, reflecting slower China's economic growth.
All sub-indices of PMI have declined, with a maximum decline of 5.9% for purchase price index.
In late May, CPCIA released the Development Guide of Petroleum and Chemical Industry for the 12th Five-Year period, aiming at stable growth, improved innovative ability, optimized industrial structure, and better energy conservation.
In this month, Mineral Deposits Limited has signed a MOU with Eramet to set up a new joint venture, which will take over its Senegal-based Grande Cote Mineral Sands project and Eramet's Norway-based Tyssedal mill. On 20 June 2011, Dongfang Titanium started a new sulfate rutile TiO2 project, which will expand its TiO2 production capacity and realize technology transformation.