Business briefs from the Chinese media — Friday September 16

Over $6 billion lost to natural disasters in August: According to the Ministry of Emergency Management, drought, floods, and extreme weather including typhoons, earthquakes, and forest fires last month left a total of 94 people dead or missing, and caused direct economic losses of 42.97 billion yuan ($6.15 billion).

Consumer sales up: The National Bureau of Statistics reports that total retail sales of consumer goods in August were 3.62 trillion yuan ($519.04 billion), a year-on-year increase of 5.4%. From January to August, total retail sales of consumer goods were 28.25 trillion yuan ($4.04 trillion), a year-on-year increase of 0.5%.

Another chip ‘madman’ arrested: In the government’s ongoing campaign against corruption in the heavily subsidised semiconductor industry, yesterday, Rén Kǎi 任凯, vice president of Sino-Ic Capital 华芯投资管理, which managed the National Integrated Circuit Industry Investment Fund 国家集成电路产业投资基金股份, was taken away by police. Ren was a close associate of Lù Jūn 路军, who was arrested in July.