Page 13 - China Economic Growth

India to drive Asia Pacific growth as China's fortunes wane, says S&P

On the other hand, China's growth is projected to slow to 4.6 per cent in 2026 from 5.4 per cent in 2023

Gold bars and Tokyo apartments: How money is flowing out of China

Chinese are using their savings to buy overseas apartments, stocks and insurance policies

China economy shows sparks of life despite weakness in real estate sector

China's economy showed more signs of reviving in October as retail sales and manufacturing picked up though the property sector remained sluggish, the government said Wednesday. Factory output rose 4.6% from a year earlier in October, while retail sales jumped 7.6%, helped by robust spending during the weeklong National Day holidays. But real estate investment sank 9.3%, and officials acknowledged that the industry was still in the midst of adjustment, after a crackdown on excessive borrowing by developers two years ago, coupled with the pandemic, plunged the industry into crisis. Disruptions to manufacturing, transport, travel and virtually every other aspect of life during the pandemic ended nearly a year ago when China's leaders abandoned their zero-COVID policies aimed at preventing infections. So improved economic data from October also reflect lower rates of growth a year earlier. Overall, China's recovery from the pandemic has been fitful, though recently activity has revive

China's economy likely struggled to gain traction despite stimulus

That dynamic will be most evident in retail sales data, which is expected to show a 7 per cent jump year-on-year as it compares to pandemic and lockdown-hit 2022

Worried Chinese shoppers' restraint dims singles' day shopping extravaganza

Shoppers in China have been tightening their purse strings, raising questions over how faltering consumer confidence may affect Saturday's annual Singles' Day online retail extravaganza. Singles Day, also known as Double 11, was popularized by e-commerce giant Alibaba. In the days leading up to the event, sellers on Alibaba and elsewhere often slash prices and offer enticing deals. Given prevailing jitters about jobs and a weak property market, it's unclear how this year's festival will fare. A Bain & Company survey of 3,000 Chinese shoppers found more than three-quarters of those who responded plan to spend less this year, or keep spending level, given uncertainties over how the economy is faring. That includes people like Shi Gengchen, whose billiard hall business in Beijing's trendy Chaoyang district has slowed. The current economic situation is lousy and it has affected my business, there are fewer customers than before, said Shi, adding that his sales are just 40% of what ...

Chinese auto sales surged 10% in Oct, records fastest growth since May

Sales of passenger cars rose 10.2% in October over a year earlier, an industry association said Wednesday, as makers ramped up promotions and customers opted for electric and hybrid vehicles. Sales of electric and hybrid vehicles climbed 37.5% from a year earlier, accounting for 767,000 of the 2.03 million vehicles sold in October, the China Passenger Car Association said. Exports of passenger cars jumped nearly 50% to 391,000 units in October and have risen 66% this year, to just over 3 million units. The robust improvements partly reflect slow growth a year earlier, when China was grappling with factory shutdowns and other disruptions from the COVID-19 pandemic. Demand for vehicles also tends to be stronger in September and October, which are dubbed the nine silvers and 10 golds," the report said. So far this year, auto sales in China have climbed 3.2% to just under 17.3 million units. The report said Tesla delivered 47,164 Model Y vehicles and 24,951 Model 3s made at its Shangh

Southeast Asia woos Indians with more flight seats and free visas

What was striking about Q3 2023 was that the number of airline seats between China and southeast Asia was 53 per cent of the 2019 levels, or 4.24 million seats

China's manufacturing activity returned to contraction in Oct, shows data

Policymakers have since June unveiled a raft of measures to shore up growth, including modest interest rate cuts, increased cash injections and more aggressive fiscal stimulus

China's economic growth beats forecasts as consumer spending improves

Gross domestic product increased 4.9 per cent in the July-September period from a year prior, data released by the National Bureau of Statistics showed Wednesday

China warns EU steel probe will disrupt global supply chains, push up costs

The European Commission recently launched an investigation to decide whether to impose punitive tariffs to protect EU producers against cheaper Chinese electric vehicle imports

China's manufacturing activity expands for first time since March

Along with looser monetary policy, the country has also seen an uptick in local government borrowing for infrastructure as authorities look for ways to support growth

China's growth target hangs in balance while economists cut forecasts

"The real estate sector will continue to be under mounting pressure" despite recent government efforts to support property, said analysts at Poseidon Partner

A holistic approach can grab space vacated by China in textile sector: SIMA

Textile and clothing sectors must have a holistic approach with a long-term vision to seize the opportunity in the global market, industry officials said on Saturday. Textiles and clothing industries are the second largest employment provider after agriculture generating Rs 30,000 crore as Goods and Services Tax revenue and USD 44 billion foreign exchange earnings, officials of Southern India Mills' Association said. The industries have been facing challenges in the recent past mainly due to structural issues on the raw material front, high cost of production, scale of operation among others, SIMA Chairman S K Sundararaman said. The Association would strive to address structural issues and enhance global competitiveness, he said. According to association officials, the NDA government has been giving major thrust for enhancing the global competitiveness of the textiles and clothing industry and addressed several issues. "However, the policy pitfalls in certain areas and delay in ..

China's short-term economic prospects doesn't mean it is out of the woods

A healthy Chinese economy is a prerequisite for a solid and durable world expansion. Better a month of reasonably good data than another installment of doom and gloom

China factory output, retail sales figures give boost to recovery prospects

The upbeat data suggest that a flurry of recent measures including property support policies to shore up a faltering economic recovery are starting to bear fruit

Why the West fears China

The book is a vital read because it moves away from the current body of literature that posits China as the "bad boy" by negating the expectations of the West...

Global oil prices up due to tighter supply, China economy in focus

U.S. West Texas Intermediate crude futures gained 10 cents, or 0.13 per cent, to $81.74

UK Foreign Secretary to visit China today, will raise human rights issues

This is the first visit of a UK Foreign Secretary to China in over five years

China pledges to speed up fiscal spending to boost economy: Report

Finance Minister Liu Kun and Zheng Shanjie, chairman of the National Development and Reform Commission, made pledges in reports to the country's legislature, according to official Xinhua News Agency

Statsguru: Six charts show China's economic recovery is weakening

The country has previously depended on debt-fuelled infrastructure spending to po­wer growth. Indebtedness weighs heavier when growth slows down