Page 14 - China Economic Growth

PM Modi warns of new colonialism model over control of critical minerals

China accounted for 70% of world mine production of rare earths in 2022 and is home to at least 85% of global processing capacity

China has made its housing crisis worse, has houses to meet 7 years' demand

China has made its housing crisis worse. The country has enough new apartments to meet seven years' worth of demand. This can cripple the country's economy, as per the New York Times

Jindal Steel, JSW, Vedanta: Nifty Metal dips over 1% on China slowdown woes

Jindal Steel, Welspun Corp, JSW Steel, and Vedanta led the losses, dropping 2 per cent each. NMDC, National Aluminium, Hindalco, Jindal Stainless, Tata Steel and SAIL lost up to 1.5%

Evergrande's bankruptcy highlights China's real estate crisis: Experts

The filing for bankruptcy by Evergrande, Chinese real estate giant signals the beginning of Beijing's real estate crisis, CNN reported on Friday.

China appears to be building an airstrip on disputed South China Sea island

China appears to be constructing an airstrip on a disputed South China Sea island that is also claimed by Vietnam and Taiwan, according to satellite photos. The work on Triton island in the Paracel group mirrors construction on seven human-made islands in the Spratly group to the east which have been equipped with airstrips, docks and military systems, although it currently appears to be somewhat more modest in scale. China claims virtually the entire South China Sea as its own, denying the claims of others and defying an international ruling invalidating its assertion. Satellite photos from Planet Labs PBC analysed by the by The Associated Press show construction on the airstrip first visible in early August. News website The Drive first reported on the satellite images Tuesday. The runway, as currently laid out, would be more than 600 meters (2,000 feet) in length, long enough to accommodate turboprop aircraft and drones, but not fighter jets or bombers. Also visible are large .

Morgan Stanley cuts China's 2023 economic growth forecast to 4.7%

Earlier this week, J.P.Morgan cut China's 2023 GDP growth forecast to 4.8 per cent from 5 per cent earlier, while Barclays cut it to 4.5 per cent

China skips update on surging youth unemployment as economic slump deepens

China's government skipped giving an update on a politically sensitive spike in unemployment among young people as official data Tuesday showed an economic slump deepened in July. Meanwhile, the central bank unexpectedly cut a key interest rate in a sign of growing official urgency about shoring up economic growth that fell sharply in the three months ending in June. Youth unemployment is sensitive after a survey in June found a record 21.3 per cent of potential urban workers aged 16 to 24 couldn't find work after an economic rebound following the end of anti-virus controls fizzled out. Publication of unemployment by age group is suspended while the National Bureau of Statistics considers how it measures data, according to a bureau spokesperson, Fu Linghui. Fu said a survey found overall unemployment among urban workers was 5.3 per cent, up 0.1 percentage points from June. The employment situation is generally stable, Fu said at a news conference. Growth in consumer spending ...

Oil prices up as China cuts rates twice in 3 months to support economy

Brent crude futures rose 11 cents, or 0.1%, to trade at $86.32 per barrel at 0414 GMT. U.S. West Texas Intermediate crude was up 7 cents, also 0.1%, to $82.57 a barrel

China's premier says economic growth accelerating, can hit its 5% target

China's No. 2 leader said Tuesday that economic growth accelerated in the latest quarter and expressed confidence it can hit the ruling Communist Party's official target of 5 per cent for the year. Premier Li Qiang, speaking at a conference in the eastern city of Tianjin, gave no figure for the three months ending in June but said it was faster than the previous quarter's 4.5 per cent. The world's second-largest economy rebounded from 2022's unusually weak 3 per cent growth following the end of anti-virus controls on travel and business activity. But that faded faster than expected. Consumer and factory activity weakened in May and record-setting youth unemployment spiked up. It is expected that the second quarter will be faster than the first quarter, Li said at the World Economic Forum. We expect to achieve the economic growth rate of about 5 per cent determined at the start of the year. Private sector forecasters expect China's economic output to grow by at least 5 per cent this

Four major western banks cut China's 2023 GDP forecast as recovery falters

UBS, Standard Chartered, Bank of America (BoA) and JPMorgan now expect China's GDP growth to be between 5.2% and 5.7% this year, down from an earlier range of 5.7% to 6.3%

The Chinese govt wants the youth to marry, but they don't see the point

There was a downfall of 800,000 in the number of weddings in 2022 when compared with 2021

Street Signs: IPO market to feel June burn, No mountain too high for Nifty

The initial public offering (IPO) market has yet to benefit from the gains in the secondary market in recent months. The IPOs of IKIO Lighting and JG Chemicals may hit the market next month

China's factory activity contracts as economy struggles to sustain momentum

A non-manufacturing gauge of activity in the services and construction sectors declined to 56.4 from 58.2 in March

China's factory activity contracts as economy struggles to sustain momentum

A non-manufacturing gauge of activity in the services and construction sectors declined to 56.4 from 58.2 in March

US firms prioritize others over China: American Chamber of Commerce China

The survey was conducted between April 18 and 20 and was published in the 2023 American Business in China White Paper on Wednesday

Biden's economic diplomacy push with China sends high risk, low reward

The author, citing officials, said that Biden seeks another meeting with Chinese President Xi Jinping to follow up on their confab last November in Bali, Indonesia

China urges banks to further cut deposit rates to channel savings pool

The guidance comes as banks and the economy groan under the weight of huge inflows of savings and deposits

China's consumer-driven growth gives boost to economy worldwide

Gross domestic product expanded 4.5% last quarter from a year earlier, official data showed Tuesday, beating economists' expectations

China's semiconductor imports drop 23% as US, India bolster manufacturing

As the US and India bolster local semiconductor manufacturing, China's chip imports nosedived 23 per cent in the first quarter of 2023, the media reported on Friday.

Oil mixed amid weak China economic data, sustained hopes for 2023

Oil prices were mixed on Tuesday after China posted its weakest economic growth in nearly half a century, while its late-22 U-turn in Covid policy