Page 9 - China Economic Growth

China's Communist Party to unveil new reforms to halt economic slowdown

China's ruling Communist Party headed by President Xi Jinping will begin its four-day key economic review meeting on Monday to finalise a new set of economic reforms to revitalise the country's economy hamstrung by the persistent slowdown that has sparked concerns at home and abroad. The meeting called the third Plenum to be attended by 376 full and alternate members of the Communist Party of China (CPC) Central Committee will meet from Monday to Thursday to primarily examine issues related to comprehensively deepening reforms and advancing Chinese modernisation, according to an official announcement earlier. The meeting to be presided over by President Xi who also heads the party aroused global attention as the world's second-largest economy worth USD 18 trillion was unable to shake off its slowdown mode, especially after the COVID-19 lockdowns. The party's powerful Politburo presided over by Xi finalised the draft for the discussion at the Plenum, CPC's top economic policy body on

China's exports exceed forecasts, declining imports point to more stimulus

The mixed trade data keeps alive calls for further government stimulus as the $18.6 trillion economy struggles to get back on its feet

China experiencing dramatic economic slowdown: Indian-American Congressman

Observing that China is experiencing a dramatic slowdown in its economy, an influential Congressman on Wednesday said Beijing has two paths going forward -- continue with its aggression against its neighbours or reform its economy and reduce aggression. "Essentially, China is experiencing a dramatic slowdown in its economy to the point where it might be on the verge of deflation in certain sectors in the economy. Consumer confidence has vanished. You are looking at youth unemployment of upwards of 25 per cent in a country with a one-child policy for decades. That is a very, very bad statistic," Indian-American Congressman Raja Krishnamoorthi told PTI in an interview. "It has racked up tremendous debt, especially at the provincial and local level, and then people's net worth, which is mostly invested in real estate, has fallen significantly. So right now, Xi Jinping, the paramount leader, finds himself in a position where his populist is experiencing severe economic pain," he said. T

China's industrial overcapacity has significant spillovers globally: US

China's industrial manufacturing overcapacity has significant spillovers around the world, the Joe Biden administration said on Wednesday, noting that addressing these challenges may warrant taking defensive action to protect firms and workers -- and the traditional toolkit of trade actions may not be sufficient. "We are growing concerned that China's enduring macroeconomic imbalances and non-market policies and practices pose a significant risk to workers and businesses in the United States and the rest of the world. We are worried that these features of China's economy can lead to industrial overcapacity that has significant spillovers around the world and can compromise our collective supply chain resilience, given the resulting over-concentration in some manufacturing sectors," Under Secretary for International Affairs Jay Shambaugh said. The United States, along with its allies and partners in developing economies and advanced economies alike, share mutual objectives to address

China a 'decisive enabler' of Russia's war in Ukraine: Nato alliance

In their most serious rebuke against Beijing, NATO allies on Wednesday called China a "decisive enabler" of Russia's war against Ukraine and expressed concerns over China's nuclear arsenal and its capabilities in space. The sternly-worded final communiqu, approved by the 32 NATO members at their summit in Washington, makes clear that China is becoming a focus of the military alliance. The European and North American members and their partners in the Indo-Pacific increasingly see shared security concerns coming from Russia and its Asian supporters, especially China. Beijing has denied that it supports Russia's war efforts and insists that it conducts normal trade with its northern neighbour. In the communiqu, NATO member countries said China has become a war enabler through its "no-limits partnership" with Russia and its large-scale support for Russia's defence industrial base. "This increases the threat Russia poses to its neighbours and to Euro-Atlantic security. We call on the PR

China's June consumer inflation misses expectations amid weak demand

Beijing has sought to revive consumption after a stuttering post-Covid recovery, but concerns are lingering over more fundamental issues including a protracted housing downturn

China's central bank tweaks liquidity ops amid strong bond demand

China's 30-year government bond yield rose 2.5 basis points (bps) following the PBOC statement, while 10-year yields were up around two basis points

What makes disconnecting trade ties with China expensive and challenging

The current global economic environment works against migration, standing in contrast to the increasingly tense geopolitical situation that adds urgency to decoupling

China's services activity growth hits 8-month low, shows Caixin PMI

Business confidence levels eased to the lowest level since March 2020 with concerns about the global economy and rising competition

What is China's planned financial stability law and how will it work?

The fund would cover systemically important financial firms that are "too big to fail", such as major banks and insurers

China's June new home prices rise at slowest pace in five months: Survey

The value of new home sales at China's top 100 real estate companies slid 41.6% in January-June from the same period a year ago

China's factory activity grows at fastest pace in 3 yrs, PMI rises to 51.8

Demand for consumer and intermediate goods was stronger than that for investment goods

Taiwan urges its citizens to avoid travel to China, Hong Kong, Macao

Taiwan has urged its citizens to avoid travel to China and the semi-autonomous Chinese territories of Hong Kong and Macao following threats from Beijing to execute supporters of the self-governing island democracy's independence. Spokesperson and deputy head of the Mainland Affairs Council Liang Wen-chieh issued the advisory at a news conference Thursday. That came amid growing threats from China, which claims Taiwan as its own territory to be annexed by force if necessary. China's threat to hunt down and execute hardcore Taiwan independence supporters follows the election of Lai Ching-te of the pro-independence Democratic Progressive Party as president. China has refused all contact with Taiwan's government since the election in 2016 of former president Tsai Ing-wen of the DPP, who refused to endorse Beijing's demand that Taiwan recognizes itself as a part of China, seen as a prelude to political unification between the sides. In response to the new guidelines related to the ...

A $100 bn bet on China's economy sours as warehouses, industrial hubs empty

Logistics hubs that were built in anticipation of a long-lasting boom in e-commerce, manufacturing and food storage are losing tenants, forcing building owners to slash rents

Rich Chinese spend millions on Shanghai's luxury property, defying crisis

Shanghai's luxury real estate market is a bright spot in China's bleak property sector

Unusual crisis in China: Lottery ticket shortage leaves people scrambling

Lottery ticket stores in China are reportedly running out of stock as young people flock to them in hopes of making easy money amid an uneven post-Covid economic recovery

Critical minerals, clean energy key focus as Chinese premier visits Aus

Perth is the capital of Western Australia state, which provided 39% of the world's iron ore last year. Iron ore is one of Australia's most lucrative exports

Fitch ups 2024 world growth forecast to 2.6%; cautions on inflation

However, for 2025, Fitch expects world growth to edge down to 2.4 per cent as US growth slows to a below-trend rate of 1.5 per cent and growth in the Eurozone picks up to 1.5 per cent

China's May industrial output lags expectations, retail sales a bright spot

The industrial data released on Monday by the National Bureau of Statistics (NBS) came in below expectations for a 6.0% increase in a Reuters poll of analysts

China's consumer inflation holds steady in May, factory deflation eases

Weak consumption in China has kept a lid on consumer prices since 2023 despite many rounds of support measures as confidence remains low in the face of a protracted property sector crisis