Page 10 - China Economy

Chinese GDP gets little cheer, while dollar rises for straight third week

China's economy expanded 4.6 per cent in the third quarter from a year earlier

Will China's new $550 billion loan measure revive slumping property market?

China's central bank is contemplating additional measures to stimulate the country's property sector, including allowing policy banks and commercial lenders to provide loans to developers

Fund managers pare India allocation in favour of China: BofA survey

Foreign investors have taken out nearly $8 billion from Indian equities so far in October, on track to be the largest outflow since March 2020 at the peak of the pandemic fears

China seeks 'targeted security measures' for its citizens in Pakistan

Two countries are entering into second phase of the CPEC program, part of China's Belt and Road initiative, that Islamabad expects will lead to relocation of Chinese export industries to Pakistan

China may raise $850 bn in new debt over 3 years to spur growth: Report

While not the bazooka some investors had been calling for, analysts say 6 trillion yuan in extra debt in the next three years could help stabilise growth

China's finance minister says room for economic stimulus but offers no plan

The Chinese government is looking at additional ways to boost the economy, Finance Minister Lan Fo'an said Saturday, but he stopped short of unveiling a major new stimulus plan that analysts and stock investors were hoping for. Lan's remarks left the door open for such a plan in the future but he did not divulge what is under consideration. There are other policy tools that are being discussed that are still in the pipeline, he said at a news conference, adding that there is ample room in the government budget to raise debt and increase the deficit. China's economy has remained sluggish despite the lifting of COVID-19 restrictions at the end of 2022. Companies have cut back on hiring and wages and a prolonged downturn in the property market has deflated consumer confidence, curbing spending. The government has raised pensions and offered subsidies to people who trade in old cars or appliances for new ones, but such steps have failed to jolt economic growth. Chinese stock markets .

China shores up its property sector, signals more spending is coming

Local governments will be allowed to use special bonds to buy unsold homes, Finance Minister Lan Fo'an announced

Chinese stocks suffer biggest drop since 2020 on stimulus skepticism

The CSI 300 Index plunged 7.1 per cent, erasing its advance from Tuesday, when mainland markets reopened after the Golden Week holidays

China announces more support for economy, holds back on spending package

China's economic planning agency outlined details of measures aimed at boosting the economy on Tuesday but refrained from major spending initiatives. The piecemeal nature of the plans announced Tuesday appeared to disappoint investors who were hoping for bolder moves, and Shanghai's benchmark gave up a 10 per cent initial gain as markets reopened after a weeklong holiday to trade just 3 per cent higher. The head of the National Development and Reform Commission said the government will frontload 100 billion Yuan (USD 14.1 billion) in spending from the government's budget for 2025 in addition to another 100 billion Yuan for construction projects. The scale of spending overall was well below the multi-trillion Yuan levels that analysts said might be expected. The NDRC's chairman, Zheng Shanjie, said China was still on track to attain its full-year economic growth target of around 5 per cent. But he acknowledged the economy faces difficulties and an increasingly more complex and extre

China is 'fully confident' of achieving economic, social goals in 2024

To support local governments, China will issue 100 billion yuan ($14.12 billion) from next year's central budget and another 100 billion yuan for key investment projects by the end of this year

Goldman upgrades call on Chinese stock on positive impact of stimulus blitz

Gauges tracking the nation's equities may rise another 15 per cent-20 per cent if authorities deliver on policy measures, strategists including Tim Moe wrote in a note dated Oct. 5

China firms plan up to $15 bn in overseas bond issues in Q4, say bankers

Ratings agency Fitch said in a report this week that China's move to loosen the country's credit conditions was at a faster pace than it had anticipated

Chris Wood trims India exposure; says geopolitics biggest risk to markets

A deterioration in the geopolitical situation is the biggest risk to global equity markets, Wood said, which he believes is not yet fully discounted by them

IMF 'too polite' on China policies, assurances: US Treasury official

IMF last week approved a $7 billion program for Pakistan that included financing assurances from China, Saudi Arabia and the United Arab Emirates, but declined to provide details on the assurances

China marks 75 yrs of CCP rule; economic, security challenges linger

In recent decades, China has mounted military parades and displays of the country's economic might only at the turn of decades, such as for the 60th and 70th anniversaries

Big, but not enough: China's stimulus package may not be effective

Raising wages, opening up the domestic consumer market to foreign goods, and enhancing the social welfare net are the usual recommendations of economists

Global investors call time on their exodus from China, ready to stake bets

China's factory activity shrank for a fifth straight month and the services sector slowed sharply in September, suggesting Beijing may need to move urgently to meet its 5 per cent 2024 growth target

Painful policy choices loom after China's monumental consumer stimulus plan

China's household spending is less than 40 per cent of annual economic output, some 20 percentage points below the global average

EV sales by Chinese carmakers BYD, SAIC in Europe lowest since Feb 2023

European automakers have called on Brussels to reconsider key climate targets including 2025 fleet-emissions goals that could lead to billions of euros in fines

PBOC lowers interest rates, injects liquidity into the banking system

People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5 per cent reserve ratio.