Page 11 - China Economy

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.

China's industrial profit growth swings back to decline in August

Profits plunged 17.8 per cent in August from a year earlier following a 4.1 per cent increase in July

China to give one-off cash handouts for poor people in rare use of aid

While amount is unknown, deployment of one-time handouts within such a short period of time appears to be a departure for a government that has long eschewed what President Xi Jinping calls welfarism

China plans to add capital at big banks for first time in a decade

The plan included a broad-based cut to existing mortgage rates, adding to pressure on banks by lowering annual interest expenses by about 150 billion yuan ($21 billion)

Hard brake: Why have China's car dealers lost nearly $20 billion this year?

The mounting losses have created severe cash flow issues for car dealerships in China, who are struggling to sell large inventories of unsold vehicles

Economists urge China to ramp up housing rescue package to propel growth

The years-long real estate slump that's wiped out an estimated $18 trillion in wealth from households has been the single biggest challenge faced by the Chinese economy

Taiwan questions head of pager firm linked to recent Hezbollah blasts

Another person also seen leaving the prosecutors office was Teresa Wu, the sole employee of a company called Apollo Systems Ltd, who did not speak to reporters as she left the prosecutors

China's deepening economic slowdown tests Xi's tolerance for growth miss

Pressure is growing on Chinese authorities to quickly ramp up fiscal and monetary stimulus to hit this year's growth target