Page 14 - China Economy

BASIC bloc slams rich countries for 'leadership void' on climate change

They called on developed countries to set ambitious new targets to reach net-zero "significantly ahead of 2050 (and) preferably by 2030" and to achieve "net-negative" emissions immediately after that

Myanmar violence tops discussion as Southeast Asian diplomats meet in Laos

Southeast Asian foreign ministers and top diplomats from key partners including the United States and China were gathering in the Laotian capital on Thursday for the start of three days of talks expected to focus on the increasingly violent civil war in Myanmar, tensions in the South China Sea and other regional issues. U.S. Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi are expected to hold one-on-one talks on the sidelines of the meetings of the Association of Southeast Asian Nations in Vientiane, which come as both Beijing and Washington are looking to expand their influence in the region. Lao Foreign Minister Saleumxay Kommasith thanked ASEAN members and partners for their unwavering collective effort that has led to its past achievements and emphasized the importance of the bloc's continuous work to promote peace and stability. In light of the rapid and complex geopolitical and geoeconomic changes, we need to further enhance ASEAN centrality and unity so

Nvidia preparing variant of new flagship AI chip for Chinese market

China accounted for around 17 per cent of Nvidia's revenue in the year to end-January in the wake of US sanctions, sliding from 26 per cent two years earlier

Chinese officials expect bumpy road in economic policy implementation

Officials made a raft of pledges, from modernising the industrial complex to expanding domestic demand

China at the crossroads

Geopolitical equations as seen by China do not, as yet, seem to justify a more accommodating posture towards India

'Luxury shame' hits China's luxury market as elites dial down on austerity

The elite in the Land of the Dragon are refraining from ostentatious purchases, putting the nation's luxury market under strain

China unveils plans to tackle property crisis, focus on affordable housing

Cities across China have only just started to release statements on their efforts to implement the May directive, with details of the targeted population groups emerging for the first time

China's Q2 growth misses expectation, prompts urgent economic policy review

China's economic growth in the second quarter fell short of expectations at 4.7%, with weak consumption and property data prompting policymakers to convene a key economic meeting

China's economy grows slower than expected on weak demand, job insecurity

The government is aiming for economic growth of around 5.0% for 2024, a target that many analysts believe is ambitious and may require more stimulus

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 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 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 car sales slide in June, falling for third straight month

June sales of so-called new energy vehicles including pure electric vehicles and plug-in hybrids accounted for a record 48.1 per cent of domestic car sales

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

Xi's China proves a hard sell as officials seek investments overseas

Global investors see the investment pitch with skepticism, partly due to Xi Jinping's policies

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 shrinks for 2nd time in June in warning to economy

Meanwhile, the non-manufacturing measure of activity in construction and services fell to 50.5, the statistics office said. That compares with a forecast of 51, and a May reading of 51.1

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