Page 18 - China Economy

China to announce new measures to fix its property crisis, spur growth

Housing prices in China slumped in the first four months of the year, although factory output rose nearly 7%, according to data released Friday, as the country prepares to announce fresh measures to reinvigorate its ailing property industry. Officials of the National Bureau of Statistics acknowledged that domestic demand spending by consumers and businesses remained insufficient and said the government was considering further ways to revitalize the property industry after housing prices sank 9.8% in January-April from a year earlier. Liu Aihua, spokesperson for the bureau, said that in keeping with policies set by the Communist Party leadership, there was a need to find ways to balance supply and demand, meet public expectations for high-quality housing and seize the opportunity to build a new model of high-quality development of the real estate sector. The State Council, China's Cabinet, said it would hold a news conference later Friday focusing on the property industry. China's

China's annual oil refinery output falls for first time in 20 months

The 3.3 per cent fall was the first year-on-year decline since August 2022

China's April industrial output rises 6.7% as manufacturing gathers pace

However, retail sales, a gauge of consumption, rose 2.3% in April, slowing from a 3.1% increase in March

Too many unsold homes? China considering govt purchases to ease glut

Local state-owned enterprises would be asked to help purchase unsold homes from distressed developers at steep discounts using loans provided by state banks, according to two of the people

Research reports on China's bad lending data disappear on social media

At least seven research reports from mainland brokerages and securities firms that had been posted to WeChat by analysts were unavailable for viewing

Asia stocks brace for US inflation test, Chinese data to test optimism

There are also reports Chinese authorities are laying the groundwork for a sale of 1 trillion yuan ($138.39 billion) in longer-dated bonds to help fund stimulus spending at home

China's 2024 iron ore imports seen to be around 1.17-1.18 bn metric tons

China's iron ore imports in the first quarter of 2024 totalled 310.13 million tons, up 5.5 per cent from a year earlier, customs data showed

China vows reforms at long delayed party conclave amid challenging economy

The central committee typically holds seven plenums between party congresses, which are held once every five years

Stocks in Asia inch higher, Yen wobbles after volatile start to week

China stocks were mixed in early trading with the blue-chip index easing 0.07%, while Hong Kong's Hang Seng index was up 0.5%

China leaves benchmark lending rates unchanged in line with expectations

The one-year loan prime rate (LPR) was kept at 3.45 per cent, while the five-year LPR was unchanged at 3.95 per cent

Quality Control Orders: What do they mean for the domestic industry?

India believes developed countries and China use quality control orders as a trade barrier, and seeks to play catch-up

China's March coal output drops 4.2% amid oversupply, weak demand

Averaged out against expected production increases by some other provinces, China's total output will be about 1 per cent higher in 2024, an industry group has forecast

China's Q1 GDP growth likely to slowdown, policymakers plan stimulus

The People's Bank of China (PBOC) has pledged to step up policy support for the economy this year and promote a rebound in prices

Hong Kong must hold national security line to ensure development: China

Hong Kong in March enacted a new national security law, also known as article 23, that updates or introduces new laws to prohibit treason, sabotage, sedition

Taiwan detects 14 Chinese military aircraft, 8 naval vessels around nation

So far this month, Taiwan has tracked Chinese military aircraft 85 times and naval vessels 71 times

China holds talks with N Korea in nations' highest-level meeting in years

A top Chinese official arrived in North Korea and held talks on how to boost their cooperation, North Korea's state media reported on Friday, in the counties' highest-level meeting in about five years. Zhao Leji, who is chairman of China's National People's Congress and considered the No. 3 official in the ruling Communist Party, arrived in North Korea on Thursday. China's government earlier said he will stay in North Korea until Saturday. Zhao met his North Korean counterpart Choe Ryong Hae later on Thursday and discussed how to promote exchanges and cooperation on all areas such as politics, economy and culture, the North's official Korean Central News Agency reported. The two also exchanged views on unspecified regional and international issues of mutual concerns, KCNA said. Zhao is one of the seven members of the Politburo Standing Committee, the Communist Party's top leadership body headed by Chinese leader Xi Jinping. Zhao's visit to North Korea marked the first bilateral ..

China's consumer prices rise for 2nd month, factory deflation persists

Persistent declines in factory-gate prices and export prices, meanwhile, have added to tensions with China's biggest trading partners

Goldman, Morgan Stanley raise China's 2024 growth outlook as exports rise

The world's second-largest economy has struggled to regain momentum as the property sector and consumer spending remain weak

China's strongman party

The author was one of the journalists who has been at the receiving end of Xi Jinping's tightening control over media

China vows strong support for equipment, consumer goods trade-in plans

Last month, China's cabinet issued an action plan containing detailed measures to promote an initiative designed to boost investment and consumption