Page 19 - China Economy

Majority of commodities exported to China record positive growth in 2023

As many as 90 principal commodities like iron ore, telecom instruments and electronic components exported to China have recorded a positive growth in 2023 out of the total 161 such goods shipped to the neighbouring country, according to commerce ministry data. These 90 commodities account for 67.7 per cent of India's export basket to China, while 71 products that have registered a negative export growth in 2023 constitute 32.3 per cent, the data showed. There are four commodities level where India has improved its export to China by more than USD 100 million in 2023. They are iron ore (216.8 per cent to USD 3.33 billion in 2023), cotton yarn (542.6 per cent to USD 611.17 million in 2023), spices (19.4 per cent to USD 132.26 million in 2023), and processed minerals (174.19 per cent to USD 129 million in 2023). For another fifteen products, the improvement in exports is in the bracket of USD 10 -100 billion. These goods include marine products, iron and steel, telecom instruments, ..

US govt to consider concerns about China's Brite in trade sanction list

The concerns were raised in a letter calling on the agency to sanction the company after Reuters reported in December that it was part-owned by blacklisted Chinese chipmaker SMIC

Fitch downgrades China outlook to negative on economic growth risks

China's factory output and retail sales topped forecasts in January-February, joining better-than-expected exports and consumer inflation indicators, providing an early boost to Beijing's hopes

As India's GDP growth speeds up, can it drive the global economy?

With China's growth slowing, India could become the new engine of global economic growth, but it will take strategic investments, increased labour participation, and more to achieve its ambitions

China pumps fresh $69 billion credit in tech sector for equipment upgrades

Country's central bank will provide loans through 21 banks to small and midsize technology companies at an interest rate of 1.75 per cent

Russia, China to maintain fight against terrorism, says Sergei Lavrov

"Our cooperation on counter-terrorism will continue, including within the framework of multilateral institutions," Lavrov said

Russia's foreign minister arrives in China to discuss Ukraine, Asia-Pacific

Hit with sanctions that closed access to Western markets and finances after sending its troops to Ukraine, Russia has since become China's fastest-growing trade partner

China solar industry faces challenges, but rock-bottom prices to persist

Overcapacity in China's solar industry is emblematic of the challenges facing the world's second-biggest economy

China's services activity growth accelerates in March as new biz rise

Taken together with the upbeat Caixin manufacturing PMI, the Caixin/S&P's composite PMI rose to 52.7 last month from 52.5 in February. It marked the highest reading since May 2023

India must focus on manufacturing to compete with China: EAM Jaishankar

To compete with China on the economic front, India should focus on manufacturing, a key sector which was ignored by governments before Prime Minister Narendra Modi came to power in 2014, External Affairs Minister S Jaishankar has said. Noting that tension at the border with China has caused "abnormality" in New Delhi-Beijing relations, he said India's thinking is absolutely clear that unless there is peace and stability in the border areas, the ties between the two Asian powers will not improve. "If we have to compete with China, which we should, then its solution is that we should focus on manufacturing here. Our approach towards manufacturing has changed after Modiji came to power. Before that, people did not give much emphasis on manufacturing," Jaishankar said during his interaction with industry leaders at a programme in Surat on Monday. There is no other way to counter China on the economic front, insisted the career diplomat-turned-politician while replying to questions from

Investors unwinding from strategy of 'buy India, sell China' stocks trade

The nascent swing highlights how funds are starting to buy into the narrative that China's policy support will be enough to revive growth

China's manufacturing activity increases for first time in six months

China has set a target to increase gross domestic product by about 5% this year

Taiwan tracks 6 Chinese naval ships, 4 military aircraft, deploys forces

Notably, so far in March, Taiwan has tracked 359 Chinese military aircraft and 204 naval vessels, according to Taiwan News

India must not brand itself with China-Plus-One tag: Experts at BS Manthan

There is no decoupling taking place between the West and China, say defence and foreign policy experts at Business Standard summit

China lifts tariffs on Australian wine, ends three years of punitive levies

Ties have improved significantly since last year, leading China to steadily lifting trade hurdles on Australian goods, including barley and coal

Sri Lankan PM Dinesh Gunawardena meets Chinese President Xi Jinping

Chinese President Xi Jinping has assured continuous support to Prime Minister Dinesh Gunawardena for Sri Lanka's efforts for political and socio-economic progress and also said Beijing will stand for safeguarding the island nation's territorial integrity and sovereignty. China and Sri Lanka agreed to continue to act under the friendship, peace, mutual respect and fivefold principle in international affairs that do not interfere in the internal affairs of a country during a meeting between Xi and Gunawardena on Wednesday at Great Hall in Beijing, the prime minister's office said in a statement here on Thursday. Chinese President assured continuous support of China to Sri Lanka's efforts for political and socioeconomic progress. The Chinese President said that China will always stand for safeguarding independence, territorial integrity and sovereignty of Sri Lanka, the statement said. It was emphasised that bilateral relations should be based on mutual respect and mutual productivity

China's industrial profits rise 10% showing signs of stabilising economy

Profits at China's industrial firms jumped 10.2 per cent in the first two months from the same period last year, following a 2.3 per cent profit decline for the whole of 2023

Govt initiates anti-dumping probe into import of aluminium foil from China

India has initiated an anti-dumping probe into the import of aluminium foil, used as a packaging material for conservation and preservation of edible and food products, from China following a complaint by domestic players. The commerce ministry's investigation arm, Directorate General of Trade Remedies (DGTR), is probing the alleged dumping of aluminium foil. Hindalco Industries, Shyam Sel & Power Ltd, Shree Venkateshwara Electrocast, Ravi Raj Foils, GLS Foils Product and LSKB Aluminium Foils have filed the application on behalf of the domestic industry seeking the probe. They have alleged dumping of the product from China. The directorate, in a notification, has said that the applicants have provided prima facie evidence with respect to the injury suffered by the domestic industry because of the dumped imports. "The authority hereby initiates an anti-dumping investigation into the alleged dumping and consequent material injury to the domestic industry," it said. If it is ...

US CEOs extend China stay after last-minute invite to meet Prez Xi Jinping

Late on Friday, China relaxed its rules governing cross-border data flows. The move was seen as a response to complaints by foreign businesses that the restrictions were disruptive

China under cyberattack, 100s of govt units and firms compromised: Report

China's Ministry of State Security warns that a foreign hacking group has infiltrated domestic business and govt units in preparation for large scale criminal activities