Page 20 - China Economy

US presidential polls: In Trump-Biden rematch, the only sure loser is China

Tariffs were Trump's weapon of choice early on, but as China policy hardened he expanded the arsenal

Nissan shares plummet 11.7% as Q3 earnings highlight China worries

That helped the automaker increase sales by 19% year-on-year to 247,000 vehicles in the final three months of last year, he said

China's central bank projects 'modest' rebound for consumer prices

In its policy report, the PBOC vowed to step up policy coordination and support consumption as well as investment, so prices stay within a reasonable range

India, China have strong economic, cultural connections says Chinese envoy

Chinese Consul General in Mumbai Kong Xianhua has said the economic and cultural connections between the people of China and India are so strong that nothing and nobody could push them apart. Kong was addressing a gathering on Friday on the occasion of the Chinese New Year Reception and Chinese Cultural Festival in Mumbai. He said that 2023 marked a year of achievements and harvest for both China and India. "It is the extensive cooperation between our people that makes it happen," he said. The China-India trade volume surpassed 136.2 billion dollars in 2023, he said. The Chinese Embassy and its Consulates-General in India have issued more than 1.8 lakh visas in the last year, showing a new high of Indian visitors to China after the pandemic, he said. One of the biggest news in Mumbai these days is that the Coastal Road is set to open this month, he said. "It is worth noting that the tunnel under Malabar Hill (in south Mumbai), the hardest part of the project, was built with a Ch

IMF predicts China to witness economic decline over next 4 years: Report

In a report released on Friday, the IMF projected that China's economic growth will reduce to 4.6 per cent this year, down from its 5.2 per cent growth in 2023

China unveils property support measures amid Evergrande fallout concerns

The latest measures add to a string of policies deployed by the world's second-largest economy over the past year to help revive the property sector, which accounts for a quarter of China's GDP

China merges hundreds of rural banks amid looming financial crisis

After engineering mergers of rural cooperatives and rural commercial banks in at least seven provinces since 2022

China's factory activity shrinks again in January, demand still weak

The composite PMI, which includes manufacturing and services, was at a four-month high of 50.9 in January compared with 50.3 the previous month

Oil prices fell due to weak economic activity in leading importer China

Brent crude futures for March, which expire today, fell 90 cents, or about 1.1%, to $81.97 a barrel by 1530 GMT. The more actively traded April contract was down $1.17, or about 1.2%, at $81.33

Taiwan CAA protests China's unilateral adjustment of flight routes

Taiwan's Civil Aviation Administration (CAA) protested China's unilateral adjustment of flight routes close to the median line of the Taiwan Strait on Tuesday

Evergrande creditors to recover just fraction of debt after liquidation

Almost all of Evergrande's assets are in mainland China, presenting legal hurdles for non-Chinese administrators

India, China banks under pressure from different liquidity stories

The liquidity drought may be deliberate. Unlike Beijing, New Delhi has every reason to be sanguine about growth

China doubles down on moves to mend its economy, fend off financial crisis

China's leaders launched a barrage of new policies this week to prop up languishing financial markets and rekindle growth in the world's second-largest economy. The moves to support lending and spending with billions of dollars of fresh cash gathered pace when the central bank cut bank reserve requirements and issued new rules to encourage banks to lend more to property companies. A collapse in China's real estate market has been one of the key factors hindering the country's recovery from the shocks of the COVID-19 pandemic. What's at stake: stable financial markets and a major driver of global economic growth. HOW IS THE CHINESE ECONOMY DOING? The Chinese economy grew at a 5.2% annual pace in 2023, exceeding the government's target, and many indicators including factory output and retail sales show signs of improvement. But most economists are forecasting a slowdown this year and next that will drag on global growth. Meanwhile, Chinese stock markets have swooned since late 2023,

China cuts bank reserve needs, boost property lending to support economy

China's central bank said Wednesday it will cut the ratio of reserves banks must hold as part of a slew of measures to support the slowing economy. The announcement by the People's Bank of China prompted a surge in share prices, with Hong Kong's benchmark jumping 3.6%. Chinese stock markets have languished in recent months as investors pulled money out, discouraged by a faltering recovery from the shocks of the COVID-19 pandemic. A sell-off earlier in the week was followed by unconfirmed reports that the government planned to get state-owned investment companies to funnel offshore funds into the markets to help staunch the losses. The central bank's moves appear to be part of a concerted effort to stabilize the markets and instill greater confidence in the outlook for the world's second-largest economy. Central bank Gov. Pan Gongsheng said the deposit reserve requirement would be cut by 0.5 percentage points as of Feb 5. Pan said that would inject about 1 trillion yuan (USD 141 ...

China cuts reserve requirements for bank to help boost its slowing economy

China's central bank said Wednesday it will cut the ratio of reserves banks must hold to help boost the slowing economy. The announcement by the People's Bank of China prompted a surge in share prices in Chinese markets, with Hong Kong's benchmark jumping 3.6%. Central bank Gov. Pan Gongsheng said the deposit reserve requirement would be cut by 0.5% as of Feb. 5. Pan said that would inject about 1 trillion yuan ($141 billion) into the economy. He told reporters in Beijing that the central bank also soon plans to issue a policy on lending to property developers to help support the industry.

China establishes diplomatic ties with Nauru after it cuts ties with Taiwan

China's Foreign Ministry said Wednesday that Beijing has formally restored diplomatic relations with Nauru after the tiny Pacific island nation cut its ties with Taiwan earlier this month. Nauru's announcement on Jan. 15 came just two days after Taiwan elected a new president and left the self-governing island republic with just 12 remaining diplomatic allies, although it enjoys strong unofficial relations with the United States, Japan and other nations. China claims Taiwan as its territory and doesn't recognize its government or its right to diplomatic recognition, participation in global bodies such as the United Nations or any official contact with foreign political entities. This policy change is a significant first step in moving forward with Nauru's development, Nauru's government said in a news release announcing the severing of relations with Taiwan. China has been gradually poaching Taiwan's diplomatic allies, partly to punish the ruling Democratic Progressive Party that .

Chinese Communist delegation promises to implement deals signed by Muizzu

A Chinese Communist delegation held talks with Maldives President Mohamed Muizzu to promptly implement 20 agreements signed between the two countries during his recent visit to China, including increasing flights from China to boost tourist numbers to the archipelago nation. The delegation, led by Sun Haiyan, the deputy head of the International Department of the Communist Party of China (CPC), concluded the three-day visit to Male after meeting Muizzu and several other officials. The visit coincides with the permission granted by the Maldives government for the Chinese research vessel Xiang Yang Hong 03 to berth at Male. China was looking for new avenues to berth its controversial research ships frequenting the Indian Ocean on surveillance missions after Sri Lanka banned them for a year following concerns expressed by India. During the visit of the CPC delegation, the two sides agreed to deepen exchanges and cooperation in various fields, state-run Xinhua news agency reported. Su

China, in comic strip, warns of 'overseas' threats to its rare earth

It also banned the export of technology to make rare earth magnets, in addition a ban on technology to extract and separate rare earths

Landslide traps 47 people in southwest China, more than 500 evacuated

At least 47 people were buried in a landslide that struck southwest China's Yunnan province on Monday morning, forcing the evacuation of 500 others in the region. The disaster struck the Liangshui village of Zhaotong city at 5:51 am Beijing time, the state-run Xinhua news agency reported. Efforts were ongoing to rescue the people trapped under the landslide, official media reported. Over 500 residents were evacuated from the landslide-hit areas as the provincial commission for disaster reduction activated a Level-III emergency response for disaster relief, state-run CCTV reported. More than 200 rescuers, along with 33 firefighting vehicles and 10 loading machines, were mobilised to search for the missing. The buried villagers were from 18 households, rescue officials said. There were no immediate reports of deaths or injuries. The cause of the landslide was not immediately known. Local weather forecast said there will be light snow in the town on Tuesday, with the lowest tempera

China orders indebted local govts to halt some infrastructure projects

Beijing has been tightening curbs on debt in recent months to defuse risks to the world's second-largest economy and its financial stability