Page 22 - China Economy

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

Govt could ease China investment curbs if border stays calm: Report

In 2020, India tightened scrutiny on investments from companies based in countries it borders, adding a layer of vetting and security clearances

Suspicions arise on accuracy of China's official GDP growth data: Report

One divergence centers around Beijing's investment data, which shows surging manufacturing and infrastructure spending outweighed the drag from property

China's population drops for a second straight year as deaths jump

China's population dropped by 2 million people in 2023 in the second straight annual drop as births fell and deaths jumped after the lifting of COVID-19 restrictions, the government's statistics bureau said on Wednesday. The number of deaths more than doubled to 690,000. Demographers were expecting a sharp rise in deaths because of COVID-19 outbreaks that started at the end of the previous year and continued through February of last year. The total population stood at 1.4 billion, the statistics bureau said. The drop in births reflected a fall in the birth rate that is a long-running economic and societal challenge for China. The population is aging steadily, which could slow economic growth over time and challenge the nation's ability to provide for a larger elderly population with fewer workers. The number of births fell for the seventh year, though by less than in previous years. About 9 million babies were born last year, half of the total in 2016. China, which once sought to .

China's economy expanded 5.2% in 2023, though recovery seems uneven

China's economy for the October-December quarter grew at a quicker rate, allowing the Chinese government to hit its target of about 5 per cent annual growth for 2023 even though trade data and the economic recovery remain uneven. Official data released on Wednesday showed that the Chinese economy grew 5.2 per cent for 2023, surpassing the target of about 5 per cent that the government had set. The growth for 2023 is likely helped by 2022's GDP of just 3 per cent as China's economy slowed due to COVID-19 and nationwide lockdowns during the pandemic. For the fourth quarter, China's gross domestic product also grew at 5.2 per cent compared to the same time last year. On a quarterly basis, the economy rose 1 per cent in Q4, slowing from the expansion of 1.3 per cent in July-September. Officials from China's National Bureau of Statistics said that measures including strengthened macro regulation, and redoubled efforts to expand domestic demand, optimize structure, boost confidence and .

Oil falls as China's recovery misses expectations, dollar strengthens

China's economy in the fourth quarter expanded by 5.2% year on year, missing analysts expectations and calling into question forecasts that see Chinese demand fuelling 2024 global oil growth

Support to Pacific nations with policing shouldn't alarm Australia: China

China's ambassador to Australia, Xiao Qian, sought to reassure on Wednesday that China's increased involvement in the Pacific, particularly in policing efforts, should not be a cause of alarm for Australia. Xiao, speaking at his first news conference of the year in Canberra on Wednesday, maintained that Australia should not harbour anxiety about China's intentions in the region. Pacific Islands countries is an area where China and Australia can cooperate and can contribute together instead of asking them to choose between the two," Xiao said. What China has been doing is to help them to for their social stability, economic development and for bilateral trade relations." Concerns of China's encroachment in the South Pacific had escalated last year when the Solomon Islands signed a security pact with China, raising fears of a military buildup in the region. We're not seeking military strategies, we're not seeking military purposes, and there's no need for any so-called anxiety on the

Davos 2024: Is India's economic growth showing Chinese characteristics?

The talk in Mumbai's financial circles is about a cheery prediction by Goldman Sachs Group Inc. that by 2027 100 million Indians will enjoy incomes of at least $10,000 a year, five times the national

Chinese exports decline 4.6% after seven years amid economic crisis

Amid the economic crisis, Chinese exports saw a downfall for the first time since 2016 after global demand for Chinese-made goods slowed in 2023

China's Harvest Fund cuts Hong Kong staff in pullback from offshore biz

Harvest is one of the first Chinese asset managers to make sizable layoffs in Hong Kong in recent years

Domestic steel vacuum bottle makers urge govt to check imports from China

The All India Steel Bottle Association (AISBA) has urged the government to take immediate measures to check the imports of sub-standard and cheap steel vacuum flasks into India. The imports of vacuum steel bottles from China and other countries are on the rise and the country has seen a 35 per cent increase in imports of the product from 2019-20 to 2022-23, the industry body said citing an official data. Bharat Agarwal, Treasurer of AISBA, also suggested the government not to extend import relaxation under a BIS (Bureau of Indian Standards) order which restricts quality approvals to such products beyond January 14, 2024. As per the order, he said, "January 14 is the last date by when the products getting imported are to be approved by the BIS". The products are not as per the BIS standards, hence the government must not extend the relaxation considering the issues faced by local manufacturers who have invested around Rs 1,500 crore in the Indian market, he said. "We have also not

Taiwan expects China to apply pressure on incoming govt after election

Taiwan goes to the polls to elect a new president and parliament under the shadow of an increasingly assertive China which has called the vote a choice between "peace and war"

Taiwan's election shaped by economic realities, not China's threat: Report

Beijing's threats to use force to claim self-governed Taiwan aren't just about missiles and warships. Hard economic realities will be at play as voters head to the polls Saturday, though the relationship is complicated. The economy has slowed since the pandemic, with growth in 2023 estimated at only 1.4 per cent. That partly reflects inevitable ups and downs in demand for computer chips and other exports, and a slowing of the Chinese economy. But longer-term challenges such as inequality, housing affordability and unemployment are especially vital for younger voters, but often are eclipsed by China's looming presence. The two sides split in 1949 after a civil war and have no official relations but are linked by tens of billions of dollars in trade and investment. Beijing has been courting Taiwan investment, while at the same time flying fighter planes and sailing warships near the island to enforce its stance that the island must eventually unite with the mainland, by force if ...

Singapore looking to recruit APOs from India, China, Philippines & Myanmar

Singapore is considering hiring auxiliary police officers (APOs) from India, China, the Philippines and Myanmar, Law and Home Affairs Minister K Shanmugam told parliament on Wednesday. The city-State is looking to expand the jurisdictions from which it recruits APOs as the number from Taiwan has fallen in recent few years, As a result, the home affairs ministry has been considering expanding the jurisdictions where auxiliary police officers (APOs) can be recruited from. These potentially include Asian ones such as China, India, the Philippines and Myanmar, according to a Channel News Asia report. "We need to allow the Auxiliary Police Forces to recruit foreign APOs, to meet the increasing demand for security services," the Today newspaper also quoted the minister as saying. "(The Auxiliary Police Forces) face challenges in sustaining an adequate pool of APOs, given the shrinking local workforce, requirements such as physical fitness, and the job options Singaporeans have." He was

How does a Taiwan election work? Everything you need to know about it

Taiwan's three main parties contesting the election are the ruling Democratic Progressive Party (DPP), the Kuomintang (KMT) and the Taiwan People's Party (TPP), only set up in 2019

Govt considering anti-dumping duty on circuit boards imported from China

The commerce ministry's arm DGTR has recommended imposition of anti-dumping duty on imports of printed circuit boards imported from China, Hong Kong for five years to protect the domestic industry from cheap inbound shipments. The Directorate General of Trade Remedies (DGTR) has recommended the duty after conducting an investigation on the dumped imports of these boards from these two countries. The PCBs (printed circuit boards) are assembled with electronic components like transistors, resistors, and capacitors. It is used in cars, telephones, ovens, toys, televisions, computers, and lighting solutions. "The authority recommends imposition of anti-dumping duty on the imports of the subject goods originating in or exported from China and Hong Kong for a period of five years...," the DGTR's notification has said. It added that imposition of the duty would not affect the availability of the product to the customers. The Indian Printed Circuit Association has filed an application for

Beijing lodges protest to Myanmar as its artillery fire injures five

China has lodged protests to Myanmar after five people were injured by artillery shells fired during battles between its ruling junta and rebel groups that landed in its small town near their border