Page 23 - China Economy

China pressures Taiwan with trade accusations, warplanes ahead of elections

China in October said it was extending its trade barrier investigation to Jan. 12, the eve of Taiwan's elections. Taiwan denounced that at the time as election interference

China to run budget gap of 3% of GDP in 2024, issue special debt: Report

"The 2024 deficit ratio is set to be 3% and the insufficient part can be supplemented by special sovereign debt," one of the sources said

Janet Yellen to visit China again in 2024, to focus on 'difficult' topics

Yellen emphasized the importance of using her exchanges with China to gather information about the world's second-largest economy

China's economy may slow sharply in 2024, recovery fragile: World Bank

China's economy will slow next year, with annual growth falling to 4.5% from 5.2% this year despite a recent recovery spurred by investments in factories and construction and in demand for services, the World Bank said in a report issued Thursday. The report said the recovery of the world's second-largest economy from setbacks of the COVID-19 pandemic, among other shocks, remains fragile, dogged by weakness in the property sector and in global demand for China's exports, high debt levels and wavering consumer confidence. The estimate that growth would be around 5% this year but then fall in coming months was in line with other forecasts. Growth is expected to slow further in 2025, to 4.3% from 4.5% next year, the World Bank said. The economy has yoyoed in the past few years, with growth ranging from 2.2% in 2020 to 8.4% in 2021 and 3% last year. Stringent limits on travel and other activities during the pandemic hit manufacturing and transport. Job losses due to those disruptions an

ADB raises India FY24 growth forecast to 6.7%, cites industry performance

China in 2024 is expected to slow down to 4.5%, says lender in report raising estimate for Developing Asia

China's Xi meets with Vietnamese PM on second day of visit to shore up ties

Chinese leader Xi Jinping met with Vietnam's prime minister and the head of the country's National Assembly on Wednesday, on the second day of his visit to shore up Beijing's relationship with Hanoi after the Southeast Asian nation recently elevated its ties with Japan and the United States. Xi met with Communist Party General Secretary Nguyen Phu Trong on Tuesday, and they announced that China and Vietnam would work toward a community with a shared future, in what was seen as a diplomatic concession by Vietnam to Beijing. Vietnam has resisted using that phrase in the past but wanted to assuage Beijing's concerns after Vietnam designated both the US and Japan as comprehensive strategic partners" in recent months, a designation it uses for China. The status is Vietnam's highest official designation for a diplomatic relationship. Xi referenced the phrase again on Wednesday in a meeting with National Assembly Chairman Vuong Dinh Hue. In the next stage, both sides need to strengthen .

Chinese leaders brainstorm economic woes but give no policy details

The ruling Communist Party's capacity to steer the economy through challenging times has broad implications for regional and global growth

China, EU divide starkly apparent in post-summit news conferences

From trade to human rights, the leaders of China and the European Union differed on a wide range of issues at a summit this week in the Chinese capital. China, which sees Europe as an important export market, raised concerns about trade protectionism and de-risking, the EU initiative to reduce its reliance on any one country such as China for vital raw materials and products. The EU, which sees imports from China as a potential threat to companies and jobs, pressured China on its large trade surplus with Europe and its de facto support for Russia in the war in Ukraine. Separate post-summit news conferences on Thursday evening highlighted the divergent positions. Wang Lutong, the director general for European affairs, spoke to journalists at China's Foreign Ministry. Then EU Commission President Ursula von der Leyen and EU Council President Charles Michel held a joint news conference at the European Union office in Beijing. TRADE IMBALANCE VON DER LEYEN: If you just look at the

China's exports grow for the first time in six months in November

In the short run, however, the pressure on Chinese manufacturers show little sign of easing off completely

No changes to China credit rating, economic outlook: S&P Global Ratings

We last affirmed our A+ long term ratings on China in June with stable outlook and there has been no changes to that yet," said S&P in an emailed response to queries from Reuters

Best of BS Opinion: Possible return of China growth, climate change & more

Here is the best of Business Standard's opinion pieces for today

Will India reassess its position on China-backed Asian trade bloc RCEP?

However, that Sri Lanka and Bangladesh are veering towards the RCEP compounds an already complex situation for India

Has China peaked?

Even if China's growth slows in the coming years, India faces the daunting task of achieving something extraordinary to catch up

China frames 'One Province, One Policy' plan for the financial risk

In late October, the two-day Central Financial Work Conference, which was attended by President Xi Jinping, pledged to optimise the debt structure of central and local governments

India moves to elite club of nations as mcap tops $4 trn for first time

Stocks outside the top 100 universe have made a significant contribution to the mcap growth this year

A Chinese puzzle

LSE Professor Keyu Jin explores China's economic trajectory , and the challenge of moving from its successful 'old playbook' to a nuanced 'new playbook' in the face of evolving global dynamics

Profits at China's industrial companies rise as deflation persists

For the first 10 months of 2023, profits fell 7.8 per cent from the same period a year earlier, moderating slightly from the 9 per cent fall through the first nine months.

China to allow visa-free entry to five European countries and Malaysia

China announced on Friday that it will allow visa-free entry for citizens of five European countries and Malaysia as it tries to encourage more people to visit for business and tourism. Starting December 1, citizens of France, Germany, Italy, the Netherlands, Spain and Malaysia will be allowed to enter China for up to 15 days without a visa. The trial programme will be in effect for one year. The aim is to facilitate the high-quality development of Chinese and foreign personnel exchanges and high-level opening up to the outside world, Foreign Ministry spokesperson Mao Ning said at a daily briefing. China's strict pandemic measures, which included required quarantines for all arrivals, discouraged many people from visiting for nearly three years. The restrictions were lifted early this year, but international travel has yet to bounce back to pre-pandemic levels. China previously allowed citizens of Brunei, Japan and Singapore to enter without a visa but suspended that after the ...

China weighs unprecedented builder support with first-ever unsecured loans

Implementation would require regulators to exempt bankers from being held accountable for possible bad loans given the high risks involved

China economy shows sparks of life despite weakness in real estate sector

China's economy showed more signs of reviving in October as retail sales and manufacturing picked up though the property sector remained sluggish, the government said Wednesday. Factory output rose 4.6% from a year earlier in October, while retail sales jumped 7.6%, helped by robust spending during the weeklong National Day holidays. But real estate investment sank 9.3%, and officials acknowledged that the industry was still in the midst of adjustment, after a crackdown on excessive borrowing by developers two years ago, coupled with the pandemic, plunged the industry into crisis. Disruptions to manufacturing, transport, travel and virtually every other aspect of life during the pandemic ended nearly a year ago when China's leaders abandoned their zero-COVID policies aimed at preventing infections. So improved economic data from October also reflect lower rates of growth a year earlier. Overall, China's recovery from the pandemic has been fitful, though recently activity has revive