Page 26 - China Economy

China's inflation data shows economy in doldrums despite trade improvement

China's economy remains in the doldrums, data released Friday showed, with prices due to slack demand from consumers and businesses. Consumer prices remained flat in September compared with a year earlier, the National Bureau of Statistics said, while wholesale prices fell 2.5 per cent. Exports and imports also fell last month as demand fell in overseas markets. The faltering recovery of the world's second largest economy from the shocks of the COVID-19 pandemic is dragging on regional and global growth, though economists have said the worst might have passed. Trade ticked up slightly from the month before and manufacturing is showing signs of improvement. Earlier this week, the International Monetary Fund cut growth forecasts for China, predicting economic growth of 5 per cent this year and 4.2 per cent in 2024, down slightly from its forecasts in July. The IMF attributed its downward revision to weaker consumer confidence, subdued global demand and a crisis in the property sector

India still far from replacing China as global growth engine, says HSBC

HSBC expects the gap between the two economies to continue to widen in the foreseeable future, expanding to $17.5 trillion by 2028, based on IMF forecasts

China's consumer inflation rate flatlines in Sept amid precarious recovery

Core CPI - which strips out volatile food and energy costs - rose 0.8%, same as August. Producer prices fell 2.5%, moderating slightly from the prior month's decline

First ship berths carrying cranes from China arrive at Vizhinjam port

The first ship that arrived at Vizhinjam port here carrying cranes from China was given a water salute by the tug boats which pulled the vessel into the Rs 7,700 crore deep-water international port on Thursday, official sources said. The mammoth container handling cranes onboard the vessel would be transferred to the port on Sunday, October 15, in an official event that would be attended by Union Minister for Ports Sarbananda Sonowal and Kerala Chief Minister Pinarayi Vijayan, the sources said. The vessel -- Zhen Hua 15 -- which began its journey from China at the end of August was scheduled to dock at Vizhinjam on October 4, but its journey got delayed due to bad weather conditions along its route. On reaching Indian coastal waters, it first went to Mundra port in Gujarat to offload some cranes there and then proceeded towards Vizhinjam, the sources said. It docked at Vizhinjam port at around 11.20 am, they said. The Kerala government last month had said that three more ships wou

India accuses China's Vivo of visa violations, siphoning off $13 bn

"Many employees of Vivo group companies worked in India without appropriate visas," the agency said in the filing

Govt demands e-scooter makers return $60 mn aid for using China parts

It turned out that some manufacturers were importing ready-to-use parts, mainly from China, and thus had little control over the quality of their end products

Citigroup raises China's GDP forecast, says economy has bottomed out

"The cyclical bottom is here, with all eyes on whether organic demand will pick up amid gathering policy momentum," wrote economists led by Yu Xiangrong

China services activity expands at slowest pace in September this year

"Services supply and demand grew at a slower pace in September, as market conditions improved less than expected," said Wang Zhe, senior economist at Caixin Insight Group.

Chinese stock investors say worst yet to come in country's property crisis

Sentiment has only worsened this week as worries about liquidity and weak housing demand intensified

China's growth target hangs in balance while economists cut forecasts

"The real estate sector will continue to be under mounting pressure" despite recent government efforts to support property, said analysts at Poseidon Partner

Senior Nomura banker barred from exiting China amid investigations: Report

The travel restriction is linked to Wang's time at Industrial & Commercial Bank of China Ltd., where he worked before joining Nomura in 2018, according to the report

China's economic confidence plummets as domestic real estate crises stack

In the midst of these economic challenges, a crisis of confidence is emerging, with growing doubt about the Chinese economy's future

China's short-term economic prospects doesn't mean it is out of the woods

A healthy Chinese economy is a prerequisite for a solid and durable world expansion. Better a month of reasonably good data than another installment of doom and gloom

China factory output, retail sales figures give boost to recovery prospects

The upbeat data suggest that a flurry of recent measures including property support policies to shore up a faltering economic recovery are starting to bear fruit

China's new home prices in August fall at fastest pace in 10 months

China has in recent weeks delivered a raft of measures to boost home buying sentiment, including easing some borrowing rules, and relaxing home purchasing curbs in some cities

The China meltdown?

Despite significant challenges in its real estate sector, the financial markets are sending contradictory signals

China economy shows stability signs as credit and inflation improve

The strong credit data published Monday showed recent steps to bolster the real estate market may be starting to lift household demand for mortgages

Rupee closes at record low vs dollar amid China slowdown concerns

In the current financial year, the rupee has depreciated by 1.25 per cent. It depreciated by 7.8 per cent in the previous financial year, FY22

China exports decline slower than expected in Aug as economy under pressure

China's exports declined at a slower pace in August, even as the world's second-biggest economy remains under pressure from weaker demand both domestically and abroad. Exports for August slumped 8.8 per cent from the same time last year, totalling USD 284.87 billion, and were slower than the 14.5 per cent last month, according to customs data on Thursday. Imports slid 7.3 per cent from a year ago to USD 216.51 billion, but beat consensus estimates of a 9 per cent decline. China's trade surplus contracted 13.2 per cent to USD 68.36 billion, lower than the USD 80.6 billion in July. Chinese leaders have in recent months rolled out several policy measures to shore up the economy after a post-COVID rebound fizzled earlier than expected. China's central banks have eased borrowing rules, relaxing borrowing rules and lowering mortgage rates for first-time home buyers as well as implementing some tax relief measures for small businesses. However, authorities have yet to announce large-sca

No middle ground

Xi's decision to skip the G20 summit is a lose-lose