Page 33 - China Economy

China may ease Covid Zero by 2022-end to aid economy, says Mobius

China will probably ease its disruptive Covid Zero policy by the end of this year as its economy is in trouble and the government needs money "badly," said Mark Mobius

China's economic growth accelerates but weak amid Covid shutdowns

China's economic growth picked up in the latest quarter but still was among the weakest in decades as the ruling Communist Party tries to reverse a slump while enforcing anti-virus controls and a crackdown on debt in its vast real estate industry. The world's second-largest economy grew by 3.9% over a year earlier in the three months ending in September, up from the previous quarter's 0.4%, official data showed Monday. The announcement was planned for last week but postponed while the ruling Communist Party met to award President Xi Jinping a new term as leader. Xi, the most powerful leader in decades, wants a bigger party role in business and technology development. That has prompted warnings tighter control of entrepreneurs who generate jobs and wealth will depress growth that already was in long-term decline. The party gave Xi a free hand by installing a seven-member ruling Standing Committee made up of his allies. Supporters of free enterprise including Premier Li Keqiang, the

Chinese stocks slide as leadership overhaul disappoints investors

The offshore yuan weakened as much as 0.7% to 7.2782 per dollar Monday morning to approach a record low seen last week

China's economic data shows mixed recovery as unemployment ticks up

Gross domestic product grew 3.9% in the July-to-September period from a year ago, rebounding from almost stagnant growth in the second quarter when Shanghai was still in lockdown

Shanghai quietly shuts schools, gyms and bars as Covid-19 returns

The financial hub reported 47 new infections for Wednesday, the most since July 13 when a brief rise in cases revived fears of another general lockdown.

China's services activity drops as Covid-19 lockdowns curb spending

The data is further evidence of the toll China's Covid Zero strategy is taking on consumer spending and the economy.

China's dark eco picture to hinder Xi's quest to secure 3rd term: Experts

Xi's tightened political control in China has posed several challenges to his leadership as communist nation is facing a dark economic picture while economic and social inequality continue to increase

China looking for new ways to resolve current debt quagmire: Report

After the first version of China's flagship Belt and Road initiative was blocked, Beijing is working on a 2.0 version while being open to accepting some losses on loans and renegotiating debt

China property stocks, bonds rally post report of $85 bn support from banks

CIFI Holdings Group Co., KWG Group Holdings Ltd. and Agile Group Holdings Ltd. were the top gainers in Hong Kong, up more than 10% each.

China's falling yuan worries Xi Jinping ahead of 20th National Congress

Ahead of the 20th National Congress, the fall of the yuan, also known as Renminbi, is embarrassing for China which always boasts of a strong currency as evidence of its economic stability

How should India respond to future shocks in an off-balance changed world?

The global engines of growth have become the sources of instability and uncertainty. T N Ninan explores what India should do

China will feel increasingly isolated as supply chains shift: Gautam Adani

China's Belt and Road initiative has run into resistance in many countries, the founder and chairman of Adani Group said at a conference in Singapore

As yuan nears lowest level in 14 yrs, traders brace for more PBOC pushback

The People's Bank of China has already stepped up its currency defense, but it did little to stop the depreciation.

China's real estate crisis: CCB to set up $4.2 bn fund to buy properties

The fund will "invest in existing assets" of real estate companies and renovate the properties into rental housing, the lender said in a statement to the Shanghai stock exchange Friday.

Goldman Sachs cuts China's growth forecast for 2023 as Covid Zero stays

Goldman Sachs cut its 2023 economic growth forecast for China sharply, predicting Beijing will stick to its stringent Covid Zero policies through at least the first quarter of next year

ADB cuts outlook for developing Asia growth on slowing China expansion

The Asian Development Bank cut its growth forecast for China and also lowered its outlook for developing Asia amid rising interest rates, a prolonged war in Ukraine and Beijing's Covid Zero policy

China's provinces suffer major fiscal hit from nation's Covid Zero policy

China's doubling down on its zero-tolerance stance toward Covid-19 is draining local-government coffers, posing a fresh threat to the economy and bond investors

China's chip output shrinks as India, US ramp up local manufacturing

As India and the US double down on domestic semiconductor manufacturing, China witnessed its biggest-ever monthly decline in chip manufacturing in August

China's housing prices fall again in August as slump reaches an year

New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.29% last month from July, when they fell 0.11%, National Bureau of Statistics figures showed

China's economy shows signs of recovery in August as stimulus ramps up

Industrial production growth accelerated to 4.2%, the National Bureau of Statistics said Friday, beating economists' forecast of a 3.8% increase