Page 38 - China Economy

China's Covid-19 hard line eats into everything from Teslas to tacos

With the Shanghai lockdown grinding into its fourth week, and similar measures imposed in dozens of smaller cities, the world's largest boom market for electric cars has gone bust

World shares jump as Chinese leaders pledge to support slowing economy

World stocks advanced Friday after Chinese leaders pledged to do more to support the slowing economy as the country weathers its worst outbreaks of COVID-19 since the pandemic began. Germany's DAX gained 1% to 14,120.47 while the CAC 40 in Paris added 0.9% to 6,567.01. Britain's FTSE 100 climbed 0.5% to 7,547.01. The future for the S&P 500 was 0.3% lower while the Dow was almost unchanged. Chinese state media reported that the ruling Communist Party's powerful Politburo agreed at a meeting Friday to step up efforts to boost growth while also curbing coronavirus outbreaks. The party's COVID-zero policies have put pressure on President Xi Jinping and other leaders to counter the blow to the economy from shutdowns aimed at vanquishing the virus. Such restrictions are affecting the world's second-largest economy through disruptions in shipments, manufacturing and other business activity. It is very important to do a good job of economic work and to ensure and improve people's ...

Covid-19: China's curbs send economy reeling to worst since Apr 2020

The services industry was already suffering in March, with consumer spending contracting by the most since mid-2020.

China will step up infrastructure construction to boost growth: Xi Jinping

China will step up infrastructure construction to boost domestic demand and drive economic growth going forward, state TV reported on Tuesday

China issues third warning over economic growth amid Covid-19 outbreak

China's Premier Li Keqiang issued a third warning about economic growth risks in less than a week, raising concern over businesses as widespread COVID-19 lockdowns disrupt production and spending

Gold prices hit 1-month high as Ukraine crisis dulls risk appetite

Spot gold was up 0.8% at $1,989.65 per ounce, as of 0723 GMT, hitting its highest since March 11. U.S. gold futures were up 0.9% at $1,993.40

China's economic growth nears still-weak 4.8% in January-March 2022

The national economic recovery was sustained and the operation of the economy was generally stable, said a government statement

China unlikely to achieve GDP targets as Covid-19 crisis worsens

With a property market slump and regulatory crackdowns last year the policymakers set the lowest annual GDP target for China in decades for 2022, reported Dawn

China's Shanghai reports 3,238 local coronavirus cases in 24 hours

China's economic hub Shanghai reported 3,238 confirmed locally transmitted COVID-19 cases in the last 24 hours, the municipal health commission said on Sunday.

China's central bank gives lenders cash boost to spur growth

The People's Bank of China lowered the reserve requirement ratio for most banks by 25 basis points and for smaller banks by 50 basis points, according to a statement published Friday

Indian economy looks better than others, but don't raise a cheer just yet

The comparative numbers spell bad news for the world rather than any good news for India, whose growth forecasts are getting tempered even as the inflation picture is getting worse, writes T N Ninan

China cuts reserve requirements for banks as economy slows

China's exports, the last major growth driver, are also showing signs of fatigue, and some economists say the risks of a recession are rising

Shanghai reports slight drop in Covid cases as economic impact bites

China's efforts to stop the virus with a strict 'zero-COVID' policy are triggering economic disruptions that are rippling through global supply chains for goods from electric vehicles to iPhones

China's services sector activity squeezed by surge in Omicron cases

Activity in China's services sector contracted at the steepest pace in two years in March as the local surge in coronavirus cases restricted mobility and weighed on client demand

China manufacturing falls to 5-month low as anti-virus controls tighten

China's manufacturing activity fell to a five-month low in March after most of Shanghai and two other industrial centres were shut down to fight coronavirus outbreaks, a survey showed Thursday.

China tries to limit economic blow of Shanghai shutdown due to Covid surge

As millions of Shanghai residents line up for coronavirus tests in the closed-down metropolis, authorities are promising tax cuts for shopkeepers

Covid-19: China lockdowns costing $46 billion a month, say experts

A worst-case scenario would be a lockdown of all cities for one month, which would cut national GDP by 53 per cent over that period.

Shanghai says will hand out $22 bn in tax relief to firms amid Covid fight

China's Shanghai said it would roll out policies to help the local economy cope with a surge in Covid-19 cases in the city, including offering refunds that will reduce firms' tax burdens by $22 bn

China economy faces worst slowdown since Covid pandemic, says Nomura

China's economy faces its worst downward pressure since the spring of 2020 when it was hit by the first wave of Covid-19, according to Nomura Holdings Inc

Kaisa latest China developer to delay earnings results; shares fall

Company says a coronavirus lockdown in Shenzhen left audit work incomplete so it cannot publish financial results on time.