Page 4 - China Gdp Growth

China's factory activity slows for 5th month as weak demand hampers growth

A gauge of non-manufacturing activity rose to 51.4, versus an estimate of 50.7, helped by a pickup in travel and tourism during a recent long holiday

India, China have strong economic, cultural connections says Chinese envoy

Chinese Consul General in Mumbai Kong Xianhua has said the economic and cultural connections between the people of China and India are so strong that nothing and nobody could push them apart. Kong was addressing a gathering on Friday on the occasion of the Chinese New Year Reception and Chinese Cultural Festival in Mumbai. He said that 2023 marked a year of achievements and harvest for both China and India. "It is the extensive cooperation between our people that makes it happen," he said. The China-India trade volume surpassed 136.2 billion dollars in 2023, he said. The Chinese Embassy and its Consulates-General in India have issued more than 1.8 lakh visas in the last year, showing a new high of Indian visitors to China after the pandemic, he said. One of the biggest news in Mumbai these days is that the Coastal Road is set to open this month, he said. "It is worth noting that the tunnel under Malabar Hill (in south Mumbai), the hardest part of the project, was built with a Ch

Death toll in China landslide rises to 31 while 16 people still missing

The death toll from a landslide that struck southwest China's mountainous Yunnan province has climbed to 20, with 24 people still missing, local authorities said on Tuesday. The landslide occurred in Liangshui Village in the city of Zhaotong at about 6 a.m. on Monday, trapping a total of 47 people. At least 20 people have been found dead, while 24 others remain missing, state-run CGTN news channel reported. The Ministry of Emergency Management upgraded the emergency response level to the second-highest level from the Level-III emergency response for disaster relief activated by the Provincial Commission for Disaster Reduction immediately after the landslide. The ministry dispatched teams to the disaster-hit area to guide the rescue and relief work, according to the state-run Xinhua news agency. The Chinese government has allocated funds totalling 50 million yuan (about USD 7 million) to support disaster relief and emergency rescue work focusing on search and rescue, the relocation

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

Taiwan's elections and the Indo-Pacific

The diplomatic responses to Lai Ching-te's victory underscore the challenge and importance of maintaining the status quo in the region

China gaming companies unveil share buybacks after govt curbs cause rout

It remains to be seen how shares of Tencent Holdings , the world's biggest gaming company and its closest rival, NetEase, will fare this week after the apparent softening in stance from the regulator

People's Bank of China offers record $112 bn of cash as economy struggles

China's economy has struggled this year as a rebound from restrictive Covid Zero policies proved to be weaker than expected and the property crisis deepened

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

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

Fitch upgrades India's mid-term GDP growth forecast to 6.2% from 5.5%

Fitch blamed China for pulling down the estimate of 10 emerging countries to 4 per cent from 4.3 per cent earlier

World Bank slashes 2023 growth forecast for East Asia and Pacific to 5%

World Bank said that while China is expected to grow at 5.1% this year, up from 3% in 2022, the rest of the countries in the region are expected to see a slowdown

China's economic woes deepen, advisors suggest more infrastructure spending

Advisers calling for immediate stimulus argue the central government's low debt means it can shoulder the burden with municipalities to finance infrastructure

The Chinese govt wants the youth to marry, but they don't see the point

There was a downfall of 800,000 in the number of weddings in 2022 when compared with 2021

China urges banks to further cut deposit rates to channel savings pool

The guidance comes as banks and the economy groan under the weight of huge inflows of savings and deposits

Growth and glory: Might the two Asian cheetahs end up in another dead heat?

Most forecasters had it that India would do significantly better than China in FY24, but the scenario has undergone a change in recent weeks, as China has altered course dramatically, writes T N Ninan

China's Covid-19 outbreak has US worried about new mutations of virus

Chinese cities are witnessing a wave of Covid-19 cases, with concerns growing that the government may be hiding the true toll of the virus

Delayed reopening may hit China's GDP growth rate by 1 point: Oxford report

If China pushes back its economic reopening to the first half of 2024, an anticipated recovery in private consumption will be delayed, says the report

Boeing Co sees India as key to offset sluggish business in China

Boeing and Airbus SE are both in the running for what could be one of the largest aircraft deals ever as formerly state-run Air India Ltd. is overhauled by new owner Tata Group

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 to grow slower than rest of Asia for the first time since 1990

According to World Bank's forecast, this is primarily due to Xi Jinping's zero-Covid policy and the crisis in the country's property sector