Page 10 - Chinese Economy

China factory activity shrinks in July, adds to pressure to reverse slump

Chinese factory activity contracted in July as export orders shrank, a survey showed Monday, adding to pressure on the ruling Communist Party to reverse an economic slowdown. A purchasing managers' index issued by the national statistics agency and an industry group improved to 49.3 from June's 49 on a 100-point scale but was below the 50-point level that shows activity contracting. China's manufacturing PMI remained in contraction, albeit a softer pace, as the drag from the external sector deepened, Erin Xin of HSBC said in a report. That puts more pressure on Beijing to support growth through both fiscal and monetary measures. Chinese leaders are trying to revive economic activity by promising to support entrepreneurs who generate jobs and wealth. But they have yet to give details possible tax cuts or spending and have avoided announcing a large-scale stimulus. Demand for Chinese exports weakened after U.S. and European interest rates were raised to cool record-breaking inflation

China slides to brink of deflation, adds urgency for economic stimulus

The consumer price index was unchanged last month from a year earlier - the weakest rate since prices fell in February 2021, according to data released by the National Bureau of Statistics on Monday

Why China may not challenge Western strategic dominance anytime soon

While the earlier facile assumption of China becoming a larger economy than the US may need revision, a re-balancing of global power seems more likely than a substantial power shift, notes T N Ninan

China's manufacturing contracted in June as export orders decreased: Survey

China's factory activity contracted for another month in June as export orders decreased, an official survey showed Friday, adding to signs an economic rebound following the end of anti-virus controls is cooling. A monthly purchasing managers' index issued by the national statistics agency and an industry group edged up to 49 from May's 48.8 on a 100-point scale on which readings below 50 show activity contracting. The world's second-largest economy revived following the end in December of anti-virus controls on travel and business activity. But that faded faster than expected due to lackluster consumer spending at home and weak demand for exports following interest rate hikes in the United States and Europe to cool inflation. Despite that, China's No. 2 leader, Premier Li Qiang, said this week economic growth accelerated in the April-June period from the previous quarter's 4.5% rate. Li gave no details but expressed confidence China can hit the ruling Communist Party's annual growt

China growth momentum slows further amid calls for more policy support

Speculation about potential policy support has been mounting as the recovery for the world's second-largest economy loses traction

Anger and dissatisfaction among working population in China: Report

An undercurrent of dissatisfaction and anger is being witnessed among the working population of China

China takes the yuan global in a bid to repel a weaponised dollar

Antagonism has flared between the two economic titans over issues ranging from trade and Taiwan to TikTok and technological know-how

BRICS surpass G7 GDP, India, China major economies with fast growth

The inflationary pressures, coupled with relentless rate hikes by central banks around the world, have hit Europe hard

China's biggest export hub struggles to stay afloat amid uncertainties

Located 50 km from Shanghai, Kunshan used to boast up to 30 per cent higher wages than other provinces, but now the companies there are cutting back their production amid the slowing economy of China

Analysts cut Asian companies' earnings; global slowdown, China to blame

Some analysts expect China's recovery may not be enough to offset headwinds from weak global demand and supply constraints for export-reliant economies in the region

FDI inflow in Chinese mainland up 6.1% in first two months of 2023

Foreign direct investment (FDI) into the Chinese mainland, in actual use, expanded 6.1 per cent year on year to 268.44 billion yuan in the first two months of 2023

Oil prices recoup losses after OPEC upgrades China demand outlook

The Organization of the Petroleum Exporting Countries (OPEC on Tuesday further raised its forecast for Chinese oil demand growth in 2023 due to the relaxation of the country's COVID-19 curbs

Slide towards centralisation

China unveils a new government and an altered economic strategy

From China to India

India should welcome investments looking for alternatives

Metal companies see Chinese economy reopening as boost to commodities

Hindalco, Vedanta and Hindustan Zinc remain upbeat about future demand

Moving beyond Beijing

Economic revival may not sustain

Economic revival 'complicated' due to growing global competition: Xi

This is the slowest growth of China's economy since the 2.3 per cent registered in GDP in 1974

India, China likely to drive half of 2023 global growth, says IMF

India forecast remains unchanged for FY24

US, China vow to prevent competition from becoming 'conflict': Janet Yellen

The Chinese economy is reopening after a Covid-19 resurgence killed tens of thousands of people and shuttered countless businesses

Asian share markets slip as China says economy slowed further in 2022

Asian shares were mostly lower Tuesday after China reported its economy expanded at a 3 per cent pace last year, less than half 2021's rate. Tokyo advanced while most other regional markets declined. Investors are watching to see if Japan's central bank will alter its longstanding policy of keeping its key interest rate at minus 0.1 per cent when it wraps up a policy meeting on Wednesday. US futures fell after markets on Wall Street were closed Monday for a holiday, while oil prices were mixed. The Chinese economy is gradually reviving after antivirus controls and a real estate slump dragged on growth last year. Restrictions that kept millions of people at home have been lifted, but a surge in COVID-19 infections is keeping consumers cautious about travel, shopping and dining out. Data reported Tuesday showed growth of the world's second largest economy slid to 2.9 per cent over a year earlier in December from the previous months 3.9 per cent. The government has begun to soften a .