Page 12 - Chinese Economy

China struggles with fresh infections after zero-Covid restrictions ease

A rash of COVID-19 cases in schools and businesses were reported by social media users Friday in areas across China after the ruling Communist Party loosened anti-virus rules as it tries to reverse a deepening economic slump. Official data showed a fall in new cases, but those no longer cover big parts of the population after the government on Wednesday ended mandatory testing for many people. That was part of dramatic changes aimed at gradually emerging from zero-COVID restrictions that have confined millions of people to their homes and sparked protests and demands for President Xi Jinping to resign. Social media users in Beijing and other cities said coworkers or classmates were ill and some businesses closed due to lack of staff. It wasn't clear from those accounts, many of which couldn't be independently confirmed, how far above the official figure the total case numbers might be. I'm really speechless. Half of the company's people are out sick, but they still won't let us all

End of Covid Zero policy threatens to overwhelm China with infections

The world's most populous nation is rapidly abandoning the mass testing, lockdowns and centralized quarantine that defined the stringent, three year-old policy

China's Xi Jinping visiting Saudi Arabia in bid to boost economic growth

Chinese leader Xi Jinping is attending a pair of regional summits in Saudi Arabia this week amid efforts to kick-start economic growth weighed down by strict anti-COVID-19 measures. The Foreign Ministry said on Wednesday that Xi will attend the inaugural China-Arab States Summit and a meeting with leaders of the six nations that make up the Gulf Cooperation Council in the Saudi capital of Riyadh. His state visit to Saudi Arabia will end on Saturday. China is the world's second largest economy and a major source of outward investment. To fuel massive demand, it imports half its oil, of which half of those imports come from Saudi Arabia, amounting to tens of billions of dollars annually. China's economic growth had been on a steady decline for years and was dealt a major blow by rolling lockdowns imposed across the country as a response to the COVID-19 pandemic. Chinese economic growth rebounded to 3.9 per cent over a year earlier in the three months ending in September, up from th

Morgan Stanley upgrades Chinese equities as country eases Covid curbs

Economic recovery likely to be bumpy as earnings pressure continues, says brokerage

Metal index gains over 1% as China eases Covid-19 rules; Hindalco up 4%

The reopening of the Chinese economy could brighten the outlook for global growth and commodity demand

Asia's factory activity shrinks in Nov as China lockdown impact widens

The results highlight Asia's darkening economic outlook for 2023, as lockdowns in China disrupt international supply and heighten fears of a further slump in its economy

Stocks, oil skid sharly today as China's Covid protests roil sentiment

China, the world's top oil importer, has stuck with zero-Covid policy even as much of the world has lifted most restrictions

China's industrial profits continue to decline amid tightening Covid curbs

Industrial profits in the January-to-October period fell 3.0% from a year earlier, data from the National Bureau of Statistics showed Sunday

Fear of quarantine camps, not Covid-19 pandemic, is shutting Beijing down

Going out in the capital of Beijing means having to scan a QR code to enter venues like shops and restaurants, or to even take public transportation

As China intensifies Covid-19 lockdowns, India gradually opens up

Data shows that spike in one country has not coincided with a rise the other

China's Covid policy will hinder property recovery: Goldman Sachs

On the Covid policy, Goldman expects China to reopen the country -- which it defines as a period when authorities no longer lock down cities when cases surge -- in the first half of 2023

Asia share markets gain despite Chinese Covid case numbers rising

Asian share markets were mostly in positive territory on Wednesday despite rising Covid cases in China

China Covid-19 cases near record high since pandemic began: Report

Over 28,000 new infections reported nationwide; Beijing shuts businesses, schools in hard-hit districts, tightens rules for entering the city

China's 'slow, painful' reopening threatens to strain economy even further

China is in for a "protracted and costly" reopening, with any release of pent-up demand likely to be lackluster as many households have already depleted their savings

India to be a semiconductor manufacturing hub: Rajeev Chandrasekhar

Chandrasekhar said India is well positioned to emerge as a major player in electronics and semiconductor products manufacturing as part of the 'China Plus One' diversification strategy

China lost $18 billion last year due to extreme weather events: UN report

Economic losses from extreme climate events have rocketed in Asia, causing a total damage of $35.6 billion and affecting nearly 50 million people, says the report

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 budget deficit nears record $1 trillion as economy slows

Chinese authorities have struggled to make ends meet this year as massive tax rebates and the persistent housing market crisis have cut government income sharply

Oil price rises as US dollar loses steam though demand fears linger

Oil prices rose as the US dollar eased against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from key oil importing economies

China's economic growth accelerates but slowest in decades amid shutdowns

China's economic growth accelerated in the latest quarter but still was among the slowest in decades as the country wrestled with repeated closures of cities to fight virus outbreaks. 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. For the first nine months of the year, growth was 3% over a year earlier. A news conference to announce the figures last week during a meeting of the ruling Communist Party was postponed without explanation. The National Statistics Bureau released the figures on its website without advance notice of the timing. No data were immediately released for growth compared with the previous quarter, the way data for other major economies are measured. The economy shrank by 2.6% in the quarter ending in June compared with the previous three-month period. The ruling party is trying to revive economic growth while enforcing its Zero COVID