Page 13 - Chinese Economy

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

China losing predictability as European firms rethink future investments

Recent Chinese policy decisions mean the country is now seen as "less predictable, less reliable and less efficient" according to the report published by the European Union Chamber of Commerce

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

Supply chains aren't broken, have evolved for the better in some places

The dismal state of American manufacturing combined with resilient Asian supply chains has brought into focus the crucial global role of industrial giants like South Korea, China and Japan

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 consumer spending, factory output improve but still remain weak

Chinese consumer spending and factory output edged up in August but still were weak, official data showed Friday, and forecasters warned the second-largest economy is vulnerable to repeated shutdowns of cities to fight virus outbreaks. Housing sales plummeted while prices edged lower, adding to a slide in real estate activity under pressure from a government campaign to control surging corporate debt that set off an economic slump in mid-2021. China's economy held up slightly better than anticipated last month, but momentum still weakened, said Julian Evans-Pritchard of Capital Economics in a report. September is shaping up to be even worse. Chinese leaders are trying to prop up economic growth that sank to 2.5% over a year earlier in the first six months of 2022, less than half the official 5.5% target, without big stimulus spending that might push up debt and housing costs. Economists say this year's Chinese economic growth might come in below 3%, less than half of last year's 8.

China braces for a slowdown even worse than 2020 as growth declines sharply

The consensus in a Bloomberg survey is for the economy to expand 3.5% this year, which would be the second-weakest annual reading in more than four decades

China rolls out property policies to boost demand, fix real estate crisis

A flurry of Chinese cities are rolling out measures to boost housing demand, signaling the government's intention to arrest a property crisis.

China's biggest banks hit by margin squeeze amid bad loan pressure

China's $52 trillion banking industry is facing an increasingly difficult year, with its largest lenders cutting loan rates while bad debt is piling up amid a property crisis

China's factory activity contracts again in Aug as power cuts curb output

China's manufacturing purchasing managers index rose to 49.4 from 49 in July, according to a statement from the National Bureau of Statistics

China bad debt managers see earnings tank on deepening property losses

China's distressed-debt managers have been in turmoil as aggressive lending to embattled developers and unchecked expansion into other areas has beset the $730 billion funds with heavy credit losses

China adds 1 trn yuan more of stimulus to rescue economy, bolster growth

China stepped up its economic stimulus with a further 1 trillion yuan of measures to bolster growth and curb the fallout of repeated Covid lockdowns and the crisis in the property market

China announces 19 new policies in a bid to bolster economic growth

The measures -- unveiled by the State Council, the country's Cabinet -- include more than 1 trillion yuan ($146 billion) in new funding to boost investment and consumption, as well as more flexibility

China starts probing property executives for possible law violations

Chinese authorities said they were investigating at least four current and former top managers, including Xiamen C&D Real Estate Chairman Zhuang Yuekai, who is suspected of "serious" law violations

China reopens doors to foreign students for first time in more than 2 years

Foreign nationals holding a valid Chinese residence permit for study or an APEC business travel card will be allowed to enter China starting today

Chinese firm Evergrande's fall should also serve as a warning to Vietnam

China Evergrande Group's debt blowup, with the tumbling home prices and mortgage boycotts that followed, have sent the economy into its deepest spin since the Cultural Revolution

Chinese banks inflating loan numbers amid struggle to meet govt demands

Some state-owned Chinese banks are extending loans to companies and then allowing them to deposit funds at the same interest rate

China's decoupling from emerging markets to revive growth may prove a blip

Chinese equities are seen making up lost ground as the extreme pessimism toward its economy recedes and authorities take further steps to revive stuttering growth

China plans more fiscal stimulus as outlook darkens with rising Covid cases

China's local governments could sell more than $229 billion of bonds to fund infrastructure investment and plug budget gaps

Industrial China is alive and well despite concerns of economic slowdown

Data this past week showed a dismal picture: China's industrial output rose 3.8% from a year earlier, which was below expectations, fixed investment grew slower than forecast and credit was weak