Page 13 - Chinese Economy

Recession could last until 2024, says Musk after remark on China, Europe

Tesla CEO said he thinks a recession will last until the spring of 2024, after earlier saying "a recession of sorts" in China and Europe was weighing on demand for its electric cars

Chinese govt delays GDP data release due Tuesday, no reason given

The National Bureau of Statistics updated its release schedule on Monday, with the dates for major economic indicators due this week marked as delayed

China's economic troubles may shadow boost to Xi Jinping's dominance

Latest data paint a picture of a weak economy, largely a consequence of Xi's zero-tolerance approach to combating Covid infections and a crackdown on property sector debt

$1.2-trn 'PM Gati Shakti' plan can snatch away factories from China

Under a $1.2 trillion mega project called PM Gati Shakti -- Hindi for strength of speed -- Modi's administration is creating a digital platform that combines 16 ministries

China's $5 trillion rout creates historic gap with Indian stocks

The MSCI India Index rallied almost 10% in the just-ended quarter, compared with a 23% slump for the MSCI China Index

China's economy continues to struggle on Covid curbs, property woes

China's fragile economic recovery has been challenged this year by the country's adherence to Covid Zero, a policy intended to stamp out infections that has caused intermittent turmoil to supply chain

China traders see property boost, Covid zero resolve at Party meet in Oct

With expectations low for an imminent shift away from the Covid-Zero policy, some investors are limiting their exposure to reopening shares

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