Page 13 - Chinese Economy

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

Chinese economy at 'critical stage of stabilisation': Premier Li Keqiang

China's economy, hit by the stringent zero-COVID policy, is currently passing through a critical stage of stabilisation, Premier Li Keqiang has said as he asked the provinces to tighten their belts and put existing assets to better use to consolidate the recovery. Li's call on Tuesday came as the world's second-largest economy showed signs of stress due to periodic COVID lockdowns in top Chinese cities like Shanghai and Shenzhen as well as China's travel restrictions limiting travel with the rest of the world to control the pandemic within the country. The second-ranking leader of the ruling Communist Party of China (CPC) who is set to retire this year after a 10-year stint, presided over a symposium on the economic situation at Shenzhen, China's top industrial city, in which leading officials of six major economic provinces -- Guangdong, Jiangsu, Zhejiang, Shandong, Henan and Sichuan -- took part via video link. Li stressed efforts to shore up market entities, stabilise employment

Oil prices fall as recessionary worries weigh on energy demand outlook

Oil prices fell on Tuesday, extending losses from the previous session, after economic data from China spurred fresh concerns about a potential global recession that could hit energy demand

China hits 'liquidity trap' as low lending rates fail to spur bank loans

China's Central bank data showed a sharp slowdown in aggregate financing, a broad measure of credit, in July, as new loans and corporate bond issuance weakened

China's largest chipmaker warns of rapid freeze as smartphone demand skids

China's largest chipmaker reported revenue rose 42% to $1.9 billion in the second quarter, generally in line with expectations

China consumer inflation in July reaches 2-year high as pork costs surge

The consumer price index in China rose 2.7% last month from a year earlier as pork prices surged 20.2%