Page 6 - Chinese Economy

China plans to cut CO2 emission in key sectors by 1% of 2023 level

The plan said China would 'strictly' control coal consumption, 'reasonably' control petroleum consumption and promote use of biofuel and sustainable aviation fuel

China considers record penalty for PwC over Evergrande auditing work

PwC has been under the spotlight after China launched one of the biggest investigations of financial fraud in history involving developer Evergrande

China unveils new measures to fix its real estate crisis, spur growth

China announced a slate of fresh measures Friday to reinvigorate its ailing property industry after the latest data showed housing prices have slumped nearly 10% since the start of the year. Among other things, the central bank said it would reduce the minimum down payment for mortgages and remove the floor on interest rates for first and second homes. China's housing market has slumped after a crackdown on excessive borrowing by property developers several years ago, dragging along a wide range of other businesses such as home furnishing, appliances and construction and slowing growth in the world's No. 2 economy. Dozens of developers, whose legions of high-rise apartments have transformed urban landscapes across China, have defaulted on their debts. Many projects have just stalled, unfinished. He Lifeng, a vice premier, said officials would roll out policies to suit each city and fight the tough battle of dealing with the risk of unfinished commercial housing. We will solidly

China issues first batch of 30-year stimulus bonds at yield of 2.57%

The bid-to-cover ratio for the first tranche of the special bonds was 3.91 times, suggesting solid demand for such bonds

China new bank loans fall more than expected in April to 730 bn yuan

Chinese banks extended 730 billion yuan ($101 billion) in new yuan loans in April, down sharply from 3.09 trillion yuan in March and falling short of analysts' expectations, according to bank's data

Anthill Ventures seeks to raise $100 mn for private credit cross-fund

The $1.7 trillion global private credit market has become a serious rival to mainstream lending, attracting investors by offering higher rates of returns

Strained Chinese cities unable to raise funds to pay home buying subsidies

The property market accounted for about a quarter of China's economic activity at its peak

China's fake-fashion retailers thrive on TikTok, Reddit and Discord

In a video posted to his TikTok channel and viewed by nearly 2 million people, King unwrapped £2,000 (​​$2,488) worth of seemingly high-end Nike shoes, new in their boxes

A fascinating chart

Compared to China and Africa, India is remarkably well positioned on multiple fronts

Sustaining the India growth story

But could India really overtake China and the United States to become the world's largest economy by the end of this century, as some predict?

EU extends trade guide on state-led distortions in Chinese economy

It retains the steel, aluminium, chemicals and ceramics sectors of the initial report in 2017. There is no similar EU report for any other country

China too big to export its way to rapid growth, says Janet Yellen

The International Monetary Fund currently forecasts China's 2024 real GDP growth at 4.6%, falling to 4.1% in 2025

Taiwan detects 30 Chinese military aircraft, 9 navy vessels around nation

Since September 2020, China has increased its use of gray zone tactics by incrementally increasing the number of military aircraft and naval ships operating around Taiwan

India, China discuss full disengagement, resolving issues along LAC

The 29th meeting of the Working Mechanism for Consultation and Coordination on India-China Border Affairs has been held and the two sides had an in-depth exchange of views on how to achieve "complete disengagement" and resolve the remaining issues along the LAC, the MEA said on Thursday. The key meeting was held in Beijing on March 27, it said in a statement. "The two sides had an in-depth exchange of views on how to achieve complete disengagement and resolve the remaining issues along the Line of Actual Control (LAC) in the Western Sector of India-China border areas," the Ministry of External Affairs (MEA) said. Joint Secretary (East Asia) from the MEA led the Indian delegation. The Chinese delegation was led by Director General of the Boundary and Oceanic Department of the Chinese Ministry of Foreign Affairs, the statement said. "In the interim, both sides agreed to maintain regular contact through diplomatic and military channels and on the need to uphold peace and tranquility o

China to promote currency swaps, reinforce cooperation with Asian economies

Bilateral currency swaps can facilitate trade and investment and are a useful addition to the global financial safety net, Governor Pan Gongsheng told the annual gathering of the Boao Forum for Asia

Tim Cook's love for China helps Xi Jinping fight fears of economic slump

The People's Daily newspaper, an official mouthpiece for the Chinese Communist Party, has said that China is an indispensable part of the global supply chain

China must reinvent itself to turn economy around, says IMF's Georgieva

Officials who spoke at the opening of the China Development Forum expressed confidence China would hit its economic targets, including growth of about 5% this year

Exit the dragon: MSCI EM ex-China assets top $11 bn as pessimism grows

India stands to benefit most from increasing flows into index excluding China

Elderly retirees face financial losses after Chinese trust goes bust

Some investors in a troubled trust fund in China are facing financial ruin under a government plan to return a fraction of their money, casualties of a slump in the property industry and a broader economic slowdown. Sichuan Trust, headquartered in the southwest city of Chengdu, announced it was insolvent in 2020, stricken by sketchy accounting and failed investments in shopping malls and other projects. A deadline earlier this month to accept a 20%-60% haircut or loss on their investments has left some investors in deep financial trouble, according to public announcements and AP interviews with five people affected. China's economy, the world's second largest, depends heavily on real estate development to drive growth and create jobs. Property prices and sales have languished after a crackdown on what leaders viewed as dangerous levels of borrowing, causing dozens of developers to default on their debts. At the National People's Congress session in Beijing last week, officials pledg

China's consumer prices up first time in 6 months on Lunar New Year gains

The consumer price index (CPI) climbed 0.7% year-on-year in February, data from the National Bureau of Statistics (NBS) showed on Saturday