Page 8 - Chinese Economy

China's long stumble

Stock market decline an opportunity for other developing nations

Chinese lawmakers weigh stock market rescue package backed by $278 billion

Policymakers are seeking to mobilize about 2 trillion yuan ($278 billion), mainly from the offshore accounts of Chinese state-owned enterprises

China's economy is in serious trouble

Why is China's economy, which only a few years ago seemed headed for world domination, in trouble?

Chinese economy growing, open for business: China's Premier Li Qiang at WEF

Li said China, with a rapidly urbanizing population of 1.4 billion people, would play an important role in boosting aggregate global demand

Former chief of state-owned Chinese bank Everbright arrested for corruption

The former chairman of state-owned Chinese bank China Everbright Group has been arrested on suspicion of embezzlement and bribery, prosecutors said in a statement on Monday, amid an intensified campaign against corruption. The investigation into Tang Shuangning, the former party secretary and chairman of China Everbright Group has ended and the case would be transferred to the procuratorate for review and prosecution, China's Supreme People's Procuratorate said in a statement. Tang, 69, was expelled from the Chinese Communist Party earlier this month over violations of disciplines and laws, amid a crackdown on corruption in China's financial sector. He retired in 2017. Other allegations against him include weakening the party's leadership over the bank, failing to prevent and defuse financial risks, privately reading publications with serious political problems and resisting organisational scrutiny, the party-run newspaper Global Times cited the Central Commission for Discipline ...

Chinese exports decline 4.6% after seven years amid economic crisis

Amid the economic crisis, Chinese exports saw a downfall for the first time since 2016 after global demand for Chinese-made goods slowed in 2023

China's exports rise, but deflation persists as economy enters 2024

Analysts also anticipate that interest rates will drop at least 1.5 percentage points in the United States and Europe this year, which should improve demand for imported goods

China's economy has become 'more resilient, dynamic', says President Xi

Chinese President Xi Jinping said on Sunday that China's economy has become "more resilient and dynamic than before" as he vowed to consolidate and strengthen the momentum of economic recovery and work to achieve long-term economic development. "We have gone through the test of winds and rains, have seen beautiful scenes unfolding on the way, and have made plenty of real achievements. We will remember this year as one of hard work and perseverance. Going forward, we have full confidence in the future, Xi said in his 2024 New Year message. Xi said that as China achieved a smooth transition in COVID-19 response efforts, its economy has sustained the momentum of recovery, and steady progress has been made in pursuing high-quality development in the outgoing year, state-run Xinhua news agency reported. "Having weathered the storm, the Chinese economy is more resilient and dynamic than before, he said. Xi said that while pursuing its development, China has also embraced the world and ..

China Nov industrial output rises 6.6%, retail sales below expectations

The data on output released on Friday by the National Bureau of Statistics (NBS) exceeded analysts' expectations for a 5.6% rise in a Reuters poll and made it the strongest growth since September 2022

China's central bank injects $112 bn of cash to revive economic growth

The People's Bank of China offered commercial lenders 1.45 trillion yuan ($204 billion) via its medium-term lending facility - 800 billion yuan more than the expected maturity this month

The China story

Growth has slowed, but dominance remains

Goldman upgrades Indian equities citing strategic appeal, downgrades China

The Wall Street bank has downgraded its views on China equities several times this year amid pessimism in the country's stock market

China's Communist Party warns against inappropriate interference in pvt biz

As the Chinese economy struggled to recover from the post-COVID blues and anti-monopoly campaigns, the ruling Communist Party in an attempt to bolster sagging business confidence has warned its cadre against inappropriate interference in microeconomic activities. The officials of the Communist Party of China (CPC), which is headed by President Xi Jinping, were at the forefront of the anti-monopoly campaign in the last few years to rein the country's multi-billion businesses like Alibaba and corporate leaders like Jack Ma, who suddenly announced his retirement in 2019 and spent following years mostly abroad. Ma returned home in March this year following assurances of friendly policies for the private sector to revive the struggling economy, especially by Premier Li Qiang, regarded as a friend of Ma. Ma's return followed assurances from Xi, under whose watch the CPC in the few two years carried out a massive anti-monopoly campaign against top business houses including Alibaba which ..

China's homes register steep decline in prices, major blow to sentiment

New-home prices in 70 cities, excluding state-subsidized housing, declined 0.3% last month from August, when they slipped 0.29%, National Bureau of Statistics figures showed Thursday

China's economic growth beats forecasts as consumer spending improves

Gross domestic product increased 4.9 per cent in the July-September period from a year prior, data released by the National Bureau of Statistics showed Wednesday

Indian economy needs 8% growth to topple China as global driver: Barclays

The South Asian nation should focus investment in areas like mining, utilities, transport and storage - sectors that have stronger spillover effects on the broader economy, said Barclays economist

TMS Ep534: Car buying spree, China's economy, stockbroker, malaria vaccine

Why are Indians on a car buying spree? Is China's authoritarianism hurting its economy? How are traditional brokerages fighting back? What is the R21/Matrix-M malaria vaccine? All answers here

China Evergrande soars after property developer's stocks resume trading

Shares of debt-laden property developer China Evergrande Group soared Tuesday after they resumed trading in Hong Kong following a suspension last week. By midday, Evergrande's shares were up nearly 16 per cent after jumping more than 60 per cent early in the session. Evergrande is the world's most heavily indebted real estate developer and is at the center of a property market crisis that is dragging on China's economic growth. The company's stock was suspended from trading last week as it confirmed Chinese police were investigating its chairman, Hui Ka Yan, on suspicion of illegal crimes. An affiliate, Evergrande Property Services, also resumed trading Tuesday, according to a notice on the Hong Kong Stock Exchange. However, trading of shares in China Evergrande New Energy Vehicle Group remained suspended pending the release of an announcement in relation to inside information of the firm, a notice to the Hong Kong exchange said. Both units halted trading last week. China Evergra

China central-bank adviser proposes structural reforms to revive economy

Fiscally, Chinese governments at various levels are under stress, he told the annual Bund Summit conference

China exports decline slower than expected in Aug as economy under pressure

China's exports declined at a slower pace in August, even as the world's second-biggest economy remains under pressure from weaker demand both domestically and abroad. Exports for August slumped 8.8 per cent from the same time last year, totalling USD 284.87 billion, and were slower than the 14.5 per cent last month, according to customs data on Thursday. Imports slid 7.3 per cent from a year ago to USD 216.51 billion, but beat consensus estimates of a 9 per cent decline. China's trade surplus contracted 13.2 per cent to USD 68.36 billion, lower than the USD 80.6 billion in July. Chinese leaders have in recent months rolled out several policy measures to shore up the economy after a post-COVID rebound fizzled earlier than expected. China's central banks have eased borrowing rules, relaxing borrowing rules and lowering mortgage rates for first-time home buyers as well as implementing some tax relief measures for small businesses. However, authorities have yet to announce large-sca