Page 9 - Chinese Economy

Unpaid workers, silent sites: China's property woes hit Country Garden

We are all worried," said a labourer surnamed Wang, 50, who said he had stopped work at the Yunhe Shangyuan site last week

How China's faltering growth threatens to derail commodities markets

Commodities have so far held up better than other assets as the economy has worsened. Freed from the constraints of the pandemic, fuel consumption has risen

China's economy in distress, its successful growth model 'broken': Report

China's economy, the world's second-largest, is now in deep distress and its successful model of growth for 40 years stands broken, a prominent American financial publication has said, noting that signs of trouble extend beyond China's dismal economic data to distant provinces. The Wall Street Journal in a major Sunday story wrote that economists now believe China is entering an era of much slower growth, made worse by unfavourable demographics and a widening divide with the US and its allies, which is jeopardising foreign investment and trade. Rather than just a period of economic weakness, this could be the dimming of a long era, it commented. "Now the (economic) model is broken," the financial daily said. We're witnessing a gearshift in what has been the most dramatic trajectory in economic history, Adam Tooze, a Columbia University history professor who specialises in economic crises, was quoted as saying by the Wall Street Journal. According to the report, the total debt, ...

China urges banks to boost loans to support recovery, cut debt risks

Major financial institutions, especially big state-owned banks, must increase loan disbursements and avoid big fluctuations in lending

Evergrande's bankruptcy highlights China's real estate crisis: Experts

The filing for bankruptcy by Evergrande, Chinese real estate giant signals the beginning of Beijing's real estate crisis, CNN reported on Friday.

Dollar set for fifth straight week of gains as China stays top of mind

The People's Bank of China (PBOC) set a much stronger-than-expected daily fixing, lifting the yuan from a 9-month low hit on Thursday

Slowing economy, credit crunch: What's ailing China's real estate sector?

On Thursday, one of the biggest Chinese real estate groups, Evergrande, filed for bankruptcy protection under Chapter 15 in New York

Chinese banks challenged as economy wobbles, property market woes mount

Exposure to local government financing vehicles and a deflationary economy is compounding the pressure, Bloomberg Intelligence analyst Francis Chan said

Oil rises on strong travel demand, China's move to soothe economic woes

Brent crude futures rose $1.24, or 1.5% to $84.70 a barrel by 11:18 a.m. ET (1518 GMT). U.S. West Texas Intermediate crude (WTI) was up $1.48, or 1.8% at $80.86 a barrel

Xi calls for patience as Communist Party tries to reverse economic slump

Chinese leader Xi Jinping has called for patience in a speech released as the ruling Communist Party tries to reverse a deepening economic slump and said Western countries are increasingly in trouble because of their materialism and spiritual poverty. Xi's speech was published by Qiushi, the party's top theoretical journal, hours after data Tuesday showed consumer and factory activity weakened further in July despite official promises to support struggling entrepreneurs. The government skipped giving an update on a politically sensitive spike in unemployment among young people. Xi, the country's most powerful leader in decades, called for China to build a socialist ideology with strong cohesion and to focus on long-term goals of improving education, health care and food supplies for China's 1.4 billion people instead of only pursuing short-term material wealth. Since taking power in 2012, Xi has called for restoring the ruling party's role as an economic and social leader and has ..

China dragging global smartphone market to worst year in a decade

"Asia is one of the major hurdles to positive growth, as headwinds halt the economic turnaround anticipated for China," the report said

Oil prices stabalies as China economic fears counter tight US supply

Brent crude futures edged up 6 cents to $84.95 a barrel by 11:35 a.m. EDT (1535 GMT), while U.S. West Texas Intermediate crude (WTI) fell 2 cents higher to $80.97 a barrel

TMS Ep499: Chinese economy, policy making rejig, markets, protectionism

How will China's economic troubles hit India and the world? Does India's policymaking need a rejig? Time to turn cautious on stocks of new-age companies? What is protectionism? All answers here

Oil prices drop over 1% due to intensifying pressure of Chinese economy

China's industrial output and retail sales data on Tuesday showed the economy slowed further last month, intensifying pressure on already faltering growth

China finance giant's missed payments alarm regulators and markets

Task force set up after a unit of Zhongzhi Enterprise, one of nation's top wealth managers, missed payments on multiple high-yield investment products

Oil stabilises as China economic worries counter OPEC+ supply cuts

Brent crude futures slipped 35 cents to $86.46 a barrel by 1027 GMT while U.S. West Texas Intermediate crude edged lower by 38 cents to $82.81 a barrel

China looks to attract foreign investment as its economy struggles

The 24-point plan from the State Council - China's cabinet - also promises to relax regulations on transferring data overseas, among other measures

Biden describes China as 'ticking time bomb' over its economic problems

First came word that China's economy had slowed substantially in the spring, extinguishing hopes of a robust expansion after the lifting of extreme Covid restrictions

China's July exports tumble, add to pressure to shore up flagging economy

China's exports plunged by 14.5 per cent in July compared with a year earlier, adding to pressure on the ruling Communist Party to reverse an economic slump. Exports fell to USD 281.8 billion as the decline widened from June's 12.4 per cent fall, customs data showed Tuesday. Imports tumbled 12.4 per cent from a year earlier to USD 201.2 billion in a sign of weak domestic demand, widening from the previous month's 6.8 per cent contraction. The country's global trade surplus narrowed by 20.4 per cent from a record high a year ago to USD 80.6 billion. Chinese leaders are trying to shore up business and consumer activity after a rebound following the end of anti-virus controls in December fizzled out earlier than expected. Economic growth sank to 0.8 per cent in the three months ending in June compared with the previous quarter, down from the January-March period's 2.2 per cent. That is the equivalent of 3.2 per cent annual growth, which would be among China's weakest in three ...

China's manufacturing contracts in July dragging down Asia factories

The Caixin manufacturing purchasing managers index declined to a six-month low of 49.2 in July from 50.5 in June, below the key 50 level that marks a contraction, a private survey showed