Page 9 - Chinese Economy

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

China factory activity shrinks in July, adds to pressure to reverse slump

Chinese factory activity contracted in July as export orders shrank, a survey showed Monday, adding to pressure on the ruling Communist Party to reverse an economic slowdown. A purchasing managers' index issued by the national statistics agency and an industry group improved to 49.3 from June's 49 on a 100-point scale but was below the 50-point level that shows activity contracting. China's manufacturing PMI remained in contraction, albeit a softer pace, as the drag from the external sector deepened, Erin Xin of HSBC said in a report. That puts more pressure on Beijing to support growth through both fiscal and monetary measures. Chinese leaders are trying to revive economic activity by promising to support entrepreneurs who generate jobs and wealth. But they have yet to give details possible tax cuts or spending and have avoided announcing a large-scale stimulus. Demand for Chinese exports weakened after U.S. and European interest rates were raised to cool record-breaking inflation

China slides to brink of deflation, adds urgency for economic stimulus

The consumer price index was unchanged last month from a year earlier - the weakest rate since prices fell in February 2021, according to data released by the National Bureau of Statistics on Monday

Why China may not challenge Western strategic dominance anytime soon

While the earlier facile assumption of China becoming a larger economy than the US may need revision, a re-balancing of global power seems more likely than a substantial power shift, notes T N Ninan

China's manufacturing contracted in June as export orders decreased: Survey

China's factory activity contracted for another month in June as export orders decreased, an official survey showed Friday, adding to signs an economic rebound following the end of anti-virus controls is cooling. A monthly purchasing managers' index issued by the national statistics agency and an industry group edged up to 49 from May's 48.8 on a 100-point scale on which readings below 50 show activity contracting. The world's second-largest economy revived following the end in December of anti-virus controls on travel and business activity. But that faded faster than expected due to lackluster consumer spending at home and weak demand for exports following interest rate hikes in the United States and Europe to cool inflation. Despite that, China's No. 2 leader, Premier Li Qiang, said this week economic growth accelerated in the April-June period from the previous quarter's 4.5% rate. Li gave no details but expressed confidence China can hit the ruling Communist Party's annual growt

China growth momentum slows further amid calls for more policy support

Speculation about potential policy support has been mounting as the recovery for the world's second-largest economy loses traction