China Economy

China sanctions groups, Taiwan official in US in response to meet

China announced sanctions Friday against two Asia-based organisations and Taiwan's representative in the US in response to the closely watched meeting this week between the US House Speaker and Taiwan's president. The Prospect Foundation and the Council of Asian Liberals and Democrats were being sanctioned for their involvement in promoting Taiwan independence under the guise of academic and research exchanges," China's Taiwan Affairs Office spokesperson, Zhu Fenglian, said. Republican House Speaker Kevin McCarthy held talks with Taiwanese President Tsai Ing-wen in California this week in a rare high-level, bipartisan meeting on US soil. The meeting came as US-China relations have sunk to historic lows and as tensions between Taiwan and China have risen. China views any official exchanges between foreign governments and Taiwan as an attempt to raise Taipei's global status, and thus an infringement on Beijing's claims of sovereignty over the island. China had vowed countermeasures .

China is the most prolific perpetrator of transnational repression: Report

The Chinese government is the worlds most prolific perpetrator of transnational repression, accounting for 253 incidents, or 30 per cent of all recorded cases

India has trade deficit with China in electronics, computer hardware

The major commodities in which India has a trade deficit with China include electronic components, computer hardware, telecom instruments, industrial machinery for dairy and organic chemicals, Parliament was informed on Wednesday. Some of the services in which India has a trade deficit with China include construction, telecommunication, computer and information services, maintenance and repair services, Minister of State for Commerce and Industry Anupriya Patel said in a written reply to the Lok Sabha. She said the commodities exhibiting trade deficit with China constituted 86.7 per cent of the total trade in 2014-15, which has reduced to 83.8 per cent of the total trade with China in 2021-22. "Similarly, the services exhibiting trade deficit with China contributed 30.3 per cent to the total trade with China in 2014, which has reduced to 18.5 per cent in 2019," she said. Replying to a separate question, she said India has signed 13 Free Trade Agreements (FTAs) with its trading ...

East Asia, Pacific growth to accelerate to 5.1% in 2023 as China rebounds

Growth in developing East Asia, Pacific is forecast to accelerate in 2023 as China's economy reopens, while the pace of growth in most of the economies in the rest of the region is anticipated to ease

China's post-Covid rebound gets off to unbalanced start, says CNBS

Industrial output was less impressive in the January-February period - expanding a slower-than-expected 2.4 per cent year on year

China economy rebounds from Covid slump as consumer spending picks up

Retail sales rose 3.5% from the same period last year, figures from the National Bureau of Statistics showed Wednesday, in line with forecasts and reversing from a 1.8% drop in December

China's zero Covid response 'completely right', highly effective: Li Qiang

China's new Premier Li Qiang on Monday strongly defended the much-hated 'zero COVID' strategy followed by the country for over three years which hurt its economic growth also led to public protests, saying the policy was completely right and delivered highly effective outcomes. Addressing his first press conference, Li said it took less than two months for China, a highly populous country, to achieve a smooth transition in COVID-19 response and resume normal economic and social order, which is indeed remarkable. "For over three years, under the leadership of the Communist Party, the Chinese people have united in fighting COVID-19, and now we have achieved a major and decisive victory against the disease, Li said and avoided using the term zero COVID. "China is a country with a large population and unbalanced development. It took less than two months for it to achieve a smooth transition in its response to the disease and to restore normal socioeconomic order. It is indeed a remarkab

Global mkts fully pricing in Fed hike to 5.5%; Indian equities at risk: UBS

India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market

Chinese planners promise 12 million jobs, economic rebound following Covid

Chinese economic officials expressed confidence Monday they can meet this year's growth target of around 5 per cent by generating 12 million new jobs and encouraging consumer spending following the end of anti-virus controls that kept millions of people at home. The Cabinet planning officials announced no details of spending or other initiatives to revive growth that slumped to 3 per cent last year, the second-lowest in decades. But they said they plan an array of measures to meet goals announced Sunday by Premier Li Keqiang by raising incomes and encouraging innovation. Efforts to revive the Chinese economy have global implications after weak retail, auto and housing sales depressed demand for imports. The country is the biggest export market for its Asian neighbours and an important revenue source for Western companies. There are many policy tools in our toolbox, the deputy chairman of the National Reform and Development Commission, Li Chunlin, said at a news conference held durin

All weather ally China approves $1.3 billion for cash-strapped Pakistan

Cash-Strapped Pakistan sees a ray of hope as the Industrial and Commercial Bank of China (ICBC) approved the rollover of USD 1.3 billion facilities.

Growth and glory: Might the two Asian cheetahs end up in another dead heat?

Most forecasters had it that India would do significantly better than China in FY24, but the scenario has undergone a change in recent weeks, as China has altered course dramatically, writes T N Ninan

China's Covid Zero policy broke the system that keeps its factories running

The slow return of migrant workers shows how China's economic outlook remains uncertain, despite Beijing's desire to put the chaos of Covid Zero behind it

India calls on China to take losses on loans in poor-nation debt rework

China needs to come out openly and say what their debt is and how to settle it," said Amitabh Kant, the sherpa for India during its presidency of the Group of 20 forum of the world's biggest economies

Metals eye up to 15% gain amid China reopening, likely capex push in Budget

Over half of the stocks in Nifty Metal Index are trading with a bullish sentiment ahead of Budget 2023,

China's realty magnate Hui Ka Yan loses 93% wealth amid slowdown in sector

Hui, once one of China's richest and most influential titans, bridging business and high-level politics lost 93 per cent of his fortune

Chexit, in parts: Reshoring, friend-shoring and billions of dollars in sops

Good or bad, India's current policy thrust on PLIs, capital subsidies, etc, is in line with the East Asian trend, if not global, notes T N Ninan

China introduces IceBurial tech amid rising number of Covid deaths

Amid the rising number of deaths in China due to COVID-19, it has introduced IceBurial technology which covers first-hand info and unique insights about China and the Chinese Communist Party

China's Covid deaths expected to hit 36,000 a day during holiday

"China will likely experience "one longer, more severe Covid wave," rather than repeat peaks and valleys"

China's economic growth falls to 3% in 2022, not even half 2021's rate

China's economic growth fell to 3 per cent last year under pressure from antivirus controls and a real estate slump but is gradually reviving after restrictions that kept millions of people at home were lifted. Growth of the world's second largest economy slid to 2.9 per cent over a year earlier in December from the previous month's 3.9 per cent, government data showed Tuesday. Forecasters say activity is reviving but wary consumers are returning only gradually to shopping malls and restaurants amid a surge in COVID-19 infections. The government says the peak of that wave appears to have passed. Last year's expansion was less than half of 2021's 8.1 per cent growth.

China's 'economic reboot' to offer boost to flagging world economy

A domestic recovery in China will lend itself to firmer import demand and the purchases of foreign brands