Page 3 - Chinese Economy

China lost $18 billion last year due to extreme weather events: UN report

Economic losses from extreme climate events have rocketed in Asia, causing a total damage of $35.6 billion and affecting nearly 50 million people, says the report

China may ease Covid Zero by 2022-end to aid economy, says Mobius

China will probably ease its disruptive Covid Zero policy by the end of this year as its economy is in trouble and the government needs money "badly," said Mark Mobius

China's budget deficit nears record $1 trillion as economy slows

Chinese authorities have struggled to make ends meet this year as massive tax rebates and the persistent housing market crisis have cut government income sharply

Oil price rises as US dollar loses steam though demand fears linger

Oil prices rose as the US dollar eased against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from key oil importing economies

China's economic growth accelerates but slowest in decades amid shutdowns

China's economic growth accelerated in the latest quarter but still was among the slowest in decades as the country wrestled with repeated closures of cities to fight virus outbreaks. The world's second-largest economy grew by 3.9% over a year earlier in the three months ending in September, up from the previous quarter's 0.4%, official data showed Monday. For the first nine months of the year, growth was 3% over a year earlier. A news conference to announce the figures last week during a meeting of the ruling Communist Party was postponed without explanation. The National Statistics Bureau released the figures on its website without advance notice of the timing. No data were immediately released for growth compared with the previous quarter, the way data for other major economies are measured. The economy shrank by 2.6% in the quarter ending in June compared with the previous three-month period. The ruling party is trying to revive economic growth while enforcing its Zero COVID

Recession could last until 2024, says Musk after remark on China, Europe

Tesla CEO said he thinks a recession will last until the spring of 2024, after earlier saying "a recession of sorts" in China and Europe was weighing on demand for its electric cars

Chinese govt delays GDP data release due Tuesday, no reason given

The National Bureau of Statistics updated its release schedule on Monday, with the dates for major economic indicators due this week marked as delayed

China's economic troubles may shadow boost to Xi Jinping's dominance

Latest data paint a picture of a weak economy, largely a consequence of Xi's zero-tolerance approach to combating Covid infections and a crackdown on property sector debt

$1.2-trn 'PM Gati Shakti' plan can snatch away factories from China

Under a $1.2 trillion mega project called PM Gati Shakti -- Hindi for strength of speed -- Modi's administration is creating a digital platform that combines 16 ministries

China's $5 trillion rout creates historic gap with Indian stocks

The MSCI India Index rallied almost 10% in the just-ended quarter, compared with a 23% slump for the MSCI China Index

China's economy continues to struggle on Covid curbs, property woes

China's fragile economic recovery has been challenged this year by the country's adherence to Covid Zero, a policy intended to stamp out infections that has caused intermittent turmoil to supply chain

China traders see property boost, Covid zero resolve at Party meet in Oct

With expectations low for an imminent shift away from the Covid-Zero policy, some investors are limiting their exposure to reopening shares

Goldman Sachs cuts China's growth forecast for 2023 as Covid Zero stays

Goldman Sachs cut its 2023 economic growth forecast for China sharply, predicting Beijing will stick to its stringent Covid Zero policies through at least the first quarter of next year

China losing predictability as European firms rethink future investments

Recent Chinese policy decisions mean the country is now seen as "less predictable, less reliable and less efficient" according to the report published by the European Union Chamber of Commerce

China's provinces suffer major fiscal hit from nation's Covid Zero policy

China's doubling down on its zero-tolerance stance toward Covid-19 is draining local-government coffers, posing a fresh threat to the economy and bond investors

Supply chains aren't broken, have evolved for the better in some places

The dismal state of American manufacturing combined with resilient Asian supply chains has brought into focus the crucial global role of industrial giants like South Korea, China and Japan

China's chip output shrinks as India, US ramp up local manufacturing

As India and the US double down on domestic semiconductor manufacturing, China witnessed its biggest-ever monthly decline in chip manufacturing in August

China's consumer spending, factory output improve but still remain weak

Chinese consumer spending and factory output edged up in August but still were weak, official data showed Friday, and forecasters warned the second-largest economy is vulnerable to repeated shutdowns of cities to fight virus outbreaks. Housing sales plummeted while prices edged lower, adding to a slide in real estate activity under pressure from a government campaign to control surging corporate debt that set off an economic slump in mid-2021. China's economy held up slightly better than anticipated last month, but momentum still weakened, said Julian Evans-Pritchard of Capital Economics in a report. September is shaping up to be even worse. Chinese leaders are trying to prop up economic growth that sank to 2.5% over a year earlier in the first six months of 2022, less than half the official 5.5% target, without big stimulus spending that might push up debt and housing costs. Economists say this year's Chinese economic growth might come in below 3%, less than half of last year's 8.

China braces for a slowdown even worse than 2020 as growth declines sharply

The consensus in a Bloomberg survey is for the economy to expand 3.5% this year, which would be the second-weakest annual reading in more than four decades

China rolls out property policies to boost demand, fix real estate crisis

A flurry of Chinese cities are rolling out measures to boost housing demand, signaling the government's intention to arrest a property crisis.