China’s Boom Is Over—Beijing Is Making It Worse
1 year ago

China’s Boom Is Over—Beijing Is Making It Worse

Live Mint  

China’s fundamental challenges—including weak demographics and heavy debts—are indeed tough. The big targets themselves didn’t contain any surprises: Like last year, Beijing is aiming for “around" 5% growth, 3% inflation and 12 million new urban jobs. But it Given how bad things have been, Chinese short-term interbank rates and government bond yields have remained notably high over the past half year: about level with where they sat during the last big downturn in early 2016, when both growth and inflation were still considerably higher. Economists at the French bank Natixis estimate that China’s real, inflation-adjusted interest rates have since late 2021 been well above the “neutral rate" which would encourage full employment and stable inflation—and that it may take a reduction of close to a full percentage point in real rates to rectify that. Much of China’s real fiscal spending is done off budget by local governments and state-run policy banks, but financing that may be difficult without lower rates—especially if Beijing wants to avoid crowding out already-weak private investment.

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China economy: Beijing unveils plan to boost consumption as Trump tariffs bite
1 week, 3 days ago

China economy: Beijing unveils plan to boost consumption as Trump tariffs bite

CNN  

Hong Kong CNN — China has announced a wide-ranging “special action plan” to promote domestic spending, in an effort to counter the economic impact of tariffs imposed by US President Donald Trump. The plan builds on Premier Li Qiang’s promise during a major political meeting earlier this month to ensure that the “giant ship of China’s economy” will “sail steadily …

China set to stimulate growth amid global uncertainty
2 weeks, 1 day ago

China set to stimulate growth amid global uncertainty

China Daily  

Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. Experts provide insights on the country's economic trends amid global uncertainties, and delve into China's evolving role as a primary driver of global growth. Below are some excerpts: Stimulating domestic demand key to stabilizing markets The Government Work Report submitted to the National People's Congress, China's …

China says it has ‘ample’ policy tools to spur growth
2 weeks, 5 days ago

China says it has ‘ample’ policy tools to spur growth

Live Mint  

China’s finance minister said Thursday that the government has ample policy tools and flexibility to address both internal and external uncertainties, amid escalating trade tensions with the U.S. China’s central bank governor, Pan Gongsheng, said in the same press conference that the bank would cut interest rates and banks’ reserve requirement ratio at an appropriate time this year. To support …

Sustaining economic growth and other takeaways from the start of China’s legislative session
2 weeks, 6 days ago

Sustaining economic growth and other takeaways from the start of China’s legislative session

Associated Press  

BEIJING — China on Wednesday kicked off its annual parliamentary session, the National People’s Congress, which outlines the government’s priorities for the year. Share Share Copy Link copied Email Facebook X Reddit LinkedIn Pinterest Flipboard Print The main priority outlined in Li’s report was addressing “inadequate domestic demand, particularly insufficient consumption,” as well as making “domestic demand the main engine …

China's annual session opens amidst trade war and economic uncertainty
3 weeks ago

China's annual session opens amidst trade war and economic uncertainty

Firstpost  

Pressure is mounting on Chinese policymakers to implement measures that put more money in consumers’ wallets while reducing the world’s second-largest economy’s reliance on exports and investment for development Chinese President Xi Jinping walks out at the end of the opening session of the Chinese People's Political Consultative Conference at the Great Hall of the People in Beijing, China. An …

China's economy poised for steady growth in 2025: central bank
1 month, 1 week ago

China's economy poised for steady growth in 2025: central bank

China Daily  

BEIJING -- China's economy is expected to maintain stable growth in 2025, according to the Q4 2024 monetary policy report released by the People's Bank of China on Thursday. China will adopt a more proactive fiscal policy and a moderately loose monetary policy, prioritizing the stabilization of prices at reasonable levels, the central bank said. Monetary authorities will deepen market-driven …

China's economy poised for steady growth in 2025: central bank
1 month, 1 week ago

China's economy poised for steady growth in 2025: central bank

China Daily  

BEIJING -- China's economy is expected to maintain stable growth in 2025, according to the Q4 2024 monetary policy report released by the People's Bank of China on Thursday. China will adopt a more proactive fiscal policy and a moderately loose monetary policy, prioritizing the stabilization of prices at reasonable levels, the central bank said. Monetary authorities will deepen market-driven …

China targets 'proactive' fiscal policy
2 months, 2 weeks ago

China targets 'proactive' fiscal policy

China Daily  

China, with more forceful countercyclical adjustments in mind, will steer toward "very proactive" fiscal policy this year — including increasing the deficit-to-GDP ratio and issuing larger-scale government bonds, and will "front-load" its fiscal firepower to better underpin a positive economic growth trajectory, Vice-Minister of Finance Liao Min said on Friday. In particular, China's current real interest rate on government debt …

China targets 'proactive' fiscal policy
2 months, 2 weeks ago

China targets 'proactive' fiscal policy

China Daily  

China, with more forceful countercyclical adjustments in mind, will steer toward "very proactive" fiscal policy this year — including increasing the deficit-to-GDP ratio and issuing larger-scale government bonds, and will "front-load" its fiscal firepower to better underpin a positive economic growth trajectory, Vice-Minister of Finance Liao Min said on Friday. In particular, China's current real interest rate on government debt …

China’s economy is burdened by years of excess. Here’s how bad it really is.
2 months, 3 weeks ago

China’s economy is burdened by years of excess. Here’s how bad it really is.

Live Mint  

China’s go-go days are behind it as the world’s second-largest economy struggles with the bursting of the biggest real-estate bubble ever. China’s economy today is burdened with excess: Millions of empty or unfinished apartment blocks, trillions of dollars in debt straining local governments and ballooning industrial production driving an export surge that is igniting trade tensions worldwide. Nonetheless, the scale …

China's finance ministry vows to step up fiscal spending in 2025
3 months ago

China's finance ministry vows to step up fiscal spending in 2025

China Daily  

The skyline of Beijing. BEIJING -- China's finance ministry vowed to step up fiscal spending and government bond issuance in 2025, providing stronger support to bolster economic stability. The country will adopt a more proactive fiscal policy next year, and ensure the fiscal policy is continuously forceful and impactful, Finance Minister Lan Fo'an made the remarks during a two-day national …

China to raise fiscal deficit next year to support struggling economy
3 months ago

China to raise fiscal deficit next year to support struggling economy

Live Mint  

China, the world's second-largest economy, plans to raise fiscal deficit to boost spending in 2025 to support its struggling economy, reported AFP, citing state media. In 2024, China took several measures to boost economic growth, such as cutting interest rates, cancelling restrictions on buying houses and easing the debt burden on local governments. According to economists, more direct fiscal stimulus …

China’s Finance Ministry Vows Greater, Faster Spending in 2025
3 months ago

China’s Finance Ministry Vows Greater, Faster Spending in 2025

Live Mint  

China’s finance ministry reaffirmed it will increase public spending with a greater focus on boosting consumption to support the economy next year, ahead of growth headwinds from looming US tariffs. China will “expand the magnitude of fiscal spending and accelerate the spending pace,” according to a statement published Tuesday following a two-day national conference held by the Ministry of Finance …

Six key points to watch as China plans its 2025 economic roadmap
3 months ago

Six key points to watch as China plans its 2025 economic roadmap

China Daily  

Shoppers buy groceries at a supermarket in Shijiazhuang, Hebei province. Analysts believe the multipronged policy announcements from the meeting -- including the adoption of more proactive macro policies, measures to boost domestic demand and efforts to stabilize the property market -- will support stable economic growth, safeguard jobs and consumer prices, boost people's income, and enhance China's appeal to foreign …

China to enact more proactive fiscal policy
Trending News
3 months, 1 week ago

China to enact more proactive fiscal policy

China Daily  

By Liu Yukun | chinadaily.com.cn | Updated: 2024-12-14 13:56 China will enact more proactive fiscal policy and moderately loose monetary policy with detailed measures to be delivered at the two sessions the next year, said an official on Saturday. Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, said the move marked …

China moves to Trump-proof its economy
3 months, 1 week ago

China moves to Trump-proof its economy

Live Mint  

SINGAPORE : China’s leaders promised more government support for their struggling economy next year as they brace for the return of President-elect Donald Trump and another big showdown over trade. An annual gathering of top officials on the economy concluded with pledges to cut interest rates and boost government borrowing to pep up economic growth, according to a report by …

China pledges more borrowing and interest rate cuts to counter Trump’s tariff threats
3 months, 2 weeks ago

China pledges more borrowing and interest rate cuts to counter Trump’s tariff threats

CNN  

China pledged Thursday to increase the budget deficit, borrow more and loosen monetary policy to maintain stable economic growth as it girds for more trade tensions with the United States where Donald Trump is returning as president. A separate readout from state news agency Xinhua, watched by financial markets for references to the yuan currency, kept a pledge to “maintain …

China eases monetary policy stance, vows more fiscal support
3 months, 2 weeks ago

China eases monetary policy stance, vows more fiscal support

Live Mint  

China’s top leaders plan to loosen monetary policy and expand fiscal spending next year, as Beijing braces for a second trade war when Donald Trump takes office next month. The 24-man Politburo led by President Xi Jinping announced it will embrace a “moderately loose” strategy for monetary policy in 2025, marking its first major shift in stance since 2011. The …

China signals more forceful stimulus to come next year
3 months, 2 weeks ago

China signals more forceful stimulus to come next year

Live Mint  

China’s leaders signaled a more forceful policy approach for next year to boost domestic demand, as the world’s second-largest economy braces for escalating trade tensions with the incoming Trump administration. The 24-member Politburo, China’s top decision-making body, pledged Monday in a meeting to implement more proactive fiscal policy and moderately loose monetary policy for next year. Meanwhile, the mention of …

China's leaders vow more 'relaxed' monetary policy in 2025
Trending News
3 months, 2 weeks ago

China's leaders vow more 'relaxed' monetary policy in 2025

New Indian Express  

BEIJING: Chinese President Xi Jinping and other top leaders said Monday they would adopt a more "relaxed" approach to monetary policy as they hashed out plans to boost the economy next year. The world's second-largest economy is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt -- all of which threaten Beijing's official growth …

Policy support driving V-shaped recovery in Q4, experts say
Top News
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, the ongoing round of …

Policy support driving V-shaped recovery in Q4, experts say
Top News
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-11-20 14:59 The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities …

Policy support driving V-shaped recovery in Q4, experts say
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

China's fiscal revenue up 5.5% in October
4 months, 1 week ago

China's fiscal revenue up 5.5% in October

China Daily  

BEIJING -- China's fiscal revenue increased 5.5 percent year on year in October, data from the Ministry of Finance showed Monday. In the first ten months of the year, China's fiscal revenue dipped 1.3 percent year on year. In the first ten months, the central government collected about 8.25 trillion yuan in fiscal revenue, down 3.9 percent year on year, …

China's fiscal revenue up 5.5% in October
4 months, 1 week ago

China's fiscal revenue up 5.5% in October

China Daily  

Xinhua | Updated: 2024-11-18 22:13 File photo shows a worker counts Chinese currency renminbi at a bank in Lianyungang, East China's Jiangsu province. BEIJING -- China's fiscal revenue increased 5.5 percent year on year in October, data from the Ministry of Finance showed Monday. In the first ten months of the year, China's fiscal revenue dipped 1.3 percent year on …

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?
4 months, 2 weeks ago

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?

Live Mint  

China is expected to unveil significant economic measures Friday at the conclusion of the National People's Congress Standing Committee meeting, aiming to revive its struggling economy, AP reported. Analysts believe China may need substantial, multi-trillion-yuan initiatives to reinvigorate growth in the world’s second-largest economy, which has yet to recover fully from the COVID-19 pandemic. Any new spending or economic boost …

China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth
4 months, 2 weeks ago

China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — China has approved a 10 trillion yuan plan to bolster its ailing economy by allowing local governments to refinance their debt, unveiling additional stimulus measures to counter a potentially …

China's Economic Stability: A Steady Beacon Amid Global Uncertainty
4 months, 3 weeks ago

China's Economic Stability: A Steady Beacon Amid Global Uncertainty

China Daily  

China's economy remains a stabilizing force in the global economy, despite the challenges of global geopolitical rivalries and rising government debt. The country's structural reforms and high-quality development strategies have contributed to its stability and growth. China's commitment to high-quality development and its willingness to engage in global trade and cooperation remain crucial for maintaining its economic prosperity and stability …

Growth target within reach on policy effort
5 months, 1 week ago

Growth target within reach on policy effort

The Independent  

With a potent set of new policies being implemented on various fronts, China is on course to achieving its full-year economic growth target of around 5 per cent, signalling the resilience of the country’s economy despite challenges at home and abroad, said a senior expert. Chen Wenling, chief economist at the China Centre for International Economic Exchanges in Beijing, said …

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?
5 months, 1 week ago

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?

Bloomberg  

China’s economic growth target of 5% this year is looking ambitious, given sluggish consumer spending, an uncertain outlook for the country’s exports and a still shaky property market. Fewer than a fifth of economists surveyed by Bloomberg Terminal Bloomberg were predicting gross domestic product would expand by 5% in 2024, as analysts at lenders such as Bank of America Corp. …

Experts urge policy steps to help recovery
6 months, 2 weeks ago

Experts urge policy steps to help recovery

China Daily  

A cashier counts RMB notes in a bank in Haian, Jiangsu province. During a news conference on Thursday, Zou Lan, head of the monetary policy department of the People's Bank of China, the country's central bank, said that the current average RRR of financial institutions — the proportion of deposits they must keep as reserves — is about 7 percent, …

China's fiscal revenue down 2.6% in Jan-July
7 months ago

China's fiscal revenue down 2.6% in Jan-July

China Daily  

File photo shows a worker counts Chinese currency renminbi at a bank in Lianyungang, East China's Jiangsu province. BEIJING -- China's fiscal revenue dipped 2.6 percent year-on-year in the first seven months of this year, official data showed Monday. A breakdown of the data showed the country's tax revenue decreased 5.4 percent from one year earlier, while its non-tax revenue …

China revs up fiscal policy support to spur economic recovery
7 months, 3 weeks ago

China revs up fiscal policy support to spur economic recovery

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. BEIJING - China is making efforts to step up its fiscal policy support and ensure the implementation of established policies, aiming to consolidate its economic recovery as rising external headwinds weigh on growth. The country will strengthen its fiscal policy to ensure the economy sustains its recovery momentum, …

China to step up fiscal policy implementation to spur economic recovery: official
7 months, 3 weeks ago

China to step up fiscal policy implementation to spur economic recovery: official

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. The country will issue the ultra-long special treasury bonds in a timely manner and make good use of the funds raised from the bond sales, Lin Zechang, of the Ministry of Finance, told a press conference. Lin said that the country will also speed up the issuance …

Broad govt spending needed to boost long-term growth
8 months ago

Broad govt spending needed to boost long-term growth

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. Reduced government spending decreased total market demand and could further suppress economic activity, affecting key economic areas such as business investment and consumer spending, leading to poor growth momentum and even contraction. As a matter of fact, government bonds are foundational financial assets and the base of the …

China to step up efforts for financial reforms
8 months, 1 week ago

China to step up efforts for financial reforms

China Daily  

The Central Committee of the Communist Party of China holds a news conference on the guiding principles from the third plenary session of the 20th CPC Central Committee on July 19, 2024. China expects to improve its macroeconomic governance system with further efforts to deepen the reform of the fiscal and financial systems as well as enhanced fiscal policy consistency, …

China to step up efforts for financial reforms
8 months, 1 week ago

China to step up efforts for financial reforms

China Daily  

The Central Committee of the Communist Party of China holds a news conference on the guiding principles from the third plenary session of the 20th CPC Central Committee on July 19, 2024. China expects to improve its macroeconomic governance system with further efforts to deepen the reform of the fiscal and financial systems as well as enhanced fiscal policy consistency, …

China’s Communist Party charts technology- and security-focused development for reviving the economy
8 months, 1 week ago

China’s Communist Party charts technology- and security-focused development for reviving the economy

Associated Press  

BANGKOK — In a year of major elections that will determine the destinies of many countries, China’s ruling Communist Party is holding closed, top-level meetings in Beijing to set strategies for reviving its slowing economy. State broadcaster CCTV said the agenda for this year’s meetings is to study and endorse “all-around deepening reforms.” Nearly a half-century after the late leader …

China reports generally stable growth in final accounts for 2023
9 months ago

China reports generally stable growth in final accounts for 2023

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. BEIJING -- China's final central government accounts for 2023 were generally stable, with notable progress achieved in the areas of financial reform and development, according to a report delivered to the country's top legislature on Tuesday. The central government's general public budget revenue totaled 9.96 …

China disinflationary headwinds continue as consumers hold back
10 months, 2 weeks ago

China disinflationary headwinds continue as consumers hold back

Live Mint  

BEIJING—China’s consumer prices edged up modestly in April while its factory-gate prices continued to fall, underscoring the challenges that policymakers face in shaking off disinflationary pressures despite stimulus measures aimed at delivering a jolt to the economy. Economists say China’s persistently weak inflation readings suggest Beijing is unlikely to be able to count on the country’s 1.4 billion consumers to …

A tale of China's economic resilience should be retold
11 months, 2 weeks ago

A tale of China's economic resilience should be retold

China Daily  

Participants discuss the outlook for the Chinese economy during the Boao Forum for Asia Annual Conference 2024 in Boao, Hainan province, on Thursday. China remains a major global economic player as the world's second-largest economy. During the 1997 Asian financial crisis, the stability of the renminbi was critical to preventing risk escalation, while the 2008 global financial crisis saw China's …

A tale of China's economic resilience should be retold
11 months, 2 weeks ago

A tale of China's economic resilience should be retold

China Daily  

Participants discuss the outlook for the Chinese economy during the Boao Forum for Asia Annual Conference 2024 in Boao, Hainan province, on Thursday. China remains a major global economic player as the world's second-largest economy. During the 1997 Asian financial crisis, the stability of the renminbi was critical to preventing risk escalation, while the 2008 global financial crisis saw China's …

China's new budget book reveals fiscal priorities for 2024
1 year ago

China's new budget book reveals fiscal priorities for 2024

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. Greater fiscal input The ultra-long special treasury bonds to be issued over each of the next several years, along with other arrangements including budget deficits, special-purpose bonds, preferential tax and fee policies as well as government subsidies, mark the country's strengthened fiscal …

China's alleyways reveal its economic woes as Beijing's legislature devises plan to address them
1 year ago

China's alleyways reveal its economic woes as Beijing's legislature devises plan to address them

ABC  

Walking through Beijing's hutongs, you can easily see the image Xi Jinping's government wants to project to the world. China's foreign minister Wang Yi told the world, "China remains strong as an engine for growth," while addressing foreign media last week. What market stalls tell us about the state of China's economy As hundreds of tourists make their way down …

Fiscal moves to bolster recovery
1 year ago

Fiscal moves to bolster recovery

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing, China. At a news conference on Wednesday on the sidelines of the ongoing annual session of the national legislature, Lan Fo'an, minister of finance, said work will be done to expand fiscal expenditure appropriately to ensure sufficient funding for major national strategic tasks, markedly increase …

China pushes for 5% GDP growth
1 year ago

China pushes for 5% GDP growth

China Daily  

China aims to see economic expansion at around 5 percent for 2024, unchanged from last year, as the world's second-largest economy will leverage intensified and targeted macro policies to sustain stable growth, according to the Government Work Report released on Tuesday. The country pledged to pursue a proactive fiscal policy that will be intensified as appropriate with improved quality and …

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