Global executive bullish on China's momentum
1 year, 8 months ago

Global executive bullish on China's momentum

China Daily  

Rainer Hoefling, CEO of Borouge. China has embraced the positive momentum in its economic recovery in recent months as it fine-tuned its COVID-19 response measures in light of shifting dynamics, said Rainer Hoefling, CEO of Borouge, an Abu Dhabi-based petrochemical company that manufactures recyclable plastics used in many fields, including automobiles, food packaging, medicine vials and piping systems. "The Chinese economy has great resilience and potential and its strong fundamentals will not change, which bodes well for a steady and sustainable growth and offers great opportunities for global companies," Hoefling said. China has set an annual economic growth goal of about 5 percent for this year and has put expanding its domestic demand high on its agenda, which sends encouraging signals about sharing opportunities and benefits with enterprises worldwide with its massive domestic market, Hoefling said. "Asia, and China in particular, will remain our largest market and key to our future growth," he said, adding that economic recovery in China will positively impact broader sentiment in Asia, which the company expects to stimulate greater investment and demand across the continent.

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History of this topic

China Sees Manufacturing Sector Expand At Muted Pace In December
1 week, 1 day ago

China Sees Manufacturing Sector Expand At Muted Pace In December

ABP News  

The manufacturing activity in China climbed for the third consecutive month in December, however, the pace remained marginal, an official factory survey showed on Tuesday. However, authorities remain optimistic that fiscal and monetary measures released later in the year would lead to a turnaround in the property market, which has weighed down the broader economy. An improvement in domestic demand …

China's economic performance resilient amid challenges
5 months, 3 weeks ago

China's economic performance resilient amid challenges

China Daily  

The skyline of Beijing. China's economy demonstrated a stable expansion in the first half of 2024, achieving a year-on-year GDP growth of 5 percent, equivalent to 61.68 trillion yuan, according to data released by the National Bureau of Statistics on Monday. Key economic indicators GDP growth The first half of 2024 saw China's GDP grow by 5 percent year-on-year. China's …

China's economic performance resilient amid challenges
5 months, 3 weeks ago

China's economic performance resilient amid challenges

China Daily  

The skyline of Beijing. China's economy demonstrated a stable expansion in the first half of 2024, achieving a year-on-year GDP growth of 5 percent, equivalent to 61.68 trillion yuan, according to data released by the National Bureau of Statistics on Monday. Key economic indicators GDP growth The first half of 2024 saw China's GDP grow by 5 percent year-on-year. China's …

Effective policy to steer economy forward
6 months, 1 week ago

Effective policy to steer economy forward

China Daily  

Employees work on the production line of a textile company in Ganzhou, Jiangxi province. China's economy is on track for steady recovery in the second half given effective policy stimulus measures and thriving new growth drivers, said economists and executives. The Caixin China General Manufacturing Purchasing Managers' Index rose to 51.8 in June from 51.7 in May, the highest level …

Stabilizing economy augurs well for global growth
7 months, 3 weeks ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Stabilizing economy augurs well for global growth
7 months, 3 weeks ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Stabilizing economy augurs well for global growth
7 months, 3 weeks ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Stabilizing economy augurs well for global growth
7 months, 3 weeks ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Good start for China's economy is also good for world growth
8 months, 3 weeks ago

Good start for China's economy is also good for world growth

China Daily  

A view of Beijing's CBD area. China's GDP grew 5.3 percent year-on-year in the first quarter of this year, up 1.6 percent from the fourth quarter of last year, showing China's economy is on a solid footing for continued recovery, which will further enhance international expectations for China's development prospects. A series of international financial institutions such as the Asian …

China reports 5.3% GDP growth for Q1
8 months, 3 weeks ago

China reports 5.3% GDP growth for Q1

China Daily  

By Ouyang Shijia | chinadaily.com.cn | Updated: 2024-04-16 10:02 China's gross domestic product expanded by 5.3 percent year-on-year in the first quarter after a 5.2 percent rise in the fourth quarter, official data showed on Tuesday, boding well for a steady economic recovery in the following months. On a quarter-on-quarter basis, China's GDP grew by 1.6 percent in the first …

China reports 5.3% GDP growth for Q1
8 months, 3 weeks ago

China reports 5.3% GDP growth for Q1

China Daily  

By Ouyang Shijia | chinadaily.com.cn | Updated: 2024-04-16 10:02 China's gross domestic product expanded by 5.3 percent year-on-year in the first quarter after a 5.2 percent rise in the fourth quarter, official data showed on Tuesday, boding well for a steady economic recovery in the following months. On a quarter-on-quarter basis, China's GDP grew by 1.6 percent in the first …

Nation's growth target seen as achievable, appropriate
9 months, 1 week ago

Nation's growth target seen as achievable, appropriate

China Daily  

This aerial photo taken on June 10, 2023 shows the night view of the urban areas in Guangzhou, South China's Guangdong province. A moderately rapid growth of around 5 percent annually is both achievable and appropriate for a country at China's stage of development, a senior economist said. Jeffrey Sachs, a world-renowned professor of economics and director of the Center …

China will continue to make strides, and contribute to global economy
9 months, 2 weeks ago

China will continue to make strides, and contribute to global economy

China Daily  

An aerial drone photo shows a container vessel berthing at the smart zero-carbon terminal of Tianjin Port in North China on Feb 2. In the first two months of this year, China's total retail sales of consumer goods increased by 5.5 percent year-on-year, reflecting further strengthening of its consumption momentum. In January, 4,588 new foreign-invested enterprises were established in China, …

China says economy got a strong start in 2024, sets sights on latest technology, upgrading factories
10 months ago

China says economy got a strong start in 2024, sets sights on latest technology, upgrading factories

Associated Press  

BEIJING — China has plenty of room to maneuver to attain its annual target for robust economic growth of about 5% after a strong start for the year, top economic officials said Wednesday, though they acknowledged it’s a challenge. It’s hard to fully meet needs using existing funding channels and there’s an urgent need to increase support,” he said at …

5 reasons why China's 5% GDP growth target is in the news
10 months ago

5 reasons why China's 5% GDP growth target is in the news

Firstpost  

Analysts have been warning investors to stay away from investing in China. Goldman Sachs chief investment officer Sharmin Mossavar-Rahmani said, ‘Most people think that is not the real growth number—it was actually a lot weaker’ Premier Li Qiang addressed National People's Congress at the Great Hall of the People in Beijing on Monday. Reuters file China is still in the …

Economists express confidence in growth this year
10 months, 1 week ago

Economists express confidence in growth this year

China Daily  

An employee of an engineering equipment manufacturer in Nanjing, Jiangsu province, works on Thursday at the company's production line. Although the broader economy is still facing challenges from the lack of demand and a complicated external environment, he said, "The momentum of China's economic recovery is poised to undergo further consolidation in 2024, propelled by robust policy support, the advancement …

China seen as largest engine for world economic growth
10 months, 2 weeks ago

China seen as largest engine for world economic growth

China Daily  

Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. China's GDP exceeded 126 trillion yuan in 2023, up 5.2 percent over the previous year, making it the largest engine of global growth. As China's growth is likely to exceed expectations, emerging Asian economies as a whole are projected by the IMF to grow by 5.2 percent …

China to remain top contributor to global growth in 2024: IMF
11 months, 1 week ago

China to remain top contributor to global growth in 2024: IMF

China Daily  

Despite a moderate slowdown, China's economy will remain the largest contributor to global growth in 2024, said Steven Barnett, senior resident representative of the International Monetary Fund in China. "China would still be the single-largest contributor to contribute over one-quarter of global growth this year," Barnett said in an exclusive interview with China Daily, adding that the over-a-quarter contribution is …

China to remain top contributor to global growth in 2024: IMF
11 months, 1 week ago

China to remain top contributor to global growth in 2024: IMF

China Daily  

Despite a moderate slowdown, China's economy will remain the largest contributor to global growth in 2024, said Steven Barnett, senior resident representative of the International Monetary Fund in China. "China would still be the single-largest contributor to contribute over one-quarter of global growth this year," Barnett said in an exclusive interview with China Daily, adding that the over-a-quarter contribution is …

China’s economy expanded 5.2% last year, hitting the government’s target despite an uneven recovery
11 months, 3 weeks ago

China’s economy expanded 5.2% last year, hitting the government’s target despite an uneven recovery

Associated Press  

HONG KONG — China’s economy for the October-December quarter grew at a quicker rate, allowing the Chinese government to hit its target of about 5% annual growth for 2023 even though trade data and the economic recovery remain uneven. Officials from China’s National Bureau of Statistics said that measures including “strengthened macro regulation, and redoubled efforts to expand domestic demand, …

China reports 5.2% GDP growth for 2023
11 months, 3 weeks ago

China reports 5.2% GDP growth for 2023

China Daily  

China's gross domestic product expanded by 5.2 percent in 2023 - meeting the country's preset annual growth target of around 5 percent, fueled by a slew of policy measures taking effect gradually last year, official data showed on Wednesday. Experts called China's 2023 GDP growth as "relatively fast" in contrast to other major economies, highlighting China's role as a key …

China reports 5.2% GDP growth for 2023
11 months, 3 weeks ago

China reports 5.2% GDP growth for 2023

China Daily  

China's gross domestic product expanded by 5.2 percent in 2023 - meeting the country's preset annual growth target of around 5 percent, fueled by a slew of policy measures taking effect gradually last year, official data showed on Wednesday. Experts called China's 2023 GDP growth as "relatively fast" in contrast to other major economies, highlighting China's role as a key …

World Bank, ADB project China GDP growth of 5.2% in 2023
1 year ago

World Bank, ADB project China GDP growth of 5.2% in 2023

China Daily  

A view of Beijing's CBD area. The World Bank has predicted China's economy will have grown 5.2 percent in 2023, with momentum expected to stabilize in the near term, propelled by a gradual recovery of consumer sentiment and policy stimulus. As global growth is projected to remain tepid at 2.4 percent next year, the world's second-largest economy is expected to …

China's economic resilience: Beyond Western misconceptions
1 year, 4 months ago

China's economic resilience: Beyond Western misconceptions

China Daily  

Containers are unloaded from a ship at a port of Qingdao, East China's Shandong province. Recent claims by some Western politicians and media outlets alleging that China's economic slowdown could jeopardize global growth deeply misconstrue realities. Furthermore, propagandized portrayals of looming "China collapse" theories reveal more about internal Western anxieties than actual Chinese economic conditions. Objective examination of China's durable …

Source of strength for recovery of global economy
1 year, 4 months ago

Source of strength for recovery of global economy

China Daily  

A view of Guangzhou's CBD area. Editor's Note: The following are excerpts of Foreign Ministry spokesman Wang Wenbin's response to a question at a regular news conference in Beijing on Wednesday about some Western politicians and media claiming that China's economic slowdown may pose risks to global economic growth: The fact is that China's economy continues to recover. According to …

BCG says China crucial to global economic growth
1 year, 6 months ago

BCG says China crucial to global economic growth

China Daily  

Wu Chun, managing partner of Boston Consulting Group Greater China. China has remained a major driving force for global growth and the country's strong economic recovery helps boost confidence in global economy, said Wu Chun, managing partner of Boston Consulting Group Greater China. According to BCG's estimates, China is projected to contribute at least 25 percent of global economic growth …

BCG says China crucial to global economic growth
1 year, 6 months ago

BCG says China crucial to global economic growth

China Daily  

China has remained a major driving force for global growth and the country's strong economic recovery helps boost confidence in global economy, said Wu Chun, managing partner of Boston Consulting Group Greater China. According to BCG's estimates, China is projected to contribute at least 25 percent of global economic growth by 2030. "China's economy stabilized and rebounded to a good …

China’s premier says economic growth is accelerating and the country can hit its 5% target this year
1 year, 6 months ago

China’s premier says economic growth is accelerating and the country can hit its 5% target this year

Associated Press  

BEIJING — China’s No. 2 leader said Tuesday that economic growth accelerated in the latest quarter and expressed confidence it can hit the ruling Communist Party’s official target of 5% for the year. Premier Li Qiang, speaking at a conference in the eastern city of Tianjin, gave no figure for the three months ending in June but said it was …

China factory output, consumption highlight frail post-COVID economic recovery
1 year, 7 months ago

China factory output, consumption highlight frail post-COVID economic recovery

The Hindu  

China's April industrial output and retail sales growth undershot forecasts, suggesting the economy lost further momentum at the start of the second quarter and adding pressure on policymakers to shore up a wobbly post-COVID recovery. "Today's weaker-than-expected data show how difficult it is to keep the growth engine running after restarting it," said Bruce Pang, chief economist at Jones Lang …

China’s economic growth accelerates with consumption boost
1 year, 8 months ago

China’s economic growth accelerates with consumption boost

Associated Press  

BEIJING — China’s economic growth accelerated in the latest quarter as consumer flocked back to shops and restaurants following the abrupt end of anti-virus controls. But authorities cautioned that China will likely face import and export pressures in the coming months amid an uncertain international economic environment, and also warned of inadequate domestic market demand in the world’s No. Earlier …

China's economy expected to rebound as zero-Covid era fades
1 year, 8 months ago

China's economy expected to rebound as zero-Covid era fades

Deccan Chronicle  

BEIJING: China is expected to announce an economic rebound on Tuesday, when Beijing releases its first quarterly GDP figures since abolishing growth-sapping Covid restrictions late last year. Property perils A creeping crisis in the property sector -- which together with construction accounts for around a quarter of China's GDP -- continues to "pose challenges to economic growth", said Rabobank analyst …

China's economy gaining momentum, top regulator says
1 year, 9 months ago

China's economy gaining momentum, top regulator says

China Daily  

A view of Beijing's CBD area on Aug 19, 2022. China's economy is stabilizing and gaining momentum amid a steady recovery this year, and the country has the confidence and capabilities to foster high-quality development, according to the country's top economic regulator. He said the country will also make a big push to boost the spending power, actively expand effective …

Economic rebound prompts investment, new goals for foreign multinationals
1 year, 9 months ago

Economic rebound prompts investment, new goals for foreign multinationals

China Daily  

A hair show is held at the Shanghai Stadium by L'Oreal Paris Pro on March 2. China's steady economic rebound, encouraging signals and efficient policies introduced during the two sessions are boosting confidence among multinational companies operating in the country. Eager to turn those prospects into reality, foreign companies are ramping up investment, expanding their business lines and chalking up …

China sets this year’s economic growth target at ‘around 5%'
1 year, 10 months ago

China sets this year’s economic growth target at ‘around 5%'

Associated Press  

BEIJING — China’s government announced plans for a consumer-led revival of the struggling economy as its legislature opened a session Sunday that will tighten President Xi Jinping’s control over business and society. Premier Li Keqiang, the top economic official, set this year’s growth target at “around 5%” following the end of anti-virus controls that kept millions of people at home …

Europe scrapes out economic growth by dodging gas disaster
1 year, 11 months ago

Europe scrapes out economic growth by dodging gas disaster

Associated Press  

FRANKFURT, Germany — Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. He added that “the positive reading could mask underlying weakness in domestic demand” and that “private consumption is likely to have contracted.” “The main …

Two scenarios put 2023 GDP growth at 7% and 5.4%
1 year, 11 months ago

Two scenarios put 2023 GDP growth at 7% and 5.4%

China Daily  

Employees work at an assembly line of the North China base of FAW-Volkswagen in North China's Tianjin, Jan 11, 2023. Our expectations are that in the first scenario, GDP growth for 2023 will be around 7.0 percent. In such a scenario, we expect the country's overall GDP growth for 2023 to grow by 5.4 percent. The 5.4 percent recovery stands …

China’s economic growth falls to 3%, gradually reviving
1 year, 11 months ago

China’s economic growth falls to 3%, gradually reviving

Associated Press  

BEIJING — China’s economic growth fell to its second-lowest level in at least four decades last year under pressure from anti-virus controls and a real estate slump, but activity is reviving after restrictions that kept millions of people at home and sparked protests were lifted. Economic growth sank to 2.9% over a year earlier in the three months ending in …

China to inject new impetus into global economy
1 year, 11 months ago

China to inject new impetus into global economy

China Daily  

Foreign enterprises and international experts believe that China's optimization of COVID-19 response, which expands the flows of people, will help activate the country's economic vitality and potential, and bring important benefits to world recovery and growth. Daniel Lacalle, chief economist at Spain's asset manager Tressis Management, noted that China's optimization of COVID-19 response is good news to the market in …

IMF chief's advice to China on reopening economy amid Covid
1 year, 11 months ago

IMF chief's advice to China on reopening economy amid Covid

Hindustan Times  

The head of the International Monetary Fund urged China to move forward with reopening its economy, calling the nation’s transition from a Covid Zero policy to more normal functioning likely the single most important factor for global growth in 2023. Read here: WHO says Covid deaths in China ‘heavily underreported’; praises US transparency The Washington-based financial institution believes that a …

China’s economy reels as Beijing lifts ‘zero-covid’ measures
2 years ago

China’s economy reels as Beijing lifts ‘zero-covid’ measures

Live Mint  

BEIJING : Chinese manufacturing and service-sector activity fell to their lowest levels since the initial throes of the coronavirus pandemic in early 2020, highlighting the breadth of the tumult as waves of infections roar through the world’s second-largest economy following Beijing’s abrupt decision to scrap its draconian “zero-Covid" measures. China’s official manufacturing purchasing managers index fell to 47.0 in December, …

China’s economy reels as Beijing lifts ‘Zero-Covid’ measures
2 years ago

China’s economy reels as Beijing lifts ‘Zero-Covid’ measures

Live Mint  

Chinese manufacturing and service-sector activity fell to their lowest levels since the initial throes of the coronavirus pandemic in early 2020, highlighting the breadth of the tumult as waves of infections roar through the world’s second-largest economy following Beijing’s abrupt decision to scrap its draconian “zero-Covid” measures. China’s official manufacturing purchasing managers index fell to 47.0 in December, the lowest …

China’s economic growth accelerates but weak amid shutdowns
2 years, 2 months ago

China’s economic growth accelerates but weak amid shutdowns

Associated Press  

BEIJING — China’s economic growth accelerated in the latest quarter but still was among the weakest in decades as the ruling Communist Party tries to reverse a downturn while enforcing anti-virus controls and a crackdown on debt in its vast real estate industry. The world’s second-largest economy grew by 3.9% over a year earlier in the three months ending in …

China’s economy slows sharply, fanning global recession fears
2 years, 5 months ago

China’s economy slows sharply, fanning global recession fears

Al Jazeera  

Second quarter expansion of 0.4 percent is the weakest performance since the initial coronavirus outbreak in Wuhan. China’s economy grew at the slowest pace since the start of the COVID-19 pandemic in the second quarter, highlighting the punishing economic toll of Beijing’s stringent “dynamic zero COVID” strategy. The world’s second-largest economy expanded just 0.4 percent year on year between April …

Growth remains resilient despite COVID-19, geopolitical issues
2 years, 5 months ago

Growth remains resilient despite COVID-19, geopolitical issues

China Daily  

Despite challenges and pressure from the COVID-19 epidemic and geopolitical tensions, China's economy remains resilient, and the country has plenty of policy tools to maintain sustained and healthy economic development, experts said. Liu Xiaoguang, an associate professor at Renmin University of China's National Academy of Development and Strategy, said China's economy may expand slightly in the second quarter, and his …

China’s economy grows still-weak 4.8% in January-March
2 years, 8 months ago

China’s economy grows still-weak 4.8% in January-March

Associated Press  

BEIJING — Chinese leaders face pressure to shore up sinking economic growth after Shanghai and other cities shut down to fight coronavirus outbreaks, threatening to disrupt global trade and manufacturing. “China’s economic performance is likely to remain lackluster in the near-term.” The ruling Communist Party, which set a 5.5% growth target this year, already was trying to reverse a slump …

China’s economy grows still-weak 4.8% in January-March
2 years, 8 months ago

China’s economy grows still-weak 4.8% in January-March

Associated Press  

BEIJING — China’s economic growth edged up to a still-weak 4.8% over a year earlier in the first three months of 2022 as industrial cities shut down to fight coronavirus outbreaks, threatening to disrupt global trade and manufacturing. Growth in the world’s second-largest economy crept up from the previous quarter’s 4% following a slump triggered by tighter controls on use …

China steers economy through challenges
2 years, 8 months ago

China steers economy through challenges

China Daily  

Editor's note: The Chinese economy faces severe challenges because the wave of the COVID-19 infections could lower GDP growth. MA XUEJING/CHINA DAILY Some foreign media say China's economic growth target of about 5.5 percent is too high, and its economic prospects are unattainable. The"2022 White Paper on the Business Environment in China" and the "2022 Special Report on the State …

China’s growth beats forecasts, but COVID, Ukraine risks grow
2 years, 8 months ago

China’s growth beats forecasts, but COVID, Ukraine risks grow

Al Jazeera  

China’s economy beat expectations in the first quarter, growing 4.8 percent year on year, government data showed on Monday, amid mounting fears of a sharp slowdown due to Beijing’s draconian “zero-COVID” policies and the Ukraine war. “In other words, I would say that the Q1 GDP offers a somewhat distorted picture of what is really happening on the ground.” Growing …

China’s economic growth slows to still-robust 7.9%
3 years, 5 months ago

China’s economic growth slows to still-robust 7.9%

Associated Press  

BEIJING — China’s economic growth slowed to a still-strong 7.9% over a year earlier in the three months ending in June as a rebound from the coronavirus leveled off. China’s growth in the April-June quarter over the previous three months, the way other major economies report results, was 1.3%, reflecting a return to normal for factory activity and consumer spending …

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