China’s economy plunged before major Covid policy shift. A rebound may be months away
2 years ago

China’s economy plunged before major Covid policy shift. A rebound may be months away

CNN  

Hong Kong CNN — The end of pandemic restrictions in China will eventually usher in a strong economic rebound as the country learns to live with the Covid virus, according to economists, even as a slew of data showed business activity plummeting in November. “We reckon that the incoming migration around the Chinese New Year holiday in late January could bring about an unprecedented spread of Covid and severe disruptions to the economy,” according to Nomura analysts. A crisis has engulfed China’s massive real estate market since last year, when some high-profile developers defaulted on their debt on a liquidity squeeze first triggered by a regulatory crackdown on excessive borrowing. In November, sales from the 100 biggest real estate developers contracted 34.4% from a year ago, according to a private survey by China Index Academy, a top real estate research firm. “It is possible that more restrictive measures will come from the West to contain China’s manufacturing sector, triggering further decoupling,” said Natixis analysts, adding that these restrictive measures would also hinder China’s long-term potential growth.

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History of this topic

China Property Flare-Ups Resurface as Crisis Enters Fifth Year
3 days, 7 hours ago

China Property Flare-Ups Resurface as Crisis Enters Fifth Year

Live Mint  

One of China’s leading developers is now on authorities’ radar for default risk. As China’s property debt crisis enters its fifth year, there’s little indication that distressed developers are finding it easier to repay debt as a slump in home sales continues. “Against this backdrop, we can’t rule out the possibility of some more defaults next year, albeit the overall …

November blues: Retail slump, property woes show China’s economy not responding to Xi’s push
1 week, 2 days ago

November blues: Retail slump, property woes show China’s economy not responding to Xi’s push

Firstpost  

China’s economy in November has sparked concerns about its ability to boost domestic demand in a world full of uncertainties. Reports from the South China Morning Post and The Economic Times highlight mixed results in key areas like retail sales, property investments and industrial output. The South China Morning Post noted that while November’s retail figures seemed weak, combining data …

China retail sales slow as consumers hold back, while home prices fall
1 week, 2 days ago

China retail sales slow as consumers hold back, while home prices fall

Associated Press  

BANGKOK — Chinese retail sales slowed in November and housing prices fell, the government said Monday, with demand still lackluster despite a flurry of stimulus measures over the past few months. “However, we must Retail sales rose 3% from a year earlier, down from October’s 4.8% increase and below the 3.5% annual rate in January-November. “China’s economy appears to have …

China’s property slump may extend into 2025, Fitch Ratings says
3 weeks, 5 days ago

China’s property slump may extend into 2025, Fitch Ratings says

Hindustan Times  

-- China’s multiyear property crisis is set to drag on in 2025 as prices and sales remain weak despite the government’s stimulus push to spur demand, according to Fitch Ratings. China’s property slump may extend into 2025, Fitch Ratings says China’s new home prices will fall by another 5% next year, as measured by China’s official statistics bureau, or roughly …

Global news wrap: COP tussle, monetary policies, luxury market fall
4 weeks ago

Global news wrap: COP tussle, monetary policies, luxury market fall

Live Mint  

Every month, Mint’s Plain Facts section brings out an update on key global data to thread together the biggest developments in the world that are worth paying attention to. Meanwhile, with the one-sided casualty in the Israel-Hamas war, with 43,000 Palestinians dead and 1.9 million internally displaced, the International Criminal Court has issued arrest warrants for Israel’s prime minister Benjamin …

After $1.4 trillion package, China to cut homebuying taxes to revive ailing economy
1 month, 1 week ago

After $1.4 trillion package, China to cut homebuying taxes to revive ailing economy

Firstpost  

In the latest step to support ailing economy, China is expected to cut taxes for buying homes, according to Bloomberg In the latest step to support its ailing economy, China is expected to cut homebuying taxes, according to Bloomberg. The decision to cut homebuying taxes would come days after the announcement of a $1.4 trillion package to bail out local …

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?
1 month, 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 Residential Property Sales Rebound as Stimulus Boosts Buyer Morale
1 month, 3 weeks ago

China Residential Property Sales Rebound as Stimulus Boosts Buyer Morale

Live Mint  

China's residential property sales rose in October, marking the first on-year increase since 2024. The value of new-home sales increased by 7.1%, reversing a 37.7% slump in September. The improvement was driven by stimulus measures that eased borrowing costs and relaxed buying restrictions in major cities. However, analysts remain concerned about the sector's decline and the need for further policy …

China has been plunged into a major financial crisis - this is how it could damage the investments in YOUR pension or Isa: JOHN-PAUL FORD ROJAS
1 month, 3 weeks ago

China has been plunged into a major financial crisis - this is how it could damage the investments in YOUR pension or Isa: JOHN-PAUL FORD ROJAS

Daily Mail  

China is in a major economic crisis - perhaps the most serious since it set out on its dizzying trajectory of economic growth more than four decades ago. The People's Bank of China is taking action against a screeching slowdown in economic growth by cutting interest rates and offering more support to banks and the housing sector 'It is fair …

$1.80 dinners and budget clothes? The spread of frugality is hurting China’s economy
2 months ago

$1.80 dinners and budget clothes? The spread of frugality is hurting China’s economy

LA Times  

China’s 1.4 billion consumers once spent with enough abandon to help drive the global economy. While the bigger factor is a worsening real estate downturn, which has eroded demand for commodities and diminished a crucial vehicle for household wealth and investment, economists say China’s economy is unlikely to recover without a rise in domestic spending. Chinese consumers are going through …

China’s economy grows at a 4.6% rate in the last quarter, falls short of the official target
2 months ago

China’s economy grows at a 4.6% rate in the last quarter, falls short of the official target

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The latest data show the world’s second largest economy …

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?
2 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. …

China's economy softens in August as Beijing continues to grapple with lagging demand
3 months, 1 week ago

China's economy softens in August as Beijing continues to grapple with lagging demand

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China’s economy softened in August, …

China’s economy fails to pick up after worst stretch in five quarters
4 months, 1 week ago

China’s economy fails to pick up after worst stretch in five quarters

Hindustan Times  

China’s weakening economic momentum failed to pick up as sluggish confidence weighs on consumption and investment, putting the government’s annual growth target at risk. “It tells us that maybe one day, the weakness in the demand-side will return to bite the other side.” The latest snapshot of the $17 trillion economy shows domestic demand is barely benefiting from recent government …

To revive the economy, China wants consumers to buy better stuff
4 months, 3 weeks ago

To revive the economy, China wants consumers to buy better stuff

Live Mint  

Everywhere you look, the world’s politicians face tough economic choices. A survey by China’s central bank in April showed that over 60% of city-dwellers want to increase the amount in their savings accounts. America’s cash-for-clunkers programme, introduced in 2009 during the global financial crisis, prompted 360,000 extra car purchases in two months, according to Atif Mian of Princeton University and …

China cuts 1-year benchmark rate and doubles subsidies for EVs in its ‘cash for clunkers’ program
5 months ago

China cuts 1-year benchmark rate and doubles subsidies for EVs in its ‘cash for clunkers’ program

Associated Press  

BANGKOK — China ratcheted up its effort to reinvigorate its slowing economy Thursday by unexpectedly cutting a key policy rate and also doubling subsidies for electric vehicles bought to replace older cars. The People’s Bank of China said it cut its lending rate for one-year medium term policy loans by 20 basis points to 2.3%. Major state-run banks cut deposit …

China’s Communist Party charts technology- and security-focused development for reviving the economy
5 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’s economy slowed in the last quarter as weak consumer demand dragged on growth
5 months, 1 week ago

China’s economy slowed in the last quarter as weak consumer demand dragged on growth

Associated Press  

BANGKOK — China’s economy expanded at a slower-than-forecast 4.7% annual rate in the last quarter, the government reported Monday, while emphasizing signs of improvement in factory output, income and investment. “Since the beginning of this year, global economic growth momentum has been weak, inflation is sticky, geopolitical conflicts, international trade frictions and other problems have occurred frequently, domestic demand is …

China needs more momentum in its economic recovery
5 months, 2 weeks ago

China needs more momentum in its economic recovery

China Daily  

CAI MENG/CHINA DAILY China's economy is still in a post-pandemic recovery stage, with production indicators in January and February showing positive trends. From January to April, China's exports grew 11.4 percent year-on-year, and manufacturing investment maintained a rapid growth rate. Driven by exports and manufacturing investment, industrial production recovered relatively well, with a growth rate of 6 percent from January …

China rolls out new measures to fix its property crisis, spur growth
7 months, 1 week ago

China rolls out new measures to fix its property crisis, spur growth

Associated Press  

China announced a slate of fresh measures Friday to reinvigorate its ailing property industry after the latest data showed housing prices have slumped nearly 10% since the start of the year. He Lifeng, a vice premier, said officials would roll out policies to suit each city and “fight the tough battle of dealing with the risk of unfinished commercial housing.” …

China’s economy grew 5.3% in first quarter, beating expectations, though weak spots remain
8 months, 1 week ago

China’s economy grew 5.3% in first quarter, beating expectations, though weak spots remain

Associated Press  

HONG KONG — China’s economy grew faster than expected in the first quarter of the year with help from policies and stronger demand, though signs of weakness in the troubled housing market persisted. China’s economy has struggled to bounce back from the COVID-19 pandemic but gained momentum late last year as government policies to help the housing market and boost …

China's economy beats expectations, grows at 5.3% in first quarter: Top points
8 months, 1 week ago

China's economy beats expectations, grows at 5.3% in first quarter: Top points

Hindustan Times  

China’s economy beat expectations in the first quarter receiving a boost from policies and an increase in demand, the government said. China's economy has struggled to bounce back from the Covid pandemic as a slowdown in demand and a property crisis in the country has weighed on its growth prompting policymakers to introduce a raft of fiscal and monetary policy …

Is China’s economy finally bottoming out?
8 months, 3 weeks ago

Is China’s economy finally bottoming out?

Live Mint  

Better late than never: After a rough 2023 and early 2024, the first read on China’s economy in March points to a tentative rebound heading into the second quarter. Data released over the weekend showed China’s official factory purchasing managers index in March moving back above the 50-point level separating expansion from contraction for the first time since September. But …

China's key economic indicators pick up pace
9 months, 1 week ago

China's key economic indicators pick up pace

China Daily  

China's economy gained more steam in the first two months of 2024 with improvement in key indicators, including production and investment, the National Bureau of Statistics said on Monday. China's value-added industrial output - a gauge of activity in the manufacturing, mining and utilities sectors - grew by 7 percent in the January-February period from a year earlier after a …

China's key economic indicators pick up pace
9 months, 1 week ago

China's key economic indicators pick up pace

China Daily  

China's economy gained more steam in the first two months of 2024 with improvement in key indicators, including production and investment, the National Bureau of Statistics said on Monday. China's value-added industrial output - a gauge of activity in the manufacturing, mining and utilities sectors - grew by 7 percent in the January-February period from a year earlier after a …

Vantage | Why even the Chinese don't want to invest in China now
9 months, 2 weeks ago

Vantage | Why even the Chinese don't want to invest in China now

Firstpost  

A woman reacts in front of an electronic screen displaying stock prices at a brokerage house in Hangzhou in east China's Zhejiang province, on 5 February, 2024. Chinese investors rush abroad For decades, China’s economy resembled a glamorous cruise liner, attracting investors from around the globe eager to partake in its prosperity. However, recent headlines from Beijing tell a different …

China doubles down on moves to mend its economy and fend off a financial crisis
10 months, 4 weeks ago

China doubles down on moves to mend its economy and fend off a financial crisis

Associated Press  

BANGKOK — China’s leaders launched a barrage of new policies this week to prop up languishing financial markets and rekindle growth in the world’s second-largest economy. The Chinese economy grew at a 5.2% annual pace in 2023, exceeding the government’s target, and many indicators including factory output and retail sales show signs of improvement. Premier Li Qiang chaired a meeting …

Desperate Chinese property developers resort to bizarre marketing tactics
11 months ago

Desperate Chinese property developers resort to bizarre marketing tactics

Live Mint  

China’s real-estate crisis has dragged down the economy, caused massive layoffs and pushed multibillion-dollar companies to the point of collapse. A property company in Tianjin ran a video A residential compound in eastern China’s Zhejiang province promised last year to give home buyers a 10-gram gold bar. Earlier this month, Sheng Songcheng, former head of the statistics department at the …

Chinese shudders: Fewer people is bad news
11 months, 1 week ago

Chinese shudders: Fewer people is bad news

Live Mint  

For an economy already caught in a slowdown, Wednesday’s release of China’s population data made it a double whammy. China’s covid toll was estimated at about 11.1 million last year and 10.4 million in 2022. It now faces an adverse demographic turn, with fewer people who can contribute to economic activity even as an elderly bulge adds to its welfare …

China’s economy expanded 5.2% last year, hitting the government’s target despite an uneven recovery
11 months, 1 week 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’s economy shows sparks of life, despite persisting weakness in troubled real estate sector
1 year, 1 month ago

China’s economy shows sparks of life, despite persisting weakness in troubled real estate sector

Associated Press  

BEIJING — China’s economy showed more signs of reviving in October as retail sales and manufacturing picked up though the property sector remained sluggish, the government said Wednesday. Disruptions to manufacturing, transport, travel and virtually every other aspect of life during the pandemic ended nearly a year ago when China’s leaders abandoned their “zero-COVID” policies aimed at preventing infections. Overall, …

Is COVID making a return to China this winter?
1 year, 1 month ago

Is COVID making a return to China this winter?

Firstpost  

China’s leading respiratory illness expert Zhong Nanshan has warned of a minor COVID-19 surge in the winter and urged the elderly and vulnerable populations to get vaccinated as soon as possible Concerned about an increase of COVID-19 infections in the current winter season, Chinese experts have issued an alert and advised vaccination for vulnerable and old groups. The Chinese Centre …

Economic policy with Chinese characteristics
1 year, 1 month ago

Economic policy with Chinese characteristics

Hindustan Times  

China’s economy has been a tailspin recently that is the result of politics as much as of objective economic conditions. To take just the case of India, the massive telecom revolution in the country would not have been possible without access to cheap Chinese products – and one might add, China’s unscrupulous economic and trade practices of stealing tech, subsidising …

Chinese factory activity contracts in October as pandemic recovery falters
1 year, 1 month ago

Chinese factory activity contracts in October as pandemic recovery falters

Associated Press  

HONG KONG — An official survey of manufacturers shows China’s factory activity contracted in October, suggesting the economy remains on uneven footing. The purchasing managers’ index, or PMI, fell to 49.5 in October on a 100-point scale, down from 50.2 last month, according to the National Bureau of Statistics and the China Federation of Logistics & Purchasing. The non-manufacturing PMI …

China’s inflation data show economy in doldrums despite a slight improvement in trade
1 year, 2 months ago

China’s inflation data show economy in doldrums despite a slight improvement in trade

Associated Press  

HONG KONG — China’s economy remains in the doldrums, data released Friday showed, with prices falling due to slack demand from consumers and businesses. Friday’s data showed food prices dropped 3.2% in September, with the price of pork sliding 22% from a year earlier, a steeper decrease than the 17.9% drop in August. “September’s inflation data remind us that despite …

The city that encapsulates China’s economic stagnation
1 year, 2 months ago

The city that encapsulates China’s economic stagnation

Hindustan Times  

On a Typical evening Zhengzhou’s manufacturing district should be teeming with workers heading back to their dormitories. The city’s difficulties—including a lack of work, falling property prices and banking instability—are acute examples of those facing China at large. And even if the situation has begun to stabilise, Zhengzhou’s experience shows how hard it will be for China to truly escape …

China’s economic growth target of 5% for 2023 at risk due to property crisis
1 year, 2 months ago

China’s economic growth target of 5% for 2023 at risk due to property crisis

Live Mint  

China will just about meet its economic growth target of around 5% for this year, the latest Bloomberg survey shows, although the ongoing property crisis is raising the risk of a miss. “The real estate sector will continue to be under mounting pressure” despite recent government efforts to support property, said analysts at Poseidon Partner, a Hong Kong-based investment firm. …

China may dodge deflation, after all
1 year, 3 months ago

China may dodge deflation, after all

Live Mint  

After a grim June and July, China’s main August economic data, released Friday, contained clear hints of improvement. All of this makes a protracted fall in consumer prices—which could trap China in a 1990s Japan-like cycle of falling prices and ultra-thrifty consumers—less likely. The services sector purchasing managers employment subindex, which plummeted in line with construction employment this spring, has …

China economic data show signs slowdown may be easing, as central bank acts to support growth
1 year, 3 months ago

China economic data show signs slowdown may be easing, as central bank acts to support growth

Associated Press  

BEIJING — China’s factories picked up their pace and retail sales also gained momentum in August, the government reported Friday, suggesting the economy may be gradually recovering from its post-pandemic malaise. “Overall, in August, major indicators improved marginally, the national economy recovered, high-quality development was solidly advanced, and positive factors accumulated,” Fu Linghui, spokesperson for the National Bureau of Statistics, …

China’s factory output improves, offering hope of easing economic slowdown
1 year, 3 months ago

China’s factory output improves, offering hope of easing economic slowdown

Al Jazeera  

China’s factories picked up their pace and retail sales also gained momentum in August, according to government data, suggesting the economy may be gradually recovering from its post-pandemic malaise. Friday’s report showed retail sales rose 4.6 percent in August from a year earlier, with auto sales climbing 5.1 percent. “Overall, in August, major indicators improved marginally, the national economy recovered, …

Explained | On China’s economic slowdown
1 year, 3 months ago

Explained | On China’s economic slowdown

The Hindu  

The story so far: China, at the start of this month announced more measures to revive its flagging economy with major banks clearing the path for additional cuts in lending rates and the amount of funds institutions require to hold in foreign exchange reserves, hoping to prevent a further downturn in the ailing property sector. Economic data coming out of …

Explained: Why China's economic meltdown is making the world nervous
1 year, 4 months ago

Explained: Why China's economic meltdown is making the world nervous

India Today  

China, the world's second-largest economy, is going through a tough time. For starters, China is a dominant global player across most global sectors, with the International Monetary Fund's latest World Economic Outlook predicting the country to contribute over 22 per cent of the global gross domestic product. Therefore, a decline in China's economic activity can severely throw off the global …

China’s July exports tumble by double digits, adding to pressure to shore up flagging economy
1 year, 4 months ago

China’s July exports tumble by double digits, adding to pressure to shore up flagging economy

Associated Press  

BEIJING — China’s exports plunged by 14.5% in July compared with a year earlier, adding to pressure on the ruling Communist Party to reverse an economic slump. “Policymakers have pledged further policy support, which could buoy household spending and lead to an improvement in import growth for the coming few months.” Exports to the United States fell 23% from a …

China’s July exports tumble by double digits, adding to pressure on economy
1 year, 4 months ago

China’s July exports tumble by double digits, adding to pressure on economy

LA Times  

Chinese leaders are trying to shore up business and consumer activity after a rebound sparked by the end of coronavirus controls in December fizzled out earlier than expected. China’s exports plunged by 14.5% in July compared with a year earlier, adding to pressure on the ruling Communist Party to reverse an economic slump. Demand for Chinese exports cooled after the …

China's economy misses growth forecasts, raising odds of more support for slow recovery
1 year, 5 months ago

China's economy misses growth forecasts, raising odds of more support for slow recovery

ABC  

China's missed economic growth forecasts for this year's second quarter is adding to worries over surging youth unemployment and a weak property sector. Key points: Growth in the Chinese economy was less than forecast this quarter Chinese youth unemployment has risen to a record high Property investment also sank by 7 per cent in the last quarter The missed growth …

China exports slumped 12.4% in June from a year earlier as global demand weakened
1 year, 5 months ago

China exports slumped 12.4% in June from a year earlier as global demand weakened

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

China’s factory, consumer activity weakens in May, youth unemployment rises
1 year, 6 months ago

China’s factory, consumer activity weakens in May, youth unemployment rises

Associated Press  

BEIJING — China’s consumer and factory activity weakened in May and record-breaking unemployment among young people in cities rose as an economic rebound following the end of anti-virus controls slowed. Growth will have to accelerate in coming quarters to hit the ruling party’s annual target of “around 5%.” “The data published today suggest that the reopening recovery had largely fizzled …

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 new GDP figures may restore faith in its economy
1 year, 8 months ago

China’s new GDP figures may restore faith in its economy

Hindustan Times  

To Since China abandoned its zero-covid regime at the end of last year, its economic recovery has been both hotly anticipated and closely scrutinised by investors. Sceptics had begun to wonder if demoralised consumers would open their wallets, if faith in a broken property market could be restored, and if a global downswing would undermine China’s upward momentum. China’s GDP …

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 …

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