China\'s yuan hits 15-year low after Xi extends rule
2 years, 5 months ago

China\'s yuan hits 15-year low after Xi extends rule

Deccan Chronicle  

BEIJING: China's yuan hit a 15-year low against the US dollar on Tuesday, with investors spooked after President Xi Jinping gained complete dominance over the Communist Party at a key meeting last week. The offshore yuan -- which is circulated outside mainland China and is more freely traded than currency in the domestic market -- fell to 7.3735 against the dollar, the weakest since clearing banks in Hong Kong were given the go-ahead to open renminbi accounts freely in 2010. China's currency has taken a hit, along with other major currencies, as the Federal Reserve's hawkish tone sends investors piling into the dollar. The announcement over the weekend that Xi had secured a third term as party leader, stacking leadership positions with proteges and allies, raised fears among investors that Chinese authorities would continue zero-Covid lockdowns and other policies that have hammered the economy.

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History of this topic

China struggles to shake off disinflationary pressures as trade threats loom
2 weeks, 6 days ago

China struggles to shake off disinflationary pressures as trade threats loom

Live Mint  

China’s consumer prices nosedived in February, in a sign of stubborn disinflationary pressures, ending a year’s run of tepid price growth and underscoring the challenges policymakers face in stimulating domestic demand as trade tensions intensify. China’s budgetary deficit targets imply a nominal growth target at 4.9% on year, as well as an expected gross domestic product deflator—the broadest measure of …

Yuan slumps on trade-war anxiety; yen jumps
1 month, 3 weeks ago

Yuan slumps on trade-war anxiety; yen jumps

Live Mint  

* Onshore yuan falls following return from extended break * Yen rises on upbeat Japanese wage gain * Dollar on the back foot, giving respite to peers By Rae Wee SINGAPORE, Feb 5 - The yuan sank on Wednesday as a new Sino-U.S. trade war shook Chinese markets returning from an extended Lunar New Year break, while the yen jumped …

China faces harsh dilemma as yuan comes under pressure
2 months, 2 weeks ago

China faces harsh dilemma as yuan comes under pressure

Live Mint  

China is walking a tightrope on its currency. Economic fundamentals suggest a weaker yuan, but the specter of capital outflows still haunts Beijing, making it wary of any sharp moves in the currency. The yuan has made a small but symbolic move lately, with Beijing allowing it to slide past the 7.3 level where state-owned banks had often stepped in …

China’s retail investor sours quickly on stocks
2 months, 2 weeks ago

China’s retail investor sours quickly on stocks

Live Mint  

* Chinese stocks suffered weakest start to new year in a decade * Retail investors sell amid US trade policy uncertainties * Further selling could trigger stampede, hurt economy * Beijing's half-hearted policies lead to investor disillusionment By Samuel Shen and Summer Zhen SHANGHAI/HONG KONG, - Day-trader Lu Delong's optimism for a China stocks rally quickly evaporated in the first …

China central bank is moving faster towards its policy limits
2 months, 2 weeks ago

China central bank is moving faster towards its policy limits

Live Mint  

* PBOC expected to cut rates more aggressively this year * Cenbank dropped prudent stance but may have to stay cautious * Bond buying suspension highlights PBOC constraints * Room for more rate, RRR cuts rapidly narrowing * More easing also raises risk of asset bubbles By Kevin Yao BEIJING, - China's central bank is expected to deploy its most …

How COVID-19 Transformed China’s Domestic and International Trajectory
2 months, 2 weeks ago

How COVID-19 Transformed China’s Domestic and International Trajectory

The Diplomat  

Five years after the novel coronavirus first emerged, China’s major metropolises bear virtually no visible scars of their unprecedented battle with COVID-19. State media acknowledged that the extremely high gross domestic saving rate – over 44 percent in 2023 – reflects “people’s growing insecurity about the future and their inclination to save as a precaution against risks.” Despite Beijing’s efforts …

Yuan eases to 16-month low, pressured by strong dollar
2 months, 3 weeks ago

Yuan eases to 16-month low, pressured by strong dollar

Live Mint  

SHANGHAI, Jan 8 - China's yuan fell to a 16-month low on Wednesday, pressured by a strong dollar and tariff threats from U.S. President-elect Donald Trump's incoming administration, despite the central bank setting stronger-than-expected guidance. "The yuan is expected to face depreciation pressure, not only from tariff hikes but also from a significantly stronger dollar," said Wang Tao, chief China …

Dollar on track for best week in a month
2 months, 3 weeks ago

Dollar on track for best week in a month

Live Mint  

* Dollar lower, but on track for best week in two months * Dour euro zone outlook weighs on euro this week * Traders price in about 40 bps of Fed rate cuts in 2025 By Karen Brettell NEW YORK, Jan 3 - The dollar dipped on Friday but was on track for its strongest weekly performance in a month …

Is China deliberately letting the yuan tank against the US dollar? What is Beijing's strategy?
2 months, 3 weeks ago

Is China deliberately letting the yuan tank against the US dollar? What is Beijing's strategy?

Firstpost  

The value of the yuan has tanked despite the central bank’s seemingly continued efforts to support the currency. With a weaker yuan, China’s exports are bound to become cheaper, making them more appealing to buyers The yuan has breached the 7.3 per dollar mark for the first time since 2023. China’s state-owned banks, a key player in maintaining currency stability, …

China’s economy is burdened by years of excess. Here’s how bad it really is.
2 months, 4 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 …

5 things about China’s struggle to get out of Covid shock to its economy
3 months ago

5 things about China’s struggle to get out of Covid shock to its economy

Firstpost  

China’s struggle to recover from the shock of COVID-19 in 2024 laid bare long-standing vulnerabilities in its economy. China’s economy once hailed as the engine of global growth, faced a tumultuous 2024 affected by a series of economic and geopolitical challenges. Never really recovered from COVID shock China’s economy faced a continuing sluggish recovery in 2024 due to the consequences …

China moves to Trump-proof its economy
3 months, 2 weeks 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 …

‘Let yuan fall’: China’s new mantra to counter Trump tariff as Xi battles to revive economy
3 months, 2 weeks ago

‘Let yuan fall’: China’s new mantra to counter Trump tariff as Xi battles to revive economy

Firstpost  

China is considering allowing its currency yuan to weaken in 2025 as the country braces for higher US trade tariffs as Donald Trump returns to the White House on January 20, 2025 As per analysts, the yuan may fall to 7.37 per dollar by the end of 2025, though a key factor will be how much Donald Trump raises tariffs …

China’s Weaker Yuan Sends Ripples Across Emerging Market Currencies
3 months, 2 weeks ago

China’s Weaker Yuan Sends Ripples Across Emerging Market Currencies

Live Mint  

Emerging-market currencies dropped Wednesday, with an index of developing-nation currencies heading for its steepest one-day loss in a week and a half. The depreciation supports Chinese exporters but raises risks of capital outflows and financial instability, challenges that could ripple through emerging markets tied to Chinese demand, as cheaper Chinese undercut competitors in other developing economies. The correlation between China’s …

Stocks Retreat as China Bump Fades Ahead of US CPI: Markets Wrap
3 months, 2 weeks ago

Stocks Retreat as China Bump Fades Ahead of US CPI: Markets Wrap

Live Mint  

European stocks followed Asian shares lower as enthusiasm about China’s latest stimulus pledge faded, while traders await key inflation data from the US as well as a European Central Bank policy decision later this week. The Stoxx Europe 600 index snapped an eight-day streak of gains, with basic resources and consumer products and services giving up some of Monday’s gains …

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 …

3 factors that pulled China's yuan to 4-month low against dollar despite impressive PMI numbers
Trending News
3 months, 3 weeks ago

3 factors that pulled China's yuan to 4-month low against dollar despite impressive PMI numbers

Firstpost  

China’s yuan fell to a low 7.2675 per dollar, its weakest since July 24 on Monday despite private manufacturing survey showing that the country’s factory activity expanded at the fastest pace in five months in November Aiming to takeover US dollar and becoming world’s principal reserve currency, China’s yuan slipped to a four-month low raising concerns that the second largest …

China's yuan slides to 4-month low on tariff threats and mixed PMI data
3 months, 3 weeks ago

China's yuan slides to 4-month low on tariff threats and mixed PMI data

Hindustan Times  

SHANGHAI, - The yuan fell to a four-month low on Monday, as tariff threats and mixed purchasing managers' index data raised concern China's economy might need additional policy support. The onshore yuan dropped to a low of 7.2675 per dollar, its weakest since July 24, despite a private manufacturing survey on Monday showing China's factory activity expanded at the fastest …

From BRICS to APEC: Chinese charm offensive and Xi Jinping's renewed outreach
4 months ago

From BRICS to APEC: Chinese charm offensive and Xi Jinping's renewed outreach

Firstpost  

China’s economic slowdown and the impending Trump presidency have prompted a shift in its diplomatic approach, marked by a rework in tone, which has been somehow braced by the outgoing Biden administration and traditional US allies, like Japan On November 15, Chinese President Xi Jinping met Japanese Prime Minister Shigeru Ishiba on the sidelines of the Asia-Pacific Economic Cooperation summit …

Asian Stocks Gain on China Recovery, Weaker Dollar: Markets Wrap
4 months, 2 weeks ago

Asian Stocks Gain on China Recovery, Weaker Dollar: Markets Wrap

Live Mint  

Asian equities climbed, aided by signs of a stabilization in China’s economy and a retreat in the dollar. “The strength of the dollar has obviously taken away some of the returns from emerging markets local currency bonds, but we think the more attractive opportunity at this point is in the hard currency aspect of emerging markets,” Niaz said, referring to …

China's yuan weakens to 3-1/2-month low as Trump tariff threat weighs
4 months, 2 weeks ago

China's yuan weakens to 3-1/2-month low as Trump tariff threat weighs

Hindustan Times  

SHANGHAI, - China's yuan skidded to a 3-1/2-month low against the dollar on Tuesday, hurt by broad strength in the U.S. currency and persistent market worries over higher tariffs on Chinese goods during Donald Trump's second presidency. During Trump's first presidency, the yuan weakened about 5% against the dollar in the initial round of U.S. tariffs on Chinese goods in …

China’s 10-year bond yields drop amid $1.4 billion debt refinancing program, more stimulus awaited
4 months, 2 weeks ago

China’s 10-year bond yields drop amid $1.4 billion debt refinancing program, more stimulus awaited

Live Mint  

Yield for China's benchmark 10-year bonds have slid to their lowest in over a month after the government announced its 10 trillion yuan or $1.4 billion worth debt refinancing programme, Bloomberg reported. China's Debt Refinancing Programme — The Details The announcement was made after the National People’s Congress Standing Committee meeting on November 8, to “underwhelmed” reactions, as per the …

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?
4 months, 3 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 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
5 months 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 …

Stimulus Measures to Ignite Chinese Economy
5 months, 2 weeks ago

Stimulus Measures to Ignite Chinese Economy

China Daily  

China's economy is expected to pick up pace in the fourth quarter, supported by a slew of bolder-than-expected stimulus measures. The focus will be on tackling issues faced by enterprises, spurring consumption, and stabilizing the real estate sector to achieve the country's annual growth target of 5 percent.

Stimulus Measures to Rev Up China's Economy
5 months, 2 weeks ago

Stimulus Measures to Rev Up China's Economy

China Daily  

China's economy is expected to pick up pace in the fourth quarter, supported by a combination of monetary and fiscal stimulus measures. The focus will be on tackling issues faced by enterprises, spurring consumption, and stabilizing the real estate sector to achieve the country's growth target of 5 percent.

China stocks decline amid economic recovery disappointment, while other markets in Asia rise
5 months, 2 weeks ago

China stocks decline amid economic recovery disappointment, while other markets in Asia rise

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. “Let’s call it what it …

Xi Jinping pledges ‘forceful’ rate cuts to halt China’s economic crisis
6 months ago

Xi Jinping pledges ‘forceful’ rate cuts to halt China’s economic crisis

The Telegraph  

Xi Jinping has called for the introduction of “forceful” interest rate cuts as the Chinese president battles to kickstart the stuttering economy. In a rare admission from China’s leadership, officials said the world’s second-largest economy was facing fresh turmoil as they vowed to inject greater levels of fiscal stimulus. It follows a series of measures laid out by the People’s …

Chinese economic collapse not happening
7 months ago

Chinese economic collapse not happening

China Daily  

SHI YU/CHINA DAILY True, China's current annual rate of economic growth of about 5 percent is low compared with its growth from 1980 to 2010, when it averaged nearly 10 percent. In spite of what a 5 percent economic growth means in the global context, it has become fashionable in the West to raise the alarm over China's economy. However, …

Chinese economic collapse not happening
7 months ago

Chinese economic collapse not happening

China Daily  

SHI YU/CHINA DAILY True, China's current annual rate of economic growth of about 5 percent is low compared with its growth from 1980 to 2010, when it averaged nearly 10 percent. In spite of what a 5 percent economic growth means in the global context, it has become fashionable in the West to raise the alarm over China's economy. However, …

China cuts 1-year benchmark rate and doubles subsidies for EVs in its ‘cash for clunkers’ program
8 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 misery deepens, US curve steepens
8 months, 1 week ago

China misery deepens, US curve steepens

Live Mint  

By Jamie McGeever July 16 - A look at the day ahead in Asian markets. Asia's economic calendar is remarkably light on Tuesday, allowing markets to take their cue from broader drivers such as China's deepening economic malaise, the shifting outlook for U.S. monetary policy, and the Q2 earnings season on Wall Street. Japan's markets reopen on Tuesday after Monday's …

China's foreign exchange reserves total $3.2224t
8 months, 3 weeks ago

China's foreign exchange reserves total $3.2224t

China Daily  

Xinhua | Updated: 2024-07-08 10:11 BEIJING - China's foreign exchange reserves stood at $3.2224 trillion at the end of June 2024, official data showed Sunday. The amount shrank by 0.3 percent compared with the previous month, the State Administration of Foreign Exchange said, attributing the decrease to the combined impact of currency translation and asset price changes. The Chinese economy …

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 …

China Restates Need for Steady Yuan Amid Fragile Confidence
11 months, 1 week ago

China Restates Need for Steady Yuan Amid Fragile Confidence

Hindustan Times  

China reiterated the need to prevent one-sided moves in the yuan, as a resurgent dollar and poor risk sentiment pressure currencies across Asia. China Restates Need for Steady Yuan Amid Fragile Confidence The nation will “resolutely” put the yuan back on track when traders place lopsided bets and it’ll also try to avoid excessive volatility, the People’s Bank of China …

First-quarter GDP grows 5.3 percent year-on-year
11 months, 1 week ago

First-quarter GDP grows 5.3 percent year-on-year

China Daily  

China's economy grew more strongly than expected in the first quarter while pressures and challenges from insufficient demand persist, bolstering the case for more policy stimulus to consolidate the recovery trend. China's GDP grew 5.3 percent year-on-year in the first quarter of this year, data from the National Bureau of Statistics showed on Tuesday. NBS data showed China's value-added industrial …

China shows signs of slowdown to aggregate social financing
11 months, 2 weeks ago

China shows signs of slowdown to aggregate social financing

China Daily  

A pedestrian walks past the headquarters of the PBOC in Beijing. JIANG QIMING/CHINA NEWS SERVICE China's financing activity showed signs of slowing down as the increment in aggregate social financing — the total amount of financing to the real economy — reached 12.93 trillion yuan in the first quarter of 2024, down by 1.61 trillion yuan compared with the same …

Chinese stocks slide as investors maintain caution after US inflation report
1 year ago

Chinese stocks slide as investors maintain caution after US inflation report

Associated Press  

HONG KONG — China stocks were lower Wednesday after the overnight United States inflation report that signaled a diminished possibility of the Fed’s rate cut made investors cautious. Cathay Pacific Airways stock jumped 5.3% after it announced remarkable a 336% increase in operating profit in 2023, reaching 15.1 billion Hong Kong dollars and surpassing the previous record set in 2010. …

Vantage | Why even the Chinese don't want to invest in China now
1 year 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 says economy got a strong start in 2024, sets sights on latest technology, upgrading factories
1 year 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 …

Vantage | Why investors are pulling money out of China's stock markets
1 year, 2 months ago

Vantage | Why investors are pulling money out of China's stock markets

Firstpost  

As India celebrates the consecration of the Ram Temple in Ayodhya, the festive mood is overshadowed by discontent in its neighbouring countries. Meanwhile, China, India’s iron brother, is grappling with significant economic challenges, leading to a mass exodus of investors and mounting losses in its financial markets. The decline of Hong Kong’s financial prowess signifies a shift in China’s growth …

Chinese shudders: Fewer people is bad news
1 year, 2 months 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 …

After bumpy recovery, China’s economy faces serious headwinds in 2024
1 year, 3 months ago

After bumpy recovery, China’s economy faces serious headwinds in 2024

Al Jazeera  

The world’s second-largest economy is heading into 2024 on a precarious footing amid deep-seated structural issues. China’s reopening after the lifting of its harsh “zero-COVID” restrictions in January coincided with challenging economic conditions overseas, as soaring inflation made consumers less inclined to buy Chinese goods. “The all too often near-anarchic environment of the past two decades has led to such …

China's Xi Jinping says economic recovery 'still at critical stage', lists measures for revival
1 year, 3 months ago

China's Xi Jinping says economic recovery 'still at critical stage', lists measures for revival

Firstpost  

“It is necessary to focus on accelerating the construction of a modern industrial system, expand domestic demand, prevent and defuse risks,” said Xi As sluggish domestic activity and property sector woes drag on a post-pandemic rebound, President Xi Jinping on Friday said that China’s economic recovery is at a “critical stage”. “At present, the country’s economic recovery is still at …

From deflation to high debt burden: Here’s 5 things happening in Chinese economy
1 year, 4 months ago

From deflation to high debt burden: Here’s 5 things happening in Chinese economy

Live Mint  

China is facing the challenges of an economic deceleration and a substantial debt crisis within its real estate industry. “Combating persistent disinflation amid weak demand remains a challenge for Chinese policymakers,” Bruce Pang, chief economist for Greater China at Jones Lang LaSalle Ltd told Bloomberg. Better growth forecasts- Despite a slowdown, the future doesn't look very bleak for the Chinese …

China may have to slow down in the superpower race and tackle domestic problems
1 year, 4 months ago

China may have to slow down in the superpower race and tackle domestic problems

Live Mint  

China’s medium-term economic prospects seem to be dimming rapidly. The political economy objective was to eliminate alternate power structures in China and consolidate military, administrative and economic power within Xi Xinping’s control. Despite this, China’s free-wheeling spending on geo-strategic projects in its superpower race may need to be curbed. To establish itself as the leader in experimental physics, China announced …

What China's first deficit in investment says about the West
1 year, 4 months ago

What China's first deficit in investment says about the West

Firstpost  

According to the most recent data, the onshore volume of yuan trading against the dollar fell 73% from August levels to a record low of 1.85 trillion yuan in October According to balance of payments data, China experienced its first-ever quarterly deficit in foreign direct investment, highlighting Beijing’s difficulty courting foreign businesses following a “de-risking” decision by Western governments. According …

China stock investors say worst yet to come in property crisis
1 year, 5 months ago

China stock investors say worst yet to come in property crisis

Live Mint  

China’s property sector has yet to see the worst of the crisis that has cast a pall over the nation’s economy and helped drive an exodus of global funds from the world’s second-largest stock market. That’s the view from nine of 15 respondents in an informal Bloomberg News survey of analysts and money managers based in Hong Kong and mainland …

China's curt response on economy to Joe Biden: ‘Resilient, not collapsed’
1 year, 6 months ago

China's curt response on economy to Joe Biden: ‘Resilient, not collapsed’

Hindustan Times  

China's economy is resilient and has not collapsed, the Chinese foreign ministry said as it rejected claims made by US president Joe Biden that its economy is faltering and could cause wider problems. US president Joe Biden called China's economic situation a "crisis" while Australian treasurer Jim Chalmers said a slowing Chinese economy could in turn weigh on Australia's. US …

China’s economic slowdown, its ripple effect
1 year, 6 months ago

China’s economic slowdown, its ripple effect

The Hindu  

The news about China’s economic slowdown has caused mixed reactions. Speaking at the National People’s Congress in 2007, then Premier Wen Jiabao had cautioned that “the biggest problem with China’s economy is that the growth is unstable, unbalanced, uncoordinated, and unsustainable”. In a ‘new normal’, the ground realities When Mr. Xi says that China is the world’s second largest economy, …

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