China’s borrowers have an $890 billion problem
5 years, 10 months ago

China’s borrowers have an $890 billion problem

Live Mint  

Chinese industrial borrowers are strapped for cash, as billions of dollars of debt come due this year. Excluding state-owned energy behemoths China Petroleum & Chemical Corp., or Sinopec, and PetroChina Co., materials and industrial firms took in at least 60 billion yuan of such government assistance between 2013 and 2017, amounting to almost 45% of Beijing’s total outlays, according to analysts at CLSA Ltd. On average, this aid accounted for at least 4-10% of gross profits between 2013 and 2017. By the following year, subsidies contributed to just 2% of industrial companies’ gross profits. Interest costs at Berkshire Hathaway Inc.-backed BYD rose to 1.14 billion yuan in the third quarter last year, from around 630 million yuan a year before. Other private industrial companies like robotics firm Estun Automation Co. are facing volatile operating profits because handouts weren’t as large as expected.

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History of this topic

China's industrial firms see higher revenue in Jan-Nov
2 weeks, 1 day ago

China's industrial firms see higher revenue in Jan-Nov

China Daily  

BEIJING - The performance of major Chinese industrial enterprises continued to recover in November as a series of government policies came into play. From January to November, the operating revenue of major industrial enterprises reached 123.48 trillion yuan, up 1.8 percent year-on-year, according to the National Bureau of Statistics on Friday. In November alone, the operating revenue of China's major …

China's FDI inflow rises 6% in November
3 weeks, 5 days ago

China's FDI inflow rises 6% in November

China Daily  

Containers are unloaded at Qingdao Port in Shandong province. BEIJING -- Foreign direct investment in the Chinese mainland in actual use climbed 6 percent in November from the same period last year, the Ministry of Commerce said Saturday. From January to November, the actual use of FDI stood at 749.7 billion yuan, down 27.9 percent year-on-year. The proportion of actual …

China's foreign trade up 4.9% in first 11 months
1 month ago

China's foreign trade up 4.9% in first 11 months

China Daily  

China's foreign trade expanded by 4.9 percent year-on-year to 39.79 trillion yuan in the January-November period of 2024, statistics from the General Administration of Customs showed on Tuesday. The country's exports rose 6.7 percent yearly to 23.04 trillion yuan, while its imports climbed 2.4 percent year-on-year to 16.75 trillion yuan during this period, customs data showed. The import and export …

China's foreign trade up 4.9% in first 11 months
1 month ago

China's foreign trade up 4.9% in first 11 months

China Daily  

By Zhong Nan | chinadaily.com.cn | Updated: 2024-12-10 11:12 China's foreign trade expanded by 4.9 percent year-on-year to 39.79 trillion yuan in the January-November period of 2024, statistics from the General Administration of Customs showed on Tuesday. The country's exports rose 6.7 percent yearly to 23.04 trillion yuan, while its imports climbed 2.4 percent year-on-year to 16.75 trillion yuan during …

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

China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth
2 months 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 foreign trade up 5.2% in Jan-Oct period
2 months ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year to 15.22 trillion yuan during this period, customs data showed. The import and export value of China's private …

China's foreign trade up 5.2% in Jan-Oct period
Top News
2 months ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year to 15.22 trillion yuan during this period, customs data showed. The import and export value of China's private …

China's foreign trade up 5.2% in Jan-Oct period
Top News
2 months ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year to 15.22 trillion yuan during this period, customs data showed. The import and export value of China's private …

China's foreign trade up 5.2% in Jan-Oct period
Top News
2 months ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year to 15.22 trillion yuan during this period, customs data showed. The import and export value of China's private …

China's foreign trade up 5.2% in Jan-Oct period
2 months ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade up 5.2% in Jan-Oct period By Zhong Nan in Shanghai chinadaily.com.cn Updated: Nov 07, 2024 China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year …

Trade, opening-up surging over years
3 months, 1 week ago

Trade, opening-up surging over years

China Daily  

In the early stages, foreign companies sent their managers, sales experts and engineers, along with product samples, to cities like Shanghai, Beijing and Guangzhou, Guangdong province to establish representative offices and test the viability of the Chinese market — particularly during the 1980s. With products manufactured in China being supplied to both domestic and international markets, foreign enterprises like France's …

Trade, opening-up surging over years
3 months, 1 week ago

Trade, opening-up surging over years

China Daily  

In the early stages, foreign companies sent their managers, sales experts and engineers, along with product samples, to cities like Shanghai, Beijing and Guangzhou, Guangdong province to establish representative offices and test the viability of the Chinese market — particularly during the 1980s. With products manufactured in China being supplied to both domestic and international markets, foreign enterprises like France's …

China's banking sector assets growing steadily: regulator
4 months, 2 weeks ago

China's banking sector assets growing steadily: regulator

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. BEIJING - China's banks have seen steady asset expansion since the start of the year, an official with the country's financial regulator said on Wednesday. The assets of financial institutions in China's banking sector grew 7 percent year-on-year to 423.8 trillion yuan at the end …

Foreign investors pull record money from China. Here's why
4 months, 4 weeks ago

Foreign investors pull record money from China. Here's why

Hindustan Times  

Foreign investors pulled a record amount of money from China last quarter, likely reflecting deep pessimism about the world’s second-largest economy. China’s direct investment liabilities in its balance of payments dropped almost $15 billion in the April-June period, marking only the second time this figure has turned negative, according to data from the State Administration of Foreign Exchange released Friday. …

Nation's opening to further intensify
5 months, 3 weeks ago

Nation's opening to further intensify

China Daily  

A foreign tourist takes pictures of a child wearing traditional Chinese apparel in Changsha, Hunan province, on May 14. "We will turn China's vast market into a major opportunity for the world," he said, adding that Beijing will continue to make life more convenient for foreign travelers in terms of accommodation, medical services and payments. Mu Hong, deputy director of …

Nation vows to further deepen opening-up
6 months, 2 weeks ago

Nation vows to further deepen opening-up

China Daily  

An aerial view of Canton Tower in Guangzhou, capital of Guangdong province. YANG HE/FOR CHINA DAILY China will intensify efforts to further attract foreign investment, in order to drive the growth of the world's second-largest economy in the new development paradigm, according to an executive meeting of the State Council, the country's Cabinet, on Wednesday. The meeting, which was chaired …

Nation vows to further deepen opening-up
6 months, 2 weeks ago

Nation vows to further deepen opening-up

China Daily  

An aerial view of Canton Tower in Guangzhou, capital of Guangdong province. China will intensify efforts to further attract foreign investment, in order to drive the growth of the world's second-largest economy in the new development paradigm, according to an executive meeting of the State Council, the country's Cabinet, on Wednesday. The meeting, which was chaired by Premier Li Qiang, …

Blinkered view
8 months, 2 weeks ago

Blinkered view

China Daily  

JIN DING/CHINA DAILY Ratings agency Fitch downgraded its outlook for China in its most recent report. Although Fitch acknowledges the structure of the economy is changing as China shifts to a new growth model, it appears not to recognize the full significance and driver of this transition in its report. When the central government did not come to the rescue, …

Blinkered view
8 months, 2 weeks ago

Blinkered view

China Daily  

JIN DING/CHINA DAILY Ratings agency Fitch downgraded its outlook for China in its most recent report. Although Fitch acknowledges the structure of the economy is changing as China shifts to a new growth model, it appears not to recognize the full significance and driver of this transition in its report. When the central government did not come to the rescue, …

Govt policies to aid banking sector, BOC says
9 months, 1 week ago

Govt policies to aid banking sector, BOC says

China Daily  

A view of the booth of Bank of China during an expo in Fuzhou, Fujian province. CHEN BIN/FOR CHINA DAILY The central government's supportive policies are expected to gradually improve business sentiment, boosting domestic demand and laying a solid foundation for the steady development of the banking industry, Bank of China said. The bank's operating income reached 624.14 billion yuan …

Officials: China set to pull in more FDI
9 months, 2 weeks ago

Officials: China set to pull in more FDI

China Daily  

Tim Cook, CEO of Apple, shows up as Apple opens its eighth store in Shanghai on Thursday. GAO ERQIANG/CHINA DAILY China's vast market size and complete supply chain, combined with a series of policies focused on stabilizing the economy and enhancing openness, will further brighten conditions for attracting foreign investment, said government officials and heads of multinational corporations on Friday. …

Country's development potential continues to be released
9 months, 4 weeks ago

Country's development potential continues to be released

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. In the first two months of this year, the total value of China's exports was $528.01 billion, up 7.1 percent year-on-year, and the total value of its imports was $402.85 billion, an increase of 3.5 percent compared with the same period last year. China's exports to the …

Chinese stocks slide as investors maintain caution after US inflation report
9 months, 4 weeks 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. …

China's new development, world's new opportunities
9 months, 4 weeks ago

China's new development, world's new opportunities

China Daily  

A clerk counts yuan bank notes and US dollar bills at a branch of the Industrial and Commercial Bank of China in Huaibei, East China's Anhui province. Foreign investment in China at a high level With a population of over 1.4 billion and a middle-income group of over 400 million, China is a large market with the most potential in …

China's new development, world's new opportunities
9 months, 4 weeks ago

China's new development, world's new opportunities

China Daily  

A clerk counts yuan bank notes and US dollar bills at a branch of the Industrial and Commercial Bank of China in Huaibei, East China's Anhui province. Foreign investment in China at a high level With a population of over 1.4 billion and a middle-income group of over 400 million, China is a large market with the most potential in …

Foreign firms still keen to ramp up investment
11 months ago

Foreign firms still keen to ramp up investment

China Daily  

Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Jan 30. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly valuing China's modern industrial infrastructure, innovative …

Foreign firms still keen to ramp up investment
11 months, 1 week ago

Foreign firms still keen to ramp up investment

China Daily  

Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Tuesday. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly valuing China's modern industrial infrastructure, innovative ecosystem …

Foreign firms still keen to ramp up investment
11 months, 1 week ago

Foreign firms still keen to ramp up investment

China Daily  

Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Tuesday. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly valuing China's modern industrial infrastructure, innovative ecosystem …

Foreign firms still keen to ramp up investment
11 months, 1 week ago

Foreign firms still keen to ramp up investment

China Daily  

A view of Shanghai's Pudong New Area. Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Tuesday. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly …

Multiple sectors see rise in foreign investment
1 year ago

Multiple sectors see rise in foreign investment

China Daily  

Containers are unloaded at Qingdao Port in Shandong province in March. China saw the number of newly established foreign-invested enterprises reach 48,078 during the first 11 months of 2023, soaring 36.2 percent year-on-year, data from the Ministry of Commerce showed. In the meantime, foreign direct investment into the Chinese mainland in terms of actual use dropped 10 percent year-on-year to …

China's financial institutions see rising assets
1 year ago

China's financial institutions see rising assets

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. BEIJING - Assets of financial institutions in China rose to 452.82 trillion yuan at the end of the third quarter, up 9.5 percent year-on-year, according to the central bank. Assets of the banking sector totaled 409.77 trillion yuan at the end of September, up 9.6 percent from …

What China's first deficit in investment says about the West
1 year, 2 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 Evergrande reports its debt rose to $340 billion in 2022. It plans meetings with creditors
1 year, 5 months ago

China Evergrande reports its debt rose to $340 billion in 2022. It plans meetings with creditors

Associated Press  

BEIJING — China Evergrande, the property developer whose woes helped bring about a slump in the country’s vitally important real estate market, has reported its debts rose further to about $340 billion by the end of last year. Regulators stepped in to supervise Evergrande’s debt restructuring, but apparently rejected a bailout to avoid sending the wrong message to companies about …

China's industrial profits slump in Jan.-Feb. as COVID pain lingers
1 year, 9 months ago

China's industrial profits slump in Jan.-Feb. as COVID pain lingers

The Hindu  

Profits at industrial firms in China declined 22.9% in the first two months of 2023 from the year before, official data showed on Monday, as the factory sector struggles to claw its way out of the slump caused by COVID-related disruptions. The contraction followed a 4% fall in industrial profits for the whole of 2022, data from the National Bureau …

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 Siemens staff member introduces the company's surgical robot to doctors in Qionghai, Hainan province, in 2021. Hou Yang, chairman and CEO of Microsoft Greater China, said multinationals are joining policymakers in hoping that measures announced at the two sessions will effectively reboot China's economic development dynamics, both internal and external. "At the highest level, Microsoft believes that the digital …

China’s July industrial profits down as COVID-19 curbs, heatwaves hit
2 years, 4 months ago

China’s July industrial profits down as COVID-19 curbs, heatwaves hit

The Hindu  

Profits at China's industrial firms sank in July, reversing previous gains as fresh COVID-19 curbs dragged down demand and squeezed factory margins, while power shortages due to heatwaves threatened production. Profits at China's industrial firms fell 1.1% in January-July from a year earlier, wiping out the 1.0% growth logged during the first six months, the National Bureau of Statistics said …

Grim forecasts of the Chinese economy overstate the unease
2 years, 4 months ago

Grim forecasts of the Chinese economy overstate the unease

Live Mint  

Industrial China is alive and well despite concerns of an economic slowdown. In addition, despite what the sentiment surveys tell you, foreign direct investment into China’s high-tech manufacturing increased 31.1% in the first six months of the year. Chipmaker Semiconductor Manufacturing International said it wasn’t planning on cutting its $5 billion spending plans, its highest outlay compared to the amount …

China's FDI inflow up 17.4% in H1
2 years, 5 months ago

China's FDI inflow up 17.4% in H1

China Daily  

Xinhua| Updated :2022-08-02 Foreign direct investment into the Chinese mainland, in actual use, expanded 17.4 percent year-on-year to 723.31 billion yuan in the first half of the year, the Ministry of Commerce said Friday. Specifically, foreign investment in high-tech manufacturing rose 31.1 percent, while that in the high-tech service sector jumped 34.4 percent. The service industry received 537.13 billion yuan …

China pledges support for ailing economy, analysts doubt impact
2 years, 7 months ago

China pledges support for ailing economy, analysts doubt impact

Al Jazeera  

Beijing says it will roll out additional tax cuts and postpone social security payments for firms to support growth. China has pledged tax cuts and infrastructure spending to support economic growth, as economists poured doubt on a strong rebound for the world’s second-largest economy as long as lockdowns persist. Beijing will increase annual tax cuts by more than 140 billion …

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 …

Action taken to ensure foreign trade growth
2 years, 10 months ago

Action taken to ensure foreign trade growth

China Daily  

Workers help moor a freighter in Qingdao, Shandong province. The company, also a leading sensor-based internet of things solution supplier, aims to boost its overseas revenue and profits by more than 50 percent year-on-year by venturing deeper into developed markets such as the European Union and emerging ones, including Southeast Asian countries. Its overseas sales jumped by more than 30 …

China EximBank's bad loan ratio at 4-yr low in 2021
2 years, 11 months ago

China EximBank's bad loan ratio at 4-yr low in 2021

China Daily  

Pedestrians walk past an BEIJING -- The Export-Import Bank of China, a state-owned policy bank, achieved stable lending expansion last year while keeping its bad loan ratio at a low level. The bank's non-performing loan ratio stood at 1.58 percent at the end of 2021, the lowest notch in four years, according to a work conference of the China EximBank. …

Profit falls 81% as China cracks down on big tech: Alibaba
3 years, 1 month ago

Profit falls 81% as China cracks down on big tech: Alibaba

Hindustan Times  

Chinese e-commerce leader Alibaba Group said on Thursday that its profit for the most recent quarter tumbled 81 percent as it grappled with a government crackdown on the country's big tech champions. The Hangzhou-based company's revenues -- generated mainly by its core e-commerce operations -- reached 200.7 billion yuan, up 29 percent. Last year the government scuppered what would have …

Zhejiang enterprises buck downward trend
3 years, 4 months ago

Zhejiang enterprises buck downward trend

China Daily  

ezhejiang.gov.cn| Updated :2021-08-19 An aerial view of the Taihu Lake scenic area in Huzhou, Zhejiang province. CHINA DAILY In 2020, enterprises in East China's Zhejiang province saw their total assets and operating revenues grow 10.6 percent and 9.8 percent year-on-year respectively despite the COVID-19 pandemic, according to the latest statistics released by the Zhejiang Administration for Market Regulation. As much …

China hikes defence budget to USD 209 billion, 6.8 per cent increase
3 years, 10 months ago

China hikes defence budget to USD 209 billion, 6.8 per cent increase

India TV News  

China on Friday hiked its defence budget to USD 209 billion, maintaining a single-digit growth for the sixth consecutive year with a 6.8 per cent increase in 2021. China’s annual defence budget maintains a single-digit growth for a sixth consecutive year, state-run Xinhua news agency reported. China's defence budget is about one quarter of the US figure, which is USD …

China records over 6% rise in foreign trade entities
3 years, 11 months ago

China records over 6% rise in foreign trade entities

China Daily  

Aerial photo taken on Dec 7, 2020 shows containers stacked at the container terminal of the Lianyungang Port in Lianyungang city, East China's Jiangsu province. China had 531,000 enterprises engaged in exports and imports in 2020, an increase of 6.2 percent year-on-year, according to the latest foreign trade data released by the General Administration of Customs. China's private sector registered …

China records over 6% rise in foreign trade entities
3 years, 11 months ago

China records over 6% rise in foreign trade entities

China Daily  

Aerial photo taken on Dec 7, 2020 shows containers stacked at the container terminal of the Lianyungang Port in Lianyungang city, East China's Jiangsu province. China had 531,000 enterprises engaged in exports and imports in 2020, an increase of 6.2 percent year-on-year, according to the latest foreign trade data released by the General Administration of Customs. China's private sector registered …

Economy in Rebound, China Borrows at Negative Interest Rates for the First Time
4 years, 1 month ago

Economy in Rebound, China Borrows at Negative Interest Rates for the First Time

News 18  

China is cashing in on fears that the West’s faltering economic recovery will keep interest rates near record lows for a long time. “It shows investors are still underexposed to China and there definitely is a scarcity value perceived in these bonds,” said Deutsche Bank’s head of China onshore debt capital markets, Sam Fischer. European investors seized the opportunity to …

China to prune negative list
4 years, 7 months ago

China to prune negative list

China Daily  

Commerce Minister Zhong Shan answers reporters' queries online on Monday in Beijing on the sidelines of the annual national legislative session. Minister assures measures to boost FDI, better protect rights, interests of foreign companies China will further relax market access, shorten the negative list and build high level opening-up platforms, especially in its pilot free trade zones, to put foreign …

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