Is China’s high-growth era over – forever?
1 year, 11 months ago

Is China’s high-growth era over – forever?

Al Jazeera  

With its population declining, China’s period of rapid growth is likely over. The growth rate that China does manage to sustain in years ahead will largely depend on how Beijing adapts to the structural challenges facing its economy and the impact of Xi’s new priorities. Pettis said GDP – used initially to measure Western economies – is not built-for-purpose for capturing anomalies caused by China’s “soft budget constraints”, which refers to a model where the state steps in to cover for spending in excess of income earned from a project. Instead, he has emphasised “high-quality growth”, which features as a guiding principle in China’s current five-year plan. “Consumption is the key here.” Household expenditure as a share of total GDP sat at about 38 percent by the end of 2021, far below the global average of 63 percent, leaving China with one of the weakest consumption levels among the world’s major economies.

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History of this topic

Already, China is Shaking The World
3 weeks ago

Already, China is Shaking The World

China Daily  

As Bonaparte said, let China sleep for when she awakes she will shake the World. Janet Yellen was forced to complain China's economy was too big for the World to cope when the West imposed tariffs on China's EVs whining about "over-capacity" rather than actual "dumping". "Donald Trump called former US president Jimmy Carter to discuss fear China is ‘getting …

Services, consumption key to China's growth
3 weeks, 5 days ago

Services, consumption key to China's growth

China Daily  

JIN DING/CHINA DAILY Editor's note: At the China-US People's Dialogue, co-hosted by the National Committee on US-China Relations and Tsinghua University's Center for International Security and Strategy, last week, Zhu Min, former deputy-managing director of the International Monetary Fund and former vice-president of the People's Bank of China, shared his insights on the future of China's economy. By aiming for …

China on track to reach growth targets
1 month, 1 week ago

China on track to reach growth targets

China Daily  

A visitor touches the finger of a mechanical hand at a booth at the 26th China High-Tech Fair in Shenzhen, South China's Guangdong province, Nov 15, 2024. China has "full confidence" that it will meet the growth targets for this year and remain the biggest engine of world economic growth, President Xi Jinping said on Friday, reaffirming Beijing's pledge to …

GDP goal to be met on positive cues
1 month, 1 week ago

GDP goal to be met on positive cues

China Daily  

The skyline of Beijing. Citing a package of incremental policy measures announced in recent months, Robin Xing, chief China economist at Morgan Stanley, noted that "recent policy dynamics signal a strong turning of overall government policy in trying to bolster economic growth, boost confidence and stabilize expectations." Xing said he expects to see additional fiscal stimulus in the coming months, …

Sifting fact from fiction: Nation vital to progress
1 month, 1 week ago

Sifting fact from fiction: Nation vital to progress

China Daily  

View of Chinese-made vehicles to be exported at Yantai Port in Shandong province on Oct 14. For example, in 2023, China was the world's largest investor in clean energy technologies, production and consumption, and was also the biggest supplier of wind turbines and solar panels in the global market. It can be inferred that China has built the capacity and …

Sifting fact from fiction: Nation vital to progress
1 month, 1 week ago

Sifting fact from fiction: Nation vital to progress

China Daily  

View of Chinese-made vehicles to be exported at Yantai Port in Shandong province on Oct 14. For example, in 2023, China was the world's largest investor in clean energy technologies, production and consumption, and was also the biggest supplier of wind turbines and solar panels in the global market. It can be inferred that China has built the capacity and …

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's Growth: A Catalyst for Global Prosperity
1 month, 2 weeks ago

China's Growth: A Catalyst for Global Prosperity

China Daily  

China's growth is vital for global development, and the country will promote mutually beneficial cooperation and development to counter the zero-sum games being played by some Western economies. The expansion and structural optimization of China's economy will have a significant impact on global economic growth, with every 1 percentage point increase in China's growth rate boosting global economic growth by …

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

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

China Daily  

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

Added value of China's patent-intensive industries over 15 trillion yuan
2 months, 1 week ago

Added value of China's patent-intensive industries over 15 trillion yuan

China Daily  

Added value of China's patent-intensive industries over 15 trillion yuan Xinhua Updated: Oct 18, 2024 The added value of China's patent-intensive industries in 2022 reached 15.32 trillion yuan. The added value of China's patent-intensive industries in 2022 reached 15.32 trillion yuan, contributing 12.7 percent to its GDP, according to a report released by the country's top intellectual property regulator. The …

China's GDP up by 4.6% year-on-year in Q3
2 months, 1 week ago

China's GDP up by 4.6% year-on-year in Q3

China Daily  

China's GDP up by 4.6% year-on-year in Q3 By Zhou Lanxu and Ouyang Shijia chinadaily.com.cn Updated: Oct 18, 2024 The inaugural train departs from Hangzhou West Station and Wenzhou North Station. China's gross domestic product grew by 4.6 percent year-on-year in the third quarter following a 4.7 percent rise in the second quarter, the National Bureau of Statistics said on …

China's Economic Turnaround: A Positive Step but Structural Issues Remain
2 months, 1 week ago

China's Economic Turnaround: A Positive Step but Structural Issues Remain

Hindustan Times  

China's economy is showing signs of a turnaround, with the latest round of stimulus measures expected to boost growth. The bank upgrades its forecasts for 2024 and 2025, with an upgraded growth forecast for next year to 4.7%. Despite the positive outlook, Goldman Sachs cautions that structural issues such as demographics and debt remain and pose challenges beyond 2026.

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 Communist Party has ruled for 75 years. Will it make it to 100?
2 months, 3 weeks ago

China's Communist Party has ruled for 75 years. Will it make it to 100?

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 {{ …

Innovation to power China growth
3 months ago

Innovation to power China growth

China Daily  

Innovation capacity, the digital sector and green industries have significant potential to be major engines of China's growth, fueled by the nation's commitment to reform and opening-up, said Japanese scholars. Yangchoon Kwak, a professor at Rikkyo University's College of Economics, emphasized that green industries will be the main driver of China's future economic growth. Kiyoyuki Seguchi, research director at the …

Innovation to power China growth
3 months ago

Innovation to power China growth

China Daily  

By Jiang Xueqing in Tokyo | China Daily | Updated: 2024-09-21 07:08 Innovation capacity, the digital sector and green industries have significant potential to be major engines of China's growth, fueled by the nation's commitment to reform and opening-up, said Japanese scholars. Yangchoon Kwak, a professor at Rikkyo University's College of Economics, emphasized that green industries will be the main …

China’s emissions nearing peak, says U.S. climate envoy
3 months, 2 weeks ago

China’s emissions nearing peak, says U.S. climate envoy

The Hindu  

As climate envoys from the world’s top two greenhouse gas producers meet in Beijing this week, experts say China’s emissions may finally be nearing their peak. “Whether China’s emissions growth continues or turns into a decline is absolutely decisive for our ability to peak global emissions and start reducing them towards net zero,” he told AFP. China is the world’s …

Amid trade war with West, China buys more chipmaking tools than South Korea, Taiwan & US: Report
3 months, 3 weeks ago

Amid trade war with West, China buys more chipmaking tools than South Korea, Taiwan & US: Report

Firstpost  

China has spent a record $25 billion in buying chipmaking equipment so far this year and is expected to spend $50 billion by the end of the year Amid an escalating trade war with the West, China has emerged as the top buyer of chipmaking tools this year, according to a report. Amid such a conflict, the Semiconductor Equipment and …

China's new growth drivers further gain momentum: index
3 months, 3 weeks ago

China's new growth drivers further gain momentum: index

China Daily  

A humanoid smart robot works at an auto production facility in Ningbo, Zhejiang province. BEIJING -- China's new growth drivers have gained momentum last year as the country continued efforts to foster economic vitality and encourage technological innovation, official data showed Saturday. The reading suggested that the country's new growth drivers, featured by new industries, new business forms and models, …

China to continue with low-carbon reforms, energy regulator says
3 months, 3 weeks ago

China to continue with low-carbon reforms, energy regulator says

Hindustan Times  

in paragraph 8) China to continue with low-carbon reforms, energy regulator says BEIJING, - China will keep phasing out fossil fuels and reforming its electricity system, the energy regulator said on Thursday, issuing a white paper long on listing accomplishments but short on new plans for China's energy transition. National Energy Administration head Zhang Jianhua said China would continue to …

China makes historic breakthroughs in green energy development: white paper
3 months, 3 weeks ago

China makes historic breakthroughs in green energy development: white paper

China Daily  

Xinhua | Updated: 2024-08-29 11:04 Technicians check solar panels in Zhoushan, Zhejiang province. BEIJING - China has made historic breakthroughs in green and low-carbon energy development over the past decade amid its quest for a sustainable future, according to a white paper issued Thursday. Clean energy accounted for 26.4 percent of the country's total energy use in 2023, up from …

China makes historic breakthroughs in green energy development: white paper
3 months, 3 weeks ago

China makes historic breakthroughs in green energy development: white paper

China Daily  

Technicians check solar panels in Zhoushan, Zhejiang province. BEIJING - China has made historic breakthroughs in green and low-carbon energy development over the past decade amid its quest for a sustainable future, according to a white paper issued Thursday. Clean energy accounted for 26.4 percent of the country's total energy use in 2023, up from 15.5 percent in 2013, while …

China on track to reach economic growth goal
4 months ago

China on track to reach economic growth goal

China Daily  

Xu Hongcai, deputy director of the China Association of Policy Science's Economic Policy Committee delivers a speech at a news conference held in Beijing, on Tuesday. China is well poised to achieve its economic growth goal of about 5 percent this year, as the country continues to boost domestic demand, a senior expert said on Tuesday. Xu also said insufficient …

Experts see economy stabilizing
4 months ago

Experts see economy stabilizing

China Daily  

A worker conducts motion tests on AGV handling robots at the integrated AMT workshop of FAW Jiefang Automotive Co, a subsidiary of China FAW Group, in Changchun, Jilin province, on Aug 5, 2024. Consumption will remain a key growth driver in the remaining months this year, while the country's accelerated push for fostering new quality productive forces will inject fresh …

Experts see economy stabilizing
4 months ago

Experts see economy stabilizing

China Daily  

China's economy is likely to gradually stabilize in the third and fourth quarters, as policymakers are poised to step up stimulus measures aimed at stabilizing growth and deepening economic structural reforms, prominent economists said on Monday. Consumption will remain a key growth driver in the remaining months this year, while the country's accelerated push for fostering new quality productive forces …

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 …

China reports growth in the consumer economy
4 months, 1 week ago

China reports growth in the consumer economy

China Daily  

chinadaily.com.cn| Updated :2024-08-15 China reported major economic data on Thursday that pointed to faster growth on the consumer side while both industrial production and investment grew at a slower pace in July. Figures released on Thursday by the National Bureau of Statistics showed China's retail sales, a key measurement of consumer spending, grew by 2.7 percent year-on-year in July, up …

Lead in digital sector — how cool is that for China!
4 months, 2 weeks ago

Lead in digital sector — how cool is that for China!

China Daily  

The milk is packaged automatically. As the economy is transitioning from a phase of rapid growth to a new phase of high-quality development, the country is shifting its focus to emerging industries, creating new business models and fostering new growth drivers in a bid to promote the development of productive forces featuring high technology, high performance and high quality. China …

Lead in digital sector — how cool is that for China!
4 months, 2 weeks ago

Lead in digital sector — how cool is that for China!

China Daily  

By Ouyang Shijia | China Daily | Updated: 2024-08-05 09:15 The milk is packaged automatically. As the economy is transitioning from a phase of rapid growth to a new phase of high-quality development, the country is shifting its focus to emerging industries, creating new business models and fostering new growth drivers in a bid to promote the development of productive …

Beijing's digital economy growth outpaces GDP in H1
4 months, 2 weeks ago

Beijing's digital economy growth outpaces GDP in H1

China Daily  

Xinhua | Updated: 2024-08-05 09:42 A staff member demonstrates his interaction with a virtual human during the Global Digital Economy Conference 2024 in Beijing, capital of China, July 2, 2024. BEIJING -- Beijing municipality's digital economy continued to grow rapidly in the first half of this year, achieving an added value growth of 7.8 percent year-on-year. The sector contributed over …

China owns 378,000 AI patents, rising faster than global average
4 months, 3 weeks ago

China owns 378,000 AI patents, rising faster than global average

China Daily  

BEIJING -- The number of effective artificial intelligence invention patents in China reached 378,000 by the end of 2023, representing a year-on-year growth rate of over 40 percent, the country's top intellectual property regulator released the data on Monday. In 2023, the number of invention patents approved in China's core digital economy industries reached 406,000, accounting for 45 percent of …

New economic model set to boost strength
5 months ago

New economic model set to boost strength

China Daily  

China will likely pursue a new economic model to drive a smooth transition in growth engines, potentially providing an alternative solution to the global challenge of low productivity growth, according to leading economists and executives. "I think this is really very unique, what I will call the China model or China economic model," said Zhu Min, former deputy managing director …

Financial institutions upbeat on China economy
5 months ago

Financial institutions upbeat on China economy

China Daily  

A view of the booth of DBS during an expo in Shanghai last year. CHINA DAILY Overseas financial institutions have expressed their confidence in the prospects of China's economy, as the country's high-quality growth efforts are gradually paying off. Apart from industrial output and high-end manufacturing, investment and exports are The effects of large-scale equipment upgrades and trade-in of consumer …

On track to attain 2024 growth goal
5 months ago

On track to attain 2024 growth goal

China Daily  

Two participants at the 2024 Summer Davos Forum exchange views in Dalian, Liaoning province. YAO JIANFENG/XINHUA China is on track to reach the 2024 GDP growth target of around 5 percent given the strong policy stimulus, continued recovery trend and gradual recovery in domestic demand, experts and entrepreneurs said. Despite facing challenges from a sluggish real estate market, still-weak demand …

Reform, opening-up to reach new heights
5 months ago

Reform, opening-up to reach new heights

China Daily  

JIN DING/CHINA DAILY We live in a world of interdependence where the destinies of nations are intertwined. In this context, it is not surprising that the just-concluded third plenary session of the 20th Central Committee of the Communist Party of China in Beijing was closely watched. Despite the evolution of the world, including changes in certain Western countries' policies toward …

Reform, opening-up to reach new heights
5 months ago

Reform, opening-up to reach new heights

China Daily  

JIN DING/CHINA DAILY We live in a world of interdependence where the destinies of nations are intertwined. In this context, it is not surprising that the just-concluded third plenary session of the 20th Central Committee of the Communist Party of China in Beijing was closely watched. Despite the evolution of the world, including changes in certain Western countries' policies toward …

Greater reform set to lift growth till 2029
5 months ago

Greater reform set to lift growth till 2029

China Daily  

A view of a privately owned textile company in Nantong, Jiangsu province. Greater reform to advance urbanization and reinforce the role of the market in the economy will play a pivotal role in lifting China's economic growth in the coming five years, which should be able to reach about 5 percent annually, economists and officials said on Friday. The period …

Xi Jinping sets the course for China's economy for the next decade as he prepares for a fourth term
5 months ago

Xi Jinping sets the course for China's economy for the next decade as he prepares for a fourth term

ABC  

The conclusion of the Chinese Communist Party's 20th Third Plenum marks a significant moment in Chinese politics, as Xi Jinping appears to be laying the groundwork for an unprecedented fourth term. The Third Plenum's communiqué sets a reform deadline of 2029 and emphasises the decisive significance of the "Two Establishes", which solidify Xi's core position in the Party and the …

China's economic vibrancy strengthens the global economy
5 months ago

China's economic vibrancy strengthens the global economy

China Daily  

Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. These updates have provided a solid foundation for achieving China's anticipated economic targets within the current year, sending a strong signal for the international community that the stable and the long-term development trajectory of China's economy will not be changed. With the start of this year, …

China's economic performance resilient amid challenges
5 months, 1 week 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, 1 week 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 …

Chinese economy resilient to fluctuations
5 months, 1 week ago

Chinese economy resilient to fluctuations

China Daily  

SHI YU/CHINA DAILY China's GDP grew by 5.0 percent in the first half of this year, with the second quarter growth of 4.7 percent being slightly lower than the first quarter. The GDP growth figures show not only the resilience and dynamism of the Chinese economy amid global economic uncertainties and domestic structural adjustments but also the effectiveness of government …

Chinese economy resilient to fluctuations
5 months, 1 week ago

Chinese economy resilient to fluctuations

China Daily  

SHI YU/CHINA DAILY China's GDP grew by 5.0 percent in the first half of this year, with the second quarter growth of 4.7 percent being slightly lower than the first quarter. The GDP growth figures show not only the resilience and dynamism of the Chinese economy amid global economic uncertainties and domestic structural adjustments but also the effectiveness of government …

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 …

Consumer confidence important to ensuring positive economic growth
5 months, 1 week ago

Consumer confidence important to ensuring positive economic growth

China Daily  

Employees work at an electrical machinery manufacturer in Haian, Jiangsu province. ZHAI HUIYONG/XINHUA China's gross domestic product grew 5.0 percent year-on-year in the first half of this year, National Bureau of Statistics data show, while GDP grew 5.3 percent in the first quarter and 4.7 percent in the second quarter, showing signs of decelerating growth. The momentum of global economic …

Innovative workforce crucial for future reform
5 months, 1 week ago

Innovative workforce crucial for future reform

China Daily  

MA XUEJING/CHINA DAILY China's economic growth over the past more than four decades has been truly incredible. Since China launched reform and opening-up in 1978, its GDP growth has averaged above 9 percent a year, and it has lifted more than 800 million people out of poverty. China's working-age population has been declining by an estimated 7.9 million a year …

Innovative workforce crucial for future reform
5 months, 1 week ago

Innovative workforce crucial for future reform

China Daily  

MA XUEJING/CHINA DAILY China's economic growth over the past more than four decades has been truly incredible. Since China launched reform and opening-up in 1978, its GDP growth has averaged above 9 percent a year, and it has lifted more than 800 million people out of poverty. China's working-age population has been declining by an estimated 7.9 million a year …

Country to help digital economy to thrive
5 months, 2 weeks ago

Country to help digital economy to thrive

China Daily  

A visitor tries out a 3D camera during the Global Digital Economy Conference 2024 in Beijing, July 2, 2024. China will employ a raft of well-focused policy steps to foster a more enabling climate for the development of the digital economy, the State Council, the country's Cabinet, said on Friday. China's total data output reached 32.85 zettabytes in 2023, up …

China's new development means opportunities for world
6 months ago

China's new development means opportunities for world

China Daily  

Tourists visit a cultural block in Xiangyang, central China's Hubei province, June 10, 2024. Recently, the World Bank raised its forecast for China's 2024 economic growth to 4.8 percent, 0.3 percentage points higher from the previous forecast. The International Monetary Fund also revised up China's economic outlook to 5 percent, 0.4 percentage points higher than the previous forecast. In the …

High-quality growth boosts investors' confidence
6 months ago

High-quality growth boosts investors' confidence

China Daily  

JIN DING/CHINA DAILY China's major targets for this year include a GDP of about 5 percent, the creation of 12 million jobs and keeping the increase in inflation below 3 percent. Since 2015, China has been the world's largest economy by GDP, with substantial improvements in people's purchasing power and standard of living. China's manufacturing capacity and digital economy can …

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