China says it has ‘ample’ policy tools to spur growth
2 weeks, 5 days ago

China says it has ‘ample’ policy tools to spur growth

Live Mint  

China’s finance minister said Thursday that the government has ample policy tools and flexibility to address both internal and external uncertainties, amid escalating trade tensions with the U.S. China’s central bank governor, Pan Gongsheng, said in the same press conference that the bank would cut interest rates and banks’ reserve requirement ratio at an appropriate time this year. To support the tech sector, Pan said the central bank would expand its technology relending quota to between 800 billion yuan to 1 trillion yuan, up from the current 500 billion yuan. Meanwhile, Finance Minister Lan Fo’an stated that local government debt risks have been “effectively" mitigated following Beijing’s debt swap program last year, which allowed localities to issue bonds to refinance high-interest-rate debt.

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China set to stimulate growth amid global uncertainty
2 weeks, 1 day ago

China set to stimulate growth amid global uncertainty

China Daily  

Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. Experts provide insights on the country's economic trends amid global uncertainties, and delve into China's evolving role as a primary driver of global growth. Below are some excerpts: Stimulating domestic demand key to stabilizing markets The Government Work Report submitted to the National People's Congress, China's …

Key takeaways: How China aims to fix an ailing economy and transform into a high-tech power
2 weeks, 2 days ago

Key takeaways: How China aims to fix an ailing economy and transform into a high-tech power

CNN  

Beijing CNN — China’s leaders have spent the past week unveiling their plan to steer the world’s second-largest economy through looming challenges by transforming the country into a technological powerhouse and ramping up spending to hit an ambitious growth target. Premier Li Qiang said at the opening of the National People’s Congress Wednesday that the country’s growth target of around …

Country should explore strengths to consolidate base for recovery
2 weeks, 6 days ago

Country should explore strengths to consolidate base for recovery

China Daily  

Employees work on a production line of NEV maker BYD in Xi'an, Shaanxi province. This year, the economy is poised to benefit from the synergistic effects of innovation-driven growth, domestic demand expansion, private enterprise empowerment and the revaluation of Chinese assets by international capital. DeepSeek, a Chinese private artificial intelligence startup, exemplifies the breakthrough advancements in China's AI sector, even …

Sustaining economic growth and other takeaways from the start of China’s legislative session
2 weeks, 6 days ago

Sustaining economic growth and other takeaways from the start of China’s legislative session

Associated Press  

BEIJING — China on Wednesday kicked off its annual parliamentary session, the National People’s Congress, which outlines the government’s priorities for the year. Share Share Copy Link copied Email Facebook X Reddit LinkedIn Pinterest Flipboard Print The main priority outlined in Li’s report was addressing “inadequate domestic demand, particularly insufficient consumption,” as well as making “domestic demand the main engine …

Consumers to play bigger role in spurring growth
2 months ago

Consumers to play bigger role in spurring growth

China Daily  

A consumer checks out Lenovo laptops in Shanghai in May. CHINA DAILY China's consumption, powered by a more proactive fiscal policy and a moderately loose monetary policy, will bring out greater vitality and play a bigger role in spurring overall economic growth this year, said officials and executives. In particular, the country's trade-in initiatives, which have contributed to a more …

China targets 'proactive' fiscal policy
2 months, 2 weeks ago

China targets 'proactive' fiscal policy

China Daily  

China, with more forceful countercyclical adjustments in mind, will steer toward "very proactive" fiscal policy this year — including increasing the deficit-to-GDP ratio and issuing larger-scale government bonds, and will "front-load" its fiscal firepower to better underpin a positive economic growth trajectory, Vice-Minister of Finance Liao Min said on Friday. In particular, China's current real interest rate on government debt …

China targets 'proactive' fiscal policy
2 months, 2 weeks ago

China targets 'proactive' fiscal policy

China Daily  

China, with more forceful countercyclical adjustments in mind, will steer toward "very proactive" fiscal policy this year — including increasing the deficit-to-GDP ratio and issuing larger-scale government bonds, and will "front-load" its fiscal firepower to better underpin a positive economic growth trajectory, Vice-Minister of Finance Liao Min said on Friday. In particular, China's current real interest rate on government debt …

China expands consumer subsidies to boost spending as tariff risk looms
2 months, 2 weeks ago

China expands consumer subsidies to boost spending as tariff risk looms

Live Mint  

China is widening the scope of its consumer goods trade-in program this year, as Beijing intensifies efforts to convince cautious households to spend as rising external uncertainties threaten exports’ ability to prop up economic growth. The National Development and Reform Commission, China’s top economic planner, said Wednesday that the government will include more products in its home appliance trade-in program …

China’s Finance Ministry Vows Greater, Faster Spending in 2025
3 months ago

China’s Finance Ministry Vows Greater, Faster Spending in 2025

Live Mint  

China’s finance ministry reaffirmed it will increase public spending with a greater focus on boosting consumption to support the economy next year, ahead of growth headwinds from looming US tariffs. China will “expand the magnitude of fiscal spending and accelerate the spending pace,” according to a statement published Tuesday following a two-day national conference held by the Ministry of Finance …

GDP goal for '25 may stay at 5%
3 months, 1 week ago

GDP goal for '25 may stay at 5%

China Daily  

Luo Zhiheng China's GDP growth target for 2025 could be set at around 5 percent, unchanged from this year, after a top-level meeting outlined more proactive and effective macroeconomic policies for the coming year, to tackle various challenges head-on and push the economy on an upward trajectory, said a senior economist. Luo's comments came after policymakers set next year's agenda …

China moves to Trump-proof its economy
3 months, 1 week 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 …

China pledges more borrowing and interest rate cuts to counter Trump’s tariff threats
3 months, 2 weeks ago

China pledges more borrowing and interest rate cuts to counter Trump’s tariff threats

CNN  

China pledged Thursday to increase the budget deficit, borrow more and loosen monetary policy to maintain stable economic growth as it girds for more trade tensions with the United States where Donald Trump is returning as president. A separate readout from state news agency Xinhua, watched by financial markets for references to the yuan currency, kept a pledge to “maintain …

China's leaders vow more 'relaxed' monetary policy in 2025
Trending News
3 months, 2 weeks ago

China's leaders vow more 'relaxed' monetary policy in 2025

New Indian Express  

BEIJING: Chinese President Xi Jinping and other top leaders said Monday they would adopt a more "relaxed" approach to monetary policy as they hashed out plans to boost the economy next year. The world's second-largest economy is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt -- all of which threaten Beijing's official growth …

Policy support driving V-shaped recovery in Q4, experts say
Top News
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-11-20 14:59 The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities …

Policy support driving V-shaped recovery in Q4, experts say
Top News
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
4 months ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Incremental Policies Boost China's Economic Growth
Trending News
4 months, 3 weeks ago

Incremental Policies Boost China's Economic Growth

China Daily  

China's economy is showing steady growth, with trade volume and GDP growth reaching record highs. The country's incremental policies are further boosting growth potential, spurring consumption and investment. International financial institutions are optimistic about China's future growth prospects, with Goldman Sachs and J.P. Morgan raising their forecasts for the year. The vitality of the Chinese economy also comes from its …

Incremental Policies Boost China's Economic Growth
Trending News
4 months, 3 weeks ago

Incremental Policies Boost China's Economic Growth

China Daily  

China's economy is showing signs of continued growth, with trade volume and GDP growth reaching record highs. The recent package of incremental policies is further unlocking growth potential and boosting confidence in the country's development. International financial institutions are also raising their forecasts for China's economic growth this year.

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5 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?
5 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 grappling with weak consumer demand
5 months, 3 weeks ago

China grappling with weak consumer demand

China Daily  

By Sheng Songcheng | China Daily | Updated: 2024-09-30 07:48 AI China's economy is grappling with the significant challenge of weak consumer demand. If we raise this threshold from 5,000 yuan to 8,000 yuan, it is estimated that the annual tax revenue could decrease by about 30 billion yuan, which makes up for just 0.17 percent of the total tax …

China grappling with weak consumer demand
5 months, 3 weeks ago

China grappling with weak consumer demand

China Daily  

AI China's economy is grappling with the significant challenge of weak consumer demand. If we raise this threshold from 5,000 yuan to 8,000 yuan, it is estimated that the annual tax revenue could decrease by about 30 billion yuan, which makes up for just 0.17 percent of the total tax revenue last year and would have minimal impact on overall …

Robust policy steps urged to boost economy
6 months, 3 weeks ago

Robust policy steps urged to boost economy

China Daily  

The Inner Street Culture Creative Park is bustling with activity during the night market in Qingxiu district, Nanning, Guangxi Zhuang autonomous region, on April 16, 2024. China should further bolster its economy by stepping up fiscal and monetary policy support, including raising the budget deficit and effecting more cuts in the reserve requirement ratio and interest rates, said economists and …

China's factory output disappoints, dashing hopes for speedy recovery
7 months, 1 week ago

China's factory output disappoints, dashing hopes for speedy recovery

The Hindu  

China's factory output growth slowed and missed expectations in July, adding to a series of indicators that show the world's second-largest economy is struggling to kick into a higher gear, even with recent government support. "The data shows that the economy has gotten off to a weak start in the second half of the year, and it is expected that …

China revs up fiscal policy support to spur economic recovery
7 months, 3 weeks ago

China revs up fiscal policy support to spur economic recovery

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. BEIJING - China is making efforts to step up its fiscal policy support and ensure the implementation of established policies, aiming to consolidate its economic recovery as rising external headwinds weigh on growth. The country will strengthen its fiscal policy to ensure the economy sustains its recovery momentum, …

Fiscal policies to aid sci-tech innovation
7 months, 3 weeks ago

Fiscal policies to aid sci-tech innovation

China Daily  

Skyscrapers border a lush green landscape in Shenzhen's central business district. China will strengthen the implementation of fiscal and taxation policies supporting scientific and technological innovation, to promote industrial upgrades and foster new growth momentum, a senior official said on Wednesday. "Focusing on 'strengthening foundation and targeting key areas', we will further support the enhancement of capabilities in scientific and …

China’s top leaders vow to improve confidence in its slowing economy
7 months, 3 weeks ago

China’s top leaders vow to improve confidence in its slowing economy

The Hindu  

China’s powerful Polit Bureau has endorsed the ruling Communist Party’s long-term strategy for growing the economy by encouraging more consumer spending and weeding out unproductive companies to promote “survival of the fittest.” A statement issued on July 30 after the meeting of the 24 highest leaders of the party warned that coming months would be tough, perhaps alluding to mounting …

Sara Hsu
7 months, 3 weeks ago

Sara Hsu

The Diplomat  

From July 15-18, the 20th Central Committee of the Chinese Communist Party – the top governing body of China’s ruling party – will convene for its much-anticipated “third plenum.” Since the beginning of the reform and opening era, each Central Committee’s third plenum has long set the policy direction for China’s economy. “China’s ongoing government-backed economic policy is viewed by …

China moves to pep up its slowing economy, lays out roadmap for its future
8 months ago

China moves to pep up its slowing economy, lays out roadmap for its future

Associated Press  

BANGKOK — China’s ruling Communist Party released a 50-page roadmap addressing long-term challenges confronting the world’s second-largest economy, while the central bank cut key interest rates Monday in a surprise move to pep up the struggling property sector. The action by the People’s Bank of China was a short-term adjustment that appeared to signal a recognition that the economy needs …

Structural reforms key priority area
8 months, 1 week ago

Structural reforms key priority area

China Daily  

Skyscrapers border a lush green landscape in Shenzhen's central business district. Structural reforms to boost technological innovation and drive industrial upgrading will be among the key priorities of China's policymakers to foster new quality productive forces and promote high-quality development over the next few years, said economists and entrepreneurs. Senior China researchers and analysts said they believe the metric of …

China's central bank to enhance implementation of monetary policies
11 months, 3 weeks ago

China's central bank to enhance implementation of monetary policies

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing. BEIJING -- China's central bank on Wednesday pledged efforts to enhance the implementation of a slew of monetary policies -- in order to effectively stimulate the economy. The bank will appropriately increase the relending and rediscount quota for small enterprises and the agriculture sector, make good …

China’s New Funding Model: Keep It Central
1 year ago

China’s New Funding Model: Keep It Central

Live Mint  

HONG KONG—China’s central government is ready to load up on debt to help the economy. The move will take part of the burden for funding the country’s economic growth away from heavily indebted local governments, some of which are facing severe strain after years of heavy borrowing. The country’s local governments have long played a crucial role, allocating trillions of …

China pushes for 5% GDP growth
1 year ago

China pushes for 5% GDP growth

China Daily  

China aims to see economic expansion at around 5 percent for 2024, unchanged from last year, as the world's second-largest economy will leverage intensified and targeted macro policies to sustain stable growth, according to the Government Work Report released on Tuesday. The country pledged to pursue a proactive fiscal policy that will be intensified as appropriate with improved quality and …

China’s Boom Is Over—Beijing Is Making It Worse
1 year ago

China’s Boom Is Over—Beijing Is Making It Worse

Live Mint  

China’s fundamental challenges—including weak demographics and heavy debts—are indeed tough. The big targets themselves didn’t contain any surprises: Like last year, Beijing is aiming for “around" 5% growth, 3% inflation and 12 million new urban jobs. But it Given how bad things have been, Chinese short-term interbank rates and government bond yields have remained notably high over the past half …

China doubles down on moves to mend its economy and fend off a financial crisis
1 year, 1 month 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 …

Stable growth to be focus of policy support
1 year, 2 months ago

Stable growth to be focus of policy support

China Daily  

Experts emphasize need to boost market confidence, stimulate demand in 2024 China is expected to step up policy support for micro, small and medium-sized enterprises and advanced manufacturing in a more precise manner, while also paying more attention to prevent industry regulatory measures from constraining economic vitality, experts said. They said that fiscal policies should amplify the positive effects of …

PBOC sets goals to support economic growth, development
1 year, 2 months ago

PBOC sets goals to support economic growth, development

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing. China's central bank will work to sustain buoyant financing activity while expanding financial opening-up this year as part of its efforts to effectively support economic growth and high-quality development. The People's Bank of China, the country's central bank, said on Friday that it will focus on …

China expected to maintain steady growth
1 year, 2 months ago

China expected to maintain steady growth

China Daily  

A view of the Huangpu River in Shanghai. Experts say consumption will remain primary driver of economy in 2024 China's economy is set to maintain robust and steady growth in 2024 as domestic demand further recovers, driven by ramped-up macroeconomic policy support and the deepening of industrial upgrading, senior experts said. Traditional consumption areas such as vehicles and electronics are …

U.S. and China to Meet as Shifting Economic Fortunes Alter Relationship
1 year, 4 months ago

U.S. and China to Meet as Shifting Economic Fortunes Alter Relationship

Live Mint  

As Treasury Secretary Janet Yellen meets Chinese Vice Premier He Lifeng this week, the two sides find themselves in an economic role reversal. The comparative U.S. strength and Chinese weakness is a change from previous rounds of diplomacy between the world’s two largest economies, when China’s rocketing growth fed anxiety among American officials about Beijing’s geopolitical ambitions. Beijing is concerned …

Intensified govt policy support set to boost economic growth in Q4
1 year, 6 months ago

Intensified govt policy support set to boost economic growth in Q4

China Daily  

SONG CHEN/CHINA DAILY China's credit is expanding again. China's policy support has gone through two stages after the Political Bureau of the Communist Party of China Central Committee changed its assessment of the economy. On Aug 31, the People's Bank of China, the country's central bank, and the National Administration of Financial Regulation jointly issued a series of easing measures …

China's great wall of debt driving ‘unsustainable’ increase in borrowing, IMF warns
1 year, 6 months ago

China's great wall of debt driving ‘unsustainable’ increase in borrowing, IMF warns

The Telegraph  

China is driving global debt back towards unsustainable levels amid an “unparalleled” borrowing binge by property developers and local governments, according to the International Monetary Fund. The IMF warned that a declining global debt share in 2022 risked being just a “pandemic blip” and said there was an urgent need to “restore fiscal sustainability”. “Global debt, which remained significantly higher …

Local governments urged to encourage consumption
1 year, 7 months ago

Local governments urged to encourage consumption

China Daily  

Local governments in China should step up efforts to spur investment and boost consumer spending to tackle the dual challenges of sluggish domestic and external demand, experts said on Friday. However, Guangdong province, which has the highest regional GDP and contributed nearly one-fifth of the country's total foreign trade value last year, was one of the underperformers and reported only …

NDRC vows policy boost for consumption, investment
1 year, 8 months ago

NDRC vows policy boost for consumption, investment

China Daily  

Diners enjoy food at a restaurant in a shopping mall in New Century Square, Handan, Hebei province, on Jan 24. "With the key focus being on areas such as stabilizing spending on big-ticket items, spurring consumption of automobiles and electronic products, expanding rural consumption and optimizing the consumption environment, we will roll out a range of practical and effective policy …

NDRC vows policy boost for consumption, investment
1 year, 8 months ago

NDRC vows policy boost for consumption, investment

China Daily  

Diners enjoy food at a restaurant in a shopping mall in New Century Square, Handan, Hebei province, on Jan 24. "With the key focus being on areas such as stabilizing spending on big-ticket items, spurring consumption of automobiles and electronic products, expanding rural consumption and optimizing the consumption environment, we will roll out a range of practical and effective policy …

NDRC vows policy boost for consumption, investment
1 year, 8 months ago

NDRC vows policy boost for consumption, investment

China Daily  

Diners enjoy food at a restaurant in a shopping mall in New Century Square, Handan, Hebei province, on Jan 24. "With the key focus being on areas such as stabilizing spending on big-ticket items, spurring consumption of automobiles and electronic products, expanding rural consumption and optimizing the consumption environment, we will roll out a range of practical and effective policy …

Policy support set to boost consumption
1 year, 10 months ago

Policy support set to boost consumption

China Daily  

Nation will deepen reforms to increase incomes, bridge urban-rural wealth gap China will step up its policy support to increase consumer spending and unleash the country's purchasing potential, a key force that propels the nation's economic recovery and underpins its endeavors toward modernization and prosperity, experts said. The policy push, including the removal of administrative restrictions in the housing and …

Policy support set to boost consumption
1 year, 10 months ago

Policy support set to boost consumption

China Daily  

People choose products in a duty-free shop in Haikou, South China's Hainan province on Jan 26, 2023. The policy push, including the removal of administrative restrictions in the housing and automobile markets, is among China's priorities in order to revive the vibrancy of its consumer market because the central leadership has identified insufficient domestic demand as an acute challenge facing …

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