Chinese Economy

IMF’s yuan call comes down to political considerations

Because of China’s capital account restrictions, less than one per cent of global reserve assets are invested in renminbi-denominated assets. Photo: Reuters

Putting the yuan in the International Monetary Fund’s Special Drawing Rights (SDR) basket has become more of a political rather than an economic battle between China and the United States.

Wednesday, 10 June, 2015, 8:49am 1 comment

Shenzhen mayor Xu Qin says city on its way to becoming high-tech hub despite missing growth targets

Shenzhen mayor Xu Qin says city on its way to becoming high-tech hub despite missing growth targets

Shenzhen's economic growth failed to meet the city government's target last year, according to a government work report due to be delivered to the municipal people's congress, though it acknowledged the achievements of the city's emerging industries such as information technology.

31 May 2015 - 6:38am

Nurture new sectors, think tank tells Beijing

Nurture new sectors, think tank tells Beijing

Short-term policies could stabilise the mainland's slowing economy in the second half of this year, but for growth to make a lasting recovery Beijing should foster new sectors and innovation, a government think tank's chief economist was reported as saying.

31 May 2015 - 6:38am

China's east-west income gap widens

China's slowing economy hit growth in people's incomes. Photo: Reuters

The income gap has widened between the country's poorer inland regions and richer east, home to much of the nation's burgeoning IT industry.

29 May 2015 - 5:18am 1 comment

Beijing to halve duties on average on key consumer items

Import taxes on a range of foreign-made consumer items would be halved on average from next Monday. Photo: Simon Song

Beijing will slash import duties on foreign-made garments, shoes, skincare products and diapers in a move aimed at bolstering domestic consumption to lower prices and benefit millions of middle-class shoppers.

26 May 2015 - 4:25am 5 comments

China cuts interest rates for third time since November as economy sputters

A view of commercial and residential buildings in Beijing. The People’s Bank of China (PBOC) says the move would support the healthy development of the economy. Photo: Reuters

Beijing slashed interest rates for a second time this year in a bid to spur the slowing economy and cut fundraising costs for cash-starved businesses.

11 May 2015 - 11:59am 1 comment

April figures fuel fears of deflation

April figures fuel fears of deflation

April figures fuel fears of deflation, as analysts see need for another interest cut on mainland.

10 May 2015 - 7:09am 1 comment

China’s Politburo approves tax cuts to boost growth

The Politburo meeting, chaired by President Xi Jinping (above), approved an economic growth plan to increase public spending and cut taxes. Photo: Xinhua

China will increase public spending and cut taxes to boost economic growth, according to the ruling Communist Party's top decision-making body.

1 May 2015 - 5:36pm 1 comment

China's Premier Li Keqiang lets fly at officials over delays in implementing tariff cuts for consumer goods

China's Premier Li Keqiang lets fly at officials over delays in implementing tariff cuts for consumer goods

Premier Li Keqiang has again shown impatience over bureaucratic delays, ordering officials to speed up trials on cutting tariffs for consumer products.

30 Apr 2015 - 8:22am 2 comments

China to cut tariffs on popular imports in bid to boost spending

Mainlanders appear to be more willing to head overseas to buy not just big-ticket luxury items but also regular household goods. Photo: EPA

The mainland will reduce tariffs on popular imported consumer goods to boost spending amid the economic slowdown, the State Council announced.

29 Apr 2015 - 10:35am 4 comments

China's labour pains: slower economic growth and a cooling job market

A woman at a job fair in Yiwu in Zhejiang. China has seen a rare twin slide in growth and a shortage in the labour force, an analyst says. Photo: Xinhua

As manufacturing falls, stability in labour force will depend on innovation and reforms, experts say.

25 Apr 2015 - 8:37am 1 comment

China’s factory activity falls at fastest pace in a year, survey suggests

A private survey suggests mainland factory activity is still in negative territory. Photo: AFP

Factory activity on the mainland contracted at its fastest pace in a year in April, a private survey showed, suggesting that economic conditions are still deteriorating despite increasingly aggressive policy easing by the central bank.

24 Apr 2015 - 8:18am 1 comment

China's central bank makes move to ease fears of stock sell-off

PBOC's move could help economic restructuring. Photo: Reuters

The central bank has cut the level of cash that banks must hold, in the second such action this year that highlights the leadership's concerns after the first quarter saw the slowest economic growth since 2009.

20 Apr 2015 - 9:04am 2 comments

Silk Road plan 'may take decades'

President Xi Jinping delivered a keynote address last month focusing on China's vision for the Silk Road initiatives. Photo: Kyodo

The threat of terrorist groups and uncertainty over China's future economic growth are some of the challenges facing the nation's New Silk Road initiatives, says a scholar at a Chinese government think tank.

19 Apr 2015 - 3:45am

China's Premier Li urges reluctant banks to support real economy

Premier Li Keqiang says downward pressure on growth is increasing.

Premier Li Keqiang has urged banks to do more to support the real economy, as mainland authorities grow frustrated with their reluctance to lend for productive investment.

19 Apr 2015 - 3:45am 1 comment