Chinese Economy

China’s Sun Art Retail sees e-commerce sales surging over 2-3 years to 10 billion yuan

A man takes video at a briefing by Sun Art Retail, mainland China's largest hypermart operator. Photo: AFP

Mainland China’s largest hypermart operator Sun Art Retail expects its e-commerce platform to reach 10 billion yuan in sales over the next two to three years, the firm’s executive director Peter Huang Ming-tuan said at a press briefing this morning as the retai

Monday, 2 March, 2015, 2:21pm

China rate cut impact on property market ‘psychological’ as glut weighs

Construction site in Beijing as propert market digests second rate cut in months. Photo: Bloomberg

Mainland China’s second interest rate cut in three months has more of a psychological, rather than physical, impact on the struggling property market, industry analysts said.

18 Apr 2015 - 5:22pm

China February HSBC PMI hits 7 month high, more rate cuts seen

A worker welding at a construction site in Yunnan province in China. Activity in the country's factory sector hit a 7-month high in February. Photo: Reuters

Activity in China’s factory sector edged up to a seven-month high in February but export orders shrank and deflationary pressures persisted, a private business survey showed, adding to the view that yet more interest rate cuts will be needed.

2 Mar 2015 - 12:52pm

Chinese government think tanks says economic growth to slow in first quarter

Exports are expected to grow by 5 per cent in the first quarter. Photo: AP

The mainland’s gross domestic product growth is expected to slow to 7 per cent in the first quarter of this year, a top government think thank said in a report on Monday, following the central bank’s second benchmark rate cut in less than four months on Saturday.

2 Mar 2015 - 10:01am

'Targeting' by Beijing sees foreign firms limit China investment plans

A general view taken in November, 2013 shows the skyline of a central business district in Beijing. Twenty-four per cent of companies planning to invest more than US$250 million last year either cancelled or postponed their plans. Photo: AFP

Multinationals worried about being targeted in government investigations are scaling back mainland investment for the first time in a decade, according to a report on foreign-owned operations in southern China.

2 Mar 2015 - 8:11am 3 comments

State Council unveils tax break for small firms

Beijing gives small firms tax break

Beijing unveiled tax reductions for small companies in a bid to ease their financial burden amid a weakening economy and free up funds for them to invest in technology.

26 Feb 2015 - 3:31am 1 comment

China factories run at fastest for four months despite fall in export orders

China's exporters see sluggish demand. Photo: EPA

Activity in China’s mammoth factory sector edged up to a four-month high in February but export orders shrank at their fastest rate in 20 months, a private survey showed, painting a murky outlook that argues for more policy support.

25 Feb 2015 - 10:58am

Chinese consumer sentiment softens on worsening personal finances

The consumer sentiment index in China declined to 112 in February from 112.1 in January. Photo: Bloomberg

Mainland Chinese consumer confidence softened to record lows this month, as personal finances deteriorated, according to a joint statement issued by Westpac and MNI.

The consumer sentiment index in China declined to 112 in February from 112.1 in January, the survey showed. It has been hovering around the record low of 110.8 in September 2011.

25 Feb 2015 - 10:45am

China business sentiment falls to lowest level in eight years

Advertising billboards in a Beijing subway. To ease liquidity the central bank cut interest rates in November. Photo: Wu Nan

The outlook for business conditions in China over the next three months fell to a record low in February, according to the MNI China Business Indicator.

18 Feb 2015 - 5:24pm 1 comment

Why monetary easing is not so easy in China

China isn’t necessarily headed for a crash in 2015 but those counting on the PBOC to prop up growth need to reconsider their confidence. Photo: Bloomberg

As Chinese leaders attempt to guide their slowing economy into a soft landing, they’re counting heavily on People’s Bank of China Governor Zhou Xiaochuan to keep conditions stable.

17 Apr 2015 - 4:17pm

China January FDI grows at fastest clip in four years, services sector the biggest draw

Last year, China drew a record US$119.6 billion worth of FDI. Photo: AFP

Foreign direct investment (FDI) in China grew at its strongest pace in nearly four years in January, surging 29.4 per cent from a year earlier to US$13.9 billion (HK$108 billion) as investors largely shunned the troubled manufacturing sector and focused on the more resilient services industry.

16 Feb 2015 - 12:56pm

Chinese leaders look to entrepreneurs to boost economy

President Xi Jinping wants to encourage entrepreneurs. Photo: Reuters

Top leaders in Beijing have pledged to rebalance China's economy to rely more on innovation and entrepreneurship to help drive growth amid the continuing slowdown.

13 Feb 2015 - 5:59am

Parkson Retail Group says full year profit falls 33.5 per cent

A shopper walks away from a Parkson Retail Group store in Beijing. Photo: Bloomberg

Mainland department store operator Parkson Retail Group said full year profit dropped 33.5 per cent, dragged down by the costs of disposing old underperforming stores as it attempts to transform itself into a mall-like lifestyle experience.

“You can sense that the challenges that we face are unprecedented,” chief executive Shaun Chong Sui Hiong said.

12 Feb 2015 - 7:45pm

Tightening Chinese internet controls may strangle business - Euro Chamber

An internet cafe in Beijing, where restrictions on access to the internet could harm business. Photo: EPA

China’s recent measures to further restrict the Internet will cause massive harm to foreign and domestic business and the curbs risk becoming a tax on companies operating in the country, the European Chamber of Commerce warned yesterday.

12 Feb 2015 - 5:20pm 1 comment

China in talks with 28 countries on rail projects

Worker passes by almost completed high-speed train in Tangshan city in Hebei province in China. Photo: EPA

China is in talks with 28 countries including Russia, about high-speed rail projects, state-backed train maker China CNR said on Wednesday.

Yu Weiping, vice president of CNR, said though some of the projects in the 28 countries are in very early stages of discussion.

11 Feb 2015 - 6:02pm