Chinese Economy | South China Morning Post
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  • Mar 4, 2015
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Chinese Economy

China to push ahead with fiscal reforms as it sets economic growth at 7.5pc

Chinese premier Li Keqiang. Photo: Reuters

Premier Li Keqiang today signaled that China will push ahead with key fiscal reforms that should eventually allow the country to cut its dependence on the fixed asset investment that currently drives economic growth.

Wednesday, 5 March, 2014, 4:50pm 4 comments

China current account surplus slips as capital account soars

China's capital and financial account turned to a huge surplus as foreign investment flowed into the country. Photo: EPA

China posted a US$188.6 billion current account surplus for last year – slightly lower than in the previous year – and a US$242.7 billion surplus in its capital and financial account – a massive turnaround from the deficit in 2012 – preliminary data from the country’s foreign exchange regulator showed on Friday.

7 Feb 2014 - 2:41pm

Why a recession would be good for China

If many big polluters were shut down, that would be a welcome change, despite the economic recession that would ensue. Photo: AP

China’s economic growth slowed in the final three months of last year to 7.7 per cent, the weakest quarter since 2009, but still way too fast to allow for the restructuring that the country urgently needs.

25 Jan 2014 - 3:21am 6 comments

Chinese factory activity expands more slowly, HSBC final PMI shows

A sub-index of new export orders touched a four-month low of 49.1 in December, the first time since August it had dropped below the 50-point mark. Photo: Reuters

China’s factory activity expanded at the slowest pace in three months last month, weighed down by shrinking export orders, a private survey showed on Thursday, consistent with views the economy’s growth rate has moderated into the end of the year.

2 Jan 2014 - 10:00am

HSBC's China services PMI confirms rebound indicated by official figure

China's services industry has so far weathered the global growth slowdown much better than the factory sector. Photo: Reuters

A private survey released on Tuesday confirmed official figures from the weekend that showed growth in China’s services industry edged up last month, offering further indications that the economy has stabilised in the run-up to a key party reform meeting.

5 Nov 2013 - 1:10pm

China, once US companies’ great hope, now a drag

KFC’s parent, Yum Brands, gets nearly 51 per cent of revenue from China, highlighting US companies’ exposure to any slowdown on the mainland. Photo: Reuters

It’s official: China’s slowdown is starting to hurt corporate America.

As the world’s second-largest economy - and still growing - China is seen as a primary source of revenue growth by the largest US companies. But a country that once boasted double-digit growth is now growing at a more modest 7.5 per cent rate, its credit markets are overheated and fears of a housing bubble remain.

19 Jul 2013 - 3:39pm

China’s test: controlled slowdown or unemployment nightmare

Failure to keep Chinese in jobs could threaten the social stability and economic prosperity that the Communist Party says justifies its one-party rule. Photo: Reuters

The success or failure of China’s efforts to revamp its giant economy may rest with workers like Hu Zhao and Deng Jindong.

20 Jul 2013 - 3:53am

End of China boom a challenge, not a crisis: Australia

China’s appetite for resources helped shield Australia from the worst of the global financial crisis, but the boom may be over. Photo: Reuters

Treasurer Chris Bowen on Thursday insisted an end to the Chinese resources boom was not a crisis for Australia’s mining-driven economy, but admitted it was a challenge.

Australia’s economy is facing a difficult transition from its reliance on commodities as China’s growth slows and the resources investment boom peaks.

18 Jul 2013 - 1:41pm

SAP warns China slowdown hurting software sales

SAP warns on outlook. Photo: Reuters

Germany’s SAP on Thursday curbed its outlook for this year software revenue, citing the effects of slowing economic growth in China and customers’ move to cloud-based services.

18 Jul 2013 - 3:20pm

China property price rise sparks fears of more curbs

Home prices on the mainland have continued to climb, but there are fears more rules to rein in the market will be issued. Photo: Reuters

Although the pace of growth slowed slightly from May, prices in nine cities, including Beijing, Shanghai, Guangzhou and Shenzhen, saw increases of more than 10 per cent from a year earlier, according to data tracked by the National Bureau of Statistics.

19 Jul 2013 - 4:11am 5 comments

Slowdown fears as Chinese economy grows by 7.5pc

Slowdown fears as Chinese economy grows by 7.5pc

China’s economy grew 7.5 per cent in the second quarter, its slowest pace in a year, though data from the National Bureau of Statistics on Monday revealed that resilience in the domestic sector helped offset a decline in the rate of expansion in the export-oriented industrial sector.

15 Jul 2013 - 10:48pm 4 comments

China GDP to test reformers’ stomach for weaker growth

Economists polled by Reuters expect second quarter figures to show that China’s economy likely grew 7.5 per cent year-on-year. Photo: Reuters

China’s resolve to revamp its economy for the long-term good will be tested this month when a slew of data show growth is grinding towards a 23-year low, with no recovery in sight.

8 Jul 2013 - 1:14pm

China money rates tumble as central bank lets cash flow in

China’s central bank allowed short-term borrowing costs to spike to close to 30 percent last month. Photo: AP

China’s inter-bank funding costs fell further on Tuesday as the central bank refrained from draining funds via its regular open market operations, and traders predicted rates would soon return to levels seen before the recent cash crunch that roiled global markets.

2 Jul 2013 - 10:42pm

China still in early stage of weak recovery, economists say

Profits at Chinese industrial firms rose 15.5 per cent year-on-year in May.  Photo: AFP

The National Bureau of Statistics said yesterday industrial firms made a profit of 470.6 billion yuan (HK$589 billion) last month, up 15.5 per cent compared to a growth of 9.3 per cent in April.

28 Jun 2013 - 12:49am

Scalpel in hand, Chinese Premier Li stirs reform hopes

The People’s Bank of China has allowed interest rates to stay high to slow runaway credit growth and to punish banks for reckless practices. Photo: Reuters

Investors getting stung by China’s worst financial market rout in years should find solace in the fact that the government, in particular Premier Li Keqiang, is willing to play hardball to force through much-needed policy change.

26 Jun 2013 - 2:43pm