Chinese Economy | South China Morning Post
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  • Mar 30, 2015
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Chinese Economy

Xi Jinping's 'new normal' with Chinese characteristics

President Xi Jinping said last week the mainland must "adapt to the new normal condition" in economic growth. Photo: Xinhua

The world needs to get ready for a new normal with Chinese characteristics. Reacting to yet more evidence that China's growth is moderating quickly, President Xi Jinping more or less told us last weekend to get used to it.

Thursday, 15 May, 2014, 12:33am

State sector is China's secret sauce

China's state enterprises, with their high tolerance for low returns and their very long time horizon, have been able to build massive infrastructure in a relatively short time.

It is too early to say if China has achieved economic success, even after 36 years of consistently high growth.

14 May 2014 - 8:03am 3 comments

Growth dips in China services sector, HSBC PMI shows

Jobseekers attend a jobs fair in Beijing. Employment growth in the nation's services industry fell to a seven-month low last month. Photo: AFP

Expansion in China's services industry slowed slightly last month, with employment growth slipping to a seven-month low, a private survey showed yesterday.

9 May 2014 - 7:15pm

Beneath China's headline ascent lies a headier online upsurge

China's tech leap forward

Some new words are too delicious to ignore. So it is with "Il Sorpasso", restored to mark the imminent statistical ascent of China to become the world's biggest economy.

8 May 2014 - 4:54am

China factory sector still losing momentum, HSBC PMI shows

New export orders slipped back into contraction after a recovery the previous month. Photo: AFP

Activity in the mainland's manufacturing sector last month contracted for a fourth consecutive month, a private survey showed yesterday, suggesting the world's second-largest economy is still losing momentum.

6 May 2014 - 2:39am 2 comments

China GDP growth slowest since 2012 but beats expectations

A cooling of the world’s second-largest economy may complicate Beijing’s plan to deepen fiscal and financial reforms. Photo: Reuters

China’s economy grew at its slowest rate last quarter since the third quarter of 2012 – though it slightly exceeded economists’ expectations – increasing the chances of policy easing, but massive stimulus looks unlikely.

16 Apr 2014 - 12:41pm 9 comments

Drop in HSBC flash PMI confirms weakness in Chinese economy

Earlier this month, economists cut their projections for China's growth after industrial production trailed estimates. Photo: AFP

An index of mainland manufacturing activity unexpectedly fell, underscoring the risk that leaders will need to add stimulus to meet this year's goal for economic growth.

The flash purchasing manager's index from HSBC and Markit Economics dropped to 48.1 this month, the companies said yesterday.

25 Mar 2014 - 1:08am

China retail sales lead business activity weakness, survey finds

The fall-off in retail sales on the mainland extends far beyond luxury goods, hurt by the government's corruption crackdown. Photo: AFP

Slowing retail sales stand out as the primary drag on the mainland's economic growth so far this year, while activity in almost every other business sector sagged, the latest quarterly China Beige Book survey found.

22 Mar 2014 - 4:58am 11 comments

Data points to broad slowdown in Chinese economy

China's Premier Li Keqiang played down the prospect of immediate intervention to stem a further slowdown. Photo: EPA

Fresh signs of weakness in the mainland economy have emerged, with a raft of indicators sinking to their lowest levels in years, but Premier Li Keqiang played down the need for stimulus, curbing hopes of a shift in policy.

14 Mar 2014 - 6:07pm 7 comments

Risks loom on China reform path amid slowing economic growth

Beijing has shown an increasing willingness to sacrifice some growth rate as it aims to overhaul a growth model that has relied on investment and money printing. Photo: AFP

Fresh signs of the struggle ahead for Beijing to deliver a cohesive reform-oriented agenda for economic growth have emerged as two of the mainland's top financial authorities outlined contrasting views on where the economy is heading.

7 Mar 2014 - 2:34am 2 comments

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.

5 Mar 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