Chinese Economy

More signs of mainland growth momentum slowing

The mainland economy is having a weak start to the fourth quarter, with the latest indicators pointing to cooling demand. Photo: AP

The mainland economy lost further momentum heading into the fourth quarter as a cooling property market weighed on activity and export demand softened, surveys showed, putting Beijing's official growth target for the year at even greater risk.

Wednesday, 5 November, 2014, 8:28am 8 comments

China GDP forecast to hit 24-year low of 7.4pc

The economists said expansion for all of this year was likely to cool to 7.4 per cent, the slowest pace since 1990.

With the mainland's economic growth likely to sink this year to its slowest pace in 24 years, economists expect Beijing to cut next year's growth target to 7 per cent.

3 Nov 2014 - 4:59am

China's economic metamorphosis is incomplete

Total Chinese debt is 251 per cent of gross domestic product at the end of June

I am a second-generation immigrant. My daughters speak Putonghua - one serves a small non-governmental organisation in Beijing. It is absolutely in my interest for the Chinese economy to do well.

31 Oct 2014 - 6:05am 1 comment

World Bank urges Beijing to phase out hard economic targets

The World Bank wants to see more reforms in China's labour market, saying that reforms on a number of fronts can boost the country's economic growth potential. Photo: Reuters

Beijing should phase out hard economic targets to focus more on tackling its key structural reform challenges over the next few years, the World Bank said yesterday as it released its China economic update.

30 Oct 2014 - 4:51am

Time to put economy to new reform index test

Premier Li Keqiang says GDP is within a reasonable range.

Last Tuesday, the mainland reported that its economy grew at its slowest pace in more than five years. The third-quarter result of 7.3 per cent raised new concerns over the country's economic prospects..

27 Oct 2014 - 7:07am

Policymakers should put trust in private sector

Premier Li Keqiang has made it clear that amid a push for structural reforms aimed at sustainable economic expansion, the government would regard GDP growth around 7.5 per cent as acceptable.

When the global economy faces a crisis of confidence in growth, underwhelming data from the mainland does nothing to lift the gloom.

27 Oct 2014 - 12:01pm

China's growth in 'reasonable range', Vice-Premier Zhang Gaoli tells Apec

Vice-Premier Zhang Gaoli said the mainland's economic growth stayed in a reasonable range in the first three quarters of this year. Photo: Simon Song

Mainland leaders expressed comfort with the slower economic growth and played down predictions of the economy emerging as the world's biggest this year.

23 Oct 2014 - 7:55am

Trade still key to China's economy despite attempts at rebalancing

Imports declined 2.4 per cent year on year in August and rebounded 7 per cent last month, in a sign that demand is far from stable.

Despite the emphasis on consumption, economists expect trade to remain important to the mainland's economy, doubling by 2020 from the current 4 trillion yuan (HK$5.06 trillion) even though the current trade outlook remains shaky.

22 Oct 2014 - 5:21am

Decline in foreign reserves fuels talk of outflows in China

Mainland banks issued 857.2 billion yuan worth of new yuan loans last month after credit supply tumbled in July. Photo: Bloomberg

A rare decline in the mainland's foreign-exchange reserves has triggered speculation about capital outflows, while a rebound in new yuan loans extended by mainland banks suggests an easing of domestic monetary conditions.

17 Oct 2014 - 5:07am

Chinese companies facing capital spending crunch

Slower spending by firms underscores the challenges of containing an economic slowdown set to be its worst in 24 years. Photo: AFP

Mainland companies are on a pace to cut capital spending by around 7 per cent this year, the biggest annual reduction since the global financial crisis, deepening an economic chill.

17 Oct 2014 - 4:34am

China's foreign trade upside may put brakes on need for massive stimulus

Mainland exports jumped 15.3 per cent last month while imports gained 7 per cent, with both figures beating market expectations. Photo: AFP

Surprisingly rapid growth in mainland exports and imports last month has improved the odds for a recovery in the world's second-largest economy in the final quarter of the year.

14 Oct 2014 - 4:39am 1 comment

World Bank trims growth forecasts for developing East Asia and China

The World Bank said growth in China was likely to slow to 7.4 per cent in 2014 and 7.2 per cent in 2015. Photo: Reuters

The Washington-based lender expects the developing East Asia and Pacific region to grow 6.9 per cent this year and next, down from the 7.1 per cent rate it had previously forecast for both years.

7 Oct 2014 - 5:14am 1 comment

Beijing's economic growth targets are too high, IMF says

Declining efficiency of investment, a significant buildup of debt, income inequality and environmental costs are threatening growth prospects, the IMF said. Photo: Reuters

The International Monetary Fund has urged Beijing to lower its growth target next year but forecasts China is likely to meet its annual target of "around 7.5 per cent" this year.

1 Aug 2014 - 4:30am 4 comments

China consumer sentiment edges up but still subdued

Mainland consumers appear more convinced that actions taken by Beijing will help support the economy over the long term. Photo: Xinhua

Consumer sentiment on the mainland ticked up this month as expectations for long-term business conditions improved, thanks to Beijing's pro-growth policies, a Westpac MNI survey found.

31 Jul 2014 - 5:13am 3 comments

China has yet to walk the talk on economic reform

Many Chinese farmers may have to wait six more years for stronger ownership rights. Photo: Xinhua

The mainland's economic statistics provoke a lot of debate. This is a bit odd, since Premier Li Keqiang seems to have previously settled the matter.

Not only did Li famously dismiss Chinese national income accounting as "man-made", he demanded reform like "cutting a wrist".

29 Jul 2014 - 1:25am 1 comment