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Latest from Elaine Chan
China’s top leadership has rejected massive stimulus, instead opting to continue targeted support and reliance on consumer spending to help stabilise growth.
Rabobank forecasts that prices will surpass the previous record seen in 2016 in the fourth quarter, hitting 30 yuan (US$4.36) per kilogram, after over 1 million pigs were culled.
China’s exports in the first six months of 2019 rose by just 0.1 per cent, dampening demand for imports to increase pressure on the worldwide supply chain.
Shanghai-listed Fushun Special Steel was found to have fabricated financial numbers for its inventory, earnings and fixed-asset investments.
Liaoning reported 6.1 per cent growth in the first quarter of 2019 but its state-owned industrial giants continue to haemorrhage funds.
Despite pressure from Beijing to lend to private sector and help arrest China’s economic downturn, the country’s banks may not have enough money.
The larger-than-expected US$18.2 billion increase comes despite ‘increasing uncertain external factors’, according to the foreign exchange regulator.
US President Donald Trump is entering the 2020 election cycle, while Chinese counterpart Xi Jinping can also not seen to be weak.
Pegatron Corporation is one of many firms diversifying their manufacturing away from China, with a US$40 million project to make wireless chips and semiconductors.
It is hoped Xi Jinping and US counterpart Donald Trump will meet in Japan later this month to at least stop tariffs on a further US$300 billion of Chinese imports.
Speculation that China could use massive reserves, mostly US dollar-denominated assets, to counter trade war moves by US President Donald Trump.
Guangzhou’s quota will be increased by 100,000 and Shenzhen’s by 80,000, but move ‘will serve as short-term stimulus’ in efforts to offset US-China trade war.
Despite slowdown in global growth, China’s economy has achieved steady expansion, president tells Russian media ahead of state visit.
The increased demand comes amid Beijing’s drive to shift away from an export-oriented economy to one driven by domestic consumption amid the US-China trade war.
The pest has already attacked crops in 13 provinces and regions in southern China after African swine fever forced China to slaughter millions of pigs.
For more than a century, coal was the centre of life for the residents of Fushun, 50km from the Liaoning provincial capital of Shenyang, earning the city the nickname “capital of coal”.
The services industry in the provinces of Liaoning, Jilin and Heilongjiang combined is less than a third of the size of Guangdong’s.
Exports dropped by 2.7 per cent in April, countering a 14.2 per cent rise in March and an economic growth rate of 6.4 per cent in the first quarter of 2019
As the natural resources that gave rise to heavy industries in China’s northeast run dry, the cities that developed around coal mines are struggling to modernise.
Liaoning, Jilin and Heilongjiang were the birthplace of China’s industrialisation in the 1950s, but now contribute just 6.3 per cent to gross domestic product combined.
Lack of access to capital at an affordable rate remains primary problem facing small and medium-sized manufacturers.
Private education spending is registering double-digit growth and has become a recession-proof sector.
Civil Aviation Administration of China ordered domestic carriers to temporarily ground the aircraft after fatal Ethiopian Airlines crash.
The world’s biggest car market sold 1.48 million vehicles in February, a 13.8 per cent drop, while sales of passenger cars dropped 17.4 per cent to 1.22 million.
Exports in the first nine days of March surged 39.9 per cent after February showed the largest drop in three years, led by a large fall in trade with the United States.
Domestic structural issues are a bigger factor in the slowdown than impact from the US-China trade war.
Future of the economy to be prime topic at meetings of the National People’s Congress and Chinese People’s Political Consultative Conference over the next two weeks.
Hong Kong’s GDP rose to HK$2.85 trillion last year compared to 2.42 trillion yuan or HK$2.87 trillion in Shenzhen.
Most of the nation’s 31 provinces failed to meet 2018 budget targets after China’s cut in value-added tax last year.
Firms in Jiangsu and Guangdong provinces top the list of new additions to social credit system blacklist in 2018.
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