Fiscal & Monetary Policy

China’s property crisis has seen bad bank loans surge. Photo: Bloomberg

How China’s property woes test Beijing’s bottom line of no systemic risks

A Post review of midyear financial reports by 18 ‘systemically important’ banks in China finds that more than two-thirds have higher outstanding non-performing property loans.

29 Sep 2023 - 12:55AM
Travellers from across China will visit Beijing during the ‘golden week’ holiday that begins on Friday, and a giant flower pot in Tiananmen Square is expected to be a big attraction. Photo: Xinhua

China’s ‘golden week’ spending and travel surge seen as economic boon

The release of pent-up demand, with travellers and consumers opening their wallets for the long holiday, could help lift China’s economy out of the doldrums.

28 Sep 2023 - 7:30PM
President Xi Jinping, seen here speaking in Zhejiang province on Saturday, has said China’s free-trade zones must strive for innovation and breakthroughs. Photo: Xinhua

China’s Xi Jinping appeals to decades-old mantra of reform, eyeing economic jolt

The president addresses some oft-mentioned gripes among the international community, acknowledging that China must do more to open up to the rest of the world.

27 Sep 2023 - 8:37PM
The People’s Bank of China says it will push for the development of a “new model” for the property sector. Photo: AFP

China vows to strengthen policy support after August profits rebound

Central bank meeting outlines plans for more targeted monetary policies to aid economic recovery.

27 Sep 2023 - 5:11PM
Cong Liang, deputy head of the National Development and Reform Commission (NDRC), had harsh words for critics: “This kind of rhetoric has never been successful and will not succeed, now or in the future.” Photo: Weibo

High-level officials defend China’s economic prospects at conference

During a briefing on the state of China’s economy, officials from multiple government departments presented a united front against criticism of the country’s recent showing.

20 Sep 2023 - 11:40PM
Commuters at an intersection in Hong Kong’s Central district on 6 April 2023. Photo: Yik Yeung-man

Hong Kong is well-placed to tap Asia’s growth, CIC’s advisors say

The former central bank governor also called for global efforts to offset geopolitical and economic headwinds, in an address at an investment forum by China Investment Corporation.

20 Sep 2023 - 7:56PM
China’s overall holding of US debt remains at a 14-year low. Photo: Reuters

China slashes US Treasury holdings again as rate-hike cycle’s end looms

The world’s second-largest economy offloaded US$13.6 billion worth of US debt in July, but China remains the second-largest foreign holder of US Treasury bills, having been surpassed by Japan in mid-2019

19 Sep 2023 - 11:00PM
Tesla’s electric vehicles are seen in Shanghai. The company was represented at a meeting on Monday in which Beijing sought to reassure foreign investors that they can still thrive in China. Photo: Getty Images

China’s central bank reassures likes of HSBC, Tesla amid investment exodus

As concerns mount over disappointing economic figures, Beijing gathers major firms to remind them of its commitment to their continued success.

19 Sep 2023 - 8:02PM
China’s ageing population is affecting the nation’s labour force, impeding middle-class growth, according to some analysts. Photo: AP

US middle class feels it is ‘dying’ while China’s has its own problems

The growth of China’s key middle class is set to be hindered by an ageing population, while in the US, flat wage growth and a drop in university enrolments is hurting the crucial segment of society.

19 Sep 2023 - 11:40AM
China’s yuan has depreciated considerably against the US dollar this year. Photo: Shutterstock

Will China weaponise the yuan? Global finance body throws cold water on idea

Intentionally weakening the yuan would be a boon for cheaper Chinese exports, but on the whole, a devalued yuan could make China’s problems much worse.

16 Sep 2023 - 7:35AM
An employee works on the production line of a television factory in Shenzhen. Photo: Reuters

Shenzhen to import more integrated circuits, steel itself against US sanctions

Beijing has high hopes for Shenzhen and its role in ensuring that China becomes technologically self-sufficient in the face of crippling US curbs on technology transfers.

15 Sep 2023 - 9:00PM
China’s retail sales rose by 4.6 per cent in August, according to official data released on Friday. Photo: Reuters

Latest China data shows policy pay-off, but no ‘animal spirit’ in private sector

China’s economy showed signs of life in August, with retail sales and manufacturing picking up, but some analysts are still waiting to see if Beijing has a ‘bold reform plan’ up its sleeve, as the road to recovery remains rocky.

18 Sep 2023 - 9:17AM
China will cut its reserve requirement ratio by 0.25 percentage points on Friday. Photo: Reuters

China cuts banks’ reserve requirement ratio ahead of August data release

The People’s Bank of China’s second cut to the ratio this year comes as the world’s second-largest economy has struggled to rebound in recent months.

14 Sep 2023 - 8:45PM
Chinese equities suffered an outflow of around US$15 billion in August, marking the largest monthly outflow on record for Chinese stocks. Photo: EPA-EFE

Negative economic sentiment haunts China’s portfolio inflows, FDI to contract

Chinese equities suffered an outflow of around US$15 billion in August, marking the largest monthly outflow on record for Chinese stocks.

14 Sep 2023 - 3:13PM
China’s exports have already registered a year-on-year fall for a fourth consecutive month to US$284.9 billion in August, having fallen by 8.8 per cent from a year earlier. Photo: Xinhua

As China works through yuan tool kit, weak currency hits traders, travellers

China’s yuan fell to a 16-year low against the US dollar last week, with financial regulators vowing to take action to stem one-sided speculative bets, but exporters are already under pressure to change prices.

13 Sep 2023 - 8:55AM
The yuan has continued to weakened against the US dollar in recent weeks, falling to a 16-year low of 7.3510 on Friday. Photo: Reuters

China’s financial regulators vow to not hesitate, halt bets on yuan

China’s financial regulators on Monday vowed to take action after China’s yuan fell to a 16-year low against the US dollar last week.

11 Sep 2023 - 5:15PM
China’s consumer price index (CPI) rises by 0.1 per cent from a year earlier. Photo: AFP

Explainer | ‘Bout of deflation largely transitory’: 4 takeaways from China’s inflation data

China’s consumer prices returned to positive territory in August, while factory-gate prices fell for an 11th consecutive month.

11 Sep 2023 - 12:31PM
Chinese who amass insurmountable debt often find that their “debts keep snowballing”, according to those who fail to declare bankruptcy. Illustration: Lau Ka-kuen

Death and debt in China: when bankruptcy is off the table, so are fresh starts

China’s southern metropolis of Shenzhen is the only mainland city where individuals can apply for bankruptcy, but it’s not easy, as authorities seem to frown on debt forgiveness.

12 Sep 2023 - 2:21PM