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China Economy

China's Central Bank Steps Up Yuan Support After Fed Move

China's central bank has stepped in to support the yuan after the US Federal Reserve's latest interest rate decision sent the dollar soaring, reports Nikkei Asia. The People's Bank of China (PBOC) set the yuan's reference rate at 7.1911 per dollar

Trump Tariffs Could Cut China's Growth by More Than Half: Report

The potential impact of President-elect Donald Trump's proposed tariffs on Chinese imports could be devastating for the Chinese economy, potentially pushing its growth rate below 2% by 2035, warns a new report from the Japan Center for Economic Research (JCER). The report, released Wednesday, outlines two scenarios: a

Resource-Rich Currencies Battered as China's Economic Slump Persists

The currencies of resource-rich nations like Brazil and Canada are weakening as China's prolonged economic downturn continues, exacerbated by uncertainty over Beijing's stimulus measures, reports Nikkei Asia. These currencies have been declining against the US dollar since October. The Brazilian real hit a record low against

Chinese Property Developers Brace for Onshore Debt Restructuring in 2025

Chinese property developers are gearing up for a wave of onshore debt restructuring in 2025, marking a significant shift in their approach to tackling the sector's ongoing liquidity crisis, reports Reuters. While offshore debt restructuring efforts gained momentum in 2022, developers have repeatedly sought to extend maturities on

China Plans Record Budget Deficit in 2025 to Counter US Tariff Threat

China will run a budget deficit of 4% of its gross domestic product (GDP) in 2025, the highest on record, as the country prepares to counter the impact of potential tariffs from the United States, report two sources with knowledge of the matter to Reuters. The new deficit target, which

Record Outflows Hit China's Capital Markets in November

China experienced a record $45.7 billion outflow from its capital markets in November, marking the largest monthly deficit in cross-border portfolio investment, as reported by Reuters, citing official data released on Monday by the State Administration of Foreign Exchange (SAFE). The $45.7 billion outflow reflects a significant divergence

China's Home Price Declines Ease for Third Month, But Recovery Remains Fragile

China's property market is showing signs of stabilization, with new-home price declines easing for the third consecutive month in November, reports Bloomberg. However, experts warn that the recovery is still fragile and uneven across different regions. National Bureau of Statistics figures released Monday revealed that new-home prices in

China's Property Investment Slumps Further in First Eleven Months of 2024

China's property investment continued its downward spiral in the first eleven months of 2024, according to data released by the National Bureau of Statistics (NBS) on Monday, reports Reuters. Property investment during this period fell by 10.4% compared to the same period last year, representing a marginal

China's New Home Price Declines Slow to 17-Month Low Amid Stimulus Efforts

China's new home prices fell at their slowest pace in 17 months during November, according to official data released on Monday by the National Bureau of Statistics. This moderation in price declines comes as the government intensifies its efforts to stabilize the crisis-ridden property sector, reports Reuters. New

China Aims for 5% GDP Growth in 2023, Says Government Official

China's economy is projected to expand by approximately 5% in 2023, according to a statement made by Han Wenxiu, deputy director of the country's central financial and economic affairs commission, reports Reuters. This growth is anticipated to contribute nearly 30% to global economic expansion. Speaking at