Tag: China

US finalizes rules to prevent China from benefiting from $52 billion in chips funding

The U.S. Commerce Department on Friday is issuing final rules to prevent semiconductor manufacturing subsidies from being used by China and other countries deemed to pose American national security concerns.

China seeks to facilitate capital flows to woo foreign investors

China repeated rules to ensure free cross-border money transfers for foreign businesses in its two most important cities amid efforts to win back companies as overseas investment slumps and the economy slows.

Chinese travel demand back, Europe set to gain – survey

Demand for foreign travel in China has reached its highest level in two years, the organisers of the ITB travel conference said on Tuesday citing a survey in which some 80% of respondents said they planned to travel abroad in the next 12 months.

China’s retail sales surprise with faster growth in August, but real estate drag worsens

China’s retail sales and industrial production picked up pace in August with better-than-expected growth, according to National Bureau of Statistics data released Friday.

European Union launches anti-subsidy probe into Chinese EVs

The European Commission, the executive arm of the European Union, on Wednesday launched an investigation into subsidies given to electric vehicle makers in China, according to President Ursula von der Leyen.

China car sales rise 2.2% y/y in Aug

China’s passenger vehicle sales jumped 2.2% in August from a year earlier, data from the China Passenger Car Association (CPCA) showed on Friday.

China’s exports drop by 8.8% in August as trade slump persists

China reported Thursday another monthly decline in imports and exports, albeit less steep than expected.

China Property Stocks Rally on Speculation of More Stimulus

A key gauge of Chinese property stocks rallied to its highest level in about four weeks with market watchers pointing to speculative flows betting on more policy support for the struggling sector.

Exclusive: China to launch $40 billion state fund to boost chip industry

 China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, as the country ramps up efforts to catch up with the U.S. and other rivals.

Chinese electric carmakers ramp up push overseas, setting up clash with U.S., European auto giants

The IAA in Munich, Germany is one of Europe’s most high-profile auto shows. And it was dominated by Chinese electric car firms looking to expand their presence on the continent.

Alibaba Stock Slumps After More Gloomy Economic Data. Here’s the Upside.

A gloomy economic backdrop has weighed on Alibaba and other Chinese stocks, with grim factory data Thursday continuing the trend. But there is reason for hope, because the latest release wasn’t as bad as expected and there are other glimmers of resilience.

China says drop in trade with the U.S. is ‘a direct consequence of U.S. moves’

China’s ambassador to the U.S., Xie Feng, has blamed U.S. tariffs and export controls for a drop in trade between the two countries.

U.S. Commerce Secretary Raimondo calls on China to provide more predictability for business

U.S. Commerce Secretary Gina Raimondo has called on China to improve the predictability of the business environment for American companies in the country.

Chinese Stocks Rally After Cut to Tax on Trades. Alibaba, JD.com Are Rising.

Chinese stocks climbed on Monday after the government said it would reduce a tax on trading and take other steps to boost its capital markets.

In China, Gina Raimondo vows US will ‘protect our workers’ as it pursues healthy competition

US Commerce Secretary Gina Raimondo described the current state of relations between the world’s two largest economies as complicated and challenging, when she met with Chinese counterpart Wang Wentao in Beijing on Monday to discuss mutual concerns and attempt to get the foundation for those relations on a more firm footing.

Stimulus or bust: Investors staying out of China until the spending starts

Global investors fleeing China have one simple message for the country’s leadership: put prudence aside for a short while, and start spending big.

China’s central bank trims 1-year rate, but unexpectedly leaves 5-year rate unchanged

China’s one-year loan prime rate — the peg for most household and corporate loans in China — was cut by 10 basis points from 3.55% to 3.45%, just shy of the 15 basis points that a majority of economists expected in a Reuters poll.

China is considering countermeasures to Biden’s executive order

China’s Ministry of Commerce signaled Thursday it would respond, if needed, to the Biden administration’s executive order to restrict U.S. investments in advanced Chinese technology.

China reports big data miss in July, stops releasing youth unemployment numbers

China reported July data that broadly missed expectations. The National Bureau of Statistics report also did not include the unemployment figure for young people, which has soared to record highs in recent months.

China’s economic challenges gather steam as new loans plunge, property fears loom

Credit data for July released Friday showed a slump in demand from businesses and households to borrow money for the future.