Tag: China

U.S. President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors including electric vehicles, according to two people familiar with the matter.

China’s customs agency released data Thursday that showed exports rose in-line with expectations in April, while imports surged ahead of forecasts.

China’s services activity expansion slowed a touch amid rising costs, but growth in new orders accelerated and business sentiment rose solidly in a boost to hopes of a sustained economic recovery, a private sector survey showed on Monday.

President Joe Biden is calling on the U.S. Trade Representative to triple the China tariff rate on steel and aluminum imports as he makes the rounds in the key battleground state of Pennsylvania.

On a quarter-on-quarter basis, China’s GDP grew 1.6% in the first quarter, compared to a Reuters poll expectations of 1.4% and a revised fourth quarter expansion of 1.2%.

U.S. Treasury Secretary Janet Yellen on Monday said she would not rule out any measures, including potential tariffs, on China’s green energy exports.

China’s factory activity in March expanded by its strongest pace in more than a year, a private survey showed on Monday, in signs of stabilizing growth in the world’s second-largest economy.

 Chinese regulators are pushing banks to speed up approvals of new loans to cash-starved private property developers, people with knowledge of the matter said, a bid to revive homebuyer sentiment that risks denting lenders’ asset quality.

China has rolled out new guidelines that will phase out U.S. processors in government computers and servers, effectively blocking chips from Intel and AMD, the Financial Times reported on Sunday.

China’s factory output and retail sales beat expectations in the January-February period, marking a solid start for 2024 and offering some relief to policymakers even as weakness in the property sector remains a drag on the economy and confidence.

China’s export and import growth in the January-February period beat forecasts, suggesting global trade is turning a corner in an encouraging signal for policymakers as they try to shore up a stuttering economic recovery.

China stocks were mixed on Tuesday after the government set a 5% target for economic growth this year.

China is set this week to kick off its annual parliamentary meetings, which investors are watching closely for signals on economic stimulus.

A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve, or SPR.

China’s lenders cut the country’s benchmark five-year loan prime rate for the first time since June, extending Beijing’s efforts to revive the country’s anemic property market.

Some 474 million domestic trips were made during the eight-day festival, rising 34.3% year on year, according to data released by the country’s Ministry of Culture and Tourism on Sunday.

China’s consumer prices fell at their steepest pace in more than 14 years in January while producer prices also dropped, ramping up pressure on policymakers to do more to revive an economy low on confidence and facing deflationary risks.

China has ousted the head of its securities watchdog, the official Xinhua news agency said, replacing him with a veteran regulator with a reputation for tough action as policymakers struggle to stabilise the country’s stock markets.

Chinese stocks staged their biggest rally in years Tuesday, after the country’s sovereign wealth fund said it would step up buying shares as officials scramble to draw a line under a three-year market rout.

The official manufacturing purchasing managers’ index rose slightly to 49.2 in January, according to data from the National Bureau of Statistics released Wednesday, in line with the median forecast in a Reuters poll.