Tag: China

China’s exports likely grew more quickly and for a second month in May thanks to improving overseas demand, giving officials some comfort as they navigate numerous challenges at home to shore up an uneven economic recovery.

China’s economy is set to grow 5% this year, after a “strong” first quarter, the International Monetary Fund said on Wednesday, upgrading its earlier forecast of 4.6% expansion though it expects slower growth in the years ahead.

China set up a multibillion-dollar state-backed investment chip fund last week — and one observer says it will likely focus on advanced chips for AI and establishing the entire supply chain.

China reported data Friday that pointed to slower growth on the consumer side while industrial activity remained robust.

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.