Tag: China

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

China’s decision to lift a ban on group tours traveling to the U.S., Japan, South Korea and parts of Europe is great news for luxury stocks.

U.S. moves to ban certain investment in China suggest that Western allies may be learning from national security failings in Russia, analysts told CNBC.

U.S. luxury companies including Michael Kors-owner Capri (CPRI.N) and Estee Lauder (EL.N) will likely record a hit to sales from a slower-than-expected recovery in key market China that likely exacerbated cooling demand in the U.S.

Stocks in China and Hong Kong fell Wednesday as China’s consumer prices slipped into negative territory in July, for the first time in 28 months.

China’s passenger vehicle sales fell for a second month in July, as discounts and government support measures failed to persuade consumers wary of buying cars amid a sputtering economy and a prolonged slump in the housing market.

China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms.

On Friday, the Chinese Commerce Ministry announced it is dropping 80.5% anti-dumping tariffs and countervailing duties on Australian barley from Saturday — more than three years after they were imposed, citing “changes in the Chinese market” it did not further explain.

China’s services activity expanded at a slightly faster pace in July, supported by a jump in business in the summer travel season, a private-sector business survey showed on Thursday, partly offsetting the drag from the weak manufacturing sector.

China’s currency regulators are asking some commercial banks to reduce or postpone their purchases of U.S. dollars in order to slow the yuan’s depreciation, two people with direct knowledge of the matter said.

BEIJING, Aug 1 (Reuters) – Chinese ministries, regulators and the central bank on Tuesday pledged more financing support to small businesses, suggesting an urgency among policymakers to revive the private sector amid a flagging economic recovery.

China’s factory activity contracted for a fourth consecutive month in July, while non-manufacturing activity slowed to its weakest this year as the world’s second-largest economy struggles to revive growth momentum in the wake of soft global demand.

China’s leaders have vowed to spur consumer spending, tackle unemployment and give more support to the ailing property sector as the world’s second-largest economy makes a “tortuous” recovery from the coronavirus pandemic.

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China’s economic planner said Thursday that two new policies for supporting non-state-owned businesses will be launched soon.

China’s cautious consumer confidence spending has been a “a dampener” for its fragile recovery, according to Albert Park, chief economist at the Asian Development Bank.

Fears are growing that China’s economy is tethering on the verge of deflation after another slate of underwhelming economic data provided more evidence of stagnating growth, renewing calls for more meaningful policy intervention.

The 6.3% GDP print for the second quarter marked a 0.8% pace of growth from the first quarter, slower than the 2.2% quarter-on-quarter pace recorded in the first three months of the year.

China’s consumer prices will likely decline in July before recovering, Liu Guoqiang, deputy governor of the People’s Bank of China, told reporters Friday.

Dollar value of China’s exports plunged 12.4% in June from a year ago, a far bigger drop than expectations for a 9.5% decline in a Reuters poll and the 7.5% annual decline in May.

BEIJING/SHANGHAI, July 10 (Reuters) – China’s passenger vehicle sales fell in June, data from the China Passenger Car Association (CPCA) showed on Monday, as a stumbling economic recovery led to more consumer caution on big-ticket spending.