Tag: China

Moody’s Investors Service has a negative outlook for sovereign creditworthiness in Asia-Pacific this year, due to China’s slower economic growth as well as tight funding and geopolitical risks.

China’s economy grew 5.2% in 2023, slightly more than the official target, but the recovery was far shakier than many analysts and investors expected, with a deepening property crisis, mounting deflationary risks and tepid demand casting a pall over the outlook for this year.

Chinese Premier Li Qiang said on Tuesday in Davos the Chinese economy was open for business and highlighted its potential for foreign investment as its vast population becomes rapidly more urban and its middle class is forecast to grow.

Chinese government- and military-linked institutions bought small amounts of Nvidia Corp. semiconductors over the past year, evading export bans implemented by the US, Reuters reported citing tender documents.

Exports rose by 2.3% year on year in U.S. dollar terms last month, more than the 1.7% increase forecast by a Reuters poll.

China removed an official at a government body overseeing its press and publications regulator, five sources who were briefed on the matter said, days after Chinese gaming stocks were hit by proposed rules to curb spending on video games.

A survey of factory managers in China shows manufacturing contracted in December in the latest sign the world’s second-largest economy remains sluggish.

China, the world’s top processor of rare earths, on Thursday banned the export of technology to extract and separate the strategic metals, in a further step towards protecting its dominance in several strategic metals

U.S. Treasury Secretary Janet Yellen underscored her priorities aimed at stabilizing frigid ties between the United States and China late Thursday.

China reported Friday its industrial output expanded at the fastest pace since February 2022 in November, though retail sales growth missed expectations, pointing to a patchy recovery in the world’s second-largest economy.

Alibaba, JD.com and other Chinese tech stocks were rising early Friday as investors digested a fresh stimulus boost and weighed up the prospect of further measures.  

China’s top leaders vowed to boost domestic demand and tackle the country’s real estate crisis following a key meeting that laid out economic priorities for the new year.

China’s consumer prices fell the fastest in three years in November, while factory-gate deflation deepened, suggesting heightening deflationary pressure as weak domestic demand casts doubts over the economic recovery.

China’s Politburo said Friday that it would continue to implement “proactive” fiscal policies and “prudent” monetary policies next year, in a bid to bolster domestic demand.

Moody’s Investors Service cut its outlook for eight Chinese banks to negative from stable.

China’s exports unexpectedly ticked higher in November, while imports fell slightly from a year ago, according to customs agency data released Thursday.

Dec 5 (Reuters) – Ratings agency Moody’s cut its outlook on China’s government credit ratings to negative from stable on Tuesday, in the latest sign of mounting global concern over the impact of surging local government debt and a deepening property crisis on the world’s second-largest economy.

China official manufacturing PMI weakened to 49.4 in November from 49.5 in October, vs median forecast for 49.7.

BEIJING, Nov 27 (Reuters) – Profits at China’s industrial firms extended gains for a third month in October, albeit at a slower pace, suggesting more policy support from Beijing is needed to help shore up growth in the world’s second-largest economy.

SHANGHAI, Nov 21 (Reuters) – China’s major state-owned banks have been active in the currency market this week, buying the yuan and helping hasten its recovery against a broadly weaker U.S. dollar, two sources told Reuters on Tuesday.