Tag: China

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.

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’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 Gina Raimondo has called on China to improve the predictability of the business environment for American companies in the country.

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.

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.

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 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’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 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.

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.