Tag: China

China’s factory activity shrank faster than expected in May on weakening demand, heaping pressure on policymakers to shore up a patchy economic recovery and knocking Asian financial markets lower.

China’s much-vaunted economic rebound after its emergence from strict zero-Covid lockdown measures has yet to fully materialize, prompting some economists to speculate that further fiscal stimulus or monetary policy easing could be coming down the pipeline.

Fewer than 6% of U.S. flights to and from mainland China that existed in 2019 have resumed, according to a Nomura report.

A private jet used by Tesla CEO Elon Musk has arrived in Beijing, according to a Reuters witness.

China’s much-vaunted economic rebound after its emergence from strict zero-Covid lockdown measures has yet to fully materialize, prompting some economists to speculate that further fiscal stimulus or monetary policy easing could be coming down the pipeline.

Chinese stocks have slumped this week amid fears of a new wave of Covid-19 cases, which would risk growth in the world’s second-largest economy and test the decision to reopen the country after lockdowns induced a slowdown last year.

Chinese authorities are rushing to push out vaccines to fight an ongoing new wave of coronavirus cases expected to peak in June and infect as many as 65 million people a week, as the new XBB variant of the virus evolves to overcome the immunity built up after China’s abrupt exit from its “zero covid” policy last year.

China’s April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum.

British engine maker Rolls-Royce said the new CEO’s plan to boost the company’s profitability was moving “at pace”, and it was on track to meet 2023 forecasts, buoyed by cost savings and the ongoing travel recovery.

BYD Co Ltd, on Wednesday cut the starting price of its best-selling Seal sedan by 10%, as the Chinese electric vehicle (EV) giant seeks to extend its lead in the world’s largest auto market with lower-priced products.

Wynn Resorts provided more evidence of a strong Macau casino comeback ahead as the company beat earnings and revenue estimates in the first quarter.

China’s passenger vehicle sales rose by 2.1% in April from a month earlier, industry data showed, underscoring a slower pace of growth as the stimulus effect of price cuts and incentives faded.

China’s exports grew 8.5% in April in U.S. dollar terms, marking a second-straight month of growth, while imports fell 7.9% compared with a year ago.