Tag: China

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.

China’s annual producer prices sank for a ninth-straight month in June, while consumer prices remain unchanged, official data showed Monday, underscoring the depth of the challenges that beset the world’s second-largest economy in reviving demand and revitalizing growth.

Yellen will discuss with China officials the importance of responsibly managing their bilateral relationship, communicating directly about areas of concern, and working together to address global challenges.

US Treasury secretary Janet Yellen will visit Beijing this week, marking the second trip by a cabinet official to China since ties between the world’s top two economies deteriorated earlier this year.

China’s artificial intelligence stocks fell Wednesday after the Wall Street Journal reported that the U.S. is planning to impose new curbs on shipments of AI chips to China.

Chinese Premier Li Qiang said Tuesday his country was still on track to reach its annual growth target of around 5%.

China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to boost slower auto sales growth.

U.S. Secretary of State Antony Blinken said Monday he failed to revive military-to-military talks with China, despite earlier hopes of reopening that communication channel.

ecretary of State Antony Blinken reiterated the U.S.’ position on its One China policy as he met with China’s leader Xi Jinping Monday, saying it does not support Taiwanese independence and that containing China’s economy was not an American goal.

China and the United States agreed on Monday to try and stabilise their intense rivalry to avoid veering into conflict, but did not announce any major breakthroughs during a rare visit to Beijing by U.S. Secretary of State Antony Blinken.

China is widely expected to cut key lending benchmarks on Tuesday in the first such easing in 10 months, a Reuters survey showed, as authorities seek to shore up a slowing recovery in the world’s second-largest economy.

Economists at Goldman Sachs lowered their forecasts for China’s economy this year as they counted the costs of the country’s disappointing recovery from pandemic-era restrictions.

The People’s Bank of China indicated that it’s serious about getting the world’s second-biggest economy back on track.

China’s economy stumbled in May with industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky post-pandemic recovery.

China’s youth unemployment rose to a record in May, while major data missed expectations, according to data released Thursday by the National Bureau of Statistics.

Weakness in China’s real estate sector could be a drag on the economy for years to come and could even impact countries in the wider region, Wall Street banks have warned.

Inflation in China stayed at low levels in May, as the economy struggles to recover even after its strict Covid lockdown measures lifted late last year.

China’s largest banks cut interest rates for savers on Thursday in a bid to boost growth in an economy where consumption has been slow to recover.

China’s exports fell in May for the first time since February, adding to concerns that growth in the world’s second-largest economy could be faltering.

China’s services activity picked up in May, a private-sector survey showed on Monday, as a rise in new orders shored up a consumption-led economic recovery in the second quarter.