Tag: China

China will launch an investigation into U.S. government subsidies to its semiconductor sector over alleged harm caused to Chinese mature node chipmakers, the commerce ministry said on Thursday.

Five of China’s most important provinces said they plan to grow at or above 5% this year, signs that the country will set an ambitious national target despite growing trade headwinds.

The U.S. has finalized a ban on the use of Chinese and Russian hardware and software in internet-connected vehicles on U.S. roads, an outgoing salvo by the Biden administration to prevent hacking and misuse of data by foreign adversaries.

China’s exports gained momentum in December, with imports also showing recovery, though strength at the year-end was in part fueled by factories rushing inventory overseas as they braced for heightened trade risks under a Trump presidency.

China’s consumer price inflation in December slipped to 0.1% year on year, data from the National Bureau of Statistics showed Thursday, stoking deflation concerns.

China’s factory activity grew in December but at a slower-than-expected pace, as overall sales were dampened by falling export orders amid concerns over the trade outlook, a private-sector survey showed on Thursday.

The U.S. Treasury Department said a state-sponsored Chinese hacking operation was able to access third-party software to tap into desktop computers of Treasury employees in what the department is calling “a major incident.”

China has awarded a range of civil servants across the nation their first significant pay rise in years, according to people familiar with the matter, as policymakers try to boost morale and spur spending.

China’s 2024 gross domestic product (GDP) is expected to exceed 130 trillion yuan ($17.8 trillion), President Xi Jinping said on Tuesday in his New Year’s address, adding that the country would implement more proactive policies to promote growth in 2025.

China’s factory activity growth in December missed analysts’ expectations Tuesday, signaling that Beijing’s stimulus measures were not sufficient to meaningfully boost the country’s ailing economy.

In the weeks since the election, China has flaunted the ways in which it could hit back at the U.S. in the event of a new trade war with the U.S., including everything from choking off the metals needed for everyday products to punishing American companies that do business in China.

The World Bank raised on Thursday its forecast for China’s economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year.

China will ramp up fiscal support for consumption next year by raising pensions and medical insurance subsidies for residents as well as expanding consumer goods trade-ins, its finance ministry said on Tuesday.

Chinese leaders agreed last week to raise the budget deficit to 4% of gross domestic product (GDP) next year, its highest on record, while maintaining an economic growth target of around 5%, two sources with knowledge of the matter said.

China’s industrial output growth quickened slightly in November, while retail sales disappointed, keeping alive calls for Beijing to ramp up consumer-focused stimulus as policymakers brace for more U.S. trade tariffs under a second Trump administration

President Xi Jinping sent a strong signal this week that Beijing was ready to work with U.S. President-elect Donald Trump to resolve trade disputes amid risks of a potential trade war.

China affirmed its recent policy shifts and stressed plans to boost growth in a high-level economic planning meeting that wrapped up Thursday, according to a daily evening news broadcast on state-run CCTV.

China’s exports slowed sharply and imports unexpectedly shrank in November, in a worrying sign for the world’s No. 2 economy as Donald Trump’s imminent return to the White House brings fresh trade risks.

China’s consumer inflation fell to a five-month low in November and missed expectations, climbing 0.2% from a year ago, according to data from the National Bureau of Statistics released Monday.

China’s leaders on Monday pledged “more proactive” fiscal measures and “moderately” looser monetary policy next year to boost domestic consumption, according to an official readout of a key policy meeting that outlined upcoming economic priorities.