Tag: China

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.

China’s car sales grew 16.6% in November from a year earlier, its fastest pace since January, as government-subsidised auto trade-ins gather steam near the end of the year.

China stocks gained Friday ahead of a key policy meeting reportedly set for next week, while other Asia markets tracked Wall Street declines overnight.

China announced Tuesday it is banning exports to the United States of gallium, germanium, antimony and other key high-tech materials with potential military applications, as a general principle, lashing back at U.S. limits on semiconductor-related exports.

China’s manufacturing activity continued to expand among smaller manufacturers in November, signaling that the country’s recent stimulus efforts have already helped to lift certain sectors of its ailing economy, according to a private survey released Monday.

China warned on Thursday it would take “necessary actions” to protect Chinese firms if the U.S. escalated chip control measures, following reports that the Biden administration could unveil new export restrictions as soon as this week.

China on Friday reported strong growth in retail sales and a decline in real estate investment in October, signaling that the country’s recent stimulus push has already worked to bolster certain sectors of its flagging economy.

China has approved a 10 trillion yuan ($1.4 trillion) plan to bolster its ailing economy by allowing local governments to refinance their debt, unveiling additional stimulus measures to counter a potentially volatile growth path marked by the impending return of Donald Trump to the White House.

Glimmers of possible green shoots emerged in October in several economic China Beige Book tracks but the private research firm said on Wednesday that the country’s property market didn’t exhibit clear signs of improvement despite Beijing’s latest policy measures.

The European Union has decided to increase tariffs on Chinese-built electric vehicles to as much as 45.3% at the end of its highest profile investigation that has divided Europe and prompted retaliation from Beijing.

Chinese electric vehicle maker stocks rose in Hong Kong after a report that the government will take measures to support the sector.

China’s parliament will hold a highly anticipated meeting Nov. 4 to 8, state media said Friday, according to a CNBC translation.

The one-year loan prime rate (LPR) has been cut to 3.1%, while the five-year LPR has been trimmed to 3.6%, the People’s Bank of China (PBOC) said.