China’s economy runs the risk of failing as the Communist Party takes power. Huawei is a giant of China’s telecommunication and consumer electronics industry. Cai sees the incident as symptomatic of a new consumer nationalism. When 29-year-old accountant Cai Yutong pulled out her iPhone 13 at a Starbucks on the outskirts of Shanghai, her colleague … Read more
Profits at China’s industrial firms shrank at a slower pace in May following a big slump in April. 19 curbs still weighed on factory production and squeezed factory margins. Industrial profits fell 6.5% from a year earlier, less than 8.5%, according to official figures. Industrial output in the commercial hub of Shanghai fell for a … Read more
BEIJING: China’s GDP has expanded at 8.1 per cent in 2021, growing the fastest in nearly a decade and landing well above the government’s annual target of achieving a growth rate above 6 per cent. The robust expansion, which beats the market expectation and eclipses most of other major economies in two-year terms, spells out … Read more
BEIJING: China’s economy posted stable growth in 2021 despite challenges including sporadic epidemic resurgences and a complicated external environment, official data showed on Monday. The country’s gross domestic product (GDP) expanded 8.1 per cent year on year to 114.37 trillion yuan (about $18 trillion) last year, the National Bureau of Statistics (NBS) said. The pace … Read more
BEIJING: China’s economy expanded at its fastest pace for 10 years in 2021, according to an AFP poll of analysts, but its strong recovery from the Covid-19 pandemic is threatened by Omicron and a property sector slowdown. The eight per cent growth would be well above the government’s target of more than six per cent, and comes on … Read more
BEIJING: Chinese consumer spending grew at a slower-than-expected pace in November, data released on Wednesday showed, with analysts warning that an uptick in coronavirus cases was dampening sentiment and adding to questions over a rebound in the world’s second-largest economy. China’s economy bounced back quickly from the pandemic after authorities contained Covid-19 with strict border controls … Read more
ISLAMABAD: The Asian Development Bank (ADB) on Tuesday projected higher inflation in Pakistan, compared with other regional countries and revised down the economic growth outlook for developing Asia slightly to 7 per cent this year and 5.3 per cent next year. The ADB revised the projections after renewed outbreaks of the coronavirus (Covid-19) led to … Read more
BEIJING: As Chinese real estate behemoth Evergrande reportedly prepares for a government-backed mega-restructure, here is an explainer on what Beijing’s bid to limit a contagion could mean for the wider economy: What happened to Evergrande? The Chinese government sparked a crisis in the property industry when it launched a drive last year to curb excessive debt … Read more
BEIJING: China’s economy is expected to grow around 5.3 per cent in 2022, bringing the average annual growth rate forecast for 2020/22 to 5.2 per cent, the Chinese Academy of Social Sciences (CASS), a top government think tank, said on Monday. The advisers to the government will recommend that the authorities set a 2022 economic … Read more
China’s economy continues to recover from the consequences of the coronavirus pandemic. Chinese economy witnessed a growth of 4.9% between July and September, compared to the same quarter last year. However, economists expected 5.2%. The country’s economy shrank by 6.8% in the first three months of this year as the country saw a nationwide lockdown … Read more
