Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery at the world’s second-largest economy from a pandemic slowdown. Following are comments from firms on their China business during the latest reporting season: Procter & Gamble: The Tide detergent maker reported an overall … Read more
China‘s exports tumbled 12.4 per cent in June from a year earlier as demand weakened after central banks raised interest rates to curb inflation. Customs data released Thursday showed imports slid 6.8 per cent. Trade weakness adds to downward pressure on the world’s second-largest economy. Global consumer demand has weakened after the Federal Reserve and … Read more
In the latest attempt to boost consumer spending, China’s largest state-run banks lowered interest rates on deposits this week. The rate cuts, the second such reductions since last year, reflect a growing concern that the world’s second-largest economy has not rebounded as strongly as expected after lifting its restrictive “zero-COVID” measures. Six commercial banks all … Read more
The U.S: President Joe Biden with European Commission Ursula von der Leyen during the G-7 Summit in Japan. | Photo Credit: ANI The story so far: The Trump-era focus of the U.S. to decouple from China is being phased out by a new concept. The U.S. has expressed that it is shifting its policy on … Read more
China reported unexpectedly strong credit growth for February, with money supply expanding at the fastest pace in nearly 7 years, as Beijing looks to support a nascent economic recovery amid rising global risks. The government’s lifting of harsh pandemic curbs in December and other measures have started to rekindle credit demand in the world’s second-largest … Read more
China‘s factory sector grew in February at the fastest pace in more than a decade, a standout in Asia where manufacturing growth stalled elsewhere, while in the euro zone output expanded for the first time since May, surveys showed on Wednesday. Slowing global demand coupled with high inflation and interest rates have hit manufacturers, but … Read more
The world’s top consumer and luxury goods companies have seen sales of everything from cosmetics to condoms grow in China since Beijing ended strict COVID-19 curbs, another sign that the world’s No. 2 economy is reviving after the pandemic. Upbeat comments on Wednesday from Reckitt Benckiser, Nivea-maker Beiersdorf, Moncler and Puma came after data showing … Read more
After three years of quarantines pushed them close to shutting down, restaurant owner Li Meng and his wife are hoping for business to rebound after China rolled back severe anti-virus controls. As sales slowly revive, they face a new challenge: Diners are wary about the country’s wave of infections. On Wednesday night at 8 p.m., … Read more
Shanghai residents visited the waterfront Bund and ate and drank along streets patrolled by police early on Wednesday as people in China’s largest city savoured the easing of its severe two-month COVID-19 lockdown. The lockdown set back the national economy and largely confined millions to their homes, while its ruthless and often chaotic enforcement prompted … Read more
China will broaden its tax credit rebates, postpone social security payments and loan repayments, roll out new investment projects and take other steps to support the economy, state television quoted the cabinet as saying on Monday. Chinese policymakers have pledged to step up support for the world’s second-biggest economy, hit by COVID-19 outbreaks that have … Read more