China’s economy expanded by 5.4% in the fourth quarter, surpassing market expectations, as a series of stimulus measures propelled the economy to meet Beijing’s growth target This final-quarter surge helped elevate China’s full-year GDP growth to 5.0% in 2024, with the official target of around 5%. In December 2024, retailRead More →
Hybrid-powered vehicles are becoming more popular than battery-only ones in China, according to latest full-year reports, even as consumers move away from fossil-fuel-only cars. Market leader BYD reported that well over half of the 4.3 million passenger cars it sold in 2024 were hybrid-powered, marking a significant reversal from 2023.Read More →
China has reportedly initiated a probe into Nvidia, the US computer chip manufacturer, over purported breaches of anti-monopoly regulations. The company’s shares fell by over 3% following the announcement, signalling the latest development in the ongoing tech conflict between the U.S. and China over the profitable semiconductor market. Over recentRead More →
The inauguration of Chancay Port in Peru represents a significant development in China-Peru relations and is set to revolutionise trade facilities within Latin America. This $3.5 billion mega port, opened by Chinese President Xi Jinping and Peruvian President Dina Boluarte, is a component of China’s Belt and Road Initiative (BRI)Read More →
China exports reportedly rose by 12.7% year on year to $309.06 billion in October 2024 – the highest jump since March 2023 when they rose 14.8% according to recent data reports. Imports, however, declined by a more-than-expected 2.3% in October, according to customs data. The world’s second-largest economy is facingRead More →
China’s factory activity jumped back into expansion among smaller manufacturers in October 2024, according to a private survey report released on Friday 1st November 2024. In October 2024, the Caixin/S&P Global manufacturing purchasing managers’ index reached 50.3, surpassing the prediction of 49.7. The index stood at 49.3 in September 2024, 50.4Read More →
Apple has returned to the top five smartphone vendors in China’s market during the third quarter, lifted by the release of the iPhone 16, according to data. Apple’s shipment growth remained steady year-on-year in the Q2, securing the company a second-place rank by market share in Q3. Following Apple, HuaweiRead More →
In September 2024, China’s industrial profits fell at the fastest rate since the pandemic of 2020 began, according to China’s National Bureau of Statistics Following a 17.8% decrease in August 2024, profits in September 2024 plummeted by 27.1% from the previous year, reportedly the most significant drop since the 34.9%Read More →
The International Monetary Fund (IMF) has issued a warning about the potential decline of China’s property market while reducing its growth forecast for the world’s second-largest economy. In a report published Tuesday, The IMF has reduced its growth forecast for China this year to 4.8%, which is 0.2 percentage points belowRead More →
China on Monday 21st October 2024 lowered its main benchmark lending rates by 0.25% The People’s Bank of China (PBOC) has announced a reduction in the one-year loan prime rate (LPR) to 3.1% and the five-year LPR to 3.6%. The one-year LPR affects corporate and most household loans in China,Read More →
China’s National Bureau of Statistics announced on Friday that the GDP growth for the third quarter was 4.6% year-on-year, marginally above the 4.5% forecasted by economists. But slightly lower than the second quarter’s year-on-year growth of 4.7%. In terms of quarterly growth, the third quarter experienced a 0.9% increase, whichRead More →
Chinese stocks declined on Tuesday 15th October 2024, contrasting with the broader gains in other Asia markets, which followed record highs reached by the Dow Jones Industrial Average and the S&P 500 on Wall Street The CSI 300 index in Mainland China fell to close at 3,855.99, and the HangRead More →
In September 2024, China witnessed a decline in consumer inflation rates and an intensification of producer price deflation, despite efforts to implement additional stimulus measures aimed at reviving weak demand and stabilizing economic activity The consumer price index (CPI) rose by 0.4% from the previous year, a slowdown from theRead More →
China’s exports increased by 2.4% in September 2024 compared to the previous year when measured in U.S. dollars, and imports saw a rise of 0.3%, customs data showed Monday 14th October 2024 The figures fell short of expectations. China’s exports were predicted to rise by 6% year-on-year in September 2024, measured inRead More →
On Wednesday 9th October 2024, Chinese stocks experienced a sharp decline, with the Shanghai benchmark plummeting by 6.6% Hong Kong’s index fell by 1.5%, in contrast to the mostly positive performance of other global markets. Beijing’s recently detailed economic stimulus plans did not meet the high expectations set after theRead More →
On Friday 4th October 2024, the European Union voted to implement definitive tariffs on battery electric vehicles (BEVs) made in China ‘The European Commission’s proposal to levy definitive countervailing duties on imports of Chinese battery electric vehicles has garnered the requisite support from EU Member States to proceed with theRead More →
Chinese firms are reportedly intensifying their efforts to develop a competitive alternative to Nvidia’s AI chips, as part of Beijing’s ongoing initiative to reduce its reliance on U.S. technology. China faces several challenges that are impeding its technological progress, including U.S. export restrictions that limit domestic semiconductor production. The lackRead More →
Shares of many Chinese property stocks listed in Hong Kong soared to their highest levels in more than a year, propelled by the ongoing stimulus rally in China The real estate sector emerged as the top performer in the Hang Seng Index on Wednesday 2nd October 2024. Chinese stocks experiencedRead More →
Chinese technology stocks, such as the previously underperforming Alibaba, have surged this week, reaching peaks not observed in over a year The stock surge follows the announcement of stimulus measures by China’s central bank to boost the world’s second-largest economy. On Thursday 26th September 2024 in the U.S., Alibaba’s sharesRead More →
Chinese stocks continued to rise following state media reports that China’s top leaders have endorsed the government’s recent measures to bolster their economy. The CSI 300 index in Mainland China continued its rally for a seventh consecutive day, reaching its highest point in about four months, subsequent to a meetingRead More →
Artificial Intelligence (AI) has become a pivotal battleground in the technological race between China and the United States. “AI is expected to become a crucial component of economic and military power in the near future,” Stanford University’s Artificial Intelligence Index Report 2023 stated. Both countries are significantly investing in AIRead More →
August 2024 saw China’s exports increase more than expected however, imports fell short of forecasts Exports expanded by 8.7% in U.S. dollar terms compared to the previous year, while imports saw a marginal increase of 0.5%. The export volume of China’s rare earths decreased by 1% from the previous year,Read More →
On Monday 9th September 2024, China announced that its consumer price index (CPI) increased by 0.6% year-on-year in August 2024, falling short of expectations and due mainly to decreasing costs in transportation, home goods, and rents. The consumer price index was projected to rise by 0.7% year-on-year in August 2024,Read More →
The Biden administration is reportedly implementing new export controls on essential technologies, such as quantum computing and semiconductor materials, in response to China’s progress in the global chip market These controls encompass quantum computers and their components, sophisticated chipmaking tools, semiconductor technologies, certain metal and metal alloy components and software,Read More →
China’s inaugural venture into high-end video gaming has smashed global records, enhancing the industry’s international aspirations despite the gaming restrictions imposed by Beijing. Black Myth: Wukong, an action-adventure game rooted in Chinese mythology, surpassed 10 million units sold just three days following its release on 20th August 2024. A weekRead More →
The U.S. and China recently signed an agreement to cooperate on financial stability. This agreement was part of a meeting of the U.S. – China Financial Working Group held in Shanghai. The discussions were reportedly described as professional, pragmatic, candid, and constructive. The agreement includes measures for both countries toRead More →