China Economy

Li Keqiang tells officials to lower nation's unemployment rate; economists expect China to miss growth target this year

Latest official data showed a contraction in industrial output for the first time since 2020 and a jump in the surveyed jobless rate to 6.1% in April, close to a record

China, in a monthly fixing, lowered the five-year loan prime rate (LPR) by 15 basis points to 4.45%, the biggest reduction since China revamped the mechanism in 2019

"The mainstay of policy this year is fiscal spending and government investment, while the central bank is only playing a supportive role so far," said David Qu, China economist

Investment management Morgan Stanley has forecast that global economic growth would be less than half of 2021 due to the Russia-Ukraine conflict and the surge of Covid-19 in China

Calculations based on International Monetary Fund projections show China's expected average annual contribution to global economic growth through to 2027 at about 29%

Oil prices rose more than $1 a barrel in early Asian trade on Wednesday on hopes of demand recovery in China as the country gradually eases some of its strict Covid measures

China's fiscal revenue dropped 4.8 per cent year on year in the first four months of this year, a new data showed.The country's fiscal revenue amounted to about 7.43 trillion yuan (about 1.1 trillion U.S. dollars) during the period, according to the Ministry of Finance.Excluding the impact of value-added tax (VAT) credit refunds, the fiscal revenue, however, grew 5 per cent from a year earlier.The central government and local governments collected 3.46 trillion yuan and 3.97 trillion yuan in fiscal revenue, down 5.7 per cent and 3.9 per cent, respectively, as per Xinhua News Agency.Tax revenue came in at 6.23 trillion yuan in the January-April period, down 7.6 per cent year on year.Fiscal spending rose 5.9 per cent year on year to 8.09 trillion yuan in the first four months.China started to issue VAT credit refunds on a large scale in April. The total value of such refunds reached about 800 billion yuan last month, as per the media portal.In 2022, tax refunds and cuts are expected to .

About half of the 9,000 biggest industrial enterprises in Shanghai are back at work after controls that shut down most of the city starting in late March eased

Full or partial lockdowns were imposed in major centres across the country in March and April, including the most populous city Shanghai, hitting production and consumption

China kept infection numbers low until early this year with a strategy that shut down cities, but entailed soaring costs

The research comes as WHO chief Tedros Adhanom Ghebreyesus called on China to rethink its strategy.

Amid the COVID-19 induced slowdown, the Chinese economy faces twin challenges of the shrinking job market and an aging population, according to a report

China has decided to provide a loan of 300 million yuan to Sri Lanka amidst the unprecedented economic crisis in the island nation.The total amount of emergency grants provided by China has increased to 500 million Chinese Yuan, which is USD 76 million.The Chinese Embassy in Sri Lanka, in a tweet, said that to "support Sri Lankan people at this trying times, China has decided to provide another 300 million RMB of aid to Sri Lanka for the urgently needed drugs, food and fuels etc., which increases the total emergency grant from China to 500 million RMB (approximately 76 million USD)."Currently, Sri Lanka is grappling with food and electricity shortages, affecting many people. Such an economic crisis has forced Sri Lanka to seek help from its neighboring countries to provide them with basic amenities.While Sri Lanka faces its worst economic crisis since independence, many believe that China's "debt-trap diplomacy" is behind the crisis.China has always kept its interests at the forefront

Fresh Covid outbreaks are spooking global investors who fear shutdowns in China will echo across the world by lowering demand and disrupting supply chains

With the Shanghai lockdown grinding into its fourth week, and similar measures imposed in dozens of smaller cities, the world's largest boom market for electric cars has gone bust

World stocks advanced Friday after Chinese leaders pledged to do more to support the slowing economy as the country weathers its worst outbreaks of COVID-19 since the pandemic began. Germany's DAX gained 1% to 14,120.47 while the CAC 40 in Paris added 0.9% to 6,567.01. Britain's FTSE 100 climbed 0.5% to 7,547.01. The future for the S&P 500 was 0.3% lower while the Dow was almost unchanged. Chinese state media reported that the ruling Communist Party's powerful Politburo agreed at a meeting Friday to step up efforts to boost growth while also curbing coronavirus outbreaks. The party's COVID-zero policies have put pressure on President Xi Jinping and other leaders to counter the blow to the economy from shutdowns aimed at vanquishing the virus. Such restrictions are affecting the world's second-largest economy through disruptions in shipments, manufacturing and other business activity. It is very important to do a good job of economic work and to ensure and improve people's ...

The services industry was already suffering in March, with consumer spending contracting by the most since mid-2020.

China will step up infrastructure construction to boost domestic demand and drive economic growth going forward, state TV reported on Tuesday

China's Premier Li Keqiang issued a third warning about economic growth risks in less than a week, raising concern over businesses as widespread COVID-19 lockdowns disrupt production and spending