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.

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.

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

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 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