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Workers labor in a factory of automotive aluminium wheel hubs in Binzhou city in east China’s Shandong province on May 27, 2024. China’s manufacturing activity unexpectedly fell in May, keeping alive calls for fresh stimulus as a protracted property crisis in the world’s second-largest economy continues to weigh on business, consumer and investor confidence. The…
Read More “China factory activity dips as property pain persists” »
Cautious approach: Banks are reluctant to lend to housing projects fearing more bad loans. File | Photo Credit: Reuters When China’s local governments began compiling a “whitelist” of housing projects for loans earlier this year, troubled developers hoped it would open a spigot of credit for a sector that remains a major stumbling block to…
Read More “China’s property ‘whitelist’ lifeline stutters amid sector gloom” »
Factory workers are seen on an assembly line at a manufacturing plant for automobile air conditioners in China. File | Photo Credit: AP Manufacturing in China expanded in March after contracting for five consecutive months, according to an official survey of factory managers released on March 31, suggesting a rebound in industrial activities following the…
Read More “China’s manufacturing activity expands in March after a 5-month lull” »
More auctions in the future will distract would-be buyers from the regular market, which could weigh on prices for both new and second-hand homes. AFP | Photo Credit: AFP Chased by debt collectors over a mortgage delinquency in a southern Chinese city, former finance worker Lei Xiaoyu no longer answers her phone as she tries to…
Read More “Rising mortgage defaults bring more pain to Chinese households” »
A Chinese paramilitary police officer walks at Tiananmen Square in Beijing on March 3, 2024, ahead of the country’s annual legislative meetings known as the “Two Sessions”. | Photo Credit: AFP China’s annual political conclave kicks off in Beijing on March 4, with officials saying the flagging economy and youth unemployment are of “great concern”…
Read More “China’s economy of ‘great concern’ as annual political meeting to kick off” »
All major decisions will have been made weeks before in closed-door meetings (File) Beijing, China: China’s annual political conclave kicks off in Beijing on Monday, with officials saying the flagging economy and youth unemployment are of “great concern” as they lay out plans for the coming year. Armed police and public security workers are ubiquitous…
Read More “China’s Economy Causing Concern As Annual Political Meeting Approaches” »
The young Chinese man looked lost and exhausted when Border Patrol agents left him at a transit station. Deng Guangsen, 28, had spent the last two months traveling to San Diego from the southern Chinese province of Guangdong, through seven countries on plane, bus and foot, including traversing Panama’s dangerous Darién Gap jungle. “I feel…
Read More “Chinese migrants take a perilous path to the U.S. amid rising economic crisis” »
China’s growth is expected to fall down in 2024, as per World Bank. (Representational Photo) The World Bank has said that east Asia’s developing economies are expected to expand at one of the lowest rates in five decades, blaming the gloomy outlook to slowdown in China. The Financial Times said in a report that the…
Read More “World Bank Downgrades East Asia’s Growth Forecast Due To Slowdown In China: Report” »
Chinese leader Xi Jinping has called for patience in a speech released as the ruling Communist Party tries to reverse a deepening economic slump and said Western countries are “increasingly in trouble” because of their materialism and “spiritual poverty.” File | Photo Credit: AP China’s economy, the world’s second-largest, is now in deep distress and…
Read More “Chinese economy in distress, its model is ‘broken’: report” »