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EV shift:China’s market has stagnated due to the shift to EVs. | Photo Credit: AFP Chinese auto sales slumped in June as the domestic economy remained sluggish, but buoyant exports offset the decline at home, an industry association said Wednesday. Sales in China dropped 7.4 per cent compared to a year earlier to 1.8 million…
Read More “Chinese auto exports surge, partly offsetting a sales slump at home” »
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” »
Analysts are closely watching out for new reforms from Beijing to address deep-seated economic imbalances. | Photo Credit: AFPSTR China should rely more on structural reforms and less on economic stimulus to drive growth this year, Liu Shijin, a policy adviser to the central bank, said on Wednesday. Mr. Liu, a member of People’s Bank…
Read More “China central bank adviser urges structural reforms to spur growth” »
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” »
