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CHINESE ECONOMY NEWS

China’s stimulus bazooka likely to weigh in on battered Indian markets

November 09, 2024 1:22 am

If the third quarter numbers and leading indicators reflect recovery in earnings, the scenario can change with FPIs reducing selling and even turning buyers.

Later, delivering his New Year message from the Great Hall in Beijing on February 8, Xi claimed that his government has “made solid progress” in building a “modern socialist country in all respects”. (File Photo)

Ram Madhav writes: An unchallenged Xi could spell disaster for China’s economy

February 24, 2024 11:07 am

As the economic woes grow, Xi appears to be turning increasingly to Mao. As people suffer from the economic decline, Xi too is resorting to clumsy rhetoric

China's economy grew 4.9 per cent year-over-year in the July-September quarter, beating the 4.5 per cent forecast by analysts but slowing from the 6.3 per cent growth in the previous quarter.

China's economy grows 4.9% in Q3, beats expectations but slows from previous quarter

October 18, 2023 10:34 am

On a quarterly basis, China's economy grew by 1.3 per cent in the third quarter, compared to 0.8 per cent growth in the April-to-June quarter.

Evergrande announced in late September that Chinese regulators said it would be unable to issue new debt due to an investigation into its main unit, throwing its offshore debt restructure plans into disarray.

Evergrande offshore bondholders surprised by debt restructuring regulatory hurdles

October 09, 2023 1:07 pm

China Evergrande Group's offshore bondholder group said on Monday it was surprised by the property developer's recent announcement that its offshore debt restructuring plan failed to meet regulatory requirements.

The prospects of Evergrande's offshore debt restructuring plan, key to its survival, as well as its overall business have been clouded by the criminal investigation into founder and chairman Hui Ka Yan.

Evergrande crisis tests Beijing's fallout management as creditor jitters mount

October 05, 2023 4:23 pm

As developer China Evergrande Group lurched from one crisis to another over the past two years, Beijing avoided directly intervening to rescue what was not too long ago considered one of the country's "too big to fail" enterprises.

China's Country Garden episode has echoes of Evergrande Group, which is trying to restructure more than USD 340 billion owed to banks and bondholders.

China's government tries to defuse economic fears after real estate developer's debt struggle

August 17, 2023 12:12 pm

China's government is trying to reassure jittery homebuyers after a major real estate developer missed a payment on its multibillion-dollar debt, reviving fears about the industry's shaky finances and their impact on the struggling Chinese economy.

China swings into deflation as recovery falters

August 09, 2023 10:44 am

China's consumer price index (CPI) for the month dropped 0.3% year-on-year, the National Bureau of Statistics (NBS) said on Wednesday.

China cuts lending benchmarks for first time in 10 months to support economy

June 20, 2023 9:01 am

The latest monetary easing comes as China's post-pandemic recovery shows signs of losing steam after some initial momentum in the first quarter of this year.

IMF raises Asia's economic forecast, China and India to be key drivers

May 02, 2023 11:37 am

The IMF raised Asia's economic forecast as China's recovery underpinned growth, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes.

Revival of Chinese economy 'complicated' due to growing global competition: Chinese President Xi Jinping

February 17, 2023 5:55 pm

In an article published in the official media on the subject "State of the Country's Economy", Xi said that more efforts should be made to attract and utilise foreign investment.