Page 3 - China Gdp

China's exports grow 7.6% in May, beat expectations amid trade tensions

China's exports for May beat analyst expectations despite trade tensions, though imports shrank, according to customs data released Friday. Exports jumped 7.6% in May from the same time last year to USD 302.35 billion. Imports however rose by 1.8% to USD 219.73 billion, missing estimates of about 4% growth. The uptick in exports is also partly due to a lower base from the same period last year, when exports declined 7.5%. In comparison, imports grew by 1.5% in April compared to the same period last year while April imports rose by 8.4%. Strong exports also saw China's trade surplus widen to USD 82.62 billion, up from April's USD 72.35 billion. China's growth in exports come as it faces escalated trade tensions with the US and Europe. The US is ramping up tariffs on China-made electric cars while Europe is considering levying similar tariffs. Factory activity in China slowed more than expected in May, according to an official survey released last week. The manufacturing purchasin

All you know need to know about China's affordable housing policy

Authorities hope that over time, improving access to affordable housing could provide utility to some of the excess construction undertaken in the boom years

China factory activity contracts in May in surprise hit to growth outlook

The official manufacturing purchasing manager index fell to 49.5 in May, the National Bureau of Statistics said on Friday. That compares with a reading of 50.4 in April

China plans to cut CO2 emission in key sectors by 1% of 2023 level

The plan said China would 'strictly' control coal consumption, 'reasonably' control petroleum consumption and promote use of biofuel and sustainable aviation fuel

China considers record penalty for PwC over Evergrande auditing work

PwC has been under the spotlight after China launched one of the biggest investigations of financial fraud in history involving developer Evergrande

Why is Nomura betting big on RIL, BEL, Exide, Sona BLW and Uno Minda?

As corporate capex picks up, it expects the Indian corporate sector to sustain 12 - 17 per cent earnings growth in the medium-term

China accelerates construction of automated, efficient, intelligent ports

/ -- A report from People's Daily: As one steps into the fully automated container terminal at Rizhao Port in east China's Shandong province, a remarkable sight unfolds - remote-controlled quay cranes precisely grabbing and releasing containers, automated rail-mounted cranes and unmanned container trucks working in coordination... Human operators are scarcely visible at the terminal, yet operations run smoothly and efficiently. As the first side-loading and parallel-layout fully automated container terminal in the world, the terminal employs China's BeiDou Navigation Satellite System and 5G technology, and has launched six domestically developed and industry-first innovative technologies, including a scheduling system for autonomous container trucks. The pioneering facility has made remarkable progress since it was put into use on Oct. 9, 2021 - its single-crane operational efficiency improved by 50 percent and overall costs lowered by 70 percent. Besides, the single-crane handling .

Development path for India will not be the same as China's: CBC chairman

As India moves towards the mission of Viksit Bharat' and becoming a developed country by 2047, the development path for India will not be the same as that of China as they have a different environment and capabilities, Chairman of the Capacity Building Commission Adil Zainulbhai has said. Prime Minister Narendra Modi has laid out a vision of what India will be as a developed country and there is a lot of thinking in terms of we want this to be different, Zainulbhai said. The development path for India will not be the same as the development path for China. So for every article that compares China's growth with India's growth, India's growth for the next 25 years will not follow the China model. Because we can't, it's a different environment and India's capabilities are different, he said. According to the World Bank, China's strong growth has been based on investment and export-oriented manufacturing, an approach that has largely reached its limits, and has led to economic, social,

Will increase production to meet demand, deliver 120K EVs: Xiaomi

In China, Xiaomi's largest market for its smartphone business, shipments rose 8.6%

What is China doing to support its property market? All you need to know

China had 391 million square meters (4.2 billion square feet) of completed and unsold homes at the end of April, equivalent to 6.6 Manhattans, official data show

Wealthy self-exiled Chinese bizman goes on trial in $1 bn fraud scheme

A wealthy Chinese businessman who left China a decade ago and became a U.S.-based outspoken critic of his homeland's Communist Party went on trial in New York on Wednesday for what prosecutors say were multiple frauds that cheated hundreds of thousands of people worldwide of over $1 billion. Guo Wengui, 57, once believed to be among the richest people in China, sat with his lawyers in Manhattan federal court as jury selection began for a trial projected to last seven weeks. He pleaded not guilty after his March 2023 arrest for what prosecutors say was a five-year fraud scheme that began in 2018. Judge Analisa Torres told dozens of prospective jurors crowded into a courtroom that they were being considered for a jury that will decide the fate of 12 criminal charges alleging that Guo operated four fraudulent investment schemes. By lunchtime, half of them had been dismissed after they provided reasons why a lengthy trial would create a hardship. Still, it was likely that opening ...

The East wind blows harder

The global power balance is shifting as China and Russia assert dominance in technology and diplomacy

China's fuel oil imports surges 10% to 2.93 million MT, highest since 2020

The import volumes included purchases under ordinary trade, which are subject to import duty and consumption tax, as well as imports into bonded storage

China to announce new measures to fix its property crisis, spur growth

Housing prices in China slumped in the first four months of the year, although factory output rose nearly 7%, according to data released Friday, as the country prepares to announce fresh measures to reinvigorate its ailing property industry. Officials of the National Bureau of Statistics acknowledged that domestic demand spending by consumers and businesses remained insufficient and said the government was considering further ways to revitalize the property industry after housing prices sank 9.8% in January-April from a year earlier. Liu Aihua, spokesperson for the bureau, said that in keeping with policies set by the Communist Party leadership, there was a need to find ways to balance supply and demand, meet public expectations for high-quality housing and seize the opportunity to build a new model of high-quality development of the real estate sector. The State Council, China's Cabinet, said it would hold a news conference later Friday focusing on the property industry. China's

China's April industrial output rises 6.7% as manufacturing gathers pace

However, retail sales, a gauge of consumption, rose 2.3% in April, slowing from a 3.1% increase in March

China to kick off long-awaited $138 bn stimulus bond issues this week

Market participants have been waiting for weeks for details of the issuance pipeline of these special treasury bonds

China's exports and imports return to growth, signalling demand recovery

Shipments from China grew 1.5% year-on-year last month

Europe, US companies back India for derisking from China: Survey

The other key emerging markets, the survey said, are southeast Asia, where 60 per cent of the respondents were willing to put in 50 per cent more investment in the next three years

China's services activity eases in April but still solid: Caixin PMI

Caixin/S&P Global services purchasing managers' index (PMI) eased to 52.5 from a 52.7 in March, remaining in expansionary territory for the 16th straight month

Strained Chinese cities unable to raise funds to pay home buying subsidies

The property market accounted for about a quarter of China's economic activity at its peak