China's manufacturing industry produced less again in February, marking its fifth consecutive month of contraction.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
China’s stock markets got a boost last week after banks made a larger-than-expected 0.25-percent cut to the five-year loan prime rate against which mortgage loan rates are benchmarked.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
Chinese banks have cut their key mortgage interest rate by a quarter point, the largest single reduction ever, in a desperate attempt to revive the real estate market that, in the past, has accounted for more than 20 percent of the country’s GDP.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
In January, deflation continued to ravage China’s economy, with the consumer price index slipping 0.8 percent year on year. Analysts polled by Reuters had expected a 0.5-percent decline.
SPOTLIGHT: CHINA’S ECONOMIC GLOOM
About 40 percent of asset managers attending a Goldman Sachs conference in Hong Kong last week called Chinese equities “uninvestable,” the Financial Times reported.
SPOTLIGHT: CHINA’S ECONOMIC TURMOIL
The Chinese government is considering pulling about two trillion yuan, equivalent to roughly $278 billion, from offshore accounts of state-owned companies to buy stock in Chinese businesses, Bloomberg reported.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
China’s economy expanded by 5.2 percent in 2023, edging past its 5-percent target, the most modest in more than two decades, according to the country’s statistics office.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
The world’s investment managers no longer see Chinese stocks as essential to their portfolios, according to Bloomberg’s analysis of 14 U.S. pension funds.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
“On the path ahead, winds and rain are the norm” for the Chinese economy, president Xi Jinping told his countrymen in a New Year’s Eve speech.
SPOTLIGHT: CHINA’S ECONOMIC MALAISE
China’s factory output increased 6.6 percent in November, year on year, beating economists’ forecasts. Retail sales jumped 10.1 percent on an annual basis, although they fell short of analysts’ expectations.