China’s economic activity in construction, manufacturing, and services slowed more than expected in November, hobbled by continuing, widespread anti-COVID lockdowns, an unresolved financial crisis in the real estate sector, and fewer orders for the country’s factory output.
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SPOTLIGHT: CHINA
Shops and warehouses in the U.S. and Europe are overstocked with inventory, causing orders for new goods from China’s factories to plunge by as much as 50 percent last month, according to the Financial Times.
SPOTLIGHT: CHINA
In dollar terms, the value of China’s exports in October fell 0.3 percent, year on year, falling far short of the 4.3-percent increase that analysts had predicted, due to the U.S. and European Union buying less.
SPOTLIGHT: CHINA
China continues its strict zero-tolerance policy of anti-COVID lockdowns as new closures closeted 200 million people in 28 cities as of 24 October, according to The Wall Street Journal.
SPOTLIGHT: CHINA
For the first time since 1990, China’s economic production this year will be less than the rest of Asia’s, the World Bank has predicted.
SPOTLIGHT: CHINA
EUROPEAN COMPANIES CUT BACK OPERATIONS IN CHINA European businesses are having to “reduce, localize, and silo” their work in China because of the country’s deteriorating climate for investment, according to a glum report from the European Union (EU) Chamber of Commerce in China. The report—the group’s “most dark” since its founding in 2000, Chamber president...
SPOTLIGHT: CHINA
CHINA’S ECONOMIC DATA PAINTS MIXED PICTURE On 16 September, China’s National Bureau of Statistics released data showing that home prices continue to fall and consumer spending remains relatively feeble. In contrast, new jobs were added and infrastructure investment, a tried and true means for government agencies to goose the economy, increased. Across 70 major cities,...
SPOTLIGHT: CHINA
CHINA SOLIDIFYING ITS POSITION AS MANUFACTURER TO THE WORLD Despite corporations’ new determination to bring supply chains geographically closer to their factories, China is likely to continue to dominate global manufacturing, The Wall Street Journal reported. China’s share of global factory output edged up from 13 percent in 2019 to 15 percent post-COVID and probably...
SPOTLIGHT: CHINA
INVESTORS CIRCLE BACK TO CHINA In June, investors put more than $6 billion into 20 international funds focused on Chinese stocks, more than in any month since early 2021, according to Morningstar. Investors are betting on signs that China’s crackdown on its tech sector may be easing and that the worst of the country’s property...
SPOTLIGHT: CHINA
WESTERN INVESTORS FLOCK BACK TO CHINA After China ended its widespread anti-COVID lockdown in early June, foreign investors poured money back into the country’s equity markets in Shanghai and Shenzhen. Exchange-traded funds (ETFs) listed in the U.S. that concentrate on Chinese stocks netted $4 billion of new capital last month, according to Blackrock; Chinese ETFs...