The Chinese Communist Party published a list of 60 policy goals after its meeting last week. The goals were broad, such as improving the business environment and focusing on cutting-edge industries, but included no details of how the goals would be met.
China’s manufacturing sector weakened further in June, with the National Bureau of Statistics’ purchasing managers index (PMI) remaining flat from May at 49.5, equaling analysts’ forecasts in a Reuters poll.
The People’s Bank of China is reducing the availability of money to lend, bank governor Pan Gongsheng said in a speech last week at a Shanghai financial conference.
Do what the U.S. says, not what it does.
In May, China’s manufacturing momentum slowed but retail sales jumped more than 50 percent for the month due to a splurge over the May festival week. The property crisis showed no signs of recovery despite Beijing’s recent attempts to revive it.
China lashed out at leaders from the G7 for “baselessly” accusing Beijing of destabilizing the world, from its business relationship with Russia during the Ukraine War to jeopardizing Western economies with oversaturation and a cheap workforce.
China’s exports grew by 7.6 percent in dollar value in May, year on year, beating analysts’ forecasts of 6-percent growth. The figure was better than in any month since April 2023.
Earlier this month, China’s government revealed a plan for state-owned companies to buy some of the millions of unfinished apartments littering the nation and convert them to affordable housing for low- and middle-income households.
Wang Wenbin, China’s Foreign Ministry spokesman, accused the U.K. and the collective West of being the biggest impediment to peace negotiations in Ukraine because of their constant stream of lethal aid to keep the fight going.
Regulators and the AI industry need to protect Americans from the potential dangers of AI, but the country also needs to invest at least $32 billion annually to ensure that China doesn’t surpass the U.S. in advancing AI technology, according to a proposal by a bipartisan group of U.S. senators.