Topic

China's economic recoveryi

This topic charts China's economic recovery as it, in 2023, enters an era of slower growth, along with an ageing and shrinking workforce, weak consumer demand and a property market downturn.

Advertisement
  • Predictions that China would reach the upper echelon of national incomes have yet to come true – and the gap has only widened in recent years
  • Some analysts argue the goal can still be met, while others say even if it cannot be done it might not be as crucial as previously thought
videocam

Yum China Holdings, which owns the KFC and Pizza Hut restaurant chains in mainland China, plans to open more stores in ‘untapped’ parts of the country where it hopes its low-price strategy will appeal to vast numbers of less affluent customers.

videocam

China’s Communist Party will hold one of its most-watched meetings in July, as analysts predict the political body will lay out reforms to aid in the country’s economic recovery.

videocam
Advertisement
Advertisement

After a stretch of trials in select Chinese cities, there is rising urgency to rapidly expand use of the underperforming retirement accounts as demographic challenges mount.

China’s official manufacturing purchasing managers’ index (PMI) remained in expansion territory for a second consecutive month in April, although the pace slowed as officials admitted that manufacturers are facing higher costs.

Gold purchases in China rose by 5.9 per cent in the first quarter compared with the same period in 2023, as consumers seek security in ‘the only safe asset’, analysts said.

Austrian crystal maker Swarovski has launched a lab-grown diamonds collection in China, in a sign that it has confidence in its second-largest market by sales despite some economic turbulence.

Creating enough jobs for its young people remains a daunting challenge for Beijing, with the key private sector struggling to shake off scars of the coronavirus pandemic.

videocam

Air China will start to add international flights from Sunday, while bookings ahead of May Day holiday have surged, but flights to US are having a sluggish recovery.

China’s yuan has lost more value against the US dollar as interest rate cuts have yet to materialise, leading exporters to find whatever alternative assets they can until exchange differentials subside.

videocam

China is reviewing amendments to laws governing statistics and accounting, with Beijing eager to clamp down on inflated or manipulated economic statistics and uphold rules in the world’s second-largest financial market.

The People’s Bank of China has indicated its approval for trading treasury bonds on the secondary market, signalling more robust action to boost liquidity and fuel growth is no longer out of the question.

videocam

Chinese farmers are keeping the fewest pigs for breeding since 2020, raising hopes of sustained profitability after years of losses. But the turnaround may not speak to the broader economy, analysts say.

videocam

Former government adviser says Chinese officials must ‘have the foresight to make good predictions’ amid China’s new quality productive forces strategy shift.

videocam

China could face a third wave of corporate bond defaults, induced by high financing costs, slow economic growth and tighter government policies, S&P analysts said. Local government financing vehicles may be the weakest link.

videocam

Foreign buyers have returned to China’s largest trade exhibition, drawn by the array of new energy vehicles and other green products on offer at the Canton Fair.

videocam

Despite its attempts to woo back foreign investment, China has yet to see a hoped-for return of overseas capital as enterprises express hesitation to jump back into the fray.

In this week’s issue of the Global Impact newsletter, we take the temperature of US-China relations at a difficult time for Beijing as it seeks to solidify the recovery of the world’s second-largest economy.

Beijing’s prudent monetary moves and an emphasis on restructuring local government debt have sparked debate over how long it will take policymakers to ‘walk it off’.

China must emphasise modern services in its push for new productive forces, Sheng Songcheng says, flagging the need for a hi-tech, high-quality service sector.

Rainfall in the southwest province of Yunnan, which is one of China’s leading hydropower producers, fell by 42.3 per cent compared to normal levels this year.

Germany’s Allianz Global Investors looks forward to tapping mainland China’s ‘vast potential and steady growth’ after getting the green light to operate an onshore fund management company there, says regional head.

videocam

Asia official with Washington-based agency points to the PBOC’s policy moves, as well as China’s infrastructure spending, as economic bellwethers in the face of headwinds.

videocam

China’s coming May Day holiday already has the makings of a major tourism rush, with early bookings exceeding pre-pandemic levels and the travel boom likely to fuel a much-desired round of consumption.

videocam