BEIJING — China has not fully recovered from the shock of the coronavirus pandemic, business leaders said in a survey by the China Beige Book released Tuesday. After about a year since Covid-19 first emerged in the Chinese city of Wuhan, roughly two-thirds of executives polled by the third-party firm said they don’t expect sales, […] Read more
Chinese leaders warned at an important economic planning meeting last week that growth still faces many challenges. While the rest of the world still struggles with the shock of the coronavirus pandemic, China is set to be the only major economy to expand this year. President Xi Jinping, Premier Li Keqiang and other leaders who attended […] Read more
The rollout of Covid-19 vaccines in Singapore will help the economy to recover — but will not take it back to what it was before the pandemic, the country’s Minister for Foreign Affairs Vivian Balakrishnan said on Thursday. “I think we should talk about a new normal. So yes, there will be recovery in […] Read more
Hope is fading for a significant change in U.S.-China relations under President-elect Joe Biden, Alicia Garcia-Herrero, Natixis’ chief economist for Asia-Pacific, said on Thursday. Relations between the U.S. and China have spiraled downward under President Donald Trump’s administration in the last four years. Ahead of the election, Natixis economists had hoped the two countries could return to better […] Read more
Chinese e-commerce firm JD.com said it has become the first online platform to accept the country’s digital currency. The announcement on Saturday comes as part of another real-world major trial for the digital yuan in Suzhou, a city that’s about 65 miles west of Shanghai. A total of 20 million yuan ($3 million) will be up for […] Read more
With the recent spate of bond defaults in China, investors should be looking to put their money into Chinese central government bonds which are “unlikely to default,” according to an economist from research firm TS Lombard. Last month, a series of high-profile defaults involving state-owned companies in China — normally a safe bet for investors — jolted […] Read more
China’s government made two significant appointments over the weekend, assigning two former bankers to key positions that underscore President Xi Jinping’s policy priorities for the next few years, as the nation’s economic growth loses its breakneck pace, while the financial markets must prepare for greater foreign competition and liberalisation. The government promoted Yi Huiman, chairman […] Read more
China’s young billionaires amassed a combined fortune of more than $223 billion this year as the country enjoyed its fastest year of wealth accumulation, even as the world battles its worst economic crisis in decades. China had 60 billionaires below the age of 40 this year, according to the latest Hurun Rich List released last week. […] Read more
Chinese President Xi Jinping is about to deepen his mark on what could soon be the world’s largest economy. The central committee of China’s ruling Communist Party, led by Xi, is set to meet in Beijing from Oct. 26 to 29 to discuss a proposal for national development for the next five years — from 2021 to […] Read more
China’s economy recovered further from the coronavirus in the third quarter, according to data released Monday by the National Bureau of Statistics. The world’s second-largest economy reported third-quarter GDP growth on the low end of expectations, up 4.9% from a year ago. That brings growth for the first three quarters of the year to 0.7% […] Read more
