China Provinces Promise to Meet GDP Targets Despite Falling Growth
Several Chinese provinces pledged to meet their growth targets for the year. Top leaders downplayed the national target of “around 5.5 percent” after repeated Covid-19 outbreaks and a housing market slump. At least 10 local governments said they will strive to reach their gross domestic product targets. At least seven others said they will keep […]
China’s Real Estate Sector Remains the Biggest Drag on the Economy
China’s housing slowdown showed little sign of improvement in the three months to June. Its output contracting for the fourth straight quarter and clouding growth prospects for the rest of the year. Output in the real estate industry, a key economic contributor, contracted 7% in the second quarter from a year earlier. Found in the […]
Hong Kong stock market sees uncertain future as China grows
Under Chinese rule, Hong Kong’s stock market has more than tripled. That’s still below Shanghai. Hong Kong’s benchmark stock index has earned a total return of more than 230 percent since delivery in July 1997. That compares with 320% of the Shanghai Composite Index and 580% of the S&P 500 Index in the United States. […]
IMF warns of risks of slowing Covid vaccination rates in China
The International Monetary Fund (IMF) called on China. The call is to speed up its coronavirus vaccination program. IMF gives a warning that the sharp slowdown in the pace of new doses administered. As a result, this administration could undermine the recovery in consumer spending in the economy. At the current rate, providing three doses […]
China Scolds Sinopec after second Fatal Accident
Chinese regulators summoned Sinopec Group executives to a meeting on Monday. The meeting was held after the oil giant suffered its second fatal accident this month. Meeting said the episodes had “seriously affected people’s sense of safety.” Officials told Sinopec that the accidents “had a bad influence” on the public. Accidents did not meet the […]