China set its economic growth target for 2026 at 4.5%-5%, a downgrade from the 5% pace achieved last year, reports Reuters, which says the target leaves room for greater, albeit not decisive, efforts to curb industrial overcapacity and rebalance the economy. China also released its 15th five-year plan, and as widely expected, pledged investments in innovation, […]
Category: Brief
China will issue special sovereign bonds to recapitalize some of its largest banks, reports Bloomberg. The move marks an expansion of Beijing’s efforts to fortify the nation’s $69 trillion financial system against a cooling economy and market volatility. A total of RMB 300 billion ($44 billion) worth of special government bonds will be sold this year […]
China set a cautious new climate target for the rest of the decade, reports Bloomberg, which says the goal frustrates hopes for tighter policy that would accelerate the nation’s work to curb emissions. A new goal pledges to cut carbon emissions per unit of GDP by 17% by 2030 and compares to a previous objective to […]
China’s services activity expanded at its fastest pace in 33 months in February, underpinned by firmer demand including a pickup in overseas orders, reports Reutersciting a private-sector survey. The expansion came as rising costs also pushed output prices to their highest in 21 months. The RatingDog China General Services PMI, compiled by S&P Global, rose to […]
Li Shufu, chairman of vehicle manufacturer Geely, has proposed that China promote methanol-powered trucks for medium- and long-distance freight, reports Caixin. He argues they offer a practical way to decarbonize a sector where electric and hydrogen options have struggled to gain traction. Li, a member of the Chinese People’s Political Consultative Conference (CPPCC), submitted the […]