The slump in Chinese industrial firms’ profits deepened in the first two months of 2023, weighed by lacklustre demand and stubbornly high costs as the world’s second-largest economy struggled to fully shake the long-term effects of COVID, reports Reuters. The sharp 22.9% contraction followed a 4.0% fall in industrial profits for the whole of 2022, […]
Category: Economics & Trade
Brussels is to impose curbs on imports of Chinese green technologies, demoting bidders for public contracts and making it harder for buyers to access subsidies, reports the Financial Times. The measures are expected to be unveiled by the European Commission on Thursday as part of a more aggressive drive to tackle China’s dominance in supplying […]
China reported unexpectedly strong credit growth for February, with money supply expanding at the fastest pace in nearly 7 years, as Beijing looks to support a nascent economic recovery amid rising global risks, reports Reuters. The government’s lifting of pandemic curbs in December and other measures have started to rekindle credit demand in the world’s […]
Categories
China inflation rate slows
Inflationary pressures in the world’s second-largest economy eased more than expected in February after a post-reopening spike, a sign of the limited boost from the lifting of strict “zero-COVID” curbs for domestic demand, reports The Wall Street Journal. Consumer prices gained 1% in February compared with a year earlier, slower than the 2.1% increase recorded […]
China’s exports for the January-February period fell, pointing to continued weakness in foreign demand and backing government concerns that a global slowdown will hamper the country’s recovery from pandemic-era damage, reports Reuters. Imports dropped, too, government data showed on Tuesday, also reflecting weak foreign demand, since the country brings in parts and materials from abroad […]