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 […]
Category: Economics & Policy
On the second day of the National People’s Congress (NPC) the country’s growth target of 4.5-5% was formally ratified. The figure was first proposed during the party’s plenum in October, the lowest growth target set by Beijing since 1991. A lot has changed since the target was proposed by the party back then. The current […]
The US International Trade Commission said on Thursday it would investigate the economic impact of revoking China’s permanent normal trade status over a six-year period, reports Reuters. The move would likely increase tariffs on Chinese imports. The USITC, which studies trade and competitiveness matters and rules on anti-dumping and anti-subsidy trade cases, said its report would focus on […]
China’s consumer spending rose 8.6% year-on-year in the first four days of this year’s Chinese New Year holiday, reports Caixin. This was backed by an extended holiday and fresh government stimulus that lifted outlays on services and technology. The increase offers a sign of resilience as policymakers roll out renewed support measures, including a consumer incentive […]
This year’s Chinese New Year holiday period saw both an 8.2% increase in domestic travel, and an 8.6% increase in consumer spending compared to the year before, according to official figures. The holiday for this year was increased from eight to nine days, and a range of stimulus policies were implemented by the Ministry of […]