China economy - updates

Rappler's latest stories on China economy

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China releases $56 billion to banks in virus response

Apr 03, 2020 - 8:00 PM

The People's Bank of China aims to 'effectively increase stable funding sources' and help reduce the interest rates that enterprises are subject to

This photo taken on March 19, 2020 shows customers lining up to have their temperature taken before entering a bank in Yunmeng county, in Xiaogan City in China's central Hubei province. - China on March 19 marked a major milestone in its battle against the coronavirus pandemic as it recorded zero domestic infections for the first time since the outbreak emerged, but a spike in imported cases threatened its progress. (Photo by STR / AFP) / China OUT

China puts $140 billion towards supporting SMEs

Mar 31, 2020 - 9:25 PM

Chinese authorities will guide smaller banks to lend additional funds to small- and medium-sized enterprises at preferential rates

DESERTED. This photo, taken on February 7, 2020, shows a closed restaurant opposite a section of the Great Wall of China in Huanghuacheng, north of Beijing. Photo by Greg Baker/AFP

World Bank warns China growth could screech to a halt

Mar 31, 2020 - 12:25 PM

The World Bank says the coronavirus pandemic is causing 'an unprecedented global shock, which could bring growth to a halt and could increase poverty' across East Asia and the Pacific

Day labourers wearing face masks hold signs advertising their skills as they wait to get hired for renovation works in Shenyang in China's northeastern Liaoning province on March 27, 2020. (Photo by STR / AFP) / China OUT

China's factory activity rebounds but threat from virus looms

Mar 31, 2020 - 11:40 AM

(UPDATED) Businesses gradually resume work in China, but further challenges loom as the coronavirus causes sluggish external demand

This photo taken on March 30, 2020 shows employees working on a battery production line at a factory in Huaibei in China's eastern Anhui province. - Factory activity in China rebounded in March from a record low, according to official data released on March 31, returning to expansion territory while the coronavirus pandemic continues to devastate the global economy. (Photo by STR / AFP) / China OUT

China slashes rate, pumps $7 billion into market to counter virus

Mar 30, 2020 - 2:55 PM

The People's Bank of China launches more measures to counter the coronavirus pandemic's economic impact

OUT AND ABOUT. People wearing face masks as a preventive measure against COVID-19 visit the Yu Garden in Shanghai on March 23, 2020. Photo by Hector Retamal/AFP

China industrial output contracts for first time in decades

Mar 16, 2020 - 3:15 PM

Industrial production in China shrinks 13.5% in January-February 2020, the first contraction since January 1990

This photo taken on March 14, 2020 shows a worker watching over a machine as it welds aluminium at a factory in Zouping, in China's Shandong province. - China's industrial production, retail sales and investment all contracted in the first two months of the year after the coronavirus epidemic wreaked havoc on the economy, official data showed on March 16. (Photo by STR / AFP) / China OUT

China inflation slips but stays high on coronavirus, food worries

Mar 10, 2020 - 9:30 PM

Analysts say China's inflation rate is likely to remain elevated for some time due to the novel coronavirus outbreak

A customer (L) shops for pork at a market in Beijing on October 15, 2019. - China's consumer inflation accelerated at its fastest pace in almost six years in September as African swine fever sent pork prices soaring nearly 70 percent, official data showed on October 15. (Photo by WANG Zhao / AFP)

China exports plunge on coronavirus epidemic

Mar 07, 2020 - 5:15 PM

China's exports from January to February 2020 fall 17.2% from a year ago, with the novel coronavirus hitting supply chains

TRADE WAR. This photo taken on June 24, 2019, shows containers at the Qingdao Port Foreign Trade Container Terminal in Qingdao, China. File photo by AFP

One worker at a time, virus-hit China's factories sputter back online

Mar 01, 2020 - 9:15 PM

The situation in Wenzhou, a major producer of much of the world's shoes, eyeglasses, and clothing, reflects the slow progress in fully reviving China's economy

Workers wearing protective facemasks as a preventive measure against the COVID-19 coranavirus, sew shoe parts at the Zhejiang Xuda Shoes Co. factory in Wenzhou on February 27, 2020. - Foreign firms in virus-hit China are expecting large drops in revenue, especially for the first half of the year, with some planning to lower their business targets, said trade associations on February 27. (Photo by NOEL CELIS / AFP)

Virus hammers China's February economic activity

Feb 29, 2020 - 5:30 PM

Data released on Saturday, February 29, gives the first glimpse at the devastation the novel coronavirus has caused to industries across China

This photo taken on February 27, 2020 shows a facemask-clad worker stitching insoles at the Zhejiang Xuda Shoes Co. factory in Wenzhou. - Only about one-third of the roughly 1,000-strong workforce at Xuda's factory in the eastern export hub of Wenzhou are around, the rest blocked by virus-induced travel disruptions and safety measures. (Photo by NOEL CELIS / AFP) / TO GO WITH AFP STORY HEALTH-VIRUS-CHINA-ECONOMY-MANUFACTURING,FOCUS BY DAN MARTIN

China cuts loan rate as it battles coronavirus impact

Feb 20, 2020 - 9:20 PM

The reduction in China's loan prime rate is the latest measure to help companies struggling through the epidemic

Small businesses suffer in China as novel coronavirus shuts communities

Feb 10, 2020 - 10:55 PM

As the novel coronavirus claims more lives and infects thousands of people every day, it is also taking a toll on China's small businesses

This photo taken on February 7, 2020 shows a closed restaurant opposite a section of the Great Wall of China at Huanghuacheng, north of Beijing. - As the virus claims more lives and infects thousands of people every day, it is also taking a toll on the country's small businesses that rely on spending from China's growing middle-class. (Photo by GREG BAKER / AFP) / TO GO WITH China-health-virus-economy,FOCUS by Beiyi Seow

China inflation rises as coronavirus disrupts supply chains

Feb 10, 2020 - 10:20 PM

Consumer prices in China increase at their highest rate since October 2011, partly due to the novel coronavirus outbreak

This photo taken on February 9, 2020 shows people wearing protective masks buying meat in Hangzhou in China's eastern Zhejiang province. - China consumer prices rose at their highest rate in more than eight years, official data showed February 10, with inflation more than expected on the back of Lunar New Year demand and a deadly virus outbreak. (Photo by STR / AFP) / China OUT

China offers $43-billion boost to firms fighting novel coronavirus

Feb 09, 2020 - 10:25 PM

The People's Bank of China offers special funding in the battle against the novel coronavirus outbreak

A worker (L) wearing a protective suit carries a fogging machine as others prepare to disinfect a business establishment in Shanghai on February 9, 2020. - The new coronavirus that emerged in central China at the end of last year has killed more than 800 people and spread around the world. (Photo by NOEL CELIS / AFP)

China's stuttering economy braces for impact of deadly virus

Feb 05, 2020 - 8:20 PM

Analysts warn that the economic impact of the novel coronavirus could surpass the SARS epidemic

An empty shopping mall is seen in Beijing on February 5, 2020. - China's struggle to contain the deadly coronavirus is deepening concerns about the impact on the world's number-two economy, as factories stay closed and millions of consumers remain holed up at home. (Photo by GREG BAKER / AFP)

Chinese central bank to pump $173 billion into economy in virus fight

Feb 02, 2020 - 6:20 PM

The People's Bank of China says it will maintain 'reasonable and abundant liquidity' in the banking system, as well as a stable currency market, during the novel coronavirus outbreak

RENMINBI. China says it will not devalue its currency. Photo from Shutterstock

Virus crisis adds pressure on slowing Chinese economy

Jan 30, 2020 - 7:15 PM

The novel coronavirus outbreak is expected to deliver a fresh blow to the world's No. 2 economy

A customer (R) buys dried sausages at a market in Beijing on January 15, 2020. - China's trade surplus with the United States narrowed last year as the world's two biggest economies exchanged punitive tariffs in a bruising trade war, official data showed. (Photo by NICOLAS ASFOURI / AFP)

China inflation flattens as surge in pork prices slows

Jan 09, 2020 - 5:10 PM

China's inflation is steady at 4.5% in December 2019, but pork prices remain high due to the African swine fever outbreak

SURGING INFLATION. A customer shops for pork at a market in Beijing on October 15, 2019. Photo by Wang Zhao/AFP

China’s global economic reach: A balance sheet

Nov 28, 2019 - 3:00 PM

China’s economic relationship with the Global South may be overall positive, but Beijing needs to address the questionable practices of its corporations and agencies

China's economy: Powerful, yes, but vulnerable

Nov 14, 2019 - 9:00 PM

China's rapid growth has produced prosperity and reduced poverty. It has also generated less wholesome economic, social, and ecological consequences which are now catching up with it.

China's growth slows to 6% in third quarter, weakest in 27 years

Oct 18, 2019 - 4:07 PM

With China a key driver of global growth, the soft reading adds to concerns about the world economy and prompts speculation that authorities will unveil fresh stimulus following a series of other measures in recent months

SLOW DOWN. This file photo taken on September 24, 2019 shows employees producing down coats at a factory for Chinese clothing company Bosideng in Nantong in China's eastern Jiangsu province. AFP Photo

IMF trims 2019 China growth forecast as U.S. tariffs bite

Oct 16, 2019 - 9:15 AM

The International Monetary Fund now expects China's economy to grow 6.1% in 2019, instead of the 6.2% previously forecast

Construction workers buy snacks at a food stall in Beijing's central business district on January 18, 2019. - China's economy grew at its slowest pace in almost three decades in 2018, analysts in an AFP poll said on January 18, as the government struggles to contain ballooning debt and a bruising trade war with the United States. (Photo by GREG BAKER / AFP)

China inflation surges in September 2019 as pork prices soar

Oct 15, 2019 - 8:50 PM

Inflation in China hits 3% in September 2019, the highest since November 2013

A customer (L) shops for pork at a market in Beijing on October 15, 2019. - China's consumer inflation accelerated at its fastest pace in almost six years in September as African swine fever sent pork prices soaring nearly 70 percent, official data showed on October 15. (Photo by WANG Zhao / AFP)

China imports, exports down in September 2019 as growth cools

Oct 14, 2019 - 4:10 PM

China's imports dive 8.5% while exports drop 3.2% in September 2019, amid its trade war with the United States

MANUFACTURING. Workers produce desks at a factory in Nantong in China's eastern Jiangsu province on September 4, 2019. Photo by AFP

China inflation hits highest level in 15 months

Jun 12, 2019 - 4:55 PM

Rising pork and fruit prices lead to higher inflation in China for May 2019

A customer (L) buys meat at a market in Shenyang in China's northeastern Liaoning province on June 12, 2019. - Inflation in China rose to its highest level in more than a year in May driven by surges in pork and fruit prices due to the African swine fever epidemic and bad weather, official data showed on June 12. (Photo by STR / AFP) / China OUT

IMF slightly lowers China's 2019 GDP growth forecast to 6.2%

Jun 05, 2019 - 7:20 PM

The International Monetary Fund points to China's trade war with the United States, warning that 'growth will suffer'

This picture taken on May 14, 2019 shows workers making clothes for export at a factory in Quanzhou in China's eastern Fujian province. (Photo by STR / AFP) / China OUT

Apple's Tim Cook urges China to continue to open up its economy

Mar 23, 2019 - 6:28 PM

'We see that as essential not only for China to reach its full potential, but also for the global economy to thrive,' Tim Cook says

Businesses struggle as cracks appear in China's economy

Jan 27, 2019 - 9:30 PM

Private businesses face new hurdles as costs rise and financing becomes harder to come by

This photo taken on January 22, 2019 shows a sales representative waiting for customers in a luxury car showroom in Beijing. - Cracks are opening in China's mighty economy: investors are backing away from deals, factories are moving abroad and companies are shedding jobs.The world's second-largest economy is losing steam, hitting its slowest growth in almost three decades last year, and flagging further in recent months. (Photo by GREG BAKER / AFP)

China's economy grew at slowest pace in 28 years in 2018

Jan 21, 2019 - 12:12 PM

The 6.6% growth is above the official target of around 6.5%, but is down from the 6.8% chalked up in 2017, according to the National Bureau of Statistics

This photo taken on April 9, 2018 shows workers transferring soybeans at a port in Nantong in China's eastern Jiangsu province. President Xi Jinping vowed on April 10 to take new steps to open China's economy "wider and wider" amid a broiling trade confrontation with the United States. / AFP PHOTO / - / China OUT

Chinese Q3 growth hits 9-year low as debt, trade row drag

Oct 19, 2018 - 11:14 AM

(UPDATED) Analysts say the slowing growth could prompt an end to Beijing's fiscal prudence

ECONOMY. A couple wearing Qing dynasty style headwear walk with their children in Tiananmen square in Beijing in December 2012. File photo by AFP

[OPINION] China’s economic time bomb

Jun 30, 2018 - 11:00 AM

There are 3 troubling signs that China is a prime candidate to be the site of the next financial crisis

China's economic growth slows in Q3 but on course to beat target

Oct 19, 2017 - 12:20 PM

The readings come as Xi Jinping is set to secure another 5-year term as the party's general secretary at the highly choreographed week-long congress

PROGRESS. A Chinese worker looks on outside an construction site in the Central Business District of Beijing on October 17, 2017. Wang Zhao/AFP

Warning from history: Could Japan-style crash hit China?

Aug 16, 2017 - 1:32 PM

China is starting to look like Japan before its economic bubble burst in the early 90s – but China is not a mirror image of Japan 30 years ago

An investor looks at an electronic board showing stock information at a brokerage house in Shanghai on March 16, 2017. Johannes Eisele/AFP

China's Xi calls for more imports and more 'open economy'

Jul 18, 2017 - 3:58 PM

Speaking to a Communist Party committee on financial and economic affairs Xi calls for expanding imports while stabilizing exports state media report

POWERING UP. Workers check power lines during maintenance work in Laian, in China's eastern Anhui province on July 17, 2017. Stringer/AFP

China's economy posts steady growth but risks remain

Jul 17, 2017 - 10:44 AM

Authorities warn that the world s second largest economy faces external and internal risks

In this file photo, the skyline of the Lujiazui Financial District in Pudong, Shanghai is seen moments before its lights turned off for the Earth Hour environmental campaign on March 25, 2017. Johannes Eisele/AFP

Moody's cuts China's rating on debt fears

May 24, 2017 - 9:20 PM

But Beijing s finance ministry rejects the assessment saying Moody s had used an inappropriate method to assess risks

A general view shows a congested road in Beijing on May 24, 2017. Moody's on May 24 slashed China's credit rating for the first time in almost three decades citing concerns about the country's rising debt and slowing growth, but Beijing rejected the downgrade as "inappropriate". / AFP PHOTO / FRED DUFOUR

SM Prime, Ayala to defy China's slowdown

Apr 26, 2017 - 9:15 AM

While SM Prime plans to increase its investments in China Ayala is in talks with several Chinese firms that are interested in venturing into Philippine infrastructure

CHINESE TASTES. SM City Xiamen shows how well SM has adapted to China. It started as a mass market department store in 2001, then expanded to a lifestyle mall with upscale brands. Photo by Mia Gonzales/Rappler

China's economy grows 6.9% in first quarter of 2017 – gov't

Apr 17, 2017 - 1:40 PM

The figure beats expectations in the latest sign of stabilization for the world s second largest economy

People walk through a park in the Lujiazui Financial District in Pudong in Shanghai on December 7, 2015. AFP Photo

Duterte's pivot: Are we ready for China's imminent debt crisis?

Oct 22, 2016 - 4:14 PM

Before we embark on ever deeper ties with China it’s imperative that our leaders – starting with the President himself – have a good idea of who we’re dealing with and what exactly we’re signing up for

China flag from Wikimedia Commons

Property and credit booms stabilize China growth

Oct 19, 2016 - 1:34 PM

While the forecast beating reading is in line with state targets it comes as experts warn that authorities have relied too much on easy credit which has in turn increased financial risks

STILL RISING. A general view shows the sun rising over the financial district of Pudong in Shanghai on September 9, 2016. Fred Dufour/AFP

China cuts yuan fix in biggest move since devaluation

Jun 27, 2016 - 1:45 PM

The People s Bank of China sets the value of the yuan at 6 6375 to the dollar the lowest level since December 23 2010

epa04879688 A Chinese fruit vendor shows her store earnings in various denominations of the Chinese Yuan, or Renminbi, currency in Beijing, China, 11 August 2015. The yuan has sunk to the lowest trading price in a decade after China's central bank devalued the currency on 11 August to aid a slowing economy. The People's Bank of China set the daily mid-point yuan trading price a record 1.9 per cent weaker at 6.2298 to the US dollar. EPA/ROLEX DELA PENA

China's total debt is more than double GDP – gov't economist

Jun 16, 2016 - 7:15 PM

China s borrowings hit 168 48 trillion yuan 25 6 trillion at the end of 2015 equivalent to 249 of GDP according to Li Yang

epa05259576 A Chinese construction worker sits in front of a billboard displaying the China Central Television (CCTV) Tower outside a construction site in Beijing, China, 15 April 2016. China's economic growth slowed to 6.7% in the first quarter of the year compared to the same period last year, according to Gross Domestic Product (GDP) figures released by the government on 14 April. EPA/HOW HWEE YOUNG

Dear Digong: Time for a new Philippine foreign policy

Jun 12, 2016 - 7:00 PM

In light of the festering disputes in the West Philippine Sea with the Philippines’ arbitration case against China expected to bear fruit in coming weeks foreign policy issues will figure dominantly in coming weeks and months

Photo by Manman Dejeto/Rappler

European firms' pessimism in China at all-time high – survey

Jun 07, 2016 - 4:15 PM

For these firms the business environment in China has become increasingly hostile

epa05174731 Joerg Wuttke, President of the European Union Chamber of Commerce in China, delivers a briefing on a new report on the increased overcapacity in China's industrial economy at the Four Seasons hotel in Beijing, China, 22 February 2016. According to a statement from the European Chamber, it's report titled 'Overcapacity in China: An Impediment to the Party's Reform Agenda' provides recommendations to address problems of ineffectual efforts by China's government in resolving excessive production capacity in its industrial economy. EPA/ROLEX DELA PENA

China e-commerce giant Alibaba's quarterly revenue leaps 39%

May 05, 2016 - 10:45 PM

Alibaba defies China s economic slowdown and tougher competition in the e commerce market

epa05290364 (FILE) A file photo dated 16 March 2016 showing the Alibaba.com stand at the CeBIT computer show in Hanover, Germany. Alibaba Group is to release their unaudited financial results for the quarter and fiscal year ended March 31, 2016 on 05 May 2016. EPA/MAURITZ ANTIN

China, Japan growth to slow sharply in 2016, IMF warns

May 03, 2016 - 5:00 PM

But overall economic growth in Asia will remain strong thanks to government stimulus measures lower commodity prices and low unemployment

epa05278074 A butcher works at his stall in a wet market in Shenzhen, Guangdong Province, China, 21 April 2016, in a photo issued 26 April 2016. China's economy growth slowed to 6.7 per cent in the first quarter of the year compared to the same period last year, Gross Domestic Product (GDP) figures released by the government showed on 14 April, EPA/FREDDY CHAN

A slowing China brings growing concerns

Apr 19, 2016 - 10:30 AM

Leaders should recognize that it is a transparently enforced rule of law – not looking the other way on enforced disappearances – that will be essential for business confidence and economic growth in the long run

epa05169711 A Chinese vegetable vendor hands a customers her goods at a market in Beijing, China, 19 February 2016. Chinese producer prices continued to drop in January while consumer prices edged up, according to official figures released 18 February. The producer price index, which measures the cost of goods at wholesale level, dropped 5.3 per cent year-on-year in January for the 47th straight month of decline while consumer price index, which measures retail inflation, grew 1.8 per cent in January from one year earlier, up slightly from December's 1.6-per-cent increase, the National Bureau of Statistics said. EPA/HOW HWEE YOUNG

China posts slowest quarterly growth on record – gov't

Apr 18, 2016 - 9:45 PM

But analysts say the world s second largest economy appears to be returning to property led growth

epa03863894 A general view shows the construction field for affordable housing program in Qingdao city, eastern China's Shandong province, 12 September 2013. The construction of 5.6 million affordable homes has begun nationwide as of the end of August in 2013, accounting for roughly 89 per cent of the 6.3 million units planned for the whole year, according to the Ministry of Housing and Urban-Rural Development. China's affordable housing program was approved in 1999, in order to provide cheaper housing to low-income families who cannot afford to buy a home in Chinese cities as real estate prices skyrocketed over the past years. EPA/WU HONG

China GDP growth slows to 6.7% in 1st quarter – gov't

Apr 15, 2016 - 10:53 AM

3rd UPDATE But in a positive signal industrial output rises in March beating expectations

ECONOMIC SLOWDOWN. Citizens walk past commercial establishments at the shopping area of Qianmen district in Beijing, China, January 19, 2016. Photo by Rolex Dela Peña/EPA

China exports rise for first time in 9 months

Apr 13, 2016 - 2:26 PM

UPDATED Imports however fall for the 17th straight month

A crane moves a container at a container port in Qingdao, in east China's Shandong province, March 7, 2016. Yu Fangping/EPA