China’s industrial profits took a sharp nosedive in September, marking the largest monthly decline of the year, according to official data released on Sunday. The profits plummeted by 27.1% compared to the same period last year, following a 17.8% drop in August. In the first nine months of the year, earnings fell by 3.5%, a … Read more
Investing.com– Most Asian currencies were trading within a narrow range on Monday, with the yuan holding steady after the People’s Bank of China cut interest rates slightly more than anticipated. Meanwhile, the dollar remained close to recent highs. Regional currencies had been under pressure in recent weeks as expectations of smaller U.S. interest rate cuts … Read more
Investing.com — Wells Fargo analysts have expressed doubts about the recent high-profile policy announcements from China, suggesting that the measures taken are unlikely to have a significant impact on the country’s economic trajectory. The bank argues that the growth effects of these stimulus initiatives will be similar to past experiences and will not address the … Read more
“The property market remains the biggest drag on China’s growth,” said Lynn Song, chief economist for greater China at banking giant ING. “New investment is unlikely to see a substantive recovery until prices stabilize and housing inventories decline… until then property will remain a notable headwind to growth.” Earlier on Friday, China’s central bank said … Read more
Investing.com– The Chinese economy expanded as forecasted in the third quarter, according to gross domestic product data released on Friday, although the growth rate remained below Beijing’s annual target. Chinese GDP grew by 4.6% year-on-year in the three months ending on September 30, in line with expectations but decelerating from the 4.7% growth seen in … Read more
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s economy grew by 4.6 per cent year on year in the third quarter, according to official data released on Friday. This growth rate is slower than the previous three months, highlighting a slowdown in … Read more