The construction of the Goldin Finance 117 tower in Tianjin, China, is finally getting back on track. This tower, known as "China 117, " has been sitting unfinished for a decade. It was supposed to be a major part of Tianjin's skyline, but the Chinese stock market crash in 2015 put a stop to that. Now, with a new construction permit in hand, the tower is set to be co...
China is in a tough spot. The trade war with the United States is heating up, and the Chinese government is looking for ways to keep the economy afloat. One of their big plans is to get Chinese people to spend more money at home. This might sound simple, but it's not as easy as it seems. The idea is to boost domestic spending. The government wants to make sure t...
As the Chinese yuan continues to slip, the country's central bank chose not to alter its benchmark lending rates on Monday. The decision comes as the incoming U. S. President Donald Trump is set to take office, a move that's sparked uncertainty in the financial markets. The People's Bank of China (PBOC) retained the 1-year loan prime rate at a steady 3. 1%, and the 5...
Did you know that China's factory profits took a nosedive last month? Yep, they dropped by 10% compared to the same time last year. And guess what? This is the second month in a row that factory profits have taken a hit. In September, they plummeted by a whopping 27. 1%, the biggest drop since the start of the pandemic in 2020. Factory profits are a big deal because ...
China's central bank, known as the People's Bank of China (PBOC), has decided to keep the medium-term loan rate frozen at 2. 0%. This comes at a time when the yuan, the country's currency, is feeling some heat. The PBOC handed out loans worth 900 billion yuan (that's about $124. 26 billion) to some financial institutions for a whole year. These loans are part of what...
China's economy grew by just 4. 6% in the third quarter, the second quarter in a row to miss the government's target of 5% growth for 2024. Weak consumer spending, a struggling property market, and slower industrial output are to blame. Retail sales grew by 3. 3%, down from 3. 7%, and industrial production dropped to 5. 8%. Investment in fixed assets, like buildings ...
On Monday, Asian shares took an upward leap, with Chinese stocks soaring over 1% after the finance minister hinted at more economic support. While U.S. futures remained steady and oil prices dipped, investors worldwide held their breath for more details on China's new stimulus plan. Experts believe the government will unveil a significant stimulus package of up to $2...
China's Finance Minister, Lan Fo'an, recently suggested that there's room for more economic stimulus, but he didn't reveal any specific plans. This could mean new steps to boost the economy in the future, but what those might be is still a mystery. China's economy hasn't been doing great even after COVID-19 restrictions were lifted. Companies aren't hiring much, wag...
Early morning trading was a rollercoaster ride for investors. Many US-listed Chinese stocks like online video giant Bilibili crashed by over 13%, with automaker Nio and e-commerce giants JD.com and Alibaba also taking heavy hits. The reason? China's state planner didn't announce any new stimulus plans. The gambling scene in Macau didn't fare well either, with casino ...
China, the world's second-largest economy, is facing a prolonged economic slowdown. The country's factory activity has contracted for five straight months, with a purchasing managers' index (PMI) reading of 49.8 in September. While this is higher than expected, it still indicates a contraction in manufacturing activity. The PMI is a widely followed indicator of econo...