The Caixin/S&P Global services PMI, dropped to 51.8 in August, the lowest reading since December when Covid-19 confined many consumers to their homes.
Monthly Archives For September 2023
Stocks down as traders await more China economic support measures
Equities fell Tuesday, with traders unable to build on the previous day’s rally as they await fresh measures out of China to stimulate the economy and support the creaking property market.”This suggests the potential for…
Two people have been accused of using an excavator to destroy part of the Great Wall of China to create a shortcut
A man and a woman are being detained in China after being accused of cutting a path through the Great Wall of China.
China’s August services activity slows amid sluggish demand – Caixin PMI
BEIJING (Reuters) – China’s services activity expanded at the slowest pace … the lowest reading since December when COVID-19 confined many consumers to their homes. The 50-point mark separates …
Despite Rome’s Scepticism, China Says Belt and Road Cooperation With Italy ‘Fruitful’
BEIJING (Reuters) – Despite Rome’s scepticism, China’s Foreign Minister Wang Yi said cooperation with Italy under the Beijing-led Belt and Road initiative had been fruitful, with high-quality Italian products having entered “thousands of households” in…
China’s 360 to open AI model to the public – state media
China’s tech firm 360 Security Technology will open its AI model, Zhinao, to the public, China’s state-backed Securities Times said on Tuesday. Earlier this morning, Chinese artificial intelligence (AI) firm iFLYTEK Co opened its Spark…
Oil prices mixed on receding support from China’s steps to revive economy
Oil prices were mixed on Tuesday as support from China’s measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia Brent…
China ‘gifts’ and cost concerns: Pacific Games stir controversy in Solomon Islands
The host nation has attracted criticism over the price tag of November’s event, while an expert labels Chinese funding ‘shrewd diplomacy’
China’s auto workers bear the brunt of price war as fallout widens
As Shanghai sweltered in a heatwave in June, the car factory where Mike Chen works switched production to night shifts and dialled down the air-conditioning. For Chen, toiling through the early hours in his sweat-soaked…
Japan to WTO: China’s Fukushima-related seafood ban ‘totally unacceptable’
China’s ban on Japanese seafood after the release of treated radioactive water from the Fukushima nuclear plant was “totally unacceptable”, the Japanese foreign ministry said late on Monday.
Never mind deflation and the property crisis – a brain drain could be the next big threat to China’s economy
Never mind deflation and the property crisis – a brain drain could be the next big threat to China’s economy It’s been a rough 2023 for China, with Beijing failing to stop deflation or contain…
Why China Hasn’t Unleashed the ‘Bazooka’ Option to Rescue Its Economy
The national authorities sold special treasury bonds in 2020 when the pandemic hit, and in 2009 to cushion the impact of the global financial crisis. Most economists think there’s room to do so again, …
‘Most at risk’: UBS downgrades 2 major automakers over China EVs threat
As China’s former No. 1 automaker … Although UBS expects Renault’s financial performance to remain strong in coming quarters, the bank said most indicators are no longer improving. With about 70% of …
