BEIJING—China announced an economic growth target of around 5% for the year, unchanged from the previous year, a goal that economists say will require more policy support as challenges mount.This year …
Monthly Archives For March 2024
China to defuse risks in real estate, local govt debt, small and medium-sized financial institutions
[Photo/Xinhua] BEIJING — China will address both the symptoms and root causes to defuse risks in real estate, local government debt, and small and medium-sized financial institutions to safeguard …
China sets ambitious economic target for 2024
China has set an ambitious growth target of around 5% for this year, as it announced a series of measures aimed at boosting its flagging economy. Premier Li Qiang made the announcement at the opening…
China says military spending growth in 2024 to stay the same as last year at 7.2%
China is set to increase its defense spending by 7.2% to 1.67 trillion yuan in 2024, according to a Ministry of Finance budget report. China’s 2024 military budget expansion follows a 7.2% increase …
China defence spending to climb 7.2% as Xi Jinping pursues buildup
Military expenditure by the central government is expected to rise to 1.67 trillion yuan ($231 billion) this year, according to a Finance Ministry report released on Tuesday …
China sets ambitious 5 percent growth target for 2024
Chief China Economist at UBS, told AFP. “The property market has continued to fall and not yet reached the bottom, which exerts downward pressure on the economy,” she added, saying that would have a …
China defense budget grows 7.2% despite other ‘belt-tightening’
BEIJING — China’s annual defense spending is set to grow by 7.2% this year, well above the country’s economic growth target of “around 5%.” The Ministry of Finance submitted its annual budget plan to …
China plans to raise defense spending by 7.2% to $231b
At the NPC session last year, the Chinese government proposed a defense budget of 1.55 trillion yuan for the 2023 fiscal year, a 7.2 percent year-on-year increase. The 2022 defense budget was proposed …
China Sets Ambitious 5% Growth Target For 2024, Admits Tough Times
Officials want them to make up for weakness in the the credit-fueled property sector, which once accounted for as much as a quarter of China’s gross domestic product. But domestic sales of EVs are …
Nvidia-Rival AMD Faces Hurdles In Exporting China-Specific AI Chip Amid US Crackdown: Report
The U.S. Department of Commerce has reportedly restricted Advanced Micro Devices Inc. (AMD) from exporting a specialized AI chip to China, citing concerns over its potency, amidst ongoing efforts to …
China’s Huawei and Amazon in patent licencing agreement
China’s Huawei Technologies and U.S. tech giant Amazon said they had signed a multi-year patent licencing deal that resolves litigation between them. Most terms of the deal were not disclosed, but …
China sets an economic growth target of 5% and pledges help for consumers and property developers
Last year, China’s economy grew at a 5.2% pace, but that was after a very slow 3% annual growth rate in 2022, when the country was enduring the worst disruptions from the COVID-19 pandemic, when…
Hong Kong shoppers are crossing the border into Shenzhen to buy croissants and rotisserie chickens at China’s newest Costco
Hong Kong’s economic struggles created the perfect situation for China’s Shenzhen Costco location to thrive, netting 15,000 cross-border memberships.
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