The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world’s second largest economy.
Tagged By finance
World Bank slashes China growth forecasts from 4.3% to 2.7%
The World Bank’s figures are below Beijing’s stated GDP growth target for this year of around 5.5 percent. In December, China abruptly abandoned its zero-Covid policy after months long. Despite this, …
Who is responsible for China’s COVID catastrophe?
A tragedy of monumental proportions is unfolding across China as a result of the Chinese Communist Party lifting its Zero-COVID policy and embracing the “forever COVID” policy demanded by the US and …
China holds benchmark lending rates for 4th consecutive month
China kept benchmark lending interest rates unchanged for the fourth consecutive month on Tuesday, matching the forecasts of most market watchers who nevertheless expect further monetary easing to …
Beijing’s promise of policy support for China’s Big Tech companies ‘too abstract’ as more action is needed, analysts say
The show of support from the Central Economic Work Conference comes month after the State Council pledged major new policy commitments to help the country’s digital economy.
Fintech and ‘China’s Reinvention of Money’
Identify the key components of China’s fintech revolution. Fintech transformed a backward financial system into a world-leading adopter of technology. It began with online payments, which tech firms …
Citigroup (C) to Shut Down China Consumer Banking Business
Citigroup (C) is exiting its Chinese consumer banking business. The move, expected to affect nearly 1,200 employees, will have no material impact on its financials.
Citi to wind down China retail presence
The move will affect 1,200 employees, but the cost is not expected to be material, the bank said. Citi now has an exit strategy in place for all but one of the markets mentioned in…
U.S. and China Suddenly Play a Bit Nicer—Except in Chips
China is making some significant concessions to Washington in the trade and financial policy arenas.
2 COVID-19 deaths reported in Beijing as virus surges
Chinese health authorities on Monday announced two additional COVID-19 deaths, both in the capital Beijing, that were the first reported in weeks and come during an expected surge of illnesses after …
Three stocks to watch for China’s reopening
China’s road to reopening is front of mind for investors as we go into 2023. But will it also be the best news story of the new year for markets?
News Analysis: Optimized epidemic response to help China achieve “J-curve” economic recovery
A senior economic official said the optimized response China adopted to deal with COVID-19 is expected to have a “J-curve effect” on the economy that will help it gain strong growth momentum in 2023.
India ramps up lending to counter China
This is an audio transcript of the FT News Briefing podcast episode: ‘India ramps up lending to counter China’ Jess Smith Good morning for the Financial Times. Today is Monday, December 19th, and this …
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