PBoC data show lending has risen in almost all sectors

PBoC data show lending has risen in almost all sectors

(ATF) The People's Bank of China has released its financial institution loan and investment report for Q2 via a video link from Beijing and on its website. Loans to the defence industry and chipmakers are booming. Real estate appears to be seeing a slight dip, but loans are increasing across ...

Continue reading

Signs China coronavirus recovery may be losing steam 

Signs China recovery may be losing steam 

BEIJING: Growth in China's services sector slowed in July from a decade high the previous month, as new export business fell and job losses continued, an industry survey showed on Wednesday, pointing to cracks in the sector's post-coronavirus recovery. The Caixin/Markit services Purchasing Managers' Index (PMI) fell to 54.1 from ...

Continue reading

China says state pensions to increase

China says state pensions to increase

(ATF) The Ministry of Human Resources and Social Security and the Ministry of Finance say the state pension in China will rise by 5% this year. Many pensioners feared pensions may not be paid in full this year, as various premiums have been reduced or cut under pressure from economic ...

Continue reading

PBoC pledges continued internationalisation of financial industry

PBoC pledges continued internationalisation of financial industry

(ATF) The People's Bank of China (PBOC), the central bank, said on August 3 that it will push forward with the internationalisation of China’s financial industry in the second-half of the year. Measures announced to open up China's financial sector, including the internationalisation of the yuan and capital account convertibility, ...

Continue reading

China Politburo: Top priority now is to expand domestic demand

China Politburo: Top priority now is to expand domestic demand

(ATF) On August 3, the People's Daily announced measures issued by the Politburo, from their meeting on July 30. Besides the usual maxims, structural reform has been pushed as the "main line" for the next six months. But the strategic focus is on expanding domestic demand, and protecting and stimulating ...

Continue reading

Exports resilience, infrastructure fuel China recovery

Exports resilience, infrastructure fuel China recovery

China’s factories hummed at a faster clip in July as manufacturers stepped on the throttle following a recovery in external demand and infrastructure spending. The country's closely watched Purchasing Managers' Index (PMI), a key gauge of manufacturing activity, has bounced back after measures to curb the coronavirus caused a dramatic ...

Continue reading

China’s economic recovery looks squiggle-shaped

China’s economic recovery looks squiggle-shaped

HONG KONG: China’s V-shaped recovery looks squiggly on closer examination. Budweiser, KFC and Rio Tinto pointed to reviving sales in beer, fried chicken and steel in their latest quarterly earnings reports. Official data shows industrial profitability is improving too, and domestic tourism is rebounding. But the revival is unevenly distributed. ...

Continue reading