Source: AFP China’s manufacturing activity continued to contract in February as export orders weakened, HSBC said, in a further sign that the eurozone crisis and US weakness are hurting demand. HSBC’s preliminary purchasing managers’ index rose to 49.7, the highest level in four months, from a final reading of 48.8 in January, the British ...
Source: Reuters China is willing to help Europe to solve its debt problem, a Chinese foreign ministry spokesman said Tuesday after the eurozone finance ministers sealed a EUR130-billion (US$172 billion) bailout for Greece. “We support the EU efforts in addressing the euro debt problem. We are always confident in the euro,” Hong Lei, China’s foreign ...
Source: Bloomberg China is seen making more cuts to banks’ reserve requirements to fuel lending and sustain economic growth as the housing market cools and Europe’s sovereign-debt crisis weighs on exports. The proportion of cash that lenders must set aside will fall half a percentage point from February 24, the central bank said February ...
Source: AFP Foreign direct investment in China fell in January for the third straight month, figures showed Thursday, and a commerce official warned of a tough year ahead due to the European debt crisis. Investment by overseas companies fell 0.3 per cent year-on-year to US$10.0 billion last month, the commerce ministry said, compared with US$12.2 ...
Source: AFP China’s top central banker Wednesday expressed confidence in the euro and pledged to continue buying European sovereign debt, as the Asian giant seeks to shore up support for its biggest trading partner. Central bank governor Zhou Xiaochuan also repeated remarks by Premier Wen Jiabao that China was ready to get more involved ...
Source: AFP Chinese Premier Wen Jiabao has said Beijing will “fine-tune” its economic policy this year, state media reported, raising hopes of monetary loosening as the world’s second-largest economy slows. China’s economy expanded by an annual 9.2 per cent last year, narrowing from 10.4 per cent in 2010, and is widely expected to slow further ...
Source: Reuters European government bonds are not ideal for long-term investors such as China Investment Corporation (CIC), the head of China’s US$410 billion sovereign wealth fund said on Monday. Instead, CIC will look to infrastructure and real industrial projects will be attractive, Chairman Lou Jiwei told a meeting. “For instance, the European bonds, like the ...
Source: AFP China’s exports and imports fell in January from a year earlier, data showed Friday, as overseas economic woes hurt demand for Chinese goods and factories closed for the Lunar New Year holiday. Exports fell 0.5 per cent year-on-year in January to US$149.94 billion, while imports plunged 15.3 per cent to US$122.66 billion, the ...
Source: AFP China’s annual inflation rate hit 4.5 per cent in January, the highest level in three months, data showed Thursday, after consumers splashed out on food and gifts over the Lunar New Year holiday. The country’s consumer price index, a key gauge of inflation, was higher than the 4.1 per cent in December ...
Source: Bloomberg China’s stocks rallied the most in three weeks on speculation slowing inflation will provide more leeway for the central bank to ease monetary policy and after the government pledged to support first-time homebuyers. Jiangxi Copper Co, the largest producer of the metal, soared 10 per cent after an economist said China may ...
