China Archives - Page 16 of 58

29Jun

By Online DeskNo Comments

Asia, China, Market

Shehbaz Sharif’s Chinese treasure hunt

Pakistani Prime Minister Shehbaz Sharif concluded his recent high-stakes five-day official visit to China on 8 June 2024. His delegation included the ministers for foreign affairs, defence, finance, and trade, along with over 100 Pakistani businessmen, and most importantly, the Army Chief General, Asim Munir, underscoring the visit’s strategic significance. The urgency of this trip was driven by Islamabad’s efforts to secure a new credit agreement with the International Monetary Fund (IMF), which hinges on the approval of China, Pakistan’s largest bilateral lender. Pakistan’s budget, usually presented on 10 June, was also kept on hold until Sharif’s return from Beijing. This visit highlights Islamabad’s increasing dependence on China amid a deepening deb...

28Jun

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Asia, China, Market, World

Plenum priorities that could reshape China’s economic future

The Chinese Communist Party's (CPC) third plenary session in July 2024 is an opportunity to enact major structural reforms. The CPC should prioritise reforms to untie household consumption from housing, add a redistributive role to state fiscal functions and ensure the land-based model of finance for urban development yields to a central transfers and local taxes-backed one. The CPC must shrink the housing sector’s footprint on growth and consumption, shift from indirect to direct taxes and plug the structural revenue deficits that have pushed local governments to raise cash from opaque, off-budget mechanisms. The third plenary session of the Chinese Communist Party’s (CPC) 20th Central Committee in July 2024 comes at a critical juncture for an economy beset by profound challenges. ...

27Jun

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Asia, China, Market, World

China Mid-year Outlook 2024 : Waiting for policy

What we think This July there are two important meetings in China that may provide further insight into the macro outlook: the Third Plenum and the Politburo meeting. The two policy areas we’ll closely watch are domestic demand and fiscal reform. The economy appears to be at an inflection point. The resilience of the manufacturing sector is a bright spot, while other parts of the economy look mixed, but could start to improve. Investment implications We retain a relatively cautious view on offshore China markets. The downside is limited, but the upside is capped by a mixed macro backdrop and earnings that have yet to show meaningful upside. We expect the A-share market to be relatively more resilient thanks to lower exposure to geopolitical risks (and foreign outflows), limited F...

27Jun

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Asia, China, Market, World

China and global development: what to read in June 2024

Welcome to the June 2024 edition of our China and Global Development round-up. This month, I have curated a selection of resources that delve into the Belt and Road Initiative’s role in promoting structural transformation, the evolving dynamics of Africa-Asia relations, the EU and China’s distinct development approaches in Africa, and the New Development Bank. Read 1: The Belt and Road and dynamics of structural transformation Along with my colleagues Lorena Lombardozzi and Rhys Jenkins, I have edited a special issue on “China’s Belt and Road Initiative and dynamics of structural transformation”. This project stemmed from our observation that while there is a lot of discussion about the Belt and Road Initiative (BRI) and international development, they rarely engag...

26Jun

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Asia, China, Market, USA, World

China and the renminbi dominate US foreign exchange concerns

Unexciting Treasury report should focus more on dollar strength The US Treasury released its latest foreign exchange report last week. It has not garnered much excitement. Dollar strength poses a bigger foreign exchange question for the current international economic juncture than other currencies, but the report does not devote enough discussion to this. Further, the external positions of key surplus countries raise more nettlesome structural bugs than foreign exchange developments. Nonetheless, several salient themes are well explored, while other parts miss their mark. What are the hits and misses? The hits The first hit is the Treasury’s discussion of the Chinese economy and external position. The report documents China’s efforts to resist renminbi depreciation a...

26Jun

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Asia, China, Market

Address by China Premier Li Qiang to the Annual Meeting of New Champions 2024

This is a transcript from China Premier Li Qiang's speech at the Opening Plenary of the Annual Meeting of the New Champions. Premier Li Qiang underscored the importance of global cooperation and innovation to drive economic growth and identifies artificial intelligence, green energy and biomedicine as potential multitrillion-dollar pillar industries. The 15th Annual Meeting of the New Champions takes place 25-27 June in Dalian under the theme, "Next Frontiers for Growth". Your Excellency President Andrzej Duda, Your Excellency Prime Minister Pham Minh Chinh, professor Klaus Schwab, your excellencies heads of international organizations, distinguished guests, ladies and gentlemen, friends. It is a great pleasure to join friends, old and new, here in the beautiful city ...

<strong>CHINESE CHIP PRODUCTION AT RISK AS EQUIPMENT BAN LOOMS</strong>

26Jun

By Michael SmithNo Comments

Asia, China, Market, USA

CHINESE CHIP PRODUCTION AT RISK AS EQUIPMENT BAN LOOMS

The United States is intensifying its measures to restrict China's access to cutting-edge chip technologies capable of manufacturing gate-all-around (GAA) transistors and high-bandwidth memory (HBM) chips. ChangXin Memory Technologies Inc (CXMT), a Hefei-based company that manufactures DRAM for computer servers and smart vehicles, is likely to be a significant focus of Washington's potential restrictions, as per media reports. Samsung Electronics, SK hynix, and Micron are among the major competitors of CXMT. Alan Estevez, who heads the Bureau of Industry and Security (BIS) at the US Commerce Department, recently embarked on a trip to the Netherlands. The purpose of his visit, as reported by Reuters on Tuesday, was to discuss the inclusion of an additional 11 Chinese chip manufacturi...

25Jun

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Asia, China, Market, USA, World

OECD Economic Surveys: United States 2024

The United States economy has continued to expand at a solid pace and price pressures have eased somewhat. However, a sustained fiscal deficit has contributed to raising public debt as a share of GDP to its highest level since World War II, with a further substantial increase in prospect over coming decades as the population ages. To put the public finances on a more sustainable path, a multi-year fiscal adjustment should be enacted that achieves savings on pensions and healthcare and raises taxation, including on capital incomes. A more medium-term oriented and less complicated federal budgeting process would support this. At the same time, economic growth would benefit from productivity enhancing reforms that promote competition, including through maintaining international trade opennes...

25Jun

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China, Market

In pictures: Leaders talk global economy, China, climate, AI and more at AMNC24

As geopolitical tensions and economic uncertainty continue to impact the global economy, around 1,600 leaders from business, government, civil society, academia and international organizations are gathering at the World Economic Forum's Annual Meeting of the New Champions. The event–taking place in Dalian, People’s Republic of China, from 25-27 June 2024–features dozens of public sessions focusing on the critical issues facing the world. The topics of discussion include new avenues of economic growth, the proliferation of artificial intelligence and advanced technologies, China's role in the global economy, the climate crisis and the clean energy transition, among others.

18Jun

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Asia, China, Market

Measurement of health human capital and its economic effect in China

Improving individual health not only enhances labor productivity but also boosts the productivity of society as a whole. China’s economic development is in urgent need of transitioning from being driven by factors to being driven by innovation, which places higher demands on Health Human Capital (HHC). An evaluation system consisting of 18 indicators across four dimensions—basic health, preventive healthcare, medical resources, quality, and healthy environment—was used to calculate the HHC index of 31 provinces and cities in China from 2005 to 2019 using the entropy method. Following that, this study assessed the influence of HHC on economic growth using endogenous growth theory and the Corgis production function. Firstly, we discovered that the level of home healthcare services in China ...

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