China Archives - Page 2 of 33

The disparity between India and China’s trade figures from January to October of this year increased to $15 billion.

27Nov

By Brian ThompsonNo Comments

The disparity between India and China’s trade figures from January to October of this year increased to $15 billion.

The magnitude of the discrepancy in the India-China official trade numbers as per data sets released separately by New Delhi and Beijing has widened further this year, amid rising instances of under-invoicing and potentially higher losses to the Indian exchequer despite efforts by tax authorities to plug loopholes. The disparity between official figures on exports to India released by China and the imports from China reported by India jumped over 20 percent to $15.47 billion during the first 10 months of 2023, as against $12.75 billion in the corresponding period last year. Under-invoicing of imported goods involves marking the stated value of imports below the actual value paid to the foreign exporter, thereby reducing the import tax outgo. The Ministry of Commerce and Industry in ...

China must maintain and open financial channels for private companies.

27Nov

By Michael SmithNo Comments

China, World

China must maintain and open financial channels for private companies.

Top Chinese government departments led by the central bank said on Monday that measures needed to be stepped up to strengthen financial support for private companies, including unblocking and sustaining of funding channels. State agencies have in recent months unveiled a flurry of initiatives to support private businesses after authorities vowed to make the sector "bigger, better and stronger", in a bid to shore up an economic recovery. Private firms, which account for 60% of China's gross domestic product and 80% of urban jobs, were hurt by three years of COVID curbs and a regulatory crackdown that targeted sectors from technology to private tutoring. Efforts should be made to "unblock" financial channels such as loans, bonds and shares, said the People's Bank of China (PBOC) in...

Property stocks plummet in China, leading the Asia market downturn, while service inflation in Japan increases.

27Nov

By TheGreenZoneNo Comments

China, World

Property stocks plummet in China, leading the Asia market downturn, while service inflation in Japan increases.

Asia-Pacific stocks fell on Monday as the Chinese market dropped due to a decline in property firms, while Japan’s service inflation surged to a 45-month high. Data showed Japan’s service PPI rose 2.3% in October to its highest level since January 2020 and more than the prior month’s reading of 2%. On Monday, China’s industrial profits continued to shrink in November, but at its slowest pace in almost a year, according to data released by the government. The world’s second largest economy will release its official factory activity figures for November on Thursday, while the Caixin survey for the same metric will be out on Friday. Australia will release its October inflation figures on Wednesday, which will offer clues to its central bank’s policy moves. India’s gross domestic ...

China’s Growing Influence In British Universities Raises Concerns Over National Security And Acaemic Freedom

23Nov

By Michael SmithNo Comments

China

China’s Growing Influence In British Universities Raises Concerns Over National Security And Acaemic Freedom

In recent years, British universities have become recipients of substantial Chinese funding, a significant portion of which has been linked to the Chinese military, according to a recent report by the British think tank Civitas. The study, which surveyed 88 U.K. universities, revealed that 46 of them acknowledged receiving funding ranging from £122 million to £156 million from China since 2017. This funding encompasses research collaborations, one-off donations, and contributions from various Chinese entities. Disturbingly, 30% of this financial support has direct ties to the Chinese People’s Liberation Army (PLA), raising serious concerns about national security and academic independence. The Civitas report sheds light on the alarming extent of Chinese military-linked funding infiltra...

15Nov

By Michael SmithNo Comments

China, USA

Prior to a crucial U.S. conference with Xi, Biden claims that China has “real problems.”

U.S. President Joe Biden said on Tuesday that China has "real problems," speaking at a fundraiser in San Francisco on the eve of an eagerly awaited meeting in the U.S. city between himself and his Chinese counterpart, Xi Jinping. The leaders of the world's two largest economies will huddle on the sidelines of the APEC summit in California for their first encounter in a year as trade tensions, sanctions and the question of Taiwan have fuelled quarrels between Washington and Beijing. Mr. Biden, who like Mr. Xi arrived in San Francisco on Tuesday, has characterised the meeting as a chance to right ties that have floundered in recent years. "President Xi is another example of how reestablishing American leadership in the world is taking hold. They've got real problems," he told a fun...

8Nov

By Brian ThompsonNo Comments

China, World

What Causes the Economic Downturn in China?

The growth of the Chinese economy over the last four decades is one of the most globally transformative events of the last few centuries. Beginning in 1979, the country has radically transformed from an agrarian economy to one dominated by service and industry, and China stands today as the world’s top trading nation. Recently, however, this “growth miracle” has shown signs of weakening. Even before the country’s COVID shutdowns, growth had begun stalling amid demographic headwinds, an emerging slowdown in the real estate sector, and a re-emergence of state-led economic policymaking. The centralization of power has fed into a worsening relationship with China’s western partners that further threatens the country’s growth prospects. China's government began to play a larger role in pri...

Pakistan continues to rely on CPEC despite sluggish implantation so far

6Nov

By Michael SmithNo Comments

China

Pakistan continues to rely on CPEC despite sluggish implantation so far

Pakistan has signed a slew of agreements with China, showing "blind faith" in Beijing, despite serious difficulties being faced by the China- Pakistan Economic Corridor (CPEC). However, this is likely to remain on paper and rather can create more problems for the cash-strapped Pakistan as several CPEC projects are experiencing delays or being halted. Azeem Khalid, a Pakistan-China relations scholar at Islamabad-based COMSATS University, said the CPEC has failed to meet the expectations so far. "The overpromising and underdelivering have remained a crucial factor, coupled with inherent capacity issues, and instability on the political and security fronts," he said.1 "It is safe to assert that the hype surrounding CPEC was more a product of propaganda than a reflection of rea...

Chinese economy in doldrums, youth unemployment rising, CPC forced to ease control on private sector

26Oct

By Joe RodriguezNo Comments

China

Chinese economy in doldrums, youth unemployment rising, CPC forced to ease control on private sector

The Chinese economy is in doldrums. One of the manifestations is the alarmingly high rate of unemployment among the youth. Senior Lecturer of Victoria University of Wellington Christian Yao has been quoted in a news analysis from Wellington on October 9, 2023, that the rate of youth unemployment in China of 21.3 percent is not only high but alarming, because this can affect other economies as well as geopolitical relations. The rate has more than doubled the pre-Covid rate of May 2018. Interestingly this had coincided with the National Bureau of Statistics of China announcing it would no longer report age-specific data; under the pretext that it needed to “improve and optimize labour force survey statistics.” One of the reasons for this growing incidence of youth unemployment ...

According to the IEA, the shift to clean energy is irreversible.

26Oct

By Walter ParezNo Comments

Asia, China

According to the IEA, the shift to clean energy is irreversible.

“If China’s near-term growth were to slow by another percentage point, this would reduce 2030 coal demand by an amount almost equal to the volume currently consumed by the whole of Europe.” The world is on track to see use of all fossil fuels peak before 2030, according to a new report published by the International Energy Agency (IEA). In its World Energy Outlook on Thursday, the IEA said the world will change significantly over the next six years. “There are set to be almost 10 times as many electric cars on the road [in 2030], with renewables nearing half of the global power mix, but much stronger policies are needed for 1.5C,” it said, in a press release on the report. “The transition to clean energy is happening worldwide and it’s unstoppable,” IEA executive dir...

26Oct

By Mike TrudellNo Comments

Asia, China

$1 billion China Property and Banking Hit, According to Standard Chartered

The UK-based bank, which earns most of its revenue in Asia, lost $700m alone from its stake in China Bohai Bank Standard Chartered shares took a battering on Thursday after the bank saw its profit dive by a third as a result of a $1 billion hit from China’s real estate and banking sectors. The UK-based bank’s stock fell 12% before trading was briefly halted following news that its pre-tax profit dropped 33% in the third quarter, far worse than analyst estimates. StanChart pointed the finger of blame at a $700 million knock from its stake in China Bohai Bank, and a $186 million charge from Chinese commercial real estate. The UK-headquartered bank, which earns most of its revenue in Asia, booked July-September statutory pretax profit of $633 million. That compared with $996 mill...

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