Chinas

China’s Surging Exports Defy Expectations Amid Global Turmoil – What’s Driving the Boom?

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Beijing, China – China’s economic resilience shines through its latest trade data, showcasing stronger-than-expected exports in the first two months of the year. Despite challenges such as subdued overseas demand and geopolitical tensions, the world’s second-largest economy reported a 7.1% increase in exports, reaching $528 billion in combined figures for January and February, according to customs data released recently. This surpasses the 3.9% growth predicted by Chinese financial data provider Wind and also exceeds the …

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China’s Dollar-Denominated Exports Soar in 2024, Surprising Analysts – What’s Driving This Growth?

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Shanghai, China – In a surprising turn of events, China’s dollar-denominated exports surged by 7.1% in the first two months of 2024, exceeding expectations by a significant margin. The rise in exports was a positive sign for the country’s economy, showing resilience despite global challenges. Dollar-denominated imports also saw an increase of 3.5% year-over-year, indicating a steady flow of goods in and out of the country. Additionally, during the same period, yuan-denominated exports and imports …

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China’s Two Sessions: What to Expect from Beijing’s Annual Political Event

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Beijing, China – Thousands of delegates from various regions of China are convening in Beijing this week for the commencement of the nation’s most significant annual political assembly. During this event, leaders will outline their strategies for steering the world’s second-largest economy in the upcoming year, aiming to alleviate growing concerns about the challenges it is currently facing. Chinese leader Xi Jinping and top Communist Party officials are anticipated to emphasize self-assurance during the meticulously …

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China’s Premier Li Qiang Breaks Decades-Long Tradition by Skipping Annual Press Briefing, Investors Left in the Dark as Xi Jinping Tightens Grip on Economy

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Beijing, China – Li Qiang is set to break a decades-long tradition by becoming the first premier in 30 years to forego a press briefing during China’s annual parliamentary meetings. This decision comes as President Xi Jinping tightens his grip over the world’s second-largest economy, leaving investors with fewer opportunities to gain insights into the country’s policy direction. The announcement that the country’s No. 2 official will not take questions at the close of the …

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China’s Economy in Trouble: 8 Charts Show What’s Wrong

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Washington, DC – China’s economy is facing challenges as recent data points to concerning trends. From a decline in high-income status to deteriorating economic prospects, experts are examining the various factors contributing to the country’s economic woes. As China navigates through these turbulent times, analysts are closely monitoring key sectors within the economy that are showing signs of resilience. Despite the overall grim outlook, there are pockets of success in certain industries, indicating a two-speed …

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Prime Minister Feleti Teo Assumes Power in Tuvalu After Opposition Ousted – China’s Influence Hangs in the Balance

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Melbourne, Australia – Tuvalu, a small South Pacific nation, welcomed the appointment of former Attorney General Feleti Teo as the new prime minister following recent elections that led to the ousting of the previous government leader. Teo, the sole candidate put forward by his 15 lawmaker colleagues, was unanimously elected by Governor General Tofiga Vaevalu Falani without the need for a vote, according to a statement from government secretary Tufoua Panapa. The official swearing-in ceremony …

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China’s Bold Move to Boost Property Market: Slashes Mortgage Reference Rates! Will It Work?

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BEIJING, China – In an effort to stimulate the slowing property market, China has reduced its mortgage reference rates, a move that is expected to make it easier for homebuyers to obtain loans and boost the housing sector. The People’s Bank of China (PBOC) announced that it would lower the one-year loan prime rate (LPR) to 4.05% from 4.15%. This is the first reduction in the LPR since April 2020. The five-year LPR was also …

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China’s Central Bank Cuts Mortgage Rates in Effort to Boost Property Market

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HAIAN, China – In an effort to revive China’s struggling property market, the country’s lenders have cut the benchmark five-year loan prime rate for the first time since June. The move follows the Chinese central bank’s decision to keep the one-year loan prime rate unchanged at 3.45%, which is the peg for the majority of household and corporate loans in China. The benchmark five-year loan rate, which is the peg for most mortgages, was reduced …

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China’s Central Bank Makes Historic Move, Slashing Mortgage Rates for the First Time Since June

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Beijing, China – The People’s Bank of China is expected to cut the mortgage reference rate for the first time since June, a move that could provide support to the housing market and stimulate economic growth. This decision comes as the country’s central bank seeks to mitigate the economic impact of the ongoing trade tensions with the United States and the global pandemic. The move to cut the mortgage reference rate is seen as a …

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China’s Economy Rebounds: Lunar New Year Spending Soars Over 34% After Pandemic

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SHANGHAI, China – Travel and spending in China surged during the Lunar New Year holiday, exceeding pre-pandemic levels and indicating an improvement in the country’s economy. According to data released by the Ministry of Culture and Tourism, there were 474 million domestic trips made during the eight-day festival, representing a 34.3% increase from the previous year. Domestic holiday trips in China generated nearly 632.7 billion yuan (equivalent to $87.95 billion), marking a 47.3% year-over-year increase …

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