High-quality development unfolds on high-speed tracks (China Daily)
2024-02-16
Year of Dragon off to a roaring start (China Daily)
2024-02-16
Foreign investors eye more opportunities in China's high-tech industry (Xinhua)
2024-02-15
China's SMEs report better performance in January (China Daily)
2024-02-14
China’s foreign firms grapple with upward mobility in post-Covid era as state-owned peers rise (SCMP)
2024-02-14
China’s youth ‘lie flat’ as economy slows, with ‘free time worth more than several thousand yuan’ (SCMP/Reuters)
2024-02-14
China’s FTA partners reach 29: govt data (China Daily)
2024-02-13
CCB, BOC and China Everbright among Chinese lenders that have injected billions into ‘whitelist’ housing projects (SCMP)
2024-02-13
Weekend Long Read: China’s Regional Economies Underperform During 2023’s Fragile Recovery (Caixin)
2024-02-09
More than half of the Chinese mainland’s 31 provincial-level regions missed their GDP targets last year, dragged down by lower prices, a protracted property market slump and a mounting local government debt crisis. A breakdown by region shows that China’s developed coastal provinces carried the economy through its fragile post-pandemic recovery last year. Nominal GDP growth reached 5.1% in eastern provinces, while the west was close behind with 4.6% and the northeast 3.7%. All outpaced the country’s central region, where GDP growth came in at 3.3%. Developed eastern coastal provinces saw a robust rebound in the industrial and services sectors, along with a resurgence in offline consumption. Provincial-level regions in central China, however, were mired in a prolonged real estate meltdown that dragged on overall investment and consumption. Western China, meanwhile, benefited from its thriving energy industry, although some provincial-level regions embroiled in local government debt restructuring saw lackluster investment, which weighed on their overall growth. Last year, the top five economic powerhouses were Guangdong, Jiangsu, Shandong, Zhejiang and Sichuan provinces, which contributed 40% of the country’s total GDP. Guangdong led the pack, with GDP exceeding 13 trillion yuan ($1.9 trillion) for the first time, accounting for 10.8% of national GDP. The southern province retained the top spot nationwide for the 35th straight year. Jiangsu, Shandong, Zhejiang and Sichuan each clocked new records for 2023, hitting 12.8 trillion yuan, 9.2 trillion yuan, 8.3 trillion yuan and 6 trillion yuan in GDP, respectively. Henan, Central China’s largest economy, fell out of the top five due to declines in external demand, falling consumer prices and a property sales slump. Sichuan replaced the breadbasket province, becoming the biggest economy in the central and western regions last year. Shanghai rounded out the top 10, with its economy generating 4.7 trillion yuan of GDP after pulling off a quick post-pandemic recovery.
BASF to divest from two China joint ventures over allegations of Xinjiang human rights abuses (SCMP)
2024-02-09
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