During the period between May and July 2023, Bolivia has completed financial operations for a total of 278 million Chinese yuan, which represents 10% of its foreign trade. This decision marks an important step in the adoption of the Chinese currency as an alternative, in response to the decline in dollar reserves that has impacted […]
Tag: China
Chinese real estate sector: fears of contagion grow and liquidity crisis grows
The largest private property developer in China, Country Gardenintends to delay the payment of a private bond for the first time onshorethe latest sign of the suffocating shortage of liquidity in the real estatewhich puts pressure on Beijing to intervene. Adding to concerns about contagion risk, Zhongrong International Trust Co, a major Chinese trust company […]
China issues guidelines to attract more foreign investment
He Chinese State Council (Executive) published in the last hours guidelines to “further optimize the foreign investment environment” and “intensify efforts to attract foreign investment”, at a time when the post-pandemic recovery of the Chinese economy seems to have slowed down. The guidelines call for “improving the general balance between the national and international situation” […]
New bank loans in China fall in July and credit growth falls further
new bank loans China fell in July and other key indicators of the credit they also weakened, despite currency leaders cutting interest rates and pledging more support for the faltering economy. Chinese banks made 345.9 billion yuan ($47.8 billion) in new yuan loans in July, an 89% drop from June and the lowest level since […]
Chinese real estate giant Country Garden collapses on the stock market
The share of developer Country Garden, one of China’s largest real estate groups, lost more than 15% on the stock market on Monday, causing concern in the markets. The Hang Seng index of the Hong Kong stock market closed down 1.58%, the Shanghai Composite Index lost 0.3% and in Tokyo the Nikkei 225 fell 1.27%. […]
China authorizes group tourism trips to Peru and 70 other countries
China This Thursday lifted the ban for its citizens to make group trips to more than 70 countries, including several in Latin America, a restriction that had been in force since the health crisis. The Asian giant had already lifted the ban on organized trips to several countries such as Argentina and Cuba in January […]
China: prices fall in July and confirm another deflation
By: Agencies The Consumer Price Index (CPI) in China fell -0.3% in July and the second largest economy in the world fell back into the field of deflationafter a few days ago it was reported that exports from that country fell 9.2% compared to the same month of the previous year, standing at around 2.02 […]
Allianz Trade: heat waves could take 0.6 points off world GDP in 2023
The recent heat waves registered in the world could take away from the Gross Domestic Product (GDP) about 0.6 points in 2023, warns a “estimate” of the insurer Allianz Trade, which indicates that China it could lose even 1.3 growth points. The European Copernicus Observatory confirmed on Tuesday that July 2023 was the hottest month […]
China enters deflation: prices in the Asian giant fell -0.3% in July
For the first time since the beginning of 2021, the Consumer Price Index (CPI) in China fell -0.3% in July and catapulted the world’s second largest economy into deflationary terrain, according to official data from the National Office of Statistics (ONE). China runs in the opposite direction to the world: while in other countries interest […]
China enters deflation despite efforts to boost recovery
China’s consumer sector deflated and ex-factory prices continued to decline in July as the world’s second largest economy struggled to revive demand and pressure mounted for more direct stimulus measures from Beijing. Concerns are growing that China is entering an era of much slower economic growth, similar to the period Japan went through, in which […]