Month: February 2023
China’s new bank loans hit new record in Jan, household lending still weak
China’s new bank loans hit a record high of 4.9 trillion yuan ($720.21 billion) in January, as the authority moved to shore up growth in the world’s second-biggest economy after the relaxation of Covid-19 control measures.
China’s consumer price rose at faster pace in Jan, factory-gate deflation deepens
China’s consumer prices grew at a faster pace in January driven by surging spending on services after relaxation of Covid control measures and during the Spring Festival holidays, while factory-gate deflation deepened amid falling commodity prices.
China’s passenger car sales slid 37.9% on year in Jan
China’s retail sales of passenger vehicles reached 1.293 million units in January 2023, sliding 37.9% from a year earlier and down 40.4% from the month before.
First shipment of Australian coking coal set to arrive in China on Wed night
The first shipment of Australian coking coal is set to arrive at a southern Chinese port on Wednesday night following breakthrough trade talks between the two countries this week.
Chinese EV maker Li Auto launches L7 family SUV
Chinese electric vehicle maker Li Auto on Wednesday launched Li L7, a five-seat flagship family sport utility vehicle it wants to rival cars like Tesla’s Model Y.
Meng Wanzhou to serve as Huawei’s rotating chairperson on Apr 1 – report
Meng Wanzhou will begin her term as the rotating chairperson of Huawei Technologies on April 1, state-backed Shanghai Security News reported on Wednesday.
Fitch raised forecast of China’s 2023 economic growth to 5% from 4.1%
Fitch Ratings raised its forecast for China’s economic growth in 2023 to 5%, from 4.1% previously, reflecting evidence that consumption and activity are recovering faster than initially anticipated after the authorities moved away from their “dynamic zero Covid-19” policy stance in late 2022.
China’s Zhihu surged up to 57% to hit record high in Hong Kong on ChatGPT potential
China’s largest question and answer platform Zhihu, surged as much as 57% to hit HK$36.6, marking the highest on record, before paring gains to close up 39.6% at HK$32.45.
China’s economy rebounded in early 2023, consumption posted robust growth – Premier Li
China’s economic growth stabilized at the end of last year and rebounded at the beginning of 2023, said Chinese Premier Li Keqiang chaired a seminar on Tuesday, according to the official Xinhua News Agency.
Chinese power battery makers saw strong growth in 2022, CATL continued to rank top globally
Chinese power battery makers saw strong growth in installed capacity in 2022, while Korean and Japanese peers underperformed, showed a report by South Korean market research firm SNE Research.
