China’s auto market demand remains weak, maintains forecast for 3% annual growth – industry association

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Chinese major retailers and catering companies saw their total sales on April 29, the first day of the five-day Labor Day holiday,
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China’s GDP grew by 4.5% in the first quarter from a year earlier to 28.5 trillion yuan, according to data released by
China’s foreign exchange reserves stood at $3.1839 trillion at the end of March, representing an increase of $50.7 billion or 1.62% from
China’s average price of lithium carbonate, a key material for producing power batteries, hit 219,000 yuan per tonne on April 4, slumping
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The net balance measuring whether Chinese companies project an increase in headcount over the next 12 months was 11% in February, the highest level in eight years, according to a survey by S&P Global Market Intelligence, compared to only 2% in the previous survey conducted in October last year.
China reported unexpectedly strong credit growth for February, with money supply growing at the fastest pace in nearly 7 years, as the authority looks to support the economic recovery.
Since China downgraded the control measures COVID-19 on January 8, the country has logged 39.72 million cross-border passenger trips and 2.49 million cross-border transportation vehicles (ships, aircraft, and trains), surging 112.4% and 59.3%, respectively, from a year earlier.
Hotels near top tourist attractions in major cities have been fully booked for May 1, the first day of the Labour Day holiday, according to online travel agency Trip.com.
The number of travelers has increased by 82% in the past two weeks (Feb 19 – Mar 4), compared to the previous two weeks (Feb 5 – 18), according to data from online travel agency Tuniu.
Chinese financial hub Shanghai’s second-hand housing transaction volume reached 19,000 units in February, reaching the highest level since July 2022.
China’s foreign exchange reserves fell to $3.13 trillion in February, according to data released by the PBOC, a decrease of $51.3 billion
China’s coal imports in the first two months of 2023 surged 71% from a low base a year earlier amid stock replenishment on expected of rising demand after the country ended its zero-COVID policies.
In the first two months of the year, ASEAN remained China’s largest trading partner with bilateral trade reaching 951.93 billion yuan, a rise of 9.6% from a year earlier and accounting for 15.4% of China’s total foreign trade, according to China’s customs data on Tuesday.
China’s exports of mechanical and electrical products reached 2.03 trillion yuan in the first two months of the year, an increase of
China’s total import and export, in US dollar terms, totaled $895.72 billion in the first two months of the year, a decrease