The People’s Bank of China (PBOC) will maintain the Chinese yuan’s exchange rate at a reasonable and balanced level and use multiple monetary policy tools to ensure ample liquidity in the financial system.
China will promote high-quality opening of the capital markets, expand the Mainland – Hong Kong Stock Connect scheme and establish a mechanism for regular cooperation on audit supervision between Chinese and US to create a more stable and more predictable environment for international regulatory cooperation, said the China Securities Regulatory Commission (CSRC).
China’s fiscal revenue grew by 24.6% in November from a year earlier, accelerating by 9 percentage points from the previous month, improving for the fourth consecutive month.
China’s postal parcel collection volume declined by 13.3% on December 12 from the previous day, while parcel delivery volume dropped by 1.2%.
>>>
The World Bank has cut its China growth outlook for this year and next, citing the impact of the abrupt relaxation of COVID-19 restrictions and persistent stress in the real estate sector.
>>>
China is likely to roll out the Financial Stability Law in 2023 and relevant legislative efforts by the National People’s Congress are underway, said Liu Guoqiang, vice-governor of the PBOC, at a press conference on Saturday.
>>>
“The real estate sector is one of China’s pillar industries and there can’t be big ups and downs,” said Liu Guoqiang, a vice governor of the PBOC, at a press conference on Saturday.
>>>
>>>
China’s economic growth will accelerate next year as stimulus policies take effect, said Han Wenxiu, an official at the Communist Party of the Central Committee for Financial and Economic Affairs.
>>>
A total of 10,361 cinemas in China were in operation as of Saturday, accounting for 82.86% of the total, and according to data from Chinese ticketing platform Maoyan.
China’s annual Central Economic Work Conference was held in Beijing from Thursday to Friday as Chinese leaders decided on the priorities for the economic work in 2023, according to China’s official Xinhua News Agency.
The US government added Chinese memory chipmaker YMTC and 21 “major” Chinese players in the artificial intelligence chip sector to a trade blacklist.
China’s retail sales declined by 5.9% in November from a year earlier, according to the National Bureau of Statistics, weakening for the fourth consecutive month and compared to the 0.5% drop in the previous month.
China’s industrial output grew by 2.2% in November from a year earlier, according to the National Bureau of Statistics, compared to the 5% growth in the previous month and expected 3.6% rise.
>>>
China’s home prices in major cities declined further in November from the previous month, with drops seen across tier-one, tier-two and tier-three cities.
COVID-19 infections was spreading “intensively” in China long before the lifting of zero-Covid policy, World Health Organization director Mike Ryan said on Wednesday.
>>>
China has invested more than 1 trillion yuan ($143.69 billion) in water conservancy construction this year as of the end of November, marking the highest on record
China said on Monday that a digital tool tracking cross-region travels will go out of service starting from Tuesday.
Several Chinese cities have taken measures, including issuing coupons, to boost consumer spending, aiming for a rapid consumption recovery after the country eased COVID-19 restrictions.
Chinese authorities may further soften their stance on real estate policies at its key economic meeting later this month, economist say.
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>>