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China’s financial hub Shanghai eyes “above 5.5%” GDP growth in 2023 after 3% growth last year
China’s financial hub Shanghai set its 2023 GDP growth target at “above 5.5%”, said mayor Gong Zheng in his government work report.
Key takeaways of statement of China’s annual Central Economic Work Conference
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.
China’s new bank loans rebounded in Nov, credit growth hit slowest since Oct 2021, household loans, corporate bond financing remained weak
China’s new bank loans rebounded in November from the previous month amid the government’s efforts to bolster the slowing growth, while the overall credit growth remained sluggish as household loans and corporate bond financing remained weak.
China unveils 19 policy measure to stabilize economy as recovery slows
China announced a package of 19 policy measures to tackle several economic challenges such as extreme weather and the struggling housing market, in the latest move to boost the economic recovery.
China’s mortgage rate hit record low, more cities lower down payment ratio for 2nd-home buyers to boost housing markets
China’s home mortgage rates hit the lowest on record after the central bank’s latest move to cut the benchmark lending rate to boost the faltering economy. An increasing number of cities are lowering downpayment requirement ratio to support the struggling housing markets.
Chinese Vice Premier Han Zheng calls for further efforts to ensure power supply as power crunch worsens
China’s power demand repeatedly breaks records and some regions are experiencing extreme hot weather and drought, said Chinese Vice Premier Han Zheng on Wednesday, adding that China is now in a critical stage to ensure power supply in the summer peak season.
China’s economic recovery slowed in July, infrastructure investment accelerated for third straight month
China’s economic recovery slowed in July, with several key indicators weakening from prior month, as the country experienced persistent Covid resurgence and high-temperature and rainy …
Four more major Chinese cities lower down payment ratio for second-home buyers to support sluggish housing market
Several more Chinese cities have relaxed property curbs, mostly lowering down payment requirement for current homeowners, in a move to support persistently sluggish housing market.
China’s consumer inflation hit two-year high, factory-gate inflation hit 17 month low
China’s consumer price index hit a two-year high in July as pork prices rebounded, according to official data released Wednesday. The headline consumer price index …