Nomura further cut its forecast of China’s GDP growth in the second quarter of 2022 to 0.3% year over year from its previous forecast of 1.8%, and cut the estimate of China’s 2022 GDP growth to 3.3% from 3.9%.
Chinese Premier Li Keqiang pledged to further smooth transportation and logistics system to ensure market entities’ operations and stabilize the economy, according to the official Xinhua News Agency.
The National Press and Public Administration (NPPA), China’s gaming regulator, granted publishing licenses to 60 games, which included titles belonging to developers such as Perfect World and Mihoyo, according to a list published on Tuesday.
Daily container throughput at the Port of Shanghai has recovered to more than 95% of the normal level, the state-run Shanghai Securities News reported on Tuesday, citing industry insiders, a week after the financial and commercial hub lifted Covid-19 lockdown.
State-owned construction and engineering giant China Railway Construction is selling its 49% stake in a subsidiary of embattled property developer China Evergrande Group, with asking price at 2.6 billion ($400 million), according to the information from the China Beijing Equity Exchange.
Morgan Stanley added PetroChina and Meituan to the China/ HK Focus List, while deleting SD GOLD and Nanshan Aluminium.
At least two large Chinese investment banks as well as some foreign banks are reportedly planning to lay off staff amid a difficult environment for new listings in Hong Kong, according to several local news outlets.
Global smart speaker and smart display shipments declined 5% year-over-year to 35.3 million units in the first quarter of the year, only the second year-over-year decline in the history, according to the latest research from Strategy Analytics.
Oil companies are trading higher boosted by expectation of higher oil prices due to relaxing Covid restrictions in China, the effects of Russian crude oil sanctions and delays in the renewal of the Iran nuclear deal.
Shares of Chinese shipping companies stage a strong rally as shipping operations in the country continue to recover as Covid restrictions ease.
