Chinese local governments’ special-purpose bond issuance in Oct hit highest this year, their total bond issuance so far 2021 hit new record driven by refinancing needs
Chinese local governments issued 644.1 billion yuan special-purpose bonds in October, the highest monthly level this year, according to data released by the Ministry of Finance on Tuesday. They issued a total of 876.1 billion…
China’s newborns fell 18% last year, birth rate hit new record low
Chinese mothers gave birth to only 12 million babies in 2029, down from 14.65 million in 2019, marking an 18% decline year on year and continuing the descent to a near six-decade low, while the national birth…
China’s home mortgage rates in major cities fell further in November, waiting time for loan approval shortened for first time since April
Average home mortgage rate for first-time home buyers in China’s 100 major cities declined to 5.69% in November, down by 4 basis point from the previous month, according to data from Beike Research Institute on…
PBOC says difficulties in maintaining stable economic operation is increasing, stresses policy stability
China’s central bank said it would keep its prudent monetary policy flexible and targeted and strike a balance between economic growth and risk preventions, according to the third-quarter monetary policy report released by the People’s…
China’s fiscal revenue fell for second straight month, revenue from land sales declined for 4th month in a row
China’s fiscal revenue declined on year in October for the second straight month as economic recovery slows, while fiscal spending returned to growth. In particular, the government’s revenue from land sales slid for the fourth…
China to guide lithium battery makers to strengthen innovation, cut back on projects for pure capacity expansion
China will guide lithium-ion battery and material companies to cut back on projects for “purely expanding production capacity”, and encourage them to step up technological innovation, improve product quality and reduce production costs, according to…
Chinese yuan hit near six-year high against basket currencies
China’s yuan hit a near six-year high against a basket of currencies. The trade-weighted CFETS RMB Index, which tracks the yuan against 24 other currencies, hit 101.88 on Thursday, the highest level since Dec. 9,…
Alibaba net income plummets 87％, with first adjusted profit decline in more than five years
Chinese e-commerce giant Alibaba Group reported an 87% year-on-year decline in net income for the September quarter, missing expectations as the company increased investment in its young business. Net income fell to 3.4 billion yuan ($524 million)…
China’s infrastructure investment remains weak, analysts say full-year growth could be lower than 1%
China’s infrastructure investment grew 1% year over year in the first ten months, slowing by 0.5 percentage points from the first three quarters, according to data released by the National Bureau of Statistics (NBS) this…
Chinese exchanges further tighten rules for LGFV bond issuance
Chinese exchanges further tightened rules for bond issuance by local government financing vehicles (LGFVs), with measures including limiting quota for LGFVs from certain regions and asking some LGFVs to cut sizes of bond issuance which…
China’s new construction starts tumbled over 30% on year in October amid cash crunch in real estate sector
Chinese property developers have slashed investment amid a sector-wide cash crunch and new construction starts, a leading indicator of real estate activities, slumped by more than 30% in October from a year earlier. According to…
China’s coal output returned to growth and hit highest this year in Oct after government measures to boost production
China’s coal output returned to growth in October and hit the highest level this year after the government took a series of measures to ensure coal supply to ease a shortfall and stabilize surging coal…
China’s crackdown on crypto mining continues, state-owned firms targeted
China’s top economic planner will launch a comprehensive crackdown on cryptocurrency mining, with focus on cleaning up state-owned companies’ and “industrialized and centralized” mining activities, said Meng Wei, spokesperson of the National Development and Reform…
China’s top steel production hub Hebei to cut crude steel output by over 20% in this heating season
North China’s Hebei province, the country’s top steel production hub, said steelmakers will be required to implement off-peak production in the heating season from November 15 this year to March 15 next year, which will…
China’s housing market weakened further in October, 90% of major cities saw resale prices drop on month
China’s housing market weakened on all fronts in October, as declines in home prices, sales and property investments widened. Analysts say that there may be a “bottom” by early next year as authorities adjust policies…
China’s steel futures fell nearly 30% in a month, daily crude steel output in Oct hit new low since Dec 2017
China’s steel futures tumbled by nearly 30% in a month amid weakening demand and falling costs and industry insiders see more weakness in the rest of the year. China’s most-traded construction steel rebar futures contract…
China’s industrial output grew at faster pace in October, retail sale growth accelerated, while investment slowed further
China’s industrial output grew 3.5% in October from the same period a year ago, data released by the National Bureau of Statistics (NBS) showed on Monday. That accelerated from a 3.1% increase in September and…
Several property developers announced plans to issue debt, fuelling expectation for easing financing for the struggling sector
Some Chinese property developers recently announced plans to issue debts, fuelling market expectations for easing financing amid a sector-wide cash crunch. China Merchants Shekou Industrial Zone Holdings Co., Ltd, an industrial property developer, plans to issue…
