Hong Kong leader John Lee unveiled a promotion campaign that will include 500,000 free flights to lure visitors, businesses and investors back to the city after more than three years of tough COVID-19 curbs.
China’s economic activity returned to expansion in January as the impact of COVID-19 outbreaks eased rapidly after the world’s second largest economy dropped its zero-Covid policy.
Chinese industrial companies’ profit dropped by 4% to 8.4 trillion yuan ($1.2 trillion) in 2022, expanding from the 3.6% fall in the first 11 months of 2022, according to data released by the National Bureau of Statistics (NBS) on Tuesday.
China’s fiscal revenue reached 20.37 trillion yuan in 2022, rising by 0.6% from the previous year, according to data released by the Ministry of Finance on Monday.
Hong Kong’s exports plunged by 28.9% in December from a year earlier, according to data released by the Census and Statistics Department, marking the steepest drop since the 1950s, extending an eight-month streak of declines.
China’s GDP growth for 2022 hit one of the lowest levels in nearly half a century as the world’s second largest economy
China’s December exports declined at the fastest pace since March 2020 amid sluggish overseas demand, highlighting risks to the country’s economic recovery, while imports fell at a slower pace, suggesting that domestic demand may slowly recover in coming months.
South China’s Guangdong province, one of the country’s economic powerhouses, is expected to have reached 12.8 trillion yuan in 2022, growing by
China’s consumer price grew at a faster pace in December driven by rising food prices while producer price index declined by a
China’s financial hub Shanghai set its 2023 GDP growth target at “above 5.5%”, said mayor Gong Zheng in his government work report.
China’s new banks loans rose in December from the previous month, mainly driven by the pick-up in corporate loans, and the full-year banking lending in 2022 hit a new record high after the authority introduced a series of policy measures to boost the Covid-hit economy.
Infections have been declining in China’s capital city of Beijing and several provinces, showed a summary by Health Times, a publication managed by the official news paper People’s Daily.
A total of 18 provinces and cities have so far disclosed plans to issue local government bonds in the first quarter, with
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China is expected to see about 2.095 billion passenger trips during the 40-day Spring Festival travel rush (Jan 7 – Feb 15),
China will coordinate fiscal policy tools such as fiscal revenue, fiscal deficit, etc., and appropriately increase fiscal spending to boost economic recovery, said Finance Minister Liu Kun.
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The winter Covid-19 outbreaks might have passed the peak in major Chinese cities, but the country is expected to see several more waves, including in rural areas, according to a domestic research.
The Covid outbreaks in the capital of Beijing has peaked, the first Chinese city to reach this point since the country dropped its zero-Covid policy.
China will scrape quarantine requirement for inbound travellers starting on January 8, the National Health Commission said in a statement late on
East China’s Zhejiang province, a major economic powerhouse neighbouring the financial hub of Shanghai, is currently seeing more than one million new
China’s Jiangxi province is expected to see a peak of Covid infections in early January next year, while most regions in Anhui are expected to see Covid-19 outbreaks hit a peak by the end of this month, said local authorities.
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’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%.
Several regions in China have allowed people infected with Covid-19 but having no or mild symptoms to go back to office.
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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.
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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.
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.
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China on Wednesday released a plan aimed at expanding domestic demand and bringing consumption and investment to a new level by 2035, as the world’s second largest economy struggles with COVID and weakening external demand.
The number of flights at Chinese capital city Beijing’s two airports is expected to reach 70% of 2019-level in the near future, North China Region Administration of the Civil Aviation Administration of China said on Sunday.
Mainland China is reportedly considering a trail program fro border reopening with Hong Kong as early as next month, and some say quarantine-free trips with purposes of public services and businesses likely to be resumed this month.
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.
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