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Two of China's major cities, Suzhou and Shanghai, followed Guangzhou in easing home-buying restrictions, in an effort to boost property sales as persistent weakness in confidence delays a recovery in the crisis-hit property sector. The eastern city of Suzhou completely relaxed home buying restrictions for new and resale home markets, according to state media The Paper on Tuesday.
China's local governments issued a net 3.96 trillion yuan in special bonds in 2023, data from the Chinese finance ministry showed on Tuesday. In December alone, local governments issued... -January 29, 2024 at 08:16 pm EST - MarketScreener
The U.S. and China launched a joint counter-narcotics working group on Tuesday in the first overt sign of cooperation in tackling the spread of fentanyl since late 2019, before bilateral relations between the superpowers soured. It follows a key summit in San Francisco in November where U.S. President Joe Biden and Chinese leader Xi Jinping agreed to work to curb fentanyl production and export, in a major breakthrough. The U.S. has said China is the primary source of the precursor chemicals synthesised into fentanyl by drug cartels in Mexico.
Profits at China's state-owned firms rose 7.4% in 2023 from a year earlier to 4.6 trillion yuan , the Chinese finance ministry said on Monday. The growth accelerated from a 7% gain in... -January 28, 2024 at 09:17 pm EST - MarketScreener
China's manufacturing activity in January likely shrank for the fourth straight month though at a slower pace than in December, a Reuters poll showed, indicating the country's sprawling sector was still struggling to regain momentum at the start of 2024. The National Bureau of Statistics will release the PMI data on Wednesday, providing the first official snapshot of how the world's No.2 economy has started off the new year after a shakier-than-expected post-COVID recovery. To spur growth, China's central bank governor Pan Gongsheng unexpectedly announced a cut to banks&#...