Hong Kong revised growth expectations to the lowest end of its previous forecast, showing mounting pressures from weaknesses in exports and consumption. The city changed its 2024 growth forecast to 2.5% from a range of 2.5%-3.5% estimated in August, the Census and Statistics Department said Friday. The adjustment suggests expansion will slow from last year’s…
Hong Kong’s economic growth forecast for 2024 has been downgraded to 2.5 per cent after a weaker-than-expected third quarter expansion of 1.8 per cent year on year. The latest official data released on Friday showed the full-year forecast was at the lowest point of the government’s previous range of between 2.5 and 3.5 per cent…
Hong Kong’s economic growth this year is expected to be near the lower end of its forecast range, Financial Secretary Paul Chan said in his weekly blog. The city’s government released a forecastBloomberg Terminal in August saying this year’s growth would be in the range of 2.5% to 3.5%. It’s set to announce full-year economic…
HSBC, the biggest commercial bank in Hong Kong, lowered its prime lending rate for a second time this year, trimming borrowing costs for consumers and businesses. Bank of China’s local unit matched the move, and other lenders are expected to follow suit. The UK banking group will trim its prime rate by 25 basis points…
An expanded US-China trade war during President-elect Donald Trump’s second term could slash the Asian nation’s economic growth by two percentage points and prompt Beijing to stimulate domestic demand, according to Macquarie Group Ltd. Trump’s campaign vow to raise tariffs on Chinese goods to 60% could cause the nation’s exports to decline by about 8%…
With the weeks running down on 2024, Chinese policymakers are already in a position to declare “mission accomplished” on their (almost) decade-long Made in China 2025 project. Despite headwinds including major tariff hikes by successive US administrations, the worst domestic housing slump in modern times and an increasing fragmentation of the global economy into competing…
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is,…
Recent strength in Hong Kong’s economy petered off in the third quarter, with growth at 1.8 per cent year on year, prompting a coming revision of the government’s full-year forecast in the middle of November. The Census and Statistics Department, which released advance estimates on Thursday, said it would revise the gross domestic product (GDP)…
Welcome to our guide to the energy and commodities markets powering the global economy. Today, reporter Dan Murtaugh explains China’s rising electricity demand and what that means for its green goals. Meanwhile, US tax breaks are funding China’s dominance in solar. To get this newsletter in your inbox, you can sign up here. Surging Chinese…
Chinese stocks, once indispensable to global funds and later deemed uninvestable by others, are back on the radar of investors after years of being ignored. While caution remains, optimism abounds after a US$4.5 trillion rally in the past month. That is the assessment of Kinger Lau, a managing director in Hong Kong and chief China…