China has announced an action plan to reduce food loss and waste. It came days after President Xi Jinping delivered a speech at the Group of 20 summit in Brazil, declaring that China was joining the Global Alliance Against Hunger and Poverty and would remain a committed host of the International Conference on Food Loss…
China’s draft legislation to promote the private economy needs urgent refinements, including penalties for law-enforcement agencies overstepping their authority and infringing on the rights of businesses, a former State Council official has said. Former deputy director of the industry, commerce and trade research department Chen Yongjie pointed out that entrepreneurs felt that clauses in the…
In recent weeks, expectations of China unleashing a major stimulus reached a crescendo as the top brass of China’s major economic ministries and commissions took turns appearing on stage in the State Council’s press conference hall. After an initial larger-than-expected monetary package unveiled in the last week of September, some market players voiced disappointment at…
China’s Ministry of Finance held a press conference on Saturday morning. Officials spoke about defusing local debt risks and stabilising the property market, adding the central government “has room” for further action and higher deficits. A specific figure for fiscal stimulus was not revealed. The conference followed announcements of broad plans from other state bodies,…
A gauge of interbank borrowing costs in Hong Kong dropped for the first time in 13 sessions as local stocks retreated following a rally fueled by China’s stimulus blitz. The one-month Hong Kong Interbank Offered Rate fell 19 basis points to 4.42% on Wednesday. The rate had been on the rise as demand for the…
The window for a fiscal expansion to aid in China’s economic recovery might be narrower than previously thought, analysts said, as any new round of stimulus would need to be approved by the nation’s top legislature – a body whose governing committee has a meeting scheduled for later this month. Officials of the National Development…
Alexis Demarco / picture alliance via Getty Images Men at a silver mine in Bolivia earlier this year. Key Takeaways Mining company stocks sank Tuesday after China’s latest moves to boost its economy fell short of a hoped-for major stimulus package. The country’s economic planning agency maintained that China still expects to meet its annual…
China’s most powerful stock rally in a decade rose out of desperation, but can dissipate just as quickly if met with nothing but empty words. As of Monday, the benchmark MSCI China and CSI 300 indices gained 36% and 27% from their recent lows after top policymakers promised a barrage of stimulus measures at the…
The explosive Chinese stock rally over the last month finally lost steam today after a press conference by Chinese officials failed to sustain investor exuberance over previously announced stimulus measures. Shares of the electric carmaker Li Auto (NASDAQ: LI) traded nearly 7.5% lower as of midday, while shares of the search giant and artificial intelligence…
(Bloomberg) — Iron ore slumped from a five-month high and base metals fell, as a much-anticipated briefing by China’s top economic planner ended without new pledges to boost government spending. Most Read from Bloomberg Officials from the National Development and Reform Commission offered little to investors who had been expecting aggressive stimulus measures to add…