Chinese stocks rallied on Monday after the country signaled a more aggressive approach to stimulus next year. Beijing’s top leaders revealed they will embrace a “moderately loose” monetary policy and a “more proactive” fiscal policy, according to China state media Xinhua News Agency. “Relative to the low market expectations prior to the meeting, we view…
(Bloomberg) — Chinese Premier Li Qiang pledged Beijing will do everything possible to boost domestic consumption in an effort to support the country’s economic growth. Most Read from Bloomberg China will strengthen countercyclical measures and step up implementation of macroeconomic policies to shore up the economy, Li said Monday at a meeting in Beijing with…
Hong Kong Stocks Stage Late Rebound as China Pledges Spark Stimulus Hopes Hong Kong’s Hang Seng Index closed 2.8% higher at 20414.09, reversing morning losses. China’s Politburo pledged to boost domestic demand, and stabilize housing and stock markets. It also said the main annual economic, social development targets will be accomplished, the state-run Xinhua News…
Language serves as a mirror of society. This year’s buzzwords in mainland China undeniably reflect the essence of our times. They primarily signify the advent of the intelligent era, where the younger generation – especially those born after 2000 – has become the focal point of social attention, while the elderly have emerged as a…
Hong Kong’s leader has fired his tourism and transport ministers, Kevin Yeung Yun-hung and Lam Sai-hung, in an unexpected move, a national news agency has said. According to Xinhua News Agency, the State Council approved the move on Thursday based on the recommendation of Chief Executive John Lee Ka-chiu to replace the secretary for culture,…
Chinese President Xi Jinping is promoting the idea of a “shared future in cyberspace” at the country’s annual internet conference this year amid an intensifying US-China rivalry that has raised concerns about technological decoupling, particularly in artificial intelligence (AI) and semiconductors. The advance of AI technologies has improved humans’ ability to change the world, but…
Beijing is worried that Hong Kong developers’ tepid response to local megaprojects may further erode investor confidence and this was why a top central government official took on the task of cajoling the private sector on behalf of city authorities, political analysts have said. Economic and property specialists said the central government’s “explicit” call to…
As the polling sites across the U.S. started counting votes Tuesday in the highly contested U.S. presidential race, China’s state-run Xinhua News Agency published a satirical video titled “Presidential Election Victory Speeches of the Divided States of America.” Posted on social media platform X, Xinhua’s video lampooned President-elect Donald Trump and his opponent, Vice President…
China’s top legislative body reviewed a bill on local debt swaps on Monday, the first of several actions expected to be taken this week to reduce fiscal risks and shore up the national economy. Finance minister Lan Foan delivered the proposal to the National People’s Congress Standing Committee, the official Xinhua News Agency reported. The…
A view of the Central Business District in Beijing. | Photo Credit: AP Chinese President Xi Jinping and other top leaders admitted on Thursday that the world’s second-largest economy was facing new “problems” and vowed to resolve a long-running crisis in the housing sector. Beijing has this week unveiled a raft of measures to boost…