China’s factory activity shrank for an eighth month in November while services activity cooled, highlighting the dilemma facing policymakers over whether to press ahead with tough structural reforms or roll out more stimulus to lift domestic demand. The manufacturing purchasing managers’ index (PMI) rose to 49.2 in November from 49.0 in October, the National Bureau…
China’s producer price deflation eased in October and consumer prices returned to positive territory, data showed on Sunday, as the government steps up efforts to curb over-capacity and cut-throat competition among firms. Despite the improvement in headline numbers, analysts warn that deflationary pressures on the world’s second-largest economy are not yet over, and the government…
China faces a confluence of strategic opportunities and challenges amid rising uncertainties and should “firmly grasp the strategic initiative,” President Xi Jinping said during a meeting on Beijing’s new five-year plan, state media reported on Friday. China should strive for breakthroughs in key technologies, Xi added, according to the official Xinhua news agency. The meeting…
China sought to ease licensing rules for gold imports and exports, as the world’s largest consumer of the precious metal continues to diversify its reserves away from US dollars. The country plans to expand the use of “multi-use permits,” a faster approval system, by increasing the number of ports that can accept them, according to…
When it comes to purchasing power parity (PPP), India is likely to become the world’s second-largest economy in PPP terms by 2038, a new report showed on Wednesday. PPP is effectively the ratio of the price of a market basket at one location divided by the price of the basket of goods at a different…