Gold purchases in China rose by 5.9 per cent in the first quarter compared with the same period in 2023, as consumers seek security in ‘the only safe asset’, analysts said.
State news agency rejects allegations that Chinese EV firms are exporting a glut of electric vehicles.
The measures effective from Monday range from the removal of restrictions on homebuyers to support for the funding needs of developers.
Creating enough jobs for its young people remains a daunting challenge for Beijing, with the key private sector struggling to shake off scars of the coronavirus pandemic.
Billionaire Elon Musk flew into Beijing on Sunday, meeting Premier Li Qiang and hoping to bring Tesla’s autonomous driving technology to China amid intensified competition with local electric vehicle makers.
China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.
China is demanding more and better research to unearth the technology of tomorrow – but a research culture based around titles and participation in certain programmes is limiting the potential of its scientists.
Air China will start to add international flights from Sunday, while bookings ahead of May Day holiday have surged, but flights to US are having a sluggish recovery.
China’s yuan has lost more value against the US dollar as interest rate cuts have yet to materialise, leading exporters to find whatever alternative assets they can until exchange differentials subside.
Team led by a group of Chinese researchers cloned a specific gene that is resistant to Asian soybean rust amid Beijing’s focus on food security and tech self-reliance.
A new type of rapeseed engineered in China can improve upon yields by 50 per cent, increasing the domestic harvest of edible oil and lessening the country’s reliance on imports.
China is reviewing amendments to laws governing statistics and accounting, with Beijing eager to clamp down on inflated or manipulated economic statistics and uphold rules in the world’s second-largest financial market.
China is readying a revision of its law on money laundering, signalling a hardening of penalties for financial crimes and a desire to keep practices in line with international standards.
‘Private firms are obviously looking at the torch that is potentially coming for themselves,’ when it comes to declaring emissions goals, says Net Zero Tracker project leader
Police in northern China have detained five people for allegedly colluding to steal about 10,000 tonnes of corn amid Beijing’s increasing focus on food security.
The plan would next be submitted to the relevant ministries in each of the 21 member economies of Apec before appearing on the agenda of the Apec Leaders’ summit in Lima in the week of November 10.
The People’s Bank of China has indicated its approval for trading treasury bonds on the secondary market, signalling more robust action to boost liquidity and fuel growth is no longer out of the question.
Taiwan’s exports to the US in the first quarter beat shipments sent to mainland China, with analysts pointing to a ‘strategic plan’ by Washington to construct and lead a world supply chain and market order.
Reports suggest US has discussed sanctions on some Chinese banks over their trade with Russia, but analysts say moves to remove China from the Swift interbank financial system could create a ‘huge problem’ for global trade.
Further discounts offered by carmakers in a price war in mainland China’s electric vehicle market could ensnare even the likes of top seller BYD, Goldman Sachs says.
Chinese farmers are keeping the fewest pigs for breeding since 2020, raising hopes of sustained profitability after years of losses. But the turnaround may not speak to the broader economy, analysts say.