China Business Now

CBN丨China’s yuan loans expand amid stable economic recovery

China's August new bank loans exceed expectations as financial support for real economy increases.

 

https://m.21jingji.com/article/20230912/herald/f911678e0eea8d89d118d5e505267fc1.html

CBN丨Renminbi grows as PBOC pledges decisive action to prevent overshooting

China escalated its defense of the yuan by delivering a strong verbal warning to speculators and forceful guidance to investors with its daily reference rate, measures that pushed the renminbi up from a 16-year low.

 

https://m.21jingji.com/article/20230911/herald/b57312f08313a9375e4f411935917b2c.html

CBN Friday Special丨Coffee with a kick takes China’s coffee wars to a whole new level

Luckin Coffee is once again creating a stir with an unusual offering to capture the attention of Chinese coffee drinkers: lattes with a nip of Kweichow Moutai’s baijiu.

The coffee chain partnered with China’s luxury liquor maker to launch an alcohol-infused coffee drink, the so-called “sauce-flavored latte.” Luckin Coffee hailed the success of its new collaboration with Kweichow Moutai, with more than 5.42 million cups of its baijiu-infused latte sold in its debut and sales hitting 100 million yuan a day, setting a new sales record for the Chinese coffee chain. 

 

https://m.21jingji.com/article/20230908/herald/575f38ce6a40a8ad2479f3a24f5506e5.html

 

CBN丨China’s foreign trade’s declines narrowed in August

Between January and August, China's exports grew by 0.8% year-on-year to reach 15.47 trillion yuan, while imports were down 1.3% year-on-year to 11.61 trillion yuan, latest customs data showed.

 

https://m.21jingji.com/article/20230907/herald/6f44e59645475abd89404cb62c0efa6c.html

CBN丨China, Indonesia share similar visions, common interests: Chinese premier

Chinese premier hails strong China-ASEAN ties at the opening of 26th China-ASEAN Summit.

Li said "China and ASEAN have succeeded in blazing a correct path of long-term good-neighborliness and friendship, as well as common development and prosperity as the world is undergoing profound changes unseen in a century," in his opening remarks at the China-ASEAN Summit in Jakarta 

 

https://m.21jingji.com/article/20230906/herald/3c236d415950671aac6caf2952c2c919.html

CBN丨Bustling CIFTIS fair attests to China’s foreign investment magnetism

Introducing new products, services, and technologies; announcing cooperations with Chinese partners and exchanging ideas at forums -- the hustle and bustle of foreign exhibitors at the ongoing 2023 China International Fair for Trade in Services (CIFTIS) has painted an inspiring picture of China's foreign investment magnetism.

 

https://m.21jingji.com/article/20230905/herald/ae3a992b9ca4bc311437ab90f63e7828.html

CBN丨China establishes bureau for private economy development

China has set up a bureau under the country's top economic planner specializing in promoting the private economy. 

 

https://m.21jingji.com/article/20230904/herald/ba1129b8cac08f808bf5252f4e76cdda.html

CBN Friday Special丨Is C-beauty brands getting a facelift amid consumer backlash of Japanese imports?

Chinese consumer sentiment towards Japanese products, notably cosmetics, is undergoing a dramatic shift recently due to rising safety concerns. 

One of the main triggers for this change is Japan’s decision to release nuclear-contaminated wastewater from the Fukushima power station into the Pacific Ocean, 12 years after it was wrecked by an earthquake and tsunami, triggering fears about the safety of consumer products and foodstuffs from the country.  

Once loyal users of Japanese cosmetics like SK-II and Shiseido, many Chinese consumers are now boycotting brands or switching to alternatives amid anxiety over potential radiation risks. 

 

https://m.21jingji.com/article/20230901/herald/2416a6bbbde291d245d17275792f2adf.html

CBN丨China’s manufacturing PMI improves in August

China's official manufacturing purchasing managers' index (PMI) continued to improve in August, marking the third consecutive monthly increase though the index remains in contraction.

 

https://m.21jingji.com/article/20230831/herald/c383444f0911fa0e005bc39eb12c6155.html

CBN丨Chinese banks to cut existing mortgage rates

China's State Council has released a plan to boost the high-quality development of a sci-tech innovation cooperation zone jointly developed by the southern tech hub Shenzhen and the Hong Kong SAR. The Development Plan for Shenzhen Park of Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone comprises a total of 30 measures, covering such areas as the development positioning, objectives, overall layout and infrastructure layout of the Shenzhen Park, as well as the collaboration with Hong Kong to promote international I&T development. 

 

https://m.21jingji.com/article/20230830/herald/a08a4195fbe34f8246e578e64e71bd69.html