China Business Now

CBN丨Housing sector showing signs of spunk with cities lowered mortgage rates

As China established a dynamic mortgage rate adjustment mechanism for first-time home buyers, more and more cities cuts the interest rates of housing loans after the spring festival. 

 

https://m.21jingji.com/article/20230201/herald/7f1ee1a4af5a85912dcd0b7358fc020f.html

CBN丨China’s manufacturing, services activities return to expansion territory in Jan: NBS

China’s factory and services activity bounced back in January in the first sign of economic recovery after Beijing optimized its Covid response. The official manufacturing purchasing managers’ index (PMI) rose to a four-month high of 50.1, up from 47 in December, according to the National Bureau of Statistics (NBS), returning to expansion territory for the first time since September 2022.

 

https://m.21jingji.com/article/20230131/herald/54f81f9bc8fbcebae44d5f9205474fe6.html

CBN丨“Lying flat” isn’t an option: Guangdong must strive for high-quality development

China's southern economic powerhouse of Guangdong must harness "high-quality development" if it is to overcome risks and its limits on growth, while “lying flat" - a reference to giving up - was not an option and the only way to respond to external competition and uncertainties was to modernise and aim for quality.

 

https://m.21jingji.com/article/20230130/herald/9152a70ef49fb4a00e699f276287a232.html

CBN丨China unveils 15 measures to boost development of smaller businesses

China’s Ministry of Industry and Information Technology (MIIT) issued a total of 15 measures to further stabilize growth and adjust structure of small and medium-sized enterprises (SMEs).

To further stabilize the growth and expectations, the ministry rolled out seven initiatives including financing support, expanding demand as well as ensuring supply and stabilizing prices of bulk raw materials, vowing to stimulate the vitality and confidence of market players.

 

https://m.21jingji.com/article/20230116/herald/981605f52f3a2371901cd4afdfcf9e4e.html

CBN丨China’s inflation up 2% in 2022

China's consumer price index, a main gauge of inflation, grew by 1.8% year-on-year in December, up from 1.6% in November, the National Bureau of Statistics said on Thursday. The country's full-year consumer inflation rose by 2% year-on-year, according to the National Bureau of Statistics.

CBN丨China’s new yuan loans rise in 2022

China's new yuan-denominated loans totaled 21.31 trillion yuan in 2022, up 1.36 trillion yuan year-on-year. In December alone, new yuan loans stood at 1.4 trillion yuan, up 266.5 billion yuan year on year, according to the People's Bank of China (PBOC).

CBN丨Cities in “1-trillion-yuan GDP club” expect faster growth in 2023

Local governments in China are setting annual growth targets of above 5% this year, mapping out their economic blueprints amid expectations of a notable rebound.

Of the 24 cities with GDP of more than 1 trillion yuan last year, eleven had released GDP targets for 2023, aiming at increases of between 5% and 7%.

CBN丨Pfizer’s Paxlovid fails to enter China’s medical insurance due to high price

China has decided not to include Pfizer’s oral Covid-19 drug Paxlovid in the national medical insurance catalog because of its high price.

CBN丨China to cancel inbound quarantine for international arrivals from Jan. 8

China has dropped quarantine requirements for all passengers arriving from outside of the country’s borders starting on January 8, 2023, in a major step toward opening up the country’s borders that have been largely shut for the last three years.

CBN丨Politburo focused on economic recovery

China will work harder next year to coordinate its pandemic response and socioeconomic development, comprehensively intensify reform and opening-up, boost market confidence and expand domestic demand.

 

https://m.21jingji.com/article/20221208/herald/4376c0af728c38e10cee688c0e27d070.html