Business News Asia
The Caixin/S&P Global survey has reported that China’s Purchasing Managers’ Index (PMI) has risen for the first time in five months, supported by a recovery in spending and tourism after the Chinese government lifted coronavirus measures to zero. This has…
The COVID-19 measures and the real estate crisis in China have taken a toll on local government finances, causing agencies across the country to shoulder massive debt. Some cities are now struggling to provide basic services, and there’s a rising…
China’s manufacturing sector saw a slight recovery in January, according to the Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI), which rose to 49.2 from December’s 49.0. This was supported by the Chinese government’s lifting of COVID-19 control measures, which relieved pressure…
The National Bureau of Statistics (NBS) of China has reported a 4% year-on-year decrease in the profits of industrial firms in 2022, due to the consequences of strict COVID-19 containment policies and a sluggish real estate market. According to the…
China’s National Bureau of Statistics has reported that the country’s manufacturing purchasing managers’ index (PMI) rose to 50.1 in January, stronger than the expected 49.8, marking the first expansion in the manufacturing sector since September 2022. The services PMI also…
China’s cabinet has taken steps to boost consumption and imports as a means of revitalizing its economy in the face of slowing global demand and major economies potentially facing a recession. During a cabinet meeting, the government committed to accelerating…
The Ministry of Culture and Tourism of China reported that the volume of domestic travel during the Lunar New Year holiday reached 308 million trips, marking a 23.1% year-on-year increase. Furthermore, the domestic tourism revenue during the 7-day Chinese New…
China’s real estate stocks suffered a sharp decline today as reports showed a drop in home sales during the recent Lunar New Year holiday. This signals that China still faces challenges in resolving its real estate crisis. According to the…
China’s smartphone sales fell 13% in 2022, marking the biggest drop in the past ten years due to consumers being wary of spending, according to a report by IDC, a market research firm. The total smartphone sales in the country…
China’s Ministry of Transport has reported that the number of passenger trips reached 35.3 million on the fifth day of the seven-day Lunar New Year holiday, up 73% from the previous year. Despite the increase, travel is still 38.2% below…
