The Chinese national bureau of statistics reported on July 17, 2017 that the economy expanded in the second quarter of 2017 at an annual rate of 6.9%, same as in the first quarter.
The 6.9% rise is higher than preliminary forecasts by analysts of 6.8% rise.
China Credit Rating Downgrade
Moody's credit rating agency downgraded on May 24. 2017 China's credit rating from Aa3 to A1.
The downgrade reflects concern about the slowing economy and growing national debt.
The agency raised China's outlook from negative to stable.
The credit rating by other rating agencies is AA by S&P and A+ by Fitch.
China Interest Cut
The Chinese central bank cut on August 25, 2015 the annual loan interest rate by 0.25% to 4.65%. The interest rate cut by the central bank is the fifth cut since November 2014.
The bank also cut the ratio for cash reserves of the banks.
The new measures are aimed to increase the credit terms of the Chinese economy.
China Becomes the Biggest Economy
According to a release by the IMF China is now the world biggest economy surpassing the US.
The IMF estimates that China's GDP is $17.6tn compared to the US 17.4tn.
While in terms of GDP per person the US is about four times higher than China in terms of PPP, purchasing power parity, China takes the lead.
China Interest Rate Cut
The Chinese central bank cut on November 21, 2014 its one year loan rate by 0.4% down to 5.6%.
The one year deposit rate was cut by 0.25% to 2.75%, The loan rate cut is the first cut since July 2012.
The new reduced interest rate will help businesses to get cheaper loans.
China Stock Market Update
The Chinese authorities announced on November 10, 2014 that next week the Hong Kong stock exchange will be lined to Shanghai stock exchange.
The effect of the new decision is that purchase of Chinese stocks, estimated at Dollar 4.2 trillion, will be now allowed to foreign investors.
Before the new decision such purchase was forbidden for foreigners.
China Switzerland FTA
The free trade agreement, FTA, which was signed between the two countries on July 6, 2013 will enter into force on July 1, 2014.
In 2013 China was the largest buyer of Swiss industrial products in Asia.
The FTA will strengthen the position of Switzerland as a central business location.
China PMI October Increase
The manufacturing managers index, PMI, increased in October 2012 to 50.2 points compared to 49.8 points in September and 49.2 points in August.
The new PMI which exceeds 50 points is pointing to intensified activity of the Chinese economy.
China PMI Decrease
The Chinese manufacturing purchasing managers index, PMI, fell in August 2012 to 49.2 points compared to 50.1 points in July 2012, the lowest index in the last nine months and the first time since November 2011 of an index below 50 points.
In general an index below 50 points to a possible contraction in the manufacturing activity.
China's New Interest Rate Cut
The Chinese central bank surprised on July 5 , 2012 by deciding to cut the interest rate for the second time within one month.
The interest on deposits was cut by 0.25% down to 3.0% while the lending rate was cut by 0.31% down to 6.0%.
The new interest cut is aimed to further boost the Chinese economy growth.
China's 0.25% Interest Cut
The Chinese central bank cut on June7 , 2012 the Chinese one year lending rate by 0.25% down to 6.31%.
The dramatic cut which is the first since 2008 is aimed to boost China's economic growth.
China's 4.5% Inflation Rate
According to the Chinese National Bureau of Statistics the annual inflation in China accelerated to 4.5% in January 2012 compared to 4.1% in December and well above the analysts' forecast of 4.0%.
The hike follows five months of steadily easing rates following the 6.5% peak in July.
Fitch May Downgrade China's Rating
Fitch credit rating agency warned on September 8 that it may downgrade China's yuan debt rating from the current AA- within two years.
The warning follows worry regarding bad loans after record sums which were lent by Chinese banks in the last two years.
Fitch downgraded in April 2011 China's long term local currency debt outlook from stable to negative.
Chinese Reserve Ratio 0.5% Rise
The Chinese central bank decided to raise the banks' reserve ratio by 0.5% to 21.5%.
The rise, effective June 20 is the sixth rise this year.
The new decision is aimed to lower the volume of bank loans following concerns of the 5.5% May inflation, the highest in the last three years.
China's Interest Rate Rise
The Chinese central bank raised on April 6 the interest lending rate for one year from the previous 6.03% rate to 6.31%.
The one year deposit interest increased from 3% to 3.25%.
The current rise, which is the forth rise in about six months is aimed to cool the rising inflation which increased by 4.9% in February, higher than the bank's forecast of 4%.
China Credit Rating Upgraded
Moody's, one of the world biggest rating agencies, upgraded on November 11, 2010 China's government bond rating from A1 to Aa3 with a positive outlook.
Following China's GDP growth of 9.6% in the 3rd quarter compared to the same quarter in 2009 Moody's expects a 9%-10% growth of the Chinese economy in 2010 and a growth of 8%-9% in 2011.
|World Business News | Albania Business News | Australia Business News | Austria Business News | Azerbaijan Business News | Belgium Business News | Brazil Business News | Bulgaria Business News | Canada Business News | China Business News | Croatia Business News | Cyprus Business News | Czech republic Business News | Estonia Business News | Europe Business News | Finland Business News | France Business News | Georgia Business News | Germany Business News | Greece Business News | Hong Kong Business News | Hungary Business News | Ireland Business News | India Business News | Israel Business News | Italy Business News | Japan Business News | Latvia Business News | Lithuania Business News | Malta Business News | Mexico Business News | Montenegro Business News | Netherlands Business News | Panama Business News | Poland Business News | Portugal Business News | Qatar Business News | Romania Business News | Russia Business News | Serbia Business News | Singapore Business News | Slovakia Business News | Slovenia Business News | South africa Business News | South Korea Business News | Spain Business News | Sweden Business news | Turkey Business news | UK Business News | Ukraine Business News | US Business News | Vietnam Business News|
© All copyrights reserved