Chinese consumers cut back on spending on everything but travel & restaurants this month, contributing to sluggish revenue growth in the country’s key economic sectors, according to China Beige Book, a US-based data provider.
#China #ChinaEconomy
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#China #ChinaEconomy
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cnbctv18.com
China consumer spending slows, reining in growth: Survey
Almost every major sector experienced a weakening in both revenue and profit margin compared with June, led by a steep slide in retail, according to China Beige Book, a US-based data provider.
China witnessed contraction in its factory activity in July for the fourth-consecutive month, while the country's non-manufacturing activity slowed down to its weakest in 2023.
#China #ChinaManufacturing #ChinaPMI #ChinaPMIData
https://www.cnbctv18.com/economy/china-manufacturing-pmi-july-2023-factory-activity-decline-fourth-straight-month-decline-17380811.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
#China #ChinaManufacturing #ChinaPMI #ChinaPMIData
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cnbctv18.com
China reports decline in factory activity for fourth-straight month
China's manufacturing purchasing managers' index came in July came in at 49.3, conpared to 49.0 in the previous month, according to data released by China's National Bureau of Statistics on Monday.
Hours after China's top legislature convened a special meeting last week to remove foreign minister Qin Gang, photos and mentions of the 57-year-old started disappearing from his former ministry's website.
#China #QinGang
https://www.cnbctv18.com/world/not-found-china-ex-foreign-minister-is-gone-but-wait-for-explanation-goes-on-17393071.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
#China #QinGang
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cnbctv18.com
'Not found': China's ex-foreign minister is gone but wait for explanation goes on
Qin Gang does not feature on the website's list of "former ministers" and a search for his name turns up: "Sorry, Qin Gang is not found."
The founder of Apple Inc’s key Taiwan-based supplier Foxconn Technology Group said US equities would tumble in the wake of any war involving the island that China claims as its territory.
#Foxconn #China #UnitedStates #Taiwan
https://www.cnbctv18.com/world/foxconn-founder-terry-gou-us-stocks-crash-in-case-of-taiwan-war-17418251.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
#Foxconn #China #UnitedStates #Taiwan
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cnbctv18.com
Foxconn founder Terry Gou says US stocks would crash in case of a Taiwan war
“It may only take 10 seconds — not an hour or a month — for the Wall Street stock market to collapse if a war breaks out in the Taiwan Strait,” Taiwanese billionaire and founder of Foxconn Terry Gou said in a Facebook post.
China is experiencing a rare period of falling prices, instead of rapid price gains predicted by a few economists at the beginning of the year.
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#China
https://www.cnbctv18.com/economy/china-deflation-threat-grows-as-companies-cut-prices-to-survive-17460131.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
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#China
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cnbctv18.com
China deflation threat grows as companies cut prices to survive
Instead of rapid price gains predicted by some economists at the beginning of the year, China is experiencing a rare period of falling prices. That’s a clear contrast to the rocketing inflation that followed the reopening of the US and other major economies…
US President Joe Biden on Wednesday signed an executive order that will narrowly prohibit certain US investments in sensitive technology in China and require government notification of funding in other tech sectors.
#UnitedStates #China #JoeBiden
https://www.cnbctv18.com/technology/us-president-joe-biden-signs-order-to-ban-certain-tech-investments-in-china-17486491.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
#UnitedStates #China #JoeBiden
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cnbctv18.com
US President Joe Biden signs order to ban certain tech investments in China
The regulations will only affect future investments, not existing ones, an administration official told Reuters.
US President Joe Biden expressed concern that China’s economic and demographic problems have turned the world’s second-largest economy into a “ticking time bomb” that threatens the rest of the world.
#JoeBiden #China
https://www.cnbctv18.com/world/joe-biden-fears-china-is-ticking-time-bomb-posing-danger-to-world-17500991.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
#JoeBiden #China
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cnbctv18.com
Joe Biden fears China is ‘ticking time bomb' posing danger to world
“China has the highest unemployment rate going,” US President Joe Biden said, “So they got some problems. That’s not good because when bad folks have problems, they do bad things.”
If #Taiwan is safe then the world is safe and Taiwan will not back down in the face of authoritarian threats, the island's vice president told supporters on a US visit that Beijing has condemned, while reiterating a willingness to talk to #China.
https://www.cnbctv18.com/world/taiwan-will-not-back-down-to-threats-vice-president-says-during-us-trip-17519241.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
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cnbctv18.com
Taiwan will not back down to threats, its vice-president says during US trip
Taiwan's vice-president William Lai reiterated in New York that on the basic of dignity and parity he was "very willing" to talk to China and seek peace and stability, following Taiwan President Tsai Ing-wen's policies.
Chinese President Xi Jinping has resisted pulling the trigger on a major stimulus to revive the world’s second-biggest economy
The grim market reaction to a surprise rate cut shows investors want to see him take much bolder steps
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#China
https://www.cnbctv18.com/economy/xi-jinping-faces-tough-choices-after-surprise-china-rate-cut-17537091.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
The grim market reaction to a surprise rate cut shows investors want to see him take much bolder steps
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#China
https://www.cnbctv18.com/economy/xi-jinping-faces-tough-choices-after-surprise-china-rate-cut-17537091.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
CNBCTV18
Xi Jinping faces more tough choices after surprise China rate cut
The People’s Bank of China on Tuesday lowered the rate on its one-year loans — or medium-term lending facility — by 15 basis points to 2.5 percent, the steepest cut in three years. The move came shortly before the release of July data that showed weak consumer…
Global hedge funds have been "aggressively" selling Chinese stocks in the backdrop of heightened concerns over China's property sector as well as a weak batch of eocnomic data, a Goldman Sachs report highlighted.
#HedgeFunds #China #ChinaData
https://www.cnbctv18.com/economy/hedge-funds-aggressively-sell-chinese-stocks-as-growth-outlook-dims-17536951.htm?utm_source=telegramapp&utm_medium=social&utm_campaign=telegram
#HedgeFunds #China #ChinaData
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CNBCTV18
Hedge funds 'aggressively' sell Chinese stocks as growth outlook dims
"Hedge funds have net sold Chinese stocks in eight of the last ten sessions on the prime book through 8/14," Goldman Sachs said in a report, adding its clients divested both their long and short positions.