What happens to the world economy and global geopolitics in 2025 will depend significantly on China, the world’s largest exporter and second-largest consumer market. But prevailing assessments of China’s economic health are deeply flawed. The headlines in 2024 have been mixed. China’s GDP is growing, though the precise rate is always a matter of debate. … Read more
China’s leaders pledged on Thursday to open the country’s coffers wider and provide a much-needed jolt to domestic demand in a statement issued after this year’s central economic work conference. This would be accomplished, they said, by raising the fiscal deficit ratio and increasing the issuance of treasury bonds in the coming year. The world’s … Read more
Chinese Finance Minister Lan Fo’an. File | Photo Credit: AP “The Chinese government is looking at additional ways to boost the economy,” Finance Minister Lan Fo’an said on Saturday (October 12, 2024,) but he stopped short of unveiling a major new stimulus plan that analysts and stock investors were hoping for. Mr. Lan’s remarks left … Read more
China’s top economic planner has reassured private entrepreneurs it will “spare no effort” to help companies “conquer difficulties”, in Beijing’s latest move to revive the economy. Zheng Shanjie, head of the National Development and Reform Commission (NDRC), hosted a meeting on Friday with representatives from several private companies to learn about business conditions, problems they … Read more
Xi delivered the address at a commemorative event held every decade around August 22 – a tradition that allows the party’s leaders to reconnect with its founding fathers and announce a path forward. He used the event to offer a salute to the past and to acknowledge the political challenges of today. 03:10 Why Deng … Read more
China’s economic system is founded on the reforms carried out in the 1990s. With the unification of dual exchange rates in 1994, markets became the main tool to set prices. Many state-owned enterprises were either privatised or went bankrupt. Since then, privately managed businesses have consistently gained ground. The conventional formula to describe the role … Read more
Hu added that removing the phrase showed that China hoped to “achieve true equality between the private and the state-owned economy”. “Chinese society’s understanding, attitude and narrative of various ownership relations will have a big step forward,” Hu wrote in the article. This interpretation immediately triggered fierce criticism from China’s conservative bloggers, who accused Hu … Read more
India is well positioned to be a driver of greater wealth, says a global wealth report by Boston Consulting Group (BCG). In 2023, India has generated roughly USD 590 billion in new financial wealth, marking its largest increase in the history. India will add about USD 730 billion annually to the overall growth of the … Read more
The main focus of the meeting of more than 370 full and alternate members of the party’s Central Committee is expected to be deciding the best strategy for coping with the economic challenges facing the country. The event, formally known as the third plenum of the 20th Central Committee, is also likely to offer more … Read more
This week, four of the seven members of the Politburo Standing Committee – Premier Li Qiang, the country’s top lawmaker Zhao Leji, top political adviser Wang Huning and first Vice-Premier Ding Xuexiang – were touring the country while President Xi Jinping was in Europe with other senior officials. Li visited Xinjiang between Tuesday and Thursday, … Read more
