China's Economy Grows Faster-Than-Expected in Q1

BEIJING - China ’s economy grew faster-than-expected in the first quarter , data showed on April 16, offering some relief to officials as they try to shore up growth in the face of protracted weakness in the property sector and mounting local government debt .

“The result is positive for the economy to hit its target. Momentum appears to be stable for now, evidenced by the March data not surprising on the upside,” said Mr Jeff Ng, head of Asia macro strategy at SMBC in Singapore Fitch cut its outlook on China’s sovereign credit rating to negative last week, citing risks to public finances as Beijing channels more spending towards infrastructure and high-tech manufacturing.

Growth of retail sales, a gauge of consumption, rose 3.1 per cent year-on-year in March, against a forecast increase of 4.6 per cent and slowing from a 5.5 per cent increase in the January to February period.Xi’s solution for China’s economy risks triggering new trade war Traders said China’s state-owned banks were selling dollars to steady the yuan in the onshore market. China stocks were tracking broader markets lower as geopolitical tensions in the Middle East sapped risk sentiment.The crisis in the property sector has been a major drag on China’s economy as it has rippled across business and consumer confidence, investment plans, hiring decisions and stock prices.

China Economy Growth First Quarter Property Sector Local Government Debt Domestic Demand

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore's economy grew at faster pace of 2.7% in Q1 of 2024: Advance estimatesSINGAPORE — Singapore's economy grew 2.7 per cent year-on-year in the first quarter of 2024, according to advance estimates from the Ministry of Trade and Industry (MTI) on Friday (April 12). This was faster than the 2.
Source: TODAYonline - 🏆 1. / 99 Read more »

Singapore's Economy Grows 1.3% in Q1 2024Singapore's economy grew by 1.3% year-on-year in the first quarter of 2024, according to advance estimates from the Ministry of Trade and Industry (MTI). The manufacturing sector also saw growth, albeit at a slower pace.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China could grow faster with pro-market reforms, says IMF managing directorBEIJING: With a comprehensive package of pro-market reforms, China could grow considerably faster than a status quo scenario, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Sunday (Mar 24).
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Singapore seeking closer collaboration with China on digital economy: Teo Chee HeanThe digital economy is a new frontier where Singapore hopes to seek closer collaboration with China. Senior Minister Teo Chee Hean said this during a visit to Zhejiang -- an economic powerhouse on China's eastern coast. He is on a week-long tour of China.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Upgrades to consumer goods, equipment are China’s best bet to boost economy for nowThe scheme supports industrial upgrading and green development, but the boost is likely transitory.
Source: straits_times - 🏆 5. / 69 Read more »

Foreign Companies Exiting China as Economy DeclinesForeign companies are closing their offices in China and reducing their staff due to the declining Chinese economy. Many multinational companies have reported a decrease in annual revenues from China in 2023.
Source: straits_times - 🏆 5. / 69 Read more »