China’s outstanding foreign debt rose 7.5 percent in the third quarter to $1.68 trillion, the foreign exchange regulator said on Thursday, slowing from a 8.7 percent rise in the second quarter. The rise in foreign debt was mainly driven by debt securities, as more foreign institutions entered China’s debt market, and also by trade credit […]
Read More China’s commerce ministry said it is disappointed at the European Commission’s decision to launch a probe into Chinese exporters of electronic bicycles, adding that Europe misunderstands the Chinese market. The European Commission launched an investigation on Dec. 21 into whether Chinese exporters of e-bikes benefited from excessive state subsidies, the latest in a string of […]
Read More Spain’s central bank says strong exports are likely to help the economy grow by a quarterly rate of 0.8 percent in the last three months of the year despite the negative effects of the Catalan political crisis. Spain’s economy is set to expand by 3.1 percent in 2017, but the government revised its estimate for […]
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Fitch Ratings raised Indonesia’s credit ratings a notch above its lowest investment grade on Thursday, saying economic and monetary policies have made Southeast Asia’s largest economy resilient to external shocks. The rating was raised to BBB from BBB-, with a stable outlook. The upgrade means Indonesia has a higher rating from Fitch than from S&P […]
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The European banking system is 39.7 billion euros ($47 billion) short of the capital it needs to implement new regulations meant to ensure the world’s banks can withstand financial shocks, the European Banking Authority (EBA) said on Wednesday. The Basel III rules, agreed earlier this month, require banks to hold more capital and cash to […]
Read More President Xi Jinping stamped his authority over China’s economy at a major meeting ending Wednesday, which called for “reasonable” credit expansion, increased imports and more open markets and efforts to curb noxious pollution. The pledges were made under a new banner, “Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era”, at […]
Read More Fewer British employers plan to hire extra staff next year due to one of the gloomiest economic outlooks since Britain voted to leave the European Union in June 2016, a monthly recruitment industry survey showed on Wednesday. The data from the Recruitment and Employment Confederation (REC) chime with official figures showing a falling number of […]
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Bitcoin fell more than 10 percent on Wednesday to a one-week low of $15,800 at cryptocurrency exchange Bitstamp, losing almost one- fifth of its value from a peak hit just three days ago. The digital currency has been sliding since it reached a record high of $19,666 on Sunday, when the exchange giant CME Group […]
Read More Saudi Arabia on Tuesday said its economy contracted for the first time in eight years due to painful austerity measures as it announced record spending to stimulate growth. The OPEC kingpin said gross domestic product for 2017 shrank by 0.5 percent due to a drop in crude production in line with an agreement with major oil […]
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Global coal demand will be subdued over the next five years, growing at just 0.5 percent a year, marginally higher than current levels, due to lower consumption in China, the International Energy Agency (IEA) said on Monday. Coal consumption fell last year by 1.9 percent to 5.357 billion tonnes from a year earlier as lower […]
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New home prices in China extended another month of steady growth in November, after picking up slightly in October, shrugging off a range of government moves to rein in an overheated property market. Average new home prices in China’s 70 major cities rose 0.3 percent in November from the previous month, in line with October’s […]
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China and Britain have vowed to continue and strengthen cooperation on a wide range of economic, financial and trade issues, including speeding the introduction of a London-Shanghai stock connect programme. In a joint statement on Saturday, coinciding with an official visit to China by British finance minister Philip Hammond, the countries also said they opposed […]
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