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China is officially targeting GDP growth of “around 5%” in 2023. The world’s second-largest economy expanded at only 3% last year amid its controversial zero-COVID policy but reversed the policy late last year. Meanwhile, after a flurry of weak economic data several brokerages have raised concern over China’s growth outlook and expect it to miss…
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China’s Commerce Ministry has admitted that its exports sector, which is a key driver of its economy, has been hit due to what it described as “politicization of trade.” China recently reported its Q2 2023 GDP data that came in below estimates. According to CNBC translation, Li Xingqian, the head of the ministry’s external trade…
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Nvidia (NYSE: NVDA) stock is trading lower in early US price action today amid reports that Washington is considering a new set of restrictions on chip exports to China. The country imposed restrictions on chip exports to China last year also but Nvidia managed to blunt the impact with sales of alternative products. The Wall…
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China was expected to lead the global economic growth this year after it the relaxed COVID-19 restrictions last year. However, after the initial rebound, China’s economy is losing steam leaving brokerages scrambling to lower the country’s growth forecast. Goldman Sachs has become the latest brokerage to lower China’s 2023 GDP growth forecast from 6% to…
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China’s GDP grew at an annualized pace of 4.5% in the first quarter of 2023 which is higher than the 4% which analysts polled by Reuters had expected and marks the fastest pace of expansion in a year. Last year, China’s GDP expanded by 3% which was below the 5.5% which the country originally targeted….
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The first batch of stocks under China’s new IPO registration system began trading today and saw massive buying interest from investors and some almost tripled. Under the previous rules, on the trading debut, stocks could rise by only 40% and fall by 36%. Now, the country has come up with a new mechanism under which…
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Chinese tech stocks crashed today amid the escalations in US-China tensions following the shooting down of suspected Chinese spy balloon by the US. After the balloon incident, Secretary of State Antony Blinken also canceled his Beijing visit. US-China tensions have not come down in Biden’s tenure and if anything, they might have only increased. Biden…
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China’s GDP rose at an annualized pace of 3% in 2022 which was better than the 2.8% growth that analysts expected. The growth rate is however the second lowest since 1976 and the world’s second-largest economy fared poorly in only 2020 when it grew by a mere 2.2%. China was officially targeting GDP growth of…
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Taiwan Semiconductor Manufacturing Company or TSMC has increased its investment in the US and would now set up two chip plants in the country. Apple CEO Tim Cook said that the company would use chips produced at TSMC’s Arizona plants. The event was also attended by President Joe Biden whose administration’s CHIPS and Science Act…
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Apple (NYSE: AAPL) has warned that its iPhone 14 shipments would be hit due to the COVID-19 restrictions in China. Foxconn’s assembly plant in Zhengzhou which assembles the iPhone 14 is operating at “significantly reduced capacity.” Notably, Apple is among the companies that are worst affected due to the COVID-19 restrictions in China. The company…
