Claims that foreign investment is leaving China is ‘biased’, says commerce minister

China’s commerce minister on Tuesday sought to assuage concerns that foreign investment is leaving the country, saying claims to that effect were “biased.” In comments made to reporters, Gao Hucheng didn’t elaborate on the ministry’s views though data over the past few months have shown a pick up in fund outflows.
“In recent years some products have indeed moved offshore but at the same time many high-end industries have moved to China,” Gao told reporters…

Common interests between China and the U.S. far outweigh their differences: China’s Yi

The common interests between China and the United States far outweigh their differences, China’s Foreign Minister Wang Yi told U.S. Secretary of State Rex Tillerson on Friday in their first face-to-face meeting since Tillerson took up his job. U.S. President Donald Trump angered Beijing in December by talking to the president of Taiwan and saying the United States did not have to stick to the “one China” policy, under which Washington acknowledges the Chinese position that there is only one China and Taiwan is part of it…

China’s producer price inflation hits 6-year high, consumer inflation rises to 3-year high

China’s producer price inflation picked up more than expected in January to near six-year highs as prices of steel and other raw materials extended a torrid rally, adding to views that global manufacturing activity is building momentum. China consumer inflation also rose more than expected, nearing a three-year high as fuel and food prices jumped, data showed on Tuesday…

China’s January Forex reserves drop below $3 trillion, lowest level in almost six years

BEIJING—China’s foreign-exchange reserves dropped below $3 trillion in January, the lowest level in almost six years, complicating the central bank’s balancing act of trying to contain asset bubbles without triggering a liquidity crunch. The People’s Bank of China said Tuesday that the world’s largest stockpile of foreign currency fell $12.31 billion last month to $2.998 […]

Is Donald Trump making China look great again?

Two years ago, some European and US experts gathered to discuss China in an elegant English country house. The setting was seductive, but the mood was dark. Two years into Xi Jinping’s presidency, China’s politics were turning away from the liberalising trend of the previous three decades, towards a hard-edged nationalism that was discomfiting China’s immediate neighbours and their western allies…

Political uncertainty has driven gold demand up by 70%, highest level since 2013

The Brexit vote and the election of Donald Trump drove global demand for gold to a four-year high in 2016, as pension funds and other institutional investors piled into the precious metal while higher prices put consumers off jewellery purchases. Global gold demand rose 2% last year to reach 4,309 tonnes, the highest level since 2013, according to a report from the World Gold Council, which represents gold miners…

Global stocks edge up, dollar pares gains after Fed’s upbeat statement

Financial asset prices are moving in step less than at any time in more than a decade, as economic and monetary policies diverge and political risks grow around the world. Unusually loose central bank policy after the global financial crisis drove so-called cross-asset correlations to record highs, meaning prices of stocks and government bonds often moved in tandem in the “risk-on, risk-off” environment that dominated financial markets…

Trump says Japan, China, and Germany ‘play the market’, guilty of ‘global freeloading’

Japan has rejected Donald Trump’s claims that Tokyo was deliberately weakening the yen to gain an unfair trade advantage over the US. Trump told a meeting of pharmaceutical companies on Tuesday that Japan, along with China and Germany, were guilty of “global freeloading” for using regulation and currency devaluation in their trade dealings with the US…

Dollar hits 6-week low after Trump began his term in office with a protectionist speech

European stocks and bond yields dropped on Monday and the dollar hit a six-week low after President Donald Trump began his term in office with a protectionist speech that pushed a nervous market into safe-haven assets. World stocks hit multi-year highs earlier this month on expectations Trump would boost growth and inflation with extraordinary fiscal spending measures…

Chinese economy grew 6.7% in 2016, slowest growth since 1990

China’s economy slowed further last year to expand at its weakest pace for quarter of a century, with warnings that it risks losing further momentum in 2017 as Donald Trump’s presidency creates new challenges for the trading superpower. The world’s second-largest economy grew 6.7% last year, according to China’s statistics office, meeting Beijing’s target range of 6.5-7% but the slowest growth since 1990…

China says can resolve any disputes with the U.S. through dialogue, negotiation

China and the United States can resolve any trade disputes through talks, the government said on Thursday, as a Chinese newspaper warned U.S. business could be targets for retaliation in any trade war ushered in by President-elect Donald Trump. Trump, who is sworn into office on Friday, has criticised China’s trade practices and threatened to impose punitive tariffs on Chinese imports…

Chinese governor admits to cooking the books of an entire province for years

Longstanding doubts about the accuracy of China’s economic data just got a big piece of supporting evidence: The governor of an entire province has admitted that local officials cooked the books for years. The embarrassing revelation comes just days before the closely watched release of China’s national economic data for last year…

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