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The Chinese economy in the first quarter maintained the growth rate of the fourth quarter of last year. At the same time, this indicator shows the minimum increase since the first quarter of 2009. As the National Bureau of Statistics of China reported, China’s GDP grew by 6.4% in the first quarter from the same quarter a year earlier. According to economists, the growth was expected to slow to 6.3%. The Chinese authorities managed to keep economic growth at the level of the previous quarter, despite trade disputes with the United States, thanks to measures such as increasing government spending and encouraging bank lending. Official data showed that industrial production grew in March by 8.5% over the year. And the volume of retail sales increased by 8.7%. Analysts predict a recovery in Chinese GDP growth this year. According to the Chinese government, the growth of the Chinese economy this year will be in the range of 6-6.5%.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
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