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The slowdown in the growth of the Chinese economy forced the Chinese authorities to reduce the forecast for GDP growth for the current year. Trade disputes between China and the United States and the decline in domestic demand led to a reduction in the target value of GDP of 6-6.5%, Reuters reports. A new forecast for GDP growth was announced by the authorities at the annual economic conference in December. An official statement on the reduction of the target will be made in March at the session of the National People's Congress. It is expected that the growth of the Chinese economy in 2018 will reach the 1999 minimum with 6.6%.
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 ...
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 ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
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