China Business Now

China's August new bank loans exceed expectations as financial support for real economy increases.   https://m.21jingji.com/article/20230912/herald/f911678e0eea8d89d118d5e505267fc1.html

China escalated its defense of the yuan by delivering a strong verbal warning to speculators and forceful guidance to investors with its daily reference rate, measures that pushed the renminbi up from a 16-year low.   https://m.21jingji.com/article/20230911/herald/b57312f08313a9375e4f411935917b2c.html

Luckin Coffee is once again creating a stir with an unusual offering to capture the attention of Chinese coffee drinkers: lattes with a nip of Kweichow Moutai’s baijiu. The coffee chain partnered with China’s luxury liquor maker to launch an alcohol-infused coffee drink, the so-called “sauce-flavored latte.” Luckin Coffee hailed the success of its new collaboration with Kweichow Moutai, with more...

Between January and August, China's exports grew by 0.8% year-on-year to reach 15.47 trillion yuan, while imports were down 1.3% year-on-year to 11.61 trillion yuan, latest customs data showed.   https://m.21jingji.com/article/20230907/herald/6f44e59645475abd89404cb62c0efa6c.html

Chinese premier hails strong China-ASEAN ties at the opening of 26th China-ASEAN Summit. Li said "China and ASEAN have succeeded in blazing a correct path of long-term good-neighborliness and friendship, as well as common development and prosperity as the world is undergoing profound changes unseen in a century," in his opening remarks at the China-ASEAN Summit in Jakarta    https://m.21jingji.com...

Introducing new products, services, and technologies; announcing cooperations with Chinese partners and exchanging ideas at forums -- the hustle and bustle of foreign exhibitors at the ongoing 2023 China International Fair for Trade in Services (CIFTIS) has painted an inspiring picture of China's foreign investment magnetism.   https://m.21jingji.com/article/20230905/herald/ae3a992b9ca4bc311437ab9...

China has set up a bureau under the country's top economic planner specializing in promoting the private economy.    https://m.21jingji.com/article/20230904/herald/ba1129b8cac08f808bf5252f4e76cdda.html

Chinese consumer sentiment towards Japanese products, notably cosmetics, is undergoing a dramatic shift recently due to rising safety concerns.  One of the main triggers for this change is Japan’s decision to release nuclear-contaminated wastewater from the Fukushima power station into the Pacific Ocean, 12 years after it was wrecked by an earthquake and tsunami, triggering fears about the safety...

China's official manufacturing purchasing managers' index (PMI) continued to improve in August, marking the third consecutive monthly increase though the index remains in contraction.   https://m.21jingji.com/article/20230831/herald/c383444f0911fa0e005bc39eb12c6155.html

China's State Council has released a plan to boost the high-quality development of a sci-tech innovation cooperation zone jointly developed by the southern tech hub Shenzhen and the Hong Kong SAR. The Development Plan for Shenzhen Park of Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone comprises a total of 30 measures, covering such areas as the development positioning,...

China and US agreed to form a working group, which will comprise deputy ministerial and bureau-level government officials from both countries alongside business representatives, to seek solutions to specific commercial issues.   https://m.21jingji.com/article/20230829/herald/a0cc1e95c1f3cd4f56c0c2fc1ac04c63.html

China halved the stamp duty on stock trading effective Monday for the first time since 2008, in the latest attempt to boost the struggling market in the world's second-biggest economy.   https://m.21jingji.com/article/20230828/herald/faab376b468f1b96cbaa8baac81c1c42.html

Similar to Valentine's Day in Western culture, Qixi Festival has become a commercialized occasion with the exchange of gifts, flowers, chocolates, and romantic gestures. Qixi-themed set meals saw a 118% surge in the week to Tuesday from the prior seven days, while reservations on the day soared 185% from a year ago.   https://m.21jingji.com/article/20230825/herald/f4f562d61029601d62a595b9f39debc4....

China will suspend the import of aquatic products, including edible aquatic animals, originating from Japan starting from August 24.  The head of the  General Administration of Customs bureau of import and export food safety, said that the Japanese government, disregarding strong international doubts and opposition, unilaterally initiated the discharge of nuclear-contaminated water from the destro...

China on August 22 introduced a number of preferential tax and fee policies as part of the nation's broader efforts to boost capital market vitality and expand opening-up. The policies are aimed at promoting the two-way opening-up and healthy development of the capital markets on the Chinese mainland and Hong Kong, supporting the opening-up of the goods futures market, ramping up the implementatio...

China’s largest mutual fund houses promised to buy their own equity-focused products to bolster market confidence, on bets the dip-buying strategy will help them ride out the uncertainty prevailing on the stock markets.    https://m.21jingji.com/article/20230822/herald/bf719cadb354a926dfe78bda9ba308f9.html

China cut its one-year benchmark lending rate on August 21 as authorities seek to ramp up efforts to stimulate credit demand, but kept the five-year rate unchanged.   https://m.21jingji.com/article/20230821/herald/4e2299b4fa95faa415b78e8e8396fb3e.html

More and more businesses are racing to tap into the new fashion of spendings, as young consumers show continued demand for late-night consumption in China. The nighttime economy has emerged as a new driving force for consumption across China in recent years, as many businesses, such as restaurants, shopping malls and museums, are open for longer hours. Sports venues and gyms are full of sweaty peo...

China will strengthen the coordination of various policies to boost growth and meet this year's economic target. Chaired by Chinese Premier Li Qiang, the plenary meeting of the State Council emphasized the promotion of high-quality development and increasing administrative efficiency to provide robust support for the completion of various tasks.   https://m.21jingji.com/article/20230817/herald/22b...

China home prices dropped for a second month in July, a further sign of the deepening property downturn that’s weighing on the world’s second-largest economy.   https://m.21jingji.com/article/20230816/herald/99d64d63ef3b74fd24ba5a9d20394948.html

China's economy continued the recovery trend but it still faces challenges and pressures from weak demand and a complicated international environment. The July industrial output and retail sales growth slowed.   https://m.21jingji.com/article/20230815/herald/adf274ae777b6233083c2ee3d6ee2363.html

China has issued 24 new guidelines to attract more global capital and further optimize the country's business environment for multinational corporations.   https://m.21jingji.com/article/20230814/herald/da3e6e629c6b7414ee215c88f9653a4f.html

The “Taylornomics” even caught curious attentions from the US Federal Reserve, the country’s central bank, as the American pop icon Taylor Swift’s 20-city Eras Tour is on track to become the biggest in concert history, potentially grossing $1 billion. It’s filling football stadiums that hold more than 70,000 people, and Swift is often staying in town for several days, giving  local businesses time...

China lifted a ban on group travel to more than 70 locations, including top travel destinations such as Japan, South Korea Australia, US and the UK, in a major relaxation of travel restrictions that’s set to boost the global tourism market.    https://m.21jingji.com/article/20230810/herald/823ffac462a3067151157bfb25ceb83e.html

China's consumer prices fell for the first time in more than two years in July, while the country's factory-gate price index declined at a slower rate.   https://m.21jingji.com/article/20230809/herald/5c6ea45f7fdcd5f4ebe3ff5e695c70c7.html