U.S. Inflation Eases to Smallest Annual Rise Since 2021
U.S. consumer inflation eased to 2.9% in July, the smallest annual rise since March 2021, offering positive signs for the Federal Reserve as it considers adjusting interest rates.
Economy
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Economist: Capital Reallocation to Chinese Market ‘Unsurprising’ Amid Yen Appreciation
Asia-Pacific stocks rebound amid yen appreciation; economist Hong Hao discusses the shift of capital to Chinese mainland markets as a defensive investment strategy in volatile times.
Senior Chinese Officials Interpret Economic Policies at CPC Press Conference
Senior Chinese officials provided interpretations on economic topics at a CPC press conference, highlighting guiding principles from the third plenary session.
French Election Candidates Clash Over Economy Amid Cost-of-Living Crisis
French election candidates clash over economic policies amid a cost-of-living crisis, with incumbent Gabriel Attal warning against unrealistic promises from his opponents.
IMD Report: Hong Kong Rises to 5th Place in Global Competitiveness
Hong Kong climbs to fifth place in the IMD World Competitiveness Ranking, reflecting its economic recovery and strategic initiatives to enhance global competitiveness.
China Announces $42 Billion Relending Facility for Affordable Housing
China’s central bank unveils a 300-billion-yuan relending facility to support affordable housing projects, encouraging state-owned enterprises to repurpose completed commercial properties.
China’s Electric Vehicle Boom Challenges ‘Excess Capacity’ Claims
China’s electric vehicle market is booming, challenging claims of excess capacity. Surging demand and fierce competition illustrate the country’s dynamic economic growth.
China Maintains Top Spot as World’s Leading Merchandise Exporter for 7th Year
China retains its position as the world’s top merchandise exporter for the seventh straight year in 2023, holding a 14.2% share of global exports, according to the Ministry of Commerce.
Peony Festivals: Blossoming Culture and Economy in China
The peony, China’s “king of flowers,” not only holds deep cultural significance but also boosts local economies through festivals and global markets, intertwining tradition with modern growth.
Australia’s First National Climate Risk Assessment Reveals Dire Threats
Australia’s first National Climate Risk Assessment warns of significant threats to the nation’s security, economy, and infrastructure due to climate change, highlighting urgent need for action.
Germany Unveils €4 Billion Subsidy Scheme for Greener Industry
Germany launches a €4 billion subsidy scheme to boost climate-friendly industrial production, targeting significant emission reductions and economic stimulation.
China to Issue Ultra-Long Special Treasury Bonds from 2024
China announces plans to issue ultra-long special treasury bonds starting in 2024, aiming to boost economic growth and fund long-term projects. This move marks a significant step in China’s financial strategy.
Foreign Investors Maintain Optimism Towards China’s Market
Foreign investors continue to show strong interest in China, with a significant increase in new foreign-invested firms and sustained optimism about the market’s opportunities.
China Lowers Over-Five-Year Loan Prime Rate to 3.95%, Impacting Mortgage Rates
China’s over-five-year loan prime rate (LPR), which influences mortgage rates, has been reduced to 3.95% from 4.2%, while the one-year LPR remains at 3.45%.
Blossoming Sales: China’s Flower Market Flourishes Ahead of 2024 Spring Festival
China’s flower markets are thriving as the 2024 Spring Festival approaches, with sales soaring both in-person and online, reflecting a surge in demand for festive decorations and good luck charms.
Yanis Varoufakis on Europe’s Economic Challenges and China Cooperation
Former Greek Finance Minister Yanis Varoufakis discusses Europe’s economic challenges, policies towards the Chinese mainland, and potential cooperation under the Belt and Road Initiative.
Ambassador Qin Gang Reassures China’s Commitment to Opening Up at Economic Summit
At the Global Economic Summit, Chinese Ambassador Qin Gang reassured foreign businesses that China’s policy of opening up remains steadfast despite recent lockdowns.
Egypt’s Soaring Food Prices Strain Local Businesses: A Shopkeeper’s Struggle
Egyptian shop owner Hamdi Ali Abu Zeid shares his struggles as soaring food prices make essentials unaffordable for consumers and threaten local businesses.
Inflation Soars in Germany as Residents Stockpile Supplies
German residents are stockpiling essentials as inflation drives up food and energy prices, with sanctions against Russia contributing to rising costs. Yasmin, a nurse in Brandenburg, shares her experience.
Indian Families Struggle as Inflation Soars Post-Pandemic
Inflation is burdening Indian families post-pandemic, with essential goods’ prices soaring. Households face tough choices as they struggle to cope with rising costs.