China’s bank loans jump on first month of 2024
China’s central bank has reported an increase in new bank loans, reaching an all-time high in January, despite the country’s economic recovery being weaker than expected. The People’s Bank of China (PBOC) reported that banks extended 4.92 trillion yuan ($683.7 billion) in new yuan loans in January, setting a record and exceeding analysts’ predictions. This…
European Central Bank will reduce interest rates
Fabio Panetta, a member of the ECB Governing Council, has stated that the time is “fast approaching” for the European Central Bank (ECB) to lower interest rates. He emphasized that rate hikes are having a greater impact on the economy than in the past and that the next monetary policy action should consider the pros…
China and South Korea strengthen bilateral relations
China’s foreign minister Wang Yi has expressed hopes for a positive, objective, and friendly policy towards South Korea, citing close economic connections. South Korean Foreign Minister Cho Tae-yul requested China to reduce North Korea’s military threats and prevent defectors from being forcibly returned home. Wang has invited Cho to China, and discussions on Cho’s visit…
Country Garden get funding support by governments
Country Garden, China’s largest private real estate developer, has announced that over 30 of its projects have been listed by local governments as eligible for funding support. The provinces of Heinan, Hubei, Sichuan, Shandong, and Chongqing have added the projects to their “white lists.” The developers plan to join the lists of Guangdong and Hunan…
Interest rates will cooling down this month
Major central banks are signaling the end of their aggressive tightening cycle, with interest rates expected to decline due to falling inflation. The US, UK, and Sweden remain unchanged, with Japan potentially raising rates.
The US and China’s join on military defence
The Defense Department has added over a dozen Chinese enterprises to its list of organizations suspected of collaborating with Beijing’s military. The “Section 1260H” list, which includes Hesai Technology, YMTC, Megvii, and NetPosa, poses a serious threat to the companies’ reputation and may increase pressure on the Treasury Department to impose sanctions. The list is…
South Korea supply most of finished steel to India
India’s steel imports reached a five-year high in the first nine months of the fiscal year to the end of March, making the country a net importer of completed steel. The surge in economic activity and infrastructure overhaul has been a positive factor for steel producers, with India’s demand for steel declining in Europe and…
Putin limit information to public
Russian President Vladimir Putin has signed a directive allowing economically significant organizations to withhold information about their operations. This follows the suppression of certain details following Russian troops’ invasion of Ukraine in February 2022. The directive grants these organizations the power to cease sharing information, expanding the list of entities that could evade examination. The…