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China’s economy slows as ‘zero COVID’ drags down sales, industry

China’s economy slowed in July as Beijing’s ultra-strict “zero COVID” policies dragged down key metrics ranging from retail sales to industrial output. Retail sales and industrial output grew 2.7 percent and 3.8 percent, respectively, compared with a year ago, National Bureau of Statistics (NBS) data showed on Monday, down from the previous month and far […]

VMware Unveils Hybrid Cloud Services for Businesses

VMware unveiled VMware vSphere+ and VMware vSAN+ to help organizations bring the benefits of the cloud to their existing on-premises infrastructure with no disruption to their workloads or hosts. Introduced at VMworld 2021 as a technology preview known as Project Arctic, these new offerings will help customers enhance their infrastructure by providing centralized cloud-based infrastructure […]

China’s Xi vows ‘more forceful’ tools to achieve this year’s economic targets

Chinese President Xi Jinping made a rare statement Wednesday about his country’s aims to achieve its economic goals for the year. Investment analysts have cut their forecasts for China’s GDP growth to well below the official target after stringent Covid controls restricted business activity in the last few months. Government stimulus has been relatively muted so far… […]

U.S. inflation: Will scrapping China tariffs be the cure?

President Joe Biden’s decision to review the legacy of U.S.-China trade war started by his predecessor is now under the spotlight for reasons other than still tense relations between Washington and Beijing: inflation at home. The inflation rate hit a 40-year high in May as consumer prices surged 8.6%, the Department of Labor said on Friday. From gas […]

China’s trade with Belt and Road countries enjoys robust growth

China’s economic and trade ties with countries along the Belt and Road have strengthened significantly over the past decade, an official said Friday. “Despite the protracted COVID-19 pandemic and complicated international situation, the building of the Belt and Road Initiative continues to demonstrate strong resilience and vitality, injecting strong impetus into global openness and cooperation […]

China’s trade seen faltering in April as COVID curbs hit output

China’s export growth is expected to have slowed to a crawl in April as strict COVID-19 curbs hit production while imports likely extended declines, creating heavy headwinds for the world’s second-largest economy in the second quarter. The trade sector, which accounts for about a third of gross domestic product and employed 180 million people in […]

Why Chinese bankcard chips may not ease Putin’s economic pain

Cut off from international payments systems by Western-led sanctions, Russia has turned to China to obtain the microchips it needs to meet surging demand for its domestic bank cards. But while Chinese manufacturers may be able to provide a quick fix for Russia’s besieged financial institutions, they are unlikely to be able to substantially ease […]

Asia-Pacific stocks mixed as data shows China’s exports rose more than expected

Shares in Asia-Pacific were mixed on Wednesday as investors watched for market reaction to the release of Chinese trade data. New Zealand also hiked its rate by 50 basis points, its biggest increase in more than 20 years. Mainland China’s Shanghai composite slipped 0.82%, closing at 3,186.82 while the Shenzhen component dropped 1.601% to 11,568.17. Hong Kong’s Hang Seng index rose […]

The numbers behind India and Australia’s $100-billion trade target

India and Australia signed an interim free trade agreement on April 2. The India-Australia Economic Cooperation and Trade Agreement “provides zero duty exports to 100% tariff lines from India to the Australian market, benefiting labour-intensive sectors besides providing greater access to services space through liberalised visa norms for students and professionals, including quota for Indian […]

Russia-Ukraine conflict starts to affect China-Europe trade

Chinese traders and logistics service providers have been ramping up efforts to cope with the rapidly evolving situation in Europe, as the Russia-Ukraine conflict raised concerns over potential impact on certain aspects of the China-Europe freight train and shipping routes by sea and air. While the actual impact remains unclear given the fast changing developments, […]

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