IMF raises its Asia growth forecast for 2024, highlights India's growth and China stimulus as key drivers
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May Day travel trends in China: Railway and road trips on rise
Travel by rail and car across China surged on Wednesday, the first day of a major public holiday, as consumers remained focused on keeping expenses down in a challenged economy.In the run-up to the five-day holiday that began with May Day, domestic airline fares were falling and forecasts suggested more travelers were opting to drive rather than fly, or had booked early to save.Travel of all kinds has rebounded since China lifted strict Covid control measures at the end of 2022, but consumer...
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China's April activity growth slows, raising doubts on economic recovery
China experienced a slowdown in growth in both its manufacturing and services activities in April, indicating a sluggish start to the second quarter for the world's No. 2 economy.
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US chip bans not meant to hobble China's growth, Blinken says
US export controls on sending advanced computing chips to China are not meant to hold back China's economy or technological development, Secretary of State Antony Blinken said during an interview with National Public Radio on Friday. Since 2022, US officials have imposed sweeping controls on which computing chips can be exported to China, cutting off some sales from Nvidia, Advanced Micro Devices and Intel, among others. Those controls followed earlier bans on shipping chips to Huawei...