Day: April 15, 2024

After air attacks Iran tells China it will not escalate violence against Israel as Wang Yi holds Mideast calls

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“The Islamic Republic of Iran advocates an immediate ceasefire in Gaza and supports China’s positive efforts to promote a ceasefire, restore peace in the region and strengthen cooperation among regional countries.” 03:47 World leaders call for de-escalation after Iran launches air attack on Israel World leaders call for de-escalation after Iran launches air attack on Israel Noting Iran’s statements that its attack was “limited” and “an act of self-defence”, Wang said China appreciated Iran’s emphasis on “not targeting regional and neighbouring countries, as well as its reiteration of continuously pursuing…

China’s economic growth hits 5.3%

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Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s gross domestic product increased 5.3 per cent in the first quarter against a year earlier, beating expectations as Beijing tries to steer a manufacturing-led revival of the world’s second-largest economy. The strong first-quarter growth rate released on Tuesday, which exceeded a poll of Reuters analysts that forecast 4.6 per cent and an expansion of 5.2 per cent for the full year in 2023, followed mixed economic data in recent…

China’s economy expands 5.3% in first quarter

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Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s gross domestic product increased 5.3 per cent in the first quarter against a year earlier, beating expectations as Beijing tries to steer a manufacturing-led revival of the world’s second-largest economy. The strong first-quarter growth rate released on Tuesday, which exceeded a Reuters analyst poll forecasts of 4.6 per cent and an expansion of 5.2 per cent for the full year in 2023, followed mixed economic data in recent weeks.…

China’s economy grows 5.3% in first quarter

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Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s gross domestic product grew 5.3 per cent in the first quarter against a year earlier, beating expectations as Beijing tries to steer a manufacturing-led revival of the world’s second-largest economy. The strong first-quarter growth rate released on Tuesday, which exceeded a Reuters analyst poll forecasts of 4.6 per cent and an expansion of 5.2 per cent for the full year in 2023, followed mixed economic data in recent weeks.…

China’s GDP jumps 5.3% in first quarter

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Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s gross domestic product grew 5.3 per cent in the first quarter against a year earlier, exceeding market expectations as Beijing tries to steer a manufacturing-led revival of the world’s second-largest economy. The strong first-quarter growth rate, which compares with analyst forecasts of 4.6 per cent in a Reuters poll and an expansion of 5.2 per cent for the full year in 2023, follows mixed economic data in recent weeks.…

China GDP: 5.3% first-quarter rise better than expected as recovery regains momentum

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China reported better-than-expected economic growth of 5.3 per cent in the first quarter, staying on course for this year’s growth target despite ongoing challenges from the property market downturn and subdued domestic demand. Quarter on quarter, China’s economy grew by 1.6 per cent in the first three months of the year, up from a rise of 1.2 per cent from the previous three months. “The figures were fuelled by rapid growth in the services sector, as well as increased overseas demand driving export growth in the industrial sector,” said Ding…

Manufacturers need to face up to new wave of Chinese competition

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In March, as a visiting delegation of Swedish investors and bankers passed through China’s factories and shipyards for the first time since the pandemic, what they witnessed was a shock to their systems. Across the mainland, where Sweden’s manufacturers have a long-standing presence, competition from Chinese firms was “ferocious”, even “monstrous”, according to Mattias Sundling, chief equity strategist at Handelsbanken. “The way they have caught up and developed in just…

China’s bubble tea brands look to create a stir overseas

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At a crossroads in downtown Shanghai, the market for bubble tea is crowded. Opposite one of ChaPanda’s 8,000 domestic stores, rival tea specialist Heytea vies for customers. Next door, another establishment is under construction. “Teenage students, white-collar workers in their thirties, they’re drinking it every few days,” said a worker at ChaPanda. “They can’t go without it.” Best known for the variety invented in 1980s Taiwan that includes tapioca balls or “bubbles”, flavoured milk tea beverages have proved a hit worldwide. Now mainland Chinese companies, buoyed by a recent domestic…

Untying knots: Cambodian women face social judgment, depression after divorce

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Phnom Penh —  “He brutally used violence against me. … He hit me. He grabbed my neck. I really had a hard time when I was with him, and my mental health was very unstable.” When Thach Chanty, a 35-year-old woman from the southeastern Cambodian province of Kampong Cham recalls life with her former husband, “My tears almost fall down.” Chanty, who works as a garment worker, now struggles to support her two children in the aftermath of a marriage she describes as colored with neglect and violence. Escaping the…

China’s energy trade with Middle East set to surge since Beijing brokered last year’s Iran-Saudi deal, UBS says

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Energy-related trade between China and the Middle East is likely to increase significantly and reshape the sector globally in the wake of the Saudi-Iran peace deal brokered by China last year, according to Swiss bank UBS. By 2030 trade between the two will have risen by US$423 billion annually, with renewables and petrochemicals accounting for US$77 billion and US$325 billion, respectively, according to Ken Liu, head of China and Hong Kong renewables, utilities and energy research at UBS Investment Bank. “We believe the Beijing Accord of March 2023 has significant…