Tag: National Bureau of Statistics (China)

China’s Economy Stumbled Last Year With Covid Lockdowns Hobbling Growth

Chin@Strategy

The Chinese economy stumbled in 2022, numbers released Tuesday show, in one of its worst performances in decades as growth was dragged down by numerous Covid lockdowns followed by a deadly outbreak in December that swept across the country with remarkable speed. China grew 3 percent for the year — less than half what it was in 2021 and far short of Beijing’s target of 5.5 percent. Other than 2020, it was the most disappointing showing since 1976, the year after the death of Mao Zedong when the economy declined…

China Delays the Release of G.D.P. and Other Economic Data

Chin@Strategy

China, the world’s second-largest economy, announced without explanation on Monday that it was delaying indefinitely the release of economic data that had been scheduled for Tuesday morning, including closely watched numbers for economic growth from July through September, which had been expected to show continued lackluster performance. The delay by China’s National Bureau of Statistics, which analysts said was highly unusual, comes as the country’s ruling elite gather in Beijing for a weeklong, twice-a-decade national congress of the Communist Party. The authorities have taken elaborate measures to prevent any disruptions…

Oil Prices Fall After Signs of Chinese Economic Slowdown

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Oil prices fell to their lowest level in months on Monday, after signs emerged that China’s economy is faltering. The price of West Texas Intermediate crude oil, the U.S. benchmark, dipped below $90 per barrel in afternoon trading, down more than 3 percent, its lowest level since February. The price of Brent crude, the international benchmark, fell by a similar amount, to below $95 a barrel, the lowest since March. China’s economy, which has shown signs of a slowdown for months, sputtered even more in July according to data from…

China’s Births Hit Historic Low, a Political Problem for Beijing

Chin@Strategy

China announced on Monday that its birthrate plummeted for a fifth straight year in 2021, moving the world’s most populous country closer to the potentially seismic moment when its population will begin to shrink, and hastening a demographic crisis that could undermine its economy and even its political stability. The falling birthrate, coupled with the increased life expectancy that has accompanied China’s economic transformation over the last four decades, means the number of people of working age, relative to the growing number of people too old to work, has continued…

China’s Economy Slowed Late Last Year on Real Estate Troubles

Chin@Strategy

BEIJING — Construction and property sales have slumped. Small businesses have shut because of rising costs and weak sales. Debt-laden local governments are cutting the pay of civil servants. China’s economy slowed markedly in the final months of last year as government measures to limit real estate speculation hurt other sectors as well. Lockdowns and travel restrictions to contain the coronavirus also dented consumer spending. Stringent regulations on everything from internet businesses to after-school tutoring companies have set off a wave of layoffs. China’s National Bureau of Statistics said Monday…