
CNA938 Rewind - Does China's latest economic data show the impact of the tariff war?
CNA938 Rewind
China's economy mostly remained resilient in April, but came in below estimates as the country reels from a persistent property and consumption crises, and faces tariff tensions with the US -- prompting authorities to cut benchmark lending rates. Andrea Heng and Hairianto Diman crunch the data and analyse what's next for Chinese officials with Betty Wang, Lead Economist, Northeast Asia, Oxford Economics
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


CNA
13 minutes ago
- CNA
BOJ must ensure fiscal considerations don't overtake mandate, deputy governor says
TOKYO :The Bank of Japan should make clear it is not monetising government debt by ensuring that fiscal considerations do not take precedence over its goal of achieving price stability, Deputy Governor Shinichi Uchida said on Saturday. Central banks can theoretically print unlimited amounts of money and completely finance government debt, which poses delicate questions around their huge government bond purchases conducted to revive their economies, Uchida said. Central banks see "monetising," or directly financing government deficits, as taboo, as doing so risks letting inflation get out of control and potentially eroding their independence. Such unconventional monetary easing steps taken since the 2008 financial crisis present a challenge for central banks across the globe, he said in a speech. The BOJ's monetary easing, for its part, was aimed at achieving its 2 per cent inflation target, and not at funding government debt, Uchida said. "In considering what constitutes monetary financing or not, the important question is whether monetary policy is compromised by fiscal considerations," Uchida said. In deploying and rolling back monetary easing, the BOJ must focus on achieving its economic and price mandate. "The result must be that the Bank does not deviate from such policy conduct out of fiscal considerations," he said. "In its future conduct of monetary policy, the Bank should make it clear that it is not engaging in monetary financing." The remarks come against the backdrop of growing pressure from opposition and ruling parties on Prime Minister Shigeru Ishiba to increase budget spending ahead of an upper house election due next month. Some analysts have blamed concerns over Japan's worsening finances for pushing up super-long bond yields to record highs last month, and complicating the BOJ's efforts to taper its huge bond purchases. Under a radical monetary easing programme deployed in 2013, the BOJ increased purchases of government bonds and adopted a policy of capping long-term interest rates around zero. While the BOJ ended the policy last year, its short-term policy rate is still at 0.5 per cent. The central bank plans to lay out in June a new bond tapering plan for fiscal 2026 and beyond as part of its effort to normalise monetary policy.


CNA
28 minutes ago
- CNA
Geely chairman says global auto industry faces 'serious overcapacity'
SHANGHAI :Geely's chairman and founder Li Shufu said on Saturday that the global automotive industry was facing "serious overcapacity" and that the Chinese automaker had decided not to build new manufacturing plants or expand production in existing facilities. Li made the comments at an auto forum in the central city of Chongqing, according to the company. Geely Holding owns multiple automotive brands including Geely Auto, Zeekr and Volvo. His comments come as the Chinese auto industry, the world's largest, has been locked in a brutal price war that is forcing many players to look to markets abroad and has prompted Chinese regulators to call for a halt. Chinese automakers that have been building plants abroad include BYD, Chery Auto and Great Wall Motor. Geely is planning to use French automaker Renault's existing production facilities in Brazil and take a minority stake in Renault's business in the Latin American country, according to an announcement it made in February.


CNA
an hour ago
- CNA
Geely chairman says global auto industry facing 'serious overcapacity'
SHANGHAI :Geely's chairman and founder Li Shufu said on Saturday that the global automotive industry was facing "serious overcapacity" and that the Chinese automaker had decided not to build new manufacturing plants or expand production in existing facilities. Li made the comments at an auto forum in the central city of Chongqing, according to the company. Geely Holding owns multiple automotive brands including Geely Auto, Zeekr and Volvo.