economy

China’s post-Covid recovery remains strong, although some signs point to increasing downward pressure in the second half of the year The National Bureau of Statistics has announced China’s Q2 GDP data, and while it is less impressive than the 18.3% year-on-year growth in the first three months of 2021, the 7.9% year-on-year increase (up to RMB 52.3 trillion) in the second quarter nonetheless indicates a steady recovery. It also means …

Stephen Morgan’s new book charts China’s extraordinary growth over the past four decades, examining issues of sustainability, ageing and urbanisation alongside traditional indicators of economic growth. But will a lack of innovation hold them back? Paul French finds out more Stephen L. Morgan is Professor of Chinese Economic History at the University of Nottingham and Associate Provost for Planning at the University of Nottingham Ningbo, China. He was seconded to …

New figures from the Office for National Statistics show that, since the second quarter of 2020, the UK has imported more goods from China than from any other country  For the first time since modern records began, China has outstripped Germany to become the UK’s largest single import market. According to a report from the Office for National Statistics published in late May 2021, goods imported from China reached £16.9 …

The Biden administration wants to revitalise the US manufacturing sector to compete with China. However, facing stiff competition from Europe and East Asia, is likely to face the same problems China has if it wants to establish a self-sufficient domestic manufacturing industry. Read the full analysis below. Since former US President Donald Trump launched his trade war with China, competition with Beijing has become an obsession in US politics. His …

Is China seeing a tourism boom? With Covid-19 under control in the country, the upcoming May holiday is expected to bring record levels of travel and spending, writes Robynne Tindall. More than 250 million people are expected to take trips around China during the upcoming Labour Day national holiday from 1-5 May. This year’s holiday has been extended to five days instead of the usual three in a bid to …

China plans to increase domestic consumption by at least 6% in 2021, but the large rural income gap, low education levels and rising household debt pose significant challenges, writes Torsten Weller.  Increasing domestic consumption has become one of Beijing’s major concerns. The 14th Five-Year-Plan, which was adopted in March, sets out an aim for Chinese disposable income to grow at least as fast as GDP . With this year’s economic …

Newly-released figures suggest the Chinese economy is experiencing a strong post-pandemic resurgence. According to figures released by China’s National Bureau of Statistics on Friday, 16 April, the Chinese economy grew 18.3% in the first quarter of 2021, the fastest growth on record. These record-breaking numbers come in comparison to the steep 6.8% slump in Q1 2020 caused by strict nationwide lockdowns in the early days of the Covid-19 pandemic. The …

HMA Dame Caroline Wilson was recently appointed Ambassador to China and has arrived at a time of increased diplomatic challenges. Here she tells Tom Pattinson about her goals on trade and the climate. What are some of your personal goals and aims that you would like to achieve during your time as Ambassador? My priority will be to establish a robust relationship that allows us to manage our disagreements with …

China’s government has long had a penchant for announcing grand policy initiatives with titles that can appear somewhat unclear – think of Jiang Zemin’s ‘Three Represents’, or Hu Jintao’s ‘Scientific Development’. The latest in this tradition is Beijing’s catchily titled new economic framework, the so-called ‘Dual Circulation Strategy’ (DCS). Since it was first mooted in May 2020, the DCS has attracted much scrutiny, both within and outside China. CBBC’s Torsten …

Whether Donald Trump is re-elected, or Joe Biden becomes the next president, there is little doubt that the United States will continue to pursue hardline policies with China, writes James McGregor, Greater China Chairman at APCO Worldwide The belief that China is an untrustworthy bad actor at home and abroad is the one bipartisan issue in today’s deeply divided Washington. The consensus that China was on a path to become …