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Top related persons:
Yunbang Xu - 1 Xu - 1 Chris Helgren - 1 Sinopec - 1 Chen Aizhu - 1 Judy Hua - 1 Robert Birsel - 1
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Sichuan Nanning Guangxi Zhuang China BEIJING Shenzhen Bazhong Vancouver , British Columbia
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Global - 1 China Petroleum & Chemical Corporation - 1 REUTERS - 1 Rights - 1 China Petroleum & Chemical - 1 Sinopec Corp - 1 Thomson - 1

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☆ China's fiscal stimulus is losing its effectiveness, S&P says
  + stars: | 2024-04-19 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +1 min
BEIJING — China's fiscal stimulus is losing its effectiveness and is more of a strategy to buy time for industrial and consumption policies, S&P Global Ratings senior analyst Yunbang Xu said in a report Thursday. The analysis used growth in government spending to measure fiscal stimulus. "In our view, fiscal stimulus is a buy-time strategy that could have some longer-term benefits, if projects are focused on reviving consumption or industrial upgrades that increase value-add," Xu said. The head of the top economic planning agency said in March that China would "strengthen macroeconomic policies" and increase coordination among fiscal, monetary, employment, industrial and regional policies. High debt levels limit how much fiscal stimulus a local government can undertake, regardless of whether a city is considered a high or low-income region, the S&P report said.
Persons: Yunbang Xu, Xu Organizations: Global Locations: Nanning, Guangxi Zhuang, China, BEIJING, Shenzhen, Bazhong, Sichuan
☆ China's Sinopec's interim profit down 20.1% on lower oil prices
  + stars: | 2023-08-27 | by ( ) www.reuters.com   time to read: +2 min
Chinese refiners overall benefited from cheap crude oil supplies from Iran, Venezuela and Russia, as Western sanctions forced those producers to sell oil at deep discounts to keep revenue flowing. Although state majors have shied away from Iranian and Venezuelan oil, Sinopec has been taking in Russian supplies, traders have said. Sinopec produced 139.68 million barrels of crude oil during the six months, up 0.02% year on year, while its natural gas output gained 7.6% to 660.88 billion cubic feet. Capital expenditure for the half-year came in at 74.67 billion yuan, versus 64.65 billion yuan a year earlier. Its Hong Kong-listed shares have risen 14.4% year-to-date, outperforming Hang Seng Index (.HSI) which has fallen 10.9% during the period.
Persons: Chris Helgren, Sinopec, Chen Aizhu, Judy Hua, Robert Birsel Organizations: China Petroleum & Chemical Corporation, REUTERS, Rights, China Petroleum & Chemical, Sinopec Corp, Thomson Locations: Vancouver , British Columbia, Canada, Iran, Venezuela, Russia, Sichuan, Hong Kong
☆ China's Lunar New Year travel to boost economy after COVID crunch
  + stars: | 2023-01-17 | by ( ) www.reuters.com   time to read: +5 min
While many analysts say a return to economic normality will be gradual as the impact of COVID weakens, some see the Lunar New Year as a welcome early consumption boost. But with so many people on the move, health experts fear a deepening of the COVID outbreak, leaving the elderly in rural villages particularly vulnerable. Reuters reported on Tuesday that doctors in both public and private hospitals were being actively discouraged from attributing deaths to COVID. State media reported that some 390,000 passengers were expected to travel from Shanghai train stations on Tuesday alone for what is known as the Spring Festival holiday - seen as the world's largest annual mass migration before COVID. As travellers moved through stations in Shanghai, China's largest city, some expressed optimism despite the risks.
☆ China's Lunar New Year travel offers spark of economic rebound from COVID crunch
  + stars: | 2023-01-17 | by ( ) www.reuters.com   time to read: +6 min
While many analysts say a return to economic normality will be gradual as the impact of COVID weakens, some see the Lunar New Year as a welcome early consumption boost. But even as workers move out, health experts fear a broadening and deepening of its COVID outbreak, leaving the elderly in rural villages particularly vulnerable. The WHO earlier welcomed Saturday's announcement after last week warning that China was heavily under-reporting deaths from the virus. "This is especially important during periods of surges when the health system is severely constrained," the statement said on Monday. As travellers moved through stations in Shanghai, China's largest city, some expressed optimism despite the risks.
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