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The official purchasing managers index, or PMI, rose from 49.1 in February to 50.8 in March. The monthly manufacturing PMI has mostly been under 50 over the past 12 months: Other than this month, factory activities only recorded an expansion in September. Zhao said the survey also showed some problems for companies remained, including increasing competition in industries and a lack of market demand. And it said 10.4 billion yuan ($1.4 billion) would go to upgrading industries and modernizing manufacturing. According to the survey released Sunday, the non-manufacturing PMI rose to 53 from 51.4 in February.

Persons: Zhao Qinghe, Zhao Organizations: BEIJING, —, PMI, National Bureau, Statistics, National People’s Congress, Communist Locations: China

☆ Vanke: China scrambles to prevent another big property developer going bust
▼ + stars: | 2024-03-12 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Vanke’s stock soared in Hong Kong and Shenzhen following the reports of potential new financing. On Monday, Moody’s cut Vanke’s rating to Ba1, which is often referred to as a junk rating. Residential buildings being built by Vanke in Nanjing STR/AFP/Getty ImagesFounded in 1984 in Shenzhen, Vanke is a flagship company in China’s property sector. It was the first listed property company in mainland China, boasting a high-profile IPO in 1991 on the still-nascent Shenzhen Stock Exchange. In 2023, property sales dropped 6.5% from 2022.

Persons: Moody’s, China Vanke, Vanke, Kaven Tsang, Fitch, Wang Shi, Donald Trump, Refinitiv Eikon, Vanke’s, it’s, —, Ni, ”, ” Nomura Organizations: Hong Kong CNN, Economic Observer, CNN, Getty, Time, Shenzhen Stock Exchange, Shenzhen Metro, National People’s Congress Locations: China, Hong Kong, Beijing, Evergrande, Shenzhen, Nanjing, Vanke

☆ China’s consumer inflation rate rises for first time in six months. But the holiday boost is likely to fade
▼ + stars: | 2024-03-11 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s consumer inflation turned positive for the first time in six months, largely supported by the Lunar New Year holiday, when a spending boom pushed up prices. The Consumer Price Index (CPI) increased by 0.7% in February from a year earlier, government data showed on Saturday, versus a rise of 0.3% forecast in a Reuters poll. This was the first increase in the inflation rate since August 2023. Last Tuesday, Premier Li Qiang said the government had set this year’s growth target at around 5% and inflation target at 3%. But the key to growth and rising prices will be how Beijing implements its policy to stimulate demand and boost confidence, analysts said.

Persons: “, ”, Zhiwei Zhang, ” Nomura, Price, Li Qiang, Gongsheng, Zheng Shanjie Organizations: Hong Kong CNN —, Index, “, People’s Bank of China, Getty, National, ” Citi Locations: China, Hong Kong, Nanjing, Jiangsu province, Beijing

☆ Tighter control and high-tech push: Key takeaways from China’s biggest annual political event
▼ + stars: | 2024-03-11 | by ( Simone Mccarthy | Nectar Gan | ) edition.cnn.com time to read: +6 min

The event, held largely without Covid restrictions for the first time in years, is a rare chance for the world to glimpse into an increasingly opaque political system under Xi. Here are the major takeaways from the gathering:Tightening controlThe closing day of the National People’s Congress legislature on Monday was missing a key event – a press conference conducted by the Chinese premier. High-tech pushAn overarching theme of the gathering was a push to focus China’s economic model on technology innovation and transform the country into a high-tech powerhouse. That included a boost to China’s annual budget for science and technology by 10% to an unprecedented 370.8 billion yuan ($51.6 billion). Two high-ranking posts in China’s cabinet previously occupied by Li and Qin remain open.

Persons: Xi Jinping, Mao Zedong’s, Xi, Li, ”, Washington, Wang Yi, who’d, Qin Gang, Li Shangfu, Qin Organizations: Hong Kong CNN, of, National People’s, State Council, Observers, Chinese Communist Party, ”, National People’s Congress, Foreign Locations: China, Beijing, Hong Kong, United States

☆ China to extend visa exemption to six European countries
▼ + stars: | 2024-03-07 | by ( Wayne Chang | Manveena Suri | ) edition.cnn.com time to read: +3 min

CNN —It’s about to get easier for some foreign travelers to visit China, with the government announcing plans to extend its visa exemption policy to six additional European countries. The exemption will take effect on March 14, Chinese Foreign Minister Wang Yi announced on Thursday during a press conference on the sidelines of the National People’s Congress meeting in Beijing. “I wish to share with you that starting from March 14, China will further extend, on a pilot basis, visa exemption to six countries, including Switzerland, Ireland, Hungary, Austria, Belgium and Luxembourg,” Wang said. In January, China signed a reciprocal agreement with Thailand and Singapore to permanently waive tourist visa requirements for each other’s citizens from March. In November last year, China announced a trial program to allow visitors from France, Germany, Italy, the Netherlands, Spain and Malaysia to enter visa-free for 15 days.

Persons: Wang Yi, “, ” Wang, Premier Li Qiang, Wang, ”, That’s Organizations: CNN, National People’s, Premier, National Immigration Administration Locations: China, Beijing, Switzerland, Ireland, Hungary, Austria, Belgium, Luxembourg, Thailand, Singapore, France, Germany, Italy, Netherlands, Spain, Malaysia, Washington

HONG KONG (AP) — China’s exports and imports for the first two months of the year beat estimates, an indication that demand may be improving as Beijing attempts to boost economic recovery. Exports for the January-February period grew 7.1% from a year earlier, customs data released Thursday showed, higher than the 2.3% rise in December. Imports rose 3.5% from the same time last year, up from a 0.2% growth in December. Demand for Chinese exports has also been weak since the Federal Reserve and central banks in Europe and Asia began raising interest rates last year to cool inflation that was at multi-decade highs. China has set a target of around 5% for economic growth this year, Chinese Premier Li Qiang revealed this week at the annual meeting of the National People’s Congress.

Persons: Li Qiang Organizations: —, Beijing, Federal Reserve, PMI, National People’s Congress Locations: HONG KONG, China, Europe, Asia

☆ In post-Covid China, the masks are off, but Xi’s tight control is here to stay
▼ + stars: | 2024-03-07 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

2 official, who is charged with running its economy – and one more move for Xi to cement his control over the official narrative. China's Premier Li Qiang speaks during a press conference after the closing session of the National People's Congress in Beijing on March 13, 2023. He used his first and likely last press conference last year to highlight the prominence of the Communist Party over the state government. The axing of the premier’s press conference came alongside a shortening of the “two sessions” overall – first imposed during the pandemic to prevent the spread of Covid. Traffic slowed due to checkpoints on surrounding streets, with security officials even stopping and checking IDs of some cyclists riding on a major throughfare along the square.

Persons: Xi Jinping, Xi, ”, Liu Dongshu, Jinping, Li Qiang, Greg Baker, Premier Li Keqiang, Xi protégé Li Qiang, Li, “, ” Li, Liu, ” Changhao Wei, Paul Tsai, presser, Tatan Organizations: Beijing CNN, of, National People’s Congress, City University of Hong, National People's Congress, Premier, Communist Party, Paul Tsai China Center of Yale Law School, National People's, AP, Communist Locations: Beijing, Communist, China, City University of Hong Kong, AFP, Hong Kong, Tiananmen

☆ A Window Into Chinese Government Has Now Slammed Shut
▼ + stars: | 2024-03-06 | by ( Li Yuan | ) www.nytimes.com time to read: +1 min

For more than 30 years, the Chinese premier’s annual news conference was the only time that a top leader took questions from journalists about the state of the country. It was the only occasion for members of the public to size up for themselves China’s No. It was the only moment when some Chinese might feel a faint sense of political participation in a country without elections. On Monday, China announced that the premier’s news conference, marking the end of the country’s annual rubber-stamp legislature, will no longer be held. The search term “news conference” was censored on Weibo, and very few comments remained by Monday evening Beijing time.

Organizations: Democratic People’s, Weibo, Monday, National People’s Locations: China, Democratic People’s Republic of Korea, Weibo, Beijing

☆ China’s New Economic Agenda, a Lot Like the Old One: Takeaways
▼ + stars: | 2024-03-05 | by ( Alexandra Stevenson | Chris Buckley | ) www.nytimes.com time to read: +1 min

China’s annual legislative meeting — the National People’s Congress, when Communist Party leaders promote their solutions for national ills — opened for business. The event is a chance for the leaders to signal the direction of the economy and outline how and where the government will spend money in the coming year. Despite their reluctance to spend, China’s top leaders said the economy would grow around 5 percent this year. The growth target and other policies came in a report given to the annual session of the legislature. 2 official, Li Qiang, and is the marquee event in a weeklong gathering dominated by officials and party loyalists.

Persons: —, China’s, Li Qiang Organizations: People’s Congress, Communist Party Locations: Beijing

☆ Premarket stocks: What ‘Super Tuesday’ means for your portfolio
▼ + stars: | 2024-03-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Welcome to “Super Tuesday.” Today, a whopping 16 states and territories hold primary elections. But stock market analysts say not to fret and to hold tight. Based on annualized returns for the S&P 500, stocks gained an average 13.75% during Trump’s presidency. Election year math: History shows that stocks typically gain during the fourth year of presidential terms. The S&P 500 has gained 6.2% on average during the fourth year of presidential terms since 1932, according to Yardeni Research.

Persons: ’, Edward Jones, Donald Trump, Joe Biden, Angelo Kourkafas, ” Kourkafas, Raymond James, Trump, Obama, ”, Simon Hamilton, Barack Obama, “ That’s, it’s, Hamilton, Goldman Sachs, Allison Morrow, Bitcoin, —, Simone McCarthy, Premier Li Qiang, Hong Organizations: CNN Business, Bell, New York CNN, ”, Markets, White House, Congress, CNN, Republicans, Republican, “, Research, Dow Jones, University of Cincinnati, University of Missouri, Securities and Exchange, Bloomberg, Premier, National People’s Congress Locations: New York, Washington, Hamilton, United States, China, Beijing

The work report presented Tuesday by Premier Li Qiang to the National People’s Congress outlined plans for modest increases in overall spending and a hefty 7.2% jump in funding for the military. Li's work report is designed to showcase for the nation achievements in the past year and convey the top leadership's priorities for this year. Photos You Should See View All 60 ImagesApart from the ambitious growth target, “There is no reform, no liberalization, no action plan and no messaging of reassurance,” he said. — Another 10.4 billion yuan ($1.4 billion) will go to upgrading industries and modernizing manufacturing. “We will work to build China's self-reliance and strength in science and technology,” the report said.

Persons: it’s, Premier Li Qiang, Li, Xi Jinping's, James Zimmerman, ”, Tianchen Xu, What's, —, Xu, ” Lynn Song Organizations: BEIJING, Premier, National People’s, Communist, American Chamber of Commerce, Economist Intelligence Unit, Baidu, Greater China, ING Economics, — Locations: China, Beijing, Washington, Hong Kong, Greater

☆ Japan’s Nikkei 225 stock index surpasses 40,000 for the first time
▼ + stars: | 2024-03-04 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Japan’s Nikkei 225 index jumped above 40,000 for the first time on Monday, extending a historic rally that analysts say has just begun. The milestone comes just days after it had set a record closing high of 39,098.68, eclipsing its previous 1989 peak. Optimism regarding semiconductors boosted Taiwan’s stock market as well, with benchmark Taiex hitting an all-time high on Monday, led by Taiwan Semiconductor Manufacturing Company. Premier Li Qiang is set to announce China’s 2024 growth target on Tuesday and is also likely to unveil more stimulus measures to revive the sagging economy. Analysts widely expect the policymakers to set this year’s growth target at around 5%.

Persons: ”, Jefferies, “, chipmaker, Kospi, Hong, Li Qiang, Stephen Innes Organizations: Hong Kong CNN —, Nikkei, Nasdaq, Taiwan Semiconductor Manufacturing Company, Nvidia, Investors, National People’s Congress, NPC, Communist Party’s Politburo Locations: Hong Kong, Japan, Beijing, Shanghai, China

But Mr. Li maintained that China was on the right track. China had “withstood external pressures and overcome internal hardships,” Mr. Li told the National People’s Congress, a Communist Party controlled body that approves laws and budgets. “The economy is generally rebounding.”The National People’s Congress, a choreographed weeklong event, typically focuses on the government’s near-term initiatives, especially economic objectives. China’s growth goal, and the ways that the government is attempting to achieve it, are under intense international scrutiny this year. Communist Party leaders are trying to restore confidence in China’s long-term prospects and to harness new drivers of growth, such as clean energy and electric vehicles.

Persons: Li, ” Mr, Li’s Organizations: Stock, National People’s Congress, Communist Party, People’s Congress Locations: China

☆ ‘Two sessions’: China’s key political gathering gets underway as leaders try to repair broken economic confidence
▼ + stars: | 2024-03-04 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Xi is under the spotlight as economic pain has sparked growing frustration within China. Xi has also overseen a political shakeup in his own ranks, further marring the start of the new term. Those challenges may not pose a threat to Xi, who is China’s most powerful and authoritative leader in decades. But the two sessions provide an important platform for China’s notoriously opaque government to broadcast its strategy for economic, social and foreign policies and announce key indicators including China’s economic growth target, its budget deficit limit and military spending for the coming year. Analysts widely expect Li to reveal a relatively ambitious growth target of “around 5%,” showing that policymakers are still focused on economic growth, even as challenges pile up.

Persons: —, Xi Jinping, Xi, ”, Chen Gang, Li Qiang, It’s, Xuezhi Guo, Guo, Wang Yi, Qin Gang, Li Shangfu, Li, Qin, Pedro Pardo, Neil Thomas, Premier Li, Asia Society’s Thomas, “ Organizations: Beijing CNN —, Communist, National University of Singapore’s East Asian Institute, Getty, of, National People’s, Guilford College, Observers, Washington, Asia Society, Center for Locations: China, Beijing, Chongqing, AFP, Taiwan, China's, Henan, Center for China, Asia

☆ China ‘two sessions’: Beijing sets ambitious economic growth target of ‘around 5%’ for 2024, vows to ‘transform’ economy
▼ + stars: | 2024-03-04 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +1 min

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Beijing CNN —China has set an ambitious economic growth target of “around 5%“ for 2024, as its leaders vowed to “transform the growth model” in the face of growing challenges. The growth rate for the budget is the same as last year’s. The gross domestic product (GDP) target and military spending are among the most closely watched figures during the opening day proceedings. The GDP target in particular is being closely monitored this year as China faces a raft of economic problems.

Persons: Premier Li Qiang, ” Li, ”, “ Organizations: Beijing CNN, Premier, National People’s Congress Locations: China, Beijing

☆ China PMI: Factories send mixed signals about the economy, pressing Beijing to do more
▼ + stars: | 2024-03-01 | by ( Laura He | ) edition.cnn.com time to read: +4 min

But the Caixin manufacturing PMI — which focuses on smaller, private companies — rose to 50.9 in February, up from 50.8 in January, according to S&P Global, which compiled the survey. The divergence in the output and new order sub-indexes is likely related to differences in geographic and sector coverage, as the Caixin PMI covers more southern regions, they said. “Overall, the manufacturing sector continued to improve in February,” said Wang Zhe, senior economist at Caixin Insight Group, in a statement that accompanied the Caixin PMI data. “Looking ahead, the focus should be on the effectiveness of the measures [announced previously by Beijing to boost growth],” Wang said. “Fiscal policy will lead the way,” HSBC analysts said Friday.

Persons: ” Goldman Sachs, ”, Wang Zhe, ” Wang, Xi Jinping, Lintao Zhang, “ Organizations: Hong Kong CNN, National Bureau of Statistics, P, National People’s Congress, PMI, Caixin Insight, “, of People, Communist Party’s Politburo, NPC, Xinhua, HSBC Locations: China, Hong Kong, Beijing, Southern China, Guangdong, Zheijang, ” China

☆ China issues new bonds to prop up economy as global investors flee at 'unprecedented' pace
▼ + stars: | 2023-10-25 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Foreign fund outflows from China’s so-called A-share market have entered “an unprecedented stage,” Morgan Stanley strategists wrote in a recent note. A-shares are yuan-denominated shares of mainland China firms that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange. This seems highly unlikely under Xi.”Even Chinese investors seem to be plagued by a growing lack of faith in the future of the country’s economy. It will hit the economy in an all-around and indiscriminate way,” the fund said in a letter to its investors, which went viral. “Xi might wield vast control in China, but he can’t compel global investors to buy into his vision or risk their capital,” he said.

Persons: ” Morgan Stanley, ”, Alex Capri, Xu jingbai, ICHPL, Brock Silvers, Beijing’s “, Apple’s iPhones, George Magnus, Joe Biden, Goldman Sachs, Derek Scissors, Xi, Craig Singleton, Xi Jinping, “ Organizations: Hong Kong CNN — Investors, Shanghai Stock Exchange, Shenzhen Stock Exchange, Connect, CSI, Foundation, National University of Singapore Business School, Chinese Communist Party, Kaiyuan, “, China’s Taiwan Affairs Office, China Centre of Oxford University, Global, People’s Bank of China, National People’s, Central Huijin Investment, American Enterprise Institute, Dingtai, Foundation for Defense of Democracies Locations: China, Hong Kong, Beijing, China’s, Shanghai, Shenzhen, Hai'an, China's Jiangsu, Capri, United States, ”

Beijing CNN —China’s Defense Minister Li Shangfu was fired on Tuesday two months after he disappeared from public view, becoming the second high-profile minister to lose his job recently without any official explanation. Li, who was appointed defense minister in March, has not been seen in public since late August, fueling intense speculation about his fate. Li’s ousting, ironically, has removed a major roadblock for the resumption of high-level military talks between China and the United States. The Financial Times also reported that the US government believes the defense minister has been placed under investigation, citing American officials. Li is believed to be a protege of General Zhang Youxia, Xi’s childhood friend and closest ally in the military.

Persons: Li Shangfu, Li, Xi Jinping, –, outranks, Qin Gang, Qin, Xi, Li’s, won’t, “, General Zhang Youxia, Zhang Organizations: Beijing CNN — China’s, Central Military, National People’s Congress, Foreign, Qin, Communist, of, People, Xinhua News Agency, Getty, PLA Rocket Force, Street Journal, The Financial Times, Defense Ministry, Central Military Commission, Development Department, Rocket Force, Equipment Development Department, Security Forum Locations: Beijing, China, United States, Sichuan, Africa, Russia, Belarus

☆ China considering ban on clothing that ‘hurts feelings’ of nation
▼ + stars: | 2023-09-11 | by ( Chris Lau | ) edition.cnn.com time to read: +5 min

The wording of the draft amendment is reminiscent of language used by Beijing to rein in free speech at home or to hit back at perceived slights by foreign countries and businesses. Several legal scholars have also questioned the implicit vagaries of the proposed amendment and the absence of specific guidelines. “State power directly interferes in the field of individual citizens’ daily clothing, which is obviously an overreaching intervention,” she wrote on Weibo. In the wake of this month’s draft amendment, one Weibo user questioned whether cosplayers or kimono-clad employees of Japanese restaurants might fall afoul of the proposed rules. “Why don’t we wear Chinese tunic suits or Hanfu?” he asked.

Persons: Hong Kong CNN —, ”, Mark Schiefelbein, Tong Zhiwei, ’, Lao Dongyan, meanwhile, Lao Organizations: Hong Kong CNN, country’s Public, AP, East China University of Political Science, Law, Twitter, Beijing’s Tsinghua University Locations: China, Hong Kong, Beijing, Shanghai, Weibo, today’s China, Japan, Suzhou

☆ Xi Jinping’s foreign minister ousted after month-long unexplained absence from public view
▼ + stars: | 2023-07-25 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s foreign minister Qin Gang was dramatically ousted on Tuesday after a prolonged absence from public view and replaced by his predecessor in a surprising and highly unusual shake-up of the country’s foreign policy leadership. Qin, 57, a career diplomat and trusted aide of Chinese leader Xi Jinping, had only been appointed foreign minister in December after serving as China’s ambassador to Washington. Wang, who was foreign minister from 2013 to 2022, now serves as director of the foreign affairs arm of the ruling Communist Party, a position which makes him China’s top diplomat. The appointment of a foreign minister through a vote during a China’s National People’s Congress Standing Committee meeting is a deviation from past precedents. Qin’s disappearance from China’s foreign affairs schedule has not been fully explained by the ministry, which briefly cited “health reasons” when he missed a diplomatic gathering earlier this month.

Persons: Hong Kong CNN —, Qin Gang, Qin, Xi Jinping, Wang Yi, Wang, Andrey Rudenko, Wagner, Xi, ”, Deng Yuwen, Deng, they’ve Organizations: Hong Kong CNN, Communist Party, Russian, Association of Southeast Asian Nations, ASEAN, Xi, CNN, Senior Locations: Hong Kong, Washington, China, Beijing, Sri Lanka, Vietnam, Russia, Indonesia, South Africa, Johannesburg

☆ China Replaces Foreign Minister Missing From Public View Since June
▼ + stars: | 2023-07-25 | by ( Chris Buckley | More About Chris Buckley | ) www.nytimes.com time to read: +1 min

China’s foreign minister, Qin Gang, has been removed from office after disappearing from public view 30 days ago, abruptly ending the career of a diplomat who leaped to the top as one of President Xi Jinping’s most trusted rising stars, the Chinese government announced on Tuesday. The official decision that Mr. Qin had been replaced — and his spot taken by the former foreign minister, Wang Yi — capped weeks of speculation about his fate. As speculation grew, the Chinese Ministry of Foreign Affairs claimed that Mr. Qin had health problems. The lack of clarity appears sure to fan speculation among Chinese commentators and seasoned observers about the circumstances behind one of the most dramatic falls of a high-flying Chinese official in recent times. Whatever the veracity of those theories, Mr. Qin’s downfall is an awkward moment for Mr. Xi, who catapulted Mr. Qin into his powerful role as minister ahead of other older, longer-serving diplomats.

Persons: Qin Gang, Xi Jinping’s, Qin, —, Wang Yi —, Xi Organizations: Chinese Ministry of Foreign Affairs, National, Committee Locations: China’s, United States

☆ For New Zealand exporters, China both a target and a risk
▼ + stars: | 2023-06-22 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Wellington has historically taken a more conciliatory approach towards China than Australia or its other Five Eyes security partners. “Building of North Asia (markets) and the building of Southeast Asia (markets) is really, really crucial because it's de-risks that dependency,” Talbot said. CALLS FOR DIVERSIFICATIONThere is no expectation that New Zealand will stop selling to China. China needs the food and fibre that New Zealand produces and is prepared to pay for it. “China is going to be a really, really fundamental trading partner for this country for the foreseeable future,” Pete Chrisp, chief executive of government funded international business development agency New Zealand Trade and Enterprise.

Persons: Chris Hipkins, Jacinda Ardern, Xi Jinping, ”, Mathew Talbot, it's, ” Talbot, New Zealand Wang Xiaolong, “, ” Hipkins, Hipkins, Li Qiang, Zhao Leji, Xi, It's, Pete Chrisp, Lucy Craymer, Martin Quin Pollard, Lincoln Organizations: New Zealand, New, Alliance, National People’s, New Zealand Trade, Enterprise, Thomson Locations: China, Australia, New Zealand, Wellington, Asia, Southeast Asia, Zealand, North America, Beijing

☆ China GDP: Economy shakes off Covid legacy to grow 4.5% in Q1
▼ + stars: | 2023-04-17 | by ( Laura He | ) edition.cnn.com time to read: +5 min

But private investment barely budged and youth unemployment surged to the second highest level on record, indicating the country’s private sector employers are still wary about longer term prospects. Retail sales jumped 10.6% in March from a year earlier, the highest level of growth since June 2021. The country’s GDP will grow 5.2% this year and 5.1% in 2024, it predicted. If adjustments are made to account for the impact of delayed economic activity, GDP growth in the first quarter could have been just 2.6%, he said. For example, private investment was extremely weak.

☆ China’s Communist Party Overhaul Deepens Control Over Finance, Technology
▼ + stars: | 2023-03-16 | by ( Chun Han Wong | Keith Zhai | ) www.wsj.com time to read: 1 min

Delegates applauding as Chinese leader Xi Jinping, left, arrives at the closing ceremony for China’s National People’s Congress in Beijing on Monday. China’s Communist Party unveiled a broad overhaul strengthening its role in managing finance, social affairs and technological development, as part of leader Xi Jinping ’s efforts to entrench his brand of top-down rule. A lengthy directive published by state media on Thursday evening outlined the creation of new party agencies and the restructuring of some existing bodies—changes that reinforced the party’s dominance over the government bureaucracy in policy-making. The directive said the shake-up is aimed at improving the party’s ability to govern and exercise “centralized and unified leadership.”

☆ China’s economic recovery is on track. But youth unemployment is getting worse
▼ + stars: | 2023-03-15 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s economic recovery appears to be on track as it gradually emerges from three years of its strict zero-Covid policy. But rising youth unemployment underscores the tough challenges ahead for the new government to achieve its economic targets and maintain social stability. “The economic data released today confirmed the recovery in China was well on track,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management. Recent PMI figures had indicated a strong recovery in China’s economic activity, with February’s factory output from large, state-owned enterprises hitting the highest level in more than a decade. A large number of employment seekers line up outside a job fair in Nanning, Guangxi province on February 18, 2023.

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