News about China

China's economy grew 4.5% in the July–September quarter from a year earlier, faster than the 4.3% in April–June, which was the slowest pace in more than three years, thanks to robust exports. The annual growth target is 4.5%–5%, down from 5% last year, and the IMF has trimmed its forecast for China's 2026 growth to 4.5%. Domestic demand remains weak amid a prolonged property slump, while exports rose 36% last month and the trade surplus reached $938 billion from January to September, putting China on track to surpass last year's record $1.2 trillion. The EU, which runs a trade deficit with China of more than $1.1 billion a day, has agreed with Beijing to roughly halve Chinese hybrid vehicle imports over the next few years, though economists say trade imbalances will be hard to resolve quickly.

China's third-quarter economic growth came in at 4.5%, rebounding from three-year lows and beating forecasts, as a surge in exports offset consumers' tight spending. Analysts warn that growing reliance on external drivers is deepening structural imbalances, while the property market remains in a downturn that has eroded household wealth over the past five years. Weak domestic demand has pushed firms such as Zhang Chao's motorbike headlight maker to shift toward exports, while fierce price wars are forcing companies to cut costs, including payroll. Trade surpluses with Germany and France each jumped more than 200% year-on-year in September, prompting the EU to agree to limit hybrid car exports and plan further curbs. The 5.2% unemployment rate may be flattered by the gig economy, where anyone working even one hour a week counts as employed; Societe Generale economist Michelle Lam warns that without a shift toward supporting household incomes, China risks a prolonged period of low inflation and sub-par growth.

China's economy grew 4.5% in the July–September quarter from a year earlier, faster than the 4.3% pace in April–June, driven by strong exports and moving it closer to the 4.5%–5% annual target. Domestic demand remains weak, weighed down by a prolonged property slump, and economists warn the headline growth figure increasingly masks disparities across industries, regions and households. Exports rose 36% last month, and the trade surplus reached $938 billion from January to September, putting China on track to surpass last year's record $1.2 trillion. The EU, which runs a trade deficit with China of more than $1.1 billion a day, is pressing for rebalancing after the two sides agreed to roughly halve Chinese hybrid vehicle imports. Some partners argue an undervalued yuan has added to the surplus, a claim China's central bank rejects.

China said its economy grew 4.5% from a year earlier in the July-September quarter, faster than the 4.3% pace in the previous quarter, driven by robust exports. Domestic demand remained weak, as a years-long property downturn has squeezed household wealth and driven up savings. Exports grew 36% last month, and the trade surplus reached $938 billion from January to September, on track to surpass last year's record $1.2 trillion. The European Union, where the deficit with China exceeds $1.1 billion a day, is pressing Beijing to rebalance trade, as exports to the EU rose 16% in the first nine months of the year. Analysts warn that this export-reliant growth model has created limited job gains, while the yuan is accused of being undervalued.

China's GDP grew 4.5% year on year in the third quarter of 2026, beating the 4.4% forecast and rebounding from 4.3% in the second quarter, a three-year low. Growth averaged 4.6% over the first nine months, in line with Beijing's 4.5%–5% target for the year, driven by tech exports and a record monthly trade surplus of US$133.5 billion. However, retail sales rose only 1.1% in September, urban fixed-asset investment fell 7.2% and property development investment slumped 20.6% in the first nine months. Producer prices rose 5% mainly on fuel costs, while consumer inflation stayed below 1%, pointing to weak domestic demand. Economists said the prolonged housing crisis and supply-demand imbalance may limit spillovers, and the strong data could reduce pressure on Beijing to deploy needed stimulus.

China's economy grew 4.5% in the third quarter, beating forecasts, as strong exports offset weak consumer spending and a prolonged property downturn. Analysts expect Beijing to reach its 2026 target of 4.5%-5.0% without additional stimulus, but warn that growing reliance on external drivers is deepening structural imbalances. Retail sales again lagged industrial output, fixed-asset investment fell 7.2% in January-September, and the job market has weakened. The yuan firmed to its strongest level since July 2022 on Monday.

China's economy grew 4.5% year on year in the third quarter, faster than the 4.3% in the second quarter and the 4.4% median forecast, lifting growth for the first nine months to 4.6%, within the 4.5%-5% annual target. ANZ's Xing Zhaopeng said bigger fiscal spending helped investment and retail sales, but the recovery remains unsolid and carries downside risk into 2027. Stronger data may give policymakers room to hold off on more easing, though property investment fell 20.6% in the first nine months and domestic demand is still soft. Exports are propping up growth, and the trade surplus is on track to exceed last year's $1.2 trillion record, drawing pressure from trade partners who want a stronger yuan, which the IMF sees as undervalued by a midpoint of 21.3%.

China's economy grew 4.5% in the July-September quarter from a year earlier, beating expectations and up from 4.3% in April-June, which was the slowest pace in more than three years. The growth brings Beijing closer to its 2026 target of 4.5%-5%, although the IMF has cut its forecast for China to 4.5%. Exports rose 36% last month, and the trade surplus reached $938 billion between January and September, putting China on course to exceed last year's record $1.2 trillion, driven by high-tech goods and electric and hybrid vehicles. Domestic demand remains weak amid the property downturn, and analysts say the headline figure hides wide gaps across industries, regions and households. The EU and China agreed this month to roughly halve Chinese hybrid vehicle imports over the next few years, but European countries are considering further curbs on Chinese products.

Asian share markets mostly slipped Monday on worries about AI's huge funding needs, though Chinese data beat forecasts, with third-quarter GDP growing 4.5% and retail sales up 1.1%. Indonesia's stock index fell 5% to its lowest since 2020 after MSCI said it was considering moving the country from emerging-market to 'standalone' status. Oil fell after Trump waived some Russia sanctions, with Brent down 1.8% to $107.83 a barrel and the 10-year Treasury yield dropping 4 basis points to 5.0525%. The yuan strengthened to 6.6828 per dollar, its firmest since July 2022, while the euro dipped toward its 16-month low. Investors are awaiting this week's earnings from Meta, Tesla and other companies.

Nio's U.S.-listed shares rose nearly 1% overnight after the company reported that its third-quarter China sales surpassed BMW, Mercedes-Benz and Audi individually for the first time. Nio recorded 111,638 vehicles in China, versus 107,210 for BMW Group, 99,592 for Mercedes-Benz and 94,597 for Audi. Nio also outsold each German brand in eight provincial-level markets and 40 cities, including Beijing, Shanghai and Guangdong. CEO William Li praised Tesla's Roadster demo, though Tesla says its single-seat Rocket version is invitation-only and not approved for public roads. For its Firefly brand, Nio plans a 60-kWh CATL battery on October 23 offering 560 km under CLTC, up from the current 42.1-kWh pack.

China's third-quarter GDP grew 4.5%, beating forecasts and rebounding from three-year lows as booming exports offset weak consumer spending. Analysts expect Beijing to meet its 2026 target of 4.5% to 5% without additional stimulus, but warn that reliance on external drivers is deepening structural imbalances. Retail sales rose 1.1% in September, lagging industrial output growth of 5.5%, while fixed-asset investment fell 7.2% in January-September and the property sector remains in a downturn. Exports rose more than a third, and trade surpluses with Germany and France each jumped over 200% in September, prompting the EU to plan further curbs.

China said its economy grew 4.5% year on year in the July-September quarter, faster than expected and up from 4.3% in April-June, which had been the slowest expansion in more than three years, driven by robust exports. Beijing's full-year growth target is 4.5%-5%, down from 5% last year, and the IMF has trimmed its 2026 forecast to 4.5%, the lower end of that goal. Domestic demand remains weak, with a prolonged property slump squeezing household wealth and driving up savings. Exports rose 36% last month, and the trade surplus reached $938 billion from January to September, putting China on track to surpass last year's record $1.2 trillion. Trade partners, including the EU, which runs a trade deficit with China of more than $1.1 billion a day, are pressing for rebalancing, while economists warn that an export-reliant model could drag on global growth.

Accenture is reportedly considering selling its Greater China business, which covers mainland China, Hong Kong and Taiwan, in a deal that could value it at up to $1.5 billion, according to the Financial Times. The potential divestment is part of a push to sharpen strategic focus amid uncertainty over how AI will reshape consulting. The company has hired JPMorgan to explore options after receiving unsolicited interest over the past year, with private equity firms and select strategic buyers expected to evaluate a deal, and it may keep a significant minority stake, though the review may not lead to a transaction. Operations in China have grown more complex due to regulatory hurdles and tighter data security rules, while a sale could free capital for AI acquisitions, client pricing and shareholder returns. Accenture reported global revenue of $74.2 billion for the financial year ended in August, and its shares have risen 85% from their June low.

Asian currencies traded flat to slightly higher on Monday while the dollar held steady after a 0.4% weekly fall that ended a four-week winning streak. The yuan reached its strongest level since July 2022, with onshore USD/CNY down 0.1% to 6.6816, after China's third-quarter GDP grew 4.5% year on year, beating the 4.4% forecast. September industrial output rose 5.5% and retail sales 1.1%, but property investment fell 20.6% in the first nine months and fixed-asset investment dropped 7.2%, which could limit the yuan's gains. The yen was near 158 per dollar amid intervention fears, while the rupee posted its strongest weekly performance in nearly four years after Reserve Bank of India measures to curb dollar demand. The Australian dollar gained 0.4% and the won strengthened 0.2% against the dollar.

China's economy is likely to have grown 4.4% year-on-year in the third quarter, up from 4.3% in the second quarter, which was the weakest pace in more than three years, according to a Reuters poll. That still falls short of the 4.6% forecast in a July poll and below the official 4.5%–5% target, with strong exports and tech-goods demand masking weak consumption and private investment. The trade surplus widened more than expected in September and is on track to top last year's record US$1.2 trillion, likely heightening trade tensions with partners such as the EU. Beijing has added targeted rate cuts, mortgage subsidies and 550 billion yuan in unused debt quotas, and ING's Lynn Song sees room for more support to boost jobs, incomes and domestic demand. Analysts polled by Reuters expect benchmark lending rates to stay unchanged through the first quarter of 2027.

On October 8, the People's Bank of China (PBOC) issued a document on the renminbi exchange rate, rejecting claims that the currency is deliberately undervalued to gain an export advantage. China's trade growth accelerated to 15.3% in the first quarter, 18.3% in the second and 22.3% in the third, the fastest for the same period in five years, with equipment manufacturing driving nearly 90% of export growth. Exports of integrated circuits rose 99.1%, electric vehicles 72.3%, lithium-ion batteries 36.4% and wind turbine parts 22.4%. Experts attribute China's competitiveness to technology, quality and logistics rather than price, and the article cites PBOC data showing China's export share rising in periods when the RMB appreciated, suggesting the exchange rate alone cannot explain export performance.

In an interview with Beijing Review, Zong Liang, a senior researcher at the World Finance Forum, argues that the renminbi is not deliberately undervalued. He notes that the currency weakened until early April 2025 before recovering, and broke through 6.9 per dollar in February 2026, its highest level since April 2023. The PBOC says the RMB appreciated about 9% against the U.S. dollar since the start of 2025, yet three effective exchange rate indices edged lower because the dollar index fell 9.4%. Forex reserves reached $3.3579 trillion by late 2025, up 5%, mainly due to valuation effects rather than large-scale purchases. He adds that the record current account surplus reflects the gap between domestic saving and investment, not the exchange rate alone.

Industrial output in China rose 5.5% year on year in September, above the 5.4% forecast and up from 5.2% in August, while retail sales of consumer goods grew 1.1%, more than double the expected 0.5%. The NBS manufacturing PMI climbed to 50.1 from 49.8, back above the 50-point expansion threshold. Third-quarter GDP grew 4.5% year on year, beating the 4.4% forecast, and the urban unemployment rate eased to 5.2% from 5.3%. Investment remained weak, with fixed-asset investment down 7.2% over January to September and real estate development investment down 20.6%, while services sales rose 5.0% against 1.0% for goods over the first nine months.

China's gross domestic product grew 4.5% year on year in the third quarter, according to the NBS, beating the Reuters poll forecast and up from 4.3% in the second quarter. Economist Tian Yun credited strong production and exports, especially AI-related high-tech goods, with exports rising more than 36% last month and the nine-month trade surplus nearing $940 billion. Fixed-asset investment fell 7.2% over the first nine months, while retail sales rose 2.6%. Authorities target 4.5% to 5% growth this year and pledged more effective policies but are limiting large-scale stimulus, and economists expect the central bank to keep its benchmark lending rate unchanged. Consumption and private investment remain weak amid volatile energy prices and a prolonged property crisis.

Russian Deputy Prime Minister Alexander Novak said Russia expects to deliver 39 billion cubic meters of gas to China via the Power of Siberia pipeline this year, more than the main contract, and the two sides agreed to raise supply to 44 billion cubic meters. He said the first Russian oil tanker bound for world markets, linked to a diesel-related deal with the US, had left the Arctic port of Dikson, and that Moscow faces no problems selling oil. Novak said the market is short 4-6 million barrels per day, keeping prices high and potentially pushing them higher if the Strait of Hormuz situation does not improve. He added that if Persian Gulf supply resumes, the market could rebalance within one to one-and-a-half years, while strategic oil reserves are nearly exhausted.

IMD professor Howard Yu says OpenAI and Anthropic may stay ahead of Chinese rivals, but a lead of roughly four to six months is 'very perishable' because most use cases don't need top-tier capability. He notes many companies use AI for simple tasks and weigh token spending against hiring, while cheaper Chinese open-source models can run inside a company's own data centers, a demand especially strong in Europe. Yu believes OpenAI and Anthropic will not be easily displaced in Western consumer markets thanks to easy access and clean interfaces, though enterprise buyers are more sophisticated. Polymarket traders still see U.S. labs leading, with Anthropic at about 43%, Alphabet at 42%, OpenAI near 8%, and Chinese labs around 1% or less to have the best AI model at end-2026.

China's GDP grew 4.5% year on year in the third quarter, up from 4.3% in the second quarter and above the 4.4% expected in a Reuters poll, as strong foreign demand for technology goods offset weakness in property and consumption. The monthly trade surplus hit a record $133.5 billion. Still, September retail sales rose 1.1%, beating forecasts, while urban fixed-asset investment fell 7.2% in the first nine months and real estate investment dropped 20.6%, pointing to weak domestic demand. Producer prices rose 5% in September, the fastest pace in over four years, while consumer inflation stayed below 1%, limiting firms' ability to raise prices. One economist forecasts full-year growth of 4.7%, and economists largely expect the People's Bank of China to keep benchmark lending rates unchanged this year.

Shares of ChangXin Memory Technologies (CXMT) fell 6.5% on Monday, even after the company forecast a sharp swing to profitability for January–September 2026. It expects net profit attributable to shareholders of 131 billion to 132.5 billion yuan ($19.58 billion), versus a net loss of 5.28 billion yuan a year earlier, on revenue of 265 billion to 270 billion yuan. The company attributed the improvement to surging AI computing demand that has boosted the global DRAM market, causing supply shortages and sharp price increases. CXMT now accounts for 10% of global DRAM revenue in Q3 2026, up from 5% a year earlier, according to Counterpoint Research.

The House prosecution panel expects the Ombudsman to file criminal cases against Vice President Sara Duterte and officials of her office and DepEd over alleged misuse of confidential funds, after the agency began evaluating evidence. The defense has not formally notified the impeachment court whether Duterte will testify when the trial resumes on Nov. 9. The Chinese Embassy dared lawmakers to act quickly on their threat to declare Ambassador Jing Quan persona non grata, saying it is tired of repeated warnings. As 2026 Asean chair, the Philippines will host the 20th AMMTC from Oct. 19 to 21, while nine economists polled expect the BSP to raise its key rate by 25 basis points to 5.25 percent at its Oct. 22 meeting. In sports, Alex Eala opens her Ningbo Open campaign against France’s Diane Parry.

The 2026 Paris Auto Show was bigger than past editions despite absences from BMW, MG and most Japanese OEMs, with Chinese brands such as BYD, Geely and XPENG showing affordable, tech-packed EVs. European carmakers are responding with faster EV development, sharper pricing and retro-inspired designs, including a revival of the city car segment that Chinese OEMs have largely avoided because EU tariffs squeeze its thin margins. The author singles out the new Smart #2, a two-seater with a 36 kWh LFP battery, a 290 km WLTP range and a 308-liter trunk, priced from 20,000 euros, and estimates it could sell around 40,000 units a year. The Citroën 2 CV revival, priced at 15,000 euros, will only begin deliveries in 2028, which the author sees as a drawback.

Samsung is reportedly preparing to exit its home appliances business in China, the latest step in a multi-year retreat that began with closing its smartphone production in 2019, followed by TVs and PCs. The article attributes this to domestic Chinese brands such as Haier, TCL, Hisense and Xiaomi offering products that are cheaper and higher quality, backed by vertically integrated supply chains and fast product cycles. It argues that European and Korean brands will have to accept thinner margins or retreat to the premium segment. The article also predicts the mass market will be dominated by low-cost Chinese devices, which would benefit consumers worldwide.

This link roundup from naked capitalism gathers headlines across many topics, including an Ebola outbreak in the DRC that has topped 9,235 confirmed cases and Amazon's over 1 million robot workers, which raise questions for human employees. Other items cover the war in Ukraine and Russian strikes on Ukraine's energy grid, catastrophic malnutrition and starvation levels in Gaza, Argentina's dispute with the UK over Falklands oil, and China's record $583 billion investment in science and technology. Financial links note record-high margin debt on Wall Street and airlines bracing for years of pain from inflation.

A tariff is a tax on imported goods, paid to U.S. Customs and Border Protection by the importer of record, though who ultimately bears the cost is a separate question. Studies of the 2018 and 2019 tariffs on steel, aluminum, washing machines and Chinese goods found nearly the full cost was passed through to U.S. importers and often consumers, while foreign exporters cut prices only modestly. Tariffs can also raise prices for domestic producers of the protected goods, add costs for industries using imported inputs, and provoke retaliation, as China's 2018 response forced the government to pay farmers tens of billions of dollars in aid. Presidents rely on laws including Section 232, Section 301, Section 201 and IEEPA, which was used in 2025 for broad tariffs and challenged in court up to the Supreme Court. The article advises checking the current status of those tariffs, since they have changed repeatedly.