China’s trade suffers worst slump in 2-1/2 yrs as COVID woes, feeble demand take toll
China’s exports and imports shrank at their steepest pace in at least 2-1/2 years in November, as feeble global and domestic demand, COVID-led production disruptions and a property slump at home piled pressure on the world’s second-biggest economy.
Apple supplier Foxconn adjusts production to avoid holiday blues
Apple Inc supplier Foxconn said on Thursday it expected smartphone revenue to fall this quarter and is adjusting production to prevent recent COVID-19 curbs at a massive iPhone factory in China from impacting holiday orders.
Shares dip, dollar strengthens as markets eye U.S. inflation data
Shares dipped slightly and the dollar firmed on Thursday, ahead of U.S. inflation data that will influence the Federal Reserve’s rate plans, while the likely collapse of a major digital asset exchange rattled crypto investors.
Analysis: China’s mortgage boycott quietly regroups as construction idles
Two months since many Chinese homebuyers stopped repaying mortgages to protest stalled construction on their properties, a lack of progress at more sites now threatens to intensify the boycott, despite assurances from authorities.
China plans real estate fund worth up to $44 billion for distressed sector, source says
China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in the industry, according to a state bank official with direct knowledge of the matter.
Chinese cities tighten COVID-19 curbs as Tianjin battles Omicron outbreak
Cities across China are imposing tougher restrictions to try to control new outbreaks of COVID-19, with Tianjin battling the highly contagious Omicron variant which has been detected to have been transmitted locally in two other provinces.
