China Economy
China Controls Expectations for Economy in 2024
Despite a relatively upbeat assessment of China’s economic performance in 2023, the Chinese government is controlling expectations for 2024 by setting economic targets that are nearly identical to those for 2023.
China Update - Chinese experts see no likelihood of major improvements in US-China relations - 13 December 2023
Chinese government propaganda hailed the meeting between presidents Biden and Xi in San Francisco on 15 November as a “historical milestone” in Sino-US relations, claiming that Xi reached at least three objectives.
US Targets Risks From Chinese Cranes in US Ports
Pamir assesses that the primary risk from maintaining a Chinese crane presence in US ports is China’s exploitation of data acquired through the monitoring of commercial inputs for a trade advantage. Although Chinese cranes can shut down port operations, barring a crisis situation, it is unlikely that China would resort to blunt measures that would impede trade flows.
USTR Report Details Beijing’s Non-Market Practices
Two decades of participation in the World Trade Organization have failed to alter China’s centralized approach of pursuing trade policies and practices that advantage Chinese economic interests.
China Risks Drive Taiwan’s Declining Investments
Once a mainstay of Taiwan investment, China has become increasingly unattractive to small- and medium-sized businesses that now seek to pull out completely within five years and invest elsewhere.
Beijing Tightens Financial Oversight
Pamir posits that the appointment of WU Qing as the new chair of the China Securities Regulatory Commission signals further tightening of financial oversight and an attempt to restore order in China’s financial industry.
China Update - US-China high-level economic talks - 17 November 2023
Following extensive talks with US Treasury Secretary Janet Yellen on 9-10 November, Chinese Vice Premier HE Lifeng said the two sides had reached “three important consensuses”.
China’s Economy Faces Challenges Ahead
The World Bank and UBS expect China’s 2024 GDP will grow 4.5%; Moody’s projected 5% is similar to forecasts by most Chinese economists.
Chinese Private Space Enterprise Completes Vertical Takeoff, Vertical Landing Rocket Test
In January, Chinese private space enterprise LandSpace completed a “hop test” of its Vertical Takeoff, Vertical Landing (VTVL) rocket at the Jiuquan Satellite Launch Center. This was another step in China’s efforts to become commercially competitive in reusable launch technology.
Boeing’s Challenges Press China's Emerging Aircraft Industry
On 27 January a Boeing 737 MAX 8 ordered by China Southern Airlines touched down in Guangzhou. This was the first delivery of a 737 MAX to China following a nearly five-year import ban.
China Pharma Market Demand for Diabetes and Weight Loss Drugs Expands
On 26 January China’s National Medical Products Administration announced that it had approved Novo Nordisk’s Rybelsus treatment for Type-2 diabetes, making it the first orally administrated GLP-1 receptor agonist drug available in the burgeoning Chinese market.
China’s renewable energy battery storage sector is enjoying a boom
China is forging ahead with new renewable energy systems – and battery storage technologies that are needed to store intermittent energy sources, such as wind and solar.
Italy confirms intention to leave China’s Belt and Road Initiative
Italy joined China’s BRI initiative in March 2019 despite heavy U.S. criticism, but as Rome’s presidency of the G7 approaches in March 2024, Italy Prime Minister Giorgia Meloni has formally announced that Italy will not renew its BRI accord, which is set to renew in the same month.
China Accelerates Space Dominance Pursuit
2024 is poised to be a pivotal year for China's space endeavors. A notable milestone will be the Chang'e 6 lunar mission to mark China's second attempt at returning lunar surface samples to Earth following the success of the Chang’e 5 mission in 2023.
Xi Jinping’s Anti-Graft Campaign Seeks To Deflect Economic Pressure
On 8 January Xi Jinping, who also is General Secretary of the Chinese Communist Party, addressed the annual meeting of the Party’s Central Commission for Discipline Inspection and pledged that the Party will show no leniency for corruption.
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