Chinese factory activity shrank at its fastest pace in six and a half years in September, data showed Wednesday, the latest in a litany of bad news undermining hopes of an uptick in the world`s second-largest economy.
The White House has urged China which is facing one of the worst financial crises in decades - to continue to pursue financial reform and move rapidly toward a more "market-determined" exchange rate system.
A key indicator of China's manufacturing activity slumped to a 77-month low in August, an independent survey showed today, fuelling concerns of further deceleration in the world's second-largest economy.
China`s factory sector contracted by the most in 15 months in July as shrinking orders depressed output, a preliminary private survey showed on Friday, a worse-than-expected result that should reinforce bets the struggling Chinese economy will get more stimulus.
China`s economy grew an annual 7.0 percent in the second quarter, steady with the previous quarter and slightly better than analyst forecasts, though further stimulus is still expected after the quarter ended with a stock market crash.
China may invest its huge USD 500 billion pension fund into the volatile stock market, a move officials say will keep up its value and improve management as the world's second largest economy faces challenges arising out of growing ageing population.
Economists at China`s central bank have sharply lowered their 2015 inflation forecast even as they predicted that stabilising Chinese home prices and firmer foreign demand will drive a pick-up in the world`s second-biggest economy in the next six months.
Activity in China`s services sector accelerated in May as new business rose at the fastest pace in three years, a private survey showed on Wednesday, a rare piece of good news for policymakers struggling to reviving a cooling economy.
The forecast by the State Information Centre backed last month`s move by China`s central bank to cut the amount of cash that banks must hold as reserves, the second industry-wide cut in two months, to combat slowing growth.
China`s economy probably cooled further to grow 7 percent in the first three months of the year, a Reuters poll showed, which would be the weakest pace in six years and raise pressure on policymakers to do more to bolster growth.