Chief Economics Correspondent, China
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Aug 3, 2010

Special Report: China bets future on inland cities

GUSHI, China (Reuters) – China has put big money down on a momentous gamble: rush to build new cities in its poor interior, then wait for people to come and help drive the economy to a new stage of growth.

Here in this corner of the Chinese hinterland, the government has widened farm lanes into highways, turned wheat fields into an industrial park, spent a fortune on government offices, and set up a school for thousands of students in what was a dusty town a few years before.

Aug 3, 2010

China vows to develop gold market as demand rises

BEIJING (Reuters) – China’s central bank will allow more domestic banks to export and import gold as part of a series of steps to encourage more liquid trade, it said on Tuesday, which could underpin its growing demand for the precious metal.

The People’s Bank of China also said that it would allow banks to hedge their bullion positions in overseas markets; urge banks to lend more to domestic gold firms looking to go abroad; and actively develop more yuan-denominated gold derivatives.

Jul 15, 2010

China economy cools in second quarter

BEIJING (Reuters) – China’s economy cooled in the second quarter, a slowdown that is likely to extend over the rest of the year as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis.

Annual gross domestic product growth moderated to 10.3 percent from 11.9 percent in the first quarter, the National Bureau of Statistics (NBS) said on Thursday. The reading was slightly below market forecasts of 10.5 percent growth.

Jul 15, 2010

China economy slows, still in Beijing’s comfort zone

BEIJING, July 15 (Reuters) – China’s economy cooled in the
second quarter, a slowdown that is likely to extend over the
rest of the year as Beijing steers monetary and fiscal policy
back to normal after a record credit surge to counter the
global crisis.

Annual gross domestic product growth moderated to 10.3
percent from 11.9 percent in the first quarter, the National
Bureau of Statistics (NBS) said on Thursday. The reading was
slightly below market forecasts of 10.5 percent growth.

Jul 15, 2010

China’s economy slows moderately

BEIJING (Reuters) – China’s economy slowed in the second quarter as the government steered monetary and fiscal policy back to normal after a record credit surge last year to counter the global crisis.

Annual gross domestic product growth moderated to 10.3 percent from 11.9 percent in the first quarter, the National Bureau of Statistics (NBS) said on Thursday. The reading was slightly below market forecasts of 10.5 percent growth.

Jul 15, 2010

China’s economy slows moderately, as Beijing wants

BEIJING (Reuters) – China’s economy slowed in the second quarter as the government steered monetary and fiscal policy back to normal after a record credit surge last year to counter the global crisis.

Annual gross domestic product growth moderated to 10.3 percent from 11.9 percent in the first quarter, the National Bureau of Statistics (NBS) said on Thursday. The reading was slightly below market forecasts of 10.5 percent growth.

Jul 14, 2010

No sunset yet for China’s property clampdown

BEIJING (Reuters) – Investors who bet that China will declare an early end to its property tightening campaign are doing so at their own peril.

While the government is likely to fine-tune real estate policy as the economy softens in the coming months, it is not about to reverse tightening measures that it believes are critical to safeguarding China’s long-run growth prospects.

Jul 11, 2010

China shrugs off global fears with export strength

BEIJING (Reuters) – China’s trade surplus in June topped expectations on surprising strength in exports that suggests the global economic recovery has remained on track despite worries about a fresh slowdown.

Many analysts believe the export momentum will soon wane, but for now the latest numbers give ammunition to critics who say that Beijing is holding down the value of its yuan currency to gain an unfair trade advantage.

Jun 28, 2010

G20 parts ways in search of lasting recovery

TORONTO (Reuters) – World leaders agreed on Sunday to take different paths for cutting budget deficits and making their banking systems safer, a reflection of the uneven and fragile economic recovery in many countries.

In a reversal from the unity of the past three crisis-era Group of 20 summits, the leaders left room to move at their own pace and adopt “differentiated and tailored” policies.

Jun 27, 2010

China opens door to G20 discussions on yuan

TORONTO (Reuters) – Chinese officials, in an abrupt change of emphasis, said on Saturday they welcomed discussions about currencies as part of global economic talks, but insisted Bejing alone should determine policy on the yuan.

Their openness at the Group of 20 summit in Toronto to allow at least some discussion about exchange rates represented a softer line than in recent weeks.

    • About Simon

      "Simon has been chief economics correspondent for China since October 2010. He joined Reuters in 2006 and spent a year in London before being posted to Beijing. Simon has a B.A. from McGill University in Canada and a Master's from the University of Oxford."
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