Local governments are cutting incomes for civil servants and shutting down public services to save costs.
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The upcoming election in Taiwan is a three-way contest; for now, the incumbent DPP is in the lead.
The RMB has gained 2% against the USD over the past few days as the USD fell against most major currencies.
China’s oil demand has turned out much stronger than expected and may end up accounting for 75% of global growth in 2023.
China’s economy sent mixed signals in October; retail sales and industrial value-added growth beat expectations, but momentum slowed.
Industrial profits appear to be recovering, and private fixed asset investment is likely to follow suit next year.
China’s capital account saw a large deficit due to an unprecedented decline of FDI and an increase of ODI.
China has lowered its market entry barriers, but slowing growth and rising risks have also made it less attractive to investors.
This year’s Central Financial Work Conference struck a more cautious tone than the last such meeting, held in 2017.