China’s State Council urged an extension of electric car incentives, as the government seeks to stimulate consumer demand for new-energy vehicles.

The foundation for China’s economic recovery is not solid yet, the nation’s state radio reported late on Friday (June 2), citing a State Council meeting chaired by Premier Li Qiang. China will therefore extend and optimise new-energy vehicle purchase tax exemptions, the report said, without giving more detail.

China urges extension of EV incentives amid lacklustre demand

The sharpest rally for Chinese stocks in three months is doing little to convince money managers that the market is set for a sustained turnaround.

Sharp rally in Chinese stocks falls short of dispelling gloom

China is working on a new basket of measures to support the property market after existing policies failed to sustain a rebound in the ailing sector, according to people familiar with the matter.

Regulators are considering reducing the down payment in some non-core neighbourhoods of major cities, lowering agent commissions on transactions, and further relaxing restrictions for residential purchases under the guidance of the State Council, the people said, asking not to be named because the matter is private.

China mulls new property-market support package to boost economy

China's yuan has skidded to six-month lows against the dollar and analysts say it could weaken further as investors fret over a bumpy pandemic recovery in the world's second-largest economy.

China's yuan may slip further to aid economic recovery — analysts

SYDNEY/BEIJING (June 2): Bank of China chairman Ge Haijiao has travelled to Papua New Guinea (PNG), as the world's fourth-largest bank seeks an operating licence in the Pacific Islands nation, which is seeking to boost China trade, while expanding US defence ties.

Bank of China chairman visits Papua New Guinea amid Sino-US strategic rivalry

China Evergrande Group faces more than a thousand lawsuits involving 350 billion yuan (US$49 billion or RM227.21 billion), underscoring the challenges for the world’s most indebted developer as it seeks to restructure its borrowings.

Evergrande unit faces 1,426 lawsuits involving US$49b

Goldman Sachs Group Inc cut its target for the MSCI China Index on earnings and currency concerns, but maintained its "overweight" recommendation, saying investors’ fears have been priced in.

Goldman cuts China index target while retaining 'overweight' call

Financial stress faced by China’s local governments is limiting fiscal support for the economy’s recovery, with half of cities facing difficulty in managing the interest payments on their debt last year.

Half of China cities face debt service difficulty, says Rhodium

Having sweltered through May, southern and eastern China face more weeks of unrelenting heatwaves, putting power grids under strain as demand for air-conditioning soars in mega-cities like Shanghai.

'Relentless' heatwaves scorch southern China, test power grids

Asian leaders accustomed to straddling the US-China divide are increasingly nervous that tensions between the world’s two superpowers could spiral toward conflict, with a series of decisions on both sides making it harder for Beijing and Washington to find common ground.

Fear of US-China conflict looms over Singapore defence forum

Exxon Mobil Corp is forging ahead with a multibillion-dollar petrochemical complex that’s the cornerstone of its growth strategy in China, even as political tensions push other corporations to reassess their exposure there.

Exxon bets on China's chemicals growth even as US relations sour

China’s manufacturing surveys this week provided contradictory signals of factory activity in May, suggesting the outlook for the world’s second-largest economy remains uncertain, and policymakers may need to do more to spur growth.

China’s mixed factory surveys show recovery still uncertain

The boom-and-bust in Chinese airline stocks is another sign that investors are losing patience with the country’s slow recovery months after it lifted Covid-19 restrictions. 

The country’s three largest carriers — China Southern Airlines Co Ltd, Air China Ltd, and China Eastern Airlines Corp Ltd — went from being among the world’s top performing airline stocks in the fourth quarter to becoming the worst losers so far this year, according to data tracked by Bloomberg. The trio’s Hong Kong-listed shares have fallen more than 16% this year, while a Bloomberg gauge tracking global airlines has gained 3%.

China's carriers worst airline stocks as reopening bet fades

China's new home prices fell for the first time in four months in May and home sales slumped, according to a private survey, adding to pressure on a property market which is struggling to stabilise from a sharp slump.

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