International Reserves in China
China - International ReservesIn an unprecedented move and highlighting the significant challenges facing the economy following the Covid-19 outbreak, the country's top leadership decided to remove its traditional annual economic growth target at the opening of the National People's Congress (NPC) on 22 May. Instead, Premier Li Keqiang stressed the importance of stabilizing jobs and alleviating poverty. Against this backdrop, the government unveiled a larger fiscal deficit target for this year and off-budget measures to shore up economic growth and support employment. According to analysts, the size of the total fiscal stimulus will amount to around 7% of GDP. Meanwhile, the economy is slowly recovering from the coronavirus-induced economic shock in the first quarter, when GDP shrunk for the first time in decades. That said, retail sales remained weak in April, suggesting that private consumption is faltering, while April's rebound in exports will likely be short-lived as most of China's main trading partners are struggling with the pandemic.
China - International Reserves Data
|International Reserves (USD)||3,899||3,406||3,098||3,236||3,168|
5 years of economic forecasts for more than 30 economic indicators.
China International Reserves Chart
Source: People's Bank of China and FocusEconomics calculations.
|Bond Yield||3.17||-0.40 %||Dec 31|
|Exchange Rate||6.96||-0.19 %||Jan 01|
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May 25, 2020
China’s top leadership decided to scrap its traditional annual growth target for this year, the first time since it was first established in 1994, highlighting the severity of the economic crisis facing the country.
May 18, 2020
House prices in 70 large- and medium-sized cities increased 0.5% in April in month-on-month terms according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS).
May 15, 2020
Nominal urban fixed asset investment fell 10.3% in the first four months of the year compared to the same period in 2019.
May 15, 2020
Industrial output grew 3.9% compared to the same month a year earlier in April, which contrasted March's 1.1% decrease.
May 15, 2020
Retail sales fell 7.5% year-on-year in April (March: -15.8% yoy).