Several US lawmakers have again invoked so-called security concerns to launch a probe into the Swedish-Swiss multinational engineering giant ABB Group s operations in China. Experts noted on Sunday that it is another typical case of US lawmakers politicizing normal business activities.
China s consumption in 2023 played a vital role in bolstering economic development. Final consumption contributed 82.5 percent of overall GDP growth, while retail sales set a new record of 47.15 trillion yuan ($6.62 trillion), data from the National Bureau of Statistics (NBS) showed on Wednesday.
The World Bank has issued a stern warning that the global economy is set for a “weakest” half-decade performance in three decades, as it forecasts a slower growth rate of 2.4 percent in 2024, down from 2.6 percent for 2023.
While foreign investment into China has been declining since the second quarter of 2023 due to a downturn worldwide, Chinese officials and analysts remain confident that China is still a top destination for global investors, thanks to measures to expand market access and improve the business environment.
China’s services sector continued to revive in December 2023 as its yearlong recovery kept on going, a survey showed on Thursday. The Caixin services purchasing managers’ index (PMI) – a private gauge – expanded at the quickest pace in five months in December to 52.9 from 51.5 in November.