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China’s FDI Flows Up 19.6% In 9 Months As Economy Remains Upbeat

Foreign direct investment (FDI) into the Chinese mainland rose, in actual use by 19.6 percent year on year (Y-o-Y) in the first nine months of the current year. According to the country’s Ministry of Commerce, while non-financial FDI into China totaled 859.5 billion yuan between January and September, FDI into the Chinese mainland totaled $129.3 […]

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China’s Firms Suffer Power Outages, Smartphones’ Prices May Soar

Power outages in China’s industrial sector have been reported in some major cities and provinces with the potential that global shoppers, including Nigerians, may face possible shortages of smartphones and other goods ahead of Yuletide celebrations. The ugly development had negatively affected official energy use targets, thereby forcing Chinese factories to shut down while also […]

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China’s Factory, Retail Sectors’ Output Dips In August

China’s factory and retail sectors slumped in August with output and sales growth hitting one-year lows as new COVID-19 variant adversely affected supply of goods and service, thereby undermining the government’s economic recovery drive. Industrial production rose 5.3 per cent in August from a year earlier, dropping marginally from an increase of 6.4 percent recorded […]

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China’s Economy Plunges As Delta Virus Devastates Key Sectors

China’s economy took a knock from the Delta virus outbreak in August, thereby accentuating signs of a slowdown in growth in the second half of the year and fueling speculation of more central bank support. During the month under review, the official purchasing managers surveys showed the services industry contracted for the first time since […]

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China Introduces VAT, Property Tax Reliefs For Residential Property Leasing

The Chinese government has announced tax reliefs for residential property leasing operators as part of its efforts to support the growth of real estate and housing sub-sector of the nation’s economy. The latest fiscal measure by the government was jointly made by the country’s Ministry of Finance, State Administration of Taxation, and Ministry of Housing […]

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China Forecasts Over 560M 5G Users By 2023

China on Tuesday projected that the number of 5G users would exceed 560 million by 2023. According to a recent guideline on the country’s telecom industry issued by 10 state agencies, including the Ministry of Industry and Information Technology, the 5G network is expected to be used by over 40 percent of personal mobile phone […]

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Buhari Being Welcomed By Nigerian Diplomats On His Arrival In China On Saturday, September 1 For The Beijing Summit

President Muhammadu Buhari (centre in brown caftan) being welcomed by Nigerian diplomats on his arrival in China on Saturday, September 1 for the Beijing Summit and to hold bilateral relations meeting with his Chinese counterpart, Xi Jinping.

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China Announces $60Bn Economic Programmes For Africa

The President of China, Xi Jinping on Monday disclosed that his country would be implementing some major programmes valued at about $60 billion in Africa as a strategic option of strengthening China-Africa socioeconomic relations over the next few years. Xi made the disclosure in his keynote speech delivered at the opening ceremony of the 2018 […]