New bank loans in China surged more than expected to a record high in January as the central bank moved to shore up a patchy economic recovery, reinforcing expectations for more stimulus in coming months as U.S. tariffs threaten to pile more pressure on the economy. Chinese banks extended 5.13 trillion yuan ($706.40 billion) in new yuan loans in January, more than quadrupling the December figure, data from the People's Bank of China showed on Friday, beating analysts' forecasts Analysts polled by Reuters had predicted new yuan loans would rise to 4.5 trillion yuan last month, up sharply...
Chinese President Xi Jinping convened a high-profile meeting with leading entrepreneurs in Beijing on Monday, signalling a renewed emphasis on supporting the private sector following years of regulatory pressure. The meeting, attended by prominent figures such as Alibaba co-founder Jack Ma, Huawei founder Ren Zhengfei, BYD chairman Wang Chuanfu, and Xiaomi founder Lei Jun, highlighted the government's pivot towards fostering private enterprise. Other attendees included Yu Renrong, chairman of Will Semiconductor Co., and Wang Xingxing, founder of Unitree Robotics. According to state media...
Federal Reserve Governor Christopher Waller said on Tuesday that he expects trade tariffs under President Donald Trump as having only a limited impact on inflation, and that the central bank should not stall in adjusting policy. Speaking at an event in Australia, Waller said his "baseline" view was that "any imposition of tariffs will only modestly increase prices and in a non-persistent manner." He recommended that the Fed look through the effects of Trump's trade policies when adjusting interest rates. "I concede that the effects of tariffs could be larger than I anticipate, depending...