Browsing: China economy

China is expected to have a tough year 2023 but recovery of demand and import-export expected under president Xi Jinping. Photo/CNN
  • China reopening after lifting restrictions under the zero-Covid-policy
  • 2023 to be a tough recovery year for Beijing
  • President Xi Jinping to lead China recovery

As China is about to finish the Year of the Tiger in January in what was meant to be a year of recovery, what is in store for Sino-Africa relations?

President Xi Jinping has had his hands full this past few years the least of reasons not been the Covid-19 that has severely slumped China’s otherwise skyrocketing economic trajectory.

To keep its people safe and to some extent, to show the world that it is taking all measures to prevent the mistakes of 2019 that led to the spread of the Covid-19 pandemic. Whether it is a US-Euro politically triggered compliance, or its own strong arm, China has gone over and above the general world’s response post the pandemic.

Beijing, initiated its zero-Covid-policy, characterized by widespread …

money 2951142 1920 1

South African rand has taken a steady stance on Monday, after China intervened to soothe the virus tension and combat the outbreak economic backlash, via its rate cut approach, according to information from Reuters.

Reuters reported that, China’s central bank cut the interest rate on its medium-term lending on Monday as policymakers sought to cushion the drag on business from the outbreak that has immensely disrupted activity.

As of 0245 EAT, the rand was standing at 0.55 per cent firmer at 14.8966, adding to gains from Friday’s session spurred by largely positive reception of President Cyril Ramaphosa’s State of the Nation speech promising faster economic reformer.

Earlier this month, Reuters reported the rand slipped to 14.6570 per dollar on Monday 28 January, its weakest since Dec. 12, with the selloff largely driven by investors dumping emerging-market assets.

Further, the rand and other emerging market currencies had weakened amid investor fears …