Asia

Bank of Japan to reduce government bond buying

The central bank decided to outline its plan to reduce buying for the next 1-2 years in its July meeting

South Korea’s hydrogen-powered FCEV exports plunge 74.2 percent in first five months of 2024

Last month, the country's exports of hydrogen-powered FCEVs dropped to zero

China pledges $20 million to UNCTAD to boost sustainable development efforts

The contribution is aimed at supporting the implementation of the UN's 2030 Agenda for Sustainable Development

Japan’s economy contracts by 1.8 percent in Q1 2024, slightly better than expected

Nominal GDP increased at an annualized rate of 0.1 percent, slower than the previously reported 0.4 percent

China’s natural gas YoY consumption surges 11.9 percent to 143.73 billion cubic meters in January-April period

In April alone, consumption rose by 11.8 percent compared with the same period last year to total 35.46 billion cubic meters

Azerbaijan confirmed as host of COP29

The COP29 Presidency has made significant progress and will be ready to deliver a world-class event, said COP29 President-Designate

China’s exports grow 7.6 percent in May, supporting trade surplus growth to $82.62 billion

China’s crude oil imports saw little change from January to May 2024

Japan’s real wages fall for 25 consecutive months by 0.7 percent in April

Spring wage negotiations prompt major companies to award highest salary hikes in 30 years

South Korea to post trade surplus of $43.4 billion in 2024: Report

The country's growth rate for 2024 has been revised up to 2.7 percent by research firm

China reclaims top spot with $196.5 billion in international tourism spending in 2023: Report

This reflects the continued recovery of the Asia and Pacific (APAC) region from the impacts of the COVID-19 pandemic

Japan’s service sector remains strong as price inflation eases from 10-year high: PMI

Firms saw an increase in new international business, especially in tourism, which supported employment in May

China’s service economy expands for 17th month on greater new business inflows: PMI

China's rate of employment growth expanded at the fastest pace since September 2023 in May

China’s Chang’e-6 probe takes off from the moon with first samples from lunar far side

Probe made technological breakthroughs, including the lunar retrograde orbit design and control technology

$1.3 trillion to lift China’s tourism sector as domestic travelers flock back

In 2019, Chinese tourists spent $248 billion abroad, accounting for 14 percent of global tourism spending

China’s Xinjiang begins operating world’s largest solar plant

The solar plant will generate about 6.09 billion kilowatt hours of electricity each year

China’s new home prices rise 0.25 percent in May, maintain 9-month positive trend

The central bank's $138 billion support in May helped prop up the real estate sector

China leads affordable EV charge as global transition faces challenges: Report

This is primarily driven by the near price parity between battery-electric vehicles (BEVs) and internal combustion engine (ICE) vehicles in the country

Japan spends record $62 billion to prop up yen amid currency volatility

This amount exceeds the nearly 9.2 trillion yen Japan spent on yen-buying, dollar-selling operations in late 2022

South Korea records 8th straight month of YoY export growth, reaching $58.1 billion in May

Imports declined 2 percent year-on-year to $53.1 billion, resulting in a trade surplus of $4.96 billion

Google to invest $2 billion in data center and cloud region in Malaysia

The data center will power services such as Search, Maps, and Workspace, and will help deliver AI services

Japan to launch digital national ID card ‘My Number’ on iPhones

Japan aims to include driving licenses into the system by March 2025

Asia-Pacific labor markets recover, 87.8 million people out of work: Report

Unemployment in the region's labor market to remain stable at 4.2 percent in 2024 and 2025

IMF revises China’s 2024 growth projection to 5 percent amid robust Q1, policy interventions

China's economy saw robust 5.3 percent growth in Q1 driven by strong exports