Asia

Japan’s Q2 GDP growth revised down to 2.9 percent on slower corporate, household spending

Japan's central bank raised its key interest rate to 0.25 percent from 0-0.1 percent in July

China’s foreign exchange reserves reach $3.2882 trillion at August end, up $31.8 billion

August's increase in the country’s reserves was due to currency translation and asset price changes

Singapore raises 2035 clean electricity import target by 50 percent to 6 GW

EMA has issued conditional approvals to nine projects thus far, of which five have advanced to conditional licenses

China pledges $51 billion in funding to Africa for infrastructure, job creation

China will provide Africa with RMB360 billion of financial support in the next three years, including RMB 210 billion in credit lines

Japan’s real wages up 0.4 percent in July, second consecutive monthly rise

Japan's base wages, or regular pay, rose 2.7 percent, marking the fastest pace of increase in nearly 32 years

India, Singapore elevate bilateral ties, ink four deals across key sectors

Singapore, with an investment of around $160 billion in the Indian economy, is a leading economic partner for India

China logs 110 million inbound, outbound travelers in July and August 2024

On August 24, China logged the highest daily number of inbound and outbound travelers at nearly 2.24 million

Japan’s ongoing efforts to implement four-day workweek to attract, retain workers

The country is grappling with a labor shortage exacerbated by a declining birthrate

South Korea’s inflation rises to 2 percent in August, slowest annual rise in 3.5 years

South Korea's core inflation, which excludes volatile food and energy items, rose 2.1 percent annually

Tesla’s China sales surge 37 percent in August to over 63,000 cars

During the first half of the year, Tesla's China sales declined 5 percent

Japanese companies achieve record $244 billion in pretax profits during April-June

Capital spending surges 7.4 percent to 11.92 trillion yen in Q2

India to produce 6 million chips daily with new semiconductor unit in Gujarat

The chips produced here will serve various industries, including automotive, electric vehicles, consumer electronics

Japan’s manufacturing sector signals recovery in August as output returns to expansion: PMI

Japan's input price inflation strengthened to a 16-month high as higher raw material prices and exchange rate weakness persisted

China’s international trade in goods, services up 12 percent to $593.9 billion in July 2024

For services, the value of exports was 228.8 billion yuan, while imports reached 367.1 billion yuan

South Korea’s August exports reach $57.9 billion, up 11.4 percent YoY, driven by strong semiconductor demand

Imports rose by 6 percent year-on-year to $54 billion, resulting in a trade surplus of $3.83 billion

India’s fintech industry attracts $31 billion in investment

Startups in this field have surged by 500 percent, says Prime Minister

Japan unemployment rate rises to 2.7 percent in July

The job availability ratio inched up to 1.24 in July, rising for the first time in four months

Japan upgrades economic assessment for first time in over a year, reflecting improved consumer spending

The government noted that consumption is rising as shipping disruptions at some automakers ease 

China’s $676 billion investment leading the global energy transition

The country's wind and solar exports cut global CO2 emissions by about 810 million tons in 2023

China’s lending to Africa rises for the first time in seven years in 2023, reaches $4.61 billion

Between 2000 to 2023, Chinese lenders provided 1,306 loans amounting to $182.28 billion to 49 African governments and 7 regional borrowers

9.11 million foreign tourists visit South Korea during January and July 2024, up 66.8 percent

This figure represents 97 percent of the tourist levels recorded in July 2019, prior to the COVID-19 pandemic

China’s industrial companies achieve $575.1 billion in profits in first seven months

The country’s major firms reported 4.1 percent profit increase in July alone

OECD forecasts Malaysia’s GDP growth at 4.9 percent for 2024, 4.7 percent for 2025

This growth is driven by increased domestic demand and a recovery in electronics exports 

South Korea sets 2025 budget at $509.71 billion amid fiscal restructuring

The country allocated 29.7 trillion Won for R&D in 2025 budget