business

China’s logistics sector grows 52.8 percent in November as economic recovery signals strength

This represents an increase of 0.2 percentage points compared to October 2024 

China’s economy to grow 5 percent in 2024, contributing 30 percent to global expansion

Foreign exchange reserves remain steadily above $3.2 trillion 

China’s foreign trade up 4.9 percent to $5.49 trillion in 11 months

Exports surged by 6.7 percent year-on-year, totaling 23.04 trillion yuan 

Japan’s economic growth surpasses estimates: 1.2 percent GDP revision and implications for interest rate hikes

Japan's economy grew faster than expected in July-September, driven by higher capital investment and exports 

Euro area unemployment rate steady at 6.3 percent in October 2024

In October 2024, there were around 12.971 million people unemployed in the EU

China’s industrial profits top $814 billion in Jan-Oct

Over 60 percent of industrial sectors experienced enhanced profitability in October relative to the prior month  

China’s foreign trade grows 4.6 percent YoY in October, reaching $5 trillion in ten months

Exports amounted to $2.93 trillion, up 5.1 percent YoY, and imports totaled $2.14 trillion 

Federal Reserve on track for two 25-basis-point interest rate cuts this year

The Federal Reserve will begin its two-day policy meeting only a day after the U.S. presidential election on Tuesday

China’s privately offered funds hit $2.76 trillion by end-September

Equity investment funds, valued at 10.89 trillion yuan, were the largest category

U.S. business activity grows in October, price pressures ease

This suggests that the economy is entering the fourth quarter on a strong note

South Korea to provide $6.45 billion in financial support for semiconductor industry by 2025

The government will allocate 1.7 trillion won next year for chip R&D and talent development 

China reveals world’s largest floating offshore wind turbine, generating 62 million kWh annually for 37,000 homes

This turbine has a 260-meter diameter wind wheel and a sweeping area of 53,100 square meters

South Korea reports $1.7 billion increase in revenue, yet faces $62.43 billion fiscal deficit in first 8 months of 2024

The finance ministry noted that this year's deficit is the third-largest ever for the specified timeframe

European Council to mobilize $100 billion annually in climate finance through 2025

The council reaffirmed its commitment to climate finance and aims for new targets beyond 2025.

South Korea inks $2 billion agreement with Philippines to boost infrastructure projects in developing nations 

The deal stipulates that Korea will allocate $905 million from the fund for the construction of the initial segment of the Laguna Lake Road Network 

South Korea’s foreign reserves up for third month to $419.97 billion in September 2024

The BOK attributed the rise to higher non-dollar asset values, driven by a weaker U.S. dollar and investment gains 

China’s external financial assets surpass $9.79 trillion by end of June

Financial liabilities exceeded $6.8 trillion at the same date, resulting in net external assets of nearly $2.99 trillion 

China’s international trade reaches $585.2 billion in August, 4 percent YoY growth

The nation's exports of goods and services totaled $322.4 billion, while imports were recorded at $263.5 billion

Swiss National Bank lowers interest rate to 1.0 percent as inflation falls

Inflation fell to 1.1 percent in August from 1.4 percent in May, partly due to a stronger Swiss franc 

U.S. home prices rise slightly in July 2024 amid slowing momentum, improving supply conditions

Mortgage rates drop to 4.75 percent to 5.00 percent range as housing affordability improves