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Fitch cut to negative comes as country moves away from reliance on growth from property sectorBusiness live – latest updatesFitch has downgraded the outlook on China’s debt as it warned of increased risks to the economy while the country moves away from its reliance on growth from the property sector.On Wednesday the US-based agency said it had revised China’s sovereign credit rating from stable...

Revenue at Chinese telecom rose 10% as net profit more than doublesChinese telecoms firm Huawei grew faster in 2023 than it has for four years, as it shrugged off the impact of US sanctions.Revenues rose by nearly 10% to 704.2bn yuan (£77bn) as the Shenzhen-based company enjoyed a rebound within its consumer segment, which includes smartphone handsets. Continue reading...

Plunge in consumer prices has fuelled calls for a stimulus package – yet Beijing may stick to the new normal of lower growth• China consumer prices plunge at fastest rate for 15 yearsChina’s economy has gone from bad to worse – and it is only February.Figures released on Thursday showed consumer prices fell by 0.8% in January compared with a year earlier, outstripping economists’...

Record high youth unemployment and struggling property sector are among increasingly sensitive topicsChina is cracking down on negative commentary about the financial market and other sectors as the authorities seek to boost public confidence despite challenging economic headwinds.This month the Weibo account Weibo Finance, which has more than 1.5 million followers, issued an instruction against posting any comments “that bad-mouth the economy”. The post...