China announced on Friday that it will cut visa fees for travellers from five more countries including Thailand, Japan, Mexico, Vietnam, and the Philippines from December 11, 2023 to the end of December 2024.
This is the latest measures by Beijing to boost its economy as economists are speculating that the world’s second largest economy could fall short on growth this year from its target of 5%.
China’s November exports in yuan terms rose 1.7% YoY, but increased only 0.5% YoY in US dollar terms, according to customs agency data released Thursday. This marked its first growth in six months.
The US dollar terms beat the 1.1% drop expected in a Reuters poll. Meanwhile, imports fell 0.6%, following a 3.0% increase in October.
China’s GDP in the third quarter rose 4.9% year-on-year (YoY), beating the forecast of 4.6% by economists as the services sector recorded the strongest YoY growth rate
