For all the talk in Western capitals of reducing reliance on Chinese factories, China has in the past two years consolidated its position as the world’s dominant supplier of manufactured goods, the Wall Street Journal reported. Though some of China’s gains in global markets may unwind as the effects of the pandemic fade, the trend nonetheless highlights just how hard it is to unplug from the world’s largest factory floor.

China cut its benchmark lending rates on Monday, adding to easing measures announced last week, as Beijing steps up efforts to spur credit demand in an economy hobbled by a property crisis and a resurgence of COVID infections, Reuters reported. The one-year loan prime rate (LPR) was lowered by 5 basis points to 3.65% at the central bank's monthly fixing, while the five-year LPR was slashed by a bigger margin of 15 basis points to 4.30%. In a Reuters poll conducted last week, 25 out of 30 respondents predicted a 10-basis-point reduction to the one-year LPR.

For decades, buying property was considered a safe investment in China. Now, instead of building a foundation of wealth for the country’s middle class, real estate has become a source of discontent and anger, the New York Times reported. In more than 100 cities across China, hundreds of thousands of Chinese homeowners are banding together and refusing to repay loans on unfinished properties, one of the most widespread acts of public defiance in a country where even minor protests are quelled.

China's central bank is set to take more easing steps, pressured by a shaky economy that is undercutting jobs, but it faces limited room to manoeuvre due to worries over rising inflation and capital flight, policy insiders and analysts said, Reuters reported. Analysts now expect cuts in the country's benchmark lending rates as early as Monday, after the People's Bank of China (PBOC) unexpectedly lowered two key rates this week as data showed the economy unexpectedly slowed in July.

China will boost economic demand in a strong, reasonable and moderate manner and accelerate infrastructure construction in the third quarter of the year, officials from the state planner said on Tuesday, Reuters reported. The comments came after bleak data for July, which showed the world's second-biggest economy unexpectedly slowed and property investment falling at the fastest clip this year.

China’s embattled developers surged in the stock and bond markets Tuesday on news that authorities are planning to help some raise fresh financing, adding to signs of official support for an industry grappling with a debt crisis and slumping home sales, Bloomberg News reported. Notes from Country Garden Holdings Co., CIFI Holdings Group Co. and Longfor Group Holdings Ltd. soared at least 11 cents on the dollar Tuesday, according to Bloomberg-compiled prices, set for the biggest gains since March.

Hong Kong's audit regulator said on Monday that it has initiated an enquiry into the financial statements of China Evergrande Group's property services unit and its former auditor after questions were raised following the developer's probe into seized deposits worth $2 billion of the unit, Reuters reported.

China's central bank cut key lending rates in a surprise move on Monday to revive demand as data showed the economy unexpectedly slowing in July, with factory and retail activity squeezed by Beijing's zero-COVID policy and a property crisis, Reuters reported. The grim set of figures indicate the world's second largest economy is struggling to shake off the June quarter's hit to growth from strict COVID restrictions, prompting some economists to downgrade their projections.

A joint venture between Chinese ride-hailing giant Didi Chuxing and electric vehicle (EV) maker Li Auto filed bankruptcy on Thursday, after the carmaker ended operations, the South China Morning Post reported. Beijing Judian Travel Technology Co. filed for bankruptcy on Thursday with Beijing No 1 Intermediate People’s Court, according to the National Enterprise Bankruptcy Information Disclosure Platform under the Supreme People’s Court. Set up in 2018 with registered capital of 400 million yuan (US$59.3 million), the company built EVs for Didi’s ride-hailing service.

Nasdaq-listed e-commerce luxury goods retailer Secoo has reportedly filed for bankruptcy with the First Intermediate People’s Court of Beijing Municipality – seven months after its last filing, according to Tianyancha, Inside Retail reported. According to LegalDaily, earlier this year Secoo filed for bankruptcy on the grounds it was unable to pay off its debts. The petition was subsequently withdrawn.