Live news: China hopes to shake off sluggish growth as markets brace for GDP data
Economic data: The People’s Bank of China announces the interest rate on its one-year medium-term lending facility. “If there is a cut today, then we can be quite sure that [Tuesday’s] GDP report will be worse than expected,” says Robert Carnell, head of Asia-Pacific research at ING. India and Singapore release balance of trade figures for March.
India: Several three-day meetings begin under India’s G20 presidency: the health working group gathers in Goa, the digital economy working group meets in Hyderabad and chief agricultural scientists convene in Varanasi. The two-day G20 Space Economy Leaders Meeting begins in Shillong. Prime Minister Narendra Modi travels to Somnath to inaugurate the Saurashtra Tamil Sangamam, a two-week cultural event celebrating the Tamil community in his home state of Gujarat.
Australia: Mark McGowan, premier of Western Australia, begins a five-day trip to China focusing on trade, his first in four years and another sign of easing tensions between Beijing and Canberra. The state accounted for 53 per cent of Australia’s total trade in goods with China in 2021‑22, according to official data.
Industry: Chinaplas 2023, the world’s largest plastics and rubber industry trade fair, opens at the Shenzhen World Exhibition & Convention Center. Organisers say about 160,000 visitors are expected to view products and services by the nearly 4,000 exhibitors. The Canton Fair, which opened last Saturday, continues until May 5.
Technology: Beijing-based mobile games developer Kunlun hosts a public test of its ChatGPT-like product, while Shenzhen-headquartered telecoms company Huawei launches its Nova 11 range of mobile phones.