Economy

Economy 09/25/22, 05:45

According to Da Ji Yuan, China’s real estate market continues to be sluggish. For example, during the Mid-Autumn Festival holiday, the transaction of new houses decreased by 30% compared to the same period last year. In August 2022, the number of cities with falling house prices continues to increase. Among 70 ...

Economy 09/25/22, 03:52

The Central News Agency reported on September 15 that a survey in China shows that graduates find it difficult to find a job, even with a low salary. The human resources service provider "MileagePlus" surveyed fresh and current college students to understand their job hunting intentions, careers, and directions, considering how ...

Economy 09/25/22, 03:45

In the first eight months of this year, 3,470 semiconductor chip companies in China went bankrupt.  Meanwhile, China's integrated circuit (IC) output in August fell 24.7% year-on-year, the most significant monthly decline on record. China's microcomputer output also fell 18.6%, the most significant drop since December 2015. Previously, in July, China's chip ...

Economy 09/25/22, 03:15

Chinese mainland media outlets reported on September 14 that Adidas CEO Rorsted recently said, “We don’t understand consumers well enough, so we left room for Chinese competitors who are better off.”   As reported by Reuters, China has forced hundreds of thousands of ethnic Uyghurs and other minorities to pick cotton by ...

Economy 09/25/22, 03:10

Under several waves of the omicron pandemic this year, Chinese authorities maintain a strict "clearing" policy. Shanghai, Chengdu, and other cities with populations of 10 million were locked down. This made people miserable, and the retail, service, and tourism industries suffered heavy losses. Shanghai is where the economic downturn is ...

Social problem 09/23/22, 18:34

Recently, officials in Chengdu, Sichuan province, China, ordered locked-down food service shops to install electronic surveillance robots upon reopening. Because of the Chengdu lockdown, the food service industry is in a state of ruin. The installation of electronic robots was another wave of exploitation by the communist regime. The social media ...

Economy 09/22/22, 21:53

China’s property market continues to suffer in August and the crisis finds no way to end, official data showed on Friday, September 16.  Housing prices, property sales and investment all dropped in August, worsening the real estate crisis. Home prices marked a 12 month decline in a row, showing the real estate ...

Economy 09/22/22, 21:52

According to a report by U.S.-based think tank Rhodium Group on September 14, European investment in China has grown increasingly concentrated over the past few years with only several large corporations and most of them coming from Germany. The authors of the report wrote, “European investment has grown much more concentrated, ...

Economy 09/22/22, 21:46

According to the South China Morning Post (SCMP), a record number of China's chip firms have been put out of business this year.  The news outlet cited data from the business database platform Qichacha, saying 3,470 chip firms in China have been deregistered for the first eight months of this year. The ...

Economy 09/22/22, 21:36

Recently, three new energy vehicle companies, Weilai , Xiaopeng , and Ideal , released their semi-annual reports. The losses of the three companies amount to $1.4 billion. The financial reports show revenue in the year’s first half has grown significantly. NIO’s (Weulai’s) revenue is $2.9 billion (20.23 billion yuan), an annual ...

Economy 09/22/22, 21:35

In April, four village banks in Henan province froze depositors' bank accounts for no reason, leading to a large-scale protest. The banking crisis involves more than 400,000 people, which reportedly totals 40 billion yuan or $5.83 billion. Under heavy pressure, officials yielded, promising to pay back customers in stages. By the ...

Economy 09/22/22, 21:17

China's economy has been deteriorating sharply this year, with some major banks predicting a growth rate above 3%. The growth forecast could be revised down further if the upcoming economic data is disappointing. In March, the Chinese government set an ambitious target for the 2022 economic growth rate at around 5.5%. ...

Economy 09/22/22, 21:05

According to the South China Morning Post, the container shipping rates from China to the U.S. have declined sharply due to weakening demand despite major ports having been disrupted by seasonal typhoons. Last year, at the peak demand, container shipping fees increased over five times within a year. But this year, ...

Economy 09/22/22, 20:51

China’s gaming regulator has finally given a green light on game titles from NetEase and a Tencent subsidiary after 14 months of cold-shouldering. On September 13, China’s National Press and Public Administration released a new list of publishing licenses for 72 online games.  Among them is the sports game All-star Street Ball ...

Economy 09/22/22, 19:51

Fosun, one of China's largest private-sector companies, is facing regulatory scrutiny as it shows a sign of financial distress, with about $8 billion in debt repayment through 2023. Bloomberg reported that Chinese regulators have asked large domestic banks and state-owned enterprises to closely examine their exposure to Fosun. A source said Fosun ...

Economy 09/22/22, 19:28

China is on the brink of missing this year's economic growth target by a big margin. Time is running out, but the country has introduced a relatively small stimulus. So what is restraining the Chinese authorities from implementing a large scale of fiscal or monetary stimulus? According to an economist, stimulus measures ...