China - Economic Data & News 18 (Jun 20 - Dec 21)

Re: China - Economic Data & News 17 (Jan 19 - Dec 20)

Postby behappyalways » Tue Sep 22, 2020 2:53 pm

One-armed fighter

What is fuelling China’s economic recovery?
Industry had a head start, but consumption is starting to pick up

“THE EIGHT HUNDRED” is an unusual Chinese film for its depiction of Nationalist soldiers as heroes in a grinding battle against Japanese invaders in 1937.

The Nationalists, or Kuomintang, fought a long on-off civil war against the Communist Party and so are typically portrayed as villains and stooges on Chinese screens.

From a global perspective, the film is unusual for a different reason. It is that rarest of things in these covid-clouded times: a box-office hit.

Released a month ago, it has pulled in nearly 3bn yuan ($440m), propelling Chinese cinemas to their best showing by far since January, when the country went into near-total lockdown.

Many of China’s factories reopened as early as February, but it is only now, nearly eight months on, that the broader economy is approaching its normal trajectory.

Based on a batch of activity data published on September 15th, China is on track to expand by roughly 5% in the third quarter compared with a year earlier, a smidgen below the 6% growth rate that it reported in the second half of 2019, before covid-19 erupted. That puts it well ahead of all other big economies in the scale of its recovery.

But the shape of China’s recovery is unbalanced. The supply side of the economy had a head start over the demand side, and has maintained a big lead.

Industrial output rose by 5.6% year-on-year in August, while retail sales rose by just 0.5%. A range of alternative measures underline this gap.

Power generation rose strongly in August thanks in part to resilient factory activity. The number of underground journeys, by contrast, levelled off at about a tenth below normal, indicating that some people are still wary of venturing into crowded places (see chart).

Some analysts worry that these imbalances are spilling into the global economy as excess production ends up abroad. China’s share of world merchandise exports hit a record high of more than 13% in the second quarter, according to data from CPB World Trade Monitor.

A key question is thus whether the uneven growth is simply the ephemera of the covid-19 economy or whether it points to a more fundamental problem. The answer is probably a bit of both. Weak consumer spending has long been a feature of China’s economy. Household consumption was just 39% of GDP last year, well below the global average of 63%.

The pandemic has shone a harsh light on one explanation: a threadbare social safety-net. During the depths of China’s lockdown, just 3% of the roughly 80m people without jobs collected unemployment insurance. As low-income earners have a higher propensity to spend, the lack of support weighs on consumption more generally.

Some of the extreme unevenness of the recovery will not last, however. The government prioritised reopening factories over restarting the rest of the economy because of its calculations about how to control the pandemic. That was the right call.

It is easier to maintain strict health protocols in factories, which can be managed as semi-closed environments, than in shopping malls, where people come and go.

Encouragingly, a closer look at the data for August suggests that China’s consumers may be starting to close the gap with its producers. In month-on-month terms, retail sales grew a little more quickly than industrial output—the first such outperformance in half a year. The demand rebound would be even stronger except for the social-distancing rules still in place.

Cinemas, for example, can sell tickets for only half their seats. “The Eight Hundred” is climbing the box-office charts with one arm tied behind its back.

Source: The Economist
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Videoclips (General) 07 (Oct 18 - Dec 20)

Postby behappyalways » Tue Sep 22, 2020 4:18 pm

Chilli pepper farmers in China’s western Xinjiang region brace for bumper harvest
https://www.youtube.com/watch?v=wUQ32RABPH8


Breeding small crayfish in rice fields proves to be big economic boost for Chinese farmers
https://www.youtube.com/watch?v=yCvkTKNSqBo
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Fri Sep 25, 2020 12:29 pm

Coronavirus stealing Christmas cheer from Yiwu, China’s hub for seasonal product production
https://www.youtube.com/watch?v=fQULd0KUQGc
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Sat Sep 26, 2020 11:31 am

Cryptocurrency helps ship 1 trillion yuan out of China to casinos, gambling every year
https://www.scmp.com/economy/china-econ ... every-year
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Fri Oct 02, 2020 4:06 pm

疫情致餐廳現倒閉潮 回收設備生意翻一倍 - 20200929 - 有線中國組
https://www.youtube.com/watch?v=9TJL1cOKgoQ
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Mon Oct 05, 2020 1:06 pm

2020.10.03【文茜世界周報】內蒙新雙語政策引發反彈 外界憂步新疆後塵
https://www.youtube.com/watch?v=n29GFXJMTas
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Thu Oct 08, 2020 2:44 pm

Tourists swarm Chinese mountain during ‘golden week’
https://www.youtube.com/watch?v=xFJUkCko-F8


How China’s longest desert road in Xinjiang was opened up to traffic
https://www.youtube.com/watch?v=KuylRKAK1Tc
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Sat Oct 10, 2020 1:45 pm

長假旅遊亂象 - 20201007 - 有線中國組 - 有線新聞 CABLE News
https://www.youtube.com/watch?v=PN_K_FiyAcM
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby winston » Wed Oct 14, 2020 6:52 am

Various Economic Data

by Stella Zhai

Sales of handsets on the mainland fell 35 percent year on year in September ahead of the launch of more 5G new phones.

Shipments of handsets totaled 23.33 million units last month, with 5G phones taking up 60 percent, data from China Academy of Information and Communications Technology showed.

Meanwhile, even auto parts makers and seafood companies turned to make chips in China. Over 13,000 mainland firms registered as semiconductor companies in the first nine months of this year, Financial Times reported citing data from Qichacha, a mainland companies information provider - double last year's monthly average.

In other news, China's trade relationship with the west soured as the European Union plans to impose a 48 percent tariff on Chinese aluminum and China stopped buying coal from Australia, despite exports continuing to rebound.

China's exports in September rose 9.9 percent from a year earlier, customs data showed on Tuesday, and imports surged 13.2 percent in September.

China's trade surplus with the United States also dropped 10 percent from a month ago to US$30.75 billion in September.

Tai Hui, managing director and chief market strategist of Asia at JP Morgan, speculated that the People's Bank of China cutting the foreign exchange reserve requirement ratio to zero earlier was a move to stop the currency from moving just in one direction.

Source: The Standard

https://www.thestandard.com.hk/section- ... -September
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby winston » Wed Oct 14, 2020 7:00 am

China growth to rebound by 8.2pc in 2021, IMF predicts

China, which reopened early and rebounded from the coronavirus pandemic in the mainland, is predicted to be the only economy to show positive growth in 2020, of 1.9 percent, the International Monetary Fund forecast Tuesday.

The 2020 growth would be a sharp slowdown from the 6.1 percent gain in 2019.

The forecast rate for 2021 would be nearly double the rate predicted in June - and reach 8.2 percent growth.

This would be the highest rate in nearly a decade, the IMF said.

The Standard

https://www.thestandard.com.hk/breaking ... F-predicts
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