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

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

Postby winston » Thu Dec 10, 2020 7:06 am

China's recovery to be patchy: Moody's

by Victor Zhong

Moody's said that the economic recovery from the coronavirus pandemic will be gradual and uneven across Chinese provinces, with continued downside risk underpinning its negative outlook for regional and local governments in 2021.

While fiscal policy will remain supportive of growth, it will be funded by higher debt, which in turn will increase contingent liability risk for regional and local governments, Moody's said in a new report.

Local governments' finances are still facing challenges due to a shrinking tax base and a higher dependence on land transfer income.

The credit rating agency predicted that China's economic growth will slow sharply to 2.2 percent this year and reach 7 percent next year.

The company predicted that the budget debt burden of local governments this year will account for 97 percent of fiscal income, compared to 83 percent last year.

Source: The Standard

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

Postby behappyalways » Thu Dec 10, 2020 1:33 pm

Chinese state-owned companies are in trouble. That could hurt the global recovery
https://edition.cnn.com/2020/12/09/econ ... index.html
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby winston » Tue Dec 15, 2020 7:53 am

China GDP seen growing 7.8pc in 2021

by Victor Zhong

China's economy is expected to grow by 7.8 percent in 2021, according to the Chinese Academy of Social Sciences.

Life in China has gradually returned to normal as it has achieved both victories in epidemic prevention and economic development, making it the only major economy in the world to have achieved positive growth.

China's yuan funds outstanding for foreign exchange rose 5.93 billion yuan to 21.17 trillion yuan last month, the first growth for nine months, People's Bank of China data showed.

The news came as the yuan edged higher against the greenback yesterday, with the market shrugging off the central bank's latest effort to stem the rise of the currency by reducing capital inflows.

The onshore yuan opened at 6.5340 per US dollar and was changing hands at 6.5391 at midday, before closing slightly lower. Traders said the currency market did not immediately react to a decision by the PBOC to lower a parameter on cross-border financing, although it was widely seen as an attempt to slow the pace of the yuan rally.

The PBOC move could reduce China's overall size of foreign debt as the reduction would scale back the room Chinese companies have to borrow overseas.

The action was "intended to cool down the yuan's appreciation," CIB research said in a note.

"But it will be hard to shake the appreciation trend before any significant changes to the fundamentals," CIB added.

In other news, mainland media reported that a wave of chip shortages has broken out - affecting everything from smartphones to personal computers, and airplanes to the automotive industry - and that the shortage of semiconductor foundry production capacity may extend to at least the first half of 2021.

Source: Reuters

https://www.thestandard.com.hk/section- ... pc-in-2021
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Sun Dec 20, 2020 6:45 pm

義烏真成"一烏"了? 中國抵制澳洲煤炭自食惡果 歲末年終老百姓竟面臨缺電危機|記者 許少榛|【國際局勢。先知道】20201220|三立iNEWS
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Tue Dec 22, 2020 10:23 pm

中國多地發布"限電令"北京上海都遭殃僅為封殺澳洲煤碳!? 專家:為達習近平"碳中和"承諾|主播 王志郁|【大世界新聞】20201222|三立iNEWS
https://m.youtube.com/watch?v=e0X28CvvjkA
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby winston » Thu Dec 24, 2020 8:02 am

China suffers worst power blackouts in a decade, as post-coronavirus export boom, coal shortage hit supply

Provinces across China are struggling with blackouts, as authorities use restrictions to curb energy use and manage supply

Analysts blame the resurgence of manufacturing, a coal shortage and China’s central economic planning for the problem

With exports booming and the appetite for electricity surging in the industrial sector, this year’s winter power consumption has exceeded that of the summer months for the first time in about 10 years. And power generation cannot keep up with demand.


Source: SCMP

https://www.scmp.com/economy/china-econ ... oronavirus
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Fri Dec 25, 2020 5:34 pm

China’s Yangtze fishing communities struggle amid 10-year fishing ban
https://www.youtube.com/watch?v=hnz-jeuGVIo


Small businesses still struggling eight months after Wuhan’s Covid-19 lockdown was lifted
https://www.youtube.com/watch?v=cgt3CBLS2MM
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Sat Dec 26, 2020 10:07 pm

Mongolians study traditional writing after China pushes language reforms in Inner Mongolia
https://m.youtube.com/watch?v=1xE-HnrvFvg
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Mon Dec 28, 2020 9:05 am

【大陸新聞再平衡】20201225美國全面封鎖中芯 台積電叛將神救援
https://m.youtube.com/watch?v=6fkaI4NqLGg
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Re: China - Economic Data & News 18 (Jun 20 - Dec 21)

Postby behappyalways » Mon Dec 28, 2020 9:12 pm

Beijing in emergency mode after five new coronavirus cases found in Chinese capital
https://m.youtube.com/watch?v=Tb_2R9-9DlM

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知情網友稱:大連金州現狀,疫情堪比武漢。小區全封閉,單元門貼封條,出入證全作廢;所有商鋪貼封條封店,防疫人員在小區、街道緊急消毒| #大紀元新聞網
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