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

[behappyalways]

Workers unhappy about China’s plan to change decades-old retirement age rules
https://m.youtube.com/watch?v=BBu5vur27q8

[behappyalways]

Finding fakes among the real Hermes, Prada and other luxury items in China’s second-hand market
https://m.youtube.com/watch?v=aCgpSGw3Yfk

[behappyalways]

China's factory-gate prices surge, but CPI growth still modest
https://www.reuters.com/world/china/chi ... 021-05-11/

[winston]

China bond defaults grow at record pace

by Victor Zhong

Onshore bond defaults in mainland China have hit nearly 100 billion yuan (HK$120.57 billion) so far in 2021, growing at the fastest pace on record.

Firms so far this year have failed to make payments on 99.8 billion yuan of onshore bonds, according to Bloomberg-compiled data.

While 2021 is set to be the fourth straight year the 100 billion yuan level has been topped, it previously hadn't happened before September.

For all of 2015, when China's stock market crashed, defaults totaled just 8.9 billion yuan.

Missed payments are running at a record pace this year, following the late 2020 defaults of some state-linked firms which affirmed convictions that authorities in China are increasingly willing to not bail out weak firms.

This came as China's new yuan-denominated loans totaled 1.47 trillion yuan in April, down 229.3 billion yuan year on year, the People's Bank of China announced.

Source: The Standard

https://www.thestandard.com.hk/section- ... ecord-pace

[winston]

China Offers Banks Nearly $16 Billion to Maintain Liquidity

(Bloomberg) -- China’s central bank injected medium-term cash into the financial system, in a push to keep borrowing costs stable as China’s economy continues its recovery from the virus pandemic.

Source: Bloomberg

https://finance.yahoo.com/news/china-in ... 00542.html

[behappyalways]

中國三大電信公司抱著美國夢 全部摘牌 TVBS文茜的世界周報 20210515 X 富蘭克林‧國民的基金
https://www.youtube.com/watch?v=MagRIRy4HAE

[winston]

China braces for US$1.3t maturity wall as defaults surge

[SHANGHAI] Even by the standards of a record-breaking global credit binge, China's corporate bond tab stands out: US$1.3 trillion of domestic debt payable in the next 12 months.

That's 30 per cent more than what US companies owe, 63 per cent more than in all of Europe and enough money to buy Tesla twice over.

While average corporate bond maturities have increased in the US, Europe and Japan in recent years, they're getting shorter in China as defaults prompt investors to reduce risk.

Domestic Chinese bonds issued in the first quarter had an average tenor of 3.02 years, down from 3.22 years for all of last year and on course for the shortest annual average since Fitch Ratings began compiling the data in 2016.

The country's onshore defaults have swelled from negligible levels in 2016 to exceed 100 billion yuan (S$20.6 billion) for four straight years.

BLOOMBERG

[winston]

China is heading into an economic perfect storm

With ballooning debt, rising commodity prices and an erosion of foreign reserves, China is facing a nasty combination of factors all at once

While the clouds are forming over Beijing, the winds will be felt on far flung shores

by Neil Newman

Source: SCMP

https://www.scmp.com/week-asia/opinion/ ... fect-storm

[behappyalways]

Xi Jinping calls for more 'loveable' image for China in bid to make friends
https://www.bbc.com/news/world-asia-china-57327177


China’s services industry under pressure from ‘enormous’ inflation pressure, weak overseas demand
https://www.scmp.com/economy/china-econ ... -inflation

[behappyalways]

China Launches Price Controls After Red Hot Inflation, Highest PPI Since Lehman Collapse
https://www.zerohedge.com/economics/tra ... tion-shock