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

[winston]

Bond Defaults

Bond defaults by Chinese corporates amounted to 62.59 billion yuan (HK$75.04 billion) in the first half of the 2021, the highest ever, according to Fitch Ratings.

A total of 25 firms defaulted on bond payments in the first six months of 2021, compared with just 19 in the same period last year.

What is most worrying is state-owned enterprises contributed to more than half of the defaults, totaling 36.65 billion yuan.

This may reflect the withdrawal of central guarantees for SOE debt.

Source: The Standard

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

[winston]

Chinese state-owned company debt situation worsens

The repayment ability of privately-owned companies has largely improved, but is still dragged down by the real estate sector. Although property sales and volume have rebounded from a low base, mortgage loans have been contained, affecting the sector’s liquidity.

From a sectoral view, Chinese companies in the energy sector are the most healthy with much better revenue generation, followed by the consumer, semiconductor, and materials sectors.

Source: The Standard

https://www.thestandard.com.hk/breaking ... on-worsens

[behappyalways]

Counting the financial cost of deadly flooding in China’s central city of Zhengzhou
https://www.youtube.com/watch?v=pEgku7cmMBY


China's factory activity in July grows at slowest pace since Feb 2020
https://www.reuters.com/world/china/chi ... 021-07-31/

[behappyalways]

21.08.03【豐富│東南西北龍鳳配】Pt.1 看中國式的改革很過癮！但是，心臟必須很大顆！
https://m.youtube.com/watch?v=AAI3hFGSmA8

[behappyalways]

Crackdown on private tutoring leaves industry, students and parents drawing a blank
https://www.youtube.com/watch?v=djsU9lM7V1E


Delta變異病毒入侵 中國式防疫備受考驗 TVBS文茜的世界周報 20210807 X 富蘭克林‧國民的基金
https://www.youtube.com/watch?v=ix3SfePr9LI

[winston]

China’s slowdown

China’s economy slowed faster than expected in July on multiple fronts, hurt by extreme weather, the spread of the Delta variant of Covid-19 virus and the country’s regulatory push.

Signs suggest it could continue.

July monthly economic data showed a faster-than-expected slowdown in industrial, consumption and investment activity, suggesting China’s economic recovery may have peaked in the first-half of the year.

The slowdown in the data may not even yet reflect the effects of the Delta outbreak and Beijing’s efforts to contain it, according to analysts. That adds to a growing market worry about what the Delta variant will do to the economic recovery, and sentiment.

Investors have been bracing for a slower Chinese economy but the monthly data suggested the pace to be faster than anticipated as infrastructure investment slowed and floods in central China dampened consumer spending and disrupted supply chains. The recent Covid-19 outbreak and lockdowns are also weighing on spending more broadly.

Source: OCBC

[winston]

China’s regulatory crackdown — what is next?

Its core policy objective has moved to “Common Prosperity”.

China is also pushing towards self-sufficiency.

Source: RHB

https://www.theedgemarkets.com/content/ ... -what-next

[behappyalways]

No explanation as China’s billionaire actress Zhao Wei blacklisted from Chinese internet
https://www.scmp.com/news/people-cultur ... e=homepage

[behappyalways]

China limits online gaming time for young people to 3 hours a week
https://m.youtube.com/watch?v=g5nSC_p7-nU&t=31s

[behappyalways]

Xi Jinping Thought to be introduced in China’s classrooms
https://m.youtube.com/watch?v=xbfI09-wSmo