China - Economic Data & News 20 (Nov 22 - Aug 23)

[winston]

China's economy lost more steam in November

Retail sales fell 5.9 percent amid broad-based weakness in the services sector, the biggest contraction since May versus estimates of a 3.7 percent drop, the National Bureau of Statistics data showed yesterday.

Industrial output rose 2.2 percent in November from a year earlier, missing expectations for a 3.6 percent gain and slowing significantly from the 5 percent growth seen in October.

Hiring remained low among companies wary about their finances.

The nationwide jobless rate rose to 5.7 percent in November from 5.5 percent in October.

Source: AP

[behappyalways]

‘All my colleagues are infected’: Beijing residents say Covid cases surging as pandemic rules ease
https://m.youtube.com/watch?v=G3pLji0ZHSE&t=138s


Patients in China hooked up to IV drips in their own cars as clinics are full
https://m.youtube.com/watch?v=uyxu6bjw_iA

[winston]

G Sachs Foresees CN Econ to Expand 2.6%/ 5.2% in 2022/ 2023

The growth of China's economic activities decelerated generally in November, missing the market estimates and reflecting the negative impact at the initial stage of reopening, reported Goldman Sachs.

Based on the latest data, Goldman Sachs trimmed the 4Q22E China GDP growth from a QoQ uptick of 1.2% to a decline of 4%.

China's real GDP growth, on the other hand, was anticipated to reach 2.6% this year and further accelerate to 5.2% in 2023, compared to the previous forecasts of 3% and 4.5%, respectively.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... t-news/HK6

[behappyalways]

疫情陷黑洞! 北京通報兩死 火葬場卻排長隊｜方念華｜FOCUS全球新聞 20221219@tvbsfocus
https://m.youtube.com/watch?v=nN-sTI8ya0o

[behappyalways]

退燒藥一盒難求! 中國搶藥亂象延燒至海外 中國女子至日本狂掃42盒感冒藥 珠海也推"限量實名制"｜記者 李令涵｜【國際大現場】20221220｜三立新聞台
https://m.youtube.com/watch?v=SPGQ3nUhtog

[winston]

China deficit hits record 7.7 trillion yuan

More than double the same period last year and larger than in 2020, when the economy was battered by the initial Covid outbreak and growth was the slowest in decades.

Beijing and the local governments recorded 24.57 trillion yuan in total income and 32.32 trillion yuan in total expenses for the first eleven months of this year.

Land sales revenue has slumped by double digits almost every month this year.

World Bank forecast China's gross domestic product will grow 2.7 percent only this year.

Source: Bloomberg

https://www.thestandard.com.hk/section- ... llion-yuan

[winston]

CN SME Confidence Still Fading: Stanchart Survey

Although China has been relaxing her COVID policy incessantly since the launch of the ten new measures, Stanchart survey found that China's SME economic activities kept falling in December, as the COVID spike post relaxation further impaired the business outlook.

Even though the indicator measuring the operating conditions of SMEs improved slightly in December over November, the reading in December was still in contraction territory for the third consecutive month, Stanchart report mentioned, which attributed this to weaker sales and labor outlook.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... t-news/HK6

[behappyalways]

Demand for Covid tests, medications in mainland China empties shelves in Hong Kong, Thailand
https://m.youtube.com/watch?v=ulsQKecW9EU


Hospital in China overwhelmed with patients after Covid controls eased
https://m.youtube.com/watch?v=2bqnXCPBh3o


Beijing workers begin return to offices despite Covid surge as businesses struggle to reopen
https://m.youtube.com/watch?v=H0yXhF_Jq38

[winston]

China asks people to sign up as delivery riders after zero-Covid pivot unleashed a wave of infections

Local authorities in Beijing, Shanghai and other municipalities, have called on healthy citizens to help deliver food takeouts, as more riders call in sick

While a severe labour shortage has hit the on-demand service sector, orders have also surged as people stay home and shop online to avoid infections

by Ben Jiang

Source: SCMP

https://www.scmp.com/tech/big-tech/arti ... infections

[behappyalways]

Facing Demographic Doom, China's Army Of Retirees Returns To Work In Post "Zero-Covid" Economic Wasteland
https://www.zerohedge.com/markets/facin ... d-economic