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

[behappyalways]

Protests Break Out As Chinese Cities Drown Under $10 Trillion In Debt, Fail To Make Payments
https://www.zerohedge.com/markets/prote ... llion-debt

[behappyalways]

內外需疲軟! 中國「復常」後首份外貿成績單:進出口皆衰退 ｜方念華｜FOCUS全球新聞 20230308@tvbsfocus
https://m.youtube.com/watch?v=ZwKzVvP-1bk

[behappyalways]

拯救內需 大陸多家銀行調低消費貸利率至4%以下｜秦綾謙｜FOCUS全球新聞 20230309@tvbsfocus
https://m.youtube.com/watch?v=orc2ydwyHfA

[behappyalways]

China’s new premier Li Qiang outlines priorities in first press conference
https://m.youtube.com/watch?v=sDlNJvneC4M

[winston]

China shows promise

China's embattled property sector made progress in a climb out of a months-long slump as official data for January-February yesterday showed much narrower declines in home sales, developer investment and construction starts.

Home sales by floor area in the first two months of 2023 fell 3.6 percent from 12 months earlier, according to data from the National Bureau of Statistics, compared with a 24-percent decline for the whole of last year.

The narrower sales decline followed a rise in new home prices in January - the first uptick for 12 months.

China also reported a rebound in consumer spending, industrial output and investment this year after coronavirus restrictions were dropped, though there was a warning of risks to recovery as unemployment rose.

Retail sales rose 3.5 percent in January and February compared to the same period last year. Industrial output rose 2.4 percent and fixed-asset investment grew strongly as local governments increased infrastructure spending to spur recovery. But the unemployment rate increase pointed to a weakness in domestic demand.

Source: The Standard

https://www.thestandard.com.hk/section- ... -in-a-spin

[behappyalways]

大陸車市掀降價潮 30個品牌輪番推折扣廝殺｜方念華｜FOCUS全球新聞 20230314@tvbsfocus
https://m.youtube.com/watch?v=m_r2WdQXDI4

[winston]

China cuts banks' reserve ratio for first time in 2023 to aid recovery

by Ellen Zhang, Liangping Gao & Kevin Yao

The People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points from March 27.

Analysts estimated that the move freed up over 500 billion yuan (RM325.6 billion).

Source: Reuters

https://www.theedgemarkets.com/node/659645

[winston]

After China’s ‘two sessions’, here are 8 areas in which Beijing will have its work cut out

From real estate and infrastructure to e-commerce and self-sufficiency, China’s policymakers have a range of hot-button issues on their plate this year

New government term officially kicked off this month, with institutional, legislative and policy changes that will map out China’s economic path for years to come

by Kinling Lo

Source: SCMP

https://www.scmp.com/economy/china-econ ... rk-cut-out

[behappyalways]

別再活在自己的理想世界... 空貨櫃堆滿中國海港 官員稱反映國際看好未來出口 數據顯示中國進口萎縮10.2% 司機曝載空貨櫃滿街跑避免消息被傳出│【大世界新聞】20230321│三立iNEWS
https://m.youtube.com/watch?v=ocpEBjbXDDM

[winston]

China loses 229 billionaires amid turmoil and crackdown

China lost 229 billionaires in 2022, accounting for more than half of the 445 who disappeared from the list, due to global monetary tightening, Covid disruptions, and Beijing's crackdown on major tech companies.

China also added 69 new billionaires to the list during the period and remained the biggest source of the super-rich, with its total number of billionaires standing at 969 as of January 16, 2023, ahead of the United States with 691.

Source: Reuters

https://www.thestandard.com.hk/section- ... -crackdown