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

[behappyalways]

"Henan government pays me back"! Hundreds of depositors went to Henan to recover their deposits. Chinese women climbed overpasses and cried, "Your Henan Bank won't give me the money" and jumped off the building! Take it to the police station!
"河南政府還我錢"! 上百儲戶到河南追討存款 中國婦人爬天橋哭喊"就你們河南銀行錢不給我"並作勢跳樓! 廣東爛尾樓風暴越演越烈 業主遭警扛起強制帶入警局!｜【焦點大現場】20230703｜三立新聞台
https://m.youtube.com/watch?v=lgCRCMkX1Ho


The speed of the fall is beyond imagination! Carrefour in China closed its stores in an avalanche, closed 12 stores in Beijing in 2 months, and 3 stores remained in Beijing. The Chinese economy is facing 5 major difficulties.
倒的速度超乎想像! 中國家樂福雪崩式關店 2個月收12家北京剩3家 中國經濟面臨5大困境 美媒: 習近平毫無對策│記者 姚懷真│【國際大現場】20230703│三立新聞台
https://m.youtube.com/watch?v=Aq-I4YadvnA

[behappyalways]

The supply chain is gradually withdrawing from China, a trend prompted by "friendly shore outsourcing"

供應鏈逐步撤離中國 "友岸外包"催促下的趨勢 TVBS文茜的世界財經周報 20230702 X SHARP

https://m.youtube.com/watch?v=s1EQW6kYvRY

[behappyalways]

Life as a Chinese Gen-Zer just got a lot harder thanks to the Chinese government hiking college tuition by up to 54%
https://www.insider.com/china-gen-z-tou ... kes-2023-6

[winston]

China must grow its middle class as familes get squeezed by job cuts and falling home prices

China’s economic rise has created a sizeable middle class, but it is now bearing the brunt of changes in the economy

The typical middle-class lifestyle has quickly become unachievable, as a wave of jobs cuts and falling home values hit urban families

by Zhou Xin

Source: SCMP

https://www.scmp.com/comment/opinion/ar ... e=homepage

[behappyalways]

20% of mainland graduates choose "slow employment" instead of looking for a job immediately

大陸兩成畢業生選擇「慢就業」不立即找工作｜譚伊倫｜FOCUS全球新聞 20230707@tvbsfocus

https://m.youtube.com/watch?v=09hZSoTZouU

[winston]

Xi pushes next step up in open economy

President Xi Jinping yesterday emphasized efforts to put in place new systems for a higher-standard open economy, as well as efforts to promote the gradual transition from dual control over the amount and intensity of energy consumption, to dual control over the amount and intensity of carbon emissions, Xinhua reported.

A total of 22 reform measures will be adopted nationwide, covering investment and trade facilitation, governance innovation, financial opening-up innovation, high-quality development of industries, and intellectual property protection, according to a circular.

The council also ordered two practices to be replicated in particular areas, which include the promotion of intellectual property liability insurance for overseas infringement for pilot FTZs.

FTZs are launched to explore new ways and accumulate experience for comprehensively deepening reform and expanding opening-up.

Source: The Standard

https://www.thestandard.com.hk/section- ... en-economy

[behappyalways]

One Beijing, two worlds! The daily salary of low-level workers is only 800
一個北京兩個世界! 副都心千億拚科技 底層工日薪才800｜TVBS新聞
https://m.youtube.com/watch?v=F3_5lXVr3sU


The domestic demand in the mainland is weak. Consumption is carefully budgeted, and domestic tourism is more during the summer vacation
大陸內需疲軟.消費精打細算 暑假境內旅遊多｜方念華｜FOCUS全球新聞 20230711@tvbsfocus
https://m.youtube.com/watch?v=7jxWHgpPhA4

[behappyalways]

Young people in Beijing frantically set up stalls. Peking University scholars estimate that 54 million young people are unemployed
北京年輕人瘋擺攤 北大學者估:陸5400萬青年失業｜TVBS新聞 @tvbsnews02
https://m.youtube.com/watch?v=lhigYujlxqI


Record unemployment driving many young Chinese to hawking to earn extra cash
https://m.youtube.com/watch?v=SjaAKEvdQ4U

[winston]

US$400bil pension fund warns about debt risks

One of China’s biggest state-run investors is adding to the chorus of warnings over debt risks at the nation’s cash-strapped developers and local government financing vehicles.

The National Council for Social Security Fund, which oversees about US$417bil (RM1.9 trillion), has advised asset managers that handle its money, to sell some bonds including those from riskier local government financing vehicles (LGFVs) and private developers after a review.

Source: Bloomberg

https://www.thestar.com.my/business/bus ... debt-risks

[behappyalways]

Go to the U.S. Congress to testify! Shen Dong, the author of the red gambling table, revealed that he learned in China that "the rules of the game are determined by the Communist Party." His wife was disappeared by the Chinese government for four years.
赴美國國會作證! 紅色賭盤作者沈棟曝在中國讓他學到"遊戲規則是由共產黨說的算" 妻子被中國政府消失四年 沈棟直言在中國"習近平是至高無上者"｜【焦點大現場】20230714｜三立新聞台
https://m.youtube.com/watch?v=u4MeGNUs0C8


Li Qiang praised the potential of the platform economy, and Chen Fengxin analyzed that "this is a critical moment for mainland China"
李強大讚平台經濟大有可為 陳鳳馨分析「這是中國大陸的關鍵時刻」【Yahoo TV】#風向龍鳳配
https://m.youtube.com/watch?v=etCIpJGmpHA