China - Economic Data & News 21 (Aug 23 - Jul 24)

[behappyalways]

Mainland young people join the gold-buying craze and accumulate gold beans.

大陸年輕人加入購金熱 存金豆積少成多｜方念華｜FOCUS全球新聞 20230830@tvbsfocus

https://m.youtube.com/watch?v=6J7rxDmvxQo

[behappyalways]

China's economy isn't on the verge of collapse, and markets are overlooking these indicators, China Beige Book says
https://www.businessinsider.com/china-e ... ket-2023-8


School has started! Study rooms in Mainland China are extremely popular and K booksellers have great opportunities
開學了! 大陸自習室超搶手 K書商機夯｜方念華｜FOCUS全球新聞 20230831@tvbsfocus
https://m.youtube.com/watch?v=Kjq7dthMeiU

[behappyalways]

Why Youth Unemployment Is Surging In China
https://m.youtube.com/watch?v=iK3VEF2woRY

[winston]

China's wealthy sitting on 101 trillion yuan cash pile

There were 3.16 million high-net-worth individuals - each with more than 10 million yuan (HK$10.8 million) in investable assets - in China last year, wielding a total of 101 trillion yuan of liquid assets, according to a report by China Merchants Bank (3968).

Concentrating on wealthy provinces in the eastern part of the country, these individuals' investable assets, on average, reached over 31 million yuan as of the end of last year, the lender's report with consulting firm Bain & Company showed.

Nearly 90 percent of them maintained a moderate or low-risk appetite in light of the pandemic and the sluggish stock market last year, with almost 60 percent allocating their assets to cash and fixed-income products, the report said.

But the proportion of people willing to increase their exposure to high-yield and high-risk investments in the coming two years is on the rise, with some tending to put their money in alternative investments like gold, and to expand investment in private equities while trimming that in real estate sector, it noted.

The average age of the wealthy population is getting younger too, almost half of the rich individuals being under 40, up by 7 percentage points from that of 2021, the study showed.

In terms of industries, the survey showed the proportion of professionals increased whereas that of those in the new economy sector dropped due to the shrinking market cap of internet companies.

The places with over 100,000 rich individuals last year included Guangdong, Shanghai, Beijing, Jiangsu, Zhejiang, Shandong, Sichuan, Fujian and Hubei.

The report forecasts the number of high-net-worth individuals to grow at an average compound growth rate of 11 percent in the next two years, versus 10 percent between 2020 and 2022 and 15 percent in 2018-2020.

Liquid assets held by all individuals across the country may grow at a CAGR of up to 9 percent in the coming two years and the total sum may reach 300 trillion yuan by 2024.

At 101 trillion yuan, high-net-worth people owned more than 36 percent of the nation's investable assets at the individual level in 2022.

Source: The Standard

https://www.thestandard.com.hk/section- ... -cash-pile

[behappyalways]

Moderately cut mortgage interest rates;
Seven cities "recognize houses but not mortgages";
The economy may have bottomed out

中下調房貸利率 七城市"認房不認貸" 經濟或已觸底 TVBS文茜的世界周報-亞洲版 20230902

https://m.youtube.com/watch?v=U5EN4SlZWqw

[behappyalways]

Why Many of China’s College Grads Are Becoming ‘Full-Time Children’ | WSJ
https://m.youtube.com/watch?v=hQvNRC4h01k


Construction growth in China, once one of the largest drivers of GDP growth, has plummeted
https://twitter.com/Mayhem4Markets/stat ... 5112341897

[behappyalways]

Analysis: Xi reprimanded by elders at Beidaihe over direction of nation
https://asia.nikkei.com/Editor-s-Picks/ ... -of-nation

[behappyalways]

西方學者:習近平走毛澤東老路.全球經濟趨緩 將中國帶入深淵 TVBS文茜的世界財經周報 20230903
https://m.youtube.com/watch?v=5PO5cZfa1Ws&t=2s


經濟下滑民怨升高 習再揮反腐鐮刀整治醫藥界 TVBS文茜的世界財經周報 20230903
https://m.youtube.com/watch?v=QVmgrxyVfa0


陸擬修法 穿戴或散布「傷害民族精神」 要罰｜TVBS新聞
https://m.youtube.com/watch?v=Ic4KU2jhpSc

[behappyalways]

The scale of mainland’s nighttime economy exceeds RMB 42 trillion and Hong Kong will follow suit by launching a night market

大陸夜間經濟規模逾42兆RMB 香港跟進將推夜市｜秦綾謙｜FOCUS全球新聞 20230907@tvbsfocus

https://m.youtube.com/watch?v=Uskdm4jVRMU

[behappyalways]

The China Model Is Dead
https://www.msn.com/en-us/money/markets ... rthp-feeds