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

[winston]

Beijing pledges to pump up spending

To help cash-strapped local authorities meet basic spending needs, the central government will continue transferring funds to them with poorer areas receiving preference.

Officials would roll out some tax cuts focusing on support for technological innovation and manufacturing development.

Source: Bloomberg

https://www.thestandard.com.hk/section- ... p-spending

[behappyalways]

Protests By Angry Chinese Workers Surge To Most In 7 Years, Posing A Threat To Beijing's Rule
https://www.zerohedge.com/economics/pro ... jings-rule

[behappyalways]

Xi Jinping’s determination to “cleanse the door” is astonishing!
'24.01.01【觀點│正經龍鳳配】Pt.2 習近平「洗門風」的決心非常驚人！
https://m.youtube.com/watch?v=wxIr3q6XtRI


The country’s first defense minister with a background in the navy, Xi Jinping’s military overhaul to solve the Taiwan issue?
國首位海軍出身防長 習軍隊大換血要解決台灣問題? TVBS文茜的世界周報 20240106
https://m.youtube.com/watch?v=CVJPLEXh_NI


Hu's economics is what created a time bomb in the chinese economy.
https://twitter.com/ChinaBeigeBook/stat ... 5048196259


"The US assessments cited several examples of the impact of graft, including missiles filled w/water instead of fuel & vast fields of missile silos in western #China w/lids that don’t function in a way that would allow the missiles to launch effectively"
https://twitter.com/ChinaBeigeBook/stat ... 2359126138

[behappyalways]

Chinese FDI Inflows Hit Multi-Year Lows
https://www.zerohedge.com/markets/chine ... -year-lows


Here come more crackdowns against businesses by China, marking the fourth year of such activity as we start 2024
https://twitter.com/Mayhem4Markets/stat ... 7955017188

[behappyalways]

China's exports fell for the first time in 7 years during 2023, down 4.6%.

Imports dropped by 5.5% last year, marking the first decline there since 2020.

Exports to Russia, however, grew 47% in 2023 and imports from the country rose 13%.
https://twitter.com/Mayhem4Markets/stat ... 8133964870

[behappyalways]

Price Wars Spark Rout In China's Consumer Sector
https://www.zerohedge.com/markets/price ... mer-sector

[winston]

China GDP: Beijing’s long to-do list to boost economy in 2024

China’s economy grew by 5.2 per cent year on year in 2023, hitting its annual economic growth target following the same expansion in the fourth quarter

But China is still faced with mounting market concerns heading into 2024, with waning investor confidence, a protracted property market slump and a weak private sector

by Orange Wang and Frank Chen

Source: SCMP

https://www.scmp.com/economy/economic-i ... e=homepage

[behappyalways]

"Charm Offensive" beckons foreign investment!
Li Qiang's Davos speech called for mainland China's economic growth to exceed standards

魅力攻勢」招手外資! 李強達沃斯演說 喊中國大陸經濟成長超標｜方念華｜FOCUS全球新聞 20240117@tvbsfocus

https://m.youtube.com/watch?v=WG5Qhv0cP0E

[behappyalways]

Buying a car can also be a mess!
Incidents of employees blocking doors to demand wages broke out in many places in China.
Car dealer groups collapsed overnight. Banks impounded cars overnight. Car owners could not pick up their cars after paying money.
買車也能被爛尾！中國多地爆發員工堵門討薪事件 汽車經銷商集團一夕倒閉 銀行連夜將車子扣押 車主交了錢取不了車│【國際大現場】20240120│三立新聞台
https://m.youtube.com/watch?v=iNhORjqZq2U


"Hidden cards" will see the light of day again in half a year! Lu's latest youth unemployment rate is 14.9%, excluded from students
「蓋牌」半年重見天! 陸最新青年失業14.9% 排除在學生｜方念華｜FOCUS全球新聞 20240118@tvbsfocus
https://m.youtube.com/watch?v=63kd6sWPu2A

[winston]

Capital sets 5pc growth rate for year ahead

The general public budget revenue is expected to increase by 5 percent this year while the jobless rate will be kept under 5 percent,

Consumer price inflation is forecast to rise about 3 percent this year.

It will also boost new types of consumption such as digital and green consumption

Yin said that the government will continue to satisfy housing demand by aiming to provide 70,000 units for supportive rental housing.

This came after data showed that Beijing's general public budget revenue increased by 8.3 percent to surpass 600 billion yuan in 2023,

The city's surveyed urban unemployment rate came in at 4.4 percent last year.

Source: The Standard

https://www.thestandard.com.hk/section- ... year-ahead