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

[behappyalways]

Academic qualifications are devalued in mainland China!
US media: Starting salary for top graduates is cut by 30%, while starting salary for technical positions is less than 20,000

中國大陸學歷貶值! 美媒:頂尖畢業生起薪砍30% 技職起薪不到2萬｜TVBS新聞

https://m.youtube.com/watch?v=aC8D4Ui6O6E

[behappyalways]

Mainland China’s return to hometown during Chinese New Year will hit new highs, labor shortages are coming ahead of schedule

大陸年節返鄉將創新高 缺工潮提前到｜方念華｜FOCUS全球新聞 20240122@tvbsfocus

https://m.youtube.com/watch?v=orL3Mrxi97E

[winston]

China’s economy to gradually heat up in 2024, with manufacturing, spending as top growth drivers, not property: Fidelity

China’s economic growth will be less reliant on property and local government financing amid a structural shift towards high-quality growth drivers, Fidelity says

Manufacturing and consumption are emerging as the pillars of the next phase of development
China's economic recovery

by Yuke Xie

Source: SCMP

https://www.scmp.com/economy/china-econ ... y-fidelity

[behappyalways]

The rich is not soft when buying bags! Clothing. Jewelry China sales increased luxury car .
IPhone but reduced

富豪買包不手軟!服飾.珠寶中國銷量增 豪車.iPhone卻降｜方念華｜FOCUS全球新聞 20240122@tvbsfocus

https://m.youtube.com/watch?v=E6KRz8y9Oo4

[winston]

China’s three-legged race to fend off the 4 D’s of an economic apocalypse

The dangers of debt, deflation, de-risking and demographics are at China’s doorstep, threatening growth in its US$17.67 trillion economy

A property crisis, chilled consumption, weak momentum and a broad lack of confidence in the economic outlook do not bode well for a return to normality in 2024

by Frank Chen

Source: SCMP

https://www.scmp.com/economy/china-econ ... e=homepage

[behappyalways]

Domestic Demand Economy: Is the Silver Economy Smart? Or Wishful Thinking?

陸新內需經濟:銀髮經濟 聰明? 還是一廂情願? TVBS文茜的世界財經周報 20240121

https://m.youtube.com/watch?v=wcu3iwScK38

[winston]

China’s economic prospects are brighter than they appear

China can expect a consumption slowdown and negligible contribution of net exports to GDP this year

To drive economic growth, investment growth must increase significantly, with quasi-deflation making it possible for the government to boost fiscal stimulus

by Yu Yongding

Source: SCMP

https://www.scmp.com/comment/opinion/ar ... hey-appear

[behappyalways]

You adjust your denominator to get a bigger number...

That's the implied number. But of course none of this is real. You fake one denominator down to juice the following year's YoY comparison & you need to revise another figure up.
https://twitter.com/ChinaBeigeBook/stat ... 9378082206

[behappyalways]

Is it all about bragging to save the economy?
CCTV praises Xi Jinping's "Jinjiang experience" 30 years ago.
Centralized control scares away foreign investment.
Xi Jinping's political development is even more closed.
救經濟全靠吹噓? 央視捧習30年前"晉江經驗" 集權管制嚇走外資 習近平領政發展更封閉│記者 謝廷昊│【國際大現場】20240125│三立新聞台
https://m.youtube.com/watch?v=sO5xt6SM1i8


"#China is embarking on its biggest consolidation in the banking industry by merging 100s of rural lenders into regional behemoths amid growing signs of financial stress"
https://twitter.com/ChinaBeigeBook/stat ... 1190003095


Consequences: Credit is continually channeled to unproductive uses. This is a recipe for ensuring economy suffers in the long-run, with low levels or no growth at all.
https://twitter.com/shehzadhqazi/status ... 7298468251

[behappyalways]

It represents a serious decline in China's economy!
The father is in debt and the 2-year-old daughter is on the blacklist.
China's "credit system" has adopted legal measures.
The number of people on the blacklist for dishonesty has increased significantly under Xi Jinping's administration.
Is this likely to create a vicious cycle?

代表中國經濟嚴重下滑! 父欠債.2歲女兒列黑名單 中國"信用體系"採連坐法 習近平主政下失信黑名單人數大增 恐釀惡性循環?｜記者 姚懷真｜【國際大現場】20240129｜三立新聞台

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