China - Economic Data & News 22 (Jul 24 - Dec 25)

[behappyalways]

Years Of Repeat Central Planning Mistakes Have Doomed China's Economy
https://www.zerohedge.com/economics/yea ... as-economy


This was always one of the dumbest debates
https://x.com/ChinaBeigeBook/status/1874873664400949302

[behappyalways]

Customers know how much they earn!
Pang Donglai's products are marked with the "purchasing price" and boasts a three-day unconditional return.
Pang Donglai's "people-oriented" approach has won the hearts of customers.
The founder was jailed twice for selling fake goods. He has changed his mind and "exchanges genuine products for sincerity"

賺多少顧客都知道! 胖東來商品標出"進貨價" 標榜3天無條件退貨 胖東來"以人為本"深得客心 創辦人曾賣假貨2度入獄 洗心革面"真貨換真心"│國際焦點20250103│三立新聞台

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

[winston]

High-end diners tighten purse strings

by June Chen

China's high-end restaurants saw average spending per person drop by about 20 percent in 2024 with the driving force of dining consumption shifting from large cities to small and medium-sized ones.

Source: The Standard

https://www.thestandard.com.hk/section- ... se-strings

[winston]

How China’s planning its biggest push in years to cut hidden debt

Expectations for a massive swap of so-called hidden debt that would bring a swath of borrowing on to local governments’ official balance sheets.

The hope is that the process would reduce risks of default, lower debt-servicing costs and give local officials greater scope to support economic growth.

LGFVs are companies that borrow on behalf of provinces and cities to finance investment in infrastructure such as roads, bridges, airports and industrial parks.

The International Monetary Fund estimates LGFVs had over 60 trillion yuan (S$11.5 trillion) of debt as of last year — equivalent to about half of China’s gross domestic product.

Source: Bloomberg

https://www.businesstimes.com.sg/intern ... idden-debt

[winston]

China’s richest regions cut electricity prices to protect industries

MORE Chinese regions are cutting electricity prices to help out their embattled industries, which is likely to worsen the squeeze on profits at power suppliers.

The richest coastal provinces have reduced their benchmark thermal power prices by about 10 per cent from last year.

The bank expects power demand for coal, the country’s mainstay fuel, to fall by 4 per cent in 2025.

Source: Bloomberg

https://www.businesstimes.com.sg/intern ... industries

[behappyalways]

After ten years of trade conflict between the United States and China, China is fully committed to developing high-tech manufacturing.
Electric vehicles account for 1.2 times of global demand.

美中貿易衝突十年 中全力發展高科技製造業 電動車占全球需求1.2倍 TVBS文茜的世界周報 20250104

https://m.youtube.com/watch?v=sqqX3jzfgYA

[winston]

China vows ‘very proactive’ fiscal policy before Trump’s return

The government has said it will sell more special sovereign and local bonds this year to fund various programs, including subsidies for buying smartphones and cars. Part of the funding will also be used to rein in local governments’ debt risks and recapitalize banks to beef up their lending ability.

Liao reiterated that details for the issuance are undergoing the necessary legal process and will be announced at the annual session of the National People’s Congress in March.

Authorities have also promised to raise the official deficit to signal their emphasis on growth. Beijing has typically kept the level at 3 percent of gross domestic product as it seeks to demonstrate fiscal discipline. The official deficit doesn’t count money borrowed through special bond sales.

Source: Bloomberg

https://www.thestandard.com.hk/breaking ... 99s-return

[behappyalways]

China's demand is sluggish!
Last year's CPI increased by 0.2%, a 15-year low, to save domestic demand!
Officials expanded the "trade-in" program, and netizens became angry when they saw the subsidies.

中國需求不振! 去年CPI年增0.2％"15年新低" 搶救內需!官方擴大"以舊換新" 網友一看補貼怒了│主播 苑曉琬│大世界新聞20250110｜三立iNEWS

https://m.youtube.com/watch?v=vwrHZ5dSyY8

[winston]

China ‘confident’ in 2025 economic rebound, Hong Kong is key: central bank chief

Mainland’s property market is improving, PBOC governor Pan Gongsheng says, reiterating importance of special-purpose bonds for buying idle land and unsold homes

by Ralph Jennings and Sylvia Ma

Pledging supportive monetary tools, measures to stem property market risks and tighter financial links between the mainland and Hong Kong.

China will consider cutting interest rates and the reserve requirement ratio “to ensure ample liquidity and maintain a supportive environment” for lending.

Beijing could also adjust and increase fiscal spending, he said.

Source: SCMP

https://www.scmp.com/economy/china-econ ... 94553&tc=4

[behappyalways]

Stimulate domestic demand! China has increased the scope of "old trade-in" subsidies, but the auto market has not expanded due to stimulus
振內需! 陸增「舊換新」補貼範圍 但車市未因刺激擴大｜方念華｜FOCUS全球新聞20250109 ‪@tvbsfocus‬
https://m.youtube.com/watch?v=ww4jq-grNeE


Chinese Economist: China’s official GDP data is always 5%. Xi Jinping wants people to be confident, but his own officials admit they have made false claims in the past.
中國經濟學家：中國GDP官方數據永遠是5%　習近平要國人充滿信心　但自家官員坦承過去造假｜全球聊天室｜#鏡新聞
https://m.youtube.com/watch?v=SnxHbkp00W0


Can Xi Jinping encourage people to consume? He has set 9 major tasks and "boosting consumption" ranks first
習大大叫得動人民消費? 設定9大任務 "提振消費"排首位 TVBS文茜的世界周報 20250105
https://m.youtube.com/watch?v=uCo0cyv7jNg