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

[behappyalways]

Rare! Beijing publicly confirmed that the third-highest leader of the Communist Party of China was absent from the National People's Congress due to illness

罕見! 北京公開證實 中共三把手「因病缺席」人大閉幕｜方念華｜FOCUS全球新聞20250312 ‪@tvbsfocus‬

https://m.youtube.com/watch?v=x2yY0S9xtHE

[winston]

How China’s slowing consumer spending is affecting the recovery of F&B firms

Analysts warn that targeted measures are needed to revive the industry, as companies like Nayuki and Xiabu Xiabu report losses and closures

Tepid consumer spending and escalating competition are weighing on the performance of China’s food and beverage (F&B) chains, with analysts warning that chances of a sustained recovery remain slim in the absence of policy support targeted at the sector.

Mainland fresh drinks maker Nayuki is expecting an adjusted net loss of up to 970 million yuan (US$134 million) for 2024, compared with a profit of 20.9 million yuan the previous year, according to a filing to the Hong Kong stock exchange this week.

The company attributed the loss to consumption headwinds, intensifying competition and losses from the closure of underperforming stores. It also said it plans to continue shutting down locations nationwide.

Hotpot restaurant chain Xiabu Xiabu said in a filing to the Hong Kong exchange this week that it could record a 20 per cent decline in revenue to about 4.8 billion yuan for 2024, alongside a net loss of up to 410 million yuan. It specifically noted that a consumption downgrade continues to put pressure on its mid-to-high-end brand, Coucou.

Source: SCMP

https://www.scmp.com/business/companies ... pe=section

[winston]

Trump’s tariffs will slow China’s economy and impede global trade, OECD forecasts

Chinese economy is seen to grow 4.8 per cent this year, with any decline in demand felt across multiple industries and regions

by Igor Patrickin

China’s economy is set to slow further as a result of new tariffs imposed by US President Donald Trump, with global repercussions, the Organisation for Economic Cooperation and Development said on Monday.

According to the OECD’s latest outlook, the Chinese economy will likely grow by 4.8 per cent this year before slowing to a 4.4 per cent clip in 2026.

The organisation attributed part of the deceleration to the 20-percentage-point increase in tariffs imposed by the US on Chinese imports, which has triggered retaliatory action by Beijing.

Escalating tensions between the world’s two largest economies have elicited global concerns, with several experts apprehensive about the potential for a more protracted trade conflict than the one he started in his first term.

Source: SCMP

https://www.scmp.com/news/china/money-w ... e=homepage

[winston]

Growth target hard to achieve, warns NBS

China's industrial output grew 5.9 percent year-on-year in the first two months of this year, slowing from the 6.2 percent expansion in December.

Retail sales, a gauge of consumption, rose 4.0 percent in the January-February period, better than a 3.7 percent rise in December.

The government will raise the minimum wage and step up efforts to stabilize the stock and property markets to strengthen consumer confidence.

However, China's urban unemployment rate climbed to 5.4 percent in February, the highest in two years.

Source: Reuters

https://www.thestandard.com.hk/section- ... -warns-NBS

[behappyalways]

Catering overseas expansion is successful, but domestic consumption still needs to be boosted

餐飲海外擴張成功上市 陸內需消費仍待振｜方念華｜FOCUS全球新聞20250317 ‪@tvbsfocus‬

https://m.youtube.com/watch?v=sQ-fOUyu348

[winston]

Beijing has unveiled a $41 billion government subsidy program to prompt buyers to replace old consumer goods with new products, boosting retail sales, as well as allocating $27 billion to subsidize equipment upgrades.

[behappyalways]

China opens first wholly foreign-owned hospital
https://m.youtube.com/watch?v=WYuB-GZ4J ... ttom-sheet

[behappyalways]

China’s restaurant undertakers turn failed dreams into profit
https://m.youtube.com/watch?v=I4jvYnmgzkc

[behappyalways]

Trump's ally "landed" for the first time.
Li Qiang used the "Development Forum" to woo Apple, Qualcomm and other American companies

川普盟友首「登陸」 李強藉「發展論壇」向蘋果.高通等美商招手 ｜方念華｜FOCUS全球新聞20250324 ‪@tvbsfocus‬

https://m.youtube.com/watch?v=cjj_19s_g ... kAaK0XXGki

[behappyalways]

China's economic recession and shrinking consumption have caused Hermès to close stores

中國經濟蕭條、消費縮手　「愛馬仕漢堡」慘陷關店潮｜#鏡新聞

https://m.youtube.com/watch?v=h7FdsuxFuqg