China hurrying to support market, but real estate firms still trembling

Economy 05/20/22, 09:38

China’s central bank worries about the downturn in the property market. A few days ago, it decided to cut mortgage rates. But real estate companies are still facing a lot of challenges. Data from Sino-Singapore Jingwei site reveals the current state of China's real estate industry. The data shows that more than ...

Fear of sanctions, China should improve security of overseas assets: expert

Economy 05/20/22, 05:13

According to Xinhua Finance, the 2022 Tsinghua PBCSF Chief Economist Forum was held online on May 14. It brought many top global economic and financial experts together to discuss the worldwide economy and order during the turbulent 2022. Among them, Yu Yongding, researcher and doctoral supervisor of the Institute of World ...

China’s economic downturn this time is different

Economy 05/20/22, 04:45

The Wall Street Journal published an analysis, stressing that China's authorities have no clear plan to turn things around amid April's economic distressing data. When its zero-Covid policy implementation shrinks the economy, the Chinese regime lacks an explicit and foreseeable path to handle the downturn. On Monday, China just released its ...

China’ land revenue dropped 38% in April amid lockdown concern

Economy 05/20/22, 03:36

Latest news indicates that China’s zero-Covid strategy is taking a toll on the economy. Citing data from China’s Finance Ministry, Nikkei reported that its land revenue dropped 38% year-on-year in April. This is the largest decrease in over six and a half years. Housing sales also fell more than 40% year-on-year in ...

China’s Zero-Covid hurt e-commerce, JD.com reports heavy losses

Economy 05/20/22, 02:24

China’s strict Covid-19 lockdowns have severely impacted the country’s e-commerce through disrupted logistics and dampened demand. On May 17, JD.com, a leading supply chain-based technology and service provider, announced its unaudited financial results for March 31, 2022. The company reported a net loss to ordinary shareholders for the first quarter of 2022 ...

China: cities closed, massive protests and economy fell to a 30-year low

Economy 05/19/22, 10:30

To fight the omicron variant, China closed Shanghai in March. Currently, the number of cities under lockdown has reached dozens. With many shutdowns happening across Beijing, some people are now worried about a possible total lockdown in Beijing. Beijing authorities assure that they have enough supplies to meet people's needs and continue ...

Friend-sourcing is a big blow to China’s economy: expert

Economy 05/19/22, 10:09

As the Russia-Ukraine war and the Covid-19 pandemic expose the fragility of global supply chains, the U.S. and its allies are pursuing an alternative sort of trade. The first practice is “offshoring,” which means transferring production overseas to save money. After that, “onshoring” or “reshoring” helps bring production back home to ...

UK announces end more than 16 million dollars of aid to China

Economy 05/19/22, 09:58

Britain’s Business Secretary, Kwasi Kwarteng, said on Tuesday, May 17, that around £13 million (over 16 million dollars) of UK aid for ‘research and innovation’ to China would end this year. Kwarteng tweeted, “We’ll work with China to tackle global challenges, but we can make a bigger difference spending UK aid ...

Shenzhen’s exports fall amid lockdown as manufacturers shift to Vietnam

Economy 05/19/22, 09:32

China's zero-Covid policy is driving global tech manufacturers and exporters to shift away from the country's tech capital of Shenzhen. They are finding alternative destinations such as Vietnam, especially during the first months of this year when China's cities are imposing lockdown measures to contain the Covid epidemic. Statistical data released ...

China’s stock market is close to the bottom: Expert

Economy 05/19/22, 09:12

As Beijing still carries out the controversial zero-Covid policy nationwide, the Chinese stock market is close to the bottom, reflecting its economy. Top deal maker, Fan Bao, CEO of investment bank private equity firm, China Renaissance, told CNN that investment sentiment is not looking promising. China's major stock indexes both fell so ...

China’s April economic indicators deteriorate amid lockdown

Economy 05/18/22, 09:56

The National Bureau of Statistics of China (NBSC) recently announced that China’s economy is facing a downturn as both global and domestic impacts are higher than expected. In addition, Chinese media outlet CFI reported a reduction in April fiscal revenue at some places. Shenzhen fell 44% year-on-year, Suzhou fell by 49.6%, ...

Lockdown hits Shanghai airports, passenger traffic falls nearly 99% in April

Economy 05/18/22, 08:02

China's strict measures to contain the Covid outbreak have had a severe impact on the airline industry. In its financial hub of Shanghai, airports nearly froze due to its lockdown. Shanghai Airport Group owns Pudong Airport and Hongqiao Airport. On Monday, May 16, the group released a briefing on transportation and production ...