Economy

Economy 08/18/22, 03:56

After challenging daily life, China’s broiling heatwave is now meddling with its factories. Sichuan province has ordered manufacturers to numb activities for six days for scheduled blackouts. The province is cutting power to balance overlapping electricity demand and supplies during the scorching days. Nikkei Asia reports that the plants must cease ...

Economy 08/18/22, 03:56

The Cyberspace Administration of China (CAC), Beijing’s internet regulator, has just announced a list of 30 algorithms used by Alibaba, Tencent, ByteDance, and more, with a short description of how the code works and for which products they are used. The release follows regulations rolled out in March, in which CAC ...

Economy 08/17/22, 18:35

There are signs that the so-called "historic mission" of China's private enterprises is nearly over, and it's time to "run." The wealthy Chinese and the "run philosophy" Recently, a post on Zhihu, a Chinese question-and-answer website similar to Quora, explaining the term "the run philosophy" has attracted over 9 million views. According ...

Economy 08/17/22, 16:43

If China's real estate crisis continues to widen, it will certainly affect other important industries. Analysts point out that there are three businesses that are most vulnerable. According to CNBC, Fitch Ratings analyzed in a report that China's real estate crisis will affect more than 30 different types of businesses and ...

Economy 08/17/22, 14:42

Apparently, the freezing of depositors' money in China worsened the severe mortgage crisis. Both events were part of a larger financial crisis that emerged after years of indebtedness, unproductive investments, and the systematic increase in real estate prices of unfinished projects. Henan province, with a population of about 100 million people, ...

Washington 08/17/22, 13:44

The Chinese Communist Party published its official position on the Republic of China (Taiwan), in a white paper released on August 10, after months of intense harassment.  The book's title is "The Taiwan Question and China's Reunification in the New Era." It should be noted that Taiwan has never been ruled by ...

Economy 08/17/22, 04:06

According to new.qq.com, the two major hot pot listed companies both lost money in the first half of this year. On August 14, Haidilao released a profit warning, noting that it expected its operating income in the first half of 2022 would be about $24.8 million (16.7 billion yuan), down no ...

Economy 08/17/22, 04:05

China's southwestern Sichuan province is experiencing its worst heatwave in 60 years. Several cities will see temperatures of 42 ºC (107.6 ºF) degrees this week, while elsewhere will usually be at 35-39 ºC (95-102 ºF) degrees. Excessive electricity consumption has led to a power outage in this area. On Monday, August ...

Economy 08/17/22, 04:05

Vision Times reported that Yiwu City, Zhejiang Province, China's largest small commodity trading base, was locked down on August 11 due to a COVID outbreak. This has caused more difficulty for China's economy. Since August 14, most streets in Yiwu have restricted traffic. So the delivery of foreign trade orders has ...

Economy 08/17/22, 04:04

According to China's National Bureau of Statistics, key economic indicators fell short of expectations in July.  In an effort to boost confidence, China's central bank, the People's Bank of China, lowered the two key rates on Monday, August 15. It pumped $59 billion into the financial system and cut one-year medium-term ...

Economy 08/16/22, 15:08

China's real estate prices have fallen and the debt crisis has intensified. According to the Bloomberg Intelligence index, the stock value and bonds of Chinese real estate companies have “evaporated” by $90 billion this year. The bubble is bursting, and its negative effects are spreading, endangering the Chinese economy and ...

Economy 08/16/22, 04:00

Almost $6 billion is the total of frozen funds in four rural banks in the central province of Henan, China.  The bank crisis was so significant that protests erupted and soon turned into violent clashes.   China's banking regulator said last Thursday, August 11, that it had made advances to rural bank depositors ...

Economy 08/16/22, 03:59

Mazda Motor Corporation is looking to have parts produced outside of China after the country’s stringent pandemic policy severely affected its operating profits. According to Reuters, on August 9th, the Japanese car brand reported an almost $3 billion operating loss during the first quarter of the financial year. Production was particularly ...

Economy 08/16/22, 03:52

On August 12, a report titled Report on the request to maintain the business Environment and increase the Investment Confidence of Real Estate Companies went viral. There are 17 real estate companies as signatories placing their official seals on the document.The document has the official seal of many real estate ...

Economy 08/16/22, 03:46

According to Bloomberg, Chinese real estate developers have lost at least $90 billion of their stock values and dollar bonds in the property crisis that has been hitting the sector with insolvency and sharp drop in the housing business. The news outlet reported that since 2022, those Chinese developers have lost ...

Economy 08/16/22, 03:36

Three months ago, semiconductor startup Quillion Technology in China was a potentially promising industry player. Now mainland news says the company is terminating its business. Mainland media Late Post reported that workers from the computer processor newbie said on August 5 that the company would stop operation. Quillion Technology was established in ...