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

[behappyalways]

The portion at 3:20 is funny....

Country Garden and Wanda have repeated explosions, Li Ka-shing sells properties at a 30% discount, and the economic prospects of China and Hong Kong are gloomy

碧桂園.萬達連番爆 李嘉誠7折甩賣房產 中港經濟前景陰霾重｜方念華｜FOCUS全球新聞 20230809@tvbsfocus

https://m.youtube.com/watch?v=Ckh0IMk-15w

[behappyalways]

China's economy is showing signs of serious trouble — and the problems are still mounting
https://www.businessinsider.com/china-e ... ing-2023-8


This is not good. Not good at all. New loans just fell 88% MoM. Just RMB 346bn in July - lowest since 2009. Ouch. There's not a lot of confidence to borrow in the economy right now. This is partly due to delayed reaction and slow implementation of stimulus policies
https://twitter.com/BrianTycangco/statu ... 2804807680

[behappyalways]

Heavy rain hits Beijing-Tianjin-Hebei and Northeast China hard after a century

百年不遇暴雨重創京津冀與東北 高官卻神隱 TVBS文茜的世界周報-歐洲版 20230812 X SHARP

https://m.youtube.com/watch?v=iVq5ZO3kRcw

[winston]

NBS: CN Jul Power Generation Grows 3.6% YoY; Thermal, Nuclear, Solar Energy Generation Growth Rates Fall

The National Bureau of Statistics (NBS) released data on electricity production, which showed that power generation in China in July amounted to 846.2 billion kWh, representing a YoY growth of 3.6% and an accelerated growth rate of 0.8 percentage points as compared with that of June, with a daily average of 27.3 billion kWh.

In July, the growth rates of thermal power, nuclear power and solar power fell, the decline of hydropower narrowed, and the growth rate of wind power turned from negative to positive.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[behappyalways]

China reports big data miss in July, stops releasing youth unemployment numbers
https://www.cnbc.com/2023/08/15/china-e ... -data.html

[behappyalways]

1 out of every 5 people is unemployed!
China's youth unemployment rate hits a new high of 21.3%.
每5人就1人失業!中國青年失業率21.3%創新高 官方宣布不公布了 北大估真實數字是...｜非凡財經新聞｜20230815
https://m.youtube.com/watch?v=SYFRATBz9pw


As China announces that it will no longer be publishing youth unemployment data (because the rate is very high lol), a reminder that they have been steadily publishing fewer and fewer economic indicators in recent years as the data has become less rosy
https://twitter.com/jburnmurdoch/status ... 0925193216

[winston]

President Xi Jinping has resisted pulling the trigger on a major stimulus to revive the world’s second-biggest economy.

The grim market reaction to a surprise rate cut shows investors want to see him take much bolder steps.

The People’s Bank of China on Tuesday (Aug 15) lowered the rate on its one-year loans – or medium-term lending facility – by 15 basis points to 2.5 per cent, the steepest cut in three years.

The move came shortly before the release of July data that showed weak consumer spending growth, sliding investment and rising unemployment.

Zooming out, the economic picture looks even worse.

Bank loans plunged to a 14-year low last month, while deflation is setting in and exports are contracting.

One of China’s largest property developers is at risk of default and a financial conglomerate with US$138 billion under management missed payments on investment products, stoking fears about possible contagion.

Source: Phillips

[behappyalways]

The mainland suspends the release of the youth unemployment rate, but the data is too poor to speak out

大陸暫停公布青年失業率 遭質疑數據太差不敢講｜方念華｜FOCUS全球新聞 202308015@tvbsfocus

https://m.youtube.com/watch?v=eIwJ5fP5R1I

[behappyalways]

The mainland's economy continues to be poor, with retail growth of 2.5%, the worst since December last year
大陸經濟繼續差 零售增長2.5% 去年12月以來最差｜方念華｜FOCUS全球新聞 20230816@tvbsfocus
https://m.youtube.com/watch?v=n274sDEDj6Y


Furious Investors Protest Outside China's Insolvent Shadow Banking Giant After It Misses Payments, Warns "Liquidity Has Suddenly Dried Up"
https://www.zerohedge.com/markets/furio ... -it-misses

[behappyalways]

The size of these leading Chinese mega-cities is simply staggering
https://twitter.com/Mayhem4Markets/stat ... 2443274400