China - Economic Data & News 20 (Nov 22 - Aug 23)

[behappyalways]

Irony? Guess Which Nation Produces The World's Most Honey
https://www.zerohedge.com/commodities/i ... most-honey

[winston]

China’s $23 Trillion Local Debt Mess Is About to Get Worse

Source: Bloomberg

https://www.bloomberg.com/news/features ... #xj4y7vzkg

[winston]

China's economy has turned rotten and its reopening boom is a 'charade,' market expert says

by Filip De Mott

China's economic rebound narrative is not what it seems, Ruchir Sharma wrote in the Financial Times.

Many indicators of growth are underwhelming, the chair of Rockefeller International said.

"A growth model dependent on stimulus and debt was always going to be unsustainable, and now it has run out of steam."

Wall Street's assumption of 5% GDP growth would suggest corporate revenue growth of 8%, but it rose by 1.5% in the first quarter.

Imports — a strong indicator of consumer demand — dropped 8% in April, and credit growth last month was half as fast as forecasts. In addition, youth unemployment hit 20% and is rising.

Chinese debt service already accounts for a third of disposable income, excess savings in China are equal to 3% of GDP compared to 10% in the US, and China's growth potential is only half of its 5% target due to a shrinking population.

Source: Business Insider

https://finance.yahoo.com/news/chinas-e ... 01546.html

[behappyalways]

To stimulate domestic consumption, theme markets are held frenziedly across the mainland

刺激內需消費 大陸各地瘋辦主題市集｜方念華｜FOCUS全球新聞 20230522 @tvbsfocus

https://m.youtube.com/watch?v=hJcigPzMh0g

[winston]

China Warnings Flash Across Global Markets as Growth Disappoints

China’s muted economic rebound, and Beijing’s reluctance to deploy large-scale stimulus, are reverberating around the globe, crushing commodity prices and weakening equity markets.

Lopsided rebound that’s being led by consumer services, while industrial activity lags far behind.

In the crisis-ridden property market, sales are slowing after an initial rebound. Combined with the persistent financial troubles of real estate developers, that’s hampering new projects in a sector which accounts for about 20% of China’s GDP after including related sectors.

Infrastructure spending is being constrained by the hefty debt loads of local governments.

Source: Bloomberg

https://finance.yahoo.com/news/china-wa ... 48297.html

[behappyalways]

Youth unemployment hits new high in mainland China, 1 in 5 people are out of work

大陸青年失業創新高 每5人有1人沒工作｜方念華｜FOCUS全球新聞 20230524@TVBSNEWS01

https://m.youtube.com/watch?v=KhO2V0kMTLc

[behappyalways]

The historical goal of Xi's third term, is to lead the new international order outside the United States

習第三任期歷史目標 主導美國之外國際新秩序 TVBS文茜的世界周報-亞洲版 20230527 X SHARP

https://m.youtube.com/watch?v=QHZgeN6Omy4

[behappyalways]

Construction of Greater Bay Area Hongqimen bridge nears completion after gap closes
https://m.youtube.com/watch?v=90_SgkeSWv0

[winston]

Markets are sounding alarms on China's economy, but analysts say Wall Street is missing the big picture

by Filip De Mott

Financial markets have been raising red flags recently about China's economy.

That's because high expectations for a robust post-Covid rebound have largely failed to pan out.

But analysts said Wall Street is being too short-sighted and not looking long term.

Private investment, a major source of growth in China, has nearly collapsed in the past 15 months.

This may have to do with stringent regulation of Chinese business, as President Xi Jinping expands the role of the state in the market, dissuading business owners from investing in their firms, he said.

"That's the one big negative factor that I worry about more than all the other things that we have talked about. Why is private investment so weak?".

Source: Business Insider

https://finance.yahoo.com/news/markets- ... 00009.html

[behappyalways]

China’s Kunming Denies LGFV Debt Woes as City’s Fiscal Revenue Jumps
https://www.yicaiglobal.com/news/chinas ... enue-jumps


The Rise of Xi Jinping’s Young Guards: Generational Change in the CCP Leadership
https://asiasociety.org/policy-institut ... leadership