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

[winston]

China’s murky debt corner faces funding squeeze

By Lorretta Chen

The US$9 trillion (RM40.7 trillion) of Chinese local government bonds that helped drag the rest of the world out of the 2008 financial crisis are a growing risk this time around.

Goldman Sachs estimates that 34 trillion yuan of local government debt sits on the balance sheets of banks it covers.

Source: Bloomberg

https://theedgemalaysia.com/node/674969

[behappyalways]

High youth unemployment rate in mainland China. More than 60% of graduates want to be internet celebrities

大陸青年失業率高 畢業生逾六成想當網紅｜方念華｜FOCUS全球新聞 20230713@tvbsfocus

https://m.youtube.com/watch?v=StpkUx-RAVE

[behappyalways]

The mainland's recovery is weak and the export performance in June, is the worst in 3.5 years
大陸復甦力道不足 六月出口表現3年半來最差｜方念華｜FOCUS全球新聞 20230714@tvbsfocus
https://m.youtube.com/watch?v=DEW5jCx6uts


Agree. Our Q2 borrowing data were shockingly weak.
https://twitter.com/ChinaBeigeBook/stat ... 5878606848

[winston]

From GDP to youth unemployment, 6 takeaways from China’s economic data in June

China’s economic growth missed expectations and grew by 6.3 per cent in the second quarter, year on year, up from the 4.5 per cent growth in the first quarter

Monthly data also released on Monday indicated faltering private confidence, record high youth unemployment and overhanging risk in property market

by Andrew Mullen

Source: SCMP

https://www.scmp.com/economy/economic-i ... e=homepage

[winston]

NDRC: CN Jun Electricity Consumption Hikes 3.9% YoY; Coal Storage of Power Plants Sets New High

In the first half of this year, the electricity consumption of the whole society of China heightened 5% YoY, as the National Development and Reform Commission (NDRC) announced the data at the regular press conference in July.

In June, the electricity consumption hiked 3.9% YoY.

At present, China hails a strong guarantee of electricity supply for the summer peak season.

At the end of June, the coal storage of nationally-regulated power plants reached 199 million tons, setting an all-time high.

Source: AAStocks Financial News

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

[behappyalways]

In China, even the iron rice bowl is not guaranteed! The Chinese government has no money, and the local government has borrowed a lot. It is unable to repay, and the civil servants in many provinces collectively cut their salaries
在中國連鐵飯碗都不保了! 中國政府沒錢了 地方政府大量舉債.無力償還 多省公務員集體降薪│記者 葉俐緯│【國際大現場】20230713│三立新聞台
https://m.youtube.com/watch?v=-JrAs013EYo


China’s youth unemployment rate hits new high as recovery falters
https://m.youtube.com/watch?v=r8knUGCApwQ

[behappyalways]

China's GDP grew by 5.5% in the first half of the year, lower than market expectations
大陸上半年GDP增長5.5% 低於市場預期｜方念華｜FOCUS全球新聞 20230718@tvbsfocus
https://m.youtube.com/watch?v=XBR_Mbqiu1w


How Do Chinese Citizens Feel About Other Countries?
https://www.zerohedge.com/geopolitical/ ... -countries


China's Youth Unemployment Rate Continues to Rise, Planting Uncertainty Fuse
中國青年失業率持續攀升 埋下不安引信 TVBS文茜的世界財經周報 20230716 X SHARP
https://m.youtube.com/watch?v=HJqNTQUgYk0

[winston]

Chinese professor says youth jobless rate might have hit 46.5%

The National Bureau of Statistics said that month's jobless rate for people between the ages of 16 and 24 was 19.7%, less than half of what Peking University professor Zhang Dandan estimated.

If 16 million non-students "lying flat" at home or relying on their parents were included, the rate could have been as high as 46.5%, Zhang wrote in an online article in Caixin, a respected financial magazine.

The official youth jobless rate, which only includes people actively seeking work, rose to a record 21.3% in June after the world's second-biggest economy lost steam in the second quarter.

Source: Reuters

https://theedgemalaysia.com/node/675423

[winston]

China announces steps to boost sales of cars, electronics

Local governments were cautioned against implementing policies that would foster vicious competition.

Regions will be encouraged to increase annual car purchase quotas and efforts will be made to support sales of second-hand vehicles.

Policymakers have identified the country’s automobile sector as a key lever which they want to use to shore up growth. In June, they unexpectedly extended a purchase tax break on new energy vehicles (NEVs) until 2027.

Source: Reuters

https://www.freemalaysiatoday.com/categ ... -366156373

[behappyalways]

A good watch

Unemployment rate, deflation? Your understanding of the Chinese economy is too shallow

'23.07.14【觀點│龍行天下】Pt.1 失業率、通縮？你對中國經濟的理解太淺了

https://m.youtube.com/watch?v=Xlalj34gk_0