3 Chinese top airlines expect huge losses due to Covid and other reasons

Economy 07/17/22, 00:49

China's three largest airlines are expected to suffer heavy losses in the first half of this year, citing adverse impacts from the repeated Covid outbreaks and surging fuel prices.   China Southern Airlines, Air China, and China Eastern Airlines are estimated to post combined losses of around $8 billion in the first ...

Continuous bad news for Chinese economy

Insights 07/16/22, 18:30

July 15 was bad news for the Chinese economy as the country's three major airlines lost $7.8 billion in the year's first half. After the Chinese regime proclaimed that three major airlines in China announced orders for 292 Airbus A320 aircraft worth about $37 billion from the European multinational aerospace corporation ...

Deadlock: China’s real estate crisis worsens, protests erupt

Insights 07/16/22, 16:22

After a few months of relative tranquility, the real estate crisis in China is again gaining strength and revealing that the entire real estate system based on financial speculation and not on real needs is collapsing. It's putting China's productive system as a whole at risk.  Recently, a group of buyers ...

China’s financial turmoil is just around the corner

Economy 07/16/22, 10:02

A growing number of desperate homebuyers across China withhold mortgage payments on unfinished projects, worsening fears of financial contagion in the country’s troubled real estate sector. Celebrities Jet Li and Zhang Yimou are eager to sell their properties. Investors are dumping China’s banking and real estate stocks and corporate bonds ...

Alibaba fired one-third of its strategic investment department

Economy 07/16/22, 08:54

Sources have told Reuters that tech giant Alibaba is cutting one-third of its internal investment team as Beijing’s regulatory crackdown slows down deal-making.  Alibaba said they are letting go of up to 110 employees, most of whom have already been informed of their dismissal. They are mainly mid-level and senior employees ...

China’s college graduates under pressure due to worst job market in decades

Education 07/16/22, 07:54

According to VOA News, more than 10 million college graduates are expected to flock to the job market in China this summer. However, many college students graduating this year have had difficulties finding jobs due to the government's ‘zero-COVID’ policy. China Employment Research Institute of Renmin University of China and Zhaopin ...

China’s GDP growth for the second quarter hits new low, missing expectations

Economy 07/16/22, 07:48

According to official data from China's National Bureau of Statistics, the country's economic growth rate in the second quarter only reached 0.4%, missing expectations.  June's industrial production is also below expectations, increasing by 3.9% year on year, under the 4.1% forecast. It is grim data for the second quarter due to strict ...

China’s weird ideas in desperate bid to save real estate sector

Economy 07/15/22, 03:01

Desperate to rescue the housing market, Chinese authorities have devised many strange ideas. From giving discounts to accepting garlic as a downpayment, they recently issued bulk buying houses.  Since June, many places in Shanxi, Guangdong, Liaoning, Anhui, and Hubei have implemented policies related to group buying. The government encourages agencies, state-owned ...

5 mysteries in Henan Bank fraud

Economy 07/15/22, 02:50

China Banking and Insurance Regulatory Commission, Henan office announced their advance payment plan on July 11 to quell public discontent. However, there are still 5 doubts about the incident that have not been revealed. In the announcement, Henan authorities stated the first payment would start on July 15 for customers of ...