China economy

China 01/06/22, 16:52

China Huarong Asset Management Company had its shares resume trading on the Hong Kong Stock Exchange on Jan. 5 after a nine-month suspension was lifted, but the stock plummeted 55%, hitting a record low. The shares dropped to HK$0.495 (US$0.063) on Wednesday, which is the lowest price since Huarong started listing ...

China 01/03/22, 04:45

China's economy has slowed down due to weak consumption after the pandemic. Beijing officials warned at this month's economic planning meeting that the CCP was facing "triple pressures" of "demand contraction, supply shock, and weakening expectations." According to the latest data from the National Bureau of Statistics, China's retail sales were not ...

World 01/02/22, 15:13

The Chinese Communist Party leader Xi Jinping in early January 2021 outlined his vision for the party and called for conviction and confidence amid unprecedented global challenges at the Party School of the CCP's Central Committee. Xi repeatedly announced that "time and momentum are on our side," despite problems such as ...

World 12/28/21, 15:40

The Chinese Communist Party (CCP) plans to tighten domestic enterprises' overseas share sales. The regime recently banned foreign listing firms that might cause national security concerns, as Bloomberg reported. Any Chinese firms considering initial public offerings and additional share sales abroad will have to register with the China Securities Regulatory Commission, ...

China 12/24/21, 03:16

Authorities of Chengdu city, Sichuan province, have taken over two plots of land that belong to the debt-laden Evergrande, without compensation. The city filed their notice on Dec. 17, four days after officials of Haikou city announced that it would seize eight tracts of land that belonged to Evergrande, which is ...

World 12/22/21, 15:33

Shimao Group, a giant Chinese real estate group, has sold their stakes in a major project named Victoria Harbor in Hong Kong, according to Epoch Times. The deal was paid in cash, with an estimated loss of nearly $90 million.  Shimao Group is ranked 13th among China's real estate businesses with largest ...

China 12/20/21, 16:29

Chinese state-run media ignored Xi Jinping in a propaganda article praising the Chinese Communist Party (CCP) on December 9th. The piece entitled "Reform and Opening is the great awakening of the China Communist Party" was reposted on prominent news agencies in mainland China such as the People’s Daily and Qiu Shi. According ...

World 12/20/21, 14:47

Many civil servants in Jiangsu, Zhejiang, Guangdong, Fujian, and Guangdong provinces have had their salaries trimmed since December 2021 with the rate cut between 20% to 30%, the Epoch Times citing local sources reported. Accordingly, Shanghai has been considering a salary cut and Shaoguan has mainly reduced payrolls.   One female official in ...

World 12/16/21, 18:50

An Economist in the U.S., Li Hengqing, told Epoch Times on Dec. 11 that for a considerable time, house prices in China had continuously increased, not decreased.  However, house prices will continue to fall shortly because they need to sell properties quickly to get money to survive in these uncertain times. The ...

World 12/14/21, 02:00

Major Japanese tire manufacturer Bridgestone announced that it would close a factory in Huizhou, Guangdong, China, at the end of December.  The reason, according to Bridgestone, stemmed from fierce tire value competition in China.  According to China Auto News, the company's revenue fell by double digits in 2020, resulting in a net ...

World 12/13/21, 14:57

Vision Times reported after Bytedance and iQiyi laid off a series of employees, Kuaishou, the owner of the video-sharing platform second only to Tik Tok, has also started to do the same. The latest news shows that Kuaishou is laying off employees in its Beijing, Shanghai, Guangdong, and other offices. In ...

China 12/13/21, 00:06

On Dec. 10, NTD News reported that China's housing market had entered a cold winter, according to the Mainland E-House Real Estate Research Institute.  The total quantity of new commercial housing in 100 cities by the end of November is 521.1 million square meters. It is the highest supply in the past a ...

World 12/12/21, 15:51

China's central bank has recently cut its required reserve ratio (RRR) to help save the dying real estate market, but the policy was reversed sharply.  The Wall Street Journal reported that the Communist Party of China (CCP) leader Xi Jinping has recently conducted a comprehensive inspection of financial and banking regulators ...

World 12/12/21, 03:14

As of Dec. 8, 2021, at least 32 officials in Chinese Communist Party (CCP) financial institutions have been investigated, far exceeding the "nearly 20" number of people investigated in 2020, according to the Epoch Times. On Dec. 3, the CCP's Central Commission for Discipline Inspection announced that two senior officials in ...

China 12/11/21, 03:53

Fitch Ratings changed Evergrande's credit rating from "C" to "RD" (Restricted Default) on Dec. 9, 2021. Fitch was the first credit rating agency to announce the default of China Evergrande's foreign bonds. The UK Financial Times said that Fitch's reputable rating just marked the beginning of Evergrande's downfall. Evergrande's liabilities are estimated to ...

World 12/10/21, 23:24

On Dec.3, The Paper reported that the leading property developer “Fantasia Group” is experiencing liquidity difficulties. They have officially canceled the transaction in the North China region. This seems to be the last gasp for them. Recently, in his farewell letter on the Internet, Huo Yong, president of the North China ...

China 12/10/21, 01:15

China's National Bureau of Statistics on Dec. 6 announced that this year's total national grain output reached 682.85 million tons—2% higher than last year. The Chinese media also claimed that this year's grain production hit a new high. Last year, Southern China was hit by multiple floods affecting large areas throughout ...

China 12/09/21, 15:43

According to Aboluowang, since the beginning of this year, the Chinese regime has increased controlling measures in many fields, and the number of workers who have been laid off has been escalating. Several technology companies in China are struggling and are forced to cut a great section of their human resources. Many ...

U.S. 12/07/21, 15:32

U.S.–listed Chinese concept stocks plummeted on Friday, Dec. 3. The total market value quickly evaporated $108.3 billion after the U.S. imposed the Holding Foreign Companies Accountable Act (HFCAA). The Securities and Exchange Commission (SEC) announced that they had approved revisions to the HFCAA's final rule on Thursday. The rule required China's stock companies ...

China 12/07/21, 07:43

Recently Chinese Premier Li Keqiang announced that he would apply cutting banks’ “​​reserve requirement ratio” (RRR) measure “to ensure stable and healthy economic operations.” Li Keqiang held a video conference with International Monetary Fund chief Kristalina Georgieva in Zhongnanhai. According to Li, in order to ensure the smooth operation of the ...