China: Decades-low economic growth target versus increasing defense spending

Economy 03/10/22, 18:09

At the National People's Congress (NPC) meeting on Saturday, China set its economic growth target at around 5.5% this year—the lowest growth target in 3 decades. By contrast, the country hiked its annual defense budget by 7.1%. Presenting the government work report at the meeting, Premier Li Kequiang announced that China ...

Debt risk from Chinese local authority investments

Economy 02/28/22, 02:43

China's economic growth has encountered an inflection point, making it challenging to keep its GDP growth rate at the same level as last year. According to many experts and academicians, the main drag on economic growth is consumption among three major demand factors: consumption, net exports, and investment. Beijing authorities are ...

China levels up crypto crackdown with jail sentence

Economy 02/27/22, 16:05

The Chinese authorities have gripped up their crackdown on cryptocurrency with prison terms announced on Feb. 24. According to a statement by China's Supreme People's Court, those who illegally try to raise funds through token sales from the public could face jail times ranging from less than 3 to over 10 ...

China’s financial market sends out 3 red flags to foreign investors

Economy 02/09/22, 21:46

According to Chinese-language media Da Ji Yuan, the Chinese regime has liberalized finance to attract foreign investment in recent years. According to official data from the Chinese government, the cumulative net increase in foreign holdings of domestic bonds and stocks surpassed U.S. $700 billion from 2018 to 2021, representing a ...

Home trade volume in 29 leading Chinese cities drops by 46%

Economy 02/06/22, 16:17

According to a recent market research survey, China's embattled property market had cooled further in the first month of 2022.  Data released by the CRIC Research Center on Feb. 1 showed that as of last month, 29 leading cities in China were seeing a year-on-year decrease of 46% in the transaction ...

China urges state-owned builders to buy insolvent debts from real estate firms

China 01/08/22, 15:40

The Chinese Communist Party (CCP) will ease debt rules to facilitate state-owned property developers to buy up assets of indebted private peers facing a liquidity issue. According to Reuters, the Chinese authorities have urged state-owned builders to examine the assets of private firms experiencing liquidity problems as an increasing number of ...

7 economic potholes loom before the end of the year for Xi Jinping

China 12/14/21, 02:44

Recently, a statement appeared saying that the Xi Jinping administration "raised" a lot of gray rhinos. The information was widely circulated in mainstream media. "Grey rhino" is originally a metaphor that refers to the ignorance of obviously bad things that eventually causes significant crises. The Epoch Times reporter investigated China's economic ...

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