Chinese worry about their ability to repay home loans

Economy 05/22/22, 23:44

China's property market was the main driver of the world's second-largest economy. From the 1980s through 2020, the sector contributed 17% to 29% to the nation's GDP. However, due to the prolonged Covid-19 epidemic outbreak, the slump in China's GDP growth, compounded with repeated defaults by property giant Evergrande and others, ...

Apple seeks to increase production outside China: Report

Economy 05/22/22, 23:27

According to the Wall Street Journal (WSJ), Apple notified its contract manufacturers about plans to increase its production outside China. India and Vietnam, already sites of Apple's global production lines, are among the favored locations for the company. The WSJ reported that Apple makes 90% of its products like the iPhone, iPad, ...

Beijing ‘grows’ crops, potatoes on cement floors and basketball courts

Insights 05/22/22, 10:24

Several clips showing many areas across China growing crops, potatoes on cement floors or even on basketball courts have recently widely circulated on the Internet. China has long been infamous for fake products or fabricated certificates, now comes the false ‘crops.’ The local authorities have recently built false ‘fields’ as a pretending ...

Chaos in China: Protests grow in many places and different fields

Human Rights 05/22/22, 10:21

The Chinese government is facing mass protests from all walks of life and in different cities. In the social field A video from the Meijingdongfang Community of Zhouzhuang, Chaoyang District, Beijing leaked on social media. On May 10, the authorities wanted to lock down the whole area, which led to a wide ...

More and more China’s upper and middle class want to emigrate

Human Rights 05/22/22, 10:14

According to observers, after China advocated its common prosperity policy, many rich people fled the country. But it is worth noting that lately there are many middle-class people who want to leave China as quickly as possible. According to the United Nations Migration Program's World Migration Report 2022, there were about ...

China’s HNA Technology lays off 99.8% of its employees in one year

Insights 05/22/22, 10:11

Many Chinese listed companies have cut tens of thousands of jobs to lower operating costs. Among them, HNA Technology has the highest reduction in employees. HNA Technology was known for its purchase of U.S. electronic distributor Ingram Micro Inc. According to Newtalk, HNA Technology laid off 99.82% of its total employees in ...

Xiaomi posts disappointing first-quarter result as China’s Covid measures hit

Economy 05/22/22, 04:13

Xiaomi posted its record low first-quarter revenue as China's covid measures across the nation and disrupted supply chain hit the company. According to Reuters, the company's revenue in the quarter fell to 10.85 billion dollars from 11.38 billion dollars a year earlier and below analyst expectations of 11 billion dollars. Xiaomi shipped ...

Xiaomi posts disappointing first-quarter result as China’s Covid measures hit

Economy 05/21/22, 04:34

Xiaomi posted its record low first-quarter revenue as China's covid measures across the nation and disrupted supply chain hit the company. According to Reuters, the company's revenue in the quarter fell to 10.85 billion dollars from 11.38 billion dollars a year earlier and below analyst expectations of 11 billion dollars. Xiaomi shipped ...

Shanghai eases lockdowns, waterways shipping struggle to revive

Economy 05/21/22, 04:27

Shanghai has said it would gradually reopen after weeks of city closure, but large shipping companies say it does not mean the global supply could recover instantly. As Bloomberg reported on May 18, Jeremy Nixon, Ocean Network Express's chief executive officer, said that a backlog of 130 ships has formed off ...

China hurrying to support market, but real estate firms still trembling

Economy 05/20/22, 09:38

China’s central bank worries about the downturn in the property market. A few days ago, it decided to cut mortgage rates. But real estate companies are still facing a lot of challenges. Data from Sino-Singapore Jingwei site reveals the current state of China's real estate industry. The data shows that more than ...

Fear of sanctions, China should improve security of overseas assets: expert

Economy 05/20/22, 05:13

According to Xinhua Finance, the 2022 Tsinghua PBCSF Chief Economist Forum was held online on May 14. It brought many top global economic and financial experts together to discuss the worldwide economy and order during the turbulent 2022. Among them, Yu Yongding, researcher and doctoral supervisor of the Institute of World ...

China’s economic downturn this time is different

Economy 05/20/22, 04:45

The Wall Street Journal published an analysis, stressing that China's authorities have no clear plan to turn things around amid April's economic distressing data. When its zero-Covid policy implementation shrinks the economy, the Chinese regime lacks an explicit and foreseeable path to handle the downturn. On Monday, China just released its ...

China’ land revenue dropped 38% in April amid lockdown concern

Economy 05/20/22, 03:36

Latest news indicates that China’s zero-Covid strategy is taking a toll on the economy. Citing data from China’s Finance Ministry, Nikkei reported that its land revenue dropped 38% year-on-year in April. This is the largest decrease in over six and a half years. Housing sales also fell more than 40% year-on-year in ...

China’s Zero-Covid hurt e-commerce, JD.com reports heavy losses

Economy 05/20/22, 02:24

China’s strict Covid-19 lockdowns have severely impacted the country’s e-commerce through disrupted logistics and dampened demand. On May 17, JD.com, a leading supply chain-based technology and service provider, announced its unaudited financial results for March 31, 2022. The company reported a net loss to ordinary shareholders for the first quarter of 2022 ...