China Economy: News & Discussion

[Butter Chicken]

 

[rockdog]

China produced & sold 57% EV of world in 1st half 2022.

4.2 mn EVs sold in first half of 2022 globally, China leads: Report

4.2 mn EVs sold in first half of 2022 globally, China leads: Report

The world saw sales of 4.2 million electric vehicles in the first half of this year, a 63 per cent growth from the same period last year, a new report has shown.

www.business-standard.com

In 2022 July, BYD outpaced Tesla as biggest EV vendor, with USD26,000/average. 8 of top20 makers are from Chinese brands.

 

[rockdog]

BASF will invest up to €10 billion by 2030 to build the new Verbund site.

Somebody said last 30 years，Germany moved 50% of its totally industry capability to China!
This is the key Germany always had advantages over the EU.

BASF gives final approval for the construction of the Zhanjiang Verbund site

BASF SE today gave final approval for the construction of the planned Verbund site in Zhanjiang in the southern Chinese province of Guangdong. The project is on schedule. The focus will now be on building the core of the Verbund, which includes a steam cracker and several downstream plants for...

www.basf.com

 

[Shuturmurg]

Top CCP Scientist Diagnoses China's STEM Ills

"We lack strategic scientists and top technicians, training for young talent, and a reserve of outstanding engineers."

www.chinatalk.media

 

[nongaddarliberal]

As far as China is concerned, there are only 2 figures I pay attention to. Their:
1)exports
2) forex reserves.

As long as both of these are increasing or at least stable, they can keep their economy running regardless of the internal debt. Things like bank runs and fraudulent companies have been there in China even in its high growth years. It's nothing new. The CCP maintains complete control over the internal economy, and as far as they're concerned, their internal debt and currency is just monopoly money. What they need is dollars, which will keep coming in as long as they maintain their exports. Even after all the mess of covid, the Chinese have managed to keep growing their exports, including to India. All this talk of de-coupling is showing no real results when it comes to hard numbers.

The only wrench in the system is Xi Jinping's bizarre zero covid policy which is grinding their cities to a halt, and having significant economic consequences. It makes no economic or even public health sense. If they keep going at it, then yes, there can be real economic slowdown which might lead to lower exports. Otherwise, they'll keep growing.

 

[SexyChineseLady]

Despite all the anti-Chinese bans in the Western world (and India), China had been capturung market share in almost every sector both in the high and low end of technology.

China's dominance of manufacturing is growing, not shrinking

Country gaining market share in both low- and high-tech sectors

asia.nikkei.com

 

[SexyChineseLady]

As far as China is concerned, there are only 2 figures I pay attention to. Their:
1)exports
2) forex reserves.

As long as both of these are increasing or at least stable, they can keep their economy running regardless of the internal debt. Things like bank runs and fraudulent companies have been there in China even in its high growth years. It's nothing new. The CCP maintains complete control over the internal economy, and as far as they're concerned, their internal debt and currency is just monopoly money. What they need is dollars, which will keep coming in as long as they maintain their exports. Even after all the mess of covid, the Chinese have managed to keep growing their exports, including to India. All this talk of de-coupling is showing no real results when it comes to hard numbers.

The only wrench in the system is Xi Jinping's bizarre zero covid policy which is grinding their cities to a halt, and having significant economic consequences. It makes no economic or even public health sense. If they keep going at it, then yes, there can be real economic slowdown which might lead to lower exports. Otherwise, they'll keep growing.

I agree with you that Xi's adherence to zero covid is bizarre but the impact is far less than what media in the West makes it out to be.

You can see this in the Chinese box office. There was a $400M blockbuster called "Moon Man" this summer while Lightchaser's latest animated movie "Yang Jian" will gross just as much as the company's "White Snake" release in 2019 before Covid.

If the restrictions were particularly bad, entertainment would have been hit first and hardest.

 

[nongaddarliberal]

I agree with you that Xi's adherence to zero covid is bizarre but the impact is far less than what media in the West makes it out to be.

You can see this in the Chinese box office. There was a $400M blockbuster called "Moon Man" this summer while Lightchaser's latest animated movie "Yang Jian" will gross just as much as the company's "White Snake" release in 2019 before Covid.

If the restrictions were particularly bad, entertainment would have been hit first and hardest.

Not all cities are hit uniformly. They are locking down 1 or 2 cities at a time, which still has significant impact. It's hitting key parts of the Chinese supply chain.

 

[NutCracker]

I agree with you that Xi's adherence to zero covid is bizarre but the impact is far less than what media in the West makes it out to be.

You can see this in the Chinese box office. There was a $400M blockbuster called "Moon Man" this summer while Lightchaser's latest animated movie "Yang Jian" will gross just as much as the company's "White Snake" release in 2019 before Covid.

If the restrictions were particularly bad, entertainment would have been hit first and hardest.

I don't think those two movies are comparable .

Animation movies get below average collection across the world and if 2022 movie equals its record after 3 years including inflation in ticket price , then i think yes lockdown has its effect.

 

[rockdog]

I agree with you that Xi's adherence to zero covid is bizarre but the impact is far less than what media in the West makes it out to be.

You can see this in the Chinese box office. There was a $400M blockbuster called "Moon Man" this summer while Lightchaser's latest animated movie "Yang Jian" will gross just as much as the company's "White Snake" release in 2019 before Covid.

If the restrictions were particularly bad, entertainment would have been hit first and hardest.

I was 200% against Xi's Zero Covid policy, it destroyed lots of small business.

But i heard another theory，that China is the only nation to maintain the full supply chain capabilities after breakout of covid.

In 2020 the EU down，first half of 2021 the India down. The Long Covid made USA still lack of labor force on millions level. Plus the Russia Ukraine war made lots of firms in Europe bankrupted because of inflation.

So till now China seems the only nation would provide full manufacture capability. The result as you see the export and surplus hit record high.

So now i m little confused that is there any perfect solution.

 

[SexyChineseLady]

I don't think those two movies are comparable .

Animation movies get below average collection across the world and if 2022 movie equals its record after 3 years including inflation in ticket price , then i think yes lockdown has its effect.

Not sure what you mean by compatible. The analysis is that if the impact of the lockdown were exceptionally severe then we would not see a film making $430M and an animation company matching its hit from 2019 since entertainment is discretionary spending and is composed of crowd events that gets dropped first in any kind of lockdown.

Obviously there is an impact but it had not driven the box office to near zero like it was in the winter of 2020.

There are other signs that the lockdowns are far less stringent than what they are made out to be:

China's Aug auto sales jump 32% with strong EV demand

China's auto sales reached 2.38 million units in August, increasing 32.1% from a year ago, as they extended a recovery led by electric vehicles (EV) whose sales have been boosted by government incentives.

www.reuters.com

The biggest evidence to less impactful lockdowns is this: if the lockdowns were severe then China's exports would drop not expand especially when the rest of the world is supposedly out of lockdown and should be taking market share from anyone unable to meet demand.

 

[NutCracker]

Not sure what you mean by compatible.

I said comparable.

Animation movies already don't earn much on an average.
And here you are comparing 2020 revenue of animated movie with revenue of movie with famous starcast in 2022.

 

[SexyChineseLady]

I said comparable.

Animation movies already don't earn much on an average.
And here you are comparing 2020 revenue of animated movie with revenue of movie with famous starcast in 2022.

Ooops, comparable.

But still ???

I am comparing the pre-pandemic 2019 box office of a Lightchaser animation film to its 2022 release. If the lockdowns were severe then the studio's 2022 film would be far lower than the one in 2019. It is not, they are about the same.

I just pointed out there would be no $430M box office for "Moon Man" if the lockdowns were severe like they were in the first half of 2020. Moon Man is a run of the mill comedy. The $217M "Lighting Up the Stars" hit right before "Moon Man" was a low budget tear jerker.

 

[rockdog]

Suzhou topping the world’s largest industrial cities in 2021

Suzhou topping the world's largest industrial cities in 2021

Suzhou is an important industrial city in China, a national high-tech industrial base, China's third-largest export city, and the second-largest central city

qwares.com

Suzhou’s industry exceeds RMB 4 trillion this year, topping the list of the world’s largest industrial cities.


Suzhou is an important industrial city in China, a national high-tech industrial base, China’s third-largest export city, and the second-largest central city in the Yangtze River Delta. On December 29, 2021, the official account of Suzhou City officially announced that Suzhou industry finally exceeded 4 trillion RMB this year, and the scale also officially surpassed Shanghai and Shenzhen for the whole year, officially crowning it the world’s No. 1 industrial city. 2021 The first three quarters of Suzhou industrial-scale grew 20.5%, Shanghai grew 15.2%, and Shenzhen industrial added value grew 4.8%, as Suzhou industrial growth rate is much higher than Shanghai Shenzhen, the industrial-scale exceeded Shanghai, and this is the first time in recent years that Suzhou’s total industrial output value exceeded Shenzhen and Shanghai for the whole year.

What is the concept of 4 trillion RMB? It is equivalent to 2 times of the industry of Beijing, the first industrial city in North China, twice of the industry of Guangzhou, the second-largest industrial city in South China, and more than 6 times of the industry of Xi’an. Suzhou has established a large, advanced and perfect industrial system for the motherland. Because of Suzhou’s large industrial system, advanced technology, and good economic foundation, the country has given Suzhou eight dividends this year, strongly supporting the development of Suzhou’s advanced manufacturing and high-tech industries.

After more than 40 years of reform and opening up, Suzhou has been at the world-leading level in nanotechnology, biomedicine, high-end textile, U-Tech steel and communication technology, and at the top level in Asia in artificial intelligence, semiconductor manufacturing, blockchain and aviation manufacturing. Suzhou has 23 of the top 500 private manufacturing companies in the country, the second-largest number in the country, and has the largest number of top 100 advanced manufacturing parks in the country. It is worth mentioning that the number of newly listed companies on the science and technology board in 2021 is the first in the country, which shows how strong Suzhou’s technological strength is.


In the last decade, Suzhou has paid special attention to the development of advanced manufacturing, new industries and high technology, vigorously developing advanced manufacturing industries such as biomedicine, artificial intelligence, integrated circuits, and aviation manufacturing. Suzhou’s biomedical industry has been the first in the country for many years.


This year, the state also clearly supports the development of high-tech industries such as biomedicine, semiconductor manufacturing, artificial intelligence and blockchain in Suzhou.

 

[lcafanboy]

China Maal....

Bloody the Entire building is burning. What type of building materials was used.??

Card Boards and Plastics....

Why I have a feeling entire Chinese economy will be burning like this in a few months or years . ..

 

[Star screamer]

Top Banks Pull Back From China Metal Financing After Crises

JPMorgan Chase & Co. and ICBC Standard Bank Plc are cutting back on financing to China’s troubled metals trade, adding pressure to a sector already hit hard by a struggling economy.

www.bloomberg.com

Oil Refineries In China Struggle With Outages And Weak Demand | OilPrice.com

China’s refinery output remained near two-year lows in August, with outages and weak demand keeping refinery runs low

oilprice.com

 

[NutCracker]

China Maal....

Bloody the Entire building is burning. What type of building materials was used.??

Card Boards and Plastics....

Why I have a feeling entire Chinese economy will be burning like this in a few months or years . ..

NGL It shone like a bright star during its end of growth. It's coming down now.

Local cooperative banks Looted its own farmer population. Population losing trust on its own banking system, crumbling real estate because no one is buying flats anymore , can't create loss making high speed railways anymore.

Only beacon of hope is military industrial complex and export.

 

[lcafanboy]

China Telecom investigates fire in Changsha building; no casualties reported - Global Times

www.globaltimes.cn

China Telecom investigates fire in Changsha building; no casualties reported

0 casualties..... LMAO...

The fire started from lower floor and went up in a few minutes and CCP liars saying no casualties reported.

Either the building was empty and was burnt to claim insurance money or Chinese are simply lying....

 

[rockdog]

China Maal....

Bloody the Entire building is burning. What type of building materials was used.??

Card Boards and Plastics....

Why I have a feeling entire Chinese economy will be burning like this in a few months or years . ..

It's mostly the surface material caught on fire，internal damage was not serious.

Btw， India is burning more dollar importing from China. With help from India，China will be OK。

 

[rockdog]

both contents and comments are excellent.