Chinese Economics Thread

Strangelove

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BEIJING -- China's food industry reported steady expansion in terms of production and sales in 2021, data from the National Development and Reform Commission showed.

The value-added industrial output of the agricultural and sideline food processing sector rose 7.7 percent year-on-year, while that of the food manufacturing sector climbed 8 percent year-on-year, the commission said.

Last year, the sector of wine, beverage and refined tea manufacturing saw its industrial added value increase by 10.6 percent over the previous year.

Retail sales of grain, oil and food topped 1.68 trillion yuan ($263.9 billion), up 10.8 percent year-on-year, while those of beverage and alcohol and tobacco surged 20.4 percent and 21.2 percent, respectively.

In the first 10 months of 2021, food enterprises with annual operating revenue of at least 20 million yuan raked in profits of 475.7 billion yuan, up 4 percent year-on-year.


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BEIJING -- China's major dairy producers registered robust growth in output last year, official data shows.

In 2021, major dairy producers saw their output rise 9.4 percent year-on-year to nearly 30.32 million metric tons, according to data from the Ministry of Industry and Information Technology.

In December alone, dairy production stood at 2.81 million tons, increasing by 11.8 percent year-on-year, the figures show.

Major dairy producers are companies with annual revenue of more than 20 million yuan ($3.16 million).
 

ansy1968

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BEIJING -- China's food industry reported steady expansion in terms of production and sales in 2021, data from the National Development and Reform Commission showed.

The value-added industrial output of the agricultural and sideline food processing sector rose 7.7 percent year-on-year, while that of the food manufacturing sector climbed 8 percent year-on-year, the commission said.

Last year, the sector of wine, beverage and refined tea manufacturing saw its industrial added value increase by 10.6 percent over the previous year.

Retail sales of grain, oil and food topped 1.68 trillion yuan ($263.9 billion), up 10.8 percent year-on-year, while those of beverage and alcohol and tobacco surged 20.4 percent and 21.2 percent, respectively.

In the first 10 months of 2021, food enterprises with annual operating revenue of at least 20 million yuan raked in profits of 475.7 billion yuan, up 4 percent year-on-year.


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BEIJING -- China's major dairy producers registered robust growth in output last year, official data shows.

In 2021, major dairy producers saw their output rise 9.4 percent year-on-year to nearly 30.32 million metric tons, according to data from the Ministry of Industry and Information Technology.

In December alone, dairy production stood at 2.81 million tons, increasing by 11.8 percent year-on-year, the figures show.

Major dairy producers are companies with annual revenue of more than 20 million yuan ($3.16 million).
@Strangelove bro China is home to number 1 and 2 largest cattle farm in the world, 1) Mudanjiang City Mega Farm and 2) Modern Dairy Anhui.

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LARGEST Cattle Farms Around The World RANKED! Welcome back to Down On The Farm, today on the channel we are going to ...
 

Strangelove

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@Strangelove bro China is home to number 1 and 2 largest cattle farm in the world, 1) Mudanjiang City Mega Farm and 2) Modern Dairy Anhui.

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LARGEST Cattle Farms Around The World RANKED! Welcome back to Down On The Farm, today on the channel we are going to ...

Our water tech and engineering are now developed and scaled up.
 

Strangelove

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More increases coming...

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Russia-China trade turnover up almost 40% in two months​

It climbed over $26 billion in January-February 2022

Mutual trade between Russia and China in the first two months of 2022 increased by 38.5% year-on-year, according to statistics released on Monday by China’s customs administration.

Trade turnover in January-February reached $26.43 billion.

Russian exports to China jumped by 35.8% over the period to $13.8 billion, while Russia imported $12.6 billion worth of goods and services from China, an annual growth of 41.5%.

Last year, Russian-Chinese trade peaked at a record high of over $148.8 billion, up 35.8% compared to 2020, when it dropped by 2.9% due to the Covid-19 pandemic.
Overall, China’s trade surplus reached $59.77 billion in the first two months of 2022, up 16.5% compared to the same period in 2021.

Despite the increasingly complex and unpredictable external factors, the situation in China’s foreign trade is still stable. This is primarily due to the flexibility of the Chinese economy. In general, in the long term, the positive trend remains unchanged,” Chinese customs official Li Kuiwen said, commenting on the newly-released data.

Russia’s positive balance in January-February reached $1.19 billion, up 26.3% annually.

Following last year’s positive results, Chinese President Xi Jinping forecast that trade turnover between Russia and China may soon reach $250 billion. Experts say this threshold could be reached in 2026. Among the main areas that will contribute to the growth of trade between the two countries, analysts list Russian oil and gas exports, non-ferrous metals, and agricultural goods. Last month, China
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all restrictions on Russian wheat imports, and is now free to buy wheat from any Russian region.
 
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Russian banks switch to Chinese UnionPay​

Move supposed to soften effect on Russian card holders due to Visa and MasterCard withdrawal

On Sunday, several Russian banks announced plans to start issuing cards using the Chinese UnionPay card operator system.
The step, which came shortly after Mastercard and Visa pledged to cease operations in Russia and disconnect all the country’s banks from their payment systems, will enable the holders of new cards to use them for paying and withdrawing cash abroad.

On Saturday, international financial service providers Visa and Mastercard said they would suspend operations in Russia within the next several days due to the latest Western sanctions related to Moscow’s ongoing war in Ukraine. The drastic step makes the use of cards issued in Russia outside the country implausible. Likewise, cards that were issued outside of Russia will stop working in Russia.

Visa and Mastercard are the latest international brands taking harsh moves towards Russia over the Ukrainian conflict. Earlier, companies such as PayPal, Netflix, Intel, Inditex, Airbnb and Rolls Royce announced they were leaving the country’s market.

Russian banks, including Sberbank, Russia’s biggest lender, as well as Alfa Bank and Tinkoff issued announcements regarding the switch to UnionPay due to the latest developments. Some of Russia’s banks, like Pochta Bank, Gazprombank, Promsvyazbank, Sovcombank and several other minor banks had been previously working with the UnionPay card operator’s system.

UnionPay, an international payment system founded in 2002, received international status in 2005. Headquartered in Shanghai, the company reportedly operates in more than 180 countries across the globe, including Switzerland, Greece, Italy, Spain, Germany, Mexico, Cyprus, Thailand, India, Israel, Portugal, Croatia, Poland, Serbia, Hungary and Austria.
Sberbank is the second largest issuer of credit and debit cards in Europe with 268 billion USD purchase. Big win for UnionPay since VISA + mastercard cannot be trusted to fulfill their commitments to customer.


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HeiTangSeng

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Sberbank is the second largest issuer of credit and debit cards in Europe with 268 billion USD purchase. Big win for UnionPay since VISA + mastercard cannot be trusted to fulfill their commitments to customer.


View attachment 84694

The immediate benefit of linking UnionPay to Russian banks is to allow them to reconnect to the international interbank clearing networks, albeit much weaker than Visa/MC. It appears to be a plan B for Russian businesses to conduct some smaller transactions through Unionpay accounts worldwide. But this activity is also subject to sanction in EU/USA/Japan/SK/etc.

I may be misinformed, but I've heard that UnionPay's big advantage is the much cheaper transaction cost for merchants and banks within its network, compared to VISA/MC, like less than 10%. So much so that it makes 1 fen(cent) transactions possible. That's why you see so many micro-transaction based online businesses in China. Not sure that feature is useful for the Russians.

In the Long term, reality will force Russians to overcome their reluctance to adopt Chinese standards and technology, which is an unexpected windfall for China.
 

sndef888

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The immediate benefit of linking UnionPay to Russian banks is to allow them to reconnect to the international interbank clearing networks, albeit much weaker than Visa/MC. It appears to be a plan B for Russian businesses to conduct some smaller transactions through Unionpay accounts worldwide. But this activity is also subject to sanction in EU/USA/Japan/SK/etc.

I may be misinformed, but I've heard that UnionPay's big advantage is the much cheaper transaction cost for merchants and banks within its network, compared to VISA/MC, like less than 10%. So much so that it makes 1 fen(cent) transactions possible. That's why you see so many micro-transaction based online businesses in China. Not sure that feature is useful for the Russians.

In the Long term, reality will force Russians to overcome their reluctance to adopt Chinese standards and technology, which is an unexpected windfall for China.
Wouldn't the western countries just force Unionpay to give up its operations in russia or get banned?
 

HeiTangSeng

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Wouldn't the western countries just force Unionpay to give up its operations in russia or get banned?

That's why I think Unionpay is only useful for Russian small businesses and individuals.

And the West understands that sanctioning Unionpay is a declaration of financial WW3. Are they ready to cut off the number 1 trading nation in the world and beg China to just take care of all loose ends like Taiwan right now?
 

NiuBiDaRen

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@Strangelove bro China is home to number 1 and 2 largest cattle farm in the world, 1) Mudanjiang City Mega Farm and 2) Modern Dairy Anhui.

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LARGEST Cattle Farms Around The World RANKED! Welcome back to Down On The Farm, today on the channel we are going to ...
What about @B.I.B.'s cow farm in NZ?
 
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