Chinese Economics Thread

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Overbom

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Activity in China’s services sector contracted at its steepest pace since February 2020 in March as the impact of the latest wave of Covid-19 and the Russia-Ukraine war hit home, a Caixin-sponsored survey showed Wednesday.
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The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in the sector, fell to 42 in March from 50.2 the previous month, the survey report showed.
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A number above 50 indicates an expansion in activity, while a figure below that points to a contraction. The March reading marked the first contraction in seven months.
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bc-china-covid-outbreak-hits-spending-with-more-damage-to-come.jpg
 
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Overbom

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Overbom said:
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About 193 million people in the country are living in full or partial lockdowns, in regions that account for about 22% of China's GDP, Nomura's chief China economist Ting Lu estimated in a report Tuesday.
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Travel restrictions and lockdowns of districts or cities discouraged people from traveling over a holiday that officially ran from Sunday to Tuesday.
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And tourism spending by those who did venture out only recovered just over a third, or 39.2%, of the level seen during the holiday in 2019, according to the Ministry of Culture and Tourism.
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That's a far slower pace than during the Lunar New Year holiday earlier in the year, when tourism spending was 56.3% of what it was in 2019.
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Tourism revenue for the latest long weekend holiday dropped by 30.9% from the same period last year to 18.78 billion yuan ($2.93 billion), the ministry said. Tourist trips fell by 26.2% from the same period last year to 75.4 million, or 68% of the level prior to the pandemic, according to the data.
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The number of packages received and delivered during the holiday each fell by about 13% from a year ago, according to the State Post Bureau. It was not immediately clear whether logistics snags or consumer demand was the primary reason for the decline.
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manqiangrexue

manqiangrexue

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ThatNiceType055 said:
Just bought ANTA
View attachment 86591
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dengyeye said:
All my shirts are sourced from Xinjiang cotton.
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Crang said:
Recently ate Chinese caviar, Chinese unagi, and Chinese red wine cultivated in Ningxia Province.

Progress. Progress.
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80% of the stuff in my house is made in China, and that's true for everyone from me, a guy who buys made in China whenever possible, to the redneck who thinks China is the anti-Christ and tries to look for non-Chinese options whenever he shops. That's why the US can't do shit about its trade deficit with China.
 
LCR34

LCR34

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manqiangrexue said:
80% of the stuff in my house is made in China, and that's true for everyone from me, a guy who buys made in China whenever possible, to the redneck who thinks China is the anti-Christ and tries to look for non-Chinese options whenever he shops. That's why the US can't do shit about its trade deficit with China.
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My friend who owns more than 15k worth of Milwaukee stuff: these M18 tools are so good man, murican stuff ya know?
Me, after look at the battery labels etc: Oh, made in China.
But seriously, a lot of US brand stuff are either bought by Chinese companies, or manufactured in China.
 
56860

56860

Senior Member
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manqiangrexue said:
80% of the stuff in my house is made in China, and that's true for everyone from me, a guy who buys made in China whenever possible, to the redneck who thinks China is the anti-Christ and tries to look for non-Chinese options whenever he shops. That's why the US can't do shit about its trade deficit with China.
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It's easy to buy made in China. Way harder than avoiding it, which is impossible. I do not envy the r/boycottchina crowd. Story time. Walked past a group of Tibet independence drones on my way to university some weeks ago. One drone in particular was wearing a boycottchina shirt. I asked him how he did it. He said it wasn't easy, but every little bit makes a difference. I told him that I specifically avoid all local brands, and only buy Chinese products. He told me to go to hell. I said as long as he knew all his hard work was being cancelled out by me, going to hell would be okay.
 
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