Chinese Economics Thread

[Overbom]

Any ideas on what could have caused the increase in unemployment before the Shanghai lockdown?

I dont know. That's why I said it is strange. The only thing that comes to mind is that due to repeated lockdowns the SMEs have been damaged so much that they can't keep the current number of employees.
For example, if due to lockdowns your business revenue is (let's say) down 10%, and you have low profit margins, it is advisable that the business owner reduce the employee head count in order to maintain profitability.


This could also be why some economists some months ago were talking about giving consumption vouchers so that money could circulate and boost the SMEs.

---

In any case, there is a clear trend in the past months that unemployment is rising in urban areas. I wouldn't be ringing the alarm bells until the June data come out. If the May and June data still show a worsening condition then imo something drastic needs to be done

 

[Strangelove]

Xinjiang... genociding itself to 7% economic growth.

Please, Log in or Register to view URLs content!

Xinjiang set for more growth​

By CUI JIA | CHINA DAILY | Updated: 2022-05-16 07:08

Dai Wenyi, manager of Gangzhisheng Steel Structure Co, which is based in the regional capital of Urumqi, said that he has been in a good mood since the Spring Festival holiday in February, because he has noticed the government's fresh efforts to improve the business environment and take care of local businesspeople.

"I can feel many obvious changes in Xinjiang. The measures of epidemic control and maintaining stability haven't been loosened, but they are optimized to make people's lives more convenient. Also, when local industrial and commercial administrators visit my company, they always ask about our needs and difficulties, besides conducting inspections, so they can better serve us," Dai said.

He added that many security and epidemic control check points along the highways have been integrated, making commuting and logistics in the region safer.

"The changes are small but noticeable. What's more, they have sent out strong signals that the region is making some adjustments to embrace a new development phase," Dai said. "I believe potential investors and businesspeople can all sense that."

According to the Statistics Bureau of Xinjiang, the region achieved GDP growth of 7 percent in the first quarter of this year－the highest among all the 31 provincial-level regions on the Chinese mainland.

A worker assembles farming equipment at a factory in the Urumqi Economic and Technological Development Zone (Toutunhe District) in Northwest China's Xinjiang Uygur autonomous region, on Jan 8, 2022.


During the 14th Five-Year Plan (2021-25) period, 11 centrally administered State-owned enterprises plan to carry out 38 investment projects in Xinjiang. The total investment is expected to reach 611.7 billion yuan ($90.1 billion), according to cooperation agreements that the regional government signed with the SOEs in March.

In addition, according to the Department of Commerce of Xinjiang, during the first quarter of the year, the region attracted more than 57.97 billion yuan of investment from outside the region－an increase of more than 51 percent year-on-year. More than 80 percent of the investments were from the private sector.

 

[56860]

Xinjiang... genociding itself to 7% economic growth.

Please, Log in or Register to view URLs content!

Xinjiang set for more growth​

By CUI JIA | CHINA DAILY | Updated: 2022-05-16 07:08

Dai Wenyi, manager of Gangzhisheng Steel Structure Co, which is based in the regional capital of Urumqi, said that he has been in a good mood since the Spring Festival holiday in February, because he has noticed the government's fresh efforts to improve the business environment and take care of local businesspeople.

"I can feel many obvious changes in Xinjiang. The measures of epidemic control and maintaining stability haven't been loosened, but they are optimized to make people's lives more convenient. Also, when local industrial and commercial administrators visit my company, they always ask about our needs and difficulties, besides conducting inspections, so they can better serve us," Dai said.

He added that many security and epidemic control check points along the highways have been integrated, making commuting and logistics in the region safer.

"The changes are small but noticeable. What's more, they have sent out strong signals that the region is making some adjustments to embrace a new development phase," Dai said. "I believe potential investors and businesspeople can all sense that."

According to the Statistics Bureau of Xinjiang, the region achieved GDP growth of 7 percent in the first quarter of this year－the highest among all the 31 provincial-level regions on the Chinese mainland.

A worker assembles farming equipment at a factory in the Urumqi Economic and Technological Development Zone (Toutunhe District) in Northwest China's Xinjiang Uygur autonomous region, on Jan 8, 2022.


During the 14th Five-Year Plan (2021-25) period, 11 centrally administered State-owned enterprises plan to carry out 38 investment projects in Xinjiang. The total investment is expected to reach 611.7 billion yuan ($90.1 billion), according to cooperation agreements that the regional government signed with the SOEs in March.

In addition, according to the Department of Commerce of Xinjiang, during the first quarter of the year, the region attracted more than 57.97 billion yuan of investment from outside the region－an increase of more than 51 percent year-on-year. More than 80 percent of the investments were from the private sector.

Collapsing upward is another way to put it

 

[Andy1974]

Xinjiang... genociding itself to 7% economic growth.

Please, Log in or Register to view URLs content!

Xinjiang set for more growth​

By CUI JIA | CHINA DAILY | Updated: 2022-05-16 07:08

Dai Wenyi, manager of Gangzhisheng Steel Structure Co, which is based in the regional capital of Urumqi, said that he has been in a good mood since the Spring Festival holiday in February, because he has noticed the government's fresh efforts to improve the business environment and take care of local businesspeople.

"I can feel many obvious changes in Xinjiang. The measures of epidemic control and maintaining stability haven't been loosened, but they are optimized to make people's lives more convenient. Also, when local industrial and commercial administrators visit my company, they always ask about our needs and difficulties, besides conducting inspections, so they can better serve us," Dai said.

He added that many security and epidemic control check points along the highways have been integrated, making commuting and logistics in the region safer.

"The changes are small but noticeable. What's more, they have sent out strong signals that the region is making some adjustments to embrace a new development phase," Dai said. "I believe potential investors and businesspeople can all sense that."

According to the Statistics Bureau of Xinjiang, the region achieved GDP growth of 7 percent in the first quarter of this year－the highest among all the 31 provincial-level regions on the Chinese mainland.

A worker assembles farming equipment at a factory in the Urumqi Economic and Technological Development Zone (Toutunhe District) in Northwest China's Xinjiang Uygur autonomous region, on Jan 8, 2022.


During the 14th Five-Year Plan (2021-25) period, 11 centrally administered State-owned enterprises plan to carry out 38 investment projects in Xinjiang. The total investment is expected to reach 611.7 billion yuan ($90.1 billion), according to cooperation agreements that the regional government signed with the SOEs in March.

In addition, according to the Department of Commerce of Xinjiang, during the first quarter of the year, the region attracted more than 57.97 billion yuan of investment from outside the region－an increase of more than 51 percent year-on-year. More than 80 percent of the investments were from the private sector.

Urumqi has over 4 million people, this is more than Los Angeles, and in the US only New York has a larger population.

It has the potential to be the best city in the Islamic world, I hope they turn it into a renowned center for moderate Islamic learning and studies as well as an Islamic model city which promotes its peaceful religion around the Islamic world.

I hope Islamic businesses and banks start inward investing in the renewables and other sectors and that other countries adopt successful social policies that Xinjiang trail-blazed.

As we often see, China turns what was once perceived as a negative, a liability, into a great strength.

 

[bajingan]

You know what China has that the US doesn't? It's the ability to adapt. The reason why the US is behind when it comes to EVs is because the dinosaurs of the US don't want to spend the money for change. That's why the US is having so much trouble when it comes to infrastructure. Partisan Americans don't want money being spent to build a bridge somewhere they won't be using. People who visit a city in China one year and then a year later go back again say everything is different from when they were there before. That's because China is willing to spend the money to adapt. The US will always be behind when it comes to telecom services because they're not willing to spend the money for the next generation of services. 4G coverage is lacking in many parts of the US. 5G towers have shorter coverage meaning they'll need even more. Do the math. You know why you won't see HSR crossing the US? It's because the US wasn't the first. They're waiting for the next big thing like hyperloop but that'll never happen because it'll cost them a fortune.

In some ways the us is resembling north korea, everything goes to the military, to hell with their own people

 

[Coalescence]

So last night, I've thinking how China can execute the consumption voucher strategy without suffering the same pitfall as US did with stimulus money, where the consumers ended up buying products from big companies instead of SMEs and putting it in investment assets like stocks, cryptocurrency and real estate, failing at fulfilling the objective of keeping SMEs alive.

I think this would be a good opportunity to promote the use of digital yuan and leverage its functions. Have SMEs register and create a new wallet for them, and create a new batch of digital yuan with an attribute that it can only be used to buy products or services from SMEs, then distribute that batch of digital yuan for the consumer to use. Those digital yuan SMEs receives can be and only be exchanged at government-owned banks for real yuan, and cannot be traded to other parties.

This would make sure that those stimulus will only benefit SMEs but still retain the same free market principle that roots out
uncompetitive and unprofitable SMEs. Other than that, here are some technical details I will list down to prevent fraud and promote its use.

• Collaborate with E-commerce platform, to make it easier for SMEs to reach out their consumer and streamline the process of payment using digital yuan.
• Ask citizens and volunteers to report any registered SMEs business that offers exchange services to convert those special digital yuan to real yuan, so that it won't be turned into money laundering.
• Create an investigation task force that would investigate from SMEs with the most accumulated digital yuan down to the least, to see whether they are offering money laundering services.
• Color code the special digital yuan so it will be easier for consumers to associate where they can use it and for the businesses to signal that they accept it as payments.
• If money laundering fraud is found, punish the business by revoking their digital wallet and make they pay for the damage, and also using one of the digital currency functions, punish the clients by deducting money from their bank balance or through tax.
• To prevent innocent clients from be wrongfully punished, setup an office to determine if they are innocent. If they are then the punishments will be reversed.

 

[luosifen]

Please, Log in or Register to view URLs content!

A total of 38 Chinese game publishers made their way onto the April list of the top 100 global mobile game publishers in terms of revenue, according to mobile app data analysis firm Sensor Tower.

Last month, the 38 Chinese game developers garnered over 2.3 billion U.S. dollars worldwide, taking up 41.8 percent of the total revenue generated by the top 100 firms on the Apple App Store and Google Play, data from Sensor Tower showed.

Tencent took the top spot among all Chinese game publishers for revenue generated during the period, followed by NetEase and miHoYo.

Let's see if they can get to over 50% revenue

 

[PopularScience]

Urumqi has over 4 million people, this is more than Los Angeles, and in the US only New York has a larger population.

It has the potential to be the best city in the Islamic world, I hope they turn it into a renowned center for moderate Islamic learning and studies as well as an Islamic model city which promotes its peaceful religion around the Islamic world.

I hope Islamic businesses and banks start inward investing in the renewables and other sectors and that other countries adopt successful social policies that Xinjiang trail-blazed.

As we often see, China turns what was once perceived as a negative, a liability, into a great strength.

Urumqi is 90% Han Chinese.

 

[56860]

Urumqi has over 4 million people, this is more than Los Angeles, and in the US only New York has a larger population.

It has the potential to be the best city in the Islamic world, I hope they turn it into a renowned center for moderate Islamic learning and studies as well as an Islamic model city which promotes its peaceful religion around the Islamic world.

I hope Islamic businesses and banks start inward investing in the renewables and other sectors and that other countries adopt successful social policies that Xinjiang trail-blazed.

As we often see, China turns what was once perceived as a negative, a liability, into a great strength.

I want Xinjiang to be the chipmaking capital of the world. Literally nothing would make westerners saltier.

 

[PopularScience]