Chinese Economics Thread

[Wrought]

Rare to see this kind of insight in mainstream news.

Xi’s strategic aims have not changed. He wants to shift capital from the property sector into technology-intensive manufacturing, which he sees as the basis of China’s future prosperity and power. Long-term economic growth, he believes, is driven by investment in technology, which will eventually generate high-wage jobs and rising incomes. China’s core task is not to maximise GDP growth but to create a self-sufficient, technologically powerful economy immune to efforts by the US to stunt its rise. This programme is cogent as a national strategy, but unfriendly to financial investors. The emphasis on investment means that supply will always run ahead of demand, leading to deflationary pressure, which is bad for corporate profits.

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[supercat]

China's service industry did well in the first 8 months, up 14.3% year on year in trade.

https://twitter.com/i/web/status/1844560004763803912

 

[Michaelsinodef]

The fundamental shift that has been happening under Xi Jinping.

(it's great that it did happen, and also why finance/private capital has been crying so much, whether foreign or even domestic).

https://twitter.com/i/web/status/1845351240735342902

 

[Quan8410]

Rare to see this kind of insight in mainstream news.

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Should stop setting any gdp growth from now on. For an economy size of China, growing 3.x-4.x% is not too bad when the West is heading to economic collapse and China can grow at that pace organically without any stimulus. Setting something like 5% growth every year is just creating unnecessary pressure.

 

[supercat]

In the first 3 quarters of 2024, China's foreign trade (export and import) went up 5.3%, to a record amount of $4.57 trillion.

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[zbb]

In the first 3 quarters of 2024, China's foreign trade (export and import) went up 5.3%, to a record amount of $4.57 trillion.

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Western MSM: But imports grew by only 4.1%? China collapse confirmed!

In the meantime, the country's exports surged 6.2 percent on a yearly basis to 18.62 trillion yuan and imports rose 4.1 percent year-on-year to 13.71 trillion yuan.
...
Speaking at a news conference in Beijing, Wang said that China's structure of exported products has been optimized and exports of high-tech equipment jumped over 40 percent year-on-year between January and September.

 

[doggydogdo]

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It's good that they are enforcing this now, it will help with capital flight and help strengthen RMB plus government get more tax income.

 

[Overbom]

fair. investing overseas, you most likely invest in your enemy, so it's only fair that the gov slaps a tax on you.

tbh should had been done a long time ago. if they think the grass is greener on the other side then you better pay up

 

[proelite]

fair. investing overseas, you most likely invest in your enemy, so it's only fair that the gov slaps a tax on you.

tbh should had been done a long time ago. if they think the grass is greener on the other side then you better pay up

Also pretty sure I get taxed on overseas investment on my 1092 misc + int.

 

[SinoSoldier]

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It's good that they are enforcing this now, it will help with capital flight and help strengthen RMB plus government get more tax income.

So, instead of moving some of their money offshore, wealthy citizens (you know, the ones who actually contribute to the economy) now have the incentive to close up shop and move themselves and the entirety of their assets overseas.

Congratulations, that is exactly how you have an exodus of 1.2 million affluent citizens underway.