Tbh, way overdue step, should have been implemented 2013 together with ending of 1 child policy and extracurricular education reform.
Chinese Economics Thread
- Thread starter Norfolk
- Start date
Maybe the rich Tier 1 cities could do it relatively easily. Rest of the country will struggle though, there is never enough money to invest in other more immediate priorities
Central Gov will have to step in (issuing more local gov bonds I guess)
Full story in the posted link below
An aerial drone photo taken on March 1, 2025 shows the cruise ship Europa 2 anchoring at a port in Qingdao, east China's Shandong Province. (Xinhua/Li Ziheng)
QINGDAO, March 4 (Xinhua) -- Tianjin and Qingdao, two major port cities in China, kicked off the new year with their first inbound international cruise ship of 2025 -- the Malta-registered Europa 2, a clear signal of the steady revival of China's cruise tourism industry.
The luxury liner, carrying hundreds of passengers from countries including Germany, Austria and Switzerland is on a global voyage. During its China leg, the tour group headed to major destinations including Xiamen, Shanghai and Tianjin.
After a brief stop in Qingdao in Shandong Province, east China, on March 1, the ship would head to Japan and the Republic of Korea, according to Kristina Jurgawka, a crew member aboard the ship.
Tourists from the cruise ship Europa 2 taste a local beverage at a port in Qingdao, east China's Shandong Province, March 1, 2025. (Xinhua/Li Ziheng)
An avid history enthusiast, she was deeply impressed by the Great Wall, a UNESCO World Heritage Site, and enchanted by the skyline of Shanghai. "I'm truly grateful for this once-in-a-lifetime experience," she said.
For German tourist Joachin Dopp, the ease of entry into China left the strongest impression. "It's simple to enter, no need for a visa or all those formalities. It's great that you can just enter the country and enjoy it [your trip]," he told Xinhua.
His experience reflects well on China's effort to rejuvenate the cruise tourism sector. In May last year, a policy was rolled out allowing visa-free entry for foreign tourist groups arriving on cruise ships at any of the country's cruise ports along the coastline.
With a coastline stretching 18,000 km, China has seen steady improvements in its port infrastructure. The country boasts abundant tourism resources and is experiencing rapid growth in the service industry, making it a major destination for international cruise liners.
Wang Hong, president of China Europe International Business School, said in a media interview that the visa-free entry policy for cruise passengers will bring unprecedented development opportunities to China's tourism and cruise industries. It is expected to attract more foreign visitors to choose cruises as a means of traveling to China, thereby boosting inbound tourism.
Industry leaders predict a strong rebound in international cruise tourism in China this year.
On Jan. 3, an international cruise ship carrying 456 passengers docked at Phoenix Island International Cruise Port in Sanya, a popular tropical destination. From 2006 to the end of 2024, the port handled over 1,600 cruise ship voyages and over 2 million passenger trips.
Days later, the Silver Dawn became the first international cruise ship to arrive in Shanghai this year, bringing over 400 tourists from more than 20 countries, including the United States, Britain, and Australia. During the eight-day Spring Festival holiday, the border inspection authorities in Shanghai reported 22 cruise ship entries and exits, with 72,000 cruise passenger trips.
Tang Ming, head of a Shanghai-based travel agency, noted that since February 2024, the market has steadily recovered. "We expect to see a 20 to 30 percent increase in international cruise tourists this year," he said.
Tourists from the cruise ship Europa 2 go through the customs at a port in Qingdao, east China's Shandong Province, March 1, 2025. (Xinhua/Li Ziheng)
Cruise ports in Qingdao are expected to receive over 40 cruise ship visits in 2025, twice the number recorded in 2024, according to the city's culture and tourism bureau. Meanwhile, Tianjin International Cruise Home Port is preparing for increased activities, with more than 40 inbound and outbound cruise ship visits anticipated at Dongjiang Port in the first quarter alone.
An aerial drone photo taken on March 1, 2025 shows the cruise ship Europa 2 anchoring at a port in Qingdao, east China's Shandong Province. (Xinhua/Li Ziheng)
QINGDAO, March 4 (Xinhua) -- Tianjin and Qingdao, two major port cities in China, kicked off the new year with their first inbound international cruise ship of 2025 -- the Malta-registered Europa 2, a clear signal of the steady revival of China's cruise tourism industry.
The luxury liner, carrying hundreds of passengers from countries including Germany, Austria and Switzerland is on a global voyage. During its China leg, the tour group headed to major destinations including Xiamen, Shanghai and Tianjin.
After a brief stop in Qingdao in Shandong Province, east China, on March 1, the ship would head to Japan and the Republic of Korea, according to Kristina Jurgawka, a crew member aboard the ship.
Tourists from the cruise ship Europa 2 taste a local beverage at a port in Qingdao, east China's Shandong Province, March 1, 2025. (Xinhua/Li Ziheng)
An avid history enthusiast, she was deeply impressed by the Great Wall, a UNESCO World Heritage Site, and enchanted by the skyline of Shanghai. "I'm truly grateful for this once-in-a-lifetime experience," she said.
For German tourist Joachin Dopp, the ease of entry into China left the strongest impression. "It's simple to enter, no need for a visa or all those formalities. It's great that you can just enter the country and enjoy it [your trip]," he told Xinhua.
His experience reflects well on China's effort to rejuvenate the cruise tourism sector. In May last year, a policy was rolled out allowing visa-free entry for foreign tourist groups arriving on cruise ships at any of the country's cruise ports along the coastline.
With a coastline stretching 18,000 km, China has seen steady improvements in its port infrastructure. The country boasts abundant tourism resources and is experiencing rapid growth in the service industry, making it a major destination for international cruise liners.
Wang Hong, president of China Europe International Business School, said in a media interview that the visa-free entry policy for cruise passengers will bring unprecedented development opportunities to China's tourism and cruise industries. It is expected to attract more foreign visitors to choose cruises as a means of traveling to China, thereby boosting inbound tourism.
Industry leaders predict a strong rebound in international cruise tourism in China this year.
On Jan. 3, an international cruise ship carrying 456 passengers docked at Phoenix Island International Cruise Port in Sanya, a popular tropical destination. From 2006 to the end of 2024, the port handled over 1,600 cruise ship voyages and over 2 million passenger trips.
Days later, the Silver Dawn became the first international cruise ship to arrive in Shanghai this year, bringing over 400 tourists from more than 20 countries, including the United States, Britain, and Australia. During the eight-day Spring Festival holiday, the border inspection authorities in Shanghai reported 22 cruise ship entries and exits, with 72,000 cruise passenger trips.
Tang Ming, head of a Shanghai-based travel agency, noted that since February 2024, the market has steadily recovered. "We expect to see a 20 to 30 percent increase in international cruise tourists this year," he said.
Tourists from the cruise ship Europa 2 go through the customs at a port in Qingdao, east China's Shandong Province, March 1, 2025. (Xinhua/Li Ziheng)
Cruise ports in Qingdao are expected to receive over 40 cruise ship visits in 2025, twice the number recorded in 2024, according to the city's culture and tourism bureau. Meanwhile, Tianjin International Cruise Home Port is preparing for increased activities, with more than 40 inbound and outbound cruise ship visits anticipated at Dongjiang Port in the first quarter alone.
Can I be asking a question? When will China ever be able to pay off all its central and local government debt and be in surplus in everything? Is this even a good thing? Apparently the last time the US was in this position was 1835. That must be when a golden age begins, no?
Tax Collections in 2024, from the Budget:
全国一般公共预算收入219702.12亿元,为预算的98.1%,比2023年增长1.3%。其中,税收收入174972.01亿元,下降3.4%,主要是受工业生产者出厂价格持续下降等因素影响,部分税种收入下降较多;
中央一般公共预算主要收入项目具体情况是:国内增值税33222.5亿元,为预算的92.1%,下降3.9%,主要是工业生产者出厂价格低于预期
For the "deflation is good" fanboys:
This means Fiscal Revenues (一般公共预算）missed budget target by 1.9% = 425bln. Someone tell me how many J-20s or J-35s that is.
Central Government realizes the problem and are actively addressing it ("稳住楼市股市") - so any more "Deflation is Good" = 违背党中央部署.
全国一般公共预算收入219702.12亿元,为预算的98.1%,比2023年增长1.3%。其中,税收收入174972.01亿元,下降3.4%,主要是受工业生产者出厂价格持续下降等因素影响,部分税种收入下降较多;
中央一般公共预算主要收入项目具体情况是:国内增值税33222.5亿元,为预算的92.1%,下降3.9%,主要是工业生产者出厂价格低于预期
For the "deflation is good" fanboys:
This means Fiscal Revenues (一般公共预算）missed budget target by 1.9% = 425bln. Someone tell me how many J-20s or J-35s that is.
Central Government realizes the problem and are actively addressing it ("稳住楼市股市") - so any more "Deflation is Good" = 违背党中央部署.
Terrible idea, I don't think all of its central and local government debt can even be paid off since the RMB is fiat. Even if it was all paid off through writing down debts and negative interest rates, it would be a bad idea since nobody would have anymore RMB anymore. Remember debt=credit=money in circulation.
I don't think deflation is good, but deflation in industrial sectors also mean cheaper J-20s or J-35s.
Except the debt that you borrowed last year is also more expensive (meaning propensity to borrow also slows down dramatically, slowing down the economy even more).
No. It would me the government takes out more from the economy than it puts in.
Deflation also means cheaper borrowing costs. This is really nothing to worry about.
proelite
Junior Member
How much of the deflation is from improved efficiency in agriculture and manufacturing.