China’s leading video-streaming platform iQiyi said to lay off up to 40% staff
iQiyi, one of China’s top video-streaming platforms, is said to have started a large-scale layoff, reported several mainland news outlets including Yicai, Sina News and The 21st Century Business Herald on Wednesday. It’s the largest…
China’s top property developers saw sales decline further in November despite signals for easing financing
China’s major property developers saw sales decline further in November even after the government sent several positive signals to stabilize the housing market. The top 100 property developers’ sales revenue reached 750.8 billion yuan in…
China’s factory activity fell back into contraction in November – private survey
China’s factory activity fell back into contraction in November as subdued demand, shrinking employment and elevated prices weighed on manufacturers, a private survey showed on Wednesday. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to…
China’s LGFV bond issuance hit new record of 5.1 trillion yuan this year, net financing declined on year
China’s local government financial vehicles (LGFVs) had issued 5.1 trillion yuan of bonds this year as of November 28, hitting a new record high and representing 400 billion yuan increase from the previous record, according…
China’s manufacturing activity unexpectedly returned to expansion in November, services sector grew at slower pace
China’s manufacturing activity unexpectedly return to expansion territory in November after government measures curbed runaway raw material prices which helped prop up demand, while services sector grew at a slow pace due to impact of…
Home sales in some cities show signs of improvement amid easing financing, analysts say overall downtrend remains unchanged
After disappointing performance in the traditional peak season of September and October, home sales in some Chinese cities show signs of improvement in November amid easing real estate financing. Analysts believe the overall downtrend in…
More than 20 provinces extend maternity leaves, offer allowance to boost birth rate
More than 20 provincial governments in China have announced policy changes to extend maternity leaves and offer allowances, in the latest attempt to encourage child-rearing as the country faces a demographic crisis. The changes follow…
Home rents in key cities fell on month in November, home rental transactions fell nearly 18%
Average home rents in China’s major cites declined by 1.3% in November from the prior month while transactions in home rental market tumbled by 17.9% month on month, according to a research on Monday. Among…
China’s steel prices show stabilization amid expectation of stronger demand, analysts say room for improvement limited
China’s steel prices show signs of stabilization recently after sliding sharply in the past few months, boosted by expectations of stronger steel demand amid improving real estate financing. However, analysts say that the room for…
Chinese industrial profit growth accelerated in October driven by mining, raw material manufacturing sectors
Profits at China’s industrial companies grew at a faster pace in October driven by companies in including mining and raw material manufacturing sectors. Profits rose 24.6% in October from a year earlier to 818.7 billion…
China’s cement price fell significantly in traditional peak season, due to sluggish demand, falling coal prices
China’s cement prices have declined significantly in November and central China’s Hubei province and south Guangdong province led the drops, with prices in the regions sliding by a total of over 100 yuan per tonne…
Chinese official warns challenges for exports, some economist say exports’ contribution to China’s real economic growth may drop to zero
China should not be “blindly optimistic” about outlook of foreign trade amid increasing headwinds, the country’s vice commerce minister said, in the latest warning from the authority over challenges faced by the Chinese economy. In…
China’s lithium prices tops 200,000 yuan/tonne for first time ever boosted by strong demand for new energy vehicles
China’s lithium prices jumped above 200,000 yuan per tonne for the first time on record driven by strong demand for new energy vehicles and year-end restocking in downstream industries. According to data from consultancy Shanghai…
China’s Chengdu city announces measures to help developers ease liquidity crunch
The city of Chengdu, capital of southwest China’s Sichuan province, announced several measures including stepping up the quota of property loans and relaxing regulations on developers’ use of property pre-sale proceeds, in the first such…
China suspends Tencent from updating existing app, launching new apps
Chinese social media and gaming giant Tencent Holdings has been suspended from updating its existing apps or launching any new apps as part of Chinese authorities’ “temporary administrative guidance” against the company. The Ministry of…
Chinese property developers’ bond issuance picked up significantly in November, nearly all issuers SOEs
Chinese property developers that had struggled in a sector-wide cash crunch finally saw a pick-up in financing this month after authorities repeatedly urged financial institutions to maintain stable lending to the sector and ensure homebuilder’…
China’s tyre producers hike prices amid surging material costs
Many Chinese tyre producers are raising prices due to surging prices of raw materials. Guizhou Tyre Co. Ltd and Triangle Tyre Co. Ltd recently said in online communications with investors that they have arranged tyre product…
China’s yuan strengthens despite firming US dollar, analysts expect downward pressure next year
The Chinese yuan strengthens supported by continued seasonal corporate demand, even as the US dollar strengthens after US President Joe Biden’s decision to reappoint Federal Reserve Chai Jerome Powell for a second term emboldening bets…
