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News on the Chinese Economy

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Guo fights back

Fosun’s founder angered by claims about his firm’s financial health
Sep 23, 2022 (WiC 601)

The Chinese have a range of sayings to warn against the dangers of rumour mongering. “Zhen Shen commits murder” (曾参杀人) references a story in which a trusting mother comes to believe that her son, a virtuous statesman, has murdered ...

Soon to reach 100

New entrants to the HSI reinforce the view it’s become a China index
Sep 2, 2022 (WiC 598)

The Hang Seng Index (HSI) stands out as “the ultimate capitalist measure of Hong Kong,” wrote Robert Nield, president of the Royal Asiatic Society’s Hong Kong branch, in his foreword to The Dragon and the Crown, the memoir of the ...

He flew too close to the sun

What can we learn from the jailing of Tomorrow tycoon Xiao Jianhua?
Aug 26, 2022 (WiC 597)

Xiao Jianhua once ranked himself as the leading contender among a group of tycoons aspiring to be known as the Warren Buffett of China. It was only after studying the Berkshire Hathaway chairman’s approach that he started to edge away from the ...

Sichuan’s energy crisis

Heatwave and loss of hydropower cause big disruptions across China
Aug 26, 2022 (WiC 597)

As part of a press conference this month to showcase Sichuan’s contribution to the economy, the province’s senior officials proudly proclaimed Sichuan as the largest base for clean energy in China. That was helped by the fact that the ...

China cuts interest rates on bad economic news
Aug 19, 2022 (WiC 596)

In January we speculated that the Chinese were going to follow a different path on interest rates to other major economies over the remainder of the year. Sure enough, China’s central bank hasn’t followed the crowd as other countries raised ...

A terrible second quarter

China’s ‘zero-Covid’ policies take toll on its 2022 growth target
Jul 22, 2022 (WiC 594)

‘Zero-Covid’ means zero growth. That was one way of responding to China’s latest economic data at the end of last week, which showed that GDP growth slowed to 0.4% in the second quarter compared to a year ago. It was the second worst ...

Greener pastures

Chinese firms look for new growth in ‘Going Overseas’ trend
Jun 30, 2022 (WiC 591)

After launching the open-door policies and economic reforms of the late 1970s, Chinese policymakers made inward foreign investment the first priority for their economy. With China’s accession to the World Trade Organisation in 2001, ‘Going ...

What Anbang IPO says about future of money
Jun 30, 2022 (WiC 591)

Armed escorts feature in a number of martial arts movies. In Crouching Tiger, Hidden Dragon, for example, Michelle Yeoh plays the swordswoman boss of a private security agency (or biaoju). Her profession thrived for long ...

Decoupling: phase two

Washington pushes for new law to block US investment in China
Jun 24, 2022 (WiC 590)

What’s the best way to stop China challenging for semiconductor supremacy? Probably not by trying to suffocate its supply of key equipment and components, it seems, after reports this week that China’s chip sector has grown faster than ...

Beijing warns Washington on rate hikes
Jun 24, 2022 (WiC 590)

Fighting inflation seems to be one of a diminishing number of objectives that the world’s two biggest economies have in common. For example, one of the less-discussed outcomes from a virtual meeting between Chinese President Xi Jinping and his ...

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