When is Jack Ma come up with a compromise with CCP ? My BABA options getting recked.
Chinese Economics Thread
- Thread starter Norfolk
- Start date
US companies are doubling down in China, not decoupling.
Far more Chinese drink coffee daily than they do tea. It's especially true for younger generations. Tea just takes much more to prepare and serve. Teabags can be a good alternative but Chinese typically look down somewhat on teabags since they are basically finely diced up stem or other very low quality parts.
China has tea houses but usually they're there to sell tea with samples on offer. Nothing equal to quick coffee chain houses like Starbucks or McCafe. Normally people will have tea sets at work and home anyway so that's where you make it for yourself or with company. So there's less need for a tea house. Also of course restaurants cater to all that as well anyway.
Well, there's always milk tea and cheese tea.
There is no compromise with the CCP. Alibaba and Ant will have to adapt to new regulations. I for one think that in the long run, its better to put regulation on tech industry now than later, to allow for more competition and less monopoly. Over the years, FAANG has become more of technology inhibitors than innovators, and China should not walk down this path.
Hendrik_2000
Lieutenant General
The economic news coming from China is getting better all the time. But as usual the pundits always throw caveat Next quarter China will falter but it close to year end already well there is next year and year after
China's factory output beats forecasts as Asia shakes off COVID slump
Employee works at a factory of the Zhejiang Headway Communication Equipment Co in Huzhou
Gabriel Crossley and Kevin Yao
Sun, November 15, 2020, 9:27 PM CST
By Gabriel Crossley and Kevin Yao
BEIJING (Reuters) - China's factory output rose faster-than-expected in October and retail sales continued to recover albeit at a slower-than-forecast pace, as the world's second-largest economy emerged from its COVID-19 slump.
Industrial output climbed 6.9% in October from a year earlier, data from the National Statistics Bureau showed on Monday, in line with September's gain. Analysts polled by Reuters had expected a 6.5% rise.
The upbeat figures came as other Asian economic powerhouses also climbed out from their pandemic depths with Japan's economy reporting its fastest quarterly growth on record.
China's industrial sector has staged an impressive turnaround from the pandemic paralysis seen earlier this year, helped by resilient exports.
Now, with the coronavirus largely under control in China, consumers are opening up their wallets again in a further boost to activity.
China's fourth-quarter economic growth will accelerate from the third quarter, Fu Linghui, spokesman of the National Statistics Bureau said, told reporters at a briefing.
Consumption prospects are improving, with the services industry showing good recovery momentum, Fu said.
Retail sales rose 4.3% on-year, missing analysts' forecasts for 4.9% growth but faster than the 3.3% increase in September.
China's auto industry reported robust 12.5% growth in October vehicle sales thanks to surging demand for electric cars and trucks.
Domestic tourism also saw a strong rebound over the Golden Week holiday last month, although levels were still well short of last year's.
Fixed-asset investment rose 1.8% in January-October from the same period last year, compared with the 1.6% growth forecast and a 0.8% increase in the first nine months of the year.
China's factory output beats forecasts as Asia shakes off COVID slump
Employee works at a factory of the Zhejiang Headway Communication Equipment Co in Huzhou
Gabriel Crossley and Kevin Yao
Sun, November 15, 2020, 9:27 PM CST
By Gabriel Crossley and Kevin Yao
BEIJING (Reuters) - China's factory output rose faster-than-expected in October and retail sales continued to recover albeit at a slower-than-forecast pace, as the world's second-largest economy emerged from its COVID-19 slump.
Industrial output climbed 6.9% in October from a year earlier, data from the National Statistics Bureau showed on Monday, in line with September's gain. Analysts polled by Reuters had expected a 6.5% rise.
The upbeat figures came as other Asian economic powerhouses also climbed out from their pandemic depths with Japan's economy reporting its fastest quarterly growth on record.
China's industrial sector has staged an impressive turnaround from the pandemic paralysis seen earlier this year, helped by resilient exports.
Now, with the coronavirus largely under control in China, consumers are opening up their wallets again in a further boost to activity.
China's fourth-quarter economic growth will accelerate from the third quarter, Fu Linghui, spokesman of the National Statistics Bureau said, told reporters at a briefing.
Consumption prospects are improving, with the services industry showing good recovery momentum, Fu said.
Retail sales rose 4.3% on-year, missing analysts' forecasts for 4.9% growth but faster than the 3.3% increase in September.
China's auto industry reported robust 12.5% growth in October vehicle sales thanks to surging demand for electric cars and trucks.
Domestic tourism also saw a strong rebound over the Golden Week holiday last month, although levels were still well short of last year's.
Fixed-asset investment rose 1.8% in January-October from the same period last year, compared with the 1.6% growth forecast and a 0.8% increase in the first nine months of the year.
Hendrik_2000
Lieutenant General
China keep finding new gas reserve in Sichuan basin
Southwest China's Chuanxi gas field has added 83 billion cubic meters in proven reserves of natural gas, says China's oil giant Sinopec Still drop in a bucket just 1 % of consumption
China consumes 8,425,912 million cubic feet (MMcf) of natural gas per year as of the year 2017. China ranks 3rd in the world for natural gas consumption, accounting for about 6.4% of the world's total consumption of 132,290,211 MMcf.
Southwest China's Chuanxi gas field has added 83 billion cubic meters in proven reserves of natural gas, says China's oil giant Sinopec Still drop in a bucket just 1 % of consumption
China consumes 8,425,912 million cubic feet (MMcf) of natural gas per year as of the year 2017. China ranks 3rd in the world for natural gas consumption, accounting for about 6.4% of the world's total consumption of 132,290,211 MMcf.
RCEP is a great move.
This is really one thing that has benefited from the US withdrawal from TPP. Now there are two regional trade blocs and neither one has the US in it.
This is really one thing that has benefited from the US withdrawal from TPP. Now there are two regional trade blocs and neither one has the US in it.