Chinese Economics Thread

plawolf said:

Sadly this is a rather too common problem among Chinese intellectuals who spend too much of their time with their noses in books and watching Hollywood productions about how amazing the western system is without much real life experience of how the world actual works.

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U.S. electric carmaker Tesla Inc. on Monday broke ground on its Shanghai factory, becoming the first to benefit from a new policy allowing foreign carmakers to set up wholly-owned subsidiaries in China.

The new plant, Tesla's first outside the United States, is located in Lingang Area, a high-end manufacturing park in the southeast harbor of Shanghai. It is designed with an annual capacity of 500,000 electric cars.

Tesla signed the agreement with the Shanghai municipal government in July 2018 to build the factory. In October, the company was approved to use an 864,885-square-meter tract of land in Lingang for its Shanghai plant.

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ZeEa5KPul said:

Who's really to blame here? The gullible/corrupt fifth column "intellectuals" who carry the West's water or the institutions that hire them? Shame on Renmin University for giving this saboteur a position, without which he would just be another lunatic ranting on a street corner. He should be fired immediately.

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KlRc80 said:

May I know which parts do you find inconsistent logics?



The message of what was written is mainly criticism on the current strategy by the government at this 40 years crossroads, though no solutions were offered.

Trade war was only discussed in several paragraphs and even then it was all about 'the government misjudged the seriousness of the situation'. Initial reactions was 'no big deal or the US won't dare start it'. Thus the criticism that the situation was misjudged, which was true. Though I agree it isn't easy to say what or how it could have been handled better.



This is the first time I have come across this website actually. But the reason I posted this article is because I think the message that China is at a crossroads now 40 years after Deng Xiaoping started the reforms and the argument that current strategy must change is something I find agreeable to.

As to anti-China sentiment, this is a speech by an economics lecturer given to CEOs of private companies within a university's grounds. It is full of criticisms of the government's policies and points out things that I find are true and interesting.

If you did read through the full article and came to the the conclusion that it's anti-China rather than constructive criticism then I'm surprised.

I think we should care more about the arguments of the content rather than the website that posted the translated transcript.

P. S. The article at the end did request for donations.

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Big data report indicates China’s consumption upgrading
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) 17:38, January 07, 2019

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A food delivery woman (Photo/Chinanews.com)​

A big data report issued by China’s e-commerce giant Alibaba on Jan. 2 indicates the momentum of consumption upgrading in China.

Covering over 3.5 million merchants from 676 Chinese cities, the report said that third- and fourth-tier cities maintained high vitality for growth in 2018.

Langfang, in northern China’s Hebei province, saw the fastest growth in online food ordering services, while Weihai of Shandong province is home to the most book-lovers, with average spending at bookstores in Weihai amounting to five times the national average.

Additionally, more daily consumption demands were met thanks to online services, which suggested further integration of online and offline channels.

According to the report, on New Year's Eve 2018, a total of 14,000 medicines for children were delivered through Eleme, one of China’s leading food ordering platforms. Moreover, 1,248 “999-rose packages” were ordered through the platform on Valentine’s Day last year.

Records issued by food delivery couriers also verified the hig
h demand throughout China. Wang Bingzhong, a courier in Lishui, Zhejiang province, was the top deliveryman in China, finishing 29,797 orders, or 81 per day. In Shanghai, courier Liu Wugui covered a total length of 63,221 kilometers in 2018, which is equivalent to travelling around the equator one and a half times.

Today, Chinese people are more willing to spend their money online, and in 2018, local commerce transactions above 100 yuan were 56 percent higher than the previous year, the report said.

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China's smartphone shipments fell 15.5 percent last year to 390 million units, data from the China Academy of Information and Communications Technology (CAICT) showed Tuesday.

In December, smartphone shipments reached 33.5 million units, down 17 percent year on year, according to a report from the CAICT, a research institute under the Ministry of Industry and Information Technology.

Last year, smartphones accounted for 94.1 percent of all mobile phone shipments in the country.

Overall mobile phone shipments dropped 15.6 percent in 2018 to 414 million units, of which 391 million were 4G phones.

Chinese-brand mobile phones accounted for 89.5 percent of total shipments last year, according to the report.

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Jura said:

now I read
China's smartphone shipments slip in 2018
Xinhua| 2019-01-08 14:11:54

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China has decided to roll out a new batch of inclusive tax-cutting measures for small and micro businesses, with the goal of saving them a total of 200 billion yuan (about 30 billion U.S. dollars) each year.

The policies will include substantial drops in business income tax rates and a considerable increase in the tax threshold, according to a statement released after a State Council executive meeting chaired by Premier Li Keqiang on Wednesday. More companies will be covered by the favorable policies.

The development of small and micro companies is key to a sound economy and stable employment, according to the meeting.

Small firms with taxable revenues of less than 1 million yuan will see the tax rate fall to 5 percent, and those with revenues above 1 million yuan but lower than 3 billion yuan will have a rate of 10 percent.

More than 95 percent of businesses can enjoy the tax reduction, and 98 percent of which are private enterprises.

The threshold of value-added tax for micro firms and the self-employed will be improved from 30,000 yuan to 100,000 yuan in terms of monthly sales.

Governments will also significantly reduce a basket of taxes on areas including resources and land use for small companies, and roll out favorable policies for investors in tech startups.

All the tax policies will be effective for three years and retrospective from Jan. 1.

The meeting also called for implementation of the recent cut in bank reserve requirement ratios and continuation of prudent monetary policy that would ease financing difficulties for private as well as small and micro firms.

The issuance of 1.39 trillion yuan in local government bonds will be accelerated, to be completed by the end of September. The funds raised will be used on a priority basis to support projects under construction.

Backed by the bond issuance, a series of projects in transport, water conservation and environmental protection will start construction sooner.

Efforts will also be made to address the unpaid wages of migrant workers, according to the meeting.

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