Chinese Economics Thread

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Nutrient

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localizer said:
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This is promising.
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OppositeDay said:
This has actually been one of my biggest complaints against the Chinese government. Instead of using China’s USD reserves to buy U.S debts or lend to developing countries with dubious capacity to repay, they should allow Chinese citizens to diversify their portfolio. People are more willing to consume when their investments are more diversified and hence more secure.
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My worry is that some crooks might "invest" offshore to move their money out of China. This can lead to capital flight, a serious threat.
 
PhSt

PhSt

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Fostering closes economic ties with China's SEA neighbors is always a brilliant idea to keep American influence in these countries in check. It will send a clear message to the region that China offers business opportunities and economic prosperity for all while America only offers confrontation and disarray

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AndrewS

Brigadier
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localizer said:
That's why they limit it to $50k/year even on these investments.

Gonna take you 20 years to move $10 million even with 10 family members.
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But it's investments in intangible securities and insurance.
The government could just say all the profits have to be withdrawn in RMB
So it's not a permanent move of money overseas.

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There was already a $50K limit per year for

- Personal travel

- Study abroad

- Business travel

- Visiting relatives abroad

- Medical care abroad

- Commodity trading

- Non-investment- oriented insurance

- Consulting services
 
N

Nutrient

Junior Member
Registered Member
localizer said:
That's why they limit it to $50k/year even on these investments.

Gonna take you 20 years to move $10 million even with 10 family members.
Click to expand...

Well, let's hope the limit on foreign investment stays low. Cranking up the limit will be much easier than introducing the law in the first place.
 
localizer

localizer

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China added 11.86 million new urban jobs nationwide in 2020, exceeding the target of creating over nine million urban jobs, the Ministry of Human Resources and Social Security said on Friday.

In 2020, the surveyed unemployment rate in urban areas stood at 5.6 percent, below the government's annual target of around 6 percent.

In December last year, the surveyed urban unemployment rate was 5.2 percent, down from its annual peak of 6.2 percent in February as COVID-19 brought many of the country's economic activities to a halt.
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things could’ve turned out much worse
 
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gadgetcool5

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China Adds 48.2 GW of Solar Capacity in 2020, its Second Best Year on Record​

China has installed 48.2 GW of solar capacity in 2020, a 60% year-over-year increase compared to 30.11 GW in 2019, according to the latest data from the National Energy Administration (
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). The solar installations in 2020 were the second-largest ever, only behind the 52.8 GW installed in 2017.

China also installed 71.67 GW of wind capacity in 2020. The country’s cumulative wind capacity stood at 281.72 GW at the end of 2020. Currently, it has over 530 GW of installed solar plus wind capacity, amounting to about 24% of its total power generation capacity of 2200 GW.

The combined capacity addition of solar and wind stood at 119.9 GW in 2020, which can push NEA to announce the target of 120 GW of solar and wind capacity installations in 2021.

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Comment: In comparison, the U.S. achieved a record year for renewables in 2020, adding a combined 33.6 GW of solar and wind capacity.
 
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