The Chinese Communist Party (CCP) announced back in July that it had achieved a complete “moderately prosperous society” and eliminated “absolute poverty” in China. However, recent research shows that the number of individuals from households with less than 500 yuan ($80) per capita monthly disposable income has exceeded 220 million in China, a sharp contrast…
20 Percent Households With $103 Per Capita Monthly Disposable Income: China Statistical Yearbook 2021
Upcoming Live Q&A Webinar: Will Boycotting the Beijing Olympics Make a Difference?
December 10, 2021
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The Chinese regime is due to host the Winter Olympics in less than two months, an event that’s bringing back memories of the 2008 Beijing Games, which at the time was labeled the “Bloody Olympics.” Since then, the Chinese Communist Party has expanded its human rights abuses, surveillance apparatus, and censorship practices to become the…
Dollar Loses Ground After US Inflation Data
December 10, 2021
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The dollar lost some ground on Friday after U.S. consumer prices increased roughly in line with expectations in November as investors, who had been bracing for much higher inflation, bet that the actual number would not change the pace of interest rate hikes. Labor Department data showed an increasing consumer price index (CPI) as cost…
Alibaba, Tencent, and Nio Rivals Xpeng, Li Auto Fall in Hong Kong as Evergrande, Kaisa Default on Payments
Shares of Alibaba Group Holding Limited, Baidu Inc., Tencent Holdings Inc., Xpeng Inc., and Li Auto Inc. fell in Hong Kong on Friday, while JD.Com Inc. traded higher. What’s Moving Chinese e-commerce giant Alibaba’s shares traded 0.9 percent lower at HKD 122.30 ($15.68) in Hong Kong, while peer JD.Com’s shares have risen 0.8 percent to…
China Evergrande Chairman’s Stake Drops to 59.8 Percent on Forced Selling: Filing
HONG KONG—Chairman Hui Ka Yan’s shareholding in embattled China Evergrande Group has dropped to 59.78 percent from 61.88 percent, Hong Kong stock exchange filings showed, in a forced selling by a third party to whom the shares were pledged. The sale involved277.8 million shares, worth roughly HK$492 million ($63.08 million) based on the stock’s Friday…
Macau Casino Tycoon’s Arrest Signals More Infighting Among China’s Political Elite: Expert
December 10, 2021
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Business & EconomyCCPCCP infightingChinaChina Business & EconomyChinese RegimeMacaumacau casinosmacau economy
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The arrest of a casino mogul is sending shockwaves through China’s political ecosystem. The event might foreshadow Chinese leader Xi Jinping’s new political storm targeting his opponents, according to a China expert in exile. Police detained Macau-based casino tycoon Alvin Chau, whose gambling business generates more than $157 billion annually, along with his 10 followers…
China Factory-Gate Inflation Slows in November
December 10, 2021
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China’s sky-high factory inflation, also known as the producer price index (PPI), slowed in November from a 26-year high the month before. The factory inflation rose 12.9 percent from a year earlier in November, slower than October’s 13.5 percent—the most significant increase since 1995—but faster than the 10.7 percent of September, according to a Dec….
Global Stocks Follow Wall Street Lower Before US Inflation Data
December 10, 2021
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BEIJING—Global stock markets declined Friday ahead of U.S. inflation data that might influence a Federal Reserve decision on when to roll back economic stimulus. London and Frankfurt opened lower. Shanghai, Tokyo, and Hong Kong retreated. Fed officials, due to meet next week, have said plans to wind down bond purchases and other stimulus that is…
China Makes Basic Business Data National Security Risks
News Analysis The world’s understanding of China increasingly resembles the old Soviet Union joke: the authorities pretend they are paying wages, workers pretend they are working. China blocking basic business data threatens to shut them off from the world even more. For years, as China printed unreliable economic data, changed it whimsically, or censored it…
Evergrande, Kaisa Cut by Fitch to ‘Default’ After Missed Payment Deadlines
HONG KONG/LONDON—Ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group on Thursday, saying they had defaulted on offshore bonds, while a source said Kaisa had started to work on restructuring its $12 billion offshore debt. The downgrades to so-called “restricted default” status come even though Evergrande and Kaisa have not officially announced…
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