DIRS.INFO The most relevant business & tech news

CNN —Three people died after typhoon-like winds pulled them out through their apartment windows in southern China, as extreme weather battered the region over the past week. A total of seven people had died in Jiangxi province since the exceptionally strong winds began on Sunday, state broadcaster CCTV reported on Thursday. A 60-year-old woman from the same building was also swept out of the window by extreme wind. Air conditioners were blown out of high-rises in the city, while more than 2,000 trees were toppled, state media said. China has been hit by a series of extreme weather events in recent years.

Persons: yanked Organizations: CNN Locations: China, Jiangxi, Nanchang, Heilongjiang

☆ 3 people died after being ripped from their high-rise apartments by freak wind storms in China, local reports say
▼ + stars: | 2024-04-02 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThree people died on Sunday in China's Jiangxi province after being torn from their high-rise apartments by heavy winds, local media reported. A neighborhood chat group message published by Jimu News and other regional media identified three of the deceased as a 64-year-old woman, her 11-year-old grandson, and another 60-year-old woman. Reporters from both outlets published photos of the neighborhood that showed apartments with missing glass facades and only mangled frames remaining. AdvertisementThe affected high-rise neighborhood in Nanchang was completed in 2015, per property listings of the area.

Persons: —, Wan, Liu, Xu, Li Mengping, Li Organizations: Service, Jimu, Business, CCTV, Red Star News, Nanchang Emergency Management Bureau, Weibo Locations: China's Jiangxi, Nanchang, Hubei, Beijing, Weibo, Chengdu, China

☆ Rural men in China say they're too poor to afford the massive dowries expected of them. People on social media say it's just an excuse.
▼ + stars: | 2024-03-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

Read previewA Chinese state media report about rural men struggling to afford exorbitant dowries has triggered backlash online from people who say the bachelors are missing the point. State-run outlet Legal Daily published an article on Monday covering the dating lives of three rural men in their early 30s, who said they can no longer keep up with rising "betrothal prices." Many accounts, who listed themselves as female on their profiles, say men are using the unattainable dowries as an excuse for their undesirability as partners. It's not about the dowries, people sayRising dowries have unsettled Chinese officials already fretting about plummeting national birth and marriage rates. AdvertisementMeanwhile, it's become increasingly clear that officials are concerned by the growing prevalence of singlehood among rural men, with state media often discussing such bachelors leading loveless lives.

Persons: —, Cheng Wei, Mu Zheng, Mu, It's, shouldn't, it's, loveless Organizations: Service, Business, National University of Singapore, Monday, BI, dowries Locations: Jiangxi, Weibo, China, Beijing

☆ Chinese zodiac fortune predictions for 2024
▼ + stars: | 2024-02-09 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +19 min

Natalie Leung/CNN, Adobe StockMonkeys are going to have a relatively stable year. Natalie Leung/CNN, Adobe Stock“This year, you may have to work a bit harder and work longer hours than usual. Natalie Leung/CNN, Adobe Stock“It isn’t the worst year but there are going to be some challenges. Natalie Leung/CNN, Adobe Stock“According to ancient Chinese philosophy, Tigers and Dragons have a complicated relationship. Natalie Leung/CNN, Adobe StockAll you Rabbits can give yourself a pat on the back.

Persons: Hong Kong CNN —, There’s, ”, Chen, “, Thierry Chow, CNN Chow, floristry, “ It’s, Chow, Xuan, Duke, Jupiter, Stringer, VCG, Zhang Yu, Ulet Ifansasti, Johanes, NurPhoto, Zhang Cheng, Wu Wenjun, Axel Miranda, Tai Sui –, Tai Sui, Natalie Leung, Ben Ming Nian, “ Let’s, Ben Ming, “ You’ll, Ma Xing, –, it’s, It’s, there’s, ” Chow, Xing Tai Sui Organizations: Hong Kong CNN, CNN, Shui, China News Service, Spring, Reuters Workers, Adobe, Adobe Stock, Adobe Stock People, ”, Roosters, Tiger Tigers, Dragons, Tigers Locations: Hong Kong, Asia, Xuan Kong, Xi'an, Shaanxi Province, China, Beijing, Solo City, Indonesia, Dharmayana, Bali , Indonesia, Guangzhou, China's, Guangdong Province, Barcelona, Spain, Nanchang, Jiangxi Province

☆ China gears up to ring in Year of the Dragon with expected record 9 billion trips
▼ + stars: | 2024-02-09 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +6 min

Authorities last month forecast that China’s population of 1.4 billion would take a record 9 billion trips during the 40-day holiday travel period, which began on January 26. Stringer/VCG/Getty Images A man takes photos of blooming plum blossoms at the Summer Palace in Beijing, China on February 5. Johanes P. Christo/NurPhoto/AP Crowds flock to the Spring Festival Light Show in Xi'an, Shaanxi Province, China on February 3. Axel Miranda/SOPA Images/Sipa/Reuters Workers assemble dragon lanterns at a production workshop in Nanchang, Jiangxi Province, China on January 24. Two major indexes recorded their worst drops in years capping off a dire 2023 that saw China’s stock markets become the world’s worst performer.

Persons: ”, Luo, Stringer, VCG, Zhang Yu, Ulet Ifansasti, Johanes, NurPhoto, Zhang Cheng, Wu Wenjun, Axel Miranda, Xi Jinping, ” Xi Organizations: Hong Kong CNN —, Festival, CNN, Authorities, China News Service, Spring, Reuters Workers, HSBC, Beijing, United States Embassy Locations: Hong Kong, China, Beijing, Fujian, Xi'an, Shaanxi Province, Solo City, Indonesia, Dharmayana, Bali , Indonesia, Guangzhou, China's, Guangdong Province, Barcelona, Spain, Nanchang, Jiangxi Province, Shanghai

☆ China fire: Blaze in Jiangxi province leaves at least 39 dead, says state media
▼ + stars: | 2024-01-24 | by ( Nectar Gan | ) edition.cnn.com time to read: 1 min

How relevant is this ad to you? Video player was slow to load content Video content never loaded Ad froze or did not finish loading Video content did not start after ad Audio on ad was too loud Other issues

☆ Building Fire in China Kills at Least 39, With Others Trapped
▼ + stars: | 2024-01-24 | by ( Vivian Wang | More About Vivian Wang | ) www.nytimes.com time to read: 1 min

A fire in a commercial building in southeastern China killed at least 39 people on Wednesday, as emergency workers raced to rescue people still trapped inside. The fire broke out around 3:30 p.m. local time in Xinyu, a city in Jiangxi Province, in the basement of a building that housed an internet cafe on the ground floor and an educational center upstairs, according to Chinese state media and a local government announcement. A video posted on social media by the Communist Party-affiliated outlet Beijing News showed thick black smoke billowing out of windows. Other videos posted by social media users on Wednesday, of what appeared to be the same building, showed people jumping from upper floors to a mattress on the ground outside, and a boy climbing down a ladder, wearing a backpack.

Organizations: Communist Party -, Beijing Locations: China, Xinyu, Jiangxi Province

☆ The 'crown jewel' of the Chinese military appears to have a serious corruption problem, but the US can't afford to bet on its missiles all being defective
▼ + stars: | 2024-01-14 | by ( Chris Panella | ) www.businessinsider.com time to read: +11 min

Recent reports point to corruption and readiness problems in the Chinese military, the rocket force in particular. In the aftermath of the report, an ex-PLA official told Radio Free Asia problems like this have long been rampant in the Chinese military. The rocket force shakeups suggest that there are questions over who can be trusted. Xinhua/Cha Chunming via Getty ImagesConcerns about corruption and readiness stand in contrast with the modernization and strengthening of the Chinese military. Is the PLA, particularly the rocket force, the increasingly formidable force the Pentagon described in a military power report last October?

Persons: It's, —, Tom Shugart, Xi Jinping, that's, hotpot, hadn't, bigwig, Xi, Liu Dawei, Shugart, weren't, Lintao Zhang, Li Shangfu, Li Gang, ISW, there's, Andy Wong Organizations: Service, People's Liberation Army, US, Center, New, New American Security, Liberation Army, Getty Images, Bloomberg, PLA, Rocket Force, Radio Free, 14th China International Aviation, Aerospace Exhibition, Getty, Liberation Army Rocket, Business, United, Naval, Army, Air Force, Communist, of, Defense, Chinese Communist Party, Liberation Army's Army Infantry College, Li, Pentagon, U.S . Nimitz, US Army Locations: New American, Taiwan, Hefei, Anhui province, Radio Free Asia, Zhuhai, Guangdong Province, Xinhua, United States, Beijing, China, PLA, Gutian, Jiangxi Province, U.S, Tiananmen, Pamir, Kashgar, China's Xinjiang, Pacific

Countries pledged in the 2015 Paris Agreement to hold global warming to within 1.5C above pre-industrial temperatures but the new paper by a team of scientists, including from NASA and Columbia University, adds to evidence suggesting that this goal is already out of reach. Most emissions scenarios under the United Nations Intergovernmental Panel on Climate Change (IPCC) envision the world breaching 1.5C during the 2030s. EARTH SENSITIVITYThe study's findings, published in the journal Oxford Open Climate Change, result from two factors. The IPCC has given a best-guess estimate that the doubling of atmospheric carbon dioxide levels would yield global warming of around 3C (5.4F). Cleaning the skies, while bringing health benefits and saving lives, accelerates climate change.

Persons: Thomas Peter, James Hansen of, Michael Mann, Pennsylvania's Mann, Klaus Hubacek, Katy Daigle, Gareth Jones Organizations: REUTERS, NASA, Columbia University, United Nations, James Hansen of Columbia, Earth Institute, University of Pennsylvania, IPCC, University of Gronigen, Thomson Locations: Gan, Nanchang, Jiangxi province, China, UN, Paris, 1.5C, heatwaves, Libya, Dubai, 4.8C

☆ China's Sept industrial profits extend gains helped by policy support
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Gabriel Crossley/File Photo Acquire Licensing RightsBEIJING, Oct 27 (Reuters) - Profits at China's industrial firms extended gains for a second month in September, adding to signs of a stabilising economy as the authorities launched a burst of supportive policy measures. For the first nine months, profits slid 9% from a year earlier, narrowing from a 11.7% decline in the first eight months, data from the National Bureau of Statistics (NBS) showed on Friday. A fall in producer prices last month indicated that some industrial firms were still cutting prices to promote sales, putting a drag on overall industrial revenues and profits, Zhou said. The improvement in industrial profits is expected to sustain in the coming months, partly due to the lag effect in domestic macro pump-priming, he added. Industrial profit numbers cover firms with annual revenues of at least 20 million yuan ($2.73 million) from their main operations.

Persons: Gabriel Crossley, Yu Weining, Zhou Maohua, Zhou, Pan Gongsheng, Qiaoyi Li, Ryan Woo, Jacqueline Wong Organizations: II, REUTERS, Rights, National Bureau of Statistics, Graphics, NBS, China Everbright Bank, Thomson Locations: Jiujiang, Jiangxi province, China, Rights BEIJING

☆ Chinese rare earth prices hit 20-month high on Myanmar supply worry
▼ + stars: | 2023-09-07 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

BEIJING/HANOI (Reuters) -Chinese rare earth prices jumped to their highest in 20 months, as mining suspension in major producer Myanmar sparked stockpiling ahead of the peak consumption season, analysts said on Thursday. A mining machine is seen at the Bayan Obo mine containing rare earth minerals, in Inner Mongolia, China July 16, 2011. Rare earth is a prized group of 17 minerals used in consumer electronics and military equipment. Myanmar accounted for 38% of rare earth imports into China in January-July, Chinese trade data showed, while the Southeast Asian country was the fourth biggest source of rare earth mining in 2022, data by the U.S. Geological Survey showed. ($1 = 7.3275 Chinese yuan renminbi)

Persons: Stringer, Eikon, SMM, “, ”, Yang Jiawen, David Merriman, Merriman, ” Merriman, SMM’s Yang Organizations: REUTERS, Shanghai Metals, Mines, U.S . Geological Survey, Reuters Locations: BEIJING, HANOI, Myanmar, Bayan, Inner Mongolia, China, Myanmar’s Pangwa, Kachin State, Chipwi, Pangwa, Kachin, Southern China, Laos, Jiangxi province

☆ South China soaks as rains from Haikui continue to pound region
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows flooded villages in Minhou county after heavy rains brought by typhoon Haikui, in Fuzhou, Fujian province, China September 5, 2023. cnsphoto via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. Acquire Licensing RightsBEIJING, Sept 7 (Reuters) - The remnants of Typhoon Haikui drenched China for a third day since making landfall, as moisture-laden clouds dumped rain onto the country's south despite weakening cyclonic winds. Later this week, the storms are expected to continue in Guangxi bringing the southwestern region extreme rainfall on Friday and Saturday before potentially dissipating on Sunday. Haikui's storms flooded parts of southeastern Fujian province where it landed early on Tuesday, forcing 294,100 people to evacuate, inundated 9,949.7 hectares (24,586.24 acres) of crops and damaged nearly 2,540 homes. Intense rains in the city of Fuzhou shattered 12-year-old rainfall records, surpassing the amount brought by Typhoon Doksuri late July.

Persons: Typhoon Doksuri, Liz Lee, Christian Schmollinger Organizations: cnsphoto, Rights, China Meteorological Administration, Authorities, Thomson Locations: Minhou county, Fuzhou, Fujian province, China, CHINA, Rights BEIJING, downpours, Guangdong, Tangxi, Jiangxi, Hunan province, Guangxi, Hainan, Guilin, Laibin, Fujian, Xiamen, Shanghai

☆ This chart shows how exposed each of our 35 stocks is to China's struggling economy
▼ + stars: | 2023-08-15 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The chart below is meant to provide a high level view of the revenue exposure each of the 35 companies in our portfolio has to the world's second-largest economy. First, a couple caveats: Our energy exploration and production stocks Coterra Energy (CTRA) and Pioneer Natural Resources (PXD) screen as having zero revenue exposure outside of the United States. Nvidia (NVDA) is another stock where the direct revenue exposure can be misleading. That makes the 60% revenue exposure to the Asia-Pacific region more concerning, even as mainland China realized organic sales growth during the quarter. As a result, total sales, services sales and wearables, home and accessories sales all set June quarter records in Greater China.

Persons: Estee Lauder, WYNN, Estee Lauder We're, wouldn't, Jim Cramer's, Jim Cramer, Jim Organizations: Coterra Energy, Natural Resources, Nvidia, Devices, AMD, Apple, Wynn Resorts, Wynn, Macau, Starbucks, Management, Jim Cramer's Charitable, CNBC, Vcg, Visual China, Getty Locations: China, Asia, Pacific, Taiwan, Macau, United States, U.S, Japan, Greater China, India, Jiangxi Province

☆ What are China's 'sponge cities' and why aren't they stopping the floods?
▼ + stars: | 2023-08-10 | by ( David Stanway | ) www.reuters.com time to read: +4 min

The "sponge city" initiative was designed to make greater use of lower-impact "nature-based solutions" to better distribute water and improve drainage and storage. A total of 30 pilot sponge cities were selected in 2015 and 2016. By last year, only 64 of China's 654 cities had produced legislation to implement sponge city guidelines, researchers said in January. Even if sponge city measures had been implemented in full, they would have been unable to prevent this year's disasters. This year's heavy rain hit cities in the normally arid north, where sponge city development is less advanced.

Persons: David Stanway Organizations: REUTERS, Thomson Locations: Poyang county, Jiangxi province, China, Zhengzhou, Henan province, Beijing

“I don’t necessarily need a higher paid job or a better life,” she added. College graduates looking for jobs at a fair in central China's Hubei province on July 20. A growing trendOn Douban, about 4,000 members of a group called “full-time children’s work communication center” discuss topics related to their daily “working” lives. By contrast, today’s “professional” children spend time with parents and do housework in exchange for financial support. In addition to her family duties, she’s busy applying for government jobs and taking exams for graduate school.

Persons: Litsky Li, Li, ”, “, headwinds, Zhang Dandan, ” hashtag, somethings, today’s, ’, Fang Xu, Nancy Chen, she’s, Chen, hasn’t, It’s, George Magnus, Magnus Organizations: Hong Kong CNN, College, CNN, Peking University, University of California, China News Service, Harvard University, China Centre, Oxford University, SOAS University of London Locations: Hong Kong, Luoyang, China's Hubei, Beijing, ”, China, University of California Berkeley, Jiangxi, Wanshou, China's Jiangxi

☆ Guangdong, China: Six dead after knife attack outside kindergarten in Lianjiang
▼ + stars: | 2023-07-10 | by ( Jessie Yeung | ) edition.cnn.com time to read: +1 min

CNN —Six people have been killed and one injured in an early morning knife attack outside a kindergarten in southern China, according to Lianjiang city police and Chinese state-run media. Video footage from the scene, which circulated online and was then obtained and distributed by Reuters news service, show the assault took place outside a kindergarten. The video shows concerned residents passing by the site of the attack, where a sign outside reads “kindergarten,” and police tape being put up. CNN cannot independently verify details about the victims or the method of attack, and has reached out to local officials. China has faced a spate of mass stabbings in recent years, often targeting children; a 2020 knife attack at an elementary school injured 37 children in the southern Guangxi region, while a 2022 stabbing at a kindergarten killed three in eastern Jiangxi province.

Persons: Wu Organizations: CNN, Global Times, Police, Reuters Locations: China, Hengshan, Lianjiang, Guangdong, ”, Guangxi, Jiangxi

☆ Jiangxi: Explosion at chemical factory in China
▼ + stars: | 2023-07-01 | by ( Chris Lau | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —An explosion at a chemical plant in Southeast China on Saturday sent huge billows of thick black smoke into the air. The blast took place at a plant owned by the silicon oil production company Jiangxi QianTai New Materials at around noon in the city of Guixi, Jiangxi province, according to Chinese state media outlet CCTV. Footage posted on Weibo by CCTV and People’s Daily, another Chinese state media outlet, showed a huge plume of black smoke billowing into the air and emergency services attending to the scene. Initial reports suggest that the explosion occurred after silicon oil caught fire, according to CCTV. Authorities are investigating the cause of the fire that led to the explosion.

Organizations: Hong Kong CNN, Saturday, Weibo, Twitter, CCTV, Firefighters Locations: Hong Kong, Southeast China, Jiangxi, Guixi, Weibo

☆ Analysis-In China's lithium hub, mining boom comes at a cost
▼ + stars: | 2023-06-15 | by ( Siyi Liu | Dominique Patton | ) www.reuters.com time to read: +7 min

FILE PHOTO: A vehicle is seen near a lithium smelter in Yichun, Jiangxi province, China March 30, 2023. It has supported mine development by taking stakes in mining companies to help battery materials makers that do not have mines overseas like those owned by China’s top lithium producers Ganfeng Lithium and Tianqi Lithium. Separating lithium from lepidolite can cost as much as 100,000 yuan per metric ton, compared to 40,000-50,000 yuan for brine and 50,000-60,000 yuan for spodumene, analysts said. ‘NATURAL RESOURCES CHAOS’Further dimming the outlook for lepidolite, environmental damage is a growing concern. UBS analysts see China’s supply of lithium from lepidolite tripling to 280,000 metric tons, or 13% of global supply, between 2022 and 2025, well short of Yichun’s target.

Persons: ”, Yang Yaohua, Yang, Wu Wei, Eric Norris, ” Norris, Yongxing, Yichun, Ma Jun, ” Ma, Vicky Zhao, Li Qi Organizations: REUTERS, Staff, Australia, Guosen, Macquarie, Gotion High Tech, CRU, Xiamen University, Energy, lepidolite, Reuters, Materials Technology, Institute of Public & Environmental Affairs, UBS, Benchmark Mineral Intelligence Locations: YICHUN, China, Yichun, Jiangxi province, lepidolite, Beijing, Sichuan, Qinghai, Tibet, Shanghai, Jin, U.S, Jiangxi

☆ China's temple visits skyrocket amid economic uncertainty
▼ + stars: | 2023-06-09 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Economic uncertainty has driven temple visits and tourism to new heights, according to analysts and travel websites. Temple visits have surged this year more than fourfold from a year ago, according to recent data from Qunar and Trip.com, another travel site. Social media has also fueled the boom in temple tourism, as young people like to share their experiences on social networks, she added. Anhui Jiuhuashan Tourism Development, which runs the Jiuhua Mountain scenic area in central Anhui province, also shattered quarterly sales records. A small temple at Wudang Mountain in China's Hubei province pictured on October 27, 2004.

Persons: Hong Kong CNN —, ”, Qunar.com, Soeren, Yang Yan, Ryan Pyle, supplicants, “ Organizations: Hong Kong CNN, Nanjing Securities, Social, Communist Party, Caitong Securities Locations: Hong Kong, China, Beijing, Qunar, Nanjing, Sichuan, Shan, Anhui Jiuhuashan Tourism, Anhui, Jiangxi province, Wudang, China's Hubei, Hangzhou

☆ An 'air train' in China runs using an overhead magnetic track, never touching it as it glides through the air 30 feet above the ground — see it in action
▼ + stars: | 2023-04-29 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

An 'air train' in China runs using an overhead magnetic track, never touching it as it glides through the air 30 feet above the ground — see it in actionChina's "Red Rail" air train glides through the air without touching the track above it or anything below. Hu Chenhuan/Xinhua via Getty Images The Red Rail glides through the air suspended about 10 meters, or 33 feet, above the ground. Photo by Hu Chenhuan/Xinhua via Getty Images Source: South China Morning Post It has two cars that can carry 88 passengers total. Photo by Jiang Tao/China News Service via Getty Images Source: South China Morning Post In its experimental phase, the track is 800 meters long, or roughly 2,620 feet. Photo by VCG/VCG via Getty Images Source: South China Morning Post Read next China Trains Business Visual Features More...

☆ Beijing investigating illegal mining activities in Chinese lithium hub, report says
▼ + stars: | 2023-02-27 | by ( ) www.cnbc.com time to read: +1 min

Workers are seen at the production line of lithium-ion batteries for electric vehicles (EV) at a factory near Shanghai, China. China's central government has sent a working group to probe illegal mining in the country's lithium hub Yichun, financial news outlet Yicai reported on Sunday. Yichun has 1.1 million tons of lithium oxide reserves and accounts for 12% of global output, according to the South China Morning Post. One lithium analyst, who declined to be named, told Yicai that the industry optimistically estimates that the shutdown will last for about a month. Yichun currently produces between 10,000 tons and 12,000 tons of lithium carbonate per month, it reported.

☆ China’s January factory activity returns to growth as economists cheer its reopening
▼ + stars: | 2023-01-31 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

A textile factory on December 30, 2022 in Jiangxi Province. Chinese manufacturing activity contracted at its sharpest pace in nearly 3 years in December. China's factory activity bounced back in January and expanded for the first time since September, data from the national bureau of statistics showed. The official manufacturing purchasing managers' index (PMI) rose to 50.1 in January, above the 50-point mark that separates growth from contraction. Non-manufacturing PMI rose to 54.4, the highest level since June 2022.

☆ They Poured Their Savings Into Homes That Were Never Built
▼ + stars: | 2023-01-24 | by ( Isabelle Qian | Agnes Chang | ) www.nytimes.com time to read: +13 min

We talked to four people who emptied their life savings and took out huge loans for homes that have not been completed. “It was a simple dream — to have a home, a family,” Mr. Tang said. Mr. Tang, who works in a restaurant, sold a small place he had out in the countryside. “When I think about the unfinished apartment, it’s as if I’m falling from heaven to hell, ” Mr. Tang said. Homeowners atop one of the unfinished apartment towers call for construction to fully resume.

☆ China’s local governments set 2023 growth targets, offering clues on economic recovery
▼ + stars: | 2023-01-12 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The meetings will culminate in the national parliamentary session to be held in March, in which the premier is expected to disclose the nation’s GDP growth target. So far, a group of government economists and international analysts have said they expect Beijing to set a growth target of above 5% in 2023. On Thursday, Zhejiang province, another major economic powerhouse, announced it’s targeting an expansion of more than 5% in 2023. On Wednesday, Shanghai, the most affluent city in mainland China, announced it would aim for 5.5% growth this year. On the same day, Fujian, Sichuan and Hebei provinces all disclosed growth targets of 6% for 2023.

☆ China December manufacturing contracts at sharpest pace in almost 3 years
▼ + stars: | 2022-12-31 | by ( ) www.cnbc.com time to read: +1 min

Chinese manufacturing activity contracted at its sharpest pace in nearly 3 years in December. China's factory activity shrank for the third straight month in December and at the sharpest pace in nearly three years as Covid infections swept through production lines across the country after Beijing's abrupt reversal of anti-virus measures. The data offered the first official snapshot of the manufacturing sector after China removed the world's strictest Covid restrictions in early December. Reuters reported on Wednesday that Tesla plans to run a reduced production schedule at its Shanghai plant in January, extending the reduced output it began this month into next year. Weakening external demand on the back of growing global recession fears amid rising interest rates, inflation and the war in Ukraine may further slow China's exports, hurting its massive manufacturing sector and hampering an economic recovery.

Search resuls for: "Jiangxi Province"

25 mentions found