DIRS.INFO The most relevant business & tech news

☆ China's imports jump 8.4% in April, exceeding expectations as purchases from the U.S. grow
▼ + stars: | 2024-05-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Aly Song | ReutersBEIJING — China's customs agency released data Thursday that showed exports rose in-line with expectations in April, while imports surged ahead of forecasts. Worldwide, China's exports rose by 1.5% year-on-year in April in U.S. dollar terms, while imports climbed by 8.4%, the data showed. China's exports to ASEAN rose by 8% in April from a year ago, while imports rose by 5%. In April, China's imports and exports of integrated circuits rose from a year ago, the data showed. By volume, China's exports of cars, LCD panel displays and home appliances rose, while exports of cellphones fell slightly.

Persons: Aly Song Organizations: Reuters, CNBC, U.S, Association of Southeast, ASEAN Locations: Yangshan, Shanghai, China, Reuters BEIJING, U.S, Union, Russia, Nations, Vietnam, Mexico

☆ China may have to brace for a new wave of bond defaults, S&P says
▼ + stars: | 2024-04-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's state-directed economy may be creating the conditions for a new wave of bond defaults that could come as soon as next year, according to an S&P Global Ratings report released Tuesday. It comes against a backdrop of extremely few defaults in China amid concerns about overall growth in the world's second-largest economy. China's corporate bond default rate fell to 0.2% in 2023, the lowest in at least 8 years and far below the global rate of about 2.6%, S&P data showed. "We've seen directives or guidance from the government in the past year to discourage defaults in the bond market." "The question is: When the guidance to avoid the defaults in the bond market [ends], what happens to the bond market?"

Persons: Charles Chang, that's, Chang, We've Organizations: Country Garden Holdings Co Locations: Phoenix, Heyuan, Guangdong province, China, BEIJING

☆ China's fiscal stimulus is losing its effectiveness, S&P says
▼ + stars: | 2024-04-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's fiscal stimulus is losing its effectiveness and is more of a strategy to buy time for industrial and consumption policies, S&P Global Ratings senior analyst Yunbang Xu said in a report Thursday. The analysis used growth in government spending to measure fiscal stimulus. "In our view, fiscal stimulus is a buy-time strategy that could have some longer-term benefits, if projects are focused on reviving consumption or industrial upgrades that increase value-add," Xu said. The head of the top economic planning agency said in March that China would "strengthen macroeconomic policies" and increase coordination among fiscal, monetary, employment, industrial and regional policies. High debt levels limit how much fiscal stimulus a local government can undertake, regardless of whether a city is considered a high or low-income region, the S&P report said.

Persons: Yunbang Xu, Xu Organizations: Global Locations: Nanning, Guangxi Zhuang, China, BEIJING, Shenzhen, Bazhong, Sichuan

☆ China's policy to boost demand by $700 billion will have a 'bigger and bigger' impact, official says
▼ + stars: | 2024-04-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Vcg | Visual China Group | Getty ImagesBEIJING — China's latest policy to boost demand will soon have a greater effect on growth, a top official at the economic planning agency told reporters Thursday. "We believe this work will achieve bigger and bigger results," he said in Mandarin, translated by CNBC. He noted that equipment upgrades account for 9% to 10% of total GDP. 'Strong' central government fiscal supportIn terms of fiscal funding for those upgrades, Zhao said the central government would provide "strong support." Part of the equipment upgrade and consumer trade-in policy also focuses on improving standards for the kinds of products that can be used.

Persons: That's, Zhao Chenxin, Goldman Sachs, Morgan Stanley, Zhao, Bruce Pang, Fu Jinling, Fu, Francoise Huang, We're, JLL's Pang, Shan Zhongde Organizations: Visual China, Getty, BEIJING, National Development, Reform Commission, CNBC, Analysts, People's Bank of, Allianz Trade, Ministry of Industry, Information Technology, Ministry of Housing, Ministry of Commerce, State Administration, Market, China's Ministry of Commerce, Industry, Global Locations: Qingzhou, Weifang City, Shandong Province, China, oversupply, Beijing, JLL, People's Bank of China

☆ China's commercial property segment is seeing some bright spots amid a slump in the wider realty sector
▼ + stars: | 2024-04-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Vcg | Visual China Group | Getty ImagesBEIJING — China's commercial property sector is seeing pockets of demand amid an overall real estate slump. Commercial real estate, which includes office buildings and shopping malls, makes up just a fraction of China's overall property market. Sales for both commercial and residential properties had fallen for much of last year, according to Wind. Covid-19 restrictions on movement had also cut demand for China's commercial property, in line with global trends. China's economy, however, took longer than expected to rebound from the pandemic, amid a broader slump in the property market.

Persons: JLL Organizations: Visual China, Getty, BEIJING Locations: Beijing, China

☆ KKR says China's real estate correction may only be halfway done
▼ + stars: | 2024-04-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

"A fundamentally overbuilt real estate industry needs to be addressed — and quickly," he said in the report, which counts Changchun Hua, KKR's chief economist for Greater China, among the co-authors. Real estate and related sectors once accounted for about one fifth or more of China's economy, depending on the breadth of analysts' calculations. Based on comparisons to housing corrections in the U.S., Japan and Spain, China's "housing market correction may be just halfway complete" in terms of its depth, the KKR report said. watch nowWhile KKR's report didn't provide much detail on expectations for specific real estate policy, the authors said more action by Beijing to improve China's real estate sector "could materially shift investor perception." Chinese officials have said the real estate sector remains in a period of adjustment, while Beijing shifts its emphasis toward manufacturing and what it considers "high-quality development."

Persons: Henry H, McVey, " McVey, Hong, Nomura Organizations: West Coast New, Nurphoto, Getty, BEIJING, KKR, Authorities, Housing Locations: West, Qingdao, East China's Shandong, China, Changchun Hua, Greater China, U.S, Japan, Spain, Beijing, China's

☆ China's economy is on track for 'strong' March performance, survey says
▼ + stars: | 2024-03-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Employees work on a battery production line at Jiangsu Yongda Power Supply Co. on March 26, 2024 in Suqian, Jiangsu province of China. BEIJING — China's economy is ending the first quarter on a "strong" note, according to a business survey published by the China Beige Book on Thursday. China's official data on retail sales, industrial production and fixed asset investment for January and February beat expectations across the board. The China Beige Book said it surveyed 1,436 businesses between March 1 and 23, split roughly between state-owned and non-state-owned firms. "China Beige Book's March data show the economy poised for a strong end to Q1," the report said.

Persons: H, Qazi Organizations: Jiangsu Yongda Power Supply Locations: Jiangsu, Suqian, China, BEIJING, U.S

☆ How Putin and Xi both bent their nations to their will to become presidents for life
▼ + stars: | 2024-03-19 | by ( Tom Porter | ) www.businessinsider.com time to read: +9 min

In the past decade, Putin and Xi have crushed what little remained of domestic opposition on their paths to absolute power. Advertisement"Both Putin and Xi's careers were forged as highly effective backroom operators forging relationships of dependency and patronage," he said. GREG BAKER via Getty ImagesDover said it would be a mistake to see Putin and Xi simply as dictators operating by arbitrary fiat. Both, he said, had built effective networks of loyalists capable of responding to crises and enacting their ambitious strategies to seize more global power. Xi and Putin bond over hatred of Western powerIt's on the global stage that the synergy between the leaders is of growing significance and growing alarm to Western leaders.

Persons: —, Vladimir Putin, Xi Jinping, Putin, It's, Xi, Graeme Thompson, Robert Dover, Li, notionally, Korea's, GREG BAKER, Getty Images Dover, Xi's, Thompson Organizations: Service, Business, Reuters, Eurasia Group, Hollywood, Getty, University of Hull, Communist Party, US, National People's, of, People, Getty Images, Central, Putin, Beijing Locations: China, Russia, Soviet Union, Moscow, Hong Kong, Beijing, Dover, Ukraine, Ukrainian, Taiwan, Putin Russia, East Asia

☆ EU-China trade relations are in a 'slow-motion train accident,' business group says
▼ + stars: | 2024-03-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"What we see right now is the unfolding of a slow-motion train accident," he told reporters at a briefing last week. "That's when trade becomes a security question and I think that is perhaps not fully appreciated in China just yet." There needs to be an honest conversation between Europe and China about what this is going to mean. The EU was China's largest regional trading partner until Southeast Asia recently surpassed it. The U.S. is China's largest trading partner on a single-country basis.

Persons: Jens Eskelund, Eskelund, I've, Markus Herrmann Chen Organizations: Future Publishing, Getty, European Union Chamber of Commerce, EU, of Commerce, Investment, China Macro Locations: Hefei, Anhui province, BEIJING, Europe, Beijing, China, Southeast Asia, U.S

☆ China kicks off the year on strong note as retail, industrial data tops expectations
▼ + stars: | 2024-03-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Retail sales rose 5.5%, better than the 5.2% increase forecast in a Reuters poll, while industrial production climbed 7%, compared with estimates of 5% growth. Investment into real estate fell by 9% in the first two months of the year from a year ago. National Bureau of Statistics Spokesperson Liu Aihua said that real estate remains in a period of "adjustment," according to a CNBC translation of his statement in Mandarin. New loans in February missed expectations and fell from the prior month, "even after adjusting for seasonality," Goldman Sachs analysts said in a report Friday. Chinese authorities did not reveal significant new support for the massive real estate sector during an annual parliamentary meeting that ended last week.

Persons: Liu Aihua, Liu, Ting Lu, Goldman Sachs, Pan Gongsheng, Goldman Organizations: Pudong New, Investment, National Bureau of, CNBC, China, People's Bank of China, Reuters Locations: Dongyu, Qiantan, Pudong, Pudong New Area, Shanghai, China, BEIJING, Real, Beijing

☆ China's housing minister says real estate developers must go bankrupt if necessary
▼ + stars: | 2024-03-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's struggling real estate developers won't be getting a major bailout, Chinese authorities have indicated, warning that those who "harm the interests of the masses" will be punished. "For real estate companies that are seriously insolvent and have lost the ability to operate, those that must go bankrupt should go bankrupt, or be restructured, in accordance with the law and market principles," Ni Hong, Minister of Housing and Urban-Rural Development, said at a press conference Saturday. "Those who commit acts that harm the interests of the masses will be resolutely investigated and punished in accordance with the law," he said. That's according to a CNBC translation of his Mandarin-language remarks published in an official transcript of the press conference, held alongside China's annual parliamentary meetings. Ni's comments come as major real estate developers from Evergrande to Country Garden have defaulted on their debt, while plunging new home sales have put future business into question.

Persons: China's Organizations: BEIJING, Hong, Housing, CNBC Locations: Evergrande

☆ Chinese regulators ask large banks to step up support for Vanke, sources say
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +1 min

An aerial photo is showing a residential area that is currently under construction by China Vanke in Nanjing, East China's Jiangsu province, on Jan. 17, 2024. Chinese regulators recently met financial institutions to discuss state-backed property developer China Vanke where they asked large banks to enhance financing support and asked private debt holders to discuss maturity extension, two sources said. The sources with direct knowledge of the matter said the financial institutions were asked to make progress quickly, and that the State Council — China's cabinet — is coordinating effort related to supporting China Vanke . The sources, who all requested anonymity due to sensitivity of the matter, did not specify when the requests had been made by regulators to various financial institutions. The National Administration of Financial Regulation and the State Council Information Office, which handles media queries for the council, did not respond to requests for comment.

Persons: China Vanke, —, Banks, Vanke Organizations: State, National Administration of Financial, Information Office Locations: China, Nanjing, East China's Jiangsu

☆ China's annual parliamentary meeting has ended. Here are the key takeaways
▼ + stars: | 2024-03-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's weeklong annual parliamentary meetings ended on Monday and for the first time in decades, the Chinese premier did not host a press conference. Such press conferences were a rare instance of press interaction with the highest levels of China's government. To be clear, the annual gathering of the top leadership is typically ceremonial in nature. The real power lies with the ruling Communist Party, which is headed by Xi, who is general secretary of the party and president of China. Here are some highlights of what was announced at this year's week-long parliamentary meeting, which started Tuesday last week and ended Monday.

Persons: Xi Jinping, Xi Organizations: of, Initiative, People's Congress, National People's, Communist Party Locations: Beijing, China, BEIJING

Chinese Foreign Minister Wang Yi in 2019. Mark Kauzlarich | ReutersBEIJING — China's top diplomat slammed the U.S. for worsening bilateral tensions, while reiterating Beijing's support for peaceful resolutions to the Israel-Palestine and Russia-Ukraine conflicts. Wang said the U.S. has been devising "new ways to suppress China," saying U.S. accusations against China had reached an "unbelievable degree." While he said he sees a way forward for both countries, Wang said communication between both countries may only continue by respecting and recognizing differences. After the unexplained dismissal of Qin Gang as foreign minister in July last year, Wang reassumed the role.

Persons: Wang Yi, Mark Kauzlarich, Joe Biden's, Biden, Joe Biden, Xi Jinping, Wang, Qin, Wang reassumed, hasn't, Xi's, Lai Ching Organizations: Reuters, Reuters BEIJING —, China -, CNBC, Communist Party of, Qin Gang, United Nations, Democratic Progressive Party Locations: Reuters BEIJING, Israel, Palestine, Russia, Ukraine, China, China - U.S, San Francisco, South China, U.S, Gaza, Beijing, Taiwan, South

China's central bank governor said there was room to further cut banks' reserve requirements, and pledged to utilize monetary policy to prop up consumer prices. BEIJING — China's central bank governor said there was room to further cut banks' reserve requirements, and pledged to utilize monetary policy to "mildly" prop up consumer prices. This is part of Beijing's broader economic policy "adjustments" so the economy can hit its growth target of around 5% for the year, while adhering to a 3% fiscal deficit. For investors in the near term, the primary concern remains how much China's policymakers are focused on ensuring growth. "If China's economy encounters unexpected shocks in the future, or the international environment undergoes unexpected changes, we still have tools in reserve in our policy toolbox," he said.

Persons: Gongsheng, Huang Shouhong Organizations: People's Bank of, State, CNBC Locations: BEIJING, People's Bank of China, China

(Photo by WANG Zhao / AFP) (Photo by WANG ZHAO/AFP via Getty Images)BEIJING — China's top securities regulator vowed to "strictly" crack down on market manipulators, while stating that protecting small investors was a "core task." Wu outlined measures deemed necessary to improve the quality of listed companies and increase returns on investment. They include: encouraging listed companies to improve stability, timeliness and predictability of dividend payouts, stricter delisting rules, and expanding inspections of listed companies. "China's market is the second largest in the world, but it's not as strong," Wu said, adding the recent market volatility exposed deep-seated issues. At the same press conference, Pan Gongsheng, governor of the People's Bank of China, also pledged support for overseas listings for high-quality Chinese companies.

Persons: Wu Qing, WANG Zhao, WANG ZHAO, Wu, it's, Pan Gongsheng Organizations: China Securities Regulatory Commission, National People's Congress, Getty Images, People's Bank of Locations: China, Beijing, AFP, BEIJING, People's Bank of China

☆ China calls on foreign businesses to share their problems as investment slumps
▼ + stars: | 2024-03-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

While the Commerce Ministry meeting did not reveal much new progress on the 24 measures to support foreign business that were announced last summer, attendees said they were able to share specific challenges about doing business in China. The ministry said representatives from more than 60 foreign businesses and 9 associations attended Wednesday's roundtable. Foreign direct investment into China has fallen to its lowest level in three years, according to official data, amid geopolitical tensions and slowing growth in the country. Hart said that it's hard for companies not yet in China to complete due diligence and approve new investments. Biden, who faces re-election this fall, has emphasized the need to compete with China while finding areas of cooperation.

Persons: Aly Song, MofCom, Jens Eskelund, Eskelund, Michael Hart, Hart, Joe Biden, Xi Jinping, Biden Organizations: Chinese Communist Party, Reuters, Reuters BEIJING — China's Ministry of Commerce, Commerce Ministry, EU Chamber of Commerce, Cyberspace Administration of, China's Ministry of Commerce, American Chamber of Commerce, U.S, U.S . Transportation Department Locations: China, U.S, Yiwu, Zhejiang province, Reuters BEIJING, Beijing, Cyberspace Administration of China, San Francisco

☆ China's latest market crackdown shows it hasn't learned any lessons
▼ + stars: | 2024-02-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China has curbed short selling and quant trading activities to support its flailing stock markets. AdvertisementBeijing is now trying to support the flailing Chinese stock markets by pulling a familiar move — cracking down on private sector activities. Remember — China's recent private sector enterprise crackdown wiped out over a trillion dollars from its tech sector alone and spooked entrepreneurs. China isn't the first to curb stock market activities — the US also cracked down on short-selling during the 2008 financial crisis. China's securities regulator said on Thursday it wasn't trying to interfere with trading activities, but will crackdown on "illegal activities" that disrupt market order.

Persons: —, They're, George Boubouras, isn't, Eswar Prasad Organizations: Service, Bloomberg, Asset Management, China isn't, Cornell University, International Monetary Fund, Nikkei Locations: China, Beijing, Hong, Melbourne

☆ Airbus says competition from China's Comac C919 is 'not going to rock the boat'
▼ + stars: | 2024-02-20 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

A commercial Aircraft Corp of China (Comac) C919 aircraft operated by China Eastern Airlines during the Singapore Airshow in Singapore, on Tuesday, Feb. 20, 2024. SINGAPORE — China's homegrown airliner may be the latest challenger to Airbus and Boeing's passenger jets, but an executive from Airbus said he's not worried. The Comac C919 is "not going to rock the boat in particular," Christian Scherer, chief executive officer of Airbus's aircraft commercial business, said at a media roundtable on the sidelines of the Singapore Airshow. "It looks a bit like an Airbus narrow body," Scherer said, tongue in cheek, noting that the C919 is "not very different" from what Airbus and Boeing already have in the market. Scherer acknowledged that the C919 was a "legitimate effort" by China — but "the market is large enough for competition, we welcome the competition."

Persons: he's, Christian Scherer, Scherer Organizations: Aircraft Corp of China, China Eastern Airlines, Airbus, Boeing Locations: Singapore, SINGAPORE, China

DOHA, Qatar (AP) — China's Pan Zhanle backed up his world record in the swimming relays by winning the men's 100-meter freestyle at the World Aquatics Championships on Thursday. The 19-year-old Pan swam the fastest 100 in history with a time of 46.80 seconds in the lead-off leg of China’s gold medal-winning 4x100 relay team. HIGH DIVINGWith a huge final dive, Britain's Aidan Heslop claimed the men's title off the 27-meter tower at Doha Old Port. WATER POLOCroatia advanced to the Saturday championship in men's water polo with a 17-16 semifinal victory over France on penalties. Italy claimed the other spot in the final with an 8-6 victory over Spain.

Persons: Zhanle, Pan, didn't, ” Pan, let's, ”, Caeleb Dressel, Kyle Chalmers, Alessandro Miressi, Hungary's Nandor Nemeth, Britain's Laura Stephens, Helena Rosendahl Bach, Lana Pudar, Rachel Klinker, ” Stephens, “, Sarah Sjöström, Swede, Aidan Heslop, France's Gary Hunt, Catalin, Petru Preda, James Lichtenstein, Heslop, you’ve, ” Heslop, ___ Organizations: Paris, Olympic, Doha, Doha Old Port, Croatia Locations: DOHA, Qatar, Paris, Australia, Italy, Denmark, Bosnia, Herzegovina, Doha, United States, France, Croatia, Spain

☆ Warnings, liquidity boost and proverbs — China's tools for propping up its stock market
▼ + stars: | 2024-02-06 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

Chinese financial authorities have been striving to prop up the country's stocks through various measures, including steps aimed at increasing the liquidity in the market, warnings against malpractices and falling back on proverbs. With the onshore markets already erasing gains after the People's Bank of China announced steps to boost liquidity last month, there are doubts whether this familiar Beijing playbook will have a meaningful impact on markets. On Tuesday, Central Huijin, a unit of the mammoth sovereign wealth fund China Investment Corporation, said it had expanded purchases of exchange-traded funds linked to the country's onshore stocks to safeguard market stability. China Securities Regulatory Commission had also warned Monday against "malicious" short-selling and said it would step up scrutiny of margin financing following a volatile trading session. On Sunday it had assured to protect the interests of investors after onshore markets plunged as much as 3% before paring losses Friday.

Organizations: People's Bank of China, China Investment Corporation, China Securities Regulatory Commission Locations: Beijing, China

☆ Evergrande's liquidation crisis won’t be China’s ‘Lehman moment,’ China Beige Book CEO says
▼ + stars: | 2024-01-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. Jakub Porzycki | Nurphoto | Getty ImagesA liquidation order to property giant China Evergrande liquidation crisis this week deepened concerns about China's struggling real estate sector — but analysts say the spillover will likely be contained, with one saying it might actually be "good news." On Monday, a Hong Kong court issued a liquidation order to the embattled property developer after it failed to reach a restructuring deal with creditors. In other words, no massive credit event," Qazi told CNBC. China Evergrande, once among the country's largest property developers, is the world's most indebted company — with more than $300 billion in liabilities.

Persons: Jakub Porzycki, Shehzad Qazi, Lehman, Qazi, CNBC's, It's, China Evergrande, Evergrande, Linda Chan, Charlene Chu Organizations: Nurphoto, CNBC, Lehman Brothers, Hong, Hong Kong Stock Exchange, China macrofinancial, Autonomous Research Locations: China, Hong Kong

☆ Evergrande's liquidation crisis won’t be China’s ‘Lehman moment,’ China Beige Book COO says
▼ + stars: | 2024-01-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. Jakub Porzycki | Nurphoto | Getty ImagesA liquidation order to property giant China Evergrande liquidation crisis this week deepened concerns about China's struggling real estate sector — but analysts say the spillover will likely be contained, with one saying it might actually be "good news." On Monday, a Hong Kong court issued a liquidation order to the embattled property developer after it failed to reach a restructuring deal with creditors. China Evergrande, once among the country's largest property developers, is the world's most indebted company — with more than $300 billion in liabilities. Still, questions remain on whether China will recognize the Hong Kong court order for Evergrande's liquidation — since most of the company's assets are in the mainland.

Persons: Jakub Porzycki, Shehzad Qazi, Lehman, Qazi, CNBC's, It's, China Evergrande, Evergrande, Linda Chan, Charlene Chu, we've, Chu Organizations: Nurphoto, CNBC, Lehman Brothers, Hong, Hong Kong Stock Exchange, China macrofinancial, Autonomous Research Locations: China, Hong Kong, Commerzbank

☆ China's luxury market is bouncing back with new areas of opportunity
▼ + stars: | 2024-01-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

The company's results showed that despite some resumption of overseas travel, more of China's consumers are buying luxury products at home. watch nowThe mainland China personal luxury market grew by about 12% last year to more than 400 billion yuan ($56.43 billion), according to consulting firm Bain & Company. "All of that data points to the importance of the Chinese luxury consumer and the China market," she told CNBC. Luxury brands have increasingly turned to online channels to ensure customer engagement, said Xing from Bain. As companies compete for a slice of the Chinese consumer market, one emerging segment is bedding and fine linen.

Persons: Louis Vuitton, they're, LVMH, Bernard Arnault, that's, Bain, Weiwei Xing, Cartier, Richemont, Burkhart Grund, Xing, Ding Shizhong, Ashley Dudarenok Organizations: Future Publishing, Getty, BEIJING, Bain & Company, CNBC, Consumers Locations: Shanghai, China, Hong Kong, Greater China, Macao, Bain

☆ China's working age population is shrinking
▼ + stars: | 2024-01-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Many Meituan food delivery workers are lining up to make preparations in Shanghai, China, on January 14, 2024. (Photo by Costfoto/NurPhoto via Getty Images)BEIJING — China's working age population is shrinking as a share of the total number of people in the country, according to official data released Wednesday. People ages 16 to 59 accounted for 61.3% of mainland China's population last year, down from 62% the prior year, National Bureau of Statistics data showed. A shrinking working age ratio means fewer people have to support a larger share of the population, even as the number of people in China overall declines. China's total population dropped by more than 2 million people to 1.41 billion in 2023 from the prior year.

Organizations: Getty Images, National Bureau Locations: Shanghai, China, BEIJING

Search resuls for: "— China's"

25 mentions found