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☆ China home prices fall at faster pace in December - private survey
▼ + stars: | 2023-01-01 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Jan 1(Reuters) - China's home prices fell at a faster pace in December, according to a private survey on Sunday, reflecting persistently weak demand amid rising COVID-19 cases despite a slew of support measures. China's property market crisis worsened this summer, with official data showing home prices, sales and investment all falling in recent months, adding pressure on the faltering economy. Home prices in 100 cities fell for the sixth month in a row in December, declining 0.08% from a month earlier after falling 0.06% in November, according to the survey by China Index Academy (CIA), one of the country's largest independent real estate research firms. Among the 100 cities, 68 cities posted a fall in monthly prices, compared with 57 in November, the survey showed. "Real estate policies may continue to maintain an accommodative tone with room for policy easing on the supply and demand side in 2023," said the real estate research firm, adding "the housing market is expected to stabilize gradually next year."

☆ Chinese manufacturing contracts sharply as COVID infections soar
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +4 min

Economists in a Reuters poll had expected the PMI to come in at 48.0. The data offered the first official snapshot of the manufacturing sector after China removed the world's strictest COVID restrictions in early December. Cumulative infections likely reached 18.6 million in December, UK-based health data firm Airfinity estimated. GDP expanded 3% in the first nine months of 2022, versus China's official full-year goal of around 5.5%. The official composite PMI, which combines manufacturing and services, declined to 42.6 from 47.1.

☆ China Dec manufacturing contracts sharply as COVID infections soar
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +3 min

The data offered the first official snapshot of the manufacturing sector after China removed the world's strictest COVID restrictions in early December. 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 the economic recovery. The official composite PMI, which combines manufacturing and services, declined to 42.6 from 47.1. The official manufacturing PMI largely focuses on big and state-owned firms. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Jan. 3.

☆ China December factory activity contracts sharply - official PMI
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 31 (Reuters) - China's factory activity contracted for the third straight month in December and at a sharper pace, official data showed on Saturday, weighed down by the spread of COVID infections through production lines following Beijing's abrupt easing of anti-virus measures. The official purchasing managers' index (PMI) stood at 47.0 against a 48.0 reading in November, the National Bureau of Statistics (NBS) said. Economists in a Reuters poll had expected the PMI to come in at 48.0. The 50-point mark separates contraction from growth on a monthly basis. Reporting by Ryan Woo, Joe Cash and Ellen Zhang; Editing by Sam Holmes and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ China's health officials exchange views with WHO on COVID-19
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 30 (Reuters) - Senior Chinese health officials exchanged views with the World Health Organization on Friday on the new coronavirus via a video conference, China's National Health Commission said in a statement. Both sides exchanged views on the current epidemic situation, medical treatment, vaccination and other technical matters, the Chinese health authority said, adding that more technical exchanges would be held. Reporting by Ryan Woo; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

"More fundamental, and more subtle and more important is the social contract and social trust in China. COVID CZAROver the past three years, Vice Premier Sun, 72, has been the face of China's COVID fight, a mother-like figure who has executed Xi's zero-COVID policy with a firm hand. In April this year, Sun rushed to Shanghai as the city went under lockdown, according to state media reports. During the Shanghai lockdown, while also on an inspection tour, Sun was bombarded by pleas from residents shouting from their windows: "No more rice! How the current infections are tackled remain a key near-term challenge to COVID czars.

☆ China COVID deaths accelerate to 9,000 a day - UK research firm Airfinity
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +3 min

Cumulative deaths in China since Dec. 1 likely reached 100,000 with infections totalling 18.6 million, Airfinity said in a statement. Airfinity expects China's COVID infections to reach their first peak on Jan. 13 with 3.7 million cases a day. Airfinity expects deaths to peak on Jan. 23 around 25,000 a day, with cumulative deaths reaching 584,000 since December. Since Dec. 7 when China made its abrupt policy U-turn, authorities have reported 10 COVID deaths. Airfinity expects 1.7 million deaths across China by the end of April, according to its statement.

☆ Their colleges banned TikTok over security fears. These students vow it won't stop them from scrolling.
▼ + stars: | 2022-12-28 | by ( Daysia Tolentino | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kahlan-Rosenblatt.Jpg | ) www.nbcnews.com time to read: +7 min

But a handful of students at the affected universities who spoke with NBC News say the newly enacted policies won’t stop them from scrolling their For You pages. Kay Ivey banned TikTok on state-owned devices and networks on Dec. 12, citing cybersecurity issues and fears over Chinese spying. Lawmakers in the U.S. House and the Senate also proposed a bipartisan bill to ban TikTok federally on Dec. 13. A University of Oklahoma spokesperson said the school is complying with Stitt’s executive order. Texada said he felt that TikTok, beyond helping with marketing, has also been a resource for the university community, particularly international students.

☆ China Jan-Nov industrial profits fall 3.6% vs Jan-Oct 3% fall
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 27 (Reuters) - Profits at China's industrial firms in January-November fell 3.6% from a year earlier, after contracting 3.0% in the first 10 months, according to data the National Bureau of Statistics (NBS) released on Tuesday. The world's second-largest economy faces headwinds from multiple directions. COVID-19 infections are surging after an abrupt relaxation of harsh restrictions, hitting businesses and consumers, while a weakening global economy is hurting Chinese exports. Industrial profit data covers large firms with annual revenue above 20 million yuan ($2.87 million) from their main operations. ($1 = 6.9792 Chinese yuan renminbi)Reporting by Ellen Zhang and Ryan Woo; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ Fosun app lets China users get BioNTech COVID vaccines in Hong Kong
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] The BioNTech logo is seen at the booth of Fosun Pharmaceutical (Group) at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 3, 2021. REUTERS/Florence LoHONG KONG, Dec 27 (Reuters) - China's Shanghai Fosun Pharmaceutical Group (600196.SS) said users of its mobile health app in China can now register to take COVID-19 booster shots in Hong Kong using BioNTech's (22UAy.DE) vaccine. BioNTech and its partner for China - Fosun - were granted approval for their COVID-19 vaccine that is adapted for the BA.4 and the BA.5 subvariants of Omicron for people aged 12 and older in Hong Kong, the German company said on Dec. 23. The vaccine is the first and currently only variant-adapted vaccine available as a booster dose for individuals 12 years and older that has been granted approval in Hong Kong, BioNTech said at the time. A shipment of BioNTech COVID-19 vaccines meant for German nationals in China arrived at the German embassy in Beijing last week as cases in China soared after policymakers dropped nearly all of previous epidemic control protocols.

☆ China to scrap COVID quarantine rule for inbound travellers
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 26 (Reuters) - China will stop requiring inbound travellers to go into quarantine starting from Jan. 8, the National Health Commission said on Monday in a major step towards easing curbs on its borders, which have been largely shut since 2020. Strict requirements on inbound travellers had remained in place, including five days of mandatory quarantine at a government-supervised facility and three more of isolation at home. That restriction and one on the number of passengers on international flights will be removed from Jan. 8. Travellers entering China will still have to undergo PCR testing 48 hours before departure, however, the health authority said. Reporting by Ryan Woo, Ethan Wang, Eduardo Baptista and Brenda Goh; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.

☆ Beijing braces for surge in severe COVID cases as world watches with concern
▼ + stars: | 2022-12-21 | by ( Bernard Orr | ) www.reuters.com time to read: +5 min

[1/4] People wearing face masks commute in a subway station during morning rush hour, following the coronavirus disease ( COVID-19) outbreak, in Beijing, China January 20, 2021. China, which uses a narrow definition of what can be classified as COVID fatalities, reported no new COVID deaths for Dec. 20, compared with five the previous day. Severe cases rose by 53 across China on Tuesday, versus an increase of 23 the previous day. China does not provide absolute figures of severe cases. Blood clots, heart problems and sepsis - an extreme body response to infection - have caused countless deaths among COVID patients around the world.

☆ Chinese business confidence falls to lowest in almost a decade on COVID
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 19 (Reuters) - China's business confidence fell to its lowest since January 2013, a survey by World Economics showed on Monday, reflecting the impact of surging COVID-19 cases on economic activity with the abrupt lifting of many pandemic control measures. The index fell to 48.1 in December from 51.8 in November, showed the World Economics' survey of sales managers at over 2,300 companies conducted Dec. 1-16. "The survey suggests strongly that the growth rate of the Chinese economy has slowed quite dramatically, and may be heading for recession in 2023," World Economics said. The survey showed business activity fell sharply in December with the sales managers indexes in Manufacturing and Service Sectors both below the 50 level. Reporting by Liangping Gao, Ryan Woo and Joe Cash; Editing by Stephen Coates and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese business confidence lowest in almost a decade -survey
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 19 (Reuters) - China's business confidence hit its lowest level since at least January 2013, a survey by World Economics showed on Monday, reflecting the impact of surging COVID-19 cases on economic activity and hinting at possible recession next year. The index fell to 48.1 in December from 51.8 in November, showed the World Economics' survey of sales managers at over 2,300 companies conducted Dec. 1-16. The index was the lowest since the survey began. "The survey suggests strongly that the growth rate of the Chinese economy has slowed quite dramatically, and may be heading for recession in 2023," World Economics said. The survey showed business activity fell sharply in December with the sales managers indexes in Manufacturing and Service Sectors both below the 50 level.

Reuters could not immediately establish if the deaths were due to COVID. The NHC also reported 1,995 symptomatic infections for Dec. 18, compared with 2,097 a day earlier. A hashtag on the two reported COVID deaths quickly became the top trending topic on China's Twitter-like Weibo platform on Monday morning. But it is not just the elderly that are wary of vaccines in China. While China's medical community in general doesn't doubt the safety of China's vaccines, some say questions remain over their efficacy compared to foreign-made mRNA counterparts.

☆ China's cities battle first wave of COVID surge as wider spread looms
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +4 min

China is currently in the first of an expected three waves of COVID cases this winter, according to the country's chief epidemiologist, Wu Zunyou. China reported some 2,097 new symptomatic COVID infections on Dec. 17. In Beijing, the spread of the highly transmissible Omicron variant has already hit services from catering to parcel deliveries. A third wave of cases would run from late February to mid-March as people returned to work after the holiday, Wu said. He said those in the community that are vulnerable should be protected, while recommending booster vaccines for the general public.

[1/5] People wait to purchase medicine at a pharmacy, amid the coronavirus disease (COVID-19) outbreak, in Beijing, China December 16, 2022. REUTERS/Xiaoyu YinBEIJING/SHANGHAI, Dec 17 (Reuters) - Funeral homes across China's COVID-hit capital Beijing, a city of 22 million, scrambled on Saturday to keep up with calls for funeral and cremation services as workers and drivers testing positive for the novel coronavirus called in sick. In Beijing, which has yet to report any COVID deaths since the policies changed on Dec. 7, sick workers have hit the staffing of services from restaurants and courier firms to its roughly one dozen funeral parlours. "We've fewer cars and workers now," a staffer at Miyun Funeral Home told Reuters, adding that there was a mounting backlog of demand for cremation services. China's health authority last reported COVID deaths on Dec. 3, in Shandong and Sichuan provinces.

☆ China's economy picking up but "arduous efforts" needed to sustain momentum - state planner
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 16 (Reuters) - China's economy is expected to pick up, but "arduous efforts" are needed to sustain the recovery in growth due to an adverse external environment and the global economy's loss of momentum, the country's top state planner said on Friday. "At the same time, we are aware that the economy is facing a more complex and severe external environment, and weakened growth momentum for the global economy," the spokesperson said. As investment in the property sector slumped significantly, the NDRC said the infrastructure and manufacturing sectors shored up fixed asset investment growth with their capital formation accounting for 26.7% of China's economic growth in the first three quarters. As the Lunar New Year holiday season approaches, the state planner vowed to release state pork reserves in a timely manner in order to keep prices stable. To spur a COVID-hit economy, China has set out plans to expand domestic consumption and investment, state media reported on Wednesday.

Analysts expect sentiment to recover gradually next year, as the relaxation of COVID restrictions and property support policies take effect. Property investment fell the fastest since the statistics bureau began compiling data in 2000, down 19.9% on year in November after a 16% slump in October, the NBS said in a statement. Beike's Liu predicted housing demand will be gradually released in 2023 as consumer sentiment will improve with a progress in housing delivery. Although markets cheered the easing policies, which are expected to boost economic growth in the long term, some analysts say fragile overall demand will keep the property sector's recovery gradual. "Considering the challenging demographic trend, and policymakers' long-held stance that 'housing is for living in, not for speculation', we maintain our view that the property sector recovery should be gradual and bumpy," Goldman Sachs analysts said in a note.

☆ China's November new home prices fall for fourth month
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies China's new home prices slump 1.6% y/y in NovChina's new home prices fall 0.2% m/m in NovBEIJING, Dec 15 (Reuters) - China's new home prices fell for a fourth month in November in monthly terms, weighed by a sluggish economy and a still-ailing property sector, official data showed on Thursday, but recent favourable policies and a relaxation in COVID curbs have burnished the outlook. New home prices in November fell 0.2% month-on-month after a 0.3% slide in October, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Prices dropped 1.6% year-on-year, falling for the seventh straight month. Prices slid 1.6% year-on-year in October. China has rolled out a flurry of measures to support its embattled property sector, which has been squeezed by a liquidity crunch.

☆ China vows 'strong' counter-measures over Manchester incident
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Dec 15 (Reuters) - The Chinese foreign ministry said on Thursday that "strong and forceful counter-measures" will be taken after accusing Britain of failing to protect Chinese staff at the Chinese consulate in Manchester during a protest in October. General view of the Chinese Consulate General in Manchester, Britain, October 17, 2022. REUTERS/Phil Noble/File PhotoPolice had also wanted to question six officials at the consulate including the consul general, but China had since removed them from Britain. read more"We urge the U.K. to ... stop political manipulation and ensure the normal functioning of our consulate-general in the U.K.," Wang Wenbin, spokesman at the Chinese foreign ministry, said at a regular media briefing. Reporting by Eduardo Baptista; writing by Ryan WooOur Standards: The Thomson Reuters Trust Principles.

☆ In COVID U-turn, China's message to the people shifts from war to self-care
▼ + stars: | 2022-12-14 | by ( Ryan Woo | ) www.reuters.com time to read: +4 min

Last week, in one fell swoop, China cut away most of the tenets governing its stifling zero-COVID policies, effectively ending its war on the pandemic. "Be the first person responsible for the epidemic", it has said, which is emerging as China's new public health slogan. So far, China's official COVID death toll remains unchanged at 5,235 since the domestic epidemic curbs were removed. The suddenness of the policy shift has not yet been explained to the public, except that Omicron has weakened. But Beijing resident Charlie Zhang, 42, said he was not enthused about the recent dramatic changes in COVID policies, believing it would be hard for the elderly to recover from Omicron.

☆ China re-opens more areas at risk for COVID spread as lockdowns ease
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Dec 12 (Reuters) - China has slashed the number of locations deemed at high risk of wider COVID outbreaks, re-opening locked down areas including one hosting a key factory of an Apple supplier. The number of high-risk areas tumbled to around 4,500 on Monday, official data showed, down 85% from more than 30,000 on Dec. 7 before the latest policy shift was announced. Last month, thousands of workers fled the Foxconn facility on fears of COVID lockdowns, curtailing production. High-risk areas without new infections for five consecutive days should be released from lockdown, according to one of China's latest protocols released on Dec. 7. Local authorities have also been warned not to arbitrarily expand the scope of lockdowns or prolong them.

☆ China slams U.S. sanctions over alleged rights abuses in Tibet
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 12 (Reuters) - The Chinese foreign ministry said on Monday that U.S. sanctions on two senior Chinese officials over alleged human rights abuses in Tibet were illegal and seriously harmed Sino-U.S.-relations. The U.S. Treasury Department said on Friday it imposed sanctions on Wu Yingjie, the Chinese Communist Party chief in Tibet between 2016 and 2021, and Zhang Hongbo, a senior public security official in the region. China has been accused of harsh policies to quell ethnic dissent and control religious activities in Tibet -- accusations that China rejects. Reporting by Martin Quin Pollard; writing by Ryan Woo; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

[1/4] Women wearing face masks and face shields talk on a street, as coronavirus disease (COVID-19) outbreaks continue in Shanghai, China, December 12, 2022. Reuters witnessed similar queues outside clinics in the central city of Wuhan, where COVID-19 first emerged three years ago. But the figures reflect the dropping of testing requirements, say analysts, while Chinese health expects have warned of an imminent surge. Yet China is pushing ahead with efforts to free up nationwide travel, even if foreign trips may still be a while off. The number of domestic flights available across China exceeded 7,400, nearly double from a week ago, flight tracker app VariFlight showed.

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