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Nomura analysts were equally downbeat on China's economic outlook. Most economists see downside risk to Chinese growth but they don't expect a recession. It was the slowest growth since December 2022, and shows just how much of a challenge authorities face as they try to make consumption the key driver of future economic growth. MORE STIMULUSAsian stocks stalled at one-month lows, the yuan hit a 9-month nadir while the dollar held broadly firm after the weak Chinese data and latest policy easing measures. But we do need to lower our expectations for China's growth."

Persons: Julian Evans, Pritchard, Nomura, Nie Wen, Robert Carnell, Liangping Gao, Albee Zhang, Shri Navaratnam Organizations: National Bureau of Statistics, Capital Economics, Retail, Hwabao Trust, Investment, Reuters, ING, NBS, Nomura, Thomson Locations: BEIJING, Beijing, China, Asia, Pacific

Asian stocks were down and the dollar held firm after the weak Chinese data and latest policy easing measures. Investment in the property sector tumbled 8.5% year-on-year in January-July, after shrinking 7.9% in January-June, extending its fall for the 17th consecutive month. Demand for the property sector, once a pillar of economic growth, has remained weak in recent weeks. The nationwide survey-based jobless rate climbed slightly to 5.3% from 5.2% in June. After the youth jobless rate rose to record high of 21.3% in June, NBS spokesperson Fu Linghui said at Tuesday's press conference the bureau will suspend publishing the survey-based jobless rate for the 16-24 years old from August, adding China will further improve its employment statistics.

Persons: Julian Evans, Pritchard, Bruce Pang, Jones Lang Lasalle, Fu Linghui, Albee Zhang, Liangping Gao, Shri Navaratnam Organizations: National Bureau of Statistics, Retail, Capital Economics, Jones, Investment, Communist Party, NBS, Thomson Locations: BEIJING, China

People wearing face masks are seen on an overpass in front of a residential building in Beijing, China August 11, 2020. Investors may get their first read on the market reaction when official property investment and price data for August is released next month. It was not the curbs that were holding the market down, they said, but Chinese doubts about better days ahead. While not bullish on real estate, she thinks of big-city properties as a "slightly bruised apple amidst a bunch of rotten ones." "I'm concerned about the change," said a 26-year-old pharmaceuticals worker surnamed Song, who had considered buying a property in Beijing before realising he needed his parents' support.

Persons: Tingshu Wang, Kate Ren, hasn't, Ren, Ting Lu, Sophia Chen, Chen, Zhuran Zhang, Zhang, Song, Liangping Gao, Ella Cao, Shuyan Wang, Marius Zaharia, Sam Holmes Organizations: REUTERS, Nomura, Investors, July's Communist Party, Reuters, Thomson Locations: Beijing, China, BEIJING, HONG KONG, Shanghai, China's, Zhengzhou, Hangzhou

☆ New Zealand says it is aware of China-linked intelligence activity in country
▼ + stars: | 2023-08-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

JADE GAO/Pool via REUTERS/File PhotoWELLINGTON, Aug 11 (Reuters) - New Zealand is aware of intelligence activity linked to China in and against the island nation and the Pacific region, it said in a report released on Friday. "This is a complex intelligence concern for New Zealand," the New Zealand Security Intelligence Service (NZSIS) said in the annual report. The report also highlighted "foreign interference" activity from Iran and Russia. The report added that, more broadly, the international security environment in which New Zealand operates is now more challenging and less predictable than in recent decades. The intelligence report also noted that technological innovation, global economic instability and declining social trust also posed threats.

Persons: Chris Hipkins, Premier Li Qiang, JADE, Alexei Navalny, Andrew Hampton, NZSIS, Lucy Craymer, Richard Chang, Muralikumar Organizations: Zealand, Premier, of, People, JADE GAO, New Zealand, New Zealand Security Intelligence Service, New, Russian Embassy, Thomson Locations: Beijing, New Zealand, China, New, Wellington, Australia, Britain, Canada, United States, Iran, Russia, Iranian, Russian

But there are new good deals all the time, you just have to go out to find them." That's what deflation looks like in China. As witnessed by Japan in the 1990s, deflation - if prolonged - can weigh on economic growth. "Good deals are needed to get consumers through the door so there is a lot of pressure on these businesses to find margins," said Ben Cavender, managing director at China Market Research Group in Shanghai. Restaurant worker Dong went to a wet market in central Beijing around lunchtime on Thursday, but did not buy anything.

Persons: Gao Yi, Ben Cavender, Zhu Danpeng, Joey Wat, Dong, Sophie Yu, Marius Zaharia, Sam Holmes Organizations: China Market Research Group, Guangdong Provincial Food Safety, Alliance, HK, KFC, Reuters, Thomson Locations: BEIJING, Beijing, China, Japan, Shanghai, Guangdong

☆ US-China investments: New Biden executive order deals 'major blow' to Chinese startups
▼ + stars: | 2023-08-10 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

The Biden administration announced Wednesday it would restrict investments by US venture capital and private equity firms, as well as joint ventures, in Chinese artificial intelligence, quantum computing and semiconductors. The executive order applies to investments in the cities of Hong Kong and Macao, as well as mainland China. She said the new edict suggested that Washington was “trying to ‘decouple’” US and Chinese venture capital, despite the administration’s insistence that it is not trying to halt trade with China. US venture capital investment into China has plummeted about 80% over the past year, according to PitchBook data. And the investment restrictions were long in the works.

Persons: Biden, they’ll, ”, Edith Yeung, Washington, Yeung, Kyle Stanford, Kaidi Gao, Tomohiro Ohsumi, “, Gao, Washington —, Xi Jinping, Gina Raimondo’s Organizations: Hong Kong CNN, CNN, Race Capital, ”, PitchBook, Bloomberg, Getty, Investors, Washington, Sequoia Capital, Chinese Ministry of Commerce, China’s Ministry of Foreign Affairs, US Locations: Hong Kong, China, Macao, Silicon, United States, “ Washington, US, ”, Shanghai, chipmaking, Stanford, Beijing

☆ Reaction to China inflation data
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +5 min

Below are comments from analysts on the inflation data:XING ZHAOPENG, SENIOR CHINA STRATEGIST, ANZ, SHANGHAI"Both CPI and PPI in year-on-year terms fell into negative territory and confirmed economic deflation. "With destocking and credit expansion, we expect PPI and CPI will rebound from the bottom in the fourth quarter. The CPI deflation may put more pressure on the government to consider additional fiscal stimulus to mitigate the challenge." XIA CHUN, CHIEF ECONOMIST, YINTECH INVESTMENT HOLDINGS, HONG KONG"The lower inflation data reflects weak demand on the mainland, which is biggest challenge facing China's economy. It also shows China's slower-than-expected economic rebound is not strong enough to offer the weaker global demand and lift commodity prices."

Persons: XING ZHAOPENG, CHUAN, FRANCES CHEUNG, Rather, ZHIWEI ZHANG, MARCO SUN, XIA CHUN, GARY NG, Liangping Gao, Ellen Zhang, Winni Zhou, Samuel Shen, Li Gu, Sam Holmes Organizations: ANZ, CPI, PPI, OCBC, SHANGHAI, MUFG BANK, ASIA PACIFIC, Thomson Locations: BEIJING, CHINA, SHANGHAI, China, SINGAPORE, HONG KONG, Japan, Beijing, Shanghai, Hong Kong

☆ China tips into deflation as efforts to stoke recovery falter
▼ + stars: | 2023-08-09 | by ( Liangping Gao | Ryan Woo | ) www.reuters.com time to read: +4 min

Customers select tomatoes at a stall inside a morning market in Beijing, China August 9, 2023. The consumer price index (CPI) dropped 0.3% year-on-year in July, the National Bureau of Statistics (NBS) said on Wednesday, compared with the median estimate for a 0.4% decrease in a Reuters poll. The producer price index (PPI) declined for a 10th consecutive month, down 4.4% and faster than the forecast 4.1% fall. Asian shares were on the defensive on Wednesday as the Chinese price data confirmed its economic recovery was losing steam. Beijing has set a consumer inflation target of around 3% this year, which would be up from 2% recorded in 2022, and for now, authorities are downplaying concerns about deflation.

Persons: Wang, Japan’s “, ”, Gary Ng, Liu Guoqiang, Xia Chun, Tommy Wu, Wu Organizations: REUTERS, National Bureau of Statistics, “, Asia Pacific, Natixis, Commerzbank Locations: BEIJING, Beijing, China, Asia, Brazil, Japan, Hong Kong

☆ How to pick the coolest clothing for a heat wave
▼ + stars: | 2023-08-06 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

As the planet warms, experts say picking the right clothing to beat the heat will be critical to your health and well-being. Allow sweat to evaporateHumans are designed to self-regulate body temperature by radiating heat directly off the skin and by sweating. “But while you’re exercising, it would be a great choice.”At this time, however, no wardrobe choices can protect the body from really intense heat, Katta said. “The National Weather Service has done a great job of emphasizing the heat index, which considers both heat and humidity, and I think it’s really important,” Katta said. “We can create textiles, clothing and accessories as a form of health, for medicine, for human comfort,” Hu said.

Persons: ”, Rajani, it’s, Prabu, “, Katta, Petros Giannakouris, ” Katta, wicks, Dr, It’s, Jinlian Hu, Hu, Jade Gao, ” Hu Organizations: CNN, American Academy of Dermatology, Tourists, Skin Cancer, National Weather Service, City University of Hong, university’s, Healthcare, Getty Locations: Houston, Athens, Greece, City University of Hong Kong, Beijing, AFP

☆ Philippines says China blocked, water-cannoned boat in S. China Sea
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +4 min

China's coast guard countered that it had implemented necessary controls in accordance with the law to deter Philippine ships, which it accused of trespassing and carrying illegal building materials. China claims sovereignty over almost the entire South China Sea, an assertion rejected internationally, while Malaysia, Vietnam, Brunei, Taiwan and the Philippines have various claims to certain areas. China Coast Guard spokesman Gan Yu responded that China has "indisputable" sovereignty over the Spratly Islands and their adjacent waters, including the Second Thomas Shoal. The Philippine Coast Guard said the Chinese actions violated laws including two international conventions and a ruling from a global tribunal. The Permanent Court of Arbitration in The Hague concluded in 2016 that Beijing's expansive claim to the South China Sea was groundless.

Persons: Carlos Dominguez, Gao Hucheng, Damir Sagolj, China's, Thomas, Gan Yu, Gan, Jay Tarriela, Enrico Dela Cruz, Ryan Woo, William Mallard Organizations: Philippine, China's, REUTERS, Armed Forces, China Coast Guard, Central Military Commission, Philippine Coast Guard, U.S . State Department, Washington, Coast Guard, Philippines Mutual Defense, Thomson Locations: Beijing, China, Philippine, MANILA, Philippines, South China, Malaysia, Vietnam, Brunei, Taiwan, Manila, Ayungin, Spratly, The Hague, South, United States

☆ China's Zhengzhou city launches property support measures
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File PhotoBEIJING, Aug 4 (Reuters) - China's Zhengzhou city has launched measures to support its property market, including easing home resale restrictions, in what analysts said were the first such moves by a big city heeding signals from policymakers. "Zhengzhou's property easing measures will most likely be warmly welcomed by markets, and we expect other tier-2 cities and even tier-1 cities to follow," said Nomura in a research note on Friday. "We are also concerned that merely easing restrictions on existing home sales without lifting restrictions on home purchase may add supply and depress home prices." On Thursday, China's central bank governor pledged to guide more financial resources towards private firms including property. Demand for the property sector, once a pillar of economic growth, has remained weak in recent weeks - property sales between May and June showed the largest monthly drop this year, based on sales by floor area.

Persons: Thomas Peter, Nomura, Liangping Gao, Ryan Woo, Himani Sarkar, Muralikumar Organizations: REUTERS, Communist Party, Thomson Locations: Zhengzhou, Henan province, China, BEIJING, China's, Henan

Evacuated residents have been transferred to makeshift shelters in hotels and schools, according to state media reports. A woman sits next to a flooded road following heavy rains in Zhuozhou, in northern China's Hebei province on August 2, 2023. Jade Gao/AFP/Getty ImagesFlood control zonesSome 857,000 people have been relocated from these areas, state media reported. Under national rules, the cost of properties damaged due to the release of waters in flood control areas will be compensated by 70%. Floods inundate a village in Baoding city, Hebei province, on August 2, 2023.

Persons: Typhoon Doksuri, Jade Gao, ” Yang Bang, Yang, Ni Yuefeng, “, –, Cheng Xiaotao, Shao Sun, Sun, ” Organizations: Hong Kong CNN, Ministry of Water Resources, Getty, University of California, CNN, Sun Locations: Hong Kong, China’s Hebei province, Beijing, Tianjin, Hebei, Zhuozhou, China's Hebei, AFP, Hebei province, “, ”, Baoding, –, China, University of California Irvine, North China

☆ China's energy security push drives up fossil fuel approvals - research
▼ + stars: | 2023-08-03 | by ( David Stanway | ) www.reuters.com time to read: +4 min

"China's government has put energy security and energy transition at odds with one another," said Greenpeace's Gao Yuhe, who led the research published on Thursday. "Beijing has clearly stated that coal power will still grow at a 'reasonable pace' into 2030," she said. China's National Energy Administration (NEA) did not immediately reply to a fax sent requesting a comment on the coal plants and their power generation policies. The increase in China's coal usage reflects a worldwide pattern. The International Energy Agency said last week that global coal consumption reached a record 8.3 billion tons in 2022, with strong growth in Asia offsetting declines elsewhere.

Persons: David Gray, Gao Yuhe, Xi Jinping, Gao, Jorrit Gosens, David Stanway, Christian Schmollinger Organizations: Mongolia Autonomous, REUTERS, Companies Greenpeace, Greenpeace, National Energy Administration, International Energy Agency, National Development, Reform Commission, European, Global Energy Monitor, Australian National University, NEA, Thomson Locations: Baotou, China's, Mongolia, Mongolia Autonomous Region, SINGAPORE, China, Beijing, Asia, European Union

☆ Here's the 14-page pitch deck that 40Seas, a fintech looking to bring "buy now pay later" to the trade industry, used to raise $16 million
▼ + stars: | 2023-08-02 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

It raised an $11 million seed round in January and raised an additional $6 million in an extension. Here's the pitch deck the startup used to fundraise, which attracted investors like QED Investors. Even though his startup 40Seas only launched seven months ago, for Eyal Moldovan, the business has been decades in the making. 40Seas raised its seed round in January as investors funneled $11 million into the fledgling startup. Here's the 14-page pitch deck 40Seas used to raise its seed and seed extension.

Persons: Eyal, Igor Zaks, Gil Shiff, Suki Gao, Camila, Saruhashim, 40Seas Organizations: QED, Eyal Moldovan, Moldovan, ZIM, Eminence Ventures Locations: Israel, China, India, Tel Aviv, Canada, Europe, Asia Pacific, Australia, New Zealand, Moldovan

☆ China curbs drone exports over ‘national security concerns’
▼ + stars: | 2023-08-01 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China will place export controls on drone and drone equipment in order to “safeguard national security and interests,” its commerce ministry announced Monday, in a move that could impact the war in Ukraine. The restrictions on equipment will require vendors to seek permission to export certain drone engines, lasers, imaging, communications and radar gear, and anti-drone systems. China exports drones to several markets, including the United States, and has a sizable domestic drone manufacturing industry. China has also imposed restrictions on the basis of national security in recent years, “especially since the US-China trade war,” he said. Beijing last month imposed export controls on two elements essential for manufacturing semiconductors.

Persons: “, China “, Russia ”, Moscow “, ”, Antony Blinken, Washington, Henry Gao, ” Gao, DJI Organizations: Hong Kong CNN, CNN, Mugin, US, National Intelligence, China’s, Ministry, Commerce Ministry, ” Export, Singapore Management University, China Locations: Hong Kong, China, Ukraine, Russia, Moscow, Taobao, United States, People’s Republic of China, Beijing, ”, Washington, Shenzhen, Xinjiang

China's application, by far the biggest economy, is next in line if they are dealt with in the order they were received, although that is not a given. The free trade agreement has its roots in the U.S.-backed Trans-Pacific Partnership, developed in part to counter China's growing economic dominance. I think that is completely wrong," Tim Groser, a former New Zealand trade minister and chief trade negotiator said. For CPTPP members, China's application is not the only political dilemma. Taiwan is also seeking to join the pact, in a move opposed by China that member trade negotiators remain unsure about.

Persons: Chris Hipkins, Shigeyuki Goto, Damien O’Connor, Trade Kemi, Damien O'Connor, Donald Trump, Henry Gao, couldn't, Tim Groser, CPTPP, Graham Zebedee, Britain's, New Zealand Wang Xiaolong, Hopes, Wang Huiyao, Antony Blinken, Natalie Black, Lucy Craymer, Joe Cash, Jamie Freed Organizations: New Zealand, Economic, New, Trade, Export, State, Business, Malaysian, Beijing, Pacific, New Zealand's Trade, Pacific Partnership, Communist Party, Singapore Management University, Ministry of Foreign Affairs, World Trade Organization, Australia, Center for, Political, Comprehensive Economic, U.S, Asia Pacific, Thomson Locations: British, Trade Kemi Badenoch, Taiwan, AUCKLAND, BEIJING, China, Pacific, Britain, Auckland, Ukraine, Costa Rica, Uruguay, Ecuador, U.S, Japan, Australia, Canada, Beijing, New Zealand, SOEs, Mexico, Center for China, Wellington, Asia

☆ China's State Council issues measures to expand consumption
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 31 (Reuters) - China's State Council on Monday issued measures to restore and expand consumption in the automobile, real estate and services sector, aiming to give full play to the "fundamental role" of consumption in economic development. In an interview with state broadcaster CCTV published on Monday, unnamed officials from the National Development and Reform Commission said it will take the summer, Mid-Autumn and National Day holidays as an opportunity to expand holiday consumption. Last week, policymakers at a Politburo meeting pledged to step up policy support for the economy amid a tortuous post-COVID recovery, focusing on boosting domestic demand, signalling more stimulus steps. The world's second-largest economy grew at a sluggish pace in the second quarter as demand weakened at home and abroad. Reporting by Liangping Gao and Ryan Woo; Editing by Jacqueline Wong and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Liangping Gao, Ryan Woo, Jacqueline Wong Organizations: State, National Development, Reform Commission, Thomson Locations: BEIJING

☆ China's biggest cities vow to introduce steps to boost property sector
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 31 (Reuters) - China's biggest cities including Beijing and Shenzhen said over the weekend they would implement measures to better meet the needs of homebuyers, without giving details, aiming to prop up a property sector that is seeing few signs of recovery. Markets have expected policymakers to signal more property stabilisation steps after the Politburo meeting. China's property sector has seen a string of debt defaults by cash-squeezed developers over the past few years with China Evergrande Group (3333.HK), the world's most indebted property developer, at the centre of the crisis. Beijing's housing ministry on Saturday night said it would take into account the city's real estate situation and work with relevant departments to implement the pledges of policymakers. Official newspaper Guangzhou Daily also reported on Sunday that Guangzhou's housing ministry had vowed to launch relevant policy measures as soon as possible.

Persons: Liangping Gao, Ryan Woo, Himani Sarkar Organizations: China Evergrande, HK, Official, Guangzhou Daily, Thomson Locations: BEIJING, Beijing, Shenzhen

Financial firms and their regulators have cut salaries and bonuses after China's top graft-busting watchdog vowed to eliminate "Western-style hedonism" in the $57 trillion sector. "Wage cuts will intensify deflationary risks and reduce willingness to spend," said Zhaopeng Xing, ANZ's senior China strategist. Reuters GraphicsWEAK BARGAINING POWERUnilateral wage cuts are illegal in China, but complex salary structures offer ways around that. Shao, who sold make-up in the eastern city of Suzhou and only gave her surname for privacy reasons, had a choice to leave her company or accept a 50% wage cut. Their bargaining power ... is weakened so they tend to accept wage cuts," said Aidan Chau, researcher at Hong Kong-based rights group China Labour Bulletin.

Persons: Yao, Zhaopeng Xing, ANZ's, Unit's Xu Tianchen, Zhaopin, Shao, Aidan Chau, Xu, he's, Xiangrong Yu, Ellen Zhang, Marius Zaharia, Liangping Gao, Kripa Jayaram, Kim Coghill Organizations: Communist Party, Financial, Economist, Reuters, Workers, China Labour Bulletin, Reuters Graphics Reuters, Citi, Graphics, Thomson Locations: China, BEIJING, HONG KONG, Hefei, Suzhou, Hong Kong, Shanghai, Beijing

☆ Check out a ghost town of deserted Chinese mega-villas built for multimillionaires that's now overrun by farmers and left to rot
▼ + stars: | 2023-07-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Chinese farmers have moved into a cluster of abandoned villas in China to grow crops and rear cattle. Jade Gao/AFP via Getty ImagesThe half-built villas are now overrun by local farmers, who plow the land and plant crops on the overgrown lawns of abandoned villas. Local farmers now plow the land of the abandoned development. Jade Gao/AFP via Getty ImagesThe insides of the buildings look post-apocalyptic too, like shots straight out of "The Last of Us." Shenyang's ghost villas are just one of many "rotten" real estate projects across China's urban landscapeThe interior of a deserted housing sales building.

Persons: Jade Gao, —, riche, Guo, who's, Li Gan, Gan Organizations: Twitter, Service, AFP, Greenland Group, Getty, Getty Images, Texas, M University, Survey, Research Center, China Household Finance, Chengdu's Southwestern University of Finance, Economics Locations: China, AFP, Weibo, Wall, Silicon, Shenyang, China's, Liaoning province, Greenland, Evergrande, Li

☆ China's President Xi meets with Henry Kissinger in Beijing
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] China's President Xi Jinping attends a signing ceremony with Palestinian President Mahmud Abbas (not pictured) at the Great Hall of the People in Beijing , China June 14, 2023. JADE GAO/Pool via REUTERS/File photoBEIJING, July 20 (Reuters) - China's President Xi Jinping met with veteran U.S. diplomat Henry Kissinger in Beijing, state media reported on Thursday. He met with Xi at the Diaoyutai State Guesthouse, CCTV reported. Washington said it was aware of Kissinger's trip to China this week, but noted he was not acting on behalf of the U.S. government. Reporting by Bernard Orr; editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Xi Jinping, Mahmud Abbas, JADE, Henry Kissinger, Xi, Kissinger, Wang Yi, Li Shangfu, Beijing Kissinger, Richard Nixon, Gerald Ford, Washington, Bernard Orr, Christian Schmollinger Organizations: of, People, JADE GAO, U.S, ., Thomson Locations: Beijing, China, BEIJING, Diaoyutai State, Washington

☆ Social Security recipients could face 'a rapid increase of wait times' to receive benefits if Congress fails to increase funding for the program, according to the union representing its workers
▼ + stars: | 2023-07-20 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

House Republicans are proposing funding cuts for the Social Security Administration. The union said Social Security recipients could face longer wait times to receive benefits. The union warned that the already underfunded agency could see its standing issues, like long wait times for accessing benefits and long lines at its offices, only worsen. "If you read our Commitment to America, all we talk about is strengthening Medicare and Social Security." Aside from Social Security, lawmakers could be facing a budget showdown this fall over a number of contentious issues.

Persons: —, Julie Tippens, AFGE, Kevin McCarthy, Bernie Sanders, Elizabeth Warren, Sanders Organizations: Republicans, Social Security Administration, The American Federation of Government Employees, Social, Service, American Federation of Government Employees, Labor, Health, Human Services, Education, Security, GAO, SSA, Management, Social Security, Medicare, Federal, Aid, Democratic Locations: Wall, Silicon, America

[1/5] A worker sweeps a street in the Central Business District on a rainy day in Beijing, China, July 12, 2023. REUTERS/Thomas PeterBEIJING, July 18 (Reuters) - China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich. He expects growth to slow to 3%, which "will feel like an economic recession" when youth unemployment is already above 20%. The April-June data puts 2023 growth on track for roughly 5%, with slower rates thereafter. But China's annual growth averaged around 7% last decade, and more than 10% in the 2000s.

Persons: Thomas Peter BEIJING, Desmond Lachman, year's, Wang Jun, Zheng Shanjie, Zheng, Richard Koo, Juan Orts, Xi Jinping's, Zhao, Cai Fang, Zhu Ning, Koo, Liangping Gao, Ellen Zhang, Ziyi Tang, Kevin Yao, Joe Cash, Marius Zaharia, David Crawshaw Organizations: Central Business District, REUTERS, American Enterprise Institute, Reuters, Communist, Huatai Asset Management, Reform Commission, Overseas, Nomura Research Institute, Fathom Consulting, Shanghai Advanced Institute of Finance, Thomson Locations: Beijing, China, Japan, United States, Young, Africa, Latin, U.S, Central

☆ Remote work has made downtown DC a ghost town as federal office buildings sit mostly empty
▼ + stars: | 2023-07-18 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

But unlike many other US cities, much of DC's downtown office space is controlled by a single landlord: the federal government. There are three major issues when it comes to empty federal building space, Marroni said. Many congressional Republicans have also demanded that the Biden administration both restrict telework and get rid of unused office space. The White House Office of Management and Budget asked federal agencies in April to "substantially increase meaningful in-person work" by limiting telework. But there are concerns — including from employee unions — that restricting remote work could hurt the recruitment and retention of federal workers.

Persons: Muriel Bowser, hasn't, —, David Marroni, Marroni, She's, Biden, Scott Perry, they've Organizations: Office, DC, Service, Republicans, Transportation, Infrastructure, GAO, Pennsylvania Republican, White, Office of Management, Department of Education, Department of Veterans Affairs, Post, Trump International Locations: Wall, Silicon, Washington, DC's, Pennsylvania

Property sales by floor area declined 28.1% year-on-year, extending a 19.7% fall in May, according to Reuters calculations based on data from the National Bureau of Statistics (NBS). For June, property investment totaled to 1.2849 trillion yuan, falling 20.6% from a year earlier after a 21.5% drop in May, according to Reuters calculations. For January-June, property sales by floor area were down 5.3% year-on-year compared with a 0.9% fall in the first five months. Property investment fell 7.9% in the first six months, after slumping 7.2% in January-May from the same period a year earlier. New construction starts measured by floor area fell 24.3% year-on-year, after a 22.6% drop in the first five months.

Persons: Liangping Gao, Ella Cao, Ryan Woo, Kim Coghill, Simon Cameron, Moore Organizations: National Bureau of Statistics, Authorities, Thomson Locations: BEIJING

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