By Eva Fu Updated: August 18, 2023 The world’s most heavily indebted property developer Evergrande Group filed for bankruptcy in New York on Aug. 17 amid China’s deepening property crisis.…
China Business & Economy
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By Mary Hong China’s National Healthcare Security Administration (NHSA) announced on Jan. 10 that it will not include Pfizer’s Paxlovid in its national reimbursement plan due to its high cost. The negotiation between…
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FEATUREDUSA & WORLDWorld
2023 Spells Big Trouble for US Economy, Majority of Large Banks Warn: Reports
by EditorRBy Tom Ozimek January 2, 2023 Updated: January 3, 2023 The vast majority of economists at 23 large financial institutions surveyed by The Wall Street Journal predict that the United States…
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CHINA
China’s Retail Sales Slide Into Negative Territory as Economy Suffers Broad Slowdown
by EditorTBy Naveen Athrappully The Chinese economy is showing signs of faltering, with the latest retail sales data falling for the first time in five months and factory output growing slower than expected. Retail…
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By Kathleen Li and Olivia Li The Chinese Communist Party (CCP) regime’s fiscal balance for the first three quarters of 2022 shows that revenue for the country’s general public budget fell by 6.6 percent…
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CHINA
China’s Market Environment Deteriorates as Foreign Investment Confidence Drops to New Low
by EditorTBy Kathleen Li and Sean Tseng China’s business outlook has dropped to a historic low while revenue forecasts reached the lowest in a decade, according to hundreds of American businesses operating in the…
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By Kathleen Li and Cathy Yin-Garton It is obvious that China’s economy continues to decline and market demand is weak. The Manufacturing PMI (Purchasing Managers’ Index) released by the National Bureau of Statistics (NBS) recorded 49.2 in…
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CHINA
Using Night-Time Light Data, Researcher Finds Chinese GDP May Be Overstated by About 35 Percent
by EditorTBy Sophia Lam The Chinese Communist Party (CCP) has been known to alter its economic data. A study published in October used night-time light to determine that China, as well as other…
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Company struggles with cashflow, founder’s annual salary drastically reduced By Kathleen Li and Lynn Xu China’s largest private-sector developer, Country Garden (02007.HK), was recently downgraded from investment level due to its sluggish cash…
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By Reuters BEIJING—By any account, $1 trillion seems huge. That’s the scale of budget shortfalls facing Chinese provinces, reducing their fiscal firepower to fund infrastructure spending and tax cuts, and raising risks for the world’s second-biggest economy…