China press review
5 things to know about marketing to China’s post-95s: If there is one group that seems to hold the keys to the promised land of Chinese consumerism, it is the “post-95s”. This moniker refers to those born after 1995, also known as Gen Z in the West, who have come to redefine the Chinese economy with their individualism, their search for what being Chinese means, and their preference for authentic brands and meaningful experiences.
British Chamber of Commerce warns China’s data policies could slow innovation: China’s policy regarding data transfer and localisation are causing companies to cancel projects due to fears of compliance issues, according to a report from the British Chamber of Commerce in China published on Tuesday.
China needs ‘key reforms’ to support transition to high-quality growth, IMF says: Property deleveraging and Beijing’s regulatory tightening on Big Tech have increased policy uncertainties, and the IMF says financial risks should be clearly addressed.
Property, Covid-19 challenges to remain with China’s economic slowdown to continue in 2022: China’s economy grew by 4.9 per cent in the third quarter of 2021 compared with a year earlier, down from the 7.9 per cent growth seen in the second quarter.
Easing US-China tensions requires more dialogue: Ten months after he was sworn into office, Joe Biden has finally held a meeting with Xi Jinping. The summit was online, not face to face. But after many months of rising tensions between Washington and Beijing, the very fact that the US and Chinese leaders spoke for three hours was important.
Chinese Communist Party resolution cements Xi Jinping’s leadership, putting him on par with Mao, and paves way for legacy-defining third term. The Central Committee’s 6th plenum ends with adoption of third historical resolution in party history, puts Xi on the same level as Mao Zedong and Deng Xiaoping.
China trade: surging export prices mask falling volumes, but turning point looms as Christmas orders dry up. China’s exports in October again beat expectations by growing 27.1 per cent from a year earlier. But analysts say surging prices have propped up the value of exports and concealed declining export volumes for some products.
Cainiao, the logistic arm of Alibaba, officially launches its European eWTP hub at Liege Airport: Cainiao Network, the logistics arm of Alibaba, has officially opened and put into service its first warehouse located on the edge of the runways at Liege Airport.
RCEP trade deal reaches ‘milestone’ after ratification by Australia and New Zealand. The Regional Comprehensive Economic Partnership (RCEP) trade agreement will take effect at the start of January RCEP groups the 10 member states of the Association of Southeast Asian Nations (Asean) plus Australia, China, Japan, New Zealand and South Korea.
China holds the financial key to huge carbon emission avoidance. Coal power generation needs to be phased out quickly to achieve the targets of the Paris Agreement. Cost-competitive renewable energies are already pushing coal out of the market in many countries. Nevertheless, some countries are still constructing new coal-fired power plants. China is an important part of this puzzle.
Profits at China’s industrial firms jumped 16.3 per cent year on year to 738.74 billion yuan (US$115.7 billion), quickening from the 10.1 per cent gain in August. China’s industrial sector has been hit by the surging price of coal, supply shortages and power rationing triggered by coal shortages due to emission reduction targets
Chinese President Xi Jinping and Belgium’s King Philippe on Monday exchanged congratulatory messages on the 50th anniversary of bilateral diplomatic ties. In his message, Xi said he attaches great importance to the development of China-Belgium relations and stands ready to work with King Philippe to take the 50th anniversary of the establishment of diplomatic ties as an opportunity to push for new achievements in China-Belgium relations and make new contributions to the development of China-Europe relations.
Why China’s slow economic growth is a bigger headache than its energy crunch and Evergrande’s debt crisis: The problems in the energy and property sectors, though serious, do not pose a systemic risk to the economy, despite the alarming news headlines.