China economy

Global Times

Inserted 2 years ago

“The China-US trade war has lasted for more than three and a half years. Instead of being weakened, China's economy has taken a step forward in comparison with the scale of the US. The Chinese people are more confident and their stamina continues to increase. We are clearly aware that all this is the basis for the US to consider using non-trade war coercive methods to discuss issues with China.”

Globaltimes

Editorial piece

05 Oct 2021 4 3

Andrew Grantham

Inserted 2 years ago

“While there's no certaintly, our base case is that this plays out more like an episode of the property show 'Love it or List it?'. Cracks in the foundation and a number of other problems are revealed. But, when the dust settles, we will end up falling back in love with the Chinese economy again, even if we can't get everything on our current wish list.”

Straight

Economist with CIBC (Canadian Imperial Bank of Commerce)

01 Oct 2021 2 3

Zhiwei Zhang

Inserted 2 years ago

“(Chinese) economic growth in Q4 will likely slow further without a change of government policies, and the pace of slowdown may pick up. The big question is whether the government's monetary and fiscal policies will become more supportive now or if the government will wait till the year-end to change the policies.”

Reuters

Shenzhen-based chief economist at Pinpoint Asset Management

30 Sep 2021 2 3

Zhao Qinghe

Inserted 2 years ago

“In September, due to factors such as low volumes of business at high energy-consuming industries, the manufacturing PMI [Purchasing Manager's Index] fell below the critical point. The two indexes of high energy-consuming industries ...are both lower than 45.0, indicating a significant drop in supply and demand.”

Reuters

Senior National Bureau of Statistics of China statistician

30 Sep 2021 3 3

Gao Lai

Inserted 2 years ago

“We can afford it for just four days, but if it's for longer, then the costs are too much, so we can't survive. We are willing to make it work because the country needs it, but if (power curbs continue) in the long run, we have to think of a way out.”

Taiwannews

Chinese businessman who runs an industrial laundry service in Shenyang, the capital of Liaoning

30 Sep 2021 1 4

Sang-hyun Park

Inserted 2 years ago

“The real crisis looming in the Chinese economy does not concern 'Evergrande,' but the power shortage. Market watchers expect the Chinese government to continue to push for a strong carbon-neutral policy ahead of the Beijing Winter Olympics scheduled from Feb. 4 to 20 next year [2022], and this could significantly slow industrial activities. China has tightened production regulations in line with a green initiative. The recent surge in the price of aluminum is explained in large part by production difficulties due to stricter environmental regulations, compounded by rising demand from eco-friendly industries including manufacturers of EVs and batteries.”

Koreatimes

Chief economist at HI Investment & Securities

29 Sep 2021 8 5

Adam Tooze

Inserted 2 years ago

“Unlike the disastrous chain reaction at Lehman, this is a controlled demolition, deliberately triggered by the regime. Beijing is doing what critics have been asking China to do for a while - to deflate the housing bubble. It is doing what the west did not do in 2007-2008, ie use regulatory intervention to manage a hard landing short of an outright crash. Evergrande is like Lehman in that it has speculated on real estate. It has a lot of debt spread across the entire Chinese economy and Chinese society. It is opaque. It is worrying But is Evergrande really Lehman? Closer examination suggests that the Evergrande crisis is not like Lehman at all.”

Theguardian

History professor at Columbia University

22 Sep 2021 5 5

Evergrande

Inserted 2 years ago

“The rumors about Evergrande's bankruptcy and restructuring that appeared on the internet recently are totally untrue.”

Nytimes

News released by the company Evergrande

13 Sep 2021 1 4

Wang Jun

Inserted 2 years ago

“Stagnant consumption data has made clear that it's urgent to increase people's incomes and focus more on distribution fairness.”

Taiwannews

Deputy Director-General of Department of Consulting Research in the China Center for International Economic Exchanges

17 Aug 2021 4 2

Zhu Ning

Inserted 2 years ago

“It's probably important, especially for international investors to note, there is a big and deep change of philosophical thinking on the economic policy, what's more important in China's economy. Foreign investors need to understand and (brace) for that.”

Cnbc

Professor of finance and deputy dean at the Shanghai Advanced Institute of Finance

11 Aug 2021 2 3

Park Won-gon

Inserted 2 years ago

“It will be just a matter of time before U.S. allies, many of them trading partners with China, see themselves stuck between the Washington-Beijing row. Being faithful in observing U.S. policy may result in possible retaliation from China under its new law.”

Koreatimes

Professor of North Korean studies at Ewha Womans University

25 Jun 2021 2 3

Joshua Mok

Inserted 2 years ago

“It may create a false expectation for those highly skilled people. The Chinese government has to watch out about how to manage these sorts of expectations. What the current Chinese economy needs is more people that have technically oriented qualifications, rather than only general academic degrees from universities. There's a mismatch of skills.”

Nytimes

Professor at Lingnan University in Hong Kong who studies China’s education policy

18 Jan 2021 5 3

Xi Jinping

Inserted 3 years ago

“I am proud of our great motherland and people, as well as the unyielding national spirit. Only in hard times can courage and perseverance be manifested. Only after polishing can a piece of jade be finer. We overcame the impact of the pandemic, and made great achievements in coordinating prevention and control and in economic and social development. The 13th Five-Year Plan has been accomplished in full. The 14th Five-Year Plan is being comprehensively formulated. We are accelerating the pace to set up a new pattern for development, and are deeply implementing high-quality development. China is the first major economy worldwide to achieve positive growth, and its GDP in 2020 is expected to step up to a new level of 100 trillion yuan. China has seen a good harvest in grain production for 17 years in a row. China has seen breakthroughs in scientific explorations like the Tianwen-1 (Mars mission), Chang'e-5 (lunar probe), and Fendouzhe (deep-sea manned submersible). Construction of the Hainan Free Trade Port is proceeding with vigor.”

Globaltimes

President of the People's Republic of China

31 Dec 2020 2 3

Scott Morrison

Inserted 3 years ago

“Australia is not and has never been in the economic containment camp on China. No country has pulled more people out of poverty than China. And Australia is pleased to have played our role in the economic emancipation of millions of Chinese through the development of the Chinese economy. Australia desires an open, transparent and mutually beneficial relationship with China as our largest trading partner.”

News

Australian Prime Minister

23 Nov 2020 2 2

Max Zenglein

Inserted 3 years ago

“In my view, China is trying to bring globalization into the country. This should ensure supply chain security, especially in the high-tech sector. It must also be taken into account that the Chinese Communist Party is extending its influence to private companies. This would also be part of equal treatment, but this could be problematic from a European perspective. China increasingly sees itself in a position of strength and does not shy away from using it. This shows that economic relations with China also have a political price.”

International

Chief Economist at the Mercator Institute for China Studies (MERICS)

20 Nov 2020 1 3

Xi Jinping

Inserted 3 years ago

“Openness enables a country to move forward while seclusion holds it back. China will actively cooperate with all countries, regions and enterprises that want to do so. We will continue to hold high the banner of openness and co-operation.”

Theguardian

President of the People's Republic of China

19 Nov 2020 0 2

Xi Jinping

Inserted 3 years ago

“First, we will expand domestic demand as a strategic priority and ensure smooth flow of economic activity. In recent years, China’s development model of reliance on foreign markets and resources has gone through some gradual changes. The ratio of foreign trade to GDP dropped from 67 percent in 2006 to less than 32 percent in 2019, while the ratio of current account surplus to GDP has come down from 9.9 percent in 2007 to less than one percent today. In seven years since the 2008 global financial crisis, the contribution of China’s domestic demand to GDP exceeded 100 percent, making domestic consumption the main driver of its growth. In promoting domestic and international circulations, the Chinese economy has become much more domestically driven and the performance of China’s development has been significantly enhanced. Fostering a new development paradigm will enable China to better adjust its economic structure and achieve high-quality development. China will continue to deepen supply-side structural reforms and further expand domestic demand. Doing so will make production, distribution, flow of goods and services, and consumption in China more based on domestic market, and it will make the supply system better adapt to domestic demand. This will usher in a higher stage of well-adjusted balance where demand drives supply and supply, in turn, creates demand.”

Globaltimes

President of the People's Republic of China

19 Nov 2020 1 1

Xi Jinping

Inserted 3 years ago

“In order to ensure China's industrial security and national security, we must build self-controlled, safe and reliable domestic production and supply chain. We should strive to have at least one alternative source for important products and supply channels to form a necessary industrial backup system.”

Globaltimes

President of the People's Republic of China

31 Oct 2020 1 1

Cao Heping

Inserted 3 years ago

“There are many highlights of the 13th Five-Year Plan, but the biggest one is that these five years showed that the Chinese system and the Chinese model outperformed the long-praised Western system. I think that's the biggest achievement and the biggest asset for our country going forward.”

Globaltimes

Economist at Peking University

26 Oct 2020 2 3

Tian Yun

Inserted 3 years ago

“Given the uncontrollable factors like the novel coronavirus epidemic and trade wars, some of the quantitative targets might be missed. However, as we have been stressing, those figures [double the 2010 GDP in 2020 and average annual growth of 6.5 percent]do not matter anymore; what matters is that the trend for China to make progress in many areas, from economic growth and environmental protection to poverty alleviation, has not been disrupted by all these challenges.”

Globaltimes

Vice director of the Beijing Economic Operation Association

26 Oct 2020 2 4

Ipse Dixit

Ipse Dixit

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“We can afford it for just four days, but if it's for longer, then the costs are too much, so we can't survive. We are willing to make it work because the country needs it, but if (power curbs continue) in the long run, we have to think of a way out.”

“The rumors about Evergrande's bankruptcy and restructuring that appeared on the internet recently are totally untrue.”

“Stagnant consumption data has made clear that it's urgent to increase people's incomes and focus more on distribution fairness.”

“It's probably important, especially for international investors to note, there is a big and deep change of philosophical thinking on the economic policy, what's more important in China's economy. Foreign investors need to understand and (brace) for that.”

“It will be just a matter of time before U.S. allies, many of them trading partners with China, see themselves stuck between the Washington-Beijing row. Being faithful in observing U.S. policy may result in possible retaliation from China under its new law.”

“Openness enables a country to move forward while seclusion holds it back. China will actively cooperate with all countries, regions and enterprises that want to do so. We will continue to hold high the banner of openness and co-operation.”

“There are many highlights of the 13th Five-Year Plan, but the biggest one is that these five years showed that the Chinese system and the Chinese model outperformed the long-praised Western system. I think that's the biggest achievement and the biggest asset for our country going forward.”

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