The real property marketplace is coming out of the hole?
In March this year, housing prices on the Chinese primary marketplace have been rising the strongest in 21 months. It's a clear signal that the real property marketplace is gaining vigor. This may besides mean that the crisis facing the housing sector in China has been overcome. Prices of fresh housing grew here in March by an average of 0.5% m/m erstwhile this increase was 0.3% m/m in February. Price increases have been recorded not only in the cities of the alleged first ellipse (Shanghai, Beijing, Canton, ShenZhen), but in rule throughout the country, besides in those cities where there has been a decrease in housing prices for a long time. In a group of 70 different sizes of Chinese cities located in the ‘basket’ of the Chinese Statistical Office, 64 recorded an increase in prices from period to month. This was the first time since February 2019. March is the 3rd consecutive period of price increases in the housing market.
Analysts, however, inform that it is far besides early to presume that the current situation will turn into a constant trend. This may be due to the fact that consumers who have limited assurance in the current economical situation may be unstable. Moreover, analysts point to the impact of a complex demographic situation on the revival of the real property sector, which is likely to be gradual and full of turmoil. In terms of backing developers with mediocre reputation (uncertain condition), or the attitude of authorities promoting the thought that "a dwelling is for life alternatively than for speculation".
Of the 70 cities surveyed, 50 have already introduced a policy stimulating the property market, softened the rules on lending and subsidising the acquisition of housing, increased housing funds and softened the restrictions on the number of properties purchased.
The biggest problem of Chinese housing is comparatively low request with rising deflationary pressure. Further steps are needed to stabilise the real property market. The financial condition of large developers improves, they reduce the requirements for own contribution, the reductions are subject to mortgage interest rates.
According to a central bank survey conducted among savings account holders in early April this year, 17.5% of respondents plan to buy an flat in the next 3 months. 3 months ago, 16% of the respondents expressed that desire.
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A Strong reflection in abroad Trade
In spite of the advanced concerns of China's mediocre abroad trade performance recorded in January and February this year, a strong reversal of the trend took place in March. abroad trade turnover has increased significantly, especially in exports, which has contributed to improving performance throughout the first 4th of this year.
Data: General Administration of Customs of China (中国海关总署)
Chinese exports in March increased by 14.8% y/y (USD) and by 47.5% compared to the month. That's the biggest increase in 10 months. Imports decreased by 1.4% y/y during this period. The March balance of abroad trade on the plus side: amounted to USD 88.19 billion in March (approx. PLN 372.18 billion). Needless to say, these results are better than expected by experts.
However, the abroad trade turnover in the first quarter, counted in USD, was 2.9% lower than in the first 4th of 2022. Exports increased by 0.5% y/y during this period and imports decreased by 7.1% y/y.
The largest abroad trade partner of China is the ASEAN States, representing 15.8% of the full Chinese abroad trade. The second in this category, besides invariably, was the European Union and the 3rd in the United States.
The main driver of China's export growth in March was a strong increase in trade with emerging economies and countries of the Global South. This has compensated for the decline in exports to developed economies. For example, China's trade turnover with Singapore increased by 78.2% and with the Philippines by 23.3% y/y. At the same time, exports and imports to the European Union, the United States or Japan decreased in value terms. Exports to the European Union decreased by 7.1% y/y in January-March, to the US by 17% (import by 1.7%).
This situation contrasted powerfully with the increase in turnover from ASEAN (an increase of 16.1% y/y), Africa (an increase of 14.1%), Latin America (an increase of 11.7%) and Russia (an increase of 38.7% y/y).
China's trade turnover from Russia reached US$53.84 billion in the first 4th (about PLN 227.74 billion). Exports from the mediate to Russia amounted to USD 24.7 billion (about PLN 104.47 billion), which means an increase of 47.1% y/y), and imports of USD 29.77 billion (about PLN 126 billion), which in turn means an increase of 32.6%.
China imports mainly energy natural materials from Russia: oil, natural gas and coal, as well as copper, wood and seafood, as well as fuel. The Russians buy Chinese smartphones, industrial and specialized equipment, cars and vehicles, air conditioners and computers.
Private companies, which made 52.4% of all transactions in the first 4th of the year, inactive dominate abroad trade. The main goods exported by China during this period were:
- electric cars (increase by 122.3% y/y),
- lithium batteries (increase by 94.3% y/y),
- cars and vehicles (growth by .58.3% y/y) – for the first time more than 1 million cars were exported – and
- Photovoltaic panels (23.6% increase).
W The first 4th of this year 57.9% of Chinese exports were highly processed goods, mechanical and electrical equipment.
Despite the good results recorded in the first quarter, it is known that Chinese abroad trade will not make seamlessly this year. It will be affected by factors as diverse as:
- weak external request due to advanced inflation in many countries,
- weak growth in developed economies (recession in Europe and North America),
- growing protectionism.
The instability, uncertainty and unpredictability of the global economy are further challenges.
On the another hand, if the Chinese economy continues to develop, if its situation begins to stabilise clearly as a consequence of closer cooperation with developing countries, Chinese trade could get a known from earlier periods of pace.
Data: General Administration of Customs of China (中国海关总署)
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Tesla does not slow down the pace of expansion
The Shanghai company Tesla signed an agreement to build a fresh mill in Lingang fresh Area of Shanghai Free Trade region (上海自贸区临港新片区). It will be Tesla's second production plant in this free trade zone.
Unlike GigaFactory, which has been operating for 2 years producing electrical cars, the fresh plant is to be called MegaPack. It will produce batteries for cars and battery charging stations. The investment will start in the 3rd 4th of this year, and the aim is that production in the fresh plant will begin in the second 4th of next year. Initially, it is expected to produce 10,000 batteries per year, which will be sold worldwide. Thanks to MegaPack Tesla, it will increase production and reduce the cost of lithium-ion batteries, while besides gathering the increasing request for energy storage.
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https://www.chinanews.com.cn/cj/2023/04-09/9986831.shtml
Satellites for sale
On the TaoBao platform (淘宝) belonging to the Alibaba group (阿里巴巴) in late March this year, the world's first open sale of artificial satellites took place. The live streaming expression offers:
- 1U CubeSat (1U立方卫星) is simply a kind of miniature artificial satellite with standardized sizes, where the primary unit (1U) has at the time of launch a volume of 1 litre with ankle dimensions (cube) of 10×10×10 cm and a mass of up to 1,33 kg. The version offered on TaoBao was equipped with cameras, magnetic torque generators, solar panels, etc. Satellites of this kind are presently utilized in education. In schools that receive satellite signals through satellite motion monitoring substations, students can observe real-time location data collection and thus learn the basis for satellite motion management in Earth's orbits.
- a 200 kg satellite, which is multi-use and can service many users simultaneously. specified devices are utilized in the implementation of distant sensing, communication, navigation projects, as well as various investigation projects.
This livestreaming session besides offered the anticipation to usage satellite services already placed in orbit. In this case, it was mainly about the anticipation of taking photographs of space, Earth, Moon, circumstantial stars and another space objects.
Satellite call prices fluctuated from 2 million RMB (approx. PLN 1.24 million) to 30 million RMB (approx. PLN 18.61 million). After the purchase, buyers are obliged to confirm their circumstantial needs/services, and after the details of the contract have been completed, each of them will gotta wait in line for the correct rocket.
The maker of the satellites sold on the network is BeiJing JiuTian MicroStar Technology improvement Co., Ltd. (北京九天微星科技发展有限公司), a start-up that focuses on the design, improvement and innovative usage of microsatellites and innovative solutions in aviation and aerospace.
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The subject of hot though grave
This time, the cost of buying a burial site in Shanghai cemeteries is simply a hot subject of discussion in the network. The reason for the discussion was the Chinese vacation of the dead QingMingJie (chin. 清明节, besides called the “holy of pure clarity”, “the day of sweeping graves”). And so, for example, at SongHe Cemetery (上海松鹤墓园) in Shanghai, a 0.6 square metre accommodation where you can place a double tomb costs now 341 800 RMB (approx. 213 366 PLN). In the case of a triple tomb located on accommodation units of the same area, you gotta pay 457 800 RMB (approx. 285 780 PLN). The price includes stonework in the border. due to the fact that in the case of a marble tombstone the price increases to 628 800 RMB (approx. 392 513 PLN).
The necropolis administration employees study that current prices find parameters specified as, for example, the geographical orientation of the burial site (compliance with north-south directions, east-west is crucial in Buddhism and feng shui), surroundings, lease time. Currently, the standard period is 70 years.
Two years ago, the lowest price of burial site in this cemetery was 180 000 RMB (about 112 360 PLN). In the last fewer years, the average increase in accommodation prices is 5-10% year-on-year. Shanghai cemeteries are the most costly in the country.
Photo from the authoritative website of SongHe Cemetery in ShangHaiu
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