The economy is moving fast
Newest, March reading of the economic/activity index of industrial production PMI in China (Manufacturing Purchasing Managers Index / 制造业采购经理指数) 51.9 points. It is simply a confirmation of the revival of the Chinese economy, its recovery after the epidemic. At the same time, it should be stressed that companies operating in China inactive face unresolved problems specified as insufficient marketplace demand, limited access to capital and advanced operating costs.
The foundations of the country's economical recovery require further consolidation.
This is confirmed by another data that indicate that there are many risks facing the Chinese economy, although different from those faced by the European economy.
For example, inflation measured in consumer goods prices (CPI) in March was inactive low (+0.7%). Its highest level over a 12-month period was recorded in September last year erstwhile it was 2.8% y/y. This level of inflation allows the Chinese authorities to presume that they have the chance to stimulate more the fiscal and/or monetary economy of the State of the mediate East.
The mild inflation recorded in China can be attributed, among another things, to advanced supply on the consumer marketplace and falling food prices.
At the same time (the last 12 months) prices of producers are decreasing strongly. In March, the PPI index fell to -2.5% y/y. It's the biggest drop in 3 years. Deflation is expanding in the production sector, due to the decreasing prices of natural materials, materials and components, which are presently happening worldwide. There is besides a weak global request in China (obviously in the “world factory”) and a comparatively slow pace of recovery of home demand.
Source:
Data: State Statistical Office (国家统计局)
New minimum wage
As of the first April of this year, fresh minimum wage rates have entered into force in individual provinces and cities separated by China. In this category, as usual, they were headed
- Shanghai (2590 RMB, c.1616 PLN),
- Shenzhen (2360 RMB, c.1473 PLN),
- Beijing (2320 RMB, c.1448 PLN),
- GuangDong state (2300 RMB, approx. PLN1435) and
- JiangSu state (PLN 2280 RMB, c.1390).
In turn, the lowest minimum wages in the country were established in provinces
- QingHai (1880 RMB, c. 1173 PLN) ,
- Tibet (1850 RMB, approx. 1155 PLN),
- JiangXi (1850 RMB, c. 1155 PLN),
- HaiNan (1830 RMB, c. 1142 PLN),
- GanSu (1820 RMB, c. 1136 PLN) and
- GuangXi (1810 RMB, approx. 1130 PLN).
Source:
Reserves hold tight
At the end of March this year, China's abroad exchange reserves denominated in US dollars amounted to USD 3.184 trillion (approx. PLN 13,655 trillion). This is USD 50.7 billion (about PLN 217.38 billion), which is 1.62% more than in late February this year.
Source:
Shanghai has ambition...
...becoming a global hub for sporting, national and global events. This year, the city's authorities have planned more than 120 sporting events of different format, kind and range. Shanghai will be the venue for 83 national and 38 global competitions covering 43 sports disciplines in 2023.
Source:
http://sh.people.com.cn/n2/2023/0402/c134768-40361098.html
Chinese stock exchanges attract investors
In February this year, the number of individual investors on the local stock exchanges increased by 1.67 million (statistics include only Shanghai and ShenZhen, they do not include exchanges in Hong Kong and Beijing).
Data published by China Securities Depository and Clearing corp Ltd. (中国证券登记结算有限责任公司) show that at the end of February this year on the Chinese securities marketplace There were 214.65 million investors registered (more than 15% of the full population).
China Securities Depository and Clearing corp Limited, in short CSDC or ChinaClear (中国结算), is simply a central securities depository of China, based in Beijing, liable for all deposit and clearing services for Shanghai and Shenzhen exchanges.
CSDC was created in 2001 by merger
- Shanghai Securities Central Depository and Clearing corp and
- Shenzhen Securities Depository Corporation,
responsible for deposit and clearing services on Shanghai Stock Exchange and Shenzhen Stock Exchange.
Source:
13 years in first place
Chinese industrial production ranks first in the planet in size continuously for 13 years. The calculations of the Ministry of manufacture and Information Technology (工业和信息化部) indicate that Chinese industrial production already accounts for nearly 30% of the full global production.
Source:
http://caijing.chinadaily.com.cn
First cruiser
This year, after completion of the finishing work, the first “cruiser” built entirely in China, or a large cruise ship, is planned. This cruiser will measurement 323.6 metres long, 37.2 metres wide and will scope a gross tonnage of 135 500 tons. In the 16-story residential part of the ship there will be 2125 rooms-rooms which will be able to accommodate 5246 passengers, as well as a large amusement center, restaurants, bars, cafes, buying malls, children's playgrounds, art salons, SPA centres, water parks and another attractions. The ship will be equipped with the most advanced wireless communication technology, allowing users to freely choose between WiFi and 5G mobile networks.
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Transformation 1+6+N
The largest restructuring in the 24-year past of Alibaba (阿里巴巴) corp begins, which is at the same time the largest specified operation in the Chinese technology industry.
The launch of this process was announced in his letter to Zhang Yong (张勇), CEO and CEO of the Alibaba Group.
The letter is entitled “ Only by changing ourselves can we make a future” (唯有自我变革,才能开创未来).
According to the restructuring plan presented, the Alibaba Group will be divided into six independently managed entities (companies):
- Cloud Intelligence Group (云智能集团) – cloud data management;
- Taobao Tmall Commercial Group (淘宝天猫商业集团) – e-commerce platforms and their surroundings;
- Local Life Service Group 本地生活集团 – applications utilized daily: courier transportation (Ele.me), bicycle rental, photograph services, car, laundry, service cleaning, etc.;
- CaiNio Group (菜鸟集团) – smart logistics, express delivery, retention and another activities related to the creation and operation of supply chains;
- International Digital Business Group (国际数字商业集团) – e-commerce crossborder, AliExpress;
- DaWenYu amusement Group (大文娱集团) digital media, entertainment, film)
Each of the companies will be managed by a separate CEO in charge of a separate management company which will be full liable for the company's performance. These entities will independently rise funds and apply to enter national or abroad exchanges as part of the IPO public offering.
Under the direct management of the Alibaba Group (阿里巴巴集团), Taobao Tmall Commercial Group (e-commerce in the interior market) will remain. As a consequence of the restructuring, Alibaba will become a holding company.
The main nonsubjective of these changes is to improve the organisation, increase its efficiency and reactivity to marketplace developments in each of these companies' circumstantial marketplace niches. This applies primarily to competition and consumer behaviour, which require fast response, i.e. a short decision-making way within companies.
Source:
These restructuring changes were accepted by Jack Ma Yun (马云), the founder of the corporation, presently holding no function. Jack Ma had late returned to China, after being in Tokyo since the end of 2021, where he and his household went. During this period, Jack Ma visited the United States, Israel, Denmark, Australia and Thailand. Currently, it focuses on the activities of its educational foundation (development of education in agrarian areas) and foundations promoting modern agriculture.
As part of the erstwhile reorganisations with the Alibaba Group, Ant Technology Group Co., Ltd. (蚂蚁科技集团股份有限公司) was separated from the company that owns the AliPay mobile payment system, which deals with the lending of microcredits, moving the Cif bank, etc.
Not allowed?
HongKong Securities and Futures Commission (香港证券及期货事务监察委员会) announced that in June this year it would present fresh regulations regarding the trading of cryptocurrency and making transactions utilizing cryptocurrency. The goal is ambitious – to make Hong Kong a global cryptocurrency centre. Interestingly, cryptocurrency trading and trading are completely banned in mainland China.
Is the "one country – 2 systems" intended to be extended by a different approach to these circumstantial digital assets? We will find out after the central financial marketplace regulation institutions have decided.
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Seniors with smartphones
According to a monitoring study, more than half of Chinese 65-69-year-olds usage smartphones to monitor the wellness and household happiness of older people in China. 82.2% of them usage cameras to conduct video conversations, 55% to read news, watch movies, series, and television.
32.1% of seniors aged 70-79 usage mobile phones.
And only 1.3% of people over 100.
The most popular telephone call among seniors purchased operator offices is RedMi K60. This is not the cheapest telephone on the market: on average it costs 2469 RMB (about 1576 PLN). On the another hand, seniors buy smartphones for themselves at the price of 1100 RMB (approx. 702 PLN).
Source:
According to data from the State Statistical Office (国家统计局) in late 2022 there were over 280 million people over the age of 60 surviving in China, they accounted for 19.8% of the full population.
New subject – Artificial Intelligence (AI)
The state of Zhejiang introduces fresh subjects to primary and secondary schools. This subject is “knowledge of Artificial Intelligence”. The fresh subject will be included in the mathematics and discipline curriculum.
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Kindergarten and their staff
GuangDong state introduces fresh rules for the functioning of kindergartens.
The maximum number of children in the group is:
- for the youngest "little" (3-4 years) – 25,
- for ‘means’ (4-5 years) — 30
- for ‘old’ (5-6 years) — 35.
Each pre-school group should be run by at least 2 full-time teachers and 1 kid care individual (or 3 full-time teachers). They must show documented qualifications of pre-school teachers.
Child care providers must have at least secondary education, although higher education is preferred. They must besides have a certificate of completion of applicable courses and training in childcare and early school care.
In the case of kindergartens that recruit children with peculiar needs, it is required that teachers with peculiar pedagogy education be provided with a higher than recommended minimum. This is peculiarly the case for welfare staff.
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Author: 梁安基 Andrzej Z. Liang, 上海 Shanghai, 中国 China
Email: [email protected]
Editorial: Leszek B.
Email: [email protected]
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