China is focusing its attention on building a regulated platform economy that can drive the country’s economic recovery. That was the message from Chinese Premier Li Qiang to platform companies during a session on 12 July. How will platform companies respond? Lianhe Zaobao correspondent Chen Jing looks into the recent development.
The current environment in China is far from conducive for university students to find a job, much less one that matches what they studied. Even if their finances allow and they embark on postgraduate studies, their employment prospects may not always improve when they finally enter the job market. It is not even a question of dropping one’s ego and accepting any job that comes along; structural challenges with the employment market may necessitate making hard decisions and exercising a lot of patience.
China’s property market has been in the doldrums, and prices have been falling, not least in Shanghai. And as prices in Shanghai fall, so will prices in other Chinese cities. Zaobao correspondent Chen Jing looks at the impact of property market movements on the overall Chinese economy.
With China barring domestic operators of critical information infrastructure from procuring products from US chipmaker Micron as the latest move in the China-US chip war, there are concerns about whether moving too strongly might lead to China hurting itself instead. Zaobao correspondent Chen Jing takes a look at how the chip war might play out.
Local governments are teetering dangerously close to bankruptcy, going by the amount of debt that they have racked up. While their financial troubles are likely to ease with the China’s post-Covid economic recovery, the central government is still expected to step in to prevent regional economies from toppling like a house of cards. But will certain forms of intervention do more harm than good?
China’s exports grew by 14.8% in US dollar terms in March from the year before, ending five straight months of decline. But a spike in exports may be a false hurrah for China’s economic economy, given the mixed signals from different data indicators. Levels of consumption and inward investment are important as well, and the improvement of these factors will need to take into account the impact of US-China tensions on foreign enterprises in China.
Controversy over the ‘ice cream incident’ aside, the explosive popularity of the Shanghai Auto Show, along with the earlier Canton Fair, signals the “revenge recovery” of the expo economy.
China’s top officials have set out the target for the country’s economic growth and drivers for 2023, but the real work is just beginning. To meet economic growth targets and ensure economic recovery, it seems that the basic idea is to boost domestic demand and support the private sector.