China

AstraZeneca restructures its scandal-plagued China division’s management
17Jan mmBy Joe RodriguezNo Comments
China

AstraZeneca restructures its scandal-plagued China division’s management

Arrest of FTSE 100 pharma group’s country president last year is expected to hit sales Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/7cb45fcd-5a6f-4e2b-9a67-c5a164132883 AstraZeneca has overhauled its local management in China in a bid to move on from recent scandals and revive sales after the arrest of its president in the country.  The FTSE 100 group has appointed new executives to lead its Chinese oncology bus...
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<strong>Mass Layoffs at Foxconn China: A Closer Look at the Ongoing Crisis</strong>
15Jan mmBy Walter ParezNo Comments
China

Mass Layoffs at Foxconn China: A Closer Look at the Ongoing Crisis

In recent months, Foxconn's factories across China have been witnessing waves of mass layoffs and resignations. This has led to long lines of workers, clutching their luggage and accompanied by their families, painfully leaving the premises. In Zhengzhou, large crowds of employees have gathered along Factory Avenues to process their resignations. Videos circulating online show distressed workers standing in queues from morning until midday, highlighting the magnitude of the issue. Social media discussions are abuzz with reports of widespread downsizing, with some speculating that Foxconn may leave China altogether. Footage shows Foxconn dormitories completely emptied, their rooms and windows abandoned. The once-bustling areas filled with street vendors and lively crowds now res...
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Economic Strain Leads Chinese Youth to Abandon Marriage and Family
13Jan mmBy Joe RodriguezNo Comments
China

Economic Strain Leads Chinese Youth to Abandon Marriage and Family

China is witnessing a significant shift in its social fabric, with an increasing number of young people choosing to remain single. The total number of unmarried individuals in China has now surpassed 230 million. This trend has given rise to a generation that values freedom and autonomy over traditional marriage and family life. For many young Chinese, choosing not to marry offers numerous benefits. Staying single provides freedom, allowing individuals to live as they please without worrying about societal expectations. It also brings a sense of mental and physical liberation, as they aren't weighed down by marital responsibilities. China's sluggish economy, high unemployment rates, and intense workplace competition have made it difficult for many young people to see a hopef...
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During its visit to China for the Economic and Financial Dialogue, the UK looks for “common ground.”
12Jan mmBy Mike TrudellNo Comments
China, World

During its visit to China for the Economic and Financial Dialogue, the UK looks for “common ground.”

The UK’s Chancellor of the Exchequer, Rachel Reeves, arrived in China this weekend for the first UK-China Economic and Financial Dialogue (EFD) since 2019 in an effort to seek “common ground” on trade and investment with Beijing. According to the UK Treasury department, Reeves met with her counterpart, Vice Premier He Lifeng, on Saturday for a series of conversations around the support for safe trade and investment. It claims to have resulted in agreements worth GBP 600 million to the British economy as both sides agreed to deeper cooperation across areas such as financial services, trade, investment, and the climate to support secure growth. “By finding common ground on trade and investment while being candid about our differences and upholding national security as the first...
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The China Financial Index of the SEB indicates a decline in market sentiment.
9Jan mmBy Joe RodriguezNo Comments
China, Market

The China Financial Index of the SEB indicates a decline in market sentiment.

SEB's China Financial Index, which measures the business outlook among northern European companies' subsidiaries in China, dropped to 52.0 at the end of the year 2024, from 55.3 in June. The survey shows that respondents consider the business environment to be increasingly challenging.  “Renewed pessimism among the survey respondents reflects the sentiment swings seen among other foreign business players in China. Despite a series of announcements from the Chinese government about its intention to support the economy forcefully, the view seems to be that the measures implemented so far have not been sufficient. Customer demand and local Chinese competition remain top concerns for northern European companies in China. In addition, there are elevated fears in China of a poss...
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Can China’s economy withstand the perfect storm of trade war 2.0?
25Dec mmBy Joe RodriguezNo Comments
China, Market

Can China’s economy withstand the perfect storm of trade war 2.0?

As President-elect Donald Trump prepares to take office in 2025, the looming threat of a trade war poses significant challenges to China’s economy. With new tariffs and economic measures on the horizon, the world’s second-largest economy faces a critical juncture, particularly as it contends with a property slowdown, deflationary pressures, and weakening export growth. This op-ed examines how these factors converge to reshape China’s economic outlook and the global trading system. Exports have been a cornerstone of China’s economic growth, contributing nearly three-quarters of GDP growth in 2024, according to Goldman Sachs. However, the anticipated tariffs—ranging from 10% to a staggering 60%—could significantly erode this growth engine. Economists from institutions like UBS and Nomura...
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The economic implications of a speech that has been suppressed in China
24Dec mmBy Joe RodriguezNo Comments
China, Market

The economic implications of a speech that has been suppressed in China

At this time of year, many policymakers want to know how fast their economies will grow in the year ahead. China’s leaders set themselves a still tougher question: how fast their economy “should” grow. They are seeking not a forecast but a target. A boy poses with a Chinese national flag in front of Tiananmen Square in Beijing.. (Reuters)A boy poses with a Chinese national flag in front of Tiananmen Square in Beijing.. (Reuters)The Central Economic Work Conference will conclude as The Economist goes to press. At the event, Communist Party officials will have debated whether to stick with this year’s growth target of “around 5%”. Their answer, which is not usually revealed until March, will guide fiscal and monetary policymaking in the year ahead, as well as the borrowing and spending p...
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China is now behind the rest of Asia in GDP growth.
23Dec mmBy Joe RodriguezNo Comments
China, Market

China is now behind the rest of Asia in GDP growth.

China’s GDP Growth is Now Lagging the Rest of AsiaThis was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. China’s economy is facing a series of significant challenges, including a property crisis and high youth unemployment. After decades of rapid growth, the country is now expected to experience less economic growth than other Asian nations. This graphic illustrates the projected growth of per-capita GDP for selected Asian nations between 2023 and 2026, based on data compiled by HSBC as of November 2024. Chinese Economy LaggingIndia and Southeast Asian nations are projected to achieve an average per-capita GDP growth of 6.5% over the 2023–2026 period. Most of these...
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What is the outlook for the Chinese economy in 2025?
23Dec mmBy Joe RodriguezNo Comments
China, Market

What is the outlook for the Chinese economy in 2025?

China’s gross domestic product growth slowed during the first three quarters of 2024, from 5.3% to 4.7% to 4.6%, raising fears that the country would not achieve its annual growth target of around 5%. But the latest data suggest that China’s economy is finally turning the corner.Economic activity in China has been relatively weak since the COVID-19 crisis. This was not unexpected, at least not at first: three years of pandemic lockdowns strained household, corporate and local-government balance sheets. Declining business confidence — partly a response to a regulatory crackdown on finance, the property sector and the platform economy — did not help matters. In early 2021, when the United States emerged from the worst of its pandemic lockdowns, American households quickly began spending ...
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The Reasons Behind the Decline in Younger Generation Home Purchases in China’s Real Estate Crisis
21Dec mmBy Joe RodriguezNo Comments
China, Market

The Reasons Behind the Decline in Younger Generation Home Purchases in China’s Real Estate Crisis

Go to college, find a job, buy a house, get married: For decades, homeownership has been seen as an essential part of life in China. Based on that long-standing truth, analysts are forecasting optimistic outcomes for China’s housing market. However, all this may come to an end if China’s younger generation ceases to acquire residential properties. From 2010 to 2020, the proportion of Chinese adults aged 25 to 34 who own homes fell from over 70 percent to 50 percent, with major cities seeing nearly 30 percent of young adults renting their homes, compared to just 11 percent of those aged 45 to 54 This change has been years in the making. Between skyrocketing home prices, the housing market debt default crisis, and a shifting culture, China’s younger generation is facing a vastly diffe...
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