Economy

Shenzhen Buzzes Back: Record-Breaking Spring Festival Travel Surge

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Shenzhen welcomed a phenomenal 9.38 million visitors during the recent eight-day Spring Festival holiday, showcasing a remarkable 79% increase compared to the previous year. This influx signifies a significant rebound in travel enthusiasm following the pandemic’s disruptions, revitalizing the city’s transportation network and local economy. Departure figures mirrored the arrival boom, with a 42% year-on-year … Read more

China Slashes Mortgage Rates in Boldest Move Yet to Rescue Ailing Property Market

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In a bid to revitalize the struggling property market and bolster the overall economy, China has implemented its biggest-ever reduction to a key mortgage rate. This move comes amidst a deepening crisis in the sector, marked by declining sales and financing challenges. The five-year Loan Prime Rate (LPR), a benchmark for banks’ set by the … Read more

Spring Festival Travel Bonanza: Families, Fun, and Future Growth

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China’s recent Spring Festival holiday witnessed a remarkable resurgence in travel, marking a 280% surge compared to the previous year with 13.52 million inbound and outbound trips. This translates to a daily average of 1.69 million journeys, bringing travel close to 90% of pre-pandemic levels. While the tradition of family reunions remains deeply ingrained, with … Read more

Shenzhen holds the lead in IPO applications

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Shenzhen is surging ahead in the race for new listings. As of January 31st, 2024, 58 companies from the city had filed IPO applications, outpacing major competitors like Shanghai and Beijing. This puts Shenzhen in the driver’s seat for 2024, despite a significant drop in applications since stricter regulations were implemented in August 2023. However, … Read more

Beijing Booms with Tourists During Spring Festival Holiday

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Beijing welcomed a staggering 17.4 million visitors during the recent eight-day Spring Festival holiday, a 37.4% increase compared to last year, according to the city’s tourism bureau. This influx led to a 40.6% jump in tourism revenue, reaching an impressive 28.65 billion yuan (about $4 billion). Traditional temple fairs were a major draw, attracting over 5.16 million … Read more

Chinese Innovation Soars: High-Value Patent Numbers Jump 25.7%

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China’s intellectual property landscape is booming, with the number of high-value invention patents exceeding 1.66 million by the end of 2023. This represents a 25.7% increase year-on-year, showcasing the country’s growing commitment to innovation. This surge translates to an average of 11.8 high-value invention patents per 10,000 people nationwide, demonstrating the widespread impact of innovation … Read more

China Powers Ahead in Global Electric Car Race

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China continues to dominate the global market for new energy vehicles (NEVs), accounting for a staggering 63.5% of all sales in 2023. This represents a significant jump from the previous year, with China selling a whopping 8.87 million NEVs – an impressive 37% increase. NEV penetration within China itself is also soaring, reaching nearly 30% … Read more

China Leads the Global Hydrogen Charge

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China is revving up its engines for a clean energy future, with the world’s largest network of hydrogen refueling stations powering its ambitious green goals. This versatile fuel source, boasting zero emissions, promises to revolutionize the way we consume energy and combat climate change. Leading the Pack: With over 400 operational hydrogen stations and counting, … Read more

Foreign Investors Remain Bullish on China’s Bond Market

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Foreign capital continues to display strong confidence in China’s bond market, evidenced by a sustained increase in net purchases by foreign institutions month after month. This marks the ninth consecutive month of net foreign buying, with cumulative net purchases exceeding 1 trillion yuan in 2023 alone. October witnessed a particularly significant surge, with net foreign … Read more