Business
As China Suffers From Severe Flooding, Regime’s Leaders Disappear From Public
As hundreds of millions are impacted by historic flooding in China, the Communist Party leadership’s noticeable absence drew the attention of citizens and China analysts.
Chinese leader Xi Jinping did not show up in public for 21 days until July 21, when he hosted an economic seminar in Beijing.
Then, on Wednesday, he visited the Siping Battle Memorial Hall in northeastern China’s Jilin province. During China’s civil war, from March 1946 to March 1948, the Kuomintang (KMT) and Chinese Communist Party (CCP) fought four grueling battles in Siping, which killed at least 55,000 soldiers from both sides. The CCP won the first and last battle, while the KMT won the second and third ones.
On both occasions, he did not mention the severe flooding in at least 27 Chinese provinces and regions—caused by heavy rainfall since June. Nor have Xi or other members of the Politburo Standing Committee—the Party’s most powerful decision-making body—visited the disaster areas to command relief tasks, as their predecessors did. Only Premier Li Keqiang has made a brief visit to a flooded village in early July.
The CCP’s top leaders have not appeared much in public throughout 2020.
U.S.-based China political affairs commentator Zhong Yuan noted that this is unusual for the Party. He raised the question of whether the senior officials left Beijing in order to avoid contracting the CCP virus.
Xi Jinping
On the afternoon of July 21, Xi hosted a seminar for entrepreneurs in Beijing, joined by two Politburo standing committee members Wang Huning and Han Zheng, as well as other senior central government officials.
Executives at some of China’s biggest firms were in attendance: Chen Zongnian, chairman and Party leader of Hikvision, the surveillance equipment manufacturer; Ning Gaoning, chairman and Party leader of Sinochem, a state-run oil and gas conglomerate; Huang Li, chairman of Wuhan Guide Infrared, a…
Business
China’s Golden Rooster Film Festival Kicks Off in Xiamen – Thailand Business News
The 2024 China Golden Rooster and Hundred Flowers Film Festival began in Xiamen on Nov 13, featuring awards, cultural projects worth 31.63 billion yuan, and fostering international film collaborations.
2024 China Golden Rooster and Hundred Flowers Film Festival Opens
The 2024 China Golden Rooster and Hundred Flowers Film Festival commenced in Xiamen, Fujian province, on November 13. This prestigious event showcases the top film awards in China and spans four days, concluding with the China Golden Rooster Awards ceremony on November 16.
The festival features various film exhibitions, including the Golden Rooster Mainland Film Section and the Golden Rooster International Film Section. These showcases aim to highlight the achievements of Chinese-language films and foster global cultural exchanges within the film industry.
On the festival’s opening day, a significant milestone was reached with the signing of 175 cultural and film projects, valued at 31.63 billion yuan ($4.36 billion). Additionally, the International Film and Television Copyright Service Platform was launched, furthering the globalization of Chinese film and television properties.
Source : China’s Golden Rooster film festival opens in Xiamen – Thailand Business News
Business
China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
China’s new home prices fell for the 17th month in October, declining 0.5% from September, but slowing, indicating potential market stabilization amid supportive measures. Second-hand home prices showed mixed trends.
Decline in China’s Home Prices Stabilizes
China’s new home prices continued to decline in October for the 17th consecutive month, although the drop showed signs of slowing. Recent support measures from Beijing appear to be inching the market toward stabilization, as evidenced by a lighter decline compared to earlier months.
Monthly and Yearly Comparisons
According to the latest data from the National Bureau of Statistics, new home prices across 70 mainland cities fell by 0.5% from September, marking the smallest decrease in seven months. Year-on-year, prices dropped by 6.2%, slightly worse than the September decline of 6.1%. In tier-1 cities like Beijing and Shanghai, prices decreased by 0.2%, a smaller fall than 0.5% in the previous month.
Second-Hand Home Market Trends
Second-hand home prices in tier-1 cities experienced a 0.4% increase in October, reversing a 13-month downward trend. Conversely, tier-2 cities observed a 0.4% drop in second-hand prices, while tier-3 cities faced a similar 0.5% decline. Overall, recent trends indicate a potential stabilization in China’s property market.
Source : China’s new home prices slow 17-month decline after support measures kick in
Business
Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.
Southern Sun Earnings Surge
Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.
China’s Property Market Recovery
In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.
Broader Economic Implications
The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.
Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24
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