Economics
中国减贫成就、挑战与展望
This blog is the first piece of a series produced to commemorate End Poverty Day (October 17), focusing on China – which has contributed more than any other country to global poverty reduction – and its efforts to end extreme poverty by 2020.
China’s success in poverty reduction has attracted worldwide attention. In 1982, China launched the “Sanxi Program” in the poorest regions in Gansu and Ningxia, marking the beginning of planned, organized and large-scale poverty alleviation efforts nationwide. In 1986, the government established the State Council Leading Group of Poverty Alleviation and Development, identified poor counties, set a national poverty line, and created special funds for poverty alleviation. In 1994, China launched the Seven-Year Priority Poverty Alleviation Program that was designed to lift 80 million people out of absolute poverty within seven years from 1994 to 2000. In 2001 and 2011, two ten-year poverty alleviation programs were launched to continue the war against poverty. During those three decades, the number of poor people fell sharply, and living conditions and access to public services improved markedly in the poorer regions.
Between 1978 and 2010, the number of poor people in China fell from 250 million to 26.88 million measured with the 1986 official poverty line. Measured with the 2011 poverty line, the number of poor people fell from 165.67 million in 1978 to 55.75 million in 2015. Between 1981 and 2011, the global poor population fell from 1,938 million to 1,011 million measured at US$1.25 a day, with 927 million people lifted out of poverty. In the same period, the number of poor people in China fell from 838 million to 84.17 million, with 753 million people lifted out of poverty.
China became the first developing country to achieve the first Millennium Development Goal of halving poverty. Between 1990 and 2011, China lifted 439 million poor people out of poverty, contributing significantly to global poverty reduction. With continuous increase in grain production for 11 years since 2004, China has been able to feed nearly 20% of the world’s population with less than 10% of world’s cultivated land.
In the same period, per capita incomes among rural farmers increased rapidly. Since 2001, per capita rural net incomes in poverty-stricken counties have increased faster than the national average. Rural infrastructure and public services have improved markedly, including electrification, universal access to compulsory education, rural minimum living standards guarantee scheme, and new rural cooperative medical care.
The country’s poverty reduction offers lessons for other countries. China has carried out poverty reduction in a globalized context, driven by fast economic growth and focused on building poor people’s capacity for self-development. Its approach combines government leadership and support from all social sectors with farmers playing a major role, and integrates general and special favorable policies, poverty alleviation programs and social safety…
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
Business
News Update: China’s Stimulus Falls Short; Sensex and Nifty Decline; Bitcoin Surges Over $82,000
Asian markets showed mixed trends amid China’s stimulus measures and disappointing inflation data. Meanwhile, Indian equities remained stable, with mutual fund inflows rising. Bitcoin surged following Trump’s presidential win.
Business Hook Daily News Podcast
Good evening! Welcome to Business Hook’s daily news podcast. I’m Avni Raja, and today is November 11, 2024. Let’s dive into the day’s top business stories.
Market Reactions and Economic Data
Asian markets experienced a mixed session as investors digested new economic data and stimulus measures from China. The Chinese government announced a $1.4 trillion package targeting local government debt, although analysts deemed it underwhelming. October’s inflation rate of 0.3% fell short of estimates and declined for the second month in a row. As a result, the CSI 300 saw a slight gain, while Hong Kong’s Hang Seng dropped over 1.5%. In India, the Sensex closed below 74,500, and the Nifty ended above 24,100, with a majority of Nifty stocks declining.
Mutual Fund Inflows and Upcoming IPOs
There’s encouraging news in the mutual fund sector, with October seeing net inflows of 2.4 lakh crore rupees, reversing the previous month’s outflows. Record equity inflows have risen to nearly 42,000 crore rupees, reflecting robust domestic investor confidence. In the IPO space, LG Electronics prepares to raise $1.5 billion by listing its Indian arm, with banks like Axis Capital involved in the process, potentially leading to an IPO as early as 2025.
Cryptocurrency Surge
In cryptocurrency news, Bitcoin has achieved new highs, surpassing $82,000. This surge is attributed to Donald Trump’s recent presidential victory, which has favored cryptocurrencies compared to more cautious Democratic approaches. Experts speculate that Bitcoin could surpass $90,000 soon. That’s all for today’s wrap-up. Join us again tomorrow, and check out the Business Hook YouTube channel for more updates.
Source : News Wrap | China Stimulus Disappoints; Sensex & Nifty Slip; Bitcoin Soars Past $82,000
Business
Henry Keswick: The Jardine Scion Who Transformed China’s Business Landscape
Henry Keswick, 86, a key figure in Jardine Matheson, passed away as the U.S. awaited election results, amid heightened tensions in U.S.-China relations during Trump’s presidency.
Henry Keswick’s Legacy
HONG KONG — The world turned its attention to the U.S. presidential election as news broke of Henry Keswick’s passing at the age of 86. A fourth-generation member of the British conglomerate Jardine Matheson, Keswick had a profound influence on the company, which has deep roots in Asia.
Navigating Challenges
Keswick’s leadership spanned significant challenges, including a strained relationship between the U.S. and China, particularly as Donald Trump prepared for his return to the White House. Under his stewardship, Jardine Matheson navigated a complex landscape in retail and real estate that dovetailed with geopolitical shifts.
A Lasting Impact
His contributions to Jardine Matheson and the broader business community have left an indelible mark. As companies reposition themselves amidst evolving international dynamics, Keswick’s legacy will undoubtedly continue to shape the future of the conglomerate he led.
Source : Henry Keswick, the Jardines scion who razed then restored China business
- Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
- Vietnam’s Approach to China: A Balance of Cooperation and Struggle
- 2025 Schedule of Public Holidays in China
- Black Myth: Wukong – how China’s gaming revolution is fueling its tech power
- News Update: China’s Stimulus Falls Short; Sensex and Nifty Decline; Bitcoin Surges Over $82,000
- China’s Import-Export Trends 2024-25: A Thorough Analysis of the Initial 10 Months
