Economics
“四小”不小，管用就好
This blog is part 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. Read the blog series here.
In April 2016, I traveled to east Sichuan on a fact-finding trip on poverty programs and was impressed by the four small projects that I saw in Fengkanmiao Village in Dayan Township, Nanbu County. The projects focus on small-scale livestock, poultry and fish farming, small orchard, vegetable garden and tree plantation, small workshops for food processing or local traditional products, and small business to sell agricultural produce or grocery merchandise.
“Raising some chicken and ducks in the backyard and pigs requires little investment and brings quick returns. It is practical business,” said 61-year-old villager Zhang Dingke. He told me that he used to rely on farming and live from hand to mouth. And after his two kids got into university, life became even harder. Early last year, he started small-scale poultry and pig farming with some government support, and earned more than RMB17,000 yuan (about $2,530) in income.
China has hit the home stretch in poverty reduction. Thanks to persistent efforts in the past decades, the poor that were easier to help have already gotten out of poverty. Today most of the remaining poor villages are in mountainous areas with little cultivated land, scarce natural resources, and poor road and communication access. People in those villages live in deep poverty.
Poverty is caused by a range of factors: 42% of the people who fell into poverty in China did so because of ill health and related costs. The percentage was even higher in Sichuan at 53.9%. Some poor families do not have any decent furniture. Some do not even have bedsheets or mosquito nets.
The marginal cost of reducing poverty has been increasing, and the task is getting harder. The constraints faced by poor villages include lack of natural resources, poor location and infrastructure, low technical skills and capacity, more old, weak or ill people, and lack of access to basic public services. Their low levels of productivity makes it difficult to develop modern agriculture and high value-added industry.
These four small projects are in alignment with the current level of productivity in poor villages, focused on family-based interventions. But when more than 200,000 poor households engaged in these ‘four small projects,’ it became a big project with greater benefits for the poor.
According to some statistics, under the ‘four small projects’ launched in Nanbu County in early 2015, 1,800 poor households have engaged in the vegetable, fruit, livestock and poultry business; 26,687 mu(4,396 acre) fruit orchards, vegetable gardens and tree plantations have been developed; nearly 12,000 poor households have benefited from small-scale livestock, poultry or fish farming; and 1,600 poor households have worked on making wood or bamboo products, baked…
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
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