China’s film industry has entered a deep winter amid the communist regime’s draconian COVID-19 lockdowns, with box office attendance in the first half of 2022 down nearly 40 percent year-on-year and no clear sign of recovery. Despite the summer holiday, which is the peak season for China’s film industry, box office sales have been lackluster…
China’s Film Industry Saw 40 Percent Box Office Drop in the First Half of 2022
Feed Shortage Leads to Pig Cannibalism, China’s Economy Worsens
July 30, 2022
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Asia & PacificCCP VirusChinaChina Business & EconomyChinese RegimeINSIDE CHINAJiangxiSocial IssuesWorldzero-covid policyZhengbang
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A video showing pigs eating a deceased pig on a farm in China went viral recently. Some of the pig farmers, working for a major Chinese financial group, said that the cannibalism occurred because of feed shortages. One expert believes that feed shortages are a reflection of bigger problems in China’s economy. Since July 24,…
China’s Mass Testing Brings Big Profits to Makers of Virus Test-Kits
China’s reliance on mass testing to achieve “zero-COVID” has brought huge profits to virus test-kit makers. A number of biotech companies have reported substantial profit growth for the first half of 2022. Among them, Tianjin City’s Jiu’an Medical Electronics Co., Ltd. posted a net profit of over 15.1 billion yuan ($2.24 billion), an increase of…
More Than Two-Thirds of Chinese Bankers Are Not Optimistic About China’s Economy: Survey
July 13, 2022
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banking industryChinaChina Business & Economychinese bankersChinese economymonetary policyzero-covid policy
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A new survey shows more than two-thirds of Chinese bankers are not optimistic about China’s current macroeconomic climate. On June 29, the People’s Bank of China released its latest nationwide Banker Survey Report (pdf), showing various indices about the country’s macroeconomic climate, banking industry, loan demand, and monetary policy. The central bank report indicated that…
Chinese Steelmakers Report Crippling Losses From Weak Demand
July 10, 2022
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Business & MarketsChinaChina Business & Economychina's property marketcommoditieseconomyexcavatorsInvestmentmachineryMarketssteel millssteelmakerszero-covid policy
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Chinese steelmakers have reported significant losses from weak demand and low prices. Data released on June 28 showed that only 15 percent of Chinese steel mills remain profitable, a 27 percent drop from the first quarter and a 59 percent plunge compared to the same period last year. According to China’s National Bureau of Statistics,…
Over Half of South Korean Companies in China Seek to Reduce Operations or Withdraw: Survey
July 3, 2022
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Asia & PacificBusiness & MarketsChinaChina Business & EconomyCompanieseconomySouth KoreaWorldzero-COVIDzero-covid policy
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Over half of South Korean companies are preparing to either reduce or withdraw businesses from China over its stringent zero-COVID measures, according to a recent survey. Meanwhile, some 40 percent of the respondents urged the South Korean government to intervene by informing the Chinese regime of their losses and providing solutions. In mid-June, the Shanghai…
Chinese Stock Markets Plunge as Xi Calls for Sticking to ‘Zero-COVID’ Policy
June 30, 2022
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Business & MarketsCCP VirusChinaChina Business & EconomyChina Human RightsChina’s stock marketINSIDE CHINASpecial TopicsWuhanXi Jinpingzero-covid policy
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News Analysis China’s Shenzhen Stock Exchange (SZSE) and Shanghai Stock Exchange (SSE) slumped on June 29 following Chinese leader Xi Jinping’s speech in Wuhan. He stressed the need to strictly enforce the “zero-COVID” policy and warned against “herd immunity” in dealing with the pandemic. Xi delivered the speech in the early afternoon of Tuesday in…
Investors Lose Confidence in China
June 29, 2022
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Business & MarketsBusiness ColumnistsChinainvestment riskOpinionThinking About Chinazero-covid policy
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Commentary China investment risk is rising due to the ongoing threat of COVID-19 lockdowns, possible sanctions for Beijing’s support of Russia and the Burmese military government, as well as long-term damage done to the Chinese economy by Xi Jinping’s campaigns to crack down on the tech, education, and property sectors. Investor confidence surveys find that…
Aftermaths of the Shanghai Lockdown Linger
June 23, 2022
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ChinaChina Business & Economychina decouplingchina foreign investmentChinese emigrationChinese Regimeshanghai lockdownzero-covid policy
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On June 1, Shanghai lifted its two-month-long Covid lockdown, declaring that work and production would resume, except in the “controlled areas” where residents still undergo regular nucleic acid testing. As a result of Beijing’s zero-Covid policy, some commentators believe that residents and businesses alike have reflected on the impact of the communist authority’s extreme measures…
Refusing to Pay for Mass COVID Testing, China’s Medical Insurance Fund Shifts Responsibility to Local Governments
As of today, at least 10 Chinese metropolises, each with a population of over 10 million people, have required regular nucleic acid testing for COVID-19 of their citizens. The public is now questioning the cost incurred as well as who should pay those costs. Nucleic acid tests for COVID-19 are also known as PCR tests….
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