China Business Now

China's home prices continued to fall for a ninth month in May, though the pace of decline slowed, showing a still fragile real estate demand.

 

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China's May industrial production expanded 0.7 percent year-on-year, reversing a drop of 2.9 percent in April, indicating strong signs of rebound and resilience of the world's second-largest economy after Omicron flare-ups dealt a heavier-than-expected blow to major economic activities last month.

 

https://m.21jingji.com/article/20220615/herald/9f8b25f8f8a9279e11a30047fe8c211d.html

China will establish and improve the transfer payment system and gradually increase the scale of general transfer payments prioritising underdeveloped areas, the guideline said, adding that local governments will appropriately strengthen the construction of education, science and technology research, social security, food security, as well as major infrastructure projects.

 

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The bilingual hosts, provided by the live commerce platform Oriental Selection owned by the New Oriental Education, has recently gained popularity with more than 1.3 million fans participating in three days, making live-streaming with cultural connotations a trend in China. 

 

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After a period far beat market expectations, China's export growth rate is to reach 16.9 percent in May amid the waning impact of the pandemic on logistics, production and custom clearance. In May, China's exports stood at $308.25 billion, up by 16.9 percent on a yearly basis, significantly rebounding from the 3.9 percent growth rate in April.

 

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China's foreign exchange reserve rose in May after a four-month decline, as the values of financial assets in major countries stayed mixed with the US Dollar Index falling slightly, but the long-term solid fundamentals of the Chinese economy will continue to support the overall stability of the nation's foreign exchange reserve.

 

https://m.21jingji.com/article/20220608/herald/72ab90ed1849f37b9717c6e7cda09b40.html

China's national college entrance examination, or gaokao, was held on June 7 and 8 on hot summer days. This year also marks the 45th anniversary of the resumption of the gaokao system. The number of examinees of gaokao hit a record high in 2022. According to the Ministry of Education, the number of applicants for this year’s national college entrance exam has reached 11.93 million, an increase of 1.15 million over last year, or up by over 10 percent. 

 

https://m.21jingji.com/article/20220607/herald/b63b5b32d62cf80f24fa1300509a45bd.html

China raked in 25.82 billion yuan in revenue from domestic tourism during the Dragon Boat Festival holiday.

 

https://m.21jingji.com/article/20220606/herald/3a851686fc9864e3e219ee4b838b9805.html

Chinese provinces resume inter-provincial group tours ahead of holiday to boost tourism.

 

https://m.21jingji.com/article/20220602/herald/b1e668444e698bfdeb4d9275c6abed44.html

Shanghai fully restores the normal order of production and living across the city starting today. Shopping malls, convenience stores, pharmacies and other commercial outlets are resuming offline business in an orderly manner, with the total visitor flow capped at 75 percent of the maximum capacity. The same requirements also being implemented at cultural and tourism venues, stadiums and A-level tourist attractions.

 

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