China's investment numbers for 2022 have been revised down by 12%, leading to skepticism about the accuracy of the country's economic data. Hefei, known for producing electric vehicles and tech products, is still affected by China's housing crisis. The CCP's National Bureau of Statistics is accused of manipulating GDP figures to create a 5.2% growth rate for 2023. Evergrande's liquidation is seen as a significant event that could impact China's real estate market and economy. China's corporate debt is also a concern, with record-high bond redemptions and a total bond issuance of 71 trillion yuan in 2023.
#Bond issuances in China totaled 71 trillion yuan (about $10 trillion) in 2023, up 14.8% year on year, according to data from the central bank. https://t.co/VazR6UEuQZ
GIFT ARTICLE Expected, but still a stunner how catastrophic the China CRE & RRE market implosions are now. Context: this is almost 10x the debt Enron carried into bankruptcy. Adding to China’s economic troubles, property giant ordered to liquidate https://t.co/McI0tRnJiB
*EVERGRANDE, CREDITORS COULDN'T AGREE ON RESTRUCTURING PLAN: WSJ* | Never a good sign.... @WSJ
29/01/2024 Headlines 1. Evergrande Liquidation Ordered 2. Oil Dips Amid China Concerns 3. Dollar Gains Ahead of Fed Meeting 4. Fed's Role in US Economic Stability #quanticX #quanticXDailyNews Follow us for more updates! https://t.co/mMCgzsSuZY
Evergrande is the teetering domino that can tumble its real estate peers https://t.co/YNs79HuPkW | opinion
#China has its own #DEBT bubble! - Chinese companies are having a tough time paying off debt, with corporate bonds due to mature in 2024 hitting a record high of 6.8 trillion yuan ($945.53 billion), up about 20% from last year. - Redemption of bonds by Chinese companies in 2024… https://t.co/aSUEdly0jz
Evergrande is the teetering domino that can tumble its real estate peers https://t.co/uF85zW8Jhf
I think giant property company liquidations must occur before we can see a bottom in real estate and therefore the economy in China. It's positive, not negative
China Evergrande: why didn't @HKEXGroup order suspension of the stock BEFORE the #HK Court hearing which put it into liquidation today? The outcome was certain to be price-sensitive, one way or the other. Traders had eyes in an open court room. https://t.co/Pq8pFplfNh https://t.co/Pp2J1TakMY
Breakingviews - Dismantling Evergrande exposes Hong Kong-China gap https://t.co/vGR8VUhxyh https://t.co/vGR8VUhxyh
From Breakingviews - Breakingviews - Dismantling Evergrande exposes Hong Kong-China gap https://t.co/X1pnkXaOGJ https://t.co/X1pnkXaOGJ
For those anxiously reading 🇨🇳 headlines today...& working themselves into a panic: #Evergrande's demise in 2021 didn't lead to a Lehman Moment in #China...& the disintegration of its already dead husk in 2024 won't either. Remember what we know about China's financial system: https://t.co/oOMeEiwylv
On China, don’t let a 5.2% YoY growth rate in Chinas GDP mask the fact that the country's protracted property crisis is deepening despite government efforts. Same goes for retail sales growth. ALL this is colliding with deep-seated structural issues such as an over-reliance on… https://t.co/vFh5HIiw85
China will be the first domino. Evergrande liquidation is worst case scenario and I don’t think most who have monitored this situation thought it would get here. https://t.co/7FK9dSDYuV
These are the CCP's official numbers for fixed assets investment for each year. Have you seen any bigger jokes? In 2023, the national investment in fixed assets (excluding farm households) was 50.3036 trillion yuan, an increase of 3.0% over the previous year. In 2022, national… https://t.co/4WjyirI6w5
I later learned they did "adjust" their 2022 GDP to maintain the 4.1% growth. As a matter of fact, the CCP's National Bureau of Statistics cut the national 2022 GDP too to create a 5.2% growth rate for 2023. But the problem is, they forgot, or couldn't delete all the previous… https://t.co/3r2x70i09u
One way China juices their official growth numbers is to revise down past output to look smaller. This trick can be repeated over and over again, though it means multi-year growth numbers will be lower. https://t.co/uvNWLgJWLq
Hefei has led China in making electric vehicles and other tech products, but it still has not escaped a nationwide housing crisis. https://t.co/4yMVOVlD8D
China just revised down ‘22 investment numbers by 12%… Why/how?!? Well when the past looks much worse…standing still starts to look like growth! This is what you should have expected when they report GDP is 50%+ investment. You have no excuses now to trust the data. https://t.co/OergIJ3Y7V https://t.co/yesBNuNb8O