2026-11-11
A netizen posted their property deed on Xiaohongshu (RedNote), stating that they bought a house in Meishan, Sichuan for 1.6 million yuan in 2019, but now the same unit type is listed for only over 300,000 yuan, with 1 million yuan in bank loans still outstanding.
2026-11-10
A large Maersk container ship, the 'CMA CGM CINCINNATI', lost control while berthing at Yantian Port, crashing into the dock and causing a large quay crane to collapse into the container yard.
2026-11-10
On November 10, multiple netizens filmed an unfinished building near Pingzhou Station in Bao'an, Shenzhen, that had been under construction suspension for a long time, completely wrapped in blue fencing material. Netizens joked that it looked like the Water Cube and claimed it would be restored to its original state after the meeting. Local netizens said they had seen this unfinished building since 2005.
2026-11-09
The first report meeting on studying and implementing the spirit of the Fifth Plenary Session of the 20th Central Committee was held in Beijing. Netizens have been discussing the venue layout and the sitting posture of Zhang Shengmin when he met with members of the lecture group.
2026-11-06
On November 6, a netizen in Qinhuangdao, Hebei, posted a video of the unfinished Dongfudian Xincun project, stating that the project was originally marketed as providing wedding homes for older youth, but it has remained unfinished for 16 years. Many buildings are still in a rough state with exposed brick walls and no doors or windows installed.
2026-10-30
Huafa Shares released its Q3 report, showing a net loss attributable to the parent company of 6.437 billion in the first three quarters. As of September 30, the owner's equity attributable to shareholders of the listed company was only 3.093 billion, a sharp decline from 19 billion within one year.
Location: Zhuhai, Guangdong ·
Importance IV ·
Verification: Official claim ·
View causal chain →
2026-10-23
On October 23, the Ministry of Finance released fiscal revenue and expenditure data for the first three quarters. In September, national land transfer revenue was 233.4 billion yuan, down 23.2% year on year; individual income tax revenue was 138.4 billion yuan, up 10.5% year on year. In the first three quarters, land transfer revenue decreased by 621.5 billion yuan year on year.
2026-10-22
On October 22, the CSI 300 index closed down 1.84%, falling about 20% from its June high and entering a technical bear market; according to Bloomberg, the STAR 50 and ChiNext indices have both fallen about 40% in the second half of the year, and analysts believe the national team may need to buy more and for longer.
2026-10-22
According to a report by Yicai on October 22, from January to September 2026, nationwide urban and rural residents' household electricity consumption was 123.46 billion kilowatt-hours, down 0.3% year-on-year — the first decline for the same period in nearly ten years.
2026-10-21
An in-depth Financial Times report on October 21 pointed out that China's population decline, deflation, weak consumption, and slumping property and stock markets resemble Japan in its day; after the property bubble burst in 2021, new housing starts fell 78% from their peak. Economist Richard Koo argues for stimulating demand through fiscal spending, while Adam Slater does not rule out growth slowing to 2% to 2.5% over the next decade.
2026-10-19
Economic data released on October 19 showed that from January to September 2026, China's real estate development investment fell 20.6% year-on-year, a wider decline than in January–August; national fixed-asset investment fell 7.2% year-on-year; and total retail sales of consumer goods rose 1.1% year-on-year in September, with the growth rate picking up from August.
2026-10-17
On October 17, netizens posted that several real estate developers in Chengdu suddenly held all-staff meetings, announcing a work suspension and furlough, with employees not needing to report to work the next day. Multiple project companies in the Chengdu area were affected, and employees had already received furlough notices.
2026-10
Statistics from JPMorgan at the end of October showed that multiple offshore bonds of Huafa fell by an average of 54 points, causing Huafa Shares' stock price to hit the daily limit and sparking widespread market concern over its debt crisis.
2026-01
From January to May 2026, Beijing's total retail sales of consumer goods fell by 2.5% year-on-year.
2026-09-26
Simulations and calculations show that, in order to hold to the general budget target, the government's continued intensification of tax collection would make the tax base and corporate profits unable to bear the load, and the moment the red line is burned through falls around October 2028.
2026-01
According to data cited in the video, in the first five months of 2026, China's land transfer revenue fell by nearly 30% year-on-year, a steeper decline than for the whole of 2025.
2026
In the first half of 2026, the proportion of Chinese homeowners over the age of 60 listing their properties for sale soared to 22.7%, a significant increase from 11.3% in 2022.
2026-09-21
Reports on September 21 showed that the unemployment rate among non-student youth aged 16 to 24 in China rose to 18.9%, amid a continuing economic downturn. Although multiple economists have warned that AI is unlikely to drive employment, Beijing still plans to invest approximately $295 billion over the next five years to build a national data center network. Xi Jinping emphasized the importance of focusing on "hard power" rather than just GDP.
2026-09-17
On September 17, Evergrande Auto released its 2026 interim results, showing that the company has only 7 employees left, with total assets of approximately 182 million yuan and liabilities as high as 32.722 billion yuan. The company explicitly stated that it has exited the vehicle manufacturing business and has no intention to resume it, with the net profit for the first half of the year mainly derived from exchange gains on borrowings.
2026-09-15
In September 2026, a tenant in Hangzhou said the office building they were in had a high vacancy rate: nearly all the tenants on their floor had moved out, leaving only one company, with many offices sitting vacant and no one renewing the leases.
2026-09-15
In September 2026 a blogger filmed multiple towers in Lujiazui, Shanghai at night, claiming that after 8 p.m. every floor inside the buildings was fully lit while most were actually vacant, and that the interior lighting was artificially produced to create an appearance of prosperity.
2026-09-14
On September 14, 2026, the blogger filmed a nighttime on-site scene in a multi-story office building in Shanghai and found large areas of vacancy on some floors, with corridor lights still on and no one inside the offices. The video shows that the brightly lit exterior of the building actually contains mostly public corridors, while the actual office areas are empty. Data released by several real‑estate consulting firms for the second quarter of 2026 state that the overall vacancy rate of Grade‑A office buildings in Shanghai is between 22% and 23.5%. A JLL report shows the overall vacancy rate of Shanghai Grade‑A office towers at 23.5%, with 19.3% in the Central Business District and 27.1% outside it, meaning that for every four square metres, more than one square metre is vacant. This phenomenon reveals a supply‑greater‑than‑demand situation in Shanghai's office‑building market.
2026-09-10
On September 10, the Yunnan Provincial Department of Transport announced the application status for public institution recruitment. Among them, the "Admissions and Employment Management Post" at the Yunnan Transport Technician College recruited only 1 person, but attracted 5,172 applicants, with 4,953 passing the review and 2,106 completing the payment. This position has no major restrictions and is included in the public institution establishment.
2026-09-11
On September 11, a video circulated online showing a girl searching for and eating leftover food from a trash can, which garnered widespread attention and shares. The comment section for the related video was strictly limited, displaying only 3 comments, while a large number of netizens used bullet comments to express sarcasm and commentary.
2026-09-04
A neighbor said the family bought the house for about 1.35 million yuan in 2021 and paid for renovations; after five years of mortgage repayments, they sold the house for 800,000 yuan. Her husband is unemployed, and the family is under considerable pressure to repay the loan.
2026-09
China's National Bureau of Statistics released fixed-asset investment data for January to August. Investment nationwide fell 7.2% year-on-year, while in the Northeast region fixed-asset investment dropped 25.5%, with Liaoning down nearly 30% in the first half of the year.
2026-09
Since September, Zhuhai Huafa has been seeking to negotiate with at least three Chinese banks, attempting to extend the maturity and lower the interest rates for all its deposits, but was rejected by the banks, which was followed by the default of its trust products.
2026-09
A number of large companies in the Chengdu area have carried out layoffs, with many people job-hunting for as long as two or three months, while small companies have successively suffered losses and gone out of business, showing the impact of the economic downturn on the city's job market.
2026-09
There has been a significant increase in the number of middle-class business owners in Shandong, Henan, and Hebei inquiring about immigration and applying for passports, which may be related to concerns about the domestic economic outlook.
Location: Hebei, Henan, Shandong ·
Importance III ·
Verification: Reported ·
View causal chain →
2026-09
China's published fiscal data shows that in the first 8 months of 2026, revenue from state-owned land transfers exceeded 1.3 trillion yuan, a year-on-year decline of 28.6%.
2026-09
China's fiscal data show that in the first 8 months of 2026, debt interest payments approached 1 trillion yuan, a year-on-year increase of 5.4%.
2026-09
A large number of closed shops and faded 'for transfer' or 'for rent' advertisements have appeared on the streets of Xiamen, with some restaurant owners stating they can no longer afford the rent.
2026-09
A videographer at Huijing Life Plaza near Luban Road subway station in Huangpu District said that multiple shops have closed, with Starbucks, a beef restaurant, a barbecue restaurant and an education and training institution among those that have ceased operations, and foot traffic in the mall is sparse.
2026-09
A videographer at New Continent Plaza in Lujiazui, Pudong, said that many shops in the plaza had already closed, and the shops on the second floor were also relatively deserted.
2026-09
A Shanghai netizen said that in the Changshou Road area, some people who have nowhere to live bring blankets at night and sleep on other people's spare sofas, and when the weather is warm, some also sleep under bridges.
2026-09
In September 2026, independent media entered several office towers in Lujiazui, Shanghai, and filmed large numbers of vacant floors. International companies have moved out and office space has been drastically reduced, yet the buildings remain brightly lit at night, accused of creating an illusion of economic prosperity; property security guards have been withdrawn over unpaid fees, and management is lax.
2026-09
Online reports claim that office towers such as Shenzhen's Future Assets Plaza only turn on their exterior lighting at night while the interiors stand empty, creating the false impression of a brightly lit, thriving building, when in fact many floors are vacant.
2026-08-21
Data released by the Ministry of Finance of the Chinese Communist Party (CCP) shows that land grant revenue across China fell by 31% from January to July 2026.
2026-08-17
From January to July 2026, China's real estate development investment fell 19.2% year-on-year, while data related to newly started projects fell 24%.
2026-08
According to projections based on multiple independent channels, approximately 3.84 million businesses across China permanently ceased operations in the first half of this year, with a half-year exit rate exceeding 11%.
2026-07-30
Data from the National Institution for Finance and Development show that the household sector's leverage ratio stood at 59.0% at the end of Q1 2026 and dropped to 57.7% in Q2, while household mortgage debt has recorded negative growth for 13 consecutive quarters since Q2 2023.
2026-07-22
On July 22, 2026, the Ministry of Finance announced that income from the transfer of state-owned land use rights in the first half of the year was 977.8 billion yuan, down 31.5% year-on-year, the largest decline for the same period in the first half of the year in nearly a decade.
2026-07-22
In the first quarter, 28 provincial-level administrative regions in China had a general public budget self-sufficiency rate of less than 100%, meaning local budget revenue was insufficient to cover expenditures.
2026-07-22
The video cited data showing that China's land transfer revenue in the first half of 2026 was about 970 billion yuan, down 31.5% year-on-year.
2026-07-15
China's real estate investment fell sharply by 18% year-on-year in the first half of this year, and the real estate market continues to decline.
2026-07-15
In the first half of the year, national real estate development investment fell 18% year-on-year, further widening from the previous -15.2%; new residential construction starts fell 23.4%, sales fell 13.6%, and funds received by real estate developers fell 10.2%.
2026-07
The video claims that in 2026 the central government's annual new debt will reach 16 trillion yuan, higher than the 7.2 trillion yuan in 2021.
2026-07
Citing real estate agents, the video says that some homes in Shanghai have been listed for half a year without a single viewing, property transactions are difficult and prices keep being cut, with the market showing prices but no buyers.
2026-07
Shenzhen's housing vacancy rate has reached 60%, and many migrant workers live in harsh group rental houses, reflecting the difficulty of survival for the lower class.
2026-07
The video claims that more than 70% of the debt currently issued by the Chinese Communist Party is bought by banks.
2026-07
The host noted that many private schools in China had difficulty recruiting students last year, with some even receiving zero applications, leading to the closure of some schools. This reflects the impact of the current economic downturn on the education sector.
2026-07
The ten-year government bond yield has fallen to 1.74%, half the average level of the past twenty years, deepening the income crisis for long-term assets such as pension funds.
2026-07
According to CRIC data, from January to July 2026, the cumulative sales volume of the top 100 real estate enterprises was 1,591.8 billion yuan, a year-on-year decrease of 14.6%.
2026-07
A Beijing resident said the price of a villa in the Beijing suburbs fell from around 5 or 6 million to under 2 million.
2026-07
A report released by Cushman & Wakefield shows that by the end of 2025, the vacancy rate for Grade A office buildings in Shanghai reached 23%, while Shenzhen's rate at one point exceeded 30%, reflecting a phenomenon of job losses and personnel outflow.
2026-06-17
At the Shenzhen import and export trade fair, due to a scarce turnout of buyers and suspicions of hiring fake foreigners to pad attendance, hundreds of exhibitors staged a collective protest demanding refunds of tens of thousands of yuan in exhibition fees, while a large contingent of SWAT police confronted and suppressed them at the scene.
2026-06-16
On June 16, 2026, the National Bureau of Statistics released data on changes in commercial residential property sales prices in 70 large and medium-sized cities. In May, new commercial housing prices fell 0.20% month-on-month, while existing home prices fell 0.26% month-on-month, with the declines widening further.
2026-06-16
On June 16, 2026, Bloomberg reported that China's new home prices fell 0.2% month-on-month in May, while the decline in existing home prices was the largest in three months, showing that pressure from the property market adjustment has yet to ease.
2026-06-12
According to the Chinese Communist Party's March budget execution report, the scale of statutory government bonds has officially surpassed 100 trillion yuan, while hidden debt is estimated at no less than 90 trillion yuan.
2026-06
According to statistics from the Magic Mirror Insight monitoring agency, mainstream e-commerce mooncake sales from June to August 2026 totaled 439 million yuan, down 21.6% year-on-year.
2026-05
The National Bureau of Statistics of the Chinese Communist Party released data for January to April, showing a year-on-year increase of 18.2% in total profits, but profits in the real estate chain—such as non-metallic minerals and ferrous metal smelting—plunged sharply, showing extreme divergence.
2026-05
Total retail sales of consumer goods in May showed their first negative value since the pandemic, foreign investment, confidence index, and local government finances all hit record lows, while the official unemployment rate slightly dropped to 5.1%.
2026-05
According to data from the China Index Research Institute, in May 2026 the national average house price fell 3.6% year-on-year and 0.2% month-on-month, indicating the real estate market remains sluggish.
2026-04-25
On April 25, 2026, the blogger went to the Zhaoxin Hui office building in the core business district of Shenzhen for an on-site visit. The building has a grand exterior with 61 floors, but the blogger found that floors 21 to 60 were almost entirely vacant, and most floors were still in shell condition, with only the ground floor and the 61st floor finished. In the video, the blogger questioned why a skyscraper built with huge investment is largely idle, implying that the developer may have issues with cash flow or project progress.
2026-04
In the first quarter of 2026, China issued more than 6.7 trillion yuan in government bonds, of which local government bonds exceeded 3.1 trillion yuan and treasury bonds exceeded 3.6 trillion yuan.
2026-04
According to Cushman & Wakefield data, in April 2026 the vacancy rate for Grade A offices in Kowloon East rose to 20.7%, the highest in all of Hong Kong. In 2025, Kowloon East rents fell 7.9%, while Hong Kong Island East fell 10.5%.
2026-02
S&P’s February 2026 report said that China’s housing supply exceeds demand, and that home prices are expected to fall another 2% to 4% in 2026, with steeper declines in core cities, creating a vicious cycle.
2026-02
In a report in early February 2026, S&P lowered its forecast, projecting that China's property sales would fall 10% to 14% in 2026, compared with a previous forecast in October of a 5% to 8% decline.
2026
According to online claims, based on completed-but-unsold and under-construction potential inventory, China's real estate inventory is about 93 trillion yuan, or roughly 80 million units; no public source can be found for this calculation.
2026
A video claims that the actual transaction prices of second-hand homes in China in 2026 have fallen by about 40% compared with the 2021 peak; the China Index Academy says the average price of second-hand homes in 100 cities fell 7.6% year-on-year in October 2025, and the Mingyuan Real Estate Research Institute estimates that second-hand homes in outer suburbs and similar areas are down 20% to 50% from 2021, while no authoritative source has been found for the 40% figure.
2026
A video estimates that some 60 million to 80 million households in China are slipping down the social ladder due to falling home prices and shrinking net worth; the figure is a video-based estimate with no authoritative source, though reports say falling home prices have drastically shrunk the wealth of middle-class families.
2026
The video cited data claiming that China's property yields are about 2.26%, below the 3.5% benchmark cost of funds, with a net carry of about -1.24%; no public report of this data could be found.
2026
In 2026, the posted one-year lump-sum deposit rate at large state-owned banks was 0.95% and the three-year rate was 1.25%; the video analyzed on this basis that the purchasing power of household savings is being eroded by inflation.
2026
After peaking at 13.42 million in 2024, the number of Gaokao registrations in China has continued to decline, dropping to 12.9 million in 2026, a decrease of 450,000 from the previous year.
2026
A Yao autonomous county in Guilin planned to invest 1.65 billion yuan in building a Yangshou culture-tourism city. After actually putting in 540 million yuan, the funding chain broke, and most of the 11 buildings in the county seat have stood vacant for a long time.
2026
Leiyang, Hunan once claimed that its industrial park had introduced more than 60 enterprises, but in reality, there were only 5 enterprises with fewer than 100 employees.
2026-01
In the first seven months of this year, real estate development investment plummeted 19.2% year-on-year, with newly started floor space, floor space sold, and sales revenue all falling sharply across the board.
2026
According to Caicai magazine, Xiaomi Home has closed more than 2,000 stores within half a year.
2025-12
According to CBRE data, the vacancy area of Grade A offices territory-wide in Hong Kong reached 15.9 million square feet (about 1.48 million square meters) at the end of 2025, with an overall vacancy rate of 17.3% hitting a record high, before falling back to 16.1% in the second quarter of 2026.
2025-04-22
From 2010 to 2024, the permanent resident population of the three northeastern provinces dropped by 14.56 million from a peak of 109 million, including 2.23 million in Liaoning, 4.293 million in Jilin, and 8.043 million in Heilongjiang, bringing the total back to the level of the 1980s.
2025
According to forecasts by CCP statistics departments cited in the video, China's working-age population will decrease by 250 million between 2025 and 2050, weakening the demographic foundation for home purchases and credit expansion.
2025
Affected by the downturn in the real estate market, China's land finance revenue dropped to 4.15 trillion yuan, which has been halved compared to the peak in 2021.
2025
Official data shows that in 2025, nearly 160,000 people nationwide were disciplined for issues such as "inaction, arbitrary actions, and fraud," a year-on-year increase of 16%.
2025
Data from the National Bureau of Statistics show that in 2025, nationwide sales of newly built commercial housing totaled 8,393.7 billion yuan, down 12.6% year on year; in 2021, commercial housing sales were 18,193.0 billion yuan.
2025
In the first three quarters of 2025, China's net direct investment was negative.
2025
In 2025, China's use of foreign capital fell 9.5% year-on-year, marking the third consecutive year of decline.
2025
In 2025, Guangzhou's land transfer revenue fell 23.6% year on year, while land transfer revenue at the municipal level dropped even more sharply, by 37.2%.
2025
According to the 2025 China Sports and Fitness Industry Data Report, the total number of fitness members nationwide in China exceeds 84 million, down 3.44% year on year.
2025
According to conservative estimates by Bloomberg, by the end of 2025, over 100 million of China's 1.1 billion adult population faced overdue debts, accounting for a staggering 10.6%.
2024-01-29
On January 29, 2024, Hong Kong High Court Judge Chen Jingfen issued a liquidation order against China Evergrande, which is indebted by more than 2.4 trillion yuan, stating that it failed to present a viable restructuring plan.
2024
In 2024, China's net direct investment was negative 0.8% of gross domestic product.
2024
Hailun's general public budget revenue in 2024 was 6.77 hundred million yuan and expenditure was 72.64 hundred million yuan, with revenue accounting for about 9% of expenditure.
2024
Hailun budgeted 38.3 million yuan in revenue from fines and confiscations at the beginning of the year, but actual revenue at year-end was 59.51 million yuan, a budget completion rate of 155%.
2023
In 2023, China's net direct investment widened to negative 1% of gross domestic product.
2022
In 2022, net direct investment on China's balance of payments turned negative for the first time, at -0.1% of gross domestic product.
2022
According to reports, by 2022 Zibo's debt increased to approximately 108 billion RMB, doubling from before Jiang Duntao took office.
2021
The value of China's residential housing peaked in 2021, economists say, at roughly six times GDP; estimates cited in the video put it at about 400 trillion to 470 trillion yuan.
2021
China introduced policies targeting after-school tutoring and the private education industry; the video claims that education and training institutions such as New Oriental were hit as a result.
2021
In 2021, China's housing prices peaked, and land sale revenue hit a record high of 8.71 trillion yuan, followed by a significant annual decline.
2020-05-28
On May 28, 2020, at the closing press conference of the Two Sessions, Li Keqiang said that China's per capita annual income is 30,000 yuan, but 600 million people earn only 1,000 yuan a month.
2020-03-16
Driven by the market collapse triggered by the epidemic, the VIX hit a record single-day closing high of 82.69, the highest since its inception in 1990.
2018
A homebuyer in Zhengzhou reported that the property purchased in 2018 cost over one million yuan in total, including the purchase price, down payment, and interest. Listing prices in the same residential compound have since fallen sharply, leaving the buyer facing massive asset losses.
2018
The video claims that between 2018 and 2022, about 100 million households bought homes at peak prices, accounting for more than 20% of all households nationwide; no public source can be found for this estimate.
2016-09
In September 2016, Dushan County in Guizhou broke ground on a nearly 100-meter-tall all-wood Water Company Building despite fiscal revenue of less than 1 billion yuan, taking on nearly 200 million yuan in debt; it later became an unfinished project after the funding chain broke.
2014
Pan Shiyi has stopped acquiring land and begun selling off SOHO assets on a large scale in Shanghai and other locations, cashing out a cumulative total of approximately 30 billion RMB.
2010
Heilongjiang's resident population fell from a peak of 38.33 million in 2010 to 30.01 million in 2025, a decrease of 8.32 million over 15 years.
1992
The video claims that after Japan's bubble burst, in 1992 Tokyo residential land prices fell 19% and commercial land prices fell 13%; no public reports could be found for these specific figures.
1990
In 1990, China's GDP growth fell further to 3.8%, and the economic situation was severe.
1990
In the 1990s, Japan's real estate and stock market bubble burst. According to Nomura Research Institute estimates, roughly $9.3 trillion in national wealth evaporated between 1990 and 2002, and the unemployment rate rose gradually after 1992.