2026-10-28
On October 28, Pop Mart submitted a performance update to the Hong Kong Stock Exchange, showing a 45% to 50% year-on-year decline in Q3 sales. Specifically, the Americas market dropped by 70% to 75%, and mainland China saw a decline of 25% to 30%. Since its peak in August 2025, the stock price has fallen by more than half, with a market capitalization of approximately $22 billion.
2026-10-26
On October 26, Bloomberg reported on a Morgan Stanley study saying that the Chinese stock market may not have bottomed out yet, and that offshore Chinese stocks could fall another 10%–15% before approaching historically low valuations, with weak economic consumption, pressure on e-commerce, and fears of tax-triggered selling of trusts intensifying the adjustment.
2026-10-25
Bloomberg reported on October 25 that China's stock market has shrunk by about $3.5 trillion from its high earlier this year in May, with the CSI 300 index falling into a bear market the previous week, as weak consumption and price wars squeeze corporate profits.
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.
2026-10-19
On October 19, the National Bureau of Statistics released data on residents' income and consumption expenditure for the first three quarters of 2026: the national per capita disposable income was 34,230 yuan, up 5.3% year on year; per capita consumption expenditure was 22,354 yuan, up 3.6% year on year, lower than the income growth rate.
2026-10-13
On October 13, the IMF released its latest World Economic Outlook, raising Taiwan's 2026 growth forecast from 5.2% in April to 10.7%, while lowering the mainland's forecast by 0.1 percentage points to 4.5%; Taiwan's growth is mainly driven by demand for AI and advanced chips.
2026-10-11
According to a report by the Financial Times, China's economic growth in the second quarter fell to 4.3%, below the full-year target range of 4.5% to 5%. Retail sales and fixed-asset investment were weak, and the property market has been in a downturn for more than five years.
2026-10-11
Srinivasan, head of the International Monetary Fund's Asia Department, noted that China's growth model of relying on investment, manufacturing and exports is approaching its limits, and suggested improving the social security system, adjusting local government incentives and the land-finance model, warning that otherwise the country could fall into a prolonged slowdown.
2026-10-11
Research by the Conference Board shows that interest payments on the debt of China's central and local governments are expected to reach 1.4 trillion yuan in 2026, far exceeding the roughly 348 billion yuan in 2014; central government debt service is projected to rise to 19.2% of the general public budget.
2026-10-10
According to a Nikkei Asia report on October 10, as of the end of September Kweichow Moutai's market cap stood at 1.57 trillion yuan, with its share price down 43% from its peak. The report attributed this to the economic slowdown, falling housing prices making the wealthy cautious about investing, and the tightening of anti-corruption enforcement and regulation of extravagance and waste in May 2025 hitting demand.
2026-10-08
On October 8, The Wall Street Journal reported that, facing difficulties such as the real estate downturn, insufficient domestic demand, and second-quarter GDP growth slowing to 4.3%, the stimulus measures introduced by the Chinese government — including mortgage subsidies and capital injections into banks — lean toward caution and are unlikely to fundamentally reverse the economic weakness.
2026-10
The Chinese Communist Party (CCP) officially released economic data for September and the third quarter, showing exports hitting a record high in a single month, PPI rising 5% year-on-year, and new aggregate financing of 3.55 trillion yuan, presenting a recovery narrative; however, at the micro level, new household loans stood at zero, and profits of mid- and downstream firms were severely eroded by the scissors gap.
2026-10
The Ministry of Culture and Tourism released data for the first half of 2026: domestic residents made 5.4% more trips year on year, while total travel spending rose 2.0%; a rough calculation based on the growth rates puts average spending per trip down about 3.2% year on year.
2026-10-01
On October 1, Time Finance reported that Zhang Qiang (a pseudonym), a homestay operator at a scenic area in Jiangsu, said that three years ago the best room type could sell for 700–800 yuan a night during the National Day holiday, but now even listing it at 580 yuan still brings no orders; more than 100 homestays cluster in his area, making price competition fierce.
2026-10-01
On October 1, Qilu Evening News reported that Hou Mingjing, marketing director of Shandong Kairui Commercial Group, said that this year's National Day wedding banquets generally have around ten tables, with the larger ones having around twenty, and that the per-table budget has fallen from 1,599–2,000 yuan to generally just over 1,000 yuan.
2026-09-30
On September 30, the International Monetary Fund (IMF) published a new book, "Toward a New Growth Model for the Chinese Economy," on its official website, pointing out that linking local officials' performance evaluation to GDP targets has led to infrastructure expansion, land-sale financing, and the accumulation of local government financing vehicle (LGFV) debt. LGFV cash flows can cover only about one-quarter to one-third of interest payments. The book recommends improving social security, advancing household registration (hukou) reform, and increasing the progressivity of the tax system.
2026-09-29
The fiscal interest subsidy policy was officially announced on September 29 and went into effect at the start of the National Day holiday; combined with developer discounts, it drove up new home transaction volumes in some key cities.
2026-09-29
An X account named “所谓伊人在水一方” uploaded a video of a female teacher talking about student safety, in which she reminds high school students to guard against strangers, vehicles, and the risk of losing contact.
2026-09-28
The CCP Ministry of Commerce released a Mid-Autumn report stating that average daily sales of key retail and catering enterprises rose 0.1% year-on-year, but it made no mention of mooncake sales, and the calculation baseline is disputed.
2026
The video's author lists indicators from the first half of the year — contracting consumption, high-ranking officials falling from power, declines in fiscal revenue and household savings, and rising unemployment and credit defaults — claiming all have set historical records; no unified source can be found for any of the data.
2026-09-24
On September 24, according to reports from merchants in multiple locations and video footage, prunes and all kinds of fruits, grapes and others in Guangzhou suffered severe unsalable inventory on the eve of the Mid-Autumn Festival, with the market collapsing completely.
2026-09-24
At 11 a.m. on September 24, cauliflower in Nan Dapu Market completely collapsed, with prices falling to 0.2 or even 0.1 yuan per jin and still no one buying.
2026-09-18
In a conversation, Morgan Stanley's Chief Economist for China, Xing Ziqiang, pointed out that China's social security expenditure accounts for only about 8% of GDP, far below the OECD average of 25% and the levels of developing countries with similar per capita GDP, and also mentioned group disparities in the enjoyment of public services.
2026-09-19
On September 19, Huang Yiping, a member of the Monetary Policy Committee of the People's Bank of China, stated at the Beijing Economic Forum that artificial intelligence may exacerbate the contradiction between China's overcapacity and insufficient household purchasing power. He pointed out that distribution leaning toward capital leads to weak demand, and suggested increasing the proportion of household income through market-oriented reforms, while the central government borrows to repair the balance sheets of local governments and enterprises.
2026-09-19
At the Tsinghua Wudaokou Chief Economists Forum, four scholars—Lin Yifu, Yu Yongding, Yao Yang, and Li Xunlei—concentrated their efforts to call on the central government to adopt expansionary fiscal policies and bail out local government debt.
2026-09-18
With about 9 days left before the Mid-Autumn Festival, mooncakes on the market have already begun to be heavily promoted to clear inventory: 298-yuan gift boxes are sold at half price, and 98-yuan gift boxes have been marked down to 29.9 yuan. Some merchants say mooncake sales this year are expected to plunge, and suggest customers give practical gifts such as rice and cooking oil instead.
2026-09-15
On September 15, The Wall Street Journal published an article pointing out that while China can avoid a sudden financial crisis through its state-controlled financial system, the losses from real estate and bank bad loans will not disappear. Economist Michael Pettis believes that the losses will be borne by ordinary residents in the long run through low deposit returns and shrinking asset values, rather than manifesting in public forms such as bank failures.
2026-09-15
On September 15, German Chancellor Merz criticized China at the Berlin Entrepreneurs' Conference, stating that through state intervention, overcapacity, and export subsidies, China has driven the EU's trade deficit with China to over 300 billion euros. EU leaders plan to discuss in October whether to deploy trade defense instruments.
2026-09-15
Wen Bin, chief economist at China Minsheng Bank, published a column on September 15 saying that the financing structure in August continued to optimize and better match new quality productive forces; the claim is accused of masking the contraction of credit in the private sector.
2026-09-13
In September 2026, the owner of a small supermarket in the countryside said that customers are now reluctant to spend a single penny, there is almost no one on the street, goods are piling up in the store and cannot be sold, manufacturers' promotional activities attract no attention, and supply salespeople are frequently replaced.
2026-09-08
In the first half of 2026, China's domestic auto sales were only 9.92 million units, a year-on-year decline of 21.1%, a drop larger than the 16.6% recorded during the pandemic lockdowns of 2020.
2026-09
As the lives of ordinary people grow ever harder, the Chinese Communist Party authorities seem to turn a blind eye to their suffering, continuing to tout a bright outlook for China’s economy and calling on all sectors of society to revel in economic prosperity.
2026-09
In August 2026, retail sales of consumer goods rose only 0.4% year on year, while residential electricity consumption fell 5.1% in July of the same period, showing a contraction in household consumer demand.
2026-09
In the first 8 months of 2026, securities transaction stamp duty grew nearly twofold year-on-year. Funds mainly changed hands among households, brokerages, the fiscal authorities and insurance companies, without generating any new investment.
2026-09
At the recent Tsinghua PBC School Forum, economists within the system, including Lin Yifu, Yu Yongding, Yao Yang, and Li Xunlei, rarely criticized economic policy en masse. Yu Yongding said the central government's books are clean while local governments are a complete mess, and called on the central government to issue bonds to replace local debt.
2026-09
In September 2026, a braised-food shop in Shanghai, open for less than two months, saw its revenue drop off a cliff after the school term began, falling from 5,000–6,000 yuan a day at first to 300–400 yuan, leaving the owner anxious and suffering from insomnia.
2026-08-31
On the last day of August, Miss Keke Li's women's clothing shop on Taobao, which has over 20 million followers, closed and all items were removed from the store. The shop was considered one of the top online women's clothing stores, and its closure comes against a backdrop of insufficient foot traffic in physical women's clothing stores, difficulties in selling down jackets and coats, and several other women's clothing stores struggling with poor operations. The operators said that low‑price high‑volume sales did not generate enough turnover, and the women's clothing industry faces significant pressure both online and offline.
2026-08-23
People’s Daily continues to publish “Zhong Caiwen” articles, claiming that China’s economy has shown “strong resilience.”
2026-08-23
Chinese state media published an article characterizing the 4.7% economic growth in the first half of the year as high-quality, arguing that it is in line with the current economic reality.
2026-08-22
People’s Daily published an article signed “Zhong Caiwen,” arguing that observations of China’s economy should not focus only on single-month data.
2026-08-17
Li Qiang presided over a State Council meeting, calling for persisting in expanding domestic demand, focusing on the principal contradiction, seizing on areas with long industrial chains and large scale, and promoting the domestic economic cycle and consumption upgrading.
2026-08-17
On August 17, 2026, China's National Bureau of Statistics rarely broke its long-standing convention of releasing data in the morning, postponing the July national economic data to 3 p.m., after the A-share market closed, sparking market concerns that the data was under pressure.
2026-08-11
On August 11, 2026, data from the China Passenger Car Association (CPCA) showed that China's overseas auto shipments reached 918,000 units in July, up 88% year-on-year and accounting for more than 40% of production; however, domestic passenger vehicle retail sales plunged 21% year-on-year, with fuel-powered vehicles down 41%.
2026-08-06
The yield on one-year US Treasury bonds reached 4.6%, compared to 1.3% for a five-year fixed deposit at China Construction Bank and 1.7% for savings bonds issued by the Ministry of Finance.
2026-08-01
On August 1, 2026, Qiushi, the journal of the CCP Central Committee, published an article candidly acknowledging that there is a temperature gap between macroeconomic data and the micro-level experience of the ordinary public, conceding that intensifying competition for jobs and improvements in income have fallen short of expectations, sparking widespread social discussion.
2026-08
According to National Bureau of Statistics data compiled by the Continuation Index, retail sales of automobiles by enterprises above the designated size in August 2026 stood at 327.89 billion RMB, 100 million RMB less than the 327.99 billion RMB in August 2021, representing a year-on-year decline of 18.5% and marking the 9th consecutive month of decline.
2026-08
According to a blogger's statistics, China's auto sales in August 2026 were about 100 million fewer than in the same period of 2021, wiping out all the gains of the five years, and have now declined for the 9th consecutive month. Auto consumption is collapsing at an accelerating pace, reflecting weak domestic demand.
2026-07-30
On July 30, 2026, the CCP Central Committee Politburo held a meeting to analyze the economic situation. The Wall Street Journal reported that the meeting emphasized supply-side optimization and the implementation of existing policies, sending a clear signal that there is no intention to unleash flood-style massive stimulus in the face of slowing economic growth.
2026-07-29
People's Daily published guidance opinions, releasing a strong signal of investigating the Ctrip monopoly case and cracking down on antitrust involution, drawing outside attention to the authorities' further rectification of foreign and private enterprises.
2026-07-24
The CCP Central Committee held a symposium with non-Party figures at Zhongnanhai. Presiding over the meeting, Xi Jinping said that China's economy is currently facing certain difficulties and challenges.
2026-07-24
At a symposium with non-Party figures, Xi Jinping acknowledged for the first time in his own words that China's economy is experiencing a severe downturn. The news is regarded as an important milestone, foreshadowing the gravity of China's economic situation.
2026-07-22
On July 22, 2026, Zhang Enhui, Secretary of the Changchun Municipal Party Committee, presided over an enlarged meeting of the Municipal Party Committee Standing Committee. The official communiqué stated that the city's economic development is currently facing "unprecedented difficulties and challenges."
Location: Changchun, Jilin ·
Importance IV ·
Verification: Official claim ·
View causal chain →
2026-07-22
On July 22, 2026, the CCP Changchun Municipal Committee held an expanded standing committee meeting to conduct an in-depth analysis of the economic situation in the first half of the year, and the official announcement rarely admitted that the city's economic development is facing unprecedented difficulties and severe challenges.
2026-07-15
On July 15, 2026, China's National Bureau of Statistics released data showing that national GDP grew 4.7% year-on-year in the first half of 2026, while growth in the second quarter slowed to 4.3%, falling short of the full-year target, with real estate investment down 18% year-on-year.
2026-07-15
China announced that GDP grew 4.3% in the second quarter. Nominal growth exceeded real growth for the first time in 13 quarters, mainly driven by price increases upstream.
2026-07-13
The State Council of China unprecedentedly issued a document on expanding consumption under the name of a five‑year plan, aiming for total retail sales of consumer goods to reach 60 trillion yuan by 2030.
2026-07-08
A China economic briefing released by the World Bank on July 8 pointed out that China's domestic demand will continue to shrink and housing prices will fall, with the root cause being that the government of the Chinese Communist Party (CCP) uses 43% of its budget for investment while underfunding people's livelihood.
2026-07-07
Renowned macroeconomist Gao Shanwen has passed away due to illness at the age of 55. He previously worked at institutions such as Peking University and Guotai Junan Securities, and was well-known for his profound insights and warnings regarding the Chinese economy.
2026-07-04
The quarterly meeting of the Monetary Policy Committee of the People's Bank of China adjusted the economic tone from "steady progress" to "toward the new, toward the better," and listed structural optimization as one of the challenges facing the economy.
2026-07
China's official data shows Q2 GDP grew 4.3% year-on-year, the slowest pace since the end of 2022.
2026-07
The market widely expects China's year-on-year GDP growth in the second quarter of 2026 to fall back to 4.2% to 4.5%, while the Bank of China Institute of International Finance has forecast 4.7%.
2026-07
Data monitored by the China Passenger Car Association (CPCA) shows that in July, both retail sales and manufacturer wholesale volumes in the national passenger car market plunged 18% year-on-year, while retail sales shrank 28% month-on-month.
2026-06-23
On June 23, 2026, the State Council Information Office held a press conference, at which the Ministry of Commerce, the Ministry of Industry and Information Technology, the Ministry of Culture and Tourism, and the municipal governments of Hangzhou and Chengdu introduced measures to expand automobile consumption, such as trade-in car purchases and self-drive tour consumption scenarios; official media said this was in response to a Qiushi article on boosting consumption.
2026-06-18
The website of the Chinese Communist Party's theoretical journal Qiushi published a commentary article titled "Boost Consumption with Greater Vigor," proposing measures such as increasing residents' income, improving the social security system, rescuing the real estate sector, and repairing residents' balance sheets.
2026-06-08
The China Passenger Car Market Information Joint Branch released May market data: national passenger car retail sales totaled 1.51 million units, a sharp year-on-year decline of 22.1%, setting a record of eight consecutive months of year-on-year decline and reflecting the continued weakness of domestic consumer demand.
2026-04-25
Justin Yifu Lin, dean of the Institute of New Structural Economics at Peking University, said in Hefei that China is only 135 dollars short of the high-income country threshold and could cross it by next year at the latest.
2026-01-19
China's statistical department announced that the nominal GDP for 2025 is approximately 140 trillion yuan, a figure used to estimate the economic losses caused by information control.
2026
According to International Monetary Fund estimates, the actual scale of the Chinese government's debt in 2026 will be about 200 trillion yuan, reaching 135% of GDP.
2026
Based on calculations using International Monetary Fund data, China’s actual government debt ratio is projected to exceed 200% in 2026.
2026
Based on data from the International Monetary Fund, the video estimates that China's fiscal deficit in 2026 is expected to exceed 15%.
2026
Data from China's Ministry of Commerce shows that after reaching a peak of 1.23 trillion in 2024, the national actual utilized foreign investment fell to 747.6 billion last year, a year-on-year decrease of 40%, and has continued to decline by 7% this year on a low base.
2025-12
According to estimates in the Southwestern University of Finance and Economics' "2025 Report on the Fiscal Conditions of Provinces, Cities, and Counties," in 2024 the average fiscal self-sufficiency rate of the country's 2,774 county-level areas was about 38%, with the lowest county at only about 1%.
2025-10-03
CCTV reported on October 3, 2025 that as of October 2, 2025, the cumulative annual box office had exceeded 42.5022 billion yuan and admissions had exceeded 1 billion, in contrast to the 760 million admissions reported in 2026.
2025
In 2025, China's high-tech industry actually used 241.8 billion yuan in foreign investment, down 15.6% year on year.
2025
China-Brazil bilateral trade volume reached $188 billion in 2025, ranking first in Latin America, yet Brazil's GDP growth rate over the past 15 years ranks second to last among major Latin American countries.
2025
Despite the Chinese ban, Japan's total seafood exports recovered in 2025 and hit a record high of 423.1 billion yen, a year-on-year increase of 17.2 percent.
2025
Statistics bulletin of the National Health Commission shows that in 2025 there were 15.109 million voluntary blood donation visits nationwide, with a donation rate of 10.9 per 1,000 people; all three key indicators dropped by about 11% compared with 2023; in 2024, donations were already more than 1 million visits fewer than in 2023.
2024-12-03
In a speech at the end of 2024, Gao Shanwen expressed sensitive views on the cyclical bubbles, consumption structure, actual growth rate, and future low growth of the Chinese economy. The speech was subsequently banned, marking his final public address.
2024-09
Officially released figures show that profits in Beijing's catering industry fell 88.8% year-on-year.
2023
Last year, daily rental rates in China's robot rental market ranged from 5,000 to 15,000 yuan, used mainly for performance-type events such as mall openings, auto show booths, and warm-up acts at annual galas.
2022-10
University of Chicago scholar Martinez, using satellite nighttime light data, found that annual GDP growth in authoritarian countries is overstated by an average of about 35%, and that China's figure may have been overstated by about one third over the past two decades.
2018-01-11
In January 2018, Tianjin Binhai New Area switched its GDP statistical basis from registered to local, revising its 2016 GDP from 1,000.231 billion yuan to 665.4 billion yuan, a drop of about one third; the Tianjin Municipal Bureau of Statistics said this had no impact on the city's overall GDP.
2012
The sum of GDP figures reported by provinces and municipalities in 2012 was 57.66 trillion yuan, about 10% higher than the 51.93 trillion yuan calculated by the National Bureau of Statistics; the bureau said the difference was mainly due to double counting in the tiered accounting system and differences in raw data.
2007-03
The then-Secretary of the Liaoning Provincial Party Committee, Li Keqiang, told the US Ambassador that Liaoning's GDP figures were man-made and for reference only, and that he only looked at electricity consumption, railway cargo volume, and bank loans.
2001-12-11
On December 11, 2001, China officially became a member of the World Trade Organization after an agreement was reached at the ministerial conference in Doha.
1993-12
In late 1993, China determined the plan to unify the RMB exchange rate, merging the official and market rates. The relevant reforms were officially implemented the following year.
1976
In October 1976, the ten-year-long Cultural Revolution ended with the "downfall of the Gang of Four"; the prolonged political campaigns had a severe impact on China's economy.