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Reuters Reports on Chinese Unemployed People Hiding Job Loss from Their Families by Pretending to Go to Work

10.20 ·Reported ·Importance III ·Sources 1 ·China

Reuters reported on October 20 that some unemployed people in China leave home on time every day to pretend they are going to work in order to hide their job loss from their families, such as a 28-year-old laid-off internet worker in Chongqing who goes out from 9 a.m. to 6 p.m. every day. Cornell scholar Diana Fu said this behavior buffers collective discontent and helps Beijing delay the choice between automation and employment.

Reuters reports that some Chinese property developers are unable to pay back taxes, and some have revoked offshore trusts they had just set up

10.16 ·Reported ·Importance III ·Sources 1 ·China

On October 16, Reuters cited family office lawyers as saying that some Chinese property developers are unable to pay the taxes they owe due to the sluggish property market; Hong Kong trust lawyers said that after the strengthening of tax collection on offshore trusts, some people have revoked trusts they set up before even funding them. China announced new personal income tax rules for offshore trusts in July; historical tax arrears must be declared and paid by October 22 to avoid late payment surcharges.

Reuters Reports Local Governments May Cover 80%–90% of Initial Investment in Robot Projects

09.21 ·Reported ·Importance III ·Sources 1 ·China

Reuters reported on September 21, citing people familiar with the matter, that in some robot data collection centers and joint venture projects local governments may bear 80%–90% of the initial investment, and that project orders can support company valuations and help them reach the listing threshold; regulators are examining whether this represents genuine demand.

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