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.
2026-11-06
A report released by Bloomberg Economics on November 6 stated that if the Democratic Party slows down AI investment and data center construction after a major victory in the U.S. midterm elections, China's growth, which relies on AI hardware exports, will be hit. Net exports contributed nearly 40% of China's economic growth in the third quarter, and chips and computer products accounted for 40% of the year-on-year increase in exports in the first nine months.
2026-11-06
At the Bu Ming Bai Festival held in Tokyo, the Bu Ming Bai Podcast invited Professor Xu Chenggang to discuss the institutional logic behind China's economic growth and recession, as well as how ordinary people can cope, using his book 'The Institutional Genes' as a starting point.
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.
2026-10-15
On October 15, according to a Reuters report, IMF Asia-Pacific Department Head Srinivasan stated in Bangkok that China's economic growth still mainly relies on external demand, the scale of fiscal stimulus is limited, and the real estate crisis has dragged on too long, calling on the government to boost household confidence and improve the social security system.
2026-10-14
A homebuyer recounts that after purchasing a home in 2020, a drop in income forced them to suspend mortgage payments for 12 months, now facing court-ordered forced auction and massive losses.
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.
2026-10-08
On October 8, Hong Kong's Buildings Department confirmed that in a Starter Homes for Hong Kong Residents scheme project developed by CK Asset Holdings in collaboration with the HKSAR government, six residential towers had rebar configurations that deviated from the drawings, requiring remedial work or demolition and reconstruction.
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.
2026-10-08
On October 8, several contractors at the Yuanda SOHO development in Changchun, Jilin Province, staged a banner protest at the entrance of the property's marketing center, demanding payment, as the developer, Changchun Yuanda Real Estate Development Co., Ltd., still owed construction funds two years after the handover of the units.
2026-10-04
On October 4, the Hong Kong Buildings Department confirmed in a notice that the rebar configuration of some floor slabs and beams at the luxury development ONE STANLEY did not match the approved drawings.
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
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
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.
2026-09-18
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.
2026-09-21
Instead of focusing on GDP, look at “hard power”: youth unemployment rate is 18.9%, AI continues its great leap forward. On September 21, The New York Times reported that while the unemployment rate for non‑student Chinese youth aged 16‑24 has risen to 18.9% and consumption and real estate remain sluggish, Beijing is still preparing to pour massive resources into artificial intelligence. Bloomberg previously said China is planning to invest about $295 billion over the next five years to build… #Xi Jinping
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.
2026-09-15
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
The National Bureau of Statistics released data showing that national fixed-asset investment fell 7.2% year on year from January to August, while real estate development investment fell 19.9% year on year.
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
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.
2026-09-01
Owners of the Jingxi Yinyue residential community in Fangshan, Beijing, gathered to defend their rights and confronted police over insufficient parking spaces caused by planning defects, poor vehicle management, and fire safety hazards.
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.
2026-08-28
Owners of a residential development in Chengdu gathered to defend their rights over numerous safety problems at the property. After police took away some of them, the remaining owners surrounded the officers and demanded their release.
2026-08-28
On August 28, 2026, the People’s Bank of China and the National Financial Regulatory Administration jointly issued new real estate credit policy rules, officially extending the maximum term of personal housing loans from 30 years to 40 years, sparking widespread public debate.
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.
2026-08-20
Shanghai has introduced the “Eight Shanghai Measures,” a package of optimized real estate control policies; Hu Liren believes this is a trap to drain the savings of ordinary people and plunge them deep into mortgage debt.
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
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%.
2026-08-17
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.
2026-08-06
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.
2026-08-02
In his program on August 2, 2026, Hu Liren predicted that within one year from August 1, Chinese real estate values would fall by at least 20% to 25%, saying this is a political necessity rather than an economic law.
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.
2026-07-30
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.
2026-07-27
During a rights defense gathering by property owners at Victoria Bay, police set up human walls and privacy screens; that evening, some owners were cleared by police and taken away.
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.
2026-07-23
On August 11, 2026, the General Office of the Guangdong Provincial Government issued an inspection report disclosing that fixed-asset investment across the province fell 11.4% year-on-year in the first half of 2026, with real estate development investment down 21.6% and investment in Foshan plunging by 42.8%.
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
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
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
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%.
2026-07-15
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.
2026-07-08
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
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
Data shows that from January to June, China's national fixed asset investment fell 5.7% year-on-year, private investment fell 8.5%, and real estate development investment fell 18%.
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%.
2026-06-18
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.
2026-06-16
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
The program pointed out that Chinese youth face severe unemployment issues, and the real estate market continues its sluggish decline, leading to a large number of people facing bankruptcy. Many families resort to robbing Peter to pay Paul to repay mortgages, making life extremely difficult.
2026-05-28
On May 28, 2026, a netizen submission claimed that a supermarket owner in Xishuangbanna, Yunnan, publicly sought redress, saying that the supermarket was forcibly evicted by the developer and subjected to violent expulsion, that repeated calls to the police yielded no results, and that no lawyer dared to take the case.
Location: Xishuangbanna Dai Autonomous Prefecture, Yunnan ·
Importance I ·
Verification: Hearsay ·
View causal chain →
2026-05
From January to May 2026, China's urban fixed-asset investment fell 4.1% year-on-year, with real estate development investment down 16.2% and manufacturing investment contracting.
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
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.
2026-02
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.
2026-01-19
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 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
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
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
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 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.
2024-05
China introduced a policy to lower the mortgage down payment ratio to 15% in order to boost the property market.
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.
2022-01-28
On January 28, 2022, the Ministry of Finance announced that income from the transfer of state-owned land use rights in 2021 was 8.7051 trillion yuan (about 8.7 trillion yuan), an increase of 3.5% year on year, hitting a record high.
2022
Land transfer revenue peaked at 8.7 trillion yuan in 2021, then recorded double-digit declines for four consecutive years starting in 2022, falling to 4.15 trillion yuan in 2025, a drop of about 52.3% from the peak.
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.
2019
The host said that several people who followed his advice returned to China in early 2019 and sold properties in Guangzhou, Shenzhen, Beijing, Hainan, Zhuhai, Chengdu, Chongqing, Shanghai and other places.
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.
2016
In 2016, Xi Jinping proposed that housing is for living in, not for speculation, in an attempt to push down housing prices. Local governments passively resisted due to fiscal and debt problems, and collective incidents of unpaid wages for teaching staff and public employees occurred. Xi Jinping ultimately abandoned this policy and turned to backstopping local government debt.
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.
2011-11
When the project building was nearing completion and about to start collecting rent, Shenzhen Metro Group transferred its entire 60% share to Yuanwei Enterprises.
2011
Tan Deku and his partner Jia Guichen jointly acquired Sanya Shanhaiguan Real Estate Co., Ltd. Tan Deku invested funds and served as the project manager in charge of developing the Shanhai Jingyuan residential community.
2011
Shenzhen Metro Group completely transferred up to 60% of the state-owned shares in the Dongmen Old Street overhead property project to Yuanwei Industry, turning the project into private property for the elite.
2010
In 2010, the central government introduced the 'Ten National Measures' and supply restriction orders to further tighten control over housing prices, yet it still failed to reverse the trend of prices rising despite the regulations.
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.
2006
Ren Zhiqiang's remarks on commodity housing at a public forum were taken out of context by the media, leading to him being labeled as 'only building houses for the rich', and the nickname 'Ren Cannon' spread as a result.
2005
In 2005, the central government issued the 'Eight Measures' to control housing prices, but due to a lack of control over local governments, the results were concerning.
2004-06-14
On June 14, 2004, Taishan Oil transferred the 75% stake it held in Taishan Real Estate to Capital Investment (Qingdao) for 123 million yuan, and the remaining 25% stake was transferred to NC International free of charge.
2004-06
In June 2004, the feasibility report for the Qingdao mega refinery project was approved by the State Council. The project was the first refinery in China approved with a single-phase construction capacity of 10 million tons; Li Wei used this to develop related real estate business in Qingdao.
2004
When the air rights property project above Shenzhen Dongmen Old Street subway station was established, Shenzhen Metro Group held 60% equity, and Yuanwei Industrial held 40%.
2002
In 2002, Du Shicheng supported converting a green space at Taiping Jiao in the Badaguan protected area into a real estate project, and criticized the opposition voiced by the Qingdao Municipal People's Congress.
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.
1997
In the early stage of China's real estate industry, the term of personal housing mortgage loans was stipulated to be no longer than 20 years at most.
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.
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.
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.