The e-commerce powerhouse took in over $30.8 billion during the day, shattering last year’s record holder in both yuan and dollar terms. The 11th of November, or “Singles Day” as it is commonly known, sees millions of Chinese consumers place large online orders at heavy discounts across Alibaba’s various e-commerce platforms. At just half 5:30 […]
Category: Consumer
The People’s Bank of China has published a report highlighting the severity of consumer credit growth among Chinese households, which threatens to exacerbate an already slowing economy if default rates pick up, Caixin reports. Outstanding short-term consumer loan growth jumped from 19.9% year-on-year at the beginning of 2017 to 40.9% in October, according to the report. […]
The US and China continued to fence ahead of the G-20 meeting which may or may not include a face-to-face by Xi and Trump. But Those in Command are pulling out lots of stops to stimulate the market and smother negative sentiment. No doubt with short-term speculative motives dominating, the Shanghai stock market and the […]
A key index tracking activity in China’s services industry showed growth continued to ease last month, as all areas of the economy appear to be feeling the weight of a slowdown. The official non-manufacturing Purchasing Managers’ Index (PMI) dropped to 53.9 from 54.9 in September, though the score remains safely in the above-50 expansionary territory. […]
This has been a weird week in global markets, but even weirder thanks to massive intervention by Those in Command. The Shanghai market, after who knows how much spending by the national team and its proxies, ended the week only up a smidgen, in spite of a massive rise on Monday which was almost all […]