The decline in foreign orders is also evident at the China Import and Export Fair. The China Import and Export Fair, also known as the Canton Fair, is the largest trade exhibition in China and has always been considered a crucial weathervane and indicator of China's foreign economic activities. It reflects the ups and downs of this massive economic entity.
The Canton Fair opened in mid-October this year, but some exporters have revealed a decreasing trend in European and American customers. Some exporters have openly mentioned the decline in orders.
#cantonfair #chinatrade #chinaeconomy #chinaobserver
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Canton Fair Crisis: 80% Drop in EU/US Buyers - Exhibitors in Tears: No Orders, No Hope!

The Hangzhou 2022 Asian Games Organizing Committee hasn't disclosed the total cost of hosting the games, but the Hangzhou government mentioned that over 200 billion yuan (approximately 30 billion US dollars) was spent on transport infrastructure, competition venues, the Athletes' Village, and other facilities over five years leading up to 2020.
According to the BBC, a Hangzhou resident surnamed Jiang remarked that the money spent on the Asian Games would have been better used to improve the living standards of ordinary citizens and the youth. "It's hard to find jobs now. Some companies have gone bankrupt. Today's young people have it tough."
#asiangames #hangzhouchina #chinaobserver
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CCP Spends $30 Billion on Asian Games, While Ordinary Citizens Endure Untold Hardships

Earlier this year, a tragic incident involving a BYD Han made headlines. The vehicle caught fire after a highway collision, resulting in the tragic death of its driver. While accidents happen, what followed was a masterclass in PR deflection by BYD, leaving many questions unanswered and genuine concerns brushed aside.
BYD has been accused of various missteps, price hikes, resistance to price reductions, quality issues, and even exploiting its employees. Their PR moves, especially in the face of criticism, has been less than stellar. And then there is the fan base. Some byd enthusiasts held the company’s environmental initiatives like their carbon neutral goals. But when faced with criticism, these fans often become aggressive defenders, sometimes resorting to personal attacks.
#byd #chinaev #electricvehicle #chinaobserver
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China’s Tofu-Dreg EVs Dark Secrets: New BYD Exploded in Less Than a Week | Non-deploying Airbags

A woman who is currently unemployed revealed that she hasn't had any contact with the outside world for over a week. She candidly expressed that the current employment situation in China is challenging. At 29 years old, she's unmarried and childless, which has led many companies to be reluctant to hire her. Despite having six years of work experience, she lamented feeling less desirable than a recent graduate, causing her great anxiety.
The woman shared that the prevailing wage in most cities currently ranges between 1,000 to 2,500 yuan (equivalent to 137 to 342 US dollars). According to the latest statistics on April 1st from the Ministry of Human Resources and Social Security, only 15 regions have a minimum monthly wage of 2,000 yuan (approximately 274 US dollars) or more, with Shanghai leading at 2,590 yuan (approximately 354 US dollars). Dongguan's minimum wage stands at 1,900 yuan (around 260 US dollars) per month. The reality might be even harsher: 600 million Chinese people earn an average monthly income of around 1,000 yuan (that’s 137 US dollars), and 900 million earn around 2,000 yuan (approximately 274 US dollars). Even if your monthly income exceeds 10,000 yuan, how much is left after expenses? Probably not much. This is the reality for most families.
#chinayouth #beijing #shanghai #chinaobserver
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China Observer Transcript on Youtube

Canton Fair Crisis: 80% Drop in EU/US Buyers - Exhibitors in Tears: No Orders, No Hope!

CCP Spends $30 Billion on Asian Games, While Ordinary Citizens Endure Untold Hardships

China’s Tofu-Dreg EVs Dark Secrets: New BYD Exploded in Less Than a Week | Non-deploying Airbags

Chinese Youth Are Crying ‘Can’t Bear It Anymore’: Salaries in Beijing & Shanghai Hit an 8-Year Low