economy Archives - Pandaily

JD.com Denies Rumors of Large-Scale Layoff

JD.com has no plans for widespread layoffs and is, in fact, continuing to recruit new employees, said an anonymous insider from the company, adding that the total workforce at JD.com presently stands at 590,000.

NIO’s Sub-brand Alps Starts Laying off Employees

After the announcement of organizational optimization by NIO's CEO Li Bin last Friday, NIO's sub-brand, Alps, has also started lay-off.

Huawei Founder Emphasizes “Survival” Amid Economic Challenges

Huawei's internal forum published an article on August 22 about the whole company's business policy changing from pursuing scale to pursuing profit and cash flow.

Shanghai Jiading District Launches Vehicle Purchase Subsidies

Though high-risk, lockdown and control areas are still under some number of restrictions, Shanghai has now become fully operational as of June 1st. The Jiading District of Shanghai today issued 12 policies to boost consumption throughout the city.

Beijing Wants to See Steady Growth in Major Purchases Such as Automobiles and Home Appliances

China's State Council issued a policy package to help stabilize the economy and planned to see steady growth in major purchases such as automobiles and home appliances.

Shanghai Government Announces Action Plan for Economic Recovery

To coordinate COVID-19 control with economic development, the municipal government of Shanghai launched an action plan on Sunday to speed up economic recovery following weeks of extended lockdowns.

Article on Chinese Economy Forwarded by Tencent CEO Pony Ma Triggers Heated Discussion

An article about the Chinese economy published by an official WeChat account was widely forwarded among users on May 21. It was reported that Tencent CEO Pony Ma had also forwarded the article.

Chinese Tech Industry Shifts Into Lower Gear as Layoff Rumors Swirl

The next stage of development for the Chinese technology industry is likely to marked by slower growth, albeit with more stable operations.

Assessing China’s Platform Economy in 2022

Nowhere has the digital platform economy's impact been more apparent than in China, where a burgeoning economy and technological metamorphosis in recent decades have been underpinned by a cohort of sprawling and innovative tech giants including Alibaba, Tencent and Baidu.

Sources Say Chinese Convenience Store Chain Bianlifeng to file US IPO, Denied By Company Spokesperson

Sources said today that China's Internet convenience store brand Bianlifeng is planning to file for an IPO. Goldman Sachs, Morgan Stanley and CITIC Securities will act as lead underwriters to arrange the listing.

China’s Central Bank Takes Action to Quell Mounting Inflation Concerns

Officials at the People’s Bank of China (PBOC) announced new measures late Monday night aimed at curtailing growth in the yuan’s value, which has recently surged to its highest level against the dollar in three years.

US to Refrain from Declaring China a Currency Manipulator in Pending Report

China will not be formally labelled a currency manipulator by the US Treasury Department in their upcoming foreign exchange report, Bloomberg revealed Tuesday, citing people familiar with the matter.

Jack Ma Tops Forbes China Rich List for Third Year Amid Recent Controversy

The Shanghai Stock Exchange (SSE) and Hong Kong Stock Exchange (HKEX) both on Nov. 3 announced to halt the IPO process of Ant Group.

China Manufacturing PMI Growth Slows, Shows Uneven Economic Recovery

China’s manufacturing industry grew at a slower pace in August, with the official manufacturing PMI falling slightly to 51 in August from 51.1 in July.

Pinduoduo Ties up with Singapore’s A*STAR on Pesticide Testing

Pinduoduo has entered a research collaboration with Singapore’s Innovations in IFCS at A*STAR, to develop a more cost-effective and robust method of testing fresh produce for pesticides.

10 Female Founders Changing Chinese Tech and Economy

Despite the presence of highly successful women in the industry, we find the need to specify that a founder is “female” as if it were an exception.

China’s Consumers Now Have More Online Shopping Choices as COVID-19 Spurs Decentralization

Pandaily deep dives into a set of employment and consumption statistics to explain how e-commerce penetration is accelerating.

Street Stalls Make Unexpected Comeback As Local Beijing Officials’ Attitudes Waver

The return of the once-ubiquitous street vendors was expected to bring back Chinese economic vibrancy that was affected by COVID-19, but the public frenzy has been contained by local officials in Beijing.

Alibaba Releases Survey on Medium and Small-Sized Enterprises During the COVID-19 Outbreak

AliResearch, China Household Finance Survey and Research Center of Southwestern University of Finance released a joint survey on MSME during the COVID-19 outbreak.

How Bad Is the Coronavirus Really for China’s Economy?

Experts are currently foreseeing a decline in China’s economic growth to roughly 5.6% from the already relatively low 6.1%, which will bring global economic growth down by 0.2%.

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