March 15 is designated as the World Consumer Rights Day (in China, dubbed as 3.15) and ever since 1991 it is one of the least favorite day in the year for senior executives of service companies. Every year, China Central Television puts on 3.15 gala show featuring findings of unfair conduct of the companies, all for the sake of protecting the consumers.
China’s top legislative meeting has come to an end. The National People’s Congress closed with the adoption of the 13th Five-Year Plan, which establishes the main trends for social, economic and political development until 2020.
China’s Yuan policies seem to be fruitful as the currency reaches to its highest point next to the dollar. In less than a month, the Chinese government has managed to collect gains for its currency in the domestic market, and score high ever since last December.
Chinese exports registered a 25.4% fall compared to next year. Similarly, imports also decreased in a 13,8%. Information during February could reflect certain distortions due to Chinese New Year celebrations, however, the tendency has been clear during the first two months of 2016.
China’s economy has been on a spiral. Restructuring the whole financial system has not been an easy task, and very brave steps have been needed from time to time.
Last week, South China Morning Post featured an interview with Nick Chan Ying-kit, Managing Director of a clothing manufacturer based (mostly) in South China’s province of Guangdong.
Chinese banks have presented a record score of credits during January 2016. In total, 2.52 billion yuan (US$386,000 millions) were delivered as loans by Chinese financial institutions, an increase of 71% from compared to January last year.
Six months ago, a warehouse storing chemical products was the epicentre of a major series of explosions killing 173 people at the heart of a residential area in the coastal city of Tianjin.
A new report released by the company Nielsen indicates that despite downward pressures on the economy, in 2015 Chinese consumers’ willingness to spend reached the four-year peak.
The activity of the manufacturing sector in China and the United States contracted during January. On an opposite note, the Euro Zone expanded, but at a slower rate than the previous month.
