The authorities are encouraging young people to pursue careers in China’s rural areas amid mounting job pressure and President Xi Jinping’s calls to ‘revitalise the countryside’.

‘This is a trend that will not stop,’ manufacturing analyst warns as exporters see their hands forced in the face of geopolitical strife, demographic crisis and supply-chain upheavals.

China’s construction sector reported the longest payment delays in 2022, even as Beijing eased restrictions on financing for the sector following a years-long crackdown, Coface report says.

Delayed or partial payments have left Chinese companies owing money to each other and to their banks, discouraging production and investment as well as putting a damper on growth.

Over US$21 billion worth of orders were placed during the spring session of the Canton Fair, with around 500,000 green and environmentally friendly products on show amid China’s heavy investment in renewable materials to facilitate its green transition.

Creditors have appointed agents to sell a Hung Hom commercial property that is among a trio of seized assets tycoon Chen Hongtian is fighting to regain control of after what he called a “mild default”.

All economies that operate by law, whether private or state-owned, are a basis for the ruling party to govern, Li tells Tsinghua PBCSF Chief Economists Forum.

Chinese leader told a planning meeting to focus on the ‘real economy’ and avoid sectors such as finance and property to avoid the risk of a bubble.

Chinese tycoon Chen Hongtian is in discussions with lenders to retrieve assets worth HK$10 billion (US$1.27 billion) after a ‘short-term liquidity issue’ forced him to miss mortgage payments.

Industry experts say city must diversify its offerings by promoting neighbourhood charms and outdoor attractions, while giving tourists more options for digital payment.

Expectations of weak economic prospects over the coming few years, along with fears of Western sanctions, have rich Chinese looking for a safe place to park their cash.

A growing number of younger people in China are resenting the idea of struggling against economic problems, while in the US, millions are also leaning more towards the life side of a work-life balance.

Chinese smartphone firms are facing an ‘innovation or die’ situation, as multinationals look to diversify and the United States ratchets up export controls on advanced semiconductor chips, industry insiders say.

China was late to embrace the mobile phone, but it is now home to the largest mobile phone market in the world, a booming e-commerce sector and some of the most advanced mobile network infrastructure.

Chen Hongtian’s company, Cheung Kei Group, cites defaults on ‘several big-ticket accounts receivable’ and ‘abnormal obstacles’ for loss of control over assets including house on The Peak.

Russia’s economy has been hit by Western sanctions, resulting in an increased use of the yuan as part of a surge in trade, but analysts said it will not help significantly internationlise the use of the currency.

Hong Kong’s tourism sector insists tax-free shopping items are still appealing to visitors, but mainland counterparts urge city to change its ways.

Former Hubei party chief Ying Yong, responsible for the country’s initial response to the Covid-19 outbreak in Wuhan, is named procurator-general.

President Xi Jinping has again urged entrepreneurs to give to charity and ‘share the fruits of growth’, but his message could find a muted reaction among private firms still recovering from three years of Covid uncertainty.

After the Chinese government abruptly pivoted from its hardline coronavirus rules at the end of last year, attention has shifted to how Beijing plans to restore business confidence and spur recovery amid global uncertainties.

Trade tensions between China and the United States are having an increasingly negative impact on foreign businesses in southern China, a US business lobby says, with many slowing investment as a result.

A large business void in Russia, caused by Western brands shunning the country, makes the market as appealing as ever for Chinese sellers, but competition and hurdles still stand in the way.

Chinese consumers are enjoying unprecedented access to the pungent Southeast Asian delicacy, but the emergence of ‘durian diplomacy’ has raised concerns that it could backfire for some Asean countries.

Cultural ties and prospects for the post-Covid economy also drawing people back, recruiting company says.

Authorities say they will prepare to be able to shoot down the unidentified object.

Ebrahim Raisi travels to Beijing this week in a trip expected to ease tensions that have simmered since President Xi Jinping’s meeting with Gulf leaders in December.

Workers would normally return to Guangzhou and other major factory hubs next week, but long lines for jobs this week show how keen they are to earn a pay cheque after a difficult 2022.

Some middle-class Chinese are making drastic cuts to their personal budgets amid an uncertain outlook for 2023, while their American counterparts are worried, but are taking it more in their stride.

More than 2 million foreign trips were made during the Spring Festival holiday, according to the state news agency.

China’s older generation invested relatively heavily in property, buying up homes and flats in the hope that they would appreciate greatly over the years, but Generation Z appears to have a different perspective.