China Economy

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COVID-19 China updates

First, the news from China: At 04:00 on February 23, 31 provinces (autonomous regions, municipalities) and the Xinjiang Production and Construction Corps reported 409 new confirmed cases, 150 new deaths (149 in Hubei and 1 in Hainan), and new suspected cases. 620 cases. On the same day, 1846 new cases were cured and discharged, 16758

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Coronavirus erupts in Korea, rebounds in China

First, from Beijing: At 04:00 on February 20, 31 provinces (autonomous regions and municipalities) and the Xinjiang Production and Construction Corps reported 889 new confirmed cases and 118 new deaths (115 in Hubei, and 1 in Zhejiang, Chongqing, and Yunnan). There were 1614 new suspected cases. On the same day, 2109 new cases were cured

3

Chinese credit is still soft

Before COVID-19 that is. New yuan loans for January came in at 5.07tr with banks at 3.34tr: Shadow credit is rebounding slowly as Bejing becomes desperate: M2 is still struggling at 8.4%: While broad credit is becalmed at 10.9%: This is only enough credit growth to see GDP slowly slow. Next month we’ll see the

32

Korea locks down three million to beat virus

Via Yonhap: South Korea declared the southeastern cities of Daegu and Cheongdo are “special care zones” Friday as a cluster of coronavirus cases have been reported there in recent days. On Thursday, the country confirmed its first death of a COVID-19 patient in the southeastern city of Cheongdo, with the total number of confirmed cases

8

China still shut

There some signs it is getting worse not better. If anything, traffic congestion has trailed off: Capital Economics has more real time activity charts:   It’s going to be a slow and halting recovery at high risk of reversal as viral outbreaks return. Links from Sinocism: 1. The outbreak Sharp fall in new Chinese coronavirus

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Scotty from Marketing rebrands live testing virus on Aussie kids

Via the ABC: The Federal Government has extended its coronavirus travel ban for another week until Saturday February 29. The Government first implemented strict new border-control measures in an effort to halt what it dubbed an “escalating threat” of the coronavirus. The ban means foreign nationals who have been in mainland China are not allowed into Australia

14

As China contains COVID-19, global pandemic risk rises

Beijing has released its latest virus data: At 04:00 on February 19, 31 provinces (autonomous regions, municipalities) and the Xinjiang Production and Construction Corps reported 394 new confirmed cases and 114 new deaths (108 in Hubei, Hebei, Shanghai, Fujian, Shandong, and Yunnan). And 1 in Shaanxi), and 1277 suspected cases were newly added. 1779 new

4

A little life returns to Chinese cities

A very little. The big five remain mostly shut: Similar in other indicators: The Global Times reports on a scene that must be replayed all over China right now: Beijing district official confirmed on Tuesday that one of its government employees has been infected with the novel coronavirus (COVID-19), causing 69 more in quarantine, but

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Locked down China demands Australia open borders

Via the AFR: Gu Xiaojie, the Chinese Consulate General in Sydney, declined to specify whether he had asked the state ministers – including the NSW deputy premier and ministers for health and education – to lobby Canberra to lift the extended travel ban on flights from China. …”Some people are saying the situation will affect

10

Coronavirus outbreak in Korea

Via Straits Times: South Korea reported 15 new cases of the coronavirus on Wednesday (Feb 19), bringing the total number of people infected in the country to 46, the Centres for Disease Control and Prevention (KCDC) said in a statement. Of those, 13 were in Daegu and neighbouring North Gyeongsang province, with 11 of them

25

When will China re-open?

Because it is still freakin’ nailed shut. Via Capital Economics: New York Times does some numbers: Half of China’s population is facing new travel restrictions. At least 150 million people in China — over 10 percent of the country’s population — are living under government restrictions on how often they can leave their homes, The

8

How buggered is Chinese property?

It was already slowing in January pre-crisis, with monthly price growth virtually stalled at 0.2% and annual 6.3%: The balance of cities with stalled or falling prices versus gainers is now quite even: Lower tiers have lost a lot of momentum: Then along came COVID-19 and delivered this: Then this, at Global Times: China’s leading

12

CCP drives COVID-19 cases down like clockwork

It’s pretty clear now what the CCP plan is. Allow the COVID-19 pre-programmed robot to run the fake numbers to zero then demand the world open up. If the world catches it, that’s all to the good. Today’s update: At 04:00 on February 17, 31 provinces (autonomous regions, municipalities) and the Xinjiang Production and Construction

21

Tokyo Government: Virus “may be spreading in the capital”

Via the Japanese press: A sudden spike in new coronavirus cases was confirmed among attendees at a New Year’s party for independent taxi drivers held on a traditional “yakatabune” river tour boat in the capital. The Tokyo Metropolitan Government says the virus may be spreading in the capital, as people not at the party —

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COVID-19: Seek, and ye shall find

When you have a lot of COVID-19 cases, is it because you have a poor hospital system? Or is it because you have a really good one. Cases: Versus hospital efficiency: Source: World Health Organisation For reference, Australia rates 32, US 44, China 144.

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Chinese economic damage mounts

Let’s start with the weekend virus updates: At 04:00 on February 15th, 31 provinces (autonomous regions, municipalities) and the Xinjiang Production and Construction Corps reported 2009 new confirmed cases, 219 severe cases, and 142 death cases (139 in Hubei and 2 in Sichuan). Cases, 1 case in Hunan), with 1918 new suspected cases. On the

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Alibaba: COVID-19 “black swan event”

This is worth sharing, from Zero Hedge: Alibaba Group’s CEO Daniel Zhang warned Thursday that the Covid-19 outbreak in China is developing into a “black swan event” that could have severe consequences for China and the global economy. Zhang told analysts during a conference call that the company’s fiscal third-quarter results beat expectations but warned of near-term impacts related

13

Markets bid as China blows smoke into COVID-19 numbers

China has issued its full COVID-19 body count numbers now for yesterday. Here’s the update: At 04:00 on February 13th, 31 provinces (autonomous regions, municipalities) and the Xinjiang Production and Construction Corps reported an increase of 5,090 confirmed cases, 2174 severe cases, and 121 death cases (116 in Hubei, 2 in Heilongjiang). Cases, one each

41

Sydney cruise locked down on virus fear (updated)

Throw open the borders! Or not: A passenger aboard a cruise ship docked in Sydney Harbour is being tested for possible coronavirus. The Australian understands that NSW Health are assessing a Singaporean woman who fell ill with respiratory illness. The cruise ship arrived in Sydney this morning having believed to be at other Australian ports

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Lordy, the Angry China diplomats are unpleasant

You must listen to the CCP embassy: “Only Australia and a small number of countries have taken such extreme measures which are overreaction indeed.” “We urge the Australian side to assess objectively and rationally the prevention and control measures taken by the Chinese side and the actual risk faced by Australian side.” Here is the

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China remains firmly shut

Here are the ten biggest cities courtesy of Tom Tom: I think it safe to say that if it’s the top ten then it’s everywhere. This is even more important given the CCP ordered everyone back to work this week. Fat chance. Why would you go when if you do you’ll get hosed with Round-up:

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Why did China’s COVID-19 cases suddenly rocket?

Via Global Times: Central China’s Hubei Province, the epicenter of the novel coronavirus pneumonia (COVID-19) outbreak, began to include the number of clinically diagnosed cases in its daily update for the first time on Thursday. According to the country’s leading epidemiologists, the move was designed to help fix loopholes in curbing the spread of the

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China unveils massive jump in COVID-19 cases

Hubei just unveiled what we already knew in a massive jump in COVID-19 cases: With the deepening of understanding of new coronavirus pneumonia and the accumulation of experience in diagnosis and treatment, in view of the characteristics of the epidemic in Hubei Province, the General Office of the National Health and Health Commission and the

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Can China turn itself back on?

China is currently switched off: How quickly can it turn itself back on? Even in the bull case, not as fast as markets are pricing, via Bloomberg: Economists are turning more pessimistic over the chances of a speedy recovery for China’s virus-hit economy, as evidence mounts that the disruption will be deeper and more long-lasting