Posted on 09/04/2022 4:39:43 PM PDT by nickcarraway
China is suffering one of its worst earnings recessions on record as Beijing’s zero-Covid policy and a real estate crisis take their toll on the country’s listed companies.
More than 4,800 Chinese companies listed in Shanghai, Shenzhen and Beijing have now released their earnings for the first half of the year. It was a bloodbath.
As many as 53% posted a decline in net profit, according to data from Wind and Choice, two major financial information services in the country. That was almost as bad as 2020, when companies posted their worst earnings season on record as the country came to a near standstill during the initial coronavirus outbreak. Back then, 54% of listed companies saw their profit drop in the first six months.
(Excerpt) Read more at cnn.com ...
When I was actively managing funds I had a simple China Rule:
Good news: Divide by 10
Bad news: multiply by 10
I didn’t trust any number from China: not biz. Not Gov’t.
Serve me well.
More COVID lock downs coming for China
Democrats are envious
Democrats will Copy!
Too much of China is facade, for its own good.
Related - in a way. Kinda long vid, title is click-bait-ish, the vid drags a bit in spots, but other parts are quite illuminating:
https://www.youtube.com/watch?v=rZGXO5Aln9w
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