Global Financial Crisis Effect on China Economy
First Closedown Large-scale Factory in China
The world largest toy ODM—two factories under the flag of SMART UNION GROUP (HOLDINGS) LIMITED had been closed down. 6500 employees are facing the unemployment! This is the largest bankruptcy case in China because of the financial crisis.
Foreign media: Financial Crisis makes RMB become Hard Currency
An article from “Deutsche Welle” claims that one of the changes from financial crisis is the renminbi will become the hard currency on a par with the U.S. dollars.
Serious Financial Crisis makes possible Negative Growth in the Chinese Automobile Market next year
Acquired the favor from “Share God” Buffett, chairman of BYD Automobile Wang Chuanfu expressed the fully optimistic attitude to auto market in 2009: it is at least not lower than 10% growth rate.
Do not have Pessimistic Attitude on Chinese Macroeconomic Trends
Chinese economic prospects are not bleak as expected by the market, as the United States financial crisis will not change Chinese economic trends. Chinese economic growth momentum remains strong and still stays in high-growth cycle. This status of Chinese economy has not been affected by the U.S. financial crisis.
China is researching and preparing to introduce measures on downward economy in China
Deputy Director of the National Development and Reform Commission, Du Ying said that Chinese economy in the second half of this year appeared the downward trend and has aroused great concern from the State Council; they were researching and preparing to introduce a series of measures.
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