MNI China Daily Summary: Monday, January 27

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MNI China Press Digest Jan 27: Land Revenue, Shenzhen, Power

MNI picks keys stories from today's China press
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsEM Central Bank NewsPeoples Bank of ChinaPolicy StoryStoryRegion

Highlights from Chinese press reports on Monday: 

  • Declining local government land-sale revenue is expected to narrow to single digits in 2025, given the ongoing structural adjustment in the property sector, according to Luo Zhiheng, chief economist at Yuekai Securities. Ministry of Finance data showed land-sale revenue fell 16% last year. Luo said authorities had increased optimism given the acceleration of high-quality plots and revitalising land, however, corporate confidence in acquiring land remained low given high debt risks. (Source: 21st Century Business Herald)
  • Shenzhen’s GDP increased 5.8% y/y in 2024, with primary, secondary and tertiary industries up 1.5%, 8.3% and 4.3% y/y, according to data from the Shenzhen Municipal Bureau of Statistics. The added value of computer, communication and other electronic equipment sectors grew 11.0% y/y, with 3D printing equipment, industrial robots up 35.8%, 31.8% y/y. Total retail sales of consumer goods rose 1.1% y/y. (Source: Yicai)
  • China’s eight major industries, which include ferrous, non-ferrous and construction sectors, have seen electricity demand grow by 43.5% since the start of the 14th Five-Year Plan, demonstrating the nation’s progress in industrial upgrading, according to Jiang Debin, deputy director at the China Electricity Council. The country’s electricity consumption is expected to increase about 6% this year, a recent report from the China Electricity Council showed. Electricity’s share of total energy demand will reach about 34% in 2030, up from 29% last year, the report noted. (Source: Yicai)
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Highlights from Chinese press reports on Monday: 

  • Declining local government land-sale revenue is expected to narrow to single digits in 2025, given the ongoing structural adjustment in the property sector, according to Luo Zhiheng, chief economist at Yuekai Securities. Ministry of Finance data showed land-sale revenue fell 16% last year. Luo said authorities had increased optimism given the acceleration of high-quality plots and revitalising land, however, corporate confidence in acquiring land remained low given high debt risks. (Source: 21st Century Business Herald)
  • Shenzhen’s GDP increased 5.8% y/y in 2024, with primary, secondary and tertiary industries up 1.5%, 8.3% and 4.3% y/y, according to data from the Shenzhen Municipal Bureau of Statistics. The added value of computer, communication and other electronic equipment sectors grew 11.0% y/y, with 3D printing equipment, industrial robots up 35.8%, 31.8% y/y. Total retail sales of consumer goods rose 1.1% y/y. (Source: Yicai)
  • China’s eight major industries, which include ferrous, non-ferrous and construction sectors, have seen electricity demand grow by 43.5% since the start of the 14th Five-Year Plan, demonstrating the nation’s progress in industrial upgrading, according to Jiang Debin, deputy director at the China Electricity Council. The country’s electricity consumption is expected to increase about 6% this year, a recent report from the China Electricity Council showed. Electricity’s share of total energy demand will reach about 34% in 2030, up from 29% last year, the report noted. (Source: Yicai)