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China’s Housing Market Deepens Historic Decline Despite Policy Support

China’s property sector continues to spiral downward, with fresh data showing record declines across development investment, home sales, and land revenue—underscoring the depth of the country’s prolonged real estate slump. Despite a raft of government support measures, the market shows little sign of stabilizing, prompting renewed calls from policymakers for stronger intervention.

According to the National Bureau of Statistics, real estate development investment fell 13.9 percent year-on-year in the first three quarters of 2025 to 6.77 trillion yuan (about $950 billion). Residential investment dropped 12.9 percent to 5.20 trillion yuan ($730 billion), marking the steepest decline since 2021. The indicator has remained negative since April 2022 and returned to double-digit contraction in April 2025.

Land sale revenues further highlight the market’s freeze. After plunging 44 percent from the 2021 peak to 4.87 trillion yuan ($683 billion) in 2024, revenues fell again to 2.23 trillion yuan ($313 billion) in the first three quarters of this year.

Sales of new commercial housing also continued to slide. The total floor area sold decreased 5.5%, while sales revenue fell 7.9% to 6.30 trillion yuan ($884 billion). Both measures have been in decline since 2021, and the downturn—after briefly narrowing last year—accelerated again from April 2025, reaching the widest margins of the year.

The price weakness has now spread across the entire market. September marked the first month in 2025 when used-home prices fell in all 70 cities tracked by the government. Even major cities such as Beijing, Shanghai, and Shenzhen—where authorities introduced rescue measures in August—saw continued price declines.

Yin Yanlin, vice chairman of the National Committee’s Economic Committee and former deputy director of the Central Financial and Economic Affairs Commission Office, warned that current policies remain inadequate. He urged shifting the government’s focus from “suppressing price increases” to “supporting price increases,” emphasizing that real estate remains the biggest drag on fixed-asset investment and could serve as a vital link between investment and household consumption.

Source: Central News Agency (Taiwan), October 23, 2025
https://www.cna.com.tw/news/acn/202510230256.aspx

Korean Display Technology Leak to China Under Investigation

South Korean authorities have launched an investigation into the alleged leak of proprietary display technology from LG Display to Chinese companies, according to reports from Yonhap News Agency on October 13.

The Seoul Metropolitan Police Agency’s Industrial Technology Security Investigation Unit conducted a search and seizure operation at LG Display’s Paju factory on October 2, following a tip-off about possible technology theft. Two employees at the facility are suspected of leaking confidential technical information to Chinese firms and are being investigated for violating the Industrial Technology Protection Act.

During the raid, investigators reportedly found that one suspect had photographed hundreds of pages of internal company documents, suggesting a coordinated attempt to extract sensitive material.

The case reflects a broader pattern of industrial espionage targeting South Korean high-tech industries. Police data show 27 technology theft cases uncovered last year and eight more in the first half of this year—25 of which involved China as the destination for the stolen technology. The figures highlight Beijing’s particular interest in South Korea’s advanced industrial know-how.

The incident has heightened concerns in Seoul over the protection of strategic technologies, especially in the display sector, where South Korea remains a global leader. LG Display, one of the world’s top producers of LCD and OLED panels, could face serious competitive risks if its proprietary technologies are compromised.

Authorities are continuing their investigation to determine the full extent of the leak and whether additional individuals or companies were involved in the alleged transfer of technology.

Source: Yonhap News Agency, October 13, 2025
https://cn.yna.co.kr/view/ACK20251013001800881

Germany’s Critical Dependence on Chinese Pharmaceutical Supplies Raises Alarm

Germany has become heavily dependent on China for essential pharmaceutical supplies, raising concerns about national health security. A new study warns that if Chinese suppliers were to halt production, Germany could face an annual shortage of 42 million medicine packages, with no alternative sources available.

The report, commissioned by the German generic drug association Pro Generika and conducted by the German Economic Institute (IW), found that 68% of active pharmaceutical ingredients (APIs) used in Europe come from Asia—24% from China and 37% from India. The reliance is even greater in antibiotics: 47% of global antibiotic production facilities are in China, 27% in India, and only 23% in Europe.

A stress test by the researchers showed that any disruption in Chinese supply chains would leave tens of millions of medicine packages unavailable each year. Of 56 critical active ingredients examined, 20 were categorized as high-risk, while only 10.2% of Europe’s API demand can currently be met by domestic production.

The study also revealed that 81% of Germany’s vitamin imports and 76% of antibiotic raw materials originate from China. Key medicines such as the diabetes drug Metformin and the painkiller Paracetamol could face severe shortages if Chinese exports were interrupted.

Andreas Burkhardt, chairman of Pro Generika, warned that Germany’s dependence on Chinese pharmaceutical production “makes the country politically vulnerable.” Jasmina Kirchhoff of IW Cologne noted that this dependency is not coincidental, citing China’s fast-growing innovation capacity—especially in biotechnology—as a major factor driving Europe’s reliance.

David Francas of the Medical Supply Chain Institute added that dependence increases further up the supply chain, with certain raw materials almost entirely sourced from China. In the United States, he noted, 87% of medicines rely on Chinese raw materials.

Currently, Germany’s Federal Institute for Drugs and Medical Devices lists around 540 medicines as facing supply shortages—underscoring how fragile Europe’s pharmaceutical supply chains have become.

Source: Sputnik News, October 22, 2025
https://sputniknews.cn/20251022/1068020301.html

China to Train Pakistan’s First Astronauts in Historic Space Cooperation

China has announced plans to select and train Pakistan’s first astronauts, marking the first time Beijing will conduct such a program for another nation. The announcement was made during a press conference for the Shenzhou 21 manned space mission at the Jiuquan Satellite Launch Center.

The initiative follows a bilateral cooperation agreement signed in February between China and Pakistan. The astronaut selection process has now officially begun and will unfold in three stages: an initial screening in Pakistan, followed by secondary and final selections in China. Once chosen, two Pakistani astronauts will undergo training alongside their Chinese counterparts.

Ultimately, one astronaut will be selected to join a short-term flight mission aboard China’s space station as a payload specialist, performing standard crew duties and conducting scientific experiments on behalf of Pakistan.

A spokesperson for China’s manned space program emphasized that the country’s space initiatives have consistently adhered to the principles of peaceful use, equality, mutual benefit, and shared development. China, the spokesperson added, welcomes international astronauts to participate in its missions and looks forward to deepening collaboration with the global space community.

The China–Pakistan space cooperation agreement, signed on February 28 in Islamabad between China’s Manned Space Engineering Office and Pakistan’s Space and Upper Atmosphere Research Commission (SUPARCO), marks a major milestone in the two nations’ strategic partnership. The year-long selection and training program underscores China’s expanding role in international space collaboration and Pakistan’s growing ambitions in space science and exploration.

Source: Central News Agency (Taiwan), October 30, 2025
https://www.cna.com.tw/news/acn/202510300120.aspx

South Korea Navigates Anti-China Protest Debate Ahead of APEC Summit

A South Korean youth group, Free University, has drawn national attention with protests that have ignited debate over rising Sinophobia in the country. Demonstrators were seen tearing Chinese national flags printed with portraits of President Xi Jinping and Wang Huning, Chairman of the Chinese People’s Political Consultative Conference, while chanting slogans critical of Chinese nationals. The incidents have sparked widespread discussion about the limits of political expression in South Korea.

The protests intensified following the government’s September 7 announcement of a temporary visa exemption policy for Chinese tour groups, aimed at boosting economic recovery. The move triggered backlash among segments of the public opposed to visa-free entry for Chinese visitors, fueling broader debate over Seoul’s China policy.

President Lee Jae-myung addressed the controversy by drawing a distinction between freedom of speech and what he described as “disruptive behavior,” saying the demonstrations had crossed that line. His comments underscore the administration’s cautious approach to managing domestic dissent during a sensitive diplomatic moment.

The unrest comes as South Korea prepares to host the 2025 APEC Leaders’ Summit in Gyeongju from October 31 to November 1, where both Chinese President Xi Jinping and U.S. President Donald Trump are in attendance. The protests and ensuing public debate present a delicate challenge for the Lee administration, which must balance domestic sentiment with diplomatic priorities. The situation highlights enduring tensions between South Korea’s economic engagement with China and the increasingly polarized public attitudes toward its powerful neighbor.

Source: BBC Chinese, October 28, 2025
https://www.bbc.com/zhongwen/articles/c8r0yjmpgzno/simp

From Designer Dreams to Civil Service: China’s Youth Navigate Economic Downturn and Age Discrimination

China’s economic slowdown has reshaped a generation’s career ambitions. Once drawn to private-sector opportunities, many young professionals are now turning toward the stability of government jobs amid long working hours, shrinking prospects, and the pervasive “35-year-old crisis.”

A decade ago, Mu Cheng graduated from a top Shanghai university dreaming of becoming a designer. The booming economy offered endless possibilities, and private firms were seen as places for creativity and growth. But after the pandemic, instability hit hard—companies folded, salaries fell, and overtime became relentless. Walking alone through Shanghai’s empty financial district near midnight, Mu questioned whether her sacrifices were worth it.

Age discrimination deepened her worries. The “35-year-old crisis,” reinforced by public job postings limiting applicants to under 35, has spread across industries. Private companies increasingly replace older employees with younger, cheaper hires. A Shanghai economist notes that many professionals in their late thirties now face unemployment, often resorting to gig work to survive.

After years of career turbulence, Mu pursued graduate studies abroad but returned disillusioned with the private sector. Like millions of Chinese youth, she began preparing for civil service exams, seeking security over ambition. The once-praised “wolf spirit” of China’s younger generation has largely given way to a “lying-flat” mindset reflecting diminished economic expectations.

Now 34, Mu regrets her early career choices but remains focused on landing a government position. Although the civil service age limit recently rose from 35 to 38, her designer dreams have become side projects. For many like her, stability has replaced passion as China’s economy redefines what success means for its youth.

Source: Central News Agency (Taiwan), October 28, 2025
https://www.cna.com.tw/news/acn/202510280269.aspx

Seventh China-U.S. Sister Cities Conference Convenes in Hangzhou

The Seventh China-U.S. Sister Cities Conference was held in Hangzhou, Zhejiang Province, from October 25 to 27, co-hosted by the Chinese People’s Association for Friendship with Foreign Countries and the Zhejiang Provincial Government.

Under the theme “Closer Cooperation, Sustainable Future,” the event brought together over 180 representatives from various sectors across 36 counties and cities in 28 U.S. states, along with delegates from 26 Chinese provinces, autonomous regions, and municipalities. It marked the largest and highest-level local exchange between China and the United States in recent years.

Participants engaged in in-depth discussions and shared insights on topics including education, innovation, and sustainable development. They highlighted the important role of sister city partnerships in deepening mutual understanding and enhancing the well-being of both peoples.

At the conclusion of the conference, attendees issued the “Hangzhou Consensus,” calling on people from all sectors of Chinese and American society to actively support and participate in sister city cooperation amid ongoing global challenges. The document emphasizes the importance of advancing collaboration in areas such as culture, education, and youth exchanges, reflecting a shared commitment to fostering stable, healthy, and sustainable China-U.S. relations.

The conference underscored that local-level engagement remains a crucial channel for maintaining and strengthening ties between the two nations, even amid broader diplomatic complexities.

Source: People’s Daily, October 28, 2025
https://paper.people.com.cn/rmrb/pc/content/202510/28/content_30111830.html

Australian PM Raises Concerns Over South China Sea Flare Incident During Meeting with Chinese Premier

Australian Prime Minister Anthony Albanese met with Chinese Premier Li Qiang in Kuala Lumpur on October 27, amid renewed tensions following a South China Sea confrontation between the two countries’ militaries. During the meeting, Albanese directly raised concerns over a Chinese military aircraft’s use of flares near an Australian patrol plane, while Li urged for stronger bilateral cooperation and stability in ties.

According to China’s Ministry of Foreign Affairs, Li expressed satisfaction with the positive momentum in China-Australia relations and called for deeper strategic alignment and policy coordination. He highlighted the role of dialogue mechanisms such as the China-Australia Strategic Economic Dialogue and Joint Economic Commission, and expressed interest in upgrading the bilateral free trade agreement to further expand economic cooperation.

Li also pledged continued support for Chinese investment in Australia, urging Canberra to ensure an open, transparent, and non-discriminatory environment for Chinese businesses. He further emphasized cooperation in youth exchanges, education, and tourism, areas that have seen steady recovery since the normalization of bilateral ties.

For his part, Albanese said Australia remains committed to maintaining open communication with China, deepening mutual understanding, and managing differences responsibly, while expanding cooperation in trade and other areas of shared interest. After the meeting, Albanese told reporters that he had raised the flare incident “directly and clearly,” calling it “a matter of concern” for Australia.

The meeting marked the seventh encounter between the two leaders since relations began to thaw in 2022, underscoring both sides’ willingness to address disagreements through dialogue despite ongoing friction.

The latest tensions stem from an October 19 incident in which Australia accused a Chinese fighter jet of firing flares near an Australian patrol aircraft over the South China Sea—an act Canberra described as unsafe and unprofessional. Beijing rejected the accusation, saying the Australian aircraft had violated Chinese sovereignty and that its forces took lawful and necessary countermeasures.

Beyond the South China Sea, Australia and China continue to vie for influence in the Pacific region, where both nations are seeking to strengthen defense and development partnerships with island states.

Source: Central News Agency (Taiwan), October 27, 2025
https://www.cna.com.tw/news/acn/202510270194.aspx