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Monthly Archives: January 2022 - 8. page

China Reiterated “Real Estate is a Pillar Industry”

Shanghai-based Chinese financial news site East Money recently reported that, at the 2021-2022 China Economics Annual Conference held on December 11, Ning Jizhe, deputy director of the National Development and Reform Commission and director of the National Bureau of Statistics, once again set the tone and emphasized “real estate is a pillar industry.” The Last time the same policy tone was set was in 2017. Based on the Central Economic Work Conference’s requirement on economic stability in 2022, this new signal is clear: economic stability requires real estate market stability. Analysts also pointed out that, as the pillar industry of the domestic economy, real estate needs to continue playing the role of the economic stabilizer. The reason is that real estate industry accounts for a relatively high proportion of the national economy and there are many related industries. Objectively speaking, real estate must develop stably and healthily. Otherwise it will have a greater impact on the industrial economy, the national economy, and macroeconomics. Usually after such tone-setting, it is expected that a series of local policies supporting real estate will be introduced.

Source: East Money, December 20, 2021
https://caifuhao.eastmoney.com/news/20211220183703403330760

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Xi’An’s Pandemic Lockdown Impacted Global Chip Supply

Well-known Chinese news site Sohu (NASDAQ: SOHU) recently reported that globalization demonstrated its power when a critical supply chain like the one for chip supply got impacted by lockdown policies in the Chinese city of Xi’An. Samsung issued an announcement on December 29 that its Xi’An manufacturing factories’ schedule had to be adjusted for the protection of the health of the employees due to the breakout of Covid in the city. Samsung has two large scale 3D NAND factories in Xi’An, which hold 42.3 percent of Samsung’s capacity, or 15.3 percent of the global supply. Samsung warned about the significant reduction of its output and stopped offering NAND quotes. Samsung is the world’s largest NAND Flash provider with a global market share of 34 percent. At the same time, Xi’An also has Micron’s DRAM memory packaging and testing plant. Micron is the world’s third largest DRAM chip manufacturer. The company said the factory is seeing manufacturing delays due to a lack of labor; as a result, new supply arrangements may be delayed accordingly. The Micron factory is currently running at 40 to 50 percent of its capacity. All these will cause the global short-term supply of storage semiconductors to face uncertainty.

Source: Sohu, December 30, 2021
https://www.sohu.com/a/513328179_351305

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