Economy/Resources - 10. page

Primary Taiwanese news agency Central News Agency (CNA) recently reported that China’s National Bureau of Statistics has released China’s unemployment data for July. The unemployment rate for young people aged 16 to 24 was 17.8 percent, up 3.3 percentage points from June. This is not only the highest this year, but also the highest since August 2024.

The Bureau’s number only includes the unemployment rate for urban areas across the country, and excludes students. The unemployment rate for workers aged 25 to 29 was 6.9 percent, up 0.2 percentage points from June. In previous graduation seasons, China’s youth unemployment rate also showed a similar upward trend. In August 2024, the youth unemployment rate for those aged 16 to 24 in China was 18.8 percent.

Source: CNA, August 19, 2025
https://www.cna.com.tw/news/acn/202508190257.aspx

According to a recent report from China Business Network (CBN), several of China’s top regulatory bodies held a joint symposium on August 19 to regulate competition within the photovoltaic industry. The news was first announced that evening on the official social media account of the Ministry of Industry and Information Technology. The Ministry co-hosted the meeting along with the Central Social Work Department, the National Development and Reform Commission, the State-owned Assets Supervision and Administration Commission of the State Council, the State Administration for Market Regulation, and the National Energy Administration.

This meeting to combat vicious competition, held by the Ministry of Industry and Information Technology, is highly confidential, and the participating companies have signed confidentiality agreements. Therefore, the detailed content and results of the meeting have not yet been revealed. It is expected that the details will cover the battery, component assembly, silicon wafer, and polysilicon sectors.

Sources close to the meeting told the reporter that the leaders of several silicon material companies reached a consensus on issues such as production reduction, controlling new production start-ups, and managing sales. They have reportedly reached a basic agreement, which includes specific methods for controlling inventory. Agreements were also reached on the production and sales of polysilicon, and there are relatively clear plans for the next four months from September to December.

The government required all parties in the photovoltaic industry to deeply understand the importance of regulating competition for the high-quality development of the industry. Key aspects of the regulations are: strengthening industrial regulatory balance; curbing low-price disorderly competition; standardizing product quality; and supporting industry self-regulation.

Source: CBN, August 20, 2025
https://www.yicai.com/news/102782123.html

An Internet article stated that China’s Supreme People’s Court issued a judicial interpretation on August 1 stating that beginning September 1, workers cannot legally waive social security insurance, even if they gave consent to their company; rather, they can sue employers who fail to pay.

The author pointed out that economically, mandatory contributions reduce workers’ take-home pay, hitting small businesses hardest and possibly pushing firms to switch their full-time employees to contractors (then they don’t have to pay for their benefits and social obligations). The article also criticizes rigid rules like a 20-year pension contribution and opaque fund management, which create uncertainty about future benefits.

The author concludes: it’s not that people need social security insurance – but rather, it is that the social security funds need us to contribute to remain solvent.

Source: Utopia, August 6, 2025
https://www.wyzxwk.com/Article/shehui/2025/08/511706.html

Primary Taiwanese news agency Central News Agency (CNA) recently reported that the Passenger Car Market Information Joint Committee of the China Automobile Dealers Association (CPCA) just released its July National Passenger Car Market Analysis Report. In July, the retail sales of passenger cars increased by 6.3 percent year-over-year, and the retail sales of new energy vehicles increased by 12 percent year-over-year. July’s auto sales growth slowed significantly compared to June.

The reason behind this significant slowdown is inseparable from the Chinese government’s efforts to crack down on price wars in the auto industry. China’s auto industry faces major problems like overcapacity and price wars. Government officials began working to rectify the vicious competitive environment in the first half of this year. China’s Ministry of Industry and Information Technology (MIIT) announced at the end of May that it would intensify its efforts to combat unfair competition in the auto industry, promote the “optimization and adjustment” of the industry structure, strengthen government inspections, and cooperate with relevant agencies in anti-unfair competition law enforcement.

Source: CNA, August 8, 2025
https://www.cna.com.tw/news/acn/202508080273.aspx

China has recently intensified efforts to combat cutthroat competition across key industries, with the Ministry of Industry and Information Technology (MIIT) convening a meeting on July 28th to outline priorities for the second half of the year. The ministry specifically targeted the new energy vehicle and solar energy sectors for enhanced governance, aiming to raise industry standards and force inefficient capacity to exit the market.

The national conference of industrial and information technology officials in Beijing outlined eight key focus areas for the remainder of the year, including expanding domestic demand, clearing outstanding corporate debts, advancing high-quality development in key industrial chains, promoting integration between technological and industrial innovation, and accelerating reform implementation to address race-to-the-bottom competition—defined as ineffective competition that lacks beneficial outcomes.

MIIT emphasized strengthening governance in the new energy vehicle and solar energy industries, using elevated standards to eliminate backward production capacity. The ministry indicated that relevant departments are working to establish comprehensive long-term mechanisms to combat over-competition, with related institutional and legal regulatory systems becoming increasingly refined.

The campaign has gained momentum across multiple sectors, with industry associations in steel, cement, battery, and plastic processing issuing calls against disorderly competition. According to Wei Qijia, director of the Industrial Economics Research Office at the National Information Center’s Economic Forecasting Department, this comprehensive approach targets improper practices that violate market and industrial development principles, aiming to better leverage market mechanisms in resource allocation.

Recent data shows positive price changes in affected industries. In June, conventional and new energy vehicle manufacturing prices rose 0.5% and 0.3% respectively month-over-month. Solar equipment and electronic component manufacturing prices fell 10.9% year-over-year, though the decline narrowed by 1.2 percentage points. Lithium-ion battery manufacturing prices dropped 4.8% compared to the previous year, with the decline narrowing by 0.2 percentage points.

Source: Central News Agency (Taiwan), July 30, 2025
https://www.cna.com.tw/news/acn/202507300171.aspx

China News recently reported that due to the manufacturing industry entering the traditional off-season, high temperatures in some areas, heavy rains and floods, China’s manufacturing purchasing managers’ index (PMI) fell to 49.3 percent in July – according to China’s National Bureau of Statistics.

In the manufacturing PMI, the production sub-index and new orders sub-index were 50.5 percent and 49.4 percent respectively, both down from the previous month. Manufacturing production activities continued to expand, while market demand slowed down. The raw materials price sub-index and the ex-factory price sub-index were 51.5 percent and 48.3 percent respectively. This indicates the overall factory price level in the manufacturing market continues to drop.

In July, the PMI for large enterprises was 50.3 percent, down 0.9 percentage points from the previous month. The PMI for medium-sized enterprises was 49.5 percent, up 0.9 percent from June. The PMI for small enterprises fell again to 46.4 percent.

Source: China News, July 31, 2025
https://www.chinanews.com.cn/cj/2025/07-31/10456794.shtml