China's boom towns face big economic obstacles

Article Abstract:

The industrial output growth of China's coastal special economic zones (SEZ) have plunged to their lowest levels since 1980, largely due to the impact of overbuilding, spiralling costs and tight credit. Although the economies of SEZs like Shenzhen are still expanding at double-digit rates, signs of economic pressures have begun manifesting themselves. Officials are denying that the SEZs are not as economically healthy as they used to be, but economists believe that official reports often tend to hide the actual condition of the zones.

Industrial districts, Enterprise zones

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Northeast region rolls with the punches

Article Abstract:

Layed off workers in Northeast China's factory towns remain optimistic despite the economic downturn in the region. A number of factories in Acheng, China have retrenched workers or dissolved operations in response to the country's financial woes. However, displaced workers take in stride the downturn and continue to remain optimistic about the future. Such attitude may be attributed to the government's effort to lessen the effect of the downturn by providing low-cost housing and reducing food prices.

National Income & Expenditure, Beliefs, opinions and attitudes, Chinese, Chinese (Asian people)

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Chinese lending austerity is feeding illegal practices

Article Abstract:

An underground financial network is expanding in China two years after the government implemented financial austerity measures. Unofficial lending has been thriving due to the increase in loan sharks and illegal loans from banks. Underground borrowing is seen to persist until banking reforms are initiated and market mechanisms that will regulate interest rates and money supply are developed.

All Other Nondepository Credit Intermediation, NONDEPOSITORY INSTITUTIONS, Nonmonetary Institutions NEC, Financial institutions, Underground economy, Loans

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