China quarterly

The projected global recovery this year follows a severe collapse in 2020, Gopinath said. Even though the estimated contraction of 3.5 percent in 2020 is somewhat less dire than the previously projected 4.4 percent contraction, it remains the worst peacetime global contraction since the Great Depression, she said. … [Read more...] about World Insights: China’s remarkable economic performance bolsters global efforts against pandemic, recession

Clark Feng saw export orders for the garden furniture, swings and tents he sells out of China surge 70% last year as lockdowns and social distancing fueled demand. But he's not happy about it.“The more you sell, the more you lose money, what’s the point?,” said Feng, who owns trading company Vita Leisure Co. in the city of Linhai in eastern China. “I don’t know who says we are beneficiaries. We are victims!”With annual revenue of around $5 million, Feng’s firm is one of the million or so small and medium-sized manufacturers and trading businesses that form the backbone of China’s exports. But while orders have flooded in as the Chinese economy recovered quickly from the effects of the virus, Feng and others are reeling from a jump in the yuan, rocketing shipping costs and labor shortages, which have slashed their already wafer-thin margins.The consequences could be severe for China’s growth and add pressure to global inflation. With … [Read more...] about China factories go into overdrive but exporters are not happy

“During the year, we saw innovative channel strategies from leading brands due to changed consumer behavior in the wake of COVID-19. Offline-centric brands such as Samsung, vivo and OPPO increased their online presence.” Youngest brand Realme grew 22% in 2020 and crossed the 20 million units mark for the first time due to continued focus on the budget segment. Going forward, it will focus on increasing its offline reach to cater to the demand from Tier 3 and Tier 4 cities, and expanding into the CIoT (Consumer IoT) segment as well.Poco crossed 2.5 million smartphone units for the first time in Q4 2020. Transsion Group brands (Itel, Infinix and Tecno) kept the momentum in Q4 2020 as well, registering their highest-ever shipments in a single quarter at over 9 million units. Apple captured the sixth spot in Q4 2020 with 171% YoY growth in Q4 and 93% YoY growth in 2020. The launch of the iPhone 12, aggressive offers on the iPhone SE 2020 and iPhone 11, and online expansion … [Read more...] about Smartphone market down 4% on year in 2020, 2H demand supports