Despite the intensified trade dispute with U.S. this year, China's pharmaceutical market still keeps its door open to the world. In this May, the government has removed the tariff on 28 categories of imported drugs. Chinese Premier Li Keqiang has also advocated for healthcare, medical insurance, and pharmaceutical reforms by expanding the coverage of basic medical insurance and accelerating approvals process to boost sales.
China’s GDP grew by 6.7% in the second quarter of 2018, which is slightly down from 6.8% in the first quarter. The impact of the intensified trade war seems to be modest on GDP growth, as the Chinese economy is no longer export-driven. It is the domestic consumption, which accounts for more than half of its GDP that contributes the majority of China's economic growth.
Private education in China has experienced a rapid growth recently and become a significant segment of the overall education market. Compared to public schools, it is considered as a better quality option for the rising middle-class population, because some public schools admit students based on the proximity of their family home instead of their meritocracy.
China has been benefited from demographic dividend for many years. However, the population of new-born babies decreased by 630,000 in 2017, even after the two-child policy being implemented for a year. Meanwhile, the proportion of the aging population keeps growing. It is estimated that more than a quarter of the population will be over 60-year-old in 2030. The shrinking workforce may drive China into a "middle-income trap" that the country gets old before becoming rich, which may drag down the growth of China's economy.
Since Trump's new tariffs policy on steel and aluminum imports targeted specifically at China, an intensified fight between China and United States has inevitably kicked off. The ever increasing trade deficit from China over the past decades is regarded as a signal of the weakness and economic loss in U.S. And the "Made in China 2025" blueprint, which is aiming to transform China from a labor-intensive economy into advanced manufacturing economy, will certainly accelerate this trade imbalance and will also be considered as a big threat to U.S.
China's overheated housing market in the first-tier cities are recently struggling with a slow-down growth due to the quickly developing rental market and unfavorable government policies such as higher mortgage rates, down-payment requirements, and limits on buying extra houses for investment. Therefore, the hot housing market has now spread from first-tier cities-- Beijing, Shanghai, Shenzhen and Guangzhou to their surrounding city clusters- Beijing-centered Jing-Jin-Ji region (shorthand for Beijing-Tianjin-Hebei), Shanghai centered Yangtze River Delta and Guangzhou-Shenzhen centered Pearl River Delta. These three regional economic hubs now account almost 44% of the housing sales in China.
Chinese white liquor, which is also known as Baijiu has become a must-have product to celebrate Chinese New Year. Price of high-end brands has even hiked ahead of this holiday season. Kweichow Maotai, the most famous Baijiu brand in China has an 18 percent price rise on average, with its flagship product Flying Fairy's recommended retail price increasing from 1,299 RMB ($206) to 1,499 RMB ($237). In stores, these prices have even reached 2,000 RMB ($316).
In China, cash is rapidly becoming obsolete. Nowadays Chinese people can go by with only 100 RMB (about $15) in cash for more than one month due to the rise of mobile payment. Whether you want to grab a breakfast at a food truck, hail a taxi, unlock a shared bike, pay for utilities, or reward a busker, mobile payment is always there for you.
China’s and US’s New Energy Vehicles leaders BYD and Tesla have both aspired to disrupt the mass transit industry.Tesla’s CEO Ellon Musk envisions a series of underground roadways that ferry vehicles from and to destinations using electric tracks, whereas BYD’s CEO Chuanfu Wang turns his eyes onto the sky. His innovation is to construct an elevated monorail system called Skyrail in cities of China and all over the world.