…Enjoy the further reading on the Year of the Tiger
● China’s economy will grow 5.8% and with a 20% of the global economy, China will take care of almost 30% of the global growth, contributing more than its fair share.
● Major spill-over effects of the risks of any new bubbles in the real estate sector, like those caused by Evergrande in 2021, will be mitigated by concerted efforts of Chinese regulators including the People’s Bank of China and the China Banking and Insurance Regulatory Commission.
● Europe and China lead the fast global growth of electrical vehicles -fully and hybrid – (EV). Unlike others, we expect China to stay ahead of Europe. What’s more, many Europeans will climb behind the wheels of Chinese EV as the number of Chinese EV brands in Europe reaches 10 including MG, Polestar and EVs from newcomers like Nio, BYD, Dongfeng, Aiways, XPeng and Great Wall. With their arrival, some of us will no longer charge our EV but will swapping our batteries.
● Chinese citizens, foreigners living in China and tourists will get used to pay in China with the official digital yuan, the E-CNY. We will see the first international trials for cross-border transactions with Thailand and the United Arab Emirates.
● Bitcoin and mining bitcoins is banned in China. That said: ‘Blockchain is a breakthrough technology, 10 times more valuable than the internet’ according to President Xi. China will announce blockchain standards for non-fintech sectors, such as for carbon trading and to track products, like food and medicines, across the supply chain.
