China Primary Insight

On November 22, MVST’s chairman posted videos on his LinkedIn account showing significant activity in the factory. We sent people to the plant to verify and found that the company does, in fact, have many employees, but, based on our research, nowh...

We think the majority of MVST’s sales may be fake. MVST’s Chinese customers account for 57% of revenue in 2023, but the China factory shows almost no activity. Our drone videos and photos confirm that. MVST China has disappeared from Chinese proc...

Foreign investment in China is falling: September saw the biggest drop in foreign direct investment that China has ever seen, 34% in Renminbi terms, according to preliminary statistics from the Ministry of Commerce.&nbspMeanwhile, foreign companies are...

Safe haven? Chinese analysts are saying that China provides an island of safety should the current tremors in banking expand into a fullblown crisis. Analysts take pride in China’s ability to suspend market forces and thus avoid a banking crisis. B...

Consumer sentiment remains cautious: The&nbsphigh-frequency data we can find suggests&nbspweak consumption outside of the major cities.&nbspOur own small-gauge survey of consumers&nbspindicated pent desire for travel but otherwise a&nbsplot of caution. No one we spoke...

Crypto mining has seen a quiet resurgence&nbspin China: The ban on crypto mining in 2021&nbspcrushed China’s global hashrate share. But&nbsponce international sources reported that share&nbsphad dropped to nearly zero, meeting regulatory&nbsptargets, regulators eased o...

April saw an acceleration of the bloodbath in China’s&nbspproperty markets. Sales of commercial housing nationwide&nbspin Q1 dropped by 23%. Sales fell by 19% YoY&nbspin February then by 26% in March, according&nbspto the National Bureau of Statistics (NBS).

China’s economic data starting from late March has been very bad.&nbspThe decline in logistics, manufacturing, and consumption will likely reverberate through the economy throughout the year.&nbspAt least half of China’s GDP has been impaired by lockdowns....