Most of China Confidential’s key proprietary indices showed weaker readings on both a MoM and a YoY basis in April, suggesting a continuation of the relatively disappointing recent economic performance.

The growth of job openings for blue-collar workers in China dropped in April MoM and YoY, with the slowdown most pronounced in the service sector as concerns over the spread of bird flu combined with Beijing’s on-going frugality campaign to hit the restaurant and entertainment businesses hard. 

China’s freight volumes slowed down during the first three weeks of April both on a MoM and YoY basis, according to a China Confidential’s survey of 207 rail, road, waterway and air logistics companies across the country. 

DANWEI - Companies moved quickly to publicize their donations to the relief effort for the April 20 earthquake in Ya'an, Sichuan province. Countering the bad press it received in China recently, Apple donated 50 million yuan, but it was topped by Samsung who donated 60 million yuan. Less visible in the aftermath of this year's earthquake was the opprobrium seen in the wake of the 2008 Wenchuan earthquake, when a spurious list of the top ten "international iron roosters" accused global brands like Samsung, Nokia and Coca-Cola of donating nothing to the earthquake relief effort despite reaping in millions in profits in China. This time round, companies have been swift and public about their donations. 

Home sales in first-tier cities have fallen sharply so far this month, down 37% MoM, while overall transaction volumes in the 42 Chinese cities monitored by China Confidential have also softened. 

The China Confidential Rural Wealth Index (CCRWI) rebounded to 52.1 in March, up from 50.1 in February, thanks to a big push on land transfers, helped by regional government initiatives to encourage larger-scale farms. 

Guangzhou is set to withhold pre-selling licenses from developments with unacceptably high prices, the official Xinhua news agency reported on Monday. We think the move highlights how local governments, particularly in first-tier cities, remain under pressure to restrain property markets.

China’s freight volumes slowed down during the first three weeks of April both on a MoM and YoY basis, according to a China Confiential’s survey of 207 rail, road, waterway and air logistics companies across the country.