{"id":2202012,"date":"2023-08-17T08:00:17","date_gmt":"2023-08-16T23:00:17","guid":{"rendered":"https:\/\/koreapro.org\/?p=2202012"},"modified":"2023-11-20T16:20:10","modified_gmt":"2023-11-20T07:20:10","slug":"china-opts-to-withhold-youth-unemployment-data-amid-economic-woes","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/08\/china-opts-to-withhold-youth-unemployment-data-amid-economic-woes\/","title":{"rendered":"China opts to withhold youth unemployment data amid economic woes"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">China\u2019s National Bureau of Statistics spokesperson Fu Linghui <\/span><a href=\"https:\/\/www.chinadaily.com.cn\/a\/202308\/15\/WS64db0857a31035260b81c3ea.html\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> on Tuesday the bureau will cease disclosing its youth unemployment rate following several months of steep rises, citing the need for \u201congoing improvements in statistical practices.\u201d The unemployment rate among surveyed Chinese youth aged 16 to 24 rose to <\/span><a href=\"https:\/\/www.chinadaily.com.cn\/a\/202307\/18\/WS64b57260a31035260b816e10.html\"><span style=\"font-weight: 400;\">21.3% in June<\/span><\/a><span style=\"font-weight: 400;\">, compared with 20.8% in May and 20.4% in April. The decision has fueled speculation about the genuine rationale behind Beijing\u2019s sudden move.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This development comes on the back of <\/span><a href=\"http:\/\/www.pbc.gov.cn\/en\/3688006\/index.html\"><span style=\"font-weight: 400;\">the Central Bank of the People\u2019s Republic of China\u2019s<\/span><\/a> <a href=\"https:\/\/www.reuters.com\/world\/china\/china-central-bank-cuts-rates-second-time-three-months-support-economy-2023-08-15\/\"><span style=\"font-weight: 400;\">slashing<\/span><\/a><span style=\"font-weight: 400;\"> of two key lending rates aimed at invigorating an economy showing signs of distress. Further, the yuan\u2019s <\/span><a href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-jones-08-15-2023\/card\/china-s-yuan-hits-a-2023-low-after-central-bank-cuts-key-rates-NtS3sz8Rj0NB0yuYQd2o\"><span style=\"font-weight: 400;\">depreciation<\/span><\/a><span style=\"font-weight: 400;\"> against the U.S. dollar exemplifies Beijing\u2019s economic challenges.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">China\u2019s decision to halt reporting its youth unemployment rate and other key economic indicators suggest possible concerns within its domestic economy. This development, combined with previous <\/span><a href=\"https:\/\/www.ft.com\/content\/8073cd37-bbf1-46f0-ad31-43ef88283393\"><span style=\"font-weight: 400;\">reports<\/span><\/a><span style=\"font-weight: 400;\"> that South Korea\u2019s exports to the U.S. surpassed those to China for the first time in nearly two decades and Beijing\u2019s emphasis on its \u201c<\/span><a href=\"https:\/\/english.www.gov.cn\/2016special\/madeinchina2025\/\"><span style=\"font-weight: 400;\">Made in China 2025<\/span><\/a><span style=\"font-weight: 400;\">\u201d policy, highlights potential impacts on South Korea\u2019s economy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If these trends lead to a reduction in disposable income or consumer confidence among Chinese citizens, their propensity to travel abroad, including to destinations like South Korea, could be impacted. South Korean businesses, especially those that rely on Chinese tourist spending, may find their sales more muted than initially <\/span><a href=\"https:\/\/www.yna.co.kr\/view\/AKR20230810109500003?section=search\"><span style=\"font-weight: 400;\">anticipated<\/span><\/a><span style=\"font-weight: 400;\">. Even as Chinese group tours to South Korea <\/span><a href=\"https:\/\/en.yna.co.kr\/view\/AEN20230810006400315?section=search\"><span style=\"font-weight: 400;\">resume<\/span><\/a><span style=\"font-weight: 400;\">, the broader economic health of China may play a significant role in actual tourist outflows and spending patterns.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>China\u2019s National Bureau of Statistics spokesperson Fu Linghui announced on Tuesday the bureau will cease disclosing its youth unemployment rate following several months of steep rises, citing the need for \u201congoing improvements in statistical practices.\u201d The unemployment rate among surveyed Chinese youth aged 16 to 24 rose to 21.3% in June, compared with 20.8% in [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2202793,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24],"class_list":["post-2202012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China opts to withhold youth unemployment data amid economic woes - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/08\/china-opts-to-withhold-youth-unemployment-data-amid-economic-woes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China opts to withhold youth unemployment data amid economic woes - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"China\u2019s National Bureau of Statistics spokesperson Fu Linghui announced on Tuesday the bureau will cease disclosing its youth unemployment rate following several months of steep rises, citing the need for \u201congoing improvements in statistical practices.\u201d The unemployment rate among surveyed Chinese youth aged 16 to 24 rose to 21.3% in June, compared with 20.8% in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2023\/08\/china-opts-to-withhold-youth-unemployment-data-amid-economic-woes\/\" \/>\n<meta property=\"og:site_name\" content=\"KOREA PRO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-16T23:00:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-20T07:20:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2023\/08\/eb-15.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"548\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KOREA PRO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2023\/08\/china-opts-to-withhold-youth-unemployment-data-amid-economic-woes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2023\/08\/china-opts-to-withhold-youth-unemployment-data-amid-economic-woes\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/b9766dba611638edc06a6e0b7078714d\"},\"headline\":\"China opts to withhold youth unemployment data amid economic woes\",\"datePublished\":\"2023-08-16T23:00:17+00:00\",\"dateModified\":\"2023-11-20T07:20:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/08\/china-opts-to-withhold-youth-unemployment-data-amid-economic-woes\/\"},\"wordCount\":275,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/08\/china-opts-to-withhold-youth-unemployment-data-amid-economic-woes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/08\/eb-15.png\",\"keywords\":[\"Business &amp; 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