Cao Li (@caocli) header
Cao Li (@caocli) profile picture

Cao Li

@caocli

Hong Kong–based journalist. Previously @WSJ and @nytimes. DM for signal

 Hong Kong
Joined July 2010
  • Tweets141
  • Following1.9K
  • Followers1.6K
1Media
Photo by Cao Li (@caocli)
China’s Middle Class Is Losing Its Confidence—After decades in which the country’s economic miracle created an optimistic middle class, a slowdown has now left it shaken @caocli wsj.com/world/china/why-chin… wsj.com/world/china/why-chin…
Why China’s Middle Class Is Losing Its Confidence

Why China’s Middle Class Is Losing Its Confidence

For years, China’s new generation of middle class were able to take a booming economy for granted. Their increasing nervousness could be a major problem for Beijing.

wsj.com
2
13
1
30
9,436
With China’s real-estate crisis set to get worse, developers and local governments have resorted to bizarre marketing strategies to attract home buyers wsj.com/world/china/desperat… via @WSJ w/@caocli
Desperate Chinese Property Developers Resort to Bizarre Marketing Tactics

Desperate Chinese Property Developers Resort to Bizarre Marketing Tactics

The country’s real-estate slump is getting worse—and looks set to drag on for years.

wsj.com
1
8
786
Liu Yuan, head of property research at Centaline, said that without government help, new-home prices will need to drop by another 50% from current levels before they reach a bottom, with the tipping point only coming when it is cheaper to buy than to rent. wsj.com/world/china/desperat…
Desperate Chinese Property Developers Resort to Bizarre Marketing Tactics

Desperate Chinese Property Developers Resort to Bizarre Marketing Tactics

The country’s real-estate slump is getting worse—and looks set to drag on for years.

wsj.com
1
3
3
6
5,166
China’s real-estate crisis has dragged down the economy, caused massive layoffs and pushed multibillion-dollar companies to the point of collapse. Economists think it’s about to get worse. @RebeccaYFeng @caocli wsj.com/world/china/desperat… wsj.com/world/china/desperat…
Desperate Chinese Property Developers Resort to Bizarre Marketing Tactics

Desperate Chinese Property Developers Resort to Bizarre Marketing Tactics

The country’s real-estate slump is getting worse—and looks set to drag on for years.

wsj.com
1
10
2
17
4,745
Replying to @JChengWSJ @caocli
The danger of contagion risk has now passed, says Zhaopeng Xing, a strategist at ANZ. But Xiaoxi Zhang of Gavekal Dragonomics said there could still be a knock-on impact. “Domestic investor sentiment may turn even worse, especially for wealthy investors.” wsj.com/finance/chinese-fina…
Chinese Company That Sparked Fears of Financial Contagion Falls Into Bankruptcy

Chinese Company That Sparked Fears of Financial Contagion Falls Into Bankruptcy

A calamitous year for Zhongzhi, which was a big player in China’s roughly $3 trillion trust sector, led to worries that the world’s second-largest economy was facing a “Lehman moment.”

wsj.com
1
1
1,696
Chinese Company That Sparked Fears of Financial Contagion Falls Into Bankruptcy @caocli wsj.com/finance/chinese-fina… wsj.com/finance/chinese-fina…
Chinese Company That Sparked Fears of Financial Contagion Falls Into Bankruptcy

Chinese Company That Sparked Fears of Financial Contagion Falls Into Bankruptcy

A calamitous year for Zhongzhi, which was a big player in China’s roughly $3 trillion trust sector, led to worries that the world’s second-largest economy was facing a “Lehman moment.”

wsj.com
4
3
1
4
2,705
China’s economy showed modest signs of improvement in October as consumer spending picked up, but the country’s prolonged property slump worsened. @caocli @ByXiaoXiao @raffaelehuang wsj.com/world/asia/chinas-co… wsj.com/world/asia/chinas-co…
China’s Retail Spending Picks Up, as Housing Slump Deepens

China’s Retail Spending Picks Up, as Housing Slump Deepens

Consumption is strengthening, but economists called for policy makers to do more to support the momentum.

wsj.com
1
2
4
2,756
After being stuck in a housing downturn for two years, cities across China are giving developers the go-ahead to cut prices in a bid to revive sales. They are quickly running into resistance from homeowners who don’t want to see home values fall. @caocli wsj.com/world/china/chinas-p…
China’s Property Developers Cut Prices—and Homeowners Are Resisting

China’s Property Developers Cut Prices—and Homeowners Are Resisting

Local governments are grappling with the challenge of allowing home prices to fall.

wsj.com
2
12
21
7,023
Chinese shoppers are increasingly looking for bargains, lifting shares of companies that cater to budget-conscious shoppers even as the nation’s broader market stumbles. @caocli wsj.com/business/retail/inve…

These Stocks Are Booming, and That’s Bad News for China’s Growth

Chinese shoppers are increasingly looking for bargains, lifting shares of companies that cater to budget-conscious shoppers even as the nation’s broader market stumbles.

wsj.com
1
2
9
7,264
Replying to @JChengWSJ @RebeccaYFeng @caocli
Country Garden's financial distress could create far bigger problems for the economy and policy makers than Evergrande’s debt default in 2021. Country Garden focused much of its enormous footprint on rural cities—an engine of China’s growth in good times. wsj.com/world/china/china-ec…
An Even Bigger Housing Crisis Threatens China’s Economy

An Even Bigger Housing Crisis Threatens China’s Economy

Two years after Evergrande’s fall, distressed property giant Country Garden could create worse problems.

wsj.com
1
1
4
1,347
An Even Bigger Housing Crisis Threatens China’s Economy—Two years after Evergrande’s fall, distressed property giant Country Garden could create bigger problems @RebeccaYFeng @caocli wsj.com/world/china/china-ec…
An Even Bigger Housing Crisis Threatens China’s Economy

An Even Bigger Housing Crisis Threatens China’s Economy

Two years after Evergrande’s fall, distressed property giant Country Garden could create worse problems.

wsj.com
1
6
15
7,474
“It’s not that they don’t want to buy houses. They have the purchasing demand, but they are just waiting,” Yan Songsheng, a sales manager at a state-owned developer, said of clients in Zhuhai, where sales are a quarter of average levels, despite discounts. wsj.com/articles/chinas-home…
China’s Home Buyers Are Waiting Out the Property Slump

China’s Home Buyers Are Waiting Out the Property Slump

The wait-and-see attitude of home buyers is deepening the slump and complicating policy makers’ attempts to revive economic growth.

wsj.com
1
2
5
2,509
Replying to @JChengWSJ @caocli @RebeccaYFeng
“Certainly no one wants to see Country Garden fail,” said Yao Yu, the founder of YY Rating, a Chinese credit research firm. That would set off another panic about other developers that are still standing, which could drag the sector down further, he added. wsj.com/articles/chinas-hous…
China’s Housing Troubles Derail a Developer’s Comeback

China’s Housing Troubles Derail a Developer’s Comeback

The country’s largest surviving developer is again struggling to convince investors that it can weather the storm.

wsj.com
1
2
6
2,025
Country Garden, China’s largest surviving developer, is again struggling to convince investors that it can weather the storm wsj.com/articles/chinas-hous… via @WSJ w/ @caocli
China’s Housing Troubles Derail a Developer’s Comeback

China’s Housing Troubles Derail a Developer’s Comeback

The country’s largest surviving developer is again struggling to convince investors that it can weather the storm.

wsj.com
3
9
676
Chinese consumers are being frugal when buying everyday items from toothbrushes to shampoo, a worrisome trend for a country that is trying to shake off the effects of the coronavirus pandemic. @caocli wsj.com/articles/chinese-con…
Chinese Consumers Pinch Pennies on Staples as Pandemic Habits Linger

Chinese Consumers Pinch Pennies on Staples as Pandemic Habits Linger

The average selling prices of toothbrushes, infant formula and makeup are declining as businesses adapt to circumstances.

wsj.com
2
14
3
38
40,728
Since June, economists have been hoping for a big stimulus package that could boost demand for property. Instead, regulators have continued to focus on making it easier for property companies to get loans, or roll over old ones. @caocli @RebeccaYFeng wsj.com/livecoverage/stock-m…
China's Property Sector Didn't Get the Boost Economists Were Hoping For

China's Property Sector Didn't Get the Boost Economists Were Hoping For

Those betting that Chinese regulators would give a big boost to the country’s struggling property sector had their hopes dashed on Monday—at least for now. Two powerful regulators announced a series...

wsj.com
1
9
14
3,244
How Beijing resolves Guizhou’s debt issues will have ramifications for investors and banks across China that own a lot of local government debt wsj.com/articles/one-of-chin… via @WSJ w/@caocli
A Poor Province in China Splurged on Bridges and Roads. Now It’s Facing a Debt Reckoning.

A Poor Province in China Splurged on Bridges and Roads. Now It’s Facing a Debt Reckoning.

Guizhou province has jaw-dropping landscapes and some of the world’s highest bridges—and outstanding debt of about 1.3 times its gross domestic product.

wsj.com
11
23
4
44
24,379
Banks across China are slashing deposit rates, after a year that saw their profits being squeezed by lower lending rates and record-high savings levels. @caocli wsj.com/articles/cutting-dep…
Cutting Deposit Rates Has Become Mission Critical for Chinese Banks

Cutting Deposit Rates Has Become Mission Critical for Chinese Banks

Cheap lending has hit banks’ interest margins, which could weaken their capital positions.

wsj.com
2
5
1
9
4,473
When banks in China cut interest rates last year to boost lending and help the country’s slumping housing market, they set off an unintended wave of home-loan prepayments. @caocli @RebeccaYFeng wsj.com/articles/chinese-con…
Chinese Consumers’ Lack of Confidence Is Causing a Rush of Mortgage Prepayments

Chinese Consumers’ Lack of Confidence Is Causing a Rush of Mortgage Prepayments

Worries about future income levels and poor investment returns are pushing borrowers to repay debt early.

wsj.com
2
13
2
26
15,195
When China’s private real-estate developers started sliding into distress more than a year ago, Beijing urged state-owned companies to take over projects. Most didn't— a big reason why the housing market remains in the doldrums today. @RebeccaYFeng @caocli on.wsj.com/3KlFVlu
China’s State-Owned Firms Are Sitting Out the Property Rescue

China’s State-Owned Firms Are Sitting Out the Property Rescue

Beijing has encouraged state-owned property companies to step in and take over their ailing private peers’ projects and assets, but the call has gone largely unheeded.

wsj.com
1
8
2
24
9,627
Load more