Based in Shanghai, Senior Fellow at the Yicai Research Institute, CIGI and the University of Alberta's China Institue.
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Articles by Mark Kruger
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China will adopt a "two launches, lunar orbit rendezvous" architecture for its manned lunar exploration program, Xinhua reported, citing Wang Xiang, the program's chief designer. Under the scheme, two rockets would separately send the Lanyue lunar lander and Mengzhou crewed spaceship into the Earth-Moon transfer orbit, and the two would rendezvous and dock in lunar orbit.
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GAC Group’s shares [SHA: 601238] rose 2.6% as of 11.10 a.m. today, after the Chinese carmaker said its net loss widened 42% to CNY2.5 billion (USD375 million) in the third quarter from a year earlier due to intense domestic market competition, increased investment for its new models under subsidiary Aistaland, despite revenue rising 18% to CNY28.4 billion (USD4.3 billion).
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The International Astronautical Federation sees the next four years as a crucial turning point for the space sector, where climate urgency, orbital congestion, and mounting capital demands drive the transition toward a more sustainable commercial ecosystem and create opportunities for emerging spacefaring nations, Executive Director Christian Feichtinger said at the World Laureates Forum in Shanghai today.
Is the Chinese Economy Firing on Just One Cylinder?
Is the Chinese Economy Firing on Just One Cylinder? audio is not supported! Is the Chinese Economy Firing on Just One Cylinder? (Yicai) Oct. 29 -- When economists analyze the National Accounts, they focus on the contributions the components of aggregate demand make to GDP growth. Consumption and investment represent domestic demand, while net exports (exports minus imports) reflect foreign demand.
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Leveraging European derivatives and MSCI China futures is becoming increasingly important for investors seeking to manage market risks and optimize portfolio allocations, Mathieu Fuhrmann, APAC sales head at Eurex, one of the world's largest futures and options markets, said in an interview with Yicai. As markets become more sophisticated, Eurex remains focused on helping global institutional investors improve capital efficiency while gaining access to a broader range of products, he added.
Bringing Confidence Back to the Market: China’s New Real Estate Regulations
Bringing Confidence Back to the Market: China’s New Real Estate Regulations audio is not supported! Bringing Confidence Back to the Market: China’s New Real Estate Regulations (Yicai) Sept. 23 -- On August 28, regulators released a sweeping packageof new rules aimed at rebuilding the financial model that underpinned China’s property boom. To understand what they're fixing and why they are fixing it, it helps to compare China's ongoing real estate downturn with the US housing bust of the mid-2000s.
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The Case Against Panicking
(Yicai) Aug. 19 -- After a decade in which they had largely faded from the headlines, global imbalances have returned to the center of international economic debate. Understanding Global Imbalances, a fulsome analysis of their causes and risks, was presented to the IMF Executive Board in April. According to this policy paper, capital flows from surplus countries can create vulnerabilities by depressing global interest rates and encouraging risky leverage.
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Growth Slows But No Need to Panic
Q2 GDP: Growth Slows But No Need to Panic audio is not supported! Q2 GDP: Growth Slows But No Need to Panic (Yicai) July 22 -- The data released by China’s National Bureau of Statistics (NBS) for the second quarter were disappointing. GDP grew by 4.3 percent year-over-year, slower than the 4.5 percent forecast by Yicai’s survey of Chief Economists and the slowest rate recorded since the fourth quarter of 2022.
The Great Railroad Strike of 1877 and St. Louis Commune & the 2027 Commemoration
The Great Railroad Strike of 1877 and St. Louis Commune & the 2027 Commemoration On The 150th Anniversary By Mark Kruger “With a purpose of revolution, with organization and leadership, it was within the grasp of the railroad employees and other classes of laborers to have taken possession of every center of the nation; aye! Even to have overturned the Government itself.” A.J. Dacus, Annals of the Great Strikes in the United States Following three wage cuts, an increased work load, and...
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We sent you a code Enter it below to verify via You'll need a password Make sure it's 8 characters or more SHOW PASSWORD/HIDE PASSWORD Success! Welcome to Yicai Global Find your Yicai Global account Check your email We've sent an email to with a confirmation code. Enter the code below to reset your password. If you don't see the email, check your junk, spam or other folders. Change your password Strong passwords include numbers,letters,and special characters.
Is the Renminbi Really Undervalued?
(Yicai) July 8 -- Last month, European Central Bank President Christine Lagarde told a Brussels audience that global leaders needed to talk about the renminbi. Citing IMF research, she said China's currency was undervalued by 15 to 16 percent once its exchange rate was adjusted for cross-country inflation differences. Her comments came days after a G7 summit in France that made global imbalances a priority, though without formally addressing currency valuation.
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Advancing the Chinese yuan internationalization does not depend on a single pathway, but rather focuses on diversified development as the core future direction, Ashor Nick Sarupen, South Africa's deputy finance minister, said during #AMNC26 yesterday.
China’s Economy: Ambition and Challenges
CIGI Paper No. 356 China is in debt. Its debt is nearly 300 percent of its GDP, the fourth highest among the G20. Nevertheless, China has set the ambitious goal of doubling its per capita income from 2020 levels by 2035. Significant challenges stand in its path: its rising debt, a shrinking labour force and growing protectionist pressures.
What Explains the Turnaround in Chinese Industrial Profits?
(Yicai) June 22 -- In the first four months of the year, China’s industrial firms have recorded a striking turnaround in their profitability. In aggregate, industrial enterprises made CNY 2.4 trillion, up 18 percent from the January-to-April period in 2025 (Figure 1). Industrial profits are highly cyclical. They surged in 2021–22, when exports expanded vigorously, as China’s economy proved more resilient to pandemic-related disruptions than those of other major countries.
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