Microblog insights

Updated: 2012-08-27 08:04

(China Daily)

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Microblog insights

Topic 1: The employment market in China continues to be in a depression according to the HSBC China Manufacturing Purchasing Managers' Index. It dipped to 47.8 for August from July's 49.3, continuing a 10-month string of results below the 50 level, which separates growth from contraction, according to The Wall Street Journal. The PMI is a preliminary gauge of manufacturing industry and hiring. The PMI survey's employment sub-index was 47.7 in August, almost the same as July, showing that firms are laying off workers for the sixth consecutive month.

DORSONN: In Dongguan, Guangdong province, many enterprises still find it hard to recruit enough employees.

GRACERYH It is unlikely the economy will survive long if it simply depends on the financial and property markets when manufacturing is showing continued weak activity.

ILOVEOLDPIG: I think it is time to show concern for private enterprises because large-scale job cuts happen most among them. The private companies used to account for 70 percent of the nation's employment market. They've long suffered the dilemma of having trouble financing and paying higher taxes. If the government still doesn't help them out of the difficulty, then all the graduates will have to apply to be civil servants.

FUYUBULUO: The employment issue should be put top of the agenda before tax and expenditure reductions.

A-KEY-A: The enterprises should do their utmost to safeguard employees' welfare and benefits and society should act to prevent enterprises from taking all the responsibilities and risk.

POWERXIAODADA: I think the employment market might further tighten.

TAOYUANCAPTAINJACK: It's no wonder that the stock market tumbled today.

MA_SHU: Small and medium-sized enterprises make up almost 80 percent of the country's working population. The unemployment tide is inevitable while the enterprises are struggling and in a dilemma.

Microblog insights

Topic 2: The foreign sportswear maker Nike Inc will increase the price of its shoes and apparel by 5 to 10 percent, Guangzhou Daily newspaper reported. As is known, Nike will introduce the most expensive sports shoes ever - the 10th generation LeBron basketball shoes - this autumn. They are expected to be sold for $315. Analysts said the rising cost of raw materials and transportation in the past two years has put great pressure on Nike's profitability. Its latest financial reports showed that its total sales in China, its second-largest market, for the fourth fiscal quarter ending on May 31 reached $667 million, falling 3.89 percent from the third fiscal quarter. Micro-bloggers are expressing different opinions on the price-hike move.

ZHUZHUYIN: A pair of Nike shoes would cost me half of my monthly salary.

CAIJINGZHOULAOSHI: The money is all spent on brand-building. Customers spend 2,000 yuan to buy a concept. What a fraudulent way it is to treat customers, especially the youth.

QIYEHE365: Nike products should enter the line of luxury products then.

AMBER20: I think the cost mainly refers to the spending on advertising front men and women.

LINGWEI-LEVENT: Those expensive shoes are designed for the second generation of the wealthy. For ordinary customers like me, let's buy the domestic brands with a discount offer.

WXLCULTURE: Even the big brands now cannot stand up to the pressure of increasing costs.

YUXIANSEN: I stopped buying Nike products last year because their products are too expensive and the quality fails to match their high prices.

CODING2000: Too much pressure from rising costs? With this price? If it is true, I think the reason is that Nike employees are enjoying quite high wages.

All the information is from Sina Weibo.