Coronavirus: China’s travel sector, already on its knees, feels the pinch of a fresh outbreak (SCMP)
2022-05-13
China eyes incremental policies to shore up growth (Xinhua)
2022-05-13
Chinese universities including Renmin move away from international rankings while aiming for world class (SCMP)
2022-05-13
China Says It Will ‘Strictly Restrict’ People From Entering or Leaving the Country (Caixin)
2022-05-12
China announced Thursday that it “will strictly restrict” people from entering or leaving the country as it races to contain its worst wave of Covid-19 outbreaks since early 2020. The National Immigration Administration said at a meeting on epidemic control efforts Tuesday that it will strictly implement policies on anyone entering or leaving the country, according to an administration statement. The administration said it will strictly limit “unnecessary outbound activities” of Chinese citizens and tighten scrutiny over the issuance of passports, without elaborating. The authority also vowed to tighten border controls, preventing anyone carrying the virus from illegally entering the country, as infected people hinder efforts to maintain the “zero-Covid” policy, according to the statement. The statement came after a Politburo meeting chaired by President Xi Jinping, during which members discussed China’s efforts to fend off the latest wave of outbreaks around the country.
Xi Jinping tells youth league to ‘dare to struggle’ and unify around the Communist Party (SCMP)
2022-05-10
China starts world’s 1st sequential trial on Omicron-specific vaccine (GT)
2022-05-09
Former SPC assistant judge gets 14 years for taking bribes, stealing state secrets (Xinhua)
2022-05-07
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China to prioritize employment in fiscal and monetary policies, mobilize existing assets to boost effective investment (Xinhua)
2022-05-12
Coronavirus: economic toll of China’s latest outbreak ‘10 times more severe’ than Wuhan in 2020 (SCMP)
2022-05-10
China Ramps Up Support for Small Businesses Hit by Covid (Caixin)
2022-05-10
China is calling on local governments to step up assistance to small and micro businesses amid headwinds brought by the worst Covid-19 outbreak in two years. As concern about economic growth and the impact of lockdowns deepens, the nation’s top leadership signaled greater support to shore up the economy. Under a notice sent Monday by the Ministry of Industry and Information Technology (MIIT) and a leading group office at the State Council, local governments were told to actively arrange special support funds for small and micro companies and sole proprietors, especially those affected by the pandemic that have temporary difficulties in operation. The assistance will be in the form of loan discounts and subsidies for rent, utility bills and epidemic prevention costs. To step up financial support for small businesses, major state-owned banks are expected to increase inclusive loans for micro and small businesses by 1.6 trillion yuan ($243.6 billion) this year, a State Council executive meeting said May 5. The state financing guarantee funds and provincial financing guarantee institutions will expand their coverage to provide guarantee services to small, micro and medium-sized companies and sole proprietors, and repay their debts if they are unable to do so, the notice said. Local governments are encouraged to offer electricity bill discounts to small and micro businesses and sole proprietors, allowing them to make up for unpaid water, electricity and gas bills within six months if they face difficulties in production and operations due to the epidemic, the notice said. Key micro, small and medium-sized enterprises in the industrial chain will be included on a list to restart production, and coordinated efforts will be offered to solve difficulties in transportation and accessing raw materials, the notice said. The average broadband rate for micro, small and medium-sized enterprises will be cut by 10%, and training will be provided to help them in digital transition. China’s manufacturing activity contracted in April at the steepest pace in more than two years, a Caixin-sponsored survey showed Saturday, as measures to contain Covid-19 outbreaks in cities including Shanghai disrupted supply chains, halted factory output and squeezed consumption. As of the end of April, 46 Chinese cities were under full or partial lockdown. Those cities accounted for 24.3% of the country’s population and 35.1% of its GDP, economists at Nomura Holdings Inc. wrote in a report. The State Council, China’s cabinet, recently released sweeping guidelines to bolster consumption, calling for greater assistance to businesses hit by the pandemic, including tax cuts, tax refunds and fee reductions to support manufacturing and small companies. China’s GDP grew 4.8% year-on-year in the first quarter, beating expectations, but several major provincial-level regions suffered slowdowns in economic growth because local governments rolled out stringent measures to follow the “zero-Covid” strategy.
China’s tech companies navigate rough seas amid rising geopolitical tensions, slowing growth at home (SCMP)
2022-05-10
China’s central bank vows use of multiple policy tools, prioritizing stability in complex, uncertain environment (GT)
2022-05-09
China’s imports from Russia surge to new high, defying US calls to cut ties over Ukraine war (SCMP)
2022-05-09
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