Tag Archives: Yuan

China: Daily Scan, January 13, 2022

China’s new yuan loans rise in 2021: Xinhuanet
January 12, 2022

China’s new yuan-denominated loans totaled 19.95 trillion yuan (3.13 trillion U.S. dollars) in 2021, up 315 billion yuan year on year, central bank data showed Wednesday. In December alone, new yuan loans stood at 1.13 trillion yuan, down 123.4 billion yuan year on year, according to the People’s Bank of China (PBOC).Click here to read…

China unveils plan to boost digital economy in 2021-2025 period: Xinhuanet
January 12, 2022

China’s State Council on Wednesday rolled out a plan to facilitate the development of the digital economy in the 14th Five-Year Plan period (2021-2025). The country aims to raise the proportion of the added value of core digital economy industries in its GDP to 10 percent in 2025, up from 7.8 percent in 2020, according to the plan.Click here to read…

China’s NEV sales top globally for 7 consecutive years: Xinhuanet
January 12, 2022

China ranked first globally in terms of the sales of new energy vehicles (NEVs) for a seventh straight year in 2021, despite economic uncertainties and supply-chain pressure, official data showed Wednesday. The country’s NEV sales came in at 3.52 million units last year, according to the Ministry of Industry and Information Technology (MIIT).Click here to read…

China aims high in agricultural sci-tech innovation: Xinhuanet
January 13, 2022

China is striving to beef up its innovation capacity in agricultural science and technology to further safeguard food security of the country, according to a five-year development guideline of the Chinese Academy of Agricultural Sciences (CAAS) released on Wednesday.Click here to read…

Xi’s Party school lecture highlights CPC’s historical confidence: China Military
January 12, 2022

Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, called on Tuesday for efforts to deepen the review, study, education and promotion of the CPC’s history so as to better understand and make good use of the historical experience of the Party over the past century.Click here to read…

Foreign car companies record mixed performances in Chinese market in 2021 with chip shortage becoming a headache for some firms: Global Times
January 12, 2022

Foreign car companies showed a mixed performance in the Chinese market last year with some brands, like BMW and Porsche, recording a surge in sales, while some companies are facing the challenge of a widespread chip shortage. According to a report by the Securities Times, sales of German automaker BMW in China hit a historical record in 2021. The company delivered 846,237 units in China last year, up 8.9 percent on a yearly basis. Following the same trend, Porsche delivered 95,671 cars in China in 2021, up 8 percent from the previous year, the report showed. Click here to read…

Nation to ramp up 6G innovations, satellite-empowered networks: Global Times
January 12, 2022

China vowed to increase support for 6G innovations and promote 6G international standardization in a digital economy development plan for 2021-25 released on Wednesday, reiterating the country’s ambition of maintaining its edge in the ultrafast 6G era, despite challenges and hurdles.Click here to read…

China steps up construction along disputed Bhutan border, satellite images show: Reuters
January 13, 2022

China has accelerated settlement-building along its disputed border with Bhutan, with more than 200 structures, including two-storey buildings, under construction in six locations, according to satellite image analysis conducted for Reuters. The images and analysis supplied to Reuters by U.S. data analytics firm HawkEye 360, which uses satellites to gather intelligence on ground-level activities, and vetted by two other experts, provide a detailed look into China’s recent construction along its frontier with Bhutan.Click here to read…

New US report dismisses Beijing’s claim to South China Sea ‘historical rights’: South China Morning Post
January 13, 2022

The US government stepped up its criticism of China’s territorial claims in the South China Sea on Wednesday, issuing a report that declares “historical rights” a meaningless term.
Referencing the 1982 United Nations Convention on the Law of the Sea (Unclos) and an international ruling dismissing most of China’s claims in the South China Sea, the US State Department said in its report, titled Limits in the Seas, that they “gravely undermine the rule of law in the oceans”.Click here to read…

China: Daily Scan, November 11, 2021

China reiterates firm opposition to U.S.-Taiwan official exchange, military contact: Xinhuanet
November 10, 2021

A Chinese mainland spokesperson said Wednesday that the mainland resolutely opposes official exchanges and military contacts of any form between the United States and China’s Taiwan region. Zhu Fenglian, a spokesperson for the Taiwan Affairs Office of the State Council, made the statement in response to reports that a group of U.S. Congress members including Senator John Cornyn arrived in Taiwan by a military airplane and planned to meet with Tsai Ing-wen. Click here to read…

China’s new yuan loans rise in October: Xinhuanet
November 10, 2021

China’s new yuan-denominated loans totaled 826.2 billion yuan (about 129.2 billion U.S. dollars) last month, up 136.4 billion yuan from the same period last year, central bank data showed Wednesday. The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.7 percent year on year to 233.62 trillion yuan at the end of October, according to the People’s Bank of China. Click here to read…

China to improve employment benefits for technical school graduates: Xinhuanet
November 10, 2021

China will improve employment benefits for technical school graduates in the 2021-2025 period, according to a five-year plan published by the Ministry of Human Resources and Social Security. Works will be done during the 14th Five-Year Plan period (2021-2025) to allow technical school graduates to enjoy relevant policies on employment, entrepreneurship and army recruitment, as well as those on the granting of professional titles and employment in public institutions, says the plan. Click here to read…

Training on treatment of injuries and diseases on plateau concludes in Lhasa: China Military
November 11, 2021

The PLA concluded its first training course on prevention and treatment of diseases and injuries in high-altitude environment recently in Lhasa, the provincial seat of Xizang Autonomous Region. The training was organized by the General Hospital of the PLA Xizang Military Command and instructed by the high-altitude sickness department under the PLA Army Medical University. All the trainees are military backbones assigned to the grass-roots units in the plateau areas. Click here to read…

China welcomes private capital in ecological protection: People’s Daily
November 11, 2021

China is set to encourage and support private capital in ecological protection and restoration, according to a circular released by the General Office of the State Council. Some regions have suffered serious damages and degradation in ecosystems and thus need wider social participation in ecological protection and restoration, the circular stated. Click here to read…

State assets oversight to be strengthened, official says: China Daily
November 10, 2021

China’s top legislature will strengthen oversight of State-owned assets and strengthen the effectiveness of such supervision, according to an official from the National People’s Congress Standing Committee’s Budgetary Affairs Commission. Zhang Yongzhi, director of the commission’s research office, made the remarks on Tuesday, announcing they will establish a tracking system to determine whether problems involving State-owned assets are rectified and those who made the problems are kept accountable. Click here to read…

Xi calls on concerted APEC efforts to combat virus, accelerate green growth, but avert forming ‘small circles’: Global Times
November 11, 2021

Chinese President Xi Jinping called on concerted effort to combat COVID-19 in the Asia-Pacific community, abandoning forming small circles on geopolitical grounds, while reaffirmed the country’s pledges of green transition and opening-up policy during his keynote speech delivered at the APEC CEO Summit via a prerecorded video on Thursday. Click here to read…

Beijing bourse opens on November 15 with 10 new stocks set to debut: Global Times
November 11, 2021

A total of 10 new stocks will be listed on the Beijing Stock Exchange on November 15, marking the official opening of the Beijing bourse. The 10 stocks, including Keda Automation Control, Anhui Jingsai Technology Co, and other companies, all issued statements on the National Equities Exchange and Quotations (NEEQ), known as the New Third Board on Wednesday, announcing their shares will be listed on the Beijing bourse on November 15. Click here to read…

China’s Communist Party to wrap up key meeting as Xi strengthens power: Reuters
November 10, 2021

China’s Communist Party will wrap up a meeting on Thursday that is set to culminate with a resolution that consolidates President Xi Jinping’s authority, a year before he is expected to secure a precedent-breaking third term as party leader. The sixth plenum of the central committee, a group of some 370 party members that chooses its new leaders every five years, has been meeting since Monday behind closed doors in Beijing, accompanied by a drumbeat of state media propaganda. Click here to read…

Chinese scientists strike early gold in race to nuclear fusion power: South China Morning Post
November 11, 2021

At a Shanghai facility the size of a soccer field, Chinese scientists are firing powerful laser beam pulses at a tiny pair of gold cones in a bid to replicate the nuclear fusion process at the heart of the sun. The cones, as small as pencil tips, have narrow ends which face each other and emit a plasma of hydrogen. When the two hot gas streams collide at precisely the right time and place, and in the right manner, they trigger a fusion reaction – the process which ultimately could provide a source of endless, sustainable energy. With government funding of 1 billion yuan over six years, Zhang Zhe and his colleagues from the Chinese Academy of Sciences’ Institute of Physics in Beijing began their unprecedented experiments at the Shenguang II laser facility in Shanghai last summer. Click here to read…

China: Daily Scan, October 22, 2021

China vows closer ties with Pacific Island countries says, FM: Xinhuanet
October 22, 2021

Chinese State Councilor and Foreign Minister Wang Yi said on Thursday that China is willing to work with Pacific Island countries for a closer comprehensive strategic partnership. Wang made the remarks while chairing the first China-Pacific Island Countries Foreign Ministers’ Meeting via video link. Click here to read…

Oaths by 16 HKSAR district council members announced invalid: People’s Daily
October 21, 2021

The Hong Kong Special Administrative Region (HKSAR) government on Thursday announced that oaths taken by 16 District Council (DC) members on Oct. 8 were invalid. The HKSAR government held the oath-taking ceremony for DC members from the Tsuen Wan District Council, the Tuen Mun District Council, the Yuen Long District Council, the Kwai Tsing District Council and the Islands District Council at North Point Community Hall on Oct. 8. Click here to read…

Ex-vice minister of culture stands trial for bribery charges: People’s Daily
October 22, 2021

Li Jinzao, former vice culture and tourism minister of China, on Thursday appeared in court for charges of accepting bribes while holding various positions from 1996 to 2020. The first trial of Li’s case was held at the Intermediate People’s Court of Shenyang City, northeast China’s Liaoning Province. Click here to read…

China issues guideline on green development in urban, rural areas: China Daily
October 22, 2021

The general offices of the Communist Party of China Central Committee and the State Council have issued a guideline underpinning green development in urban and rural areas. The guideline sets a target that by 2025 the institutional mechanisms and policy systems for green development in urban and rural areas will be basically established. Click here to read…

Over 9,000 candidates compete for position in Xizang border town postal dept: Global Times
October 22, 2021

More than 9,000 candidates have signed up for a position in the postal department in Ali prefecture, Southwest China’s Xizang Autonomous Region in the upcoming national civil servant examination, making it the current hottest ticket in the governmental official selection process. Click here to read…

Chinese mainland, HK deepen cooperation in fintech regulation, yuan market: Global Times
October 22, 2021

The People’s Bank of China (PBC), the central bank, and the Hong Kong Monetary Authority (HKMA) have signed a memorandum of understanding (MoU) on regulatory cooperation in fintech innovation, under which fintech supervision tools of the PBC and HKMA will be connected, according to a statement issued by the PBC on Thursday. Also on Thursday, Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR), vowed that the city will further boost the offshore yuan market and promote the internationalization of the yuan. Click here to read…

Chinese scientists build anti-satellite weapon that can cause explosion inside exhaust: South China Morning Post
October 22, 2021

A team of Chinese military researchers say they have built and tested an anti-satellite robotic device that can place a small pack of explosives into a probe’s exhaust nozzle.

Rather than blowing the satellite into pieces, the melt-cast explosive can produce a “time-controlled, steady explosion”, Professor Sun Yunzhong and colleagues from the Hunan Defence Industry Polytechnic in Xiangtan wrote in a paper published in the domestic journal Electronic Technology & Software Engineering last month. The device could stay inside the satellite for an extended period by using a locking mechanism driven by an electric motor. If needed, the process can be reversed to separate it from the target. Click here to read…

China to pursue digital trade expansion under new five-year plan as cross-border data flow restrictions remain in place: South China Morning Post
October 21, 2021

China is seeking to step up development of digital trade, a segment that is shaping into an integral part of the economy, amid questions that this effort might be impeded by the country’s restrictions on cross-border data flows. That plan was set out by the Ministry of Commerce (Mofcom) under its 14th five-year plan for trade in services, which was published on Tuesday. The agency pledged to support the trade of digital products, to foster a good environment for digital products to go overseas, and to explore the trading of data. It will also push for traditional trade in services to digitalise. Click here to read…

Huawei, SMIC suppliers received billions worth of licenses for U.S. goods: Reuters
October 22, 2021

Suppliers to Chinese telecoms giant Huawei and China’s top chipmaker SMIC got billions of dollars worth of licenses from November through April to sell them goods and technology despite their being on a U.S. trade blacklist, documents released by Congress showed on Thursday. According to the documents, first obtained by Reuters, 113 export licenses worth $61 billion were approved for suppliers to ship products to Huawei while another 188 licenses valued at nearly $42 billion were greenlighted for Semiconductor Manufacturing International Corp (SMIC). Click here to read…

China’s Ping An Bank says its overdue loans rise on Baoneng liquidity crunch: Reuters
October 22, 2021

China’s Ping An Bank Co Ltd said its “special-mention” and overdue loans increased in the third quarter mainly due to a liquidity crunch at Shenzhen Baoneng, a property and financial services conglomerate. Ping An Bank’s outstanding special-mention loans – debts that could potentially turn sour – rose by 37.3% in the third quarter from the end of 2020, while outstanding loans and interests overdue within 90 days increased 32.5%, according to the bank’s earnings report released on Wednesday. Click here to read…