China: Daily Scan, February 9, 2022
Kota Mallikarjuna Gupta, Research Associate, VIF
Former senior official of Henan indicted for graft: Xinhuanet
February 9, 2022

Gan Rongkun, a former senior official of central China's Henan Province, has been indicted on charges of taking bribes, the Supreme People's Procuratorate (SPP) said Wednesday. Gan had been a member of the Standing Committee of the Communist Party of China Henan Provincial Committee and secretary of the political and legal affairs commission of the provincial Party committee, the SPP said in a statement. Click here to read...

China's top legislature slams U.S. bill with negative China content: Xinhuanet
February 8, 2022

The National People's Congress (NPC), China's top legislature, has voiced strong dissatisfaction with and firm opposition to a U.S. bill containing negative content related to China. The so-called "America COMPETES Act of 2022," recently passed by the U.S. House of Representatives, is steeped in Cold-War mentality and zero-sum game mindset, and denigrates China's development path as well as its domestic and foreign policies, the NPC Foreign Affairs Committee said in a statement. Click here to read...

China boasts over 1.4 mln 5G base stations: Xinhuanet
February 8, 2022

China has set up a total of 1.43 million 5G base stations as of the end of 2021 amid the country's efforts to boost information and communication technologies, according to the Ministry of Industry and Information Technology. Click here to read...

China's banks handle record 3.13 trln yuan of non-performing assets in 2021: Xinhuanet
February 8, 2022

China's banking sector handled 3.13 trillion yuan (about 492.4 billion U.S. dollars) worth of non-performing assets last year, effectively reducing credit risks, official data showed. The figure saw an increase by 0.11 trillion yuan from a year ago, a record high, according to the China Banking and Insurance Regulatory Commission. Click here to read...

China approves more cross-border e-commerce pilot zones: Xinhuanet
February 8, 2022

China's State Council has approved setting up more cross-border e-commerce pilot zones in 27 cities and regions as the government seeks to stabilize foreign trade and foreign investments. The new pilot zones, including those in Erdos in Inner Mongolia and the city of Yangzhou in Jiangsu Province, will replicate and advance the experience learned from the previous five batches of pilot zones, according to a statement released by the State Council. Click here to read...

China to further open up high-level education: Xinhuanet
February 8, 2022

China will continue to advance the opening-up of its high-level education, the Ministry of Education (MOE) said in its key tasks for 2022 released Tuesday. Efforts will be made to step up cooperation with other countries in the sector, such as advancing the high-quality development of the Education Action Plan for the Belt and Road Initiative and stepping up cooperation with ASEAN countries in vocational education and mutual recognition of academic qualifications, according to the ministry. Click here to read...

China to enhance regulation of off-campus tutoring: Xinhuanet
February 8, 2022

China will enhance its regulation of off-campus tutoring by stepping up legislation and enhancing supervision, said the Ministry of Education in its 2022 work plan. According to the plan, posted on its official website on Tuesday, the ministry will conduct regular inspections on national holidays, at weekends, as well as in winter and summer vacations. Any off-campus tutoring activities featuring curriculum subjects during these periods will be shut down, said the ministryClick here to read...

China issues 5-year plan for financial standardization: People’s Daily
February 9, 2022

China's financial regulators have issued a plan to advance standardization of the financial sector over the 14th Five-Year Plan period (2021-2025). The authorities plan to improve standardization in a wide range of areas, including supervision, risk prevention, financial technology, green finance and digital currency, with the goal of basically establishing a financial standard system that fits modern finance in 2025. Click here to read...

Second-hand goods a first choice for more Chinese: People’s Daily
February 8, 2022

Right after moving into her new apartment, Li Yuanyuan, a designer living in Shanghai, set up an online group chat and started sending invites to all her neighbors. She wanted to buy some second-hand stuff, and setting up an online group in a residential community is a popular and convenient way to achieve that. Click here to read...

Police in Beijing punish individuals for illicit resales of Olympic mascots: Global Times
February 9, 2022

Local police in Beijing’s Dongcheng district announced on Tuesday that three individuals had been penalized for illicit sales of Beijing 2022 Bing Dwen Dwen mascots. Officials in Beijing said that Bing Dwen Dwen mascots have gone viral amid the ongoing Beijing Winter Olympic Games, but they found some resellers were charging excessively high prices, which disrupted the normal market order. Click here to read...

China vows to take powerful measures against US' latest arms sale to Taiwan island: Global Times
February 8, 2022

China on Tuesday vowed to take countermeasures after the US announced a plan to sell $100 million worth of Patriot missile upgrades to the island of Taiwan, which would be the first US arms sale to the island in 2022 and the second under the Biden administration. The arms sale, again leeching money from Taiwan, will not bring safety to "Taiwan independence" secessionists but instead push the island further toward catastrophe, said experts. Click here to read...

Bilibili establishes support group, increase new recruits over employee’s sudden death: Global Times
February 9, 2022

Bilibili, one of China's leading video-sharing platforms, said it has established a special group to support the family of the deceased employee, and the company pledged to increase recruitments to relieve the work load of its employees. The company is facing growing criticism over the death of an employee in Wuhan, central China's Hubei Province. The company earlier denied claims that excessive overtime led to the death. Click here to read...

Chinese market regulators summon iron ore information providers, to maintain price stability: Global Times
February 9, 2022

Chinese iron ore market information providers were summoned by the National Development and Reform Commission (NDRC) and State Administration for Market Regulation amid recent volatility seen in iron ore prices, and called for publishing accurate market information.

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China didn't buy any of $200 bil. U.S. exports pledged in deal: Kyodo
February 9, 2022

China did not purchase any of the extra $200 billion in U.S. exports pledged under a bilateral trade deal signed in 2020, an analysis by a U.S. research institute showed Tuesday, highlighting the failure of the agreement that was touted as "historic" by then U.S. President Donald Trump. Click here to read...

Chinese funding of sub-Saharan African infrastructure dwarfs that of West, says think tank: Reuters
February 9, 2022

China's development banks provided $23 billion in financing for infrastructure projects in sub-Saharan Africa from 2007 to 2020, more than double the amount lent by such banks in the United States, Germany, Japan and France combined, a new study showed. The Center for Global Development think tank said a review of 535 public-private infrastructure deals funded in the region in those years showed that China's investments dwarfed those of other governments and multilateral development banks. Click here to read...

Defense Ministry criticizes US arms sale to Taiwan: China Daily
February 9, 2022

The Chinese military resolutely opposes the United States approving a possible $100 million sale of equipment and services to Taiwan, a spokesman of the Ministry of National Defense said on Wednesday. The US Defense Security Cooperation Agency said on Monday that the US Congress had greenlit the deal following State Department's approval. The arms package aims to upgrade the island's Patriot air defense system and maintain its credible defensive capability, the agency said. Click here to read...

Is the deglobalisation writing on the wall? How China is reversing cultural openness with the West: South China Morning Post
February 9, 2022

In the last two months, staff at subway stations in the Chinese capital Beijing and the neighbouring city of Tianjin have been on a mission. Signs and route maps with English names at the stations have come down and been replaced with ones with pinyin, or romanised, transliterations of the Chinese characters. Instead of maps pointing out the stop for Tianjin Binhai International Airport, the directions are now to Binhai Guo Ji Ji Chang. Beijing Railway Station is now referred to as Beijing Zhan, and Olympic Park is Gaolinpike Gongyuan. Click here to read...

Shanghai company at heart of Beijing’s semiconductor self-sufficiency drive red-flagged by Washington: South China Morning Post
February 8, 2022

A prominent company at the heart of China’s semiconductor self-sufficiency drive has been red-flagged by the US, signalling that rivalry between the world’s two-largest economies over strategic technology is intensifying. Shanghai Microelectronics (SMEE), which is perhaps Beijing’s best current hope to produce machines that can manufacture advanced chips, was one of 33 Chinese entities added to an export watch list by the US Commerce Department on Monday, a move that could restrict the company’s imports of US technologies and products. Click here to read...

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