China: Daily Scan, September 16, 2021
Kota Mallikarjuna Gupta, Research Associate, VIF
Complaints against China's banking sector rise in Q2: Xinhuanet
September 15, 2021

China Banking and Insurance Regulatory Commission and its local bureaus received a total of 84,424 cases of consumer complaints in the second quarter of this year, up 25.5 percent year on year. More than half of the complaints were related to credit card businesses. The number of cases involving credit card service increased 37.2 percent year on year to 46,273 in the second quarter, accounting for 54.8 percent of the total.
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China unveils 5-year plan to control plastic pollution: Xinhuanet
September 15, 2021

China on Wednesday unveiled a plan on controlling plastic pollution over the next five years, aiming to effectively curb white pollution by 2025. The action plan, jointly issued by the National Development and Reform Commission and the Ministry of Ecology and Environment, details measures to cut the production and use of plastics, develop alternatives for plastics, and substantially reduce the amount of plastic waste in landfills and environmental leakage during the 14th Five-Year Plan period (2021-2025).
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Chinese FM meets South Korean president, wraps up four-nation visit: People’s Daily
September 16, 2021

In the final stop of his four-nation Asia trip, Chinese State Councilor and Foreign Minister Wang Yi met with South Korean President Moon Jae-in on Wednesday, with both sides agreeing to boost ties, and Moon called on China to continue to play a constructive role in the Korean Peninsula issue.
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Stricter rules help stabilize home prices: People’s Daily
September 16, 2021

China's home prices increased in August but at a slower pace as regulatory measures continue to rein in and stabilize the disorderly market. So, major cities are expected to see limited room for growth in home prices, industry experts said. In August, home prices in 70 Chinese major cities either grew marginally or edged down, both in year-on-year and month-on-month terms, suggesting the long-term nature of tightening rules continues to have the desired effect at local levels, said Sheng Guoqing, chief statistician with the National Bureau of Statistics.
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China's first joint peacekeeping exercise concludes: China Daily
September 15, 2021

Multinational peacekeeping exercise, Shared Destiny 2021, concluded on Wednesday at a military training base in Henan province, according to the Chinese military's headquarters at the exercise. More than 1,000 troops from China, Mongolia, Pakistan and Thailand conducted a joint exercise on Wednesday morning at the People's Liberation Army Ground Force's Queshan Combined Tactical Training Base.
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Cyberspace regulator urges internet platforms to strengthen management of push systems, minor protection: Global Times
September 16, 2021

The Cyberspace Administration of China (CAC), the country’s top cyberspace regulator, issued a guideline on Wednesday urging internet platforms to strengthen the management of push news and protection for minors. The move represents the regulator’s ongoing effort to create a clean and healthy internet environment.
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Chinese diplomat warns Germany, EU against targeting businesses: Global Times
September 15, 2021

A senior Chinese diplomat on Wednesday issued a stern warning to Germany and the EU over their discriminatory actions against Chinese businesses, vowing that China will not "sit idle" regarding such actions and urging relevant parties in Europe to not take a condescending attitude toward China and behave like a teacher.
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Chinese mining firms told to stop work and leave Democratic Republic of Congo: South China Morning Post
September 16, 2021

China has ordered its companies that broke laws and environmental standards in the Democratic Republic of Congo to cease operating and leave the country – at a time when the African nation’s government is aiming to renegotiate “infrastructure for minerals” deals with Beijing. It came after South Kivu province suspended six Chinese firms’ operations over illegal mining and destruction of the environment. The companies had missed a deadline to register their activities with the Congolese authorities.
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Holders of HK vigil jailed: Taipei Times
September 16, 2021

Nine Hong Kong democracy advocates and former lawmakers yesterday were sentenced to prison terms of up to 10 months for their roles in last year’s banned candlelight vigil commemorating the 1989 Tiananmen Square Massacre. The nine are part of a group of 12 defendants who earlier this month pled guilty to participating in the vigil that was the only large-scale public commemoration on Chinese soil of the 1989 crackdown in Beijing on student-led protests.
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China Evergrande's liquidity crisis deepens, report flags interest payment miss: Reuters
September 15, 2021

China's major banks have been notified by the housing authority that Evergrande Group (3333.HK) won't be able to pay loan interest due Sept. 20, Bloomberg reported, underlining the broadening impact of the property developer's liquidity crisis. The troubles ailing the nation's no. 2 property developer have already sparked social anger among investors and homebuyers and raised risks for China's vast financial system.
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