Innholdsfortegnelse for Vol.63/No.14 i Beijing Review

The novel coronavirus disease (COVID-19) is now well under control in China, and even in worst-hit Hube iProvince, the lockdown is gradually lifting. However, this doesn’t mean the danger is over. The daily reports by the National Health Commission show that the number of imported infections is rising. Therefore prevention of imported cases is becoming a top priority in COVID-19 control across China. Economic development is the other focus. Even at the height of the disease in China, the government planned resumption of work in a phased, orderly and safe way. Now with the improvement in the domestic situation and lockdowns being lifted under tight monitoring, the work resumption plans have begun to be implemented. This year is critical for the long-term national vision as it is the deadline by…

On March 24, U.S. President Donald Trump asked for medical equipment and test kits in a 23-minute phone call with Moon Jae-in, President of the Republic of Korea (ROK). The call was said to be arranged after an urgent request by Trump. The U.S. president has repeatedly bragged about the U.S. preparedness for the novel coronavirus disease (COVID-19), but the surging confirmed cases and increasing death toll tell another story. In fact, a week ago on March 16, the U.S. received 50,000 test kits and 1 million masks from the Jack Ma Foundation, the philanthropic organization of Jack Ma, founder of e-commerce giant Alibaba. “All the best to our friends in America,” Ma wrote on Twitter. It was a recognition of the generous assistance many U.S. foundations and companies showed…

Each spring, when the cherry blossom season arrived, Ren Chao would be busy receiving tourists visiting the campus of Wuhan University in Hubei Province, central China. But this year, the 36-year-old’s work has changed dramatically. When the novel coronavirus disease (COVID-19) broke out in the city of Wuhan, he began to work on prevention and control on campus. Besides that, he also volunteered to transport medical workers to and from hospitals around the city as public transport came to a standstill. On March 17, a friend sent him a message asking if he would be interested in a different kind of volunteering and he signed up. He was to be a test subject for the first-phase clinical trials of a COVID-19 vaccine. Volunteers extraordinaire “In the past months, we, the…

The novel coronavirus outbreak has brought severe shocks to global supply and industrial chains. The longer the pandemic lasts, the bigger the impact will be. Some supply chains could possibly break down. Being the powerhouse of global manufacturing, the accelerating production resumption in China is conducive to the development of the global manufacturing industry. However, as the coronavirus spreads around the world, some manufacturing enterprises in the U.S. and Europe may well have to shut down, which will drag down the global economy in general. Some experts estimate that the 2020 global growth rate will be the lowest since the 2008 global financial crisis. Some sectors of the economy have been struck particularly hard by the outbreak, especially the travel, hospitality and transportation industries. Some airlines may not be able…

The novel coronavirus disease (COVID-19) pandemic keeping billions of people at home this spring has forced the global film industry into a winter. The 73rd Cannes Film Festival authorities hadn’t announced a new date for the postponed star-studded event by March 25, and there is a strong possibility that the pandemic is going to change the rules of the Oscars. According to the current ones, films have to be shown in cinemas for at least a week after their release to be nominated. But most theaters worldwide are now closed, disrupting new releases and production schedules. Disney’s animated film Mulan, scheduled to be released in the U.S. on March 27, was a much-awaited event for several reasons. It was anticipated to generate over $85 million of box-office revenue on its…

On my one-week field trip to Chengdu in Sichuan Province, southwest China, in November 2019, the city was bubbling with life, its dishes were tasty, and the business environment felt welcoming. I was most intrigued by the international railway system and the industrial parks I saw. These reinforced my thought that China’s dedication to grow is something other developing nations can emulate. I sensed a commitment from the central to the provincial and township authorities to push for all-round human and capital development of the nation through bilateral relations with the rest of the world. One area of my focus was the Center for China-Europe Cooperation (CCEC). Established on May 10, 2017 in the Chengdu Hi-Tech Industrial Development Zone, the CCEC is an initiative to boost China-Europe business and trade…

SHANGHAI’S NEW ACTING MAYOR Gong Zheng was appointed acting mayor of Shanghai on March 23. He succeeds Ying Yong, who was appointed secretary of the Communist Party of China’s Hubei Provincial Committee. The 60-year-old mayor, a Ph.D. in Economics from Xiamen University in south-east China, has over 20 years’ experience working with the General Administration of Customs. Before the leadership reshuffle, he was governor of Shandong Province in east China. During his office in Shandong, he encouraged enterprises to accelerate scientific and technological innovation and embrace opportunities brought by national strategies such as the Belt and Road Initiative to explore foreign markets. He also encouraged traditional industries to upgrade by adopting advanced technologies, including artificial intelligence and big data. Gong’s appointment was approved by the local legislature. A Shameful Strategy…

The National Development and Reform Commission (NDRC), along with 22 other central ministries and commissions, issued a guideline to promote domestic consumption in mid-March. Following the guideline, several local governments at various levels, from the district to the provincial, have issued their own instructions to bolster spending and consumption. “The pandemic has brought some impact on consumption, so expanding residents’ consumption, promoting consumption recovery and unleashing consumption potential are the key measures to offset the impact and stimulate the economy,” Ha Zengyou, Director of the Department of Employment and Income Distribution of the NDRC, said at a press conference of the Joint Prevention and Control Mechanism of the State Council, China’s cabinet, in Beijing on March 18. “Particularly under the new circumstance of the infections accelerating throughout the world, it…

The novel coronavirus disease (COVID-19) is now a truly global crisis, which has spread from public health to the economy and governance. With more than 460,000 infections reported globally as of March 26 and the fatalities rising, its impact in Europe has been particularly hard. Italy, Spain and Germany have been profoundly affected. Unprecedented measures have been implemented in parts of Germany, France and the UK. The U.S. too is starting to see widespread lockdowns. Most countries have sealed their borders to outsiders and ordered pubs, restaurants and cafes to close. Universities have moved their teaching online. Cases are occurring in Latin America and Africa. Global efforts The public health challenge has seen cooperation between health experts across the globe. Chinese doctors have helped those in Europe and elsewhere and…

Ren Zhiguo, a grain farmer who heads a rural cooperative in Zhenlai, a county in Jilin Province, northeast China, described how the novel coronavirus outbreak was giving him sleepless nights. It was time to plant rice but with transport hit by the pandemic, over 100 tons of seeds and fertilizer his cooperative needed hadn’t arrived. “Farming can’t wait,” Ren told China Youth Daily. He felt relieved when the local government announced that vehicles transporting agricultural materials will be given the green light in a guideline it issued on spring planting. The county’s agricultural material wholesale markets reopened on March 1. Dealers deliver the materials to local farmers after obtaining a permit from the local agriculture and rural affairs authorities, who ensure the health and safety guidelines are met. Learning the…

In two recent State Council executive meetings, keeping employment stable was noted as a priority amid efforts to promote economic and social development while ensuring prevention and control of the novel coronavirus pandemic. The travel restrictions and business disruptions have exerted a downward pressure on the economy. The latest data on industrial output, retail sales and investment shows across-the-board contraction in the first two months this year. A total of 1.08 million new urban jobs were created in the first two months. The surveyed urban unemployment rate in February stood at 6.2 percent, up 1 percentage point from January, the National Bureau of Statistics said on March 16. To cushion the impact and promote the overall stability of employment, China has outlined measures to support resumption of work, facilitate recruitment…

When German chemical giant BASF started its $10-billion petrochemical project in south China in November 2019, it made news as the smart Verbund project was the first large petrochemical project in China solely owned by foreign investors. The company came into the spotlight again recently, being one of the early birds among the foreign-funded enterprises in the country to resume work after a hiatus due to the novel coronavirus. According to Stephan Kothrade, President and Chairman of BASF Greater China, production resumed in early February after the extended Chinese New Year holiday ended. Strict health protection measures have been adopted in its offices and factories, and wherever possible, employees are being asked to work from home. Kothrade said the Chinese market remains appealing despite the difficulties. “China is now the…

($1=7 yuan) Mergers and Acquisitions Market February Top Five Sectors in Mergers and Acquisitions Cases February Top Five Sectors in Mergers and Acquisitions Value February Construction of major infrastructure projects is being sped up to mitigate the economic impact of the novel coronavirus disease. Except for the projects in Hubei Province in central China, work on 89.1 percent of 11,000 key projects had been restarted by March 20. Xinjiang Uygur Autonomous Region in northwest China recorded more than 20 billion yuan in imports and exports in the first two months this year. The local customs authority has issued several favorable measures to stabilize Xinjiang’s foreign trade, support the China-Europe freight train services and develop comprehensive bonded zones, platforms to develop an open economy. Crude steel output registered steady growth in…