Month: September 2020

(Xinhua)08:32, August 05, 2020

Foreign enterprises in Beijing are regaining confidence as the citys work and production resumption continue to accelerate amid further containment of COVID-19, while its economy has rebounded with strong resilience and vitality.

We highly appreciate the guidance and support we got from the Beijing government and municipal authorities … Thanks to the effective measures taken by China in fighting COVID-19, we are witnessing a strong recovery of its auto market, said Hubertus Troska with Daimler AG.

We are also fortunate to see a positive sales momentum for our Mercedes-Benz brand in China with a year-on-year growth of 21.6 percent in the second quarter, he said.

In the first six months of the year, Mercedes-Benz delivered more than 346,000 new cars to its customers in China, basically returning to the level of the same period last year, data from the German automaker showed.

According to the Ministry of Commerce, foreign direct investment (FDI) in the Chinese mainland, in actual use, grew by 8.4 percent year on year in the second quarter of this year, a significant rebound from the first quarter (down 10.8 percent), indicating foreign investors stabilizing expectations and confidence in Chinas economy. Besides, international enterprises, including Daimler, are seeking a stronger presence in China.

Im very confident in the long-term development of the Chinese auto industry and believe that the best times are yet to come, Troska said, adding that Beijing is still a highly attractive business location for international companies. Daimler is committed to further invest and strengthen its local footprint in research and development, and production and purchase, Troska added.

From January to May, a total of 495 new foreign-funded enterprises were set up in the service sector in Beijing, actually using 5.12 billion U.S. dollars in direct overseas capital, according to the municipal commerce bureau.

Universal Beijing Resort, a key project in Beijings Tongzhou District, has seen its construction progressing smoothly, and the main structure has been completed. The theme park is expected to open in the first half of next year.

We quickly resumed construction in the ever-changing epidemic circumstances under the ongoing guidance and support from related government authorities, said Tom Mehrmann, president of the resort.

Mehrmann said he has full confidence in the Chinese economy and the tourism industry, and the total demand for Chinese tourists is significant. Although the short-term impact seems inevitable, it will eventually lead to a dramatic rebound and growth, Mehrmann added.

Data from the Beijing municipal bureau of statistics showed that the citys regional gross domestic product (GDP) edged down 3.2 percent year on year to 1.62 trillion yuan (about 232 billion U.S. dollars) in the first half of this year. The decline narrowed by 3.4 percentage points compared with that of the first quarter, indicating steady economic recovery of the city.

Since the outbreak of COVID-19, the enterprises of Swiss tech giant ABB in Beijing have overcome multiple challenges with the help of the municipal government, which sent anti-epidemic materials to the local firms of ABB and helped their supporting enterprises resume production as soon as possible.

We have been committed to the long-term development in China, said Peter Voser, chairman of the board of directors at ABB Ltd. ABB will work together with our Chinese customers and partners to further develop the industrial and supply chains.

In order to promote the resumption of work and production of major foreign firms in Beijing and minimize the impact of the epidemic, the city has launched several commercial activities through the internet since May. The activities provided an online platform for local officials to met leaders of multinational companies. Besides, the overseas side could see real-time videos of production lines of foreign firms in Beijing, thus injecting confidence into their investment plans in China.

The municipal government not only solved the problems of foreign companies in the supply of spare parts and international logistics and transportation but also facilitated executives and their families to return to Beijing.

Last month, Beijing issued an action plan to implement new opening-up measures as part of efforts to open up at a higher level and optimize its business environment.

(Xinhua)08:39, August 05, 2020

BEIJING, Aug. 4 (Xinhua) — Chinese authorities are planning to officially include medicines used in the treatment of diseases related to novel coronavirus in the countrys regular medical insurance programs.

The National Healthcare Security Administration has published a draft work plan regarding adjustments to the list of medicines covered by the medical-insurance system, inviting the public to provide comments and opinions on the draft.

According to the draft, medications for respiratory diseases related to COVID-19 will be added to the list.

As of July 19, Chinas medical-insurance system had covered 1.23 billion yuan (about 176 million U.S. dollars) of the treatment costs of COVID-19 patients, dealing with 135,500 insurance settlements that involved both confirmed and suspected patients.

The adjustment to the list of medicines is expected to further support the containment of COVID-19 on a regular and long-term basis.

In addition to the COVID-19-related medicines, the draft plan also includes some other newly-approved medicines that are deemed to be in urgent clinical need and several new pediatric drugs.

China adjusts the list of medicines covered by the medical-insurance system on an annual basis.

(CGTN)09:08, July 29, 2020

Media registration for the China International Fair for Trade in Services (CIFTIS), a major platform for the services trade in the country, will be open from July 27 to August 20, according to the fairs media center.

The CIFTIS, which will be held in early September in Beijing, will feature summits, industry conferences, professional panel meetings, exhibitions, and product launches, according to a press conference in early June.

Considering the prevention and control of COVID-19, the 2020 CIFTIS is mainly inviting Chinese reporters and resident foreign journalists in China.

The CIFTIS this year has been prepared according to three plans with varying degrees of online and offline activities, depending on the global pandemic situation, according to Yan Ligang, head of the Beijing Municipal Commerce Bureau.

The event is expected to see 116 forums and business negotiations in different services trade sectors, with 30 international organizations, foreign embassies in China, and overseas business associations and organizations showing their intentions to stage exhibitions or meetings.

(Peoples Daily Online)10:11, July 31, 2020

The report card of Chinas economy in the first half of the year is not bad, said Justin Yifu Lin, Dean of the Institute of New Structural Economics at Peking University and Counselor of State Council, adding that the Chinese economy is able to cope with uncertainty.

Justin Yifu Lin gives an interview to Peoples Daily Online

It can be said that it is even better than we have originally expected. There is a special premise here, that is, the COVID-19 epidemic has had a great impact on the global economy, and the economies of most countries are in the doldrums, said Lin during a recent interview.

Lin noted that Chinas GDP fell 6.8 percent in the first quarter compared with the same period last year; however, Chinas GDP jumped by 3.2 percent in the second quarter of the year. It can be said that China is the only country in the world with such an achievement. In my opinion, it is not easy for us, he added.

Warning that the uncertainty of the external environment still exists, Lin shared that the continuous outbreak and repetition of the pandemic around the world will have a negative impact on economic growth. In addition, trade policies of the U.S. and other countries, along with the malicious crackdown on Chinas related industries, will also bring uncertainty to economic development.

As far as we are concerned, as long as we continue to do a good job in the prevention and control of the epidemic, make full use of the conditions conducive to economic growth, maintain our strength, and concentrate our efforts on doing our own things, I believe we can still become the main driving force for global economic growth, Lin pointed out.

Lin also believes that China still has broad room for growth, especially for technological innovation and industrial upgrading.

We are on the same starting line with developed countries in intelligent manufacturing, 5G, artificial intelligence and so on. China has a large domestic market, and after a breakthrough in technological innovation, we can achieve economies of scale, said Lin, believing that no matter how precarious the external environment is, China will still be able to skip over the waves.

(Xinhua)09:56, July 27, 2020

The Asian Infrastructure Investment Bank (AIIB) has officially moved into its new headquarters in the Beijing Olympic Park in Chaoyang district, Beijing. Made up of five office buildings, it will be the permanent office for the AIIB. Construction of the headquarters was completed in October 2019. Photo: cnsphotos

Chinese President Xi Jinping will deliver a speech Tuesday at the opening ceremony of the fifth annual meeting of the board of governors of the Asian Infrastructure Investment Bank (AIIB), Foreign Ministry spokesperson Hua Chunying announced on Monday.

The meeting will be held via video link, Hua said.