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Chinas central bank vows to keep monetary policy consistent

(Xinhua)10:06, December 30, 2020

BEIJING, Dec. 29 (Xinhua) — China will implement a prudent monetary policy that is flexible, precise, reasonable and moderate, and keep it consistent, stable and sustainable, the central bank said.

In a statement released after a quarterly meeting of its monetary policy committee held Friday, the Peoples Bank of China (PBOC), the central bank, said that it will pay attention to the ideal timing, extent and impact of policies and maintain the necessary support for economic recovery.

The PBOC will use a variety of monetary tools to ensure liquidity at a reasonable and ample level and keep the growth of money supply and social financing basically in line with nominal economic growth and maintain a basically stable macro leverage ratio, according to the statement.

It also vowed further monetary support for the real economy, stressing more financial aid for small and micro firms as well as those involved in technological innovation and green development.

The central bank pledged to promote high-level two-way financial opening and improve its management and risk control capabilities.

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China to further cut crude steel output for carbon neutrality goal

(Xinhua)10:48, December 30, 2020

BEIJING, Dec. 29 (Xinhua) — China will resolutely cut the output of crude steel and ensure it falls year on year in 2021, a senior official said on Tuesday.

Efforts will be made to promote low-carbon industrial development and green manufacturing next year, said Minister of Industry and Information Technology Xiao Yaqing at a work conference.

China previously announced that it will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

In recent years, China has taken solid steps to cut overcapacity, particularly in the energy-consuming steel sector.

During the 13th Five-Year Plan period (2016-2020), China met its target of reducing steel output by 150 million tonnes ahead of schedule. Energy consumption per unit of industrial output by Chinas designated large enterprises also saw a remarkable drop, according to the conference.

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China to stabilize, optimize industrial and supply chains in 2021 MIIT

(Xinhua)10:53, December 30, 2020

BEIJING, Dec. 29 (Xinhua) — China will pool its strength to stabilize and optimize the industrial and supply chains next year, according to the Ministry of Industry and Information Technology (MIIT).

More efforts will be made to monitor and evaluate the safety of key industrial and supply chains, strengthen the supply chains in the manufacturing industry and tackle weak links, said Xiao Yaqing, minister of the MIIT at a working conference held from Monday to Tuesday in Beijing.

He called for achieving breakthroughs in core technologies, speeding up the digital transformation of the manufacturing sector and enhancing the flexibility and resilience of the industrial and supply chains.

The country will make efforts to build more independent and controllable industrial and supply chains, as the security and stability of these chains is the foundation of forming a new development paradigm, according to the meeting.

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E-commerce brings Salvadoran coffee, Chinese consumers closer amid pandemic

(Xinhua)11:10, December 30, 2020

SAN SALVADOR, Dec. 29 (Xinhua) — At Christmas time, coffee pickers at El Salvadors mountaintop coffee plantations are busy filling baskets with the bright red berries used to produce the Central American countrys famed gourmet brew.

This Decembers harvest is of particular significance, for it could prompt the first online sales of gourmet coffee to Chinese consumers, as part of an e-commerce strategy he promoted throughout the year, said coffee consultant and businessman Hugo Hernandez.

During the COVID-19 lockdown, Hernandez worked to connect Salvadoran producers with Chinese e-commerce companies to scale up trade between the two markets.

This totally historical and atypical time has allowed us to reinvent ourselves and to learn more, Hernandez told Xinhua. Surely, without the pandemic, many of us would have continued in the traditional way. Now we see that things are being made easier.

His idea is to make the most of Salvadoran coffee in China and the countrys booming online retail sales. As of June this year, the number of Chinese consumers online reached 749 million, or 79.7 percent of the countrys total internet users, according to a report by the China Internet Network Information Center.

During the Singles Day in November, the Chinese version of Black Friday, Alibabas e-commerce platform Tmall registered as many as 583,000 orders in a single second, according to the company.

China is developing this world-renowned technology that is making life easier for countries in the way we do business, in logistics, in the entire issue of payments, in the issue of export, and in, of course, the two-way information, Hernandez said.

Coffee is El Salvadors star agricultural product, with more than 24,000 producers of the beans, most of them small coffee growers with plots of up to 7.5 hectares.

While the Central American country might be eclipsed by others with larger production volumes, such as Colombia or Brazil, it specializes in premium coffee and has won over consumers on continents, said Hernandez.

Salvadoran producers now seek to attract young Chinese consumers, especially urbanites in Shanghai or Beijing who has gotten accustomed to online shopping via their smartphones.

The young are very dynamic, very active, using social networks, using technology, which is where we want to participate to promote coffee, Hernandez said.

Salvadoran coffee exports to the Chinese market increased since the two countries established diplomatic relations in August 2018, raising Chinas ranking to one of its important destination markets for the aromatic bean.

Armando Fontan, manager of the family-owned business Les Fontan, located on mountains of the Ataco town in western El Salvador, believed it is now the right time to seek Chinese online buyers.

We are presented with opportunities that are just around the corner, which 10 or 15 years ago did not exist, Fontan told Xinhua.

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Major direct investments by China will contribute to South African Economic Development report

By WangLei (Peoples Daily Online)13:11, December 30, 2020

Major direct investments by China are welcomed and will contribute to the economic development of South Africa, according to a report jointly released by Longyuan South Africa Renewables and South African think tank Price Metrics (Pty) Ltd.

The report, Foreign Direct Investment in South Africa by Chinese and Other Investors, outlines and analyses the level, structure and trends in Chinese direct and other investments in South Africa from 2001 to 2019, as well as reviews implications of the current level and structure of foreign investment in South Africa, including major opportunities and risks for Chinese investors.

According to the report, most foreign investment in South Africa is portfolio investment in its debt and equity markets reflecting the country鈥檚 sophisticated, large, liquid, and well-regulated financial markets.

The report listed several advantages for Chinese investors to invest in South Africa, such as its status as Africa鈥檚 second largest economy (after Nigeria), the most diversified economy on the continent, its abundant natural resources, and particularly its mineral wealth and large presence of multinational companies, many of whom view South Africa as their headquarters in Africa.

The risks come along with some challenges.

Institutional changes, constraints on electricity supply for energy intensive businesses, relatively high costs of labor and inflexible labor market regulations, restrictive Black Economic Empowerment regulations affecting procurement of locally made products and services, a general low economic growth environment in the next few years, as well as the rand exchange rate are some risks for Chinese investors.

The report concluded that Chinese investment in South Africa is under-represented and provides many opportunities for investors.

The report is part of Research on Risks and Issues of Chinese State-owned Companies under the South African Investment Environment, conducted by Longyuan SA Renewables, a subsidiary of China Energy and China Longyuan, and PriceMetrics, who are also working on Research on Broadening Corporate Brand Influence and Better Fulfilling Corporate Social Responsibility.

Both researches are expected to be completed before April 2021. The reports will guide Chinese investors in SA to better invest in SA, as well as better fulfill their social responsibility in SA.

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Names, information of WWII germ warfare unit disclosed

(Xinhua)11:21, September 04, 2020

HARBIN, Sept. 4 (Xinhua) — The names of 468 members of OKA 9420, a Japanese germ warfare unit during World War II, have been disclosed by a Chinese museum.

OKA 9420 is known to be a branch of the notorious Unit 731, a covert biological and chemical warfare research and development operation during WWII. OKA 9420 took part in Japanese germ warfare in southwest Chinas Yunnan Province in 1942.

The list of names, which also includes the unit members dates of birth, nationalities, close relatives and army service records, was obtained from the Ibaraki branch of the National Diet Library, Japan.

The disclosure of the list has academic and historical value for drawing a complete picture of OKA 9420, especially its size, structure, organization, membership, and the commission and location of its major crimes, said Jin Chengmin, curator of the Museum of Evidence of War Crimes by the Japanese Army Unit 731.

Unit 731 was a top-secret biological and chemical warfare research base established in Harbin as the nerve center of Japanese biological warfare in China and Southeast Asia during WWII.

At least 3,000 people were used for human experimentation by Unit 731 and more than 300,000 people in China were killed by Japans biological weapons.

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WHO roots for equitable access to COVID-19 vaccine in Africa

(Xinhua)12:31, September 04, 2020

NAIROBI, Sept. 3 (Xinhua) — The World Health Organization (WHO) said on Thursday that donors and industry should allocate sufficient resources to ensure that African countries have access to a safe and efficacious COVID-19 vaccine.

Richard Mihigo, Program Area Manager of Immunization and Vaccine Development of WHO, said the needs and aspirations of African countries should be at the heart of the ongoing global efforts to develop vaccines against the pandemic.

Africa has often ended up at the back seat of vaccine development but this must not happen as the fight against COVID-19 pandemic enters a critical phase, Mihigo said during a virtual briefing in Nairobi.

We must secure enough doses and give priority to the frontline health workers, the aged and people with underlying conditions in the continent, he added.

The WHO official said that all the 54 African countries have signed up to COVAX, an initiative fronted by WHO in conjunction with the Vaccine Alliance (GAVI) and the Coalition for Epidemic Preparedness Innovations (CEPI) that aims to secure about 220 million doses of COVID-19 vaccine for the continent.

Mitoha Ondo O Ayekaba, vice minister for Health and Social Welfare, Equatorial Guinea, said that COVAX provides innovative financing options to ensure the COVID-19 vaccine is readily available in Africa.

We believe that through this initiative we can access successfully tested vaccines in a timely manner and at a lower cost, said Ayekeba.

He said that Equatorial Guinea is among eight African countries that have agreed to self-finance their COVID-19 doses under the COVAX Facility.

Richard Hatchett, CEO of CEPI, said that two COVID-19 candidates, supported by COVAX initiative, are already undergoing clinical trials in South Africa, to help ascertain their efficacy and safety.

Testing vaccines on the continent ensures that sufficient data is generated on the safety and efficacy of the most promising vaccine candidates for the African population so they can be confidently rolled out in Africa once vaccines are approved, said Hatchett.

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Digital economy injects impetus to LatAms trade, services

(Xinhua)12:37, September 04, 2020

SANTIAGO, Sept. 3 (Xinhua) — While COVID-19 keeps causing economic fallout worldwide, digital technologies and services supported by the cooperation between China and Latin America have been creeping into the daily life of the people and providing momentum to economic growth in the region.

During the COVID-19 pandemic, the DiDi Delivery service has helped a number of small- and medium-sized enterprises that run bricks-and-mortar stores, which were forced to shut down due to local lockdown measures, to meet their urgent needs to resume operation.

DiDi Delivery has not only helped me finish all my orders, but also largely shortened the delivery time from several days to within 24 hours, said Andrea Wilkendorf, a Chilean entrepreneur who created Pez Madera.

The rapid delivery has promoted the brands reputation and greatly increased our sales, she noted, adding that the service is now a must for her business.

Since this year, from contact-free infrared thermal imaging devices to COVID-19 diagnostic techniques assisted by artificial intelligence, from telecommuting to online courses and even faster online transactions, digital technologies and services have supported Latin Americas economy to grow.

Because of the pandemic, traditional trade and people-to-people exchanges have been blocked. People were forced to choose online communication and transactions, said Zhou Mi, deputy director of the Institute of American and Oceanian Study at the Chinese Academy of International Trade and Economic Cooperation.

There are always some opportunities in a crisis, Zhou stressed, saying digital economy is becoming a highly potential field for service trade between the two sides.

Thanks to the internet plus services upgrade between China and Latin America, small enterprise owners in Chile managed to keep her business.

In Latin America, the epidemic has caused a surge in demand for online medical inquiries, telecommuting and online education, putting great pressure on the networks of all countries, noted Wu Xiaoliang, vice president of Public and Government Affairs Department of Chinese tech giant Huawei.

Facing this situation, Huawei and local operators in Latin America responded actively to ensure the normal operation of the current network, Wu said.

In the eyes of Zhou, China and Latin America have a promising future for bilateral cooperation in the field of e-commerce, with increasing support in such fields as communications, logistics, big data and cloud computing.

While geographical distance is a key constraint to the development of economic and trade cooperation between China and Latin America, service trade, which eliminates the problems caused by long distance, serves as a good way to promote bilateral economic and trade cooperation, Zhou said.

Brazil is the top market among the 200-plus sales countries and regions worldwide of AliExpress, an international online shopping platform under Chinese e-commerce giant Alibaba. However, its business was hit hard when the pandemic broke out at the beginning of the year, when the capacity of international logistics was largely reduced and the exchange rate adversely affected.

To solve the problem, AliExpress has launched new services in Brazil including charter flights and centralized transportation, allowing cross-store orders to be shipped altogether and orders over 30 U.S. dollars enjoying free shipping.

According to data compiled by AliExpress, the centralized transportation service has become the second most popular logistics service in Brazil within six months. And as the Chinese online retail service further lowered in August the threshold of free shipping to 15 dollars, the volume of centralized transportation rose by another 50 percent.

Zhou said that cross-border e-commerce has not only enabled Latin Americans to enjoy made-in-China products online, but also allowed high-quality Latin American agri-products into Chinese homes, bringing benefits to both sides.

China and Latin America have also deepened cooperation in public health this year with the help of new technologies.

During the pandemic, Huawei joined hands with Chinas Huazhong University of Science and Technology and Lanwon technology to develop an auxiliary diagnosis and treatment system for COVID-19. The system, which integrates cloud computing and artificial intelligence technologies, was then deployed in many hospitals in Latin American countries such as Ecuador, Mexico, Colombia, Chile, Panama and so on.

The worldwide spread of the pandemic has hit the traditional trade and services hard. But in emerging service industries, especially knowledge-intensive services which are digitally-deliverable, growth has been achieved to a certain extent amid depression, said Li Jun, director of the Institute of International Trade in Service at the Chinese Academy of International Trade and Economic Cooperation.

Many enterprises and business associations from Latin America will show up in the China International Fair for Trade in Services, scheduled for Sept. 4-9 in Beijing.

Looking ahead, Zhou believed that while some countries choose beggar-thy-neighbor polices to protect their own interests, China and Latin America will firmly support free trade because it will help both sides achieve better development and survive the crisis.

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Arab League chief says Arab regions collective work important to reduce COVID-19 impacts

(Xinhua)12:40, September 04, 2020

CAIRO, Sept. 3 (Xinhua) — Arab League (AL) Secretary-General Ahmed Aboul-Gheit on Thursday stressed the importance of the Arab regions collective work for alleviating the burdens of COVID-19.

The unprecedented pandemic crisis with its severe impacts especially on the fragile societies urges the acceleration of the Arab social and economic centralized work, Aboul-Gheit said in a video conference of the Arab Social and Economic Council at the ministerial level.

The virus repercussions have been doubled in the countries that have already suffered from dangerous crises, he said, noting that the spread of COVID-19 happened while the Arab region is passing through exceptional conditions at the political level.

The crisis necessitates many countries to review economic policies for enhancing the medicine and food security, he added, noting that the Arab region still suffers a food gap which requires a solution under a joint Arab work frame.

A report of the Arab Monetary Fund in August expected that the GDP in the Arab countries is likely to shrink by 4 percent in 2020 while the Arab economies are expected to revive in 2021 by 2.6 percent.

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Australians increasingly worried about COVID-19 as total cases surpass 26,000

(Xinhua)12:41, September 04, 2020

CANBERRA, Sept. 3 (Xinhua) — Australians are growing increasingly concerned about the coronavirus pandemic, a survey has found.

Australian National University (ANU) researchers on Thursday published a poll of over 3,000 Australians taken during the height of Victorias second wave of COVID-19 infections in August.

It found that 62.6 percent of Australians felt anxious or worried about the pandemic compared to 57.3 percent during the first wave of infections in May.

Young Australians also continue to have the highest rates of anxiety and worry in terms of age groups, Nicholas Biddle, the co-author of the study, said in a media release.

Worry and anxiety among Australians aged 25-34 years increased from 63.4 percent in May to 69.2 percent in August.

The survey was published as Australia surpassed 26,000 cases of COVID-19 on Thursday.

As of Thursday afternoon there had been 26,049 confirmed cases of COVID-19 in Australia, and the number of new cases in last 24 hours is 127.

The death toll has increased by 15 to 678. All 15 deaths were in Victoria, the hardest-hit state by the COVID-19 pandemic in the country. Six occurred between Wednesday and Thursday, with the remaining nine having occurred earlier.

14 of todays 15 deaths are linked to known outbreaks in aged care facilities. To date, 591 people have died from coronavirus in Victoria, said a statement from the Department of Health and Human Services in Victoria on Thursday.

Of the new cases, Victoria confirmed 113, its most in four days. New South Wales confirmed 12 more cases and Queensland another two.

Earlier on Thursday, Treasurer Josh Frydenberg welcomed the Victorian governments plan to reveal a roadmap on Sunday to easing restrictions, saying that the state needs hope.