Economic directions in 2023
On 15 December, the yearly Central Working economical Conference with the participation of the highest organization authorities, government and economical advisors was held. This meeting, which summarizes the year and sets out the tasks and directions of economical and social improvement for the next year. As assessed, the Chinese economy dealt with external adversity and interior challenges in 2022.
However, the foundations of economical recovery are not yet unchangeable and the country is inactive facing 3 pressures: shrinking demand, supply shocks and weak expectations. On the another hand, as highlighted during the conference, it shows strong resistance, large possible and solid vitality. In terms of tasks and directions for next year, among others, it was accepted that:
- an active financial policy is to be pursued;
- scientific and technological policy will focus on self-reliance and self-improvement;
- Whereas it is essential to focus on stabilising growth, employment, prices and maintaining economical improvement to a reasonable extent;
- Whereas it is essential to guarantee that reforms are deepened and to stimulate marketplace vitality and social creativity;
- market rights request to be respected, administrative improvement and the delegation of power to lower levels, and companies should be treated equally for all types of ownership;
- there should be a focus on real economy improvement and reliance on innovation;
- The transformation of conventional industries will be further promoted;
- the prevention and control of financial risks, especially local debt, should be strengthened.
In order to accomplish these tasks, among others, it is essential to:
- concentration and stimulation of the improvement of the interior market;
- speeding up the construction of a modern industrial system;
- increasing efforts to attract and make greater usage of abroad capital;
- better prevention and resolution of major economical and financial risks.
The most crucial goal next year will undoubtedly be to bring the country's economy to a fresh phase of improvement in a hard (internal and external) period.
Source:
It's getting deeper
At CSSC HuangPu WenChong Shipbuilding Co., Ltd. (中船黄埔文冲船舶有限公司) shipyard in GuangZhou (Kanton / 广州) the latest seabed investigation vessel was launched. It's a breakthrough for ships of this kind. It will be able to drill the seabed to a depth of 10,000 metres. This will let for a more accurate location of gas, oil and another fossil resources. On board a fresh investigation vessel, 9 laboratories will be equipped with world-class investigation equipment covering all fields of marine research.
The ship will be commissioned in 2024.
Source:
Home Visit
The recently elected first secretary of the KPCh committee of the state of Zhejiang (chin. 浙江) made an unannounced visit to the office of Alibaba Group Holdings Limited (阿里巴巴集团控股有限公司) in HangZhou (chin. 杭州). Here are the investigation and improvement departments of the group, which deal with the improvement of technologies based on artificial intelligence, as well as innovative e-commerce platforms, fintech, etc. In his brief statement, the secretary stressed that capital should grow healthy, in accordance with the rules, while being an inspiring origin in innovation and expanding competitiveness, peculiarly internationally. This requires fresh format business leaders.
The visit of ZhJiang provincial committee secretary was read as a signal that Alibaba had already come out of the "purity" of the regulations and restructuring required by the financial marketplace control authorities, which lasted for almost 2 years.
Source:
English? Weak...
Based on the results of the online tests conducted among the adult population by the global company Education First EF, China was found to be 62nd in 2022 to 111 countries surveyed in English. investigation has been conducted in countries where English is not an authoritative language. China ranked 8 in Asia.
The average score of Chinese adults is 498 points, meaning low language knowledge. The global average was 502 points.
Among Chinese cities, the highest score of course reached Hong Kong – 31st place in the planet and 561 points. It was followed by adults from Shanghai and Beijing (by 549 points), then HangZhou (535), TianJin (528), TaiWan (516).
Over 500 points were besides awarded: Canton, NanJing, ChangSha, WuHan and Zhejiang Province. In Asia, Singapore achieved the best score (642 points) and ranked second globally after the Netherlands (The Netherlands).
Poland ranked 13 (600 points) worldwide and 11 in Europe.
Source:
Digital RMB and Alibaba
AliPay (chin. 支付宝), a mobile payment application owned by Ant Group (蚂蚁集团哥鲁普公司), a subsidiary of Alibaba Holding Co., Ltd. (阿里巴巴控股有限公司) was the first to receive approval in China to usage and operate transactions in the digital RMB. And it already seemed that after 2 years of restrictions, control from the financial supervision institutions could not do any good to the company founded by Jack Ma, who is now permanently in Japan.
Meanwhile, Alibaba is number 1 again.
Source:
- https://baijiahao.baidu.com/s?id=1752001136774761610&wfr=spider&for=pc
- https://www.cebnet.com.cn/20221213/102846855.html
New State Fund
Under the patronage of Shanghai authorities, ShangHai State-owned Capital Investment Fund (上海国资母基金) began operations. The share capital is RMB 20 billion (about PLN 12.33 billion), which will be gradually increased to RMB 50 billion (about PLN 31.56 billion). This fund consists of funds from the central bank of the city, individual districts of Shanghai and the largest state enterprises operating in Shanghai.
The capital collected in the fund will be utilized to implement the main national strategies and tasks of the city, optimise state assets, support the improvement of strategical industries and advance the high-quality improvement of state enterprises.
Source:
Savings
In fourteen cities of China, the savings of individuals deposited in banks and financial institutions exceed 1 trillion RMB (about PLN 635.24 billion). The most savings were made by the people of Beijing and Shanghai. In each of these cities, the full total savings of individuals exceeded 4 trillion RMB (about PLN 2,54 trillion). The 3rd place in this competition was GuangZhou (Kanton). The following places included ChongQing, ShenZhen, ChengDu, TianJin, HangZhou, SuZhou, XiAn, WuHan, ShenYang, NanJing and FoShan.
In uncertain times, the Chinese save more than usual. This is definitely not conducive to consumption.
Source:
- https://www.chinanews.com/cj/2022/12-14/914435.shtml
- http://www.news.cn/fortunate/2022-12/14/c_1129206444.htm
I hope only a maximum of 3 months
According to recognized expert Zhang Wen Hong (chin. 张文宏), the manager of HuangShan Hospital's infection branch at FuDan University in ShangHaiu (上海复旦大学附属华山医院感染科), the highest of the current, highly advanced wave of Covid virus infection – Omikron will happen within 1 to 3 months. This means that the situation will only begin to improve as early as March 2023. By then, wellness care, hospitals and medical personnel will be highly burdened, as more than 60% of the population of the country, or over 800 million people, will be likely to be infected by the virus at that time. Hospitals are already overcrowded and face the shortage of medical workers who are besides infected with the virus. This is the consequence of a abrupt departure from the "zero Covid" policy.
A large wave of infections is noted, among another things, in the largest cities specified as Beijing, Shanghai, GuangZhou and ChongQing, where the top mitigations have occurred. The residents do not leave their homes for fear of infection. The streets are deserted, only those who gotta go to work can be found on them. Pharmacy lacks antipyretics, antifungals, as well as disposable kits for fast atomic tests. There are first deaths.
Since the authorities have given up mass antigen testing, authoritative data have not given up the actual situation. Media and experts calm the residents, stressing that Omikron is much softer than the first coronavirus strain. They appeal to people with mild symptoms not to study to overloaded hospitals, and to heal at home (what?). The chief pandemic specialist Dr. Zhong NanShan late stated that Omicron resembles seasonal flu in terms of mortality and should be called “coronavirus cold”.
Authorities are speeding up the vaccination run with booster doses and the usage of a social distance. On settlements in Shanghai there are mobile vaccination points where residents can be vaccinated, especially those over 60 years old. Vaccinations become compulsory, although they are inactive not mandatory for Hong Kong, TaiWanu and foreigners.
Source:
She's already her own medicine.
Covid-19 tablets are already available on the market. It is produced by FoSun Pharma (复星医药). The price of Azvudine is 330 RMB (approx. 220 PLN) for 35 1 milligram tablets.
Source:
China-Africa: Another Gift
The construction of the fresh economical Community of West African States (ECOWAS) was started in Abuja, the capital of Nigeria. Until now, the offices of the organization were located in 3 different locations. shortly they will be in 1 complex built by Chinese companies. The construction area is 36,607 m2. The putting into service was scheduled before the end of 2024.
The complex in Abuja is China's second “gift” to global organisations on the African continent. The first 1 was built in 2012 at the expense of over USD 200 million (about PLN 895.65 million) the office of the African Union in Ethiopia's capital Addis Ababa.
Source:
Connecting East to East
In the online formula, talks were held between the national co-ordinators China – countries of Central and east Europe. From the Chinese side, they were led by Wang Yi 王毅, abroad Minister and associate of the Political Office of KPCH. He called for deeper cooperation, which will be more resistant to external conditions, coordinated, open and beneficial to all.
He stressed that China and the countries of Central and east Europe are natural partners who have deep historical ties, a request for cooperation and a desire for modernisation. According to Minister Wang, no substance how the global scenery changes, the parties should follow the consensus reached at the China-CEEC Summit in 2021. He made 4 proposals:
- the countries participating in this format should base their relations on solidarity and friendship, which are the most crucial determinants of Chinese policy towards Europe, in which cooperation is simply a primary objective;
- China-CEEC countries should search to make greater synergies, which can contribute to a more sustainable improvement of Europe;
- the members of the format should search to open themselves to a cooperation that is beneficial to all, with China beginning up to the world, will proceed to import products from the countries of Central and east Europe that are more competitive and treat companies from Central and east Europe in China as equal to Chinese companies;
- Cooperation should be pragmatic and beneficial to all parties – China is ready to take more fresh measures related to the import of more agricultural products and food, make cooperation in the field of e-commerce, finance, interconnection, facilitate inter-human and another areas with the countries of Central and east Europe.
Will the format go beyond declarations in 2023?
Source:
But above all, healthy, peaceful and unique Christmas and Happy fresh Year!
Thank you all readers regularly visit China24.com to learn more about China.
Andrzej Z. Liang 梁安基
Shanghai 上海, China 中国
Author: 梁安基 Andrzej Z. Liang, 上海 Shanghai, 中国 China
Email: [email protected]
Editorial: Leszek B.
Email: [email protected]
© China: Facts, Events, Opinions – www.chiny24.com
