China Business Now

With the resurgence of COVID-19 outbreaks across China since March weighing on the outlook for economic growth, China  called for more robust fiscal and monetary support and other measures to help affected businesses and stabilise economic operations. 

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A total of 75.42 million domestic trips were made over the Qingming Festival, down 26.2 percent year-on-year, or 68 percent of the 2019 level. More Chinese consumers are choosing to spend Qingming Festival in their local cities to get up close and personal with nature in spring as COVID-19 cases spiralled in the country.

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As the booming “She Economy” sweeps across the car industry, the past two years have seen an upward trend in the number of female drivers. In 2021, the number of licensed drivers in China jumped to 481 million, with female drivers accounting for 34 percent, statistics released by the Ministry of Public Security earlier this year showed. The number of female motorists is increasing rapidly by about 13 million each year, or at a pace of nearly 10 percent since 2017, much faster than that of males at merely 3.9 percent. The emergence of women drivers is reshaping the automotive industry. 

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The CSRC said China and US are both willing to solve audit dispute but wisdom is needed, after five more Chinese firms face delisting risk.

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China will make the most of government bonds to expand effective investment, enhance development momentum and promote steady economic growth. Under the principle of keeping the macro leverage ratio generally stable, 3.65 trillion yuan of special-purpose bonds for local governments will be newly allocated for this year. In a bid to strengthen cross-cyclical adjustment, an advance quota worth 1.46 trillion yuan had been disbursed at the end of last year.

https://m.21jingji.com/article/20220331/herald/b69f86a4bf4d039f40ef2a76cce00fe4.html

China plans to increase its energy supply and further increase the share of non-fossil fuel in total energy consumption in 2022 by approving high-caliber coal mines with advanced production capacity, and promote construction of wind, solar, hydro and nuclear power projects.

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In 2022, small and micro-sized service enterprises and individual businesses that are located in the medium and high risk areas of the epidemic who rent property from centrally-administered state-owned enterprises (SOEs) will be exempted from rent for six months in the year, with rent in other areas reduced for three months, according to a circular issued on Monday by China's state-asset regulator - the State-owned Assets Supervision and Administration Commission (SASAC).

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Shanghai Stock Exchange opened normally on Monday, as China’s financial centre is under partial lockdown. A full lockdown will be imposed on Shanghai's Pudong and Puxi in turn for a new round of citywide nucleic acid testing from Monday morning, the city government announced on Sunday night, as daily new infection numbers have climbed since the city's worst outbreak started early this month.

https://m.21jingji.com/article/20220328/herald/fd9b7bfdf89d4bbd048231eef0f61faf.html

China held a second space lecture for audiences worldwide on March 23. Taikonauts Zhai Zhigang, Wang Yaping and Ye Guangfu conducted several experiments from China's space station "Tiangong," including the crystallization of sodium acetate.

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Hydrogen stocks jump as China sets out a plan to make more of the fuel from renewables. The plan, issued by China's top economic planner, sets a clear path for hydrogen's role in the country's acceleration toward green development and independence of energy supply. The plan defines hydrogen energy as a key strategic emerging industry and a new growth point for building and upgrading a green, low-carbon industrial system.

https://m.21jingji.com/article/20220324/herald/88c1e0d7a086a3cfdd55c1f7e3e00f27.html