China: Daily Scan, December 3, 2021
Kota Mallikarjuna Gupta, Research Associate, VIF
Top legislator stresses high-quality local legislation: Xinhuanet
December 3, 2021

China's top legislator Li Zhanshu on Thursday urged efforts to advance the high-quality development of local legislation. Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the Standing Committee of the National People's Congress, made the remarks when addressing a national symposium on local legislation in Beijing. Click here to read...

China's trust assets shrink in third quarter: Xinhuanet
December 2, 2021

China's trust industry maintained a shrinking trend in the third quarter (Q3) of this year, data shows. Total trust assets slid by 2 percent year on year to 20.44 trillion yuan (about 3.2 trillion U.S. dollars) as of the end of Q3 with the assets structure further improving, according to the China Trustee Association (CTA). Click here to read...

China extends tax exemption for overseas investors in bond market: Xinhuanet
December 2, 2021

China said Thursday it has extended tax preferential policies to overseas investors investing in the Chinese mainland bond market amid efforts to further open up the sector. Overseas institutional investors are exempted from corporate income tax and value-added tax on their bond interest gains from investment in the Chinese mainland bond market, according to an announcement by the Ministry of Finance and the State Administration of Taxation. Click here to read...

China to build smarter meteorological system in 5 years: Xinhuanet
December 2, 2021

China aims to improve its meteorological work in 2021-2025 through sci-tech innovation and information technology, according to a newly-released five-year plan. The plan, jointly issued by the China Meteorological Administration and the National Development and Reform Commission, noted that by 2025, China will achieve independent control of core meteorological technologies, and build an improved modern meteorological system to enhance monitoring and forecasting capabilities. Click here to read...

Chinese mainland reports 80 locally transmitted COVID-19 cases: Xinhuanet
December 3, 2021

The Chinese mainland on Thursday reported 80 new locally transmitted COVID-19 cases, the National Health Commission said in its daily report on Friday. Of the new local cases, 56 were reported in Inner Mongolia and 10 in Heilongjiang. Also reported were 16 new imported cases in five provincial-level regions, according to the commission. Click here to read...

Former deputy commander of Xinjiang Production and Construction Corps expelled from CPC: People’s Daily
December 3, 2021

Yang Fulin, former deputy commander of the Xinjiang Production and Construction Corps, has been expelled from the Communist Party of China (CPC) for grave violations of Party discipline and laws, authorities announced here Thursday. The announcement came after an investigation into Yang's case conducted by the CPC Central Commission for Discipline Inspection and the National Supervisory Commission upon the approval of the CPC Central Committee. Click here to read...

Former senior official of Henan expelled from CPC, public office: People’s Daily
December 3, 2021

A former senior official of central China's Henan Province has been expelled from the Communist Party of China (CPC) and removed from his post over serious violations of Party discipline and the law, the country's top anti-graft body announced Thursday. Click here to read...

Chinese vice premier stresses strengthening support for foreign enterprises: People’s Daily
December 3, 2021

Chinese Vice Premier Hu Chunhua has urged improved service and better business environment for foreign-funded firms to facilitate their investment and business in China. Hu made the remarks on Thursday when presiding over a symposium in Beijing on the development of foreign-invested enterprises. Click here to read...

China develops powerful new engine for drone flights in plateau regions: Global Times
December 2, 2021

China has successfully tested a new homegrown powerful turboprop engine especially designed for drones to be used in the country's southwest plateau regions, overcoming a technical barrier that limited the performance of unmanned aerial vehicles (UAV) at high altitudes, with analysts speculating on Thursday that it will boost the logistics support and monitoring capabilities of border defense troops. Click here to read...

Anti-virus export orders nearly double amid global Omicron scare: Global Times
December 2, 2021

Chinese suppliers of anti-coronavirus items including nucleic acid tests, masks and oxygen machines have seen export orders surge 25-200 percent amid new outbreaks in many parts of the world, ignited by growing concerns over Omicron variant. Several industry insiders told the Global Times on Thursday that there's been a significant increase in export orders, mostly from Europe and Africa, since Omicron was reported to the World Health Organization by South African health authorities on November 24.

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SPP recommends harsher punishment for wage default: China Daily
December 3, 2021

The Supreme People's Procuratorate has recommended harsh punishment for those who maliciously default on wages, a move to protect the legitimate rights and interests of migrant workers. It said procuratorates nationwide recovered more than 340 million yuan ($53.4 million) in unpaid wages for migrant workers from 2019 to 2020. Click here to read...

Understanding China requires understanding of CPC, says Xi: Quishi
December 3, 2021

Chinese President Xi Jinping said on Thursday that to understand China today, one must learn to understand the Communist Party of China (CPC). Xi made the remarks when delivering a speech via video at the opening ceremony of the 2021 Understanding China Conference (Guangzhou) in Guangzhou, south China's Guangdong Province. Click here to read...

Didi starts to delist from New York and aims for Hong Kong amid Beijing scrutiny: South China Morning Post
December 3, 2021

Chinese ride-hailing giant Didi Global, which raised US$4.4 billion in its US initial public offering in June, said Friday that it would start the process to delist from the New York Stock Exchange and prepare for a Hong Kong listing, five months after the Cyberspace Administration of China (CAC) initiated probe into the company. Click here to read...

China antenna turns Earth into giant radio station, with signals reaching Guam: South China Morning Post
December 2, 2021

The biggest antenna on the planet is up and running in central China, opening up long-distance communications with submarines as well as civilian applications, according to engineers and scientists involved in the project. The exact location of the facility has not been revealed, but is believed to be somewhere in the Dabie Mountains, a protected natural reserve straddling Hubei, Anhui and Henan provinces.Click here to read...

China regulator says more testing needed to certify C919 aircraft: Reuters
December 3, 2021

China's aviation regulator said on Friday that there is still a huge amount of testing to be done for the home-grown narrowbody C919 aircraft to be certified, raising doubt over planemaker COMAC's year-end target. So far, the C919, China's attempt to rival Airbus SE (AIR.PA) and Boeing Co(BA.N), has completed only 34 certification tests out of 276 planned, Yang Zhenmei, a Civil Aviation Administration of China (CAAC) official, told reporters. Click here to read...

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