China: Daily Scan, September 28, 2021
Kota Mallikarjuna Gupta, Research Associate, VIF
China's State Council appoints, removes officials: Xinhuanet
September 27, 2021

The State Council, China's cabinet, announced the appointment and removal of officials Monday. Shao Xinyu was appointed vice minister of science and technology. Xu Nanping was removed from the post of vice minister of science and technology, and Liu Liehong no longer holds the position of vice minister of industry and information technology. Li Bo no longer serves as deputy governor of the People's Bank of China. Click here to read

China issues white paper on moderate prosperity: Xinhuanet
September 28, 2021

China's State Council Information Office Tuesday issued a white paper to document the country's journey to moderate prosperity in all respects, or Xiaokang. The white paper, titled "China's Epic Journey from Poverty to Prosperity," said the realization of moderate prosperity in all respects, as declared in July, marks a critical step towards national rejuvenation for the country. Click here to read

China's State Grid vows power supply to ensure people's basic needs: Xinhuanet
September 27, 2021

The State Grid Corporation of China on Monday said that it would take comprehensive measures to ensure power supply for people's basic needs and try its best to avoid power cuts. The company will go all out to fight the battle of guaranteeing power supply and firmly safeguard the bottom line of power supply to meet people's basic needs, and ensure social development and security, said the company. Click here to read

China punishes over 12,000 for frugality violations in August: Xinhuanet
September 28, 2021

China punished 12,387 people in August for violating the country's eight-point code on improving Party and government conduct, the top anti-graft body announced on its website on Monday. The punished were involved in 8,569 cases, according to the monthly statement by the Communist Party of China (CPC) Central Commission for Discipline Inspection and the National Supervisory Commission. Click here to read

China to establish coordination mechanism for integrating core socialist values into laws, regulations: People’s Daily
September 28, 2021

A guideline released by Chinese authorities called for the establishment of a coordination mechanism to integrate core socialist values into the development of the rule of law. The guideline was jointly released by the Publicity Department of the Communist Party of China (CPC) Central Committee, the Commission for Political and Legal Affairs of the CPC Central Committee, the General Office of the Standing Committee of the National People's Congress (NPC) and the Ministry of Justice. Click here to read

Leading internet hi-tech achievements unveiled in China: China Daily
September 27, 2021

A total of 14 world-leading internet scientific and technological achievements were unveiled Sunday in East China's Zhejiang province. The building and applications of the BeiDou Navigation Satellite System and the HarmonyOS, the operating system for the smartphones of Chinese telecom giant Huawei, were among the released items recommended by a panel composed of nearly 40 internet experts from home and abroad. Click here to read

China to speed up research into new strategic weapons for air force says J-20 chief designer: Global Times
September 27, 2021

Yang Wei, chief designer of China's J-20 stealth fighter jet, said that during the country's 14th Five-year Plan (2021-25), Aviation Industry Corporation of China (AVIC) will develop the capability of H-6 series bombers and will speed up research into new strategic weapons and equipment, to further strengthen long-range strategic strike capability for the People's Liberation Army (PLA) Air Force. Click here to read

Chinese chip firms temporarily halt production due to nationwide power curbs: Global Times
September 28, 2021

A number of chip enterprises in China have halted production temporarily, including suppliers of semiconductors for foreign companies, amid a severe nationwide power shortage due to soaring coal prices and policies to reduce energy consumption. CWTC, a semiconductor packaging material supplier for NXP and Infineon Technologies, released a notice on Sunday saying that its factory in Suzhou, Jiangsu had suspended semiconductor production from September 26 to 30, in accordance with the local policy on power reduction. Click here to read

China’s industrial profit growth slows due to high commodity prices, coronavirus, component shortages: South China Morning Post
September 28, 2021

Profits at China’s industrial firms grew at a weaker pace in August from a year earlier, slowing for a sixth consecutive month, as manufacturers struggled with high commodity prices, the coronavirus and shortages in some key components. Profits rose 10.1 per cent year on year to 680.3 billion yuan (US$105 billion) last month compared with a 16.4 per cent gain in July, data from China’s statistics bureau showed on Tuesday. Click here to read

China steps up anti-corruption drive as Evergrande crisis puts spotlight on financial risk: South China Morning Post
September 27, 2021

China’s top anti-corruption official will launch a nationwide audit of major financial firms and regulators to eliminate risk in the sector, following debt crises at state-owned financial conglomerate Huarong and private property developer China Evergrande. Zhao Leji, secretary of the Central Commission for Discipline Inspection, announced at a conference on Sunday “full-scale disciplinary inspections” to safeguard the healthy development of China’s financial sector. Click here to read

Energy rules hit iPhone makers: Taipei Times
September 28, 2021

iPhone assembly operations in China are beginning to reduce their energy consumption because of a sudden power crunch in the country, which has triggered government-imposed curbs on a range of businesses. Pegatron Corp, a key partner for Apple Inc and one of the assemblers of its iPhone, said yesterday that it’s taking energy-saving measures to comply with local government policies. Click here to read

PBOC promises to protect consumers as China Evergrande teeters: Reuters
September 28, 2021

China's central bank vowed to protect consumers exposed to the housing market on Monday and injected more cash into the banking system as the Shenzhen government began investigating the wealth management unit of ailing developer Evergrande, the clearest sign yet the authorities could move to contain contagion risks. Once the epitome of an era of helter-skelter borrowing and building in China, Evergrande has now become the poster child of a crackdown on developers' debts that has left investors large and small sweating their exposure. Click here to read

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