China Daily Digest February 16, 2022
Kota Mallikarjuna Gupta, Research Associate, VIF
China to step up support for industrial and services sectors in special difficulty: Xinhuanet
February 15, 2022

China will boost the steady growth of the industrial economy and support the services sectors in special difficulty, according to a decision made at the State Council's Executive Meeting chaired by Premier Li Keqiang on Monday. Click here to read...

China's police chief urges further crackdown on cross-border gambling: Xinhuanet
February 15, 2022

Chinese State Councilor and Minister of Public Security Zhao Kezhi on Tuesday urged more efforts to further crack down on cross-border gambling and its hotbeds. Calling for high pressure on such issues to be maintained, Zhao said at a meeting that subordinate networks of big foreign gambling groups inside China must be eliminated. Click here to read...

China urges U.S. to lift asset freeze, unilateral sanctions on Afghanistan: Xinhuanet
February 15, 2022

The United States seized Afghan assets without the consent of the Afghan people, which is tantamount to robbery, a Chinese foreign ministry spokesperson said Tuesday, urging the U.S. to lift the freeze. Spokesperson Wang Wenbin made the remarks at a press briefing when asked to comment on the executive order signed by U.S. President Joe Biden regarding the 7 billion U.S. dollar frozen assets of the Central Bank of Afghanistan. Click here to read...

Chinese premier stresses gathering wisdom to improve gov't work: China Daily
February 16, 2022

Premier Li Keqiang on Monday urged efforts to "gather wisdom from all sides" to improve the government's work, and specified measures to bolster China's industrial economy and service sectors. Click here to read...

China's top legislature prepares lawmakers for upcoming annual session: China Daily
February 16, 2022

The General Office of the National People's Congress (NPC) Standing Committee, China's top legislature, convened a meeting on Tuesday to brief some national lawmakers on the work of the NPC Standing Committee and prepare for the annual legislative session due to open on March 5. Click here to read...

New tool tests for virus traces in air: China Daily
February 16, 2022

The race to track the spread of COVID-19 has prompted Chinese scientists to develop a system aimed at detecting traces of the novel coronavirus in the air. The new technology made its debut during the ongoing 2022 Beijing Winter Olympic Games as part of measures to curb the disease's spread. Click here to read...

Chinese tech company develops AI coach to help athlete win at Beijing 2022: Global Times
February 15, 2022

A Chinese tech company has developed an artificial intelligence (AI) backed referee and coach system that not only helped train domestic athletes, one of whom won a gold medal during the Beijing 2022 Winter Olympic Games, but also participated in judging more than 40 test events at the Games. Click here to read...

Chinese research team finds vast lithium deposit in Qiongjiagang region of Mount Qomolangma: Global Times
February 15, 2022

A Chinese scientific investigation and research team has discovered a vast lithium deposit in the Qiongjiagang region of Mount Qomolangma, according to a report by China Science Daily. The lithium deposit might hopefully become the third largest after the Bailong Mountain site, in Northwest China's Xinjiang Uygur Autonomous Region, and the Jiajika lithium deposit, in Southwest China's Sichuan Province. It could also become the first pegmatite lithium deposit with industrial value in the Mount Qomolangma area, the report said. Click here to read...

China enticing local firms, MAC warns: TaipeiTimes
February 14, 2022

Beijing is looking to “domesticize” Taiwanese businesses in China by treating them as equal to local firms, a Mainland Affairs Council report found, while warning that attracting semiconductor talent would become the main focus of Beijing’s economic enticement policy. Click here to read...

China courts freeze $157 mln of Evergrande assets over missed construction payments: Reuters
February 16, 2022

A Chinese court has ordered the freezing of 640.4 million yuan ($101 million) in assets held by a subsidiary of China Evergrande Group (3333.HK), according to a filing by contractor Shanghai Construction Group. Click here to read...

China to work with Asian nations to grow use of local currencies in trade: Reuters
February 16, 2022

China will work with Asian countries to beef up use of local currencies in trade and investment, Yi Gang, the governor of the central bank, said on Wednesday, as part of plans to strengthen regional economic resilience. Click here to read...

China’s local governments, hit by property market slowdown, court foreign investment to steady growth: South China Morning Post
February 15, 2022

Competition is heating up between local governments in China to lure foreign investment in advanced technology, amid growing pressure on the economy and competition with the United States. In recent weeks, a number of local authorities have released investment plans worth billions of dollars and rolled out a host of incentives in a bid to steady growth.
Though many are seeking to upgrade technological capabilities, there is continued emphasis on infrastructure investment, with targets for fixed asset investment growth generally ranging between 6 to 10 per cent for the year. Click here to read...

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