China: Daily Scan, October 8, 2021

China achieves remarkable results in pollution control, says white paper: Xinhuanet
October 8, 2021

Through an increasing effort to combat pollution, China has achieved remarkable results in pollution control, according to a white paper released Friday by the State Council Information Office. Having announced a battle against pollution, the country has improved the quality of air, water and soil, said the white paper titled "Biodiversity Conservation in China." Click here to read... [2]

Chinese ambassador shares seven buzzwords to showcase fast-changing China: Xinhuanet
October 7, 2021

Chinese Ambassador to the United States Qin Gang on Wednesday shared with Americans seven buzzwords that are currently popular in China to illustrate what is going on in his country. "The buzzwords I shared with you today reflect the changing and unchanging elements in our values when China experiences rapid economic growth and profound social transformation," said Qin in his keynote speech at the online Forum on Tourism, Hospitality and Cultural Exchange co-hosted by the U.S.-Asia Institute and Las Vegas Sands Corp. Click here to read... [3]

Customs in Tibet gets tough against smuggling: Xinhuanet
October 8, 2021

The customs authority in southwest China's Tibet Autonomous Region has acted against smuggling activities with an iron hand in the first eight months of the year. From January to August, Lhasa customs cracked 13 smuggling cases involving a total value of 6.9 million yuan (about 1.1 million U.S. dollars), it said in a statement. Click here to read... [4]

New fund to spur Yangtze SOE reform: China Daily
October 8, 2021

China launched a 73.75 billion yuan fund in Wuxi, Jiangsu province, on Thursday to facilitate cutting-edge technology innovation and mixed-ownership reform at its State-owned enterprises in the Yangtze River Delta region, its operator said. The big-ticket fund aims to sharpen the core competitiveness of SOEs and spur high-quality development in the region. Click here to read... [5]

Chinese companies display latest technologies at Expo 2021 Dubai:
October 7, 2021

Chinese companies are showcasing their latest technologies at the China Pavilion of the ongoing Expo 2021 Dubai, as they plan to leverage the opportunity to expand their overseas reach. For instance, UBTech Robotics, a Shenzhen-based artificial intelligence and humanoid robotics company, is showcasing its Panda Robot and the Walker X, a large humanoid service robot. Click here to read... [6]

CUHK student union’s fate shows no room for campus troublemakers: Global Times
October 7, 2021

The student union of the Chinese University of Hong Kong (CUHK) announced its disbandment on Thursday, becoming another opposition-leaning university student union to dissolve following a series of recent events which saw some local universities cut ties with their problematic student unions. Click here to read... [7]

Hungary to build Europe's first 5G smart railway port together with Huawei: Global Times
October 7, 2021

Chinese telecommunications equipment giant Huawei on Wednesday signed a cooperation agreement with Hungary's East-West Intermodal Logistics and British telecommunications operator Vodafone, in a joint effort to build Europe's first smart railway hub managed by a 5G private network to be empowered by Huawei. The move, which comes as some other European countries are still weighing whether to use the firm's 5G technology due to oppositions from the US government, could enable Hungary to lead the way in 5G industrial solutions ahead of other hesitant countries, Chinese experts said. Click here to read... [8]

Bond defaults of China’s property developers surge as they face debt crisis: Global Times
October 7, 2021

A few Chinese property developers, including Evergrande Group, CFLD and Tahoe, are facing liquidity issues, according to data released by CRIC, a property research center on Wednesday. The data showed that as of September 27, the number of bond defaults by real estate enterprises in 2021 stood at 39, up 25 from 2020, for a cumulative amount of 46.75 billion yuan ($7.2 billion), an increase of 159 percent year-on-year. Click here to read... [9]

China power crisis forces ‘serious’ Beijing to order top coal producer to increase output: South China Morning Post
October 8, 2021

North China’s Inner Mongolia region, China’s second-largest coal producer, has told 72 mines to boost annual output capacity by nearly 100 million tonnes, said a government official and coal traders with direct knowledge of the matter. In an urgent notice dated Thursday, Inner Mongolia’s energy department asked the cities of Wuhai, Ordos and Hulunbuir, as well as Xilingol league, to immediately notify the miners they may operate at stipulated higher capacities straightaway, provided they ensure safe production. A league is an administrative unit of the autonomous region of Inner Mongolia. Click here to read... [10]

Chinese property bonds, shares slump as Evergrande angst spreads: Reuters
October 8, 2021

Bonds and shares issued by Chinese developers slumped on Friday as onshore markets returned from a week-long holiday with few clues as to how regulators propose to contain the contagion from cash-strapped China Evergrande Group's debt problems. Evergrande, whose shares remain suspended since it requested a trading halt on Monday pending a major transaction announcement, is facing one of the country's largest defaults as it wrestles with more than $300 billion of debt. Click here to read... [11]

Fall in China's $1.3 trln land sales to test local finances, economy: Reuters
October 8, 2021

Sagging demand at China's urban land auctions amid a crackdown on borrowing by private developers risks squeezing regional finances, pressuring local governments to scramble for other income sources to fund investments and support the economy. Land sales soared to a record 8.4 trillion yuan in 2020, the equivalent of Australia's annual gross domestic product, bolstering fiscal budgets in a pandemic year. Click here to read... [12]