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Search resuls for: "The State Council"


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☆ China to hold weekly COVID control press briefing on Tuesday
  + stars: | 2022-11-29 | by ( ) www.reuters.com   time to read: +1 min
BEIJING, Nov 29 (Reuters) - China will hold a press conference on COVID prevention and control measures at 3 p.m. (0700 GMT) on Tuesday amid record COVID infections and protests in Shanghai and Beijing. The Joint Prevention and Control Mechanism of the State Council will invite experts of the National Health Commission and the Center for Disease Control and Prevention to introduce the implementation of COVID prevention and control measures to effectively hand the epidemic, the government said. The joint prevention body typically holds a press briefing once a week. China on Tuesday reported a decline in new COVID-19 infections for Nov. 28, posting 38,645 cases, after a record daily high of 40,347 cases on the previous day. read moreThe country has been roiled by weekend protests in Shanghai and Beijing, after crowds there and in other Chinese cities demonstrated against China's stringent zero-COVID measures.
☆ ‘White paper’ protests: China’s top stationery supplier says it’s still selling A4 sheets
  + stars: | 2022-11-29 | by ( Laura He | ) edition.cnn.com   time to read: +4 min
Hong Kong CNN Business —The rare protests that spread across China over the weekend often featured demonstrators holding pieces of blank white paper, a phenomenon that has caused problems for the country’s top stationery chain. A4 refers to a standard paper size commonly used in countries outside of the United States and Canada. After M&G issued its filing, some social media users said they weren’t able to order A4 white paper sheets from the company’s online stores. Following the stock exchange filing, shares in M&G Stationery clawed back some losses, but were still down 1% at Monday’s close. ‘White paper’ protestsThe protests were triggered by a deadly fire last Thursday in Urumqi, the capital of the far western region of Xinjiang.
☆ China’s ‘white paper’ protests cause headaches for country’s top stationery supplier
  + stars: | 2022-11-29 | by ( Laura He | ) edition.cnn.com   time to read: +5 min
Hong Kong CNN Business —The rare protests that spread across China over the weekend often featured demonstrators holding pieces of blank white paper, a phenomenon that has caused problems for the country’s top stationery chain. M&G Stationery is based in Shanghai and sells its products in over 50 countries and regions around the world, according to the company’s website. After M&G issued its filing, some social media users said they weren’t able to order A4 white paper sheets from the company’s online stores. Following the stock exchange filing, shares in M&G Stationery clawed back some losses, but was still down 1% by Monday’s close. ‘White paper’ protestsThe protests were triggered by a deadly fire last Thursday in Urumqi, the capital of the far western region of Xinjiang.
☆ China will use timely RRR cuts to keep liquidity ample -state media cites cabinet
  + stars: | 2022-11-23 | by ( Reuters Staff | ) www.reuters.com   time to read: +4 min
BEIJING (Reuters) -China will use timely cuts in banks’ reserve requirement ratio (RRR), alongside other monetary policy tools, to keep liquidity reasonably ample, state media on Wednesday quoted a cabinet meeting as saying. Chinese Yuan banknotes are seen in this illustration taken February 10, 2020. The cabinet will send officials to provinces this month to check the implementation of policy measures that have been rolled out this year, state media said. The cabinet also called for speeding up investment and construction of major infrastructure projects, and called for stabilising and expanding consumption and vowed to support sound development of the platform economy, state media said. Deputy PBOC governor Pan Gongsheng said the bank would provide 200 billion yuan ($27.93 billion) in loans to six commercial banks for housing completions, state media Economic Daily said on Monday.
☆ Exclusive: China set to fine Ant Group over $1 billion, signalling revamp nears end-sources
  + stars: | 2022-11-22 | by ( Julie Zhu | ) www.reuters.com   time to read: +5 min
The central bank has been in informal communication with Ant about the fine over the past few months, said three of the sources. It plans to hold more discussions with other regulators about Ant's revamp later this year and announce the fine as soon as the second quarter of next year, said a source. Ant's fine would be the largest regulatory penalty imposed on a Chinese internet company since ride-hailing major Didi Global was fined $1.2 billion by China's cybersecurity regulator in July. The fintech firm's affiliate, e-commerce titan Alibaba Group (9988.HK), last year received a record fine of 18 billion yuan ($2.51 billion) for antitrust violations. The PBOC, however, is unlikely to formally disclose the application till Ant wraps up its revamp, added the sources.
☆ China amends rules for management of insurance bailout funds
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: +1 min
BEIJING, Nov 10 (Reuters) - China has amended rules for the management of state-run bailout funds rescuing troubled insurers, its financial regulators said on Thursday. The rules aim to promote healthy development of the insurance industry, prevent and resolve financial risks and maintain financial stability, the China Banking and Insurance Regulatory Commission said in a statement on its website. The company operates bailout funds that provide money to rescue policyholders and liquidate troubled insurers. Shareholders and management should also cooperate with authorities in the process of liquidating an insurance company with the support of the funds, the rules said. The new rules also adapt the cap of money that insurance companies should hand on to supplement the funds.
☆ China is preparing a plan to lift COVID flight suspensions - Bloomberg News
  + stars: | 2022-11-04 | by ( ) www.reuters.com   time to read: +1 min
Nov 4 (Reuters) - China is working on a plan to end a system that banned individual flights for bringing in passengers infected with the COVID-19 virus, Bloomberg News reported on Friday, citing people familiar with the matter. However, Chinese foreign ministry spokesman Zhao Lijian said on Friday that he was not aware of the media report. China's COVID policies are consistent and clear, Zhao told reporters at a daily briefing in Beijing. Airlines earlier faced a ban if their flights brought in COVID-infected people into China. Reporting by Kanjyik Ghosh in Bengaluru Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.
☆ Xi Jinping just became unassailable. Here’s why investors are running scared
  + stars: | 2022-10-26 | by ( Laura He | ) edition.cnn.com   time to read: +8 min
Xi’s preference for personal loyalty over technocratic competence bodes ill for China’s already bleak economic outlook, analysts said. “In effect, Xi Jinping establishes an echo chamber around his own ideas,” she said. People watch the opening session of the 20th Chinese Communist Party Congress in Huaibei, in China's eastern Anhui province. Li Qiang, the party boss of Shanghai who presided over the city’s chaotic two-month lockdown, is now the second-highest ranking party official after Xi. The NDRC is China’s top economic planner, responsible for drafting the country’s economic plans and overseeing major state investment projects.
☆ China's Xi Jinping set for third term at Communist Party Congress
  + stars: | 2022-10-18 | by ( Jennifer Jett | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Smith-Circle-Byline-Template.Jpg | ) www.nbcnews.com   time to read: +11 min
But the theme of the event is continuity — of President Xi Jinping as leader, and with that the likelihood of friction with the U.S.-led West. Xi, China’s most powerful leader in decades, is poised to secure an unprecedented third term at this week’s twice-a-decade National Congress of the Chinese Communist Party in Beijing. “Those achievements have certainly strengthened the president’s leadership.”Under Xi, China’s gross domestic product has more than doubled to $17.7 trillion. Born in Beijing in 1953, Xi enjoyed a privileged youth as the second son of Xi Zhongxun, a Chinese communist revolutionary. “The long-term goals of President Xi, as well as general attitudes in the West, will make it very difficult for us to have more cooperation during his third term,” she said.
☆ China's top leaders are set for a reshuffle. Here are the names to watch
  + stars: | 2022-10-10 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +8 min
China's top leadership team around President Xi Jinping is set to change this month at a twice-a-decade congress. One of the most closely watched changes in the political reshuffle is the future of Premier Li Keqiang, who turned 67 this year. However, he could remain a standing committee member, JPMorgan analysts said, pointing to a precedent at the 15th party congress. Huang Kunming — Politburo member and head of China's propaganda department, who worked closely with Xi in the provinces of Fujian and Zhejiang, the report said. Yang Jiechi, a 72-year-old Politburo member and director of the party's central committee foreign affairs office, is widely expected to retire.
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