China Press Review – April 1, 2020

Press review

China’s accelerated resumption of production injects stability, confidence into world economy
The restart of the “World’s Factory” will not only help China put its economic and social development back on track, but also relieve pressure on the world economy and safeguard the common interests of the global community

Coronavirus: China should stop unrealistic planning and start rescuing the economy
Covid-19 has left China’s state planners scrambling to amend the delayed economic plan. Amid uncertainty about how long the pandemic will last, it makes more sense to work out a rescue plan than to set a unrealistic growth target

China preps new coronavirus stimulus measures, but some ask are they bold enough to work?
China’s State Council has authorised new bonds to fund infrastructure, additional subsidies and tax breaks for the car industry, and cheap loans for small businesses    Focusing on investment may ‘leave uncompleted projects’ and the government should concentrate on jobs and livelihoods, analysts say

Coronavirus: Asia’s manufacturing hubs face ‘tougher times ahead’, even after dreadful March
Manufacturing PMIs showed plunging confidence among Asia’s producers, with the exception of those in China and Taiwan    Eurozone slump also signals demand shock to come, with analysts warning things could get worse in the second quarter of 2020

China’s coronavirus-driven supply shock has eased, but it is bracing for a drop in demand
The domestic job market has softened and external demand from the US and UK is expected to slow down. More fiscal stimulus should be in the offing     Car sales may rebound as local governments launch policies to support the auto sector, but easing of curbs on the property sector looks unlikely

Meituan faces challenge from Alipay on its home turf
In 2010, after several failed projects that included Facebook-clone Xiaonei and the Twitter-like Fanfou, serial entrepreneur Wang Xing launched a new startup, Meituan. With his eyes set on e-commerce, Wang focused on online sales of services—a less saturated segment of e-commerce which avoided head-on competition with Alibaba, the undisputed e-commerce giant.

Taobao Live Rethinks The Future Of Stores
Taobao Live, Alibaba Group’s dedicated livestreaming channel, wants to help more physical retailers use its technologies to supercharge the shopping experience for consumers.   During an industry event held via livestreaming on Monday, Taobao Live announced plans to help more than 200,000 brick-and-mortar retail stores and 100 marketplaces, like the traditional wholesale markets in the Chinese city of Yiwu, make use of the platform this year.

Huawei Revenue Growth in 2019 Defies U.S. Sanctions
Chinese telecom giant Huawei’s revenues in 2019 climbed 19.1% to 858.8 billion yuan ($123 billion) with net profit of 62.7 billion yuan, the company said Tuesday in a statement.

Foxconn assures investors 5G iPhone can still launch this autumn
The world’s largest electronics contract manufacturer said it had lost time to disruptions caused by the coronavirus pandemic  Apple is already behind major rivals Samsung and Huawei, which started selling 5G smartphones last year

Carmaker BYD Profit Plunges in 2019
Chinese automaker BYD’s profit tumbled in 2019, in line with a nationwide market contraction that came as the market for gas-powered cars shrank and the government scaled back subsidies for new energy vehicles midway through the year.

Most Affected Industries By US-China Trade War
The tension between the U.S. and Chinese officials could end up hurting key industries in both economies. It could be a battle over who will control international trade, but it can easily boil over and become counterproductive. The sad thing is that no one really knows for sure if the tension will rage on or we still are going to witness more draconian tariffs. Only time will tell.

Coronavirus: Taiwan to boost stimulus package to US$35 billion, donate 10 million face masks
President Tsai Ing-wen says island will provide masks and other supplies to ‘our allies and countries hit hardest by Covid-19’    Second round of stimulus measures will take total spending to more than NT$1 trillion, she says

Nio is restructuring again in a quest for profits
Nio is losing the head of its electric power engineering division, the company confirmed on Wednesday, as it begins another round of consolidation and headcount trimming in an effort to live up to ambitious profitability goals laid out by its CEO last month.    Nio’s executive departures are speeding up again, signaling the start of another round of restructuring in bid to gain profitability.

China’s ports brace for second hit as virus spread wipes out exports
China’s ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country’s coronavirus lockdown as the global spread of the virus chokes off international demand.

Driverless and Humanless: The new Frontier of Logistics
Robots is that they can do the work that is too manual, repetitive and dangerous for humans

World needs China at the centre of supply chains more than ever
Disruption caused by the Covid-19 pandemic has prompted many multinationals and governments to think again about relying too much on one country in a global network

Huawei warns of retaliation for ‘slaughter’ after $12 billion miss
Huawei, the world’s largest maker of telecom equipment by revenue, released earnings for 2019, saying that it missed a target set internally by $12 billion due to a US trade ban. The company also warned of retaliation by the Chinese government.

Coronavirus crisis a chance for China ‘to refocus on food security’
Researcher says this is a time for the country to reverse course and get back to the land

How a Rugged COVID-19 Recovery Risks Over 100 Million Jobs
The pandemic has left much of China’s private sector on life support. Now that the threat of infection is finally receding, can the country jump start a recovery in time?

Coronavirus: China bans export of test kits, medical supplies by firms not licensed to sell them at home
After European buyers complain of being sold substandard products, Beijing says only companies approved by the National Medical Products Administration can ship their goods overseas     Previously, manufacturers needed only to have CE accreditation to be able to sell in Europe

Europe turned to China for coronavirus testing help. Why some are now regretting it
China said it’s working to rectify the problems. From Wednesday, exporters of coronavirus test kits, medical masks, protective clothing, ventilators and infrared thermometers must show they’re certified in China and promise their products also meet the quality standards of the importing nation or region, according to a Ministry of Commerce statement.

WHO’s success with China marginalises it in the West
The world has a post-Sars plan under the World Health Organisation to fight any pandemic, but sadly many countries just ignore it    Those same countries should have asked: would they have been in better shape now if they had heeded the WHO warnings and advice back in January?

Chinese province bars citizens from leaving the country to stop coronavirus spread
Authorities in Yunnan limit land and river ports to cargo traffic, locking down border communities  Province on alert for imported cases of Covid-19

Xi Jinping tells China to stay on guard over coronavirus as country seeks to restart economy
President’s mask-free appearance during visit to Zhejiang province is seen as an attempt to spread the message that things are getting back to normal   But concerns about imported and symptomless cases of Covid-19 continue to pose a threat to efforts to reboot the world’s second largest economy

China’s Asymptomatic Coronavirus Case Numbers Don’t Tell the Whole Story
China’s health authorities began regular updates Wednesday of national tallies for asymptomatic Covid-19 carriers amid pressure from the public and senior officials to disclose the information. Yet the numbers so far do not reveal the true scale of this category of individuals infected by the coronavirus.

Rare coronavirus patient’s mild symptoms but long illness may point to ‘chronic’ mutation: researchers
Potential ‘chronic patients’ may have prolonged ability to infect their surroundings, Chinese researchers warn  ‘The virus and the host may even form a symbiotic relationship,’ they say

Coronavirus: Worldwide genetics race to uncover who is most susceptible to Covid-19
Research efforts include looking at how easily coronavirus can enter cells and how the immune system responds   US blood type research consistent with Chinese findings on infection rates

Doctors on front line of China’s battle with coronavirus tell of race to respond to onset of new disease
One doctor in Wuhan describes the emotional toll of trying to care for Covid-19 patients and warns that the most serious cases are still struggling to make it  Medical staff had to learn on the job when treating the previously unknown disease, which may have cost some patients their lives

New Year Wuhan lockdown gave rest of China more time to prepare for coronavirus crisis: researchers
A combination of travel restrictions, public shutdowns and a national emergency response delayed the spread, says Science article   ‘This appears to be the largest attempted cordon sanitaire in human history’

Fosun leverages on pharmaceutical, biotech in race to tackle coronavirus as pandemic dents ClubMed, Cirque du Soleil units
Fosun plans to start clinical trials of its coronavirus vaccine called BNT162 from this month in race to find a cure   The group’s tourism and entertainment businesses are facing setbacks with shutdowns and lay-offs amid pandemic

Beijing’s coronavirus-era diplomacy ‘is outflanking America’s’, but some cite overreach
Both governments have underplayed the threat, whitewashed problems, blamed local officials and pointed fingers at each other  ‘Trump has had an appalling response to the crisis. In some ways, he’s even followed the Xi Jinping model in trying to put political controls on information’

Alain Gillard
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