China Press Review – March 17, 2020

Press review

Coronavirus: China pessimistic over global powers’ efforts to save world economy amid distrust
Beijing adviser says we ‘may not see’ a global coordinated effort to fight the economic impact of the coronavirus any time soon     China has been sidelined as G7 powers discuss the need to work more closely, with mistrust among major powers set to hamper recovery effort

Coronavirus: global recession fears triggered by failure to contain Covid-19 spread
Wall Street suffered its biggest drop since the 1987 crash on Monday, with the S&P 500 down almost 30 per cent from its historic peak in mid-February       Experts agree large-scale coordinated global government spending measures are needed to support the global economy

Coronavirus: Fallout from global pandemic clouds Hong Kong’s economic recovery, Kurt Tong says
City’s open economy, already reeling from months of pro-democracy protests, is considered particularly vulnerable to external shocks like a global health crisis   Executives and analysts, speaking on Monday, say they don’t expect the US to significantly reduce the 25 per cent tariffs on US$250 billion in Chinese goods

Coronavirus: China’s income inequality could expand in 2020 as outbreak rattles world’s No 2 economy
Income inequality in China could expand in 2020 as the impact of the coronavirus outbreak ripples through the economy    Poor Chinese are likely to be disproportionately hit, both in terms of lost earnings and their ability to withstand risk, a new survey shows

24 Hours in Post-Lockdown Shanghai
Businesses have reopened. Traffic chokes the streets. But for many families, the COVID-19 crisis feels far from over.

Over 90% of the major industrial enterprises in China, except for certain areas including Hubei, have already resumed work and production thanks to region-specific restoration measures
 Meng Wei, a spokeswoman with the National Development and Reform Commission, told to media that clusters such as “Zhejiang, Jiangsu, Shanghai, Shandong, Guangxi, and Chongqing almost saw nearly 100% of their enterprises back on production”. Moreover, nearly all major foreign firms in provincial regions, have resumed production, said Li Xingqian, director of the foreign trade department under the Ministry of Commerce, on March 13.  A good news for supply chain too. The Chinese government and local companies are stepping up efforts to stabilize the global supply chain despite the impact brought by the novel coronavirus epidemic. Recently central authorities policies aimed at facilitating foreign trade are paying off as Chinese foreign trade companies speed up the recovery of their business operations.

E-commerce platform Pinduoduo launches enterprise collaboration tool Knock amid coronavirus work-from-home boost
Knock’s features include instant messaging, document sharing and conference calls    It was previously used by Pinduoduo employees internally, but the e-commerce company said it opened it up so partners can communicate with its staff

Startups in the time of the virus: Lessons from China
While things start to go back to normal in China, the virus crisis continues to unfold across the globe. Silicon Valley is shutting down as local governments order people to stay in their homes. Small and medium startups are likely going to be slammed seriously, both by quarantine and the resulting economic downturn. But startups can learn from their peers in China to combat new challenges.

3 Reasons Foreign Investors Should Stick with China amid the Coronavirus
The coronavirus (COVID-19) recently added to reasons why many foreign investors began considering relocating parts of their China operations to get ahead of supply chain disruptions.
Southeast Asian (ASEAN) countries like Vietnam, Thailand, and Malaysia have been the main beneficiaries of this trend, owing to their low costs and growing manufacturing sectors. Companies such as Apple, Microsoft, and Google are among those who that have accelerated efforts to restructure production away from China towards ASEAN since the outbreak.

How China’s military took a frontline role in the coronavirus crisis
Chinese President Xi Jinping, who gave army medical teams the heaviest responsibilities, says virus is now ‘basically curbed’ thanks to their efforts     PLA’s Academy of Military Medical Sciences personnel have decades of experience including tackling Sars, Ebola, and the earthquake that shattered Sichuan in 2008

Between the trade war and coronavirus, US-China relations are becoming more toxic
During the Sars outbreak and after the Sichuan earthquake, US administrations reached out to China. During the Covid-19 crisis, however, the two countries have been playing the blame game as hawks push for economic decoupling

Coronavirus: Hong Kong to quarantine all arrivals from abroad
Chief Executive Carrie Lam said the majority of Hong Kong’s cases had been imported
Hong Kong will quarantine all people arriving from abroad for 14 days, its leader Carrie Lam has said.

Unconfirmed cases may be behind rapid spread of coronavirus in China, researchers say
Study estimates that 86 per cent of infections went undiagnosed in the two weeks before Wuhan was locked down    Those people, who probably didn’t have severe symptoms, thought to have infected 79 per cent of documented cases

People with blood type A may be more vulnerable to coronavirus, China study finds
Research in Wuhan and Shenzhen indicates patients with the blood group had higher rate of infection and tended to get more severe symptoms   Those with type O ‘had a significantly lower risk for the infectious disease’ compared to others

Coronavirus: will a mandatory lockdown be in the US’ future?
Governors and mayors across the country, looking at a growing outbreak, close schools, shut restaurants, while urging people to stay home   The voluntary approach may be less effective, but analysts note that coercive measures go against the values of a free society

Testing, testing, testing: Chinese doctors advise on how to contain the coronavirus pandemic
Leading medical staff sent to Wuhan say testing, prevention and control can halt the contagion’s spread   World Health Organisation chief delivers similar message from Geneva

Europe’s Doctors Repeat Errors Made in Wuhan, China Medics Say
Lack of knowledge, supplies put health workers in danger    Center of epidemic has shifted to Europe as China cases drop

Coronavirus: US starts clinical trial of Covid-19 vaccine that will last into next year
The trial is taking place at a medical facility in Seattle, whose metropolitan area has seen 20 per cent of the total US cases   The entire clinical trial process could take up to 14 months, the National Institutes of Health says

As the coronavirus tears through financial markets, Chinese real estate bonds are holding the fort
While sales are falling and the rise in home prices slowing across Chinese cities, real estate debt remains resilient on the back of decisive government action to contain the spread of the coronavirus and policy support for developers

Without China’s Fashion Weeks, What Are Chinese Designers’ Plans This Season?
While China Fashion Week has been put on hold indefinitely, the Shanghai Fashion Week Organizing Committee announced it will host a cloud show from March 24 to 30 with the e-tailer conglomerate, Tmall. While it’s yet to be seen whether the digital show will achieve the same effect as the offline event, as the only Chinese fashion week to go ahead this season Shanghai’s decisive decision illustrates not only the committee’s nimble response, but a clear commitment to Chinese fashion.

Jack Ma is donating medical supplies to US, Europe, Africa
Alibaba founder Jack Ma posted on his freshly minted Twitter account on Monday that he is donating through his charity foundation testing kits and masks to countries afflicted by Covid-19 including the US, all of Africa, Italy, and Spain.

Change Your Chopstick Habits To Curb COVID-19, Cities Say
Local authorities are urging diners to stop dipping their utensils into communal dishes during the pandemic.

Donald Trump’s reference to ‘Chinese virus’ smeared our country, says Beijing
Foreign ministry expresses ‘strong anger’ over US President’s comments about Covid-19 outbreak   Coronavirus outbreak has caused a further deterioration in relations between the two countries as they point the finger at each other

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