China press review
IMF Trims View on Growth Rebound as ‘Dangerous Divergence’ Seen: The International Monetary Fund expressed concern the global economic recovery has lost momentum and become increasingly divided, even as it stuck by its prediction for a robust rebound from the Covid-19 recession.
China presses US to cancel tariffs in test of bilateral engagement: China said on Saturday it pressed the United States to eliminate tariffs in talks between the countries’ top trade officials that Washington saw as a test of bilateral engagement between the world’s biggest economies.
China’s Sept services activity returns to growth: Caixin PMI: Activity in China’s services sector returned to growth in September as a major Covid-19 outbreak in the eastern province of Jiangsu receded, a private-sector survey showed on Friday, offering some support to a slowing economy.
Changing China: How Xi’s ‘common prosperity’ may impact the world: China says its policies aimed at narrowing the widening wealth gap are precisely what it needs in this moment of its economic trajectory – but critics say it comes with even greater control of how business and society will be governed.
European companies in Hong Kong considering moving staff elsewhere because of zero-Covid restrictions, chamber says: Strict quarantine rules have led many businesses to consider restructuring at least part of their operations to places such as Singapore, says chairman of European Chamber of Commerce.
China’s consumption story steadily evolving: China’s consumption story is evolving. Rising incomes still matter, but the primary feature of the next decade may very well be the impact of sweeping demographic and social change that is coinciding with the rapid march of technology.
“996” is Ruled Illegal: Understanding China’s Changing Labor System: China’s top court has ruled that the controversial “996” overtime work policy (working 9am to 9pm, 6 days a week) is illegal, taking aim at the excessive working hours commonly practiced at Chinese Internet companies.
China’s shipping-container costs hit all-time highs, and shortage will further push up prices in coming months: Prices of shipping containers have more than doubled in the past year, and container freight rates are up 351 per cent year on year, according to Drewry maritime consultancy.