Authorities in China’s southern city of Guangzhou announced over 2,000 new COVID-19 infections on Nov. 8. Strict COVID measures have been implemented in the city of 19 million, a major manufacturing center. As the city tries to avoid a blanket lockdown like the one in Shanghai earlier this year, over 30,000 Guangzhou residents have been…
34,000 Residents Moved from Southern China City to Isolation Facilities
New York Crowned the Richest City in the World 2022; Hong Kong Drops out of Top 10
October 3, 2022
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AmericasAsia & PacificBusiness & MarketsChinadynamic zero-COVIDHK BusinessHong KongHong Kong droppingmillionairespersonal financeWorld
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American Consultation Firm Henley & Partners Group published its latest World’s Richest Cities Report on Sep 13. The report confirmed that New York, Tokyo, and San Francisco are the cities with the most millionaires. With Hong Kong dropping quickly from the 8th in 2021 to the 12th this year, it has become the most affected…
Fresh COVID Outbreaks in 31 Chinese Provinces Shatter Premier’s Hope to Revive Economy
Thirty-one provinces and municipalities in China were reported to be dealing with COVID-19 outbreaks, with some cities imposing tightened epidemic prevention and control measures. The new round of lockdowns is disrupting Premier Li Keqiang’s intention to rescue the economy, say several political analysts. According to Chinese official media, 31 of the country’s 34 provincial administrative…
Scholars Suggest Singapore’s New Work Visa will Attract High Income Talents in Preference to Hong Kong
The wave of mass migrations from Hong Kong continues, and the pandemic measures have also discouraged foreigners from coming to Hong Kong. Singapore, which has always been regarded as a competitor to Hong Kong, has recently launched a new work visa program to attract talents. Scholars commented that it “gave an extra punch” to Hong…
Lockdown Continues in Xinjiang and Tibet Amid Omicron Surge
The recent surge of Omicron infections in Xinjiang and Tibet since the beginning of August has prompted Chinese authorities to impose “zero-COVID” policies on several major cities in the area, with more locations being added to the lockdown list. On Aug. 10, Urumqi, the capital and the largest city of Xinjiang, was put under a…
China’s Mass Testing Brings Big Profits to Makers of Virus Test-Kits
China’s reliance on mass testing to achieve “zero-COVID” has brought huge profits to virus test-kit makers. A number of biotech companies have reported substantial profit growth for the first half of 2022. Among them, Tianjin City’s Jiu’an Medical Electronics Co., Ltd. posted a net profit of over 15.1 billion yuan ($2.24 billion), an increase of…
Chinese Leadership Dispute in the Spotlight as Premier Urges Provinces and Cities to Stabilize Their Economies
July 13, 2022
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News Analysis In a recent economics symposium, Chinese Premier Li Keqiang emphasized the need to stabilize the economy and revealed that China’s current economic situation is “very challenging.” But on June 29, Chinese Communist Party leader Xi Jinping reiterated the “zero-COVID” policy and called the policy important in affecting economic development and advancement. The clash…
With Large Number of COVID Testing Companies Springing Up in China, Illegal Operations Constantly Exposed
July 11, 2022
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A large number of newly registered PCR testing companies have sprung up in a short period of time in China due to the ruling Chinese Communist Party’s (CCP) enforcement of a strict zero-COVID policy that requires mass PCR testing on a regular basis. However, along with the surge, there have been increasing reports of companies…
Economic Effects of Foreign Companies Exiting China Can’t Be Ignored, Expert Says
Shanghai’s strict COVID lockdown has worsened China’s ability to attract foreign investors, a Chinese investment expert has said. Huang Feng, president of the Shanghai Association for Foreign Investment, told a video conference that the effect of the Shanghai lockdown has created the direst foreign investment situation that he has seen in 30 years. Shanghai, China’s…
Data Shows Small and Medium-Sized Enterprises in China on the Decline
May 26, 2022
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Small and medium-sized businesses in China have suffered dearly under the country’s dynamic zero-COVID policy amid an economic downturn. Since February 2022, China’s Small and Medium Enterprise Development Index (SMEDI) has declined for three consecutive months. “Nearly all customer flow, logistical flow, and cash flow [for small and medium-sized private businesses] have stranded,” Mr. Ma,…
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