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News from China
Chinese mainland reports 21 new COVID-19 cases
26th November 2020

 China's National Health Commission said on Thursday that it received reports of 21 newly confirmed COVID-19 cases on the Chinese mainland on Wednesday — nine locally transmitted cases and 12 imported ones.

 
The locally transmitted cases were reported in Inner Mongolia, the commission said in its daily report.
 
Of the new imported cases, five were reported in Shanghai, four in Guangdong, and one each in Jiangsu, Fujian and Sichuan.
 
Three new suspected cases related to the disease were reported on Wednesday, the commission said.
 
By the end of Wednesday, a total of 3,821 imported cases had been reported on the mainland. Among them, 3,543 had been discharged from hospitals after recovery, and 278 remained hospitalized. No deaths from the imported cases had been reported.
 
Also on Wednesday, 20 COVID-19 patients were discharged from hospitals after recovery on the Chinese mainland, the commission said.
 
As of Wednesday, the total number of confirmed COVID-19 cases on the Chinese mainland had reached 86,490, with 306 patients still under treatment, including seven in severe conditions.
 
Altogether 81,550 patients had been discharged after recovery, and 4,634 had died of the disease on the mainland, the commission said.
 
There were five suspected COVID-19 cases on the mainland, while 10,768 close contacts were still under medical observation after 925 were discharged Wednesday.
 
Wednesday saw five asymptomatic cases newly reported, including four arriving from outside the mainland. On the same day, four asymptomatic cases were re-categorized as confirmed cases.
 
A total of 321 asymptomatic cases were under medical observation, with 317 arriving from outside the mainland.
 
By the end of Wednesday, 5,866 confirmed COVID-19 cases, including 108 deaths, had been reported in the Hong Kong Special Administrative Region (SAR), 46 cases in the Macau SAR, and 623 cases, including seven deaths, in Taiwan.
 
A total of 5,295 COVID-19 patients in the Hong Kong SAR had been discharged from hospitals following recovery, 46 in the Macau SAR, and 553 in Taiwan.
Source: Shanghai Daily, November 26, 2020
China to promote higher-level opening-up for more win-win outcomes: Premier Li
25th November 2020

 Chinese Premier Li Keqiang on Tuesday said China will promote higher-standard opening-up, attract more foreign investment, and encourage more Chinese companies to go global, so as to achieve more win-win outcomes.

 
Li made the remarks at the fifth "1+6" Roundtable which was held via video link and attended by World Bank Group President David Malpass, International Monetary Fund Managing Director Kristalina Georgieva, World Trade Organization Deputy Director-General Alan Wolff, International Labor Organization Director-General Guy Ryder, Organization for Economic Cooperation and Development Secretary-General Angel Gurria and Financial Stability Board Chairman Randal Quarles.
 
Li pointed out that facing the severe shocks of COVID-19, China has coordinated epidemic containment and economic and social development and kept employment and the economic fundamentals stable. "The Chinese economy is set to achieve overall positive growth for the whole year, which is a hard-won achievement."
 
Li attributed the steady recovery of the Chinese economy to the series of policies China implemented to provide relief to market entities. He said by supporting market entities, China will be able to sustain employment, which in turn will generate income and spur consumption necessary for bolstering economic growth.
 
Li also attributed the steady recovery of the Chinese economy to parallel efforts to advance reform and opening-up, which energized market entities and unleashed the internal dynamism of the economy.
 
"In the face of the pandemic, the strong resilience displayed by the 100 million plus market entities in China and the Chinese people have provided the strongest underpinning of our economic fundamentals and the biggest source of confidence for China in meeting difficulties and challenges ahead," he said.
 
The steady recovery of the Chinese economy is also attributable to China's massive domestic market, Li said. "As a large economy, China's biggest strength is its enormous domestic market."
 
Li said China never goes after trade surplus, adding the country puts equal emphasis on import and export, and has been actively expanding the import of quality goods and services, with a view to better meeting the needs for industrial and consumption upgrade.
 
Li said in the 14th Five-Year Plan period, China will continue to innovate and improve macroeconomic regulation, ensure its policies are consistent, effective and sustainable, and accelerate the building of a world-class, market-based business environment governed by a sound legal framework.
 
China will promote higher-standard opening-up, strengthen intellectual property right protection, encourage fair competition among domestic and foreign businesses, attract more foreign investment, and encourage more Chinese companies to go global, so as to achieve more win-win outcomes, Li said.
 
Li highlighted the need for the international community to meet the challenges in solidarity and cooperation. He called on all parties to uphold multilateralism and free trade and facilitate the improvement of the international economic governance system.
 
China welcomes the conclusion and signing of the Regional Comprehensive Economic Partnership (RCEP) and will work with all parties in the spirit of partnership and join hands to build an open world economy.
 
Leaders of the six major international economic institutions spoke positively about China's notable achievements in fighting COVID-19. They pointed out that China, with its robust economic reopening and strong recovery, will be the only major economy to realize positive growth this year.
 
China's renewed growth will help underpin global recovery and boost global confidence in defeating the virus, they said.
 
The leaders made positive comments on China's active contribution to alleviating poverty, tackling climate change, and promoting trade and investment liberalization and facilitation.
 
In the face of COVID-19 and economic challenges, the leaders called on all countries to step up macroeconomic policy coordination and work together for global recovery in the post-COVID-19 era.
 
Committed to their ties and cooperation with China, the leaders expressed their readiness to work with China to deepen cooperation in finance, employment, poverty reduction and debt relief, jointly support multilateralism and promote development and prosperity of the world.
 
Premier Li met with the press with the leaders of the six major international economic institutions after the Roundtable.
 
China will strengthen cooperation with major international organizations in wider areas and greater depth, and support them in continuing to play their vital roles in the global governance system in a common endeavor to advance global development and promote the wellbeing of people across the world.
 
Li said China remains the biggest developing country in the world, and that development is still the foundation and key to solving all challenges facing the country.
 
The Chinese economy is deeply integrated into the world economy, Li said, adding while working to expand domestic demand, China will open up even wider and share its opportunities with the world.
Source: Shanghai Daily, November 25, 2020
Chinese mainland reports 22 new COVID-19 cases, including 2 domestic ones
24th November 2020

 China's National Health Commission said on Tuesday that it received reports of 22 newly confirmed COVID-19 cases on the Chinese mainland on Monday, including two domestically transmitted cases and 20 imported ones.

 
The domestically transmitted cases were reported in Tianjin and Shanghai, the commission said in its daily report.
 
Shanghai also reported one suspected case that was from overseas. No deaths related to the disease were reported on Monday, the commission said.
 
The new imported cases were reported in Fujian, Guangdong, Shanghai, Sichuan, Jiangsu, Shaanxi, Inner Mongolia and Henan.
 
By the end of Monday, a total of 3,804 imported cases had been reported on the mainland. Among them, 3,501 had been discharged from hospitals after recovery, and 303 remained hospitalized. No deaths from the imported cases had been reported.
 
Also on Monday, 15 COVID-19 patients were discharged from hospitals after recovery on the Chinese mainland, the commission said.
 
As of Monday, the total number of confirmed COVID-19 cases on the Chinese mainland had reached 86,464, with 322 patients still under treatment, including six in severe condition.
 
Altogether 81,508 patients had been discharged after recovery, and 4,634 had died of the disease on the mainland, the commission said.
 
There was one suspected COVID-19 case on the mainland, while 11,857 close contacts were still under medical observation after 189 were discharged Monday, according to the commission.
Source: Shanghai Daily, November 24, 2020
Chinese financial institutions criticized for excessive loan fees to small businesses
23rd November 2020

 Several Chinese banking, insurance and credit institutions have been criticized for charging excessive fees on loans to small and micro businesses, involving a total of nearly 100 million yuan (US$15.24 million) in violations, said the country's banking and insurance regulator Saturday.

 
Targeted inspections by the General Office of the State Council and China Banking and Insurance Regulatory Commission (CBIRC) found that some branches of Industrial and Commercial Bank of China and China Minsheng Bank had charged fees that should have been abolished for loan issuance to small and micro businesses.
 
An inclusive financing company under Ping An Insurance (Group) Company of China Ltd and Industrial Bank Co Ltd bundled insurance sales when extending loans to businesses to charge high service fees, according to a statement by the regulator.
 
The CBIRC urged financial institutions to enhance support for businesses to help firms get over difficulties, and not to attach unreasonable conditions.
 
The regulator vowed to act against practices that flout regulation.
 
It is necessary to effectively safeguard companies' rights to know, to make independent choices and conduct fair transactions. Banking and insurance institutions should not use market advantage to attach unreasonable conditions, force bundling sales and illegal charges, which will increase the hidden financing costs of small and micro enterprises.
 
They should strengthen corporate governance, implement the main responsibility for the management of branches or subsidiaries, and strengthen the management of cooperation with third-party institutions, said the regulator.
Source: Shanghai Daily, November 23, 2020

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