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News from China
China's foreign investment stable over year-to-date
5th November 2020

 China's foreign investment has remained relatively stable for the year-to-date despite uncertainties amid the COVID-19 outbreak and the complex global trade situation, according to the Ministry of Commerce.

According to United Nations Conference on Trade and Development’s latest report, total global cross-border direct investment fell 49 percent in the first half of this year.
Foreign direct investment from the United States, Singapore, Vietnam and India dropped by 61 percent, 28 percent, 16 percent and 33 percent, respectively; while China dipped only 4 percent in the first half year.
As China’s policies, especially those on stabilizing foreign investment, have been effective so far this year, from January to September, China’s actual use of foreign investment totaled US$103.26 billion, an increase of 2.5 percent over the same period of last year. In yuan term, it totaled 718.81 billion yuan (U$108 billion), up 5.2 percent year on year.
These figures marked that for the first time this year, the two cumulative indicators posted “double positive,” showing a counter-trend growth pattern, according to Zong Changqing, director of foreign investment department at the China Ministry of Commerce.
China has scientifically coordinated the prevention and control of epidemic diseases and economic and social development. As a result, major strategic achievements have been made, and China has taken the lead in the world in restoring order in production and livelihood.
In the first three quarters of 2020, China's economic growth figure turned from negative to positive, to become a “stabilizer” and “safe haven" for global cross-border investment, Zong noted.
"The practice of stabilizing foreign investment since the beginning of this year has once again proved that the attraction of China’s huge market to foreign capital has not changed," Zong said. "Also, the comprehensive competitive advantage in industrial support, human resources and infrastructure has not changed, nor have the expectations and confidence of enterprises in long-term foreign investment and operation in China."
The country's foreign trade in the fourth quarter is expected to extend the current stable and positive trend, meeting the annual target of the stabilization work and bringing the 13th Five-Year Plan to a successful end.
Source: Shanghai Daily, November 5, 2020
More office workers planning to change jobs: survey
3rd November 2020

 According to online recruitment platform, white-collar workers have a strong desire to change jobs this fall, with 67 percent of surveyed respondents saying they are taking active steps in this regard.

That proportion is nearly 10 percentage points higher than the same period a year ago.
Meanwhile, the number of office workers who are taking a wait-and-see attitude contracted by 10 percentage points, accounting for 28.5 percent of those surveyed. Only 0.7 percent of participants said they are satisfied with their current jobs and will not change.
Professionals engaged in IT, communications, business services and the financial industry are the most active job-hoppers; the proportion of such workers who are updating their CVs and actively looking for jobs are all over 55 percent, on average.
These industries are also characterized by vitality and rapid change, which helps drive rapid turnover of talent, noted.
Salary and benefits remain the primary factors for people to change jobs, while "unclear development prospects" and "limited promotion opportunities" are also important motivators for the departure of office workers, according to the report.
Source: Shanghai Daily, November 3, 2020
Chinese mainland reports 24 new COVID-19 cases, including 3 locally transmitted
2nd November 2020

 Three new locally transmitted COVID-19 cases were reported on the Chinese mainland Sunday, all in northwest China's Xinjiang Uygur Autonomous Region, the National Health Commission said Monday.

A total of 30 new asymptomatic cases, including 24 arriving from outside the mainland, were reported, the commission said in its daily report.
On Sunday, 20 COVID-19 patients were discharged from hospitals after recovery on the Chinese mainland. One new suspected COVID-19 case from outside the mainland was reported in Shanghai. No new deaths related to the disease were reported, the commission added.
It said that 21 confirmed cases arriving from outside the mainland were reported Sunday.
Of the new imported cases, six were reported in Shanghai, five in Guangdong, three each in Shanxi and Gansu, two in Sichuan, and one each in Tianjin and Jiangsu, the commission said.
By the end of Sunday, a total of 3,401 imported cases had been reported on the mainland. Of them, 3,100 had been discharged from hospitals after recovery, and 301 remained hospitalized. No deaths from the imported cases had been reported.
As of Sunday, the total number of confirmed COVID-19 cases on the mainland had reached 86,021. Of them, 363 patients were still being treated, including 12 in severe condition.
Altogether 81,024 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 14,489 close contacts were still under medical observation after 683 were discharged Sunday, according to the commission
Source: Shanghai Daily, November 2, 2020
CPC Central Committee establishes news release mechanism, holds 1st press conference
30th October 2020

 The Communist Party of China Central Committee held its first press conference on Friday to introduce and elaborate on the guiding principles of the 19th CPC Central Committee's fifth plenary session, marking the establishment of the CPC Central Committee's news release mechanism.

The establishment of the news release mechanism is an important institutional arrangement and innovation for upholding and strengthening overall Party leadership and improving the Party's governance capability, a senior official said at the press conference.
Xu Lin, deputy head of the Publicity Department of the CPC Central Committee and director of the State Council Information Office, said the mechanism was established to meet the need of new situations and the demands of the day as socialism with Chinese characteristics has entered a new era.
The four-day fifth plenary session of the 19th CPC Central Committee concluded on Thursday.
The 19th Communist Party of China Central Committee's fifth plenary session has spoken highly of the decisive achievements made in securing a victory in building a moderately prosperous society in all respects.
The work of the Political Bureau of the CPC Central Committee since the 19th CPC Central Committee's fourth plenary session has been fully recognized by the fifth session, said Wang Xiaohui, deputy head of the Publicity Department of the CPC Central Committee.
Xi Jinping, general secretary of the Communist Party of China Central Committee, has personally led the formulation of the CPC Central Committee's proposals for the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, an official.
Xi acted as head of the proposal drafting group, said Han Wenxiu, an official with the Central Committee for Financial and Economic Affairs, at the press conference.
Source: Shanghai Daily October 30, 2020

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