CX Daily: Delivery Times Likely To Stretch After Beijing Warns Omicron Could Have Traveled In Mail
Delivery times likely to stretch after Beijing warns omicron could have traveled in mail
Chinese health officials have advised people to buy fewer foreign goods — and authorities said they would redouble efforts to disinfect inbound packages — amid claims that a Covid-19 patient in Beijing may have been infected by international mail.
The increased scrutiny of cross-border deliveries is just the latest in a long line of supply chain disruptions caused by the pandemic. Countries around the world have felt the effect of supply shocks such as a shortage of semiconductors and congestion at ports.
On Monday, the municipal government said the possibility that the Covid case found in the city over the weekend was caused by a package from Canada “couldn’t be ruled out.”
FINANCE & ECONOMY
Birth rate /
Charts of the Day: China’s record low birthrate heightens long-term economic challenges
China’s birthrate hit a record low last year, official data showed Monday, adding to concerns that the world’s second-largest economy will slow faster than previously expected.
The world’s most populous country had 10.62 million babies born last year, a birth rate of 7.52 per 1,000 people, according to data (link in Chinese) from the National Bureau of Statistics (NBS). The birthrate was the lowest since the founding of the People’s Republic of China in 1949.
The country’s total population grew by a net 480,000 last year to slightly over 1.41 billion, the mildest growth in 60 years, NBS data showed.
China’s securities regulator backs overseas share sales in orderly manner
China’s top securities regulator called for speedy implementation of policies governing overseas share sales by domestic companies and vowed to support listings of qualified companies in an orderly manner.
China Securities Regulatory Commission (CSRC) Chairman Yi Huiman made the comments in a work report Monday summarizing the regulator’s activities in 2021 and outlining priorities for this year.
Safeguarding nature can avert $9 trillion risk to China’s economy, study says
A new study by the World Economic Forum has built a case for preserving China’s natural environment as it highlights the steep cost of ecological degradation and opportunities of a "nature-positive" transition for the world’s second-largest economy.
The study, published on the first day of the virtual Davos Agenda, said that more than $9 trillion of the country’s annual economic output “is at risk of disruption” due to its dependence on natural ecosystems and their services. The figure represents 65% of the country’s total GDP, where biodiversity and nature loss could have a direct impact on business operations and their supply chains.
Quick hits /
Singapore tells crypto firms not to market services to public
In-Depth Analysis: NFTs will have wide applications once hype settles
BUSINESS & TECH
China steel output falls for first time in six years as government curbs bear fruit
China’s annual crude steel output fell for the first time in six years, dipping 3% to 1.03 billion tons in 2021, as the country seeks to rein in the industry to cut carbon emissions and other pollution.
For the first half of 2021, output surged 12% year-on-year to 563 million tons, as China’s economic recovery drove up demand. In the second half, however, monthly output began to decline, in line with the government’s goal to reduce annual production. Several regional steelmakers have reduced capacity accordingly. In the six months through December, China’s crude steel output fell 16% year-on-year to 470 million tons, National Bureau of Statistics (NBS) figures showed.
Kuaishou names new finance chief as losses grow
China’s second biggest short-video player Kuaishou Technology Co. Ltd. named a new chief financial officer (CFO) in the latest senior management shakeup for a company that is struggling with widening losses and plummeting market capitalization.
Jin Bing, 44, who had held senior management positions at several companies including online tutor Zuoyebang and livestream-platform operator Joyy Inc., officially replaced Nicholas Chong as Kuaishou’s new CFO Monday, according to an exchange filing.
Death of top Moutai sales executive under investigation
The death last month of Zeng Xiangbin, general manager of Kweichow Moutai Group’s sales company, is under investigation, according to China’s leading liquor maker.
Zeng, 49, committed suicide by jumping off a building because of work pressure, a former Moutai employee attending Zeng’s funeral told Caixin. The executive was involved in an investigation before his death, but it’s not clear what the probe was for, a person close to the Guizhou Liquor Association said.
Quick hits /
Hydro giant to add wind and solar as dam prospects cool
Cruise operator Genting Hong Kong may file for liquidation as funding dries up
Tech Insider /
Most China phone sales now 5G, Canon closes local plant
Ice climbers take up their crampons
Recommended newsletter for you /
China Green Bulletin Premium - Subscribe to join the Caixin green community and stay up to date with the most exclusive insights on ESG, energy and carbon. Sign up here.
Thanks for reading. If you haven’t already, click here to subscribe.
- MOST POPULAR