Caixin
Dec 20, 2022 10:06 AM
CX DAILY

CX Daily: China’s Drive to Kick the Foreign IT Habit

Loongson 3a1000 CPU launched in 2018.
Loongson 3a1000 CPU launched in 2018.

IT /

Cover Story: China’s drive to kick the foreign IT habit

Under government pressure, China’s giant state-owned enterprises are rushing to crank up domestic purchases of innovative information technology applications.

One is the travel information provider TravelSky Technology Ltd. Its request for proposals in November attracted a flood of bids from domestic IT equipment and cloud service vendors including Huawei Technologies Co. Ltd. TravelSky had been relying on foreign equipment and now has to increase its use of made-in-China products, a state-owned vendor participating the bidding told Caixin.

The State Council’s State-owned Assets Supervision and Administration Commission set new domestic-content requirements in October in response to expanding U.S. sanctions blocking access to advanced IT purchases.

Covid-19 /

Covid surge leaves blood banks begging for donations around China

Blood banks around China are facing shortages that could threaten patient lives as a growing number of donors come down with Covid-19.

The National Health Commission (NHC) Saturday published revised guidelines that allow most people to give blood seven days after last testing positive for Covid. Patients who suffered severe or critical conditions should wait until six months after their recovery to donate blood, the guidelines said.

China to experience three waves of Covid infections, expert says

Analysis: How China counts — and doesn't count — Covid deaths

Macao allows travelers to quarantine at home in latest China easing measure

Editorial: As China shifts from preventing to treating Covid, it needs the same fighting spirit

FINANCE & ECONOMY

Restoring and expanding domestic consumption will be prioritized, top policymakers said at the two-day Central Economic Work Conference.

Economy /

Key policy meeting highlights economic stability and restoring confidence

China’s top policymakers emphasized efforts to deepen reform, restore market confidence and bolster economic stability at a key annual meeting to set the economic policy agenda for the coming year.

Top leaders including President Xi Jinping and Premier Li Keqiang wrapped up the two-day Central Economic Work Conference (CEWC) Friday in Beijing, which outlined priorities for the economy in 2023, the official Xinhua News Agency reported.

Wang Tao: Key takeaways from China’s Central Economic Work Conference

Property /

China real estate’s nagging woes are ‘top priority,’ state economist says

China should waste no time in looking for medium- to long-term solutions to the problems plaguing the property sector that stem from a years-long pattern of high debt, high leverage and quick turnover, according to a senior economic official.

“Preventing and resolving the risks in the real estate market are a top priority,” said Han Wenxiu, a deputy director at the general office of the Central Financial and Economic Affairs Commission, during a Saturday meeting on the Chinese economy. The commission is chaired by President Xi Jinping.

Quick hit /

Top Australian diplomat heading to Beijing for ice-breaking trip

BUSINESS & TECH

According to the CAAC plan, air services will be restored in three phases. 

Flights /

China plans for air travel surge over Lunar New Year holidays

Passenger flights in China may rebound over the Lunar New Year holidays and hit 88% of the pre-pandemic level by the end of January, based on a timetable rolled out by the national civil aviation regulator.

The Civil Aviation Administration of China (CAAC) issued the plan following China’s shift last week away from its zero-tolerance approach to Covid-19. Demand for flights climbed quickly as the country abandoned most restrictions.

Drugs /

China’s state drugmakers scramble to stock pharmacy shelves amid run on Covid medicines

Some state-owned drugmakers moved to round-the-clock production and ramped up overseas procurement after the sudden reversal of China’s “zero-Covid” policy cleared pharmacy shelves of fever and cough medicines.

China National Pharmaceutical Group (Sinopharm) (HK.01099) put more than 160 of its subsidiaries on a 24-hour production schedule to expand output of key medicines to three times normal levels. Staff at retail pharmacies it operates are working more than 20 hours a day in some cases, Caixin learned.

Quick hits /

Hype is hurting consumer interest in self-driving vehicles, executive says

Foxconn unit to sell stake in China chip giant as Taiwan reviews deal

U.S. extends tariff reprieve on some Chinese goods amid review

Long Read /

There is more to China’s drop in consumer spending than Covid-19

GALLERY

Messi caps career with World Cup glory

 

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