CX Daily: The Vision Of Singapore’s Next Prime Minister

Singapore /

Cover Story: The vision of Singapore’s next prime minister

Entering 2023, as major global economies usher in a relatively stable political cycle and China walks into a new phase following the 20th Communist Party’s National Congress and drastic changes in its Covid control measures, Singapore and China will jointly write a new chapter in the post-pandemic era by strengthening cooperation in recovery efforts and working together to maintain stable regional development.

As the successor to Singapore’s Prime Minister Lee Hsien Loong, the country’s Deputy Prime Minister Lawrence Wong will play a key role on this journey. Wong was elected as the new leader of Singapore’s fourth generation leadership team in April 2022, following a collective decision by the new leadership team of Singapore’s ruling People’s Action Party.

Missing /

Missing for 100 days, teenager found dead behind school

The body of a 15-year-old student who disappeared from school in eastern China more than 100 days ago has been found on a mountain behind the school, local authorities said.

On Sunday, police in Shangrao, Jiangxi province, issued a statement saying DNA tests confirmed a body found hanging from a tree on Jinji Mountain by local residents was that of Hu Xinyu, whose months-long disappearance drew nationwide attention and led to multiple search efforts involving thousands of people.

FINANCE & ECONOMY

Employees work on a textile production line in Qingdao, East China’s Shandong province, on Sunday. Photo: VCG

Economy /

China’s provinces target household spending in plans for post-‘zero Covid’ recovery

Most Chinese provinces have made expanding household spending a priority this year to help the world’s second-largest economy recover from one of its worst showings in decades as policymakers try to pull together a raft of growth-boosting measures with the end of “zero Covid.”

At least 25 of the 31 provincial-level governments on the Chinese mainland listed increasing household consumption among their policy goals for the new year, with new-energy vehicles (NEVs), senior care services, tourism and housing among the key areas, analysts at TF Securities Co. Ltd. said in a Jan. 18 report.

China-U.S. /

U.S. seeks ‘guardrails’ in China talks to avoid conflict, State Department says

U.S. Secretary of State Antony Blinken will discuss competition and cooperation between China and the U.S. including management of nuclear weapon stockpiles and climate change during his trip to Beijing early next month, according to a department spokesman.

Following the summit between President Xi Jinping and President Joe Biden in Bali last year, Blinken will seek to “discuss those areas that have the potential to be conflictual, where we hope to establish those guardrails to see to it that competition doesn’t veer into conflict,” State Department spokesman Ned Price said during a press conference Wednesday.

Quick hits /

PBOC to extend monetary policy tools for green sector

China resumes visas for Japan, ending Covid retaliation

BUSINESS & TECH

A staff member in protective clothing works beside an airplane in September 2022 at Yantai Penglai International Airport, East China’s Shandong province. Photo: VCG

Aviation /

Losses blow out at China’s airlines as passengers dip to 12-year low

China’s civil aviation industry plunged deeper into the red in 2022 as Covid restrictions effectively shut down international travel and sent passenger numbers tumbling to a 12-year low with airlines racking up annual losses exceeding the previous two years combined.

However, there are hopes things may turn around quickly after the abandonment of the “zero-Covid” strategy last month and the removal of quarantine-on-arrival Jan. 8, with the Civil Aviation Administration of China (CAAC) saying it expects the industry to break even this year as it works to boost passenger numbers and flights.

Chips /

U.S.-led chip talks targeting China closer to deal, ASML says

The U.S. government is hashing out the final details of an agreement with the Netherlands and Japan that would further squeeze the supply of chipmaking tools to China, according to key Dutch fab supplier ASML Holding NV.

The disclosure from ASML over the weekend raised questions about whether such a deal would extend previous curbs on the most advanced machines to the sale of slightly less advanced fabrication equipment such as deep ultraviolet (DUV) lithography.

AI /

IFlytek jumps by daily limit as AI arouses investor interest

Shares of Chinese artificial intelligence (AI) specialist iFlytek Co. Ltd. climbed 10% on the first day of trading after the week-long holiday as chatbot ChatGPT reignited investor interest in the space despite the company’s recent profit warning.

IFlytek’s stock rose by the daily limit to 41.67 yuan ($6.17) a share in Shenzhen Monday, a day after it disclosed in an exchange filing that its 2022 profit suffered a 60% to 70% drop.

Quick hits /

China gives conditional nod to two homegrown Covid antivirals

Apple’s iPhone dominated China last quarter despite disruptions

Long Read /

What Jack Ma taught me in 1999

GALLERY

China’s post-holiday hunt for workers

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