This episode covers measures to further optimise pandemic control and boost economic recovery, BioNTech’s mRNA vaccines to be permitted for German citizens residing in China, Chinese producer and consumer prices in November, and Chinese Premier Li Keqiang’s meeting with six major international economic organisations during the 7th “1+6” Roundtable. In addition, the November/December 2022 edition of the European Chamber’s bimonthly magazine, EURObiz on diversity and inclusion, which is available to download here, is introduced.
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Official price indices (in Chinese):
7th ‘1+6’ Roundtable:
Optimising COVID controls in logistics and transportation (in Chinese):
EURObiz, November/December 2022:
RUI: Hello and welcome to China Shortcuts,
MARIANN: the European Chamber’s weekly catchup about the Chinese business landscape.
RUI: The Chinese government has continued releasing a slew of measures over the past week to further optimise pandemic control and boost economic recovery.
MARIANN: One day after the release of ten new measures aimed at further adjusting the country’s COVID response, the Ministry of Transport issued a notice on the 8th December, detailing how pandemic controls will be optimised in the logistics and transportation sectors. Among the changes listed in the notice was the suspension of the use of health codes for domestic travel. The Ministry also called for ensuring orderly transportation services and a smooth flow of traffic, as well as for maintaining normal operations while strengthening the protection of front line workers. Another major step towards resuming normal domestic travel was the discontinuation of the travel history tracking app on 13th December.
RUI: On 9th December, China’s foreign ministry announced / that German citizens residing in China / will be granted access to BioNTech’s mRNA vaccines – which is the first time Beijing has permitted the use of foreign developed vaccines on the Chinese mainland.
MARIANN: The move was widely expected following German Chancellor Olaf Scholz’s visit to Beijing last month. The announcement came days after Germany granted permission for the Chinese developed Sinovac jabs to be imported to Germany so that they can be administered to Chinese citizens. The European Chamber has been advocating, and will continue to advocate, for the roll out of leading mRNA vaccines for domestic use for all citizens in China, regardless of their nationality. Allowing the use of the best combination of vaccinations and boosters could help prevent a spike in serious COVID-19 related illnesses amid the sharp increase of infections seen in recent days.
RUI: According to data released by the National Bureau of Statistics, year-on-year, Chinese producer prices have continued falling for the second month in a row in November, while the increase of consumer prices decelerated to the slowest pace since March.
MARIANN: The bureau explained the 1.3 per cent drop in factory gate prices with a high base from last year, while pointing out that on a month-on-month basis, producer prices inched up slightly due to high energy and raw material costs. The rise of consumer prices eased to 1.6 per cent year-on-year, mainly due to the combined impact of a higher base in the same period last year and weakened domestic demand.
RUI: On the 9th of December, Chinese Premier Li Keqiang met with the heads of six major international economic organisations in Huangshan, Anhui province, and held discussions on global economic matters.
MARIANN: The meeting was held as the seventh annual roundtable between China and the six organisations, including the World Trade Organization, the International Monetary Fund, and the World Bank. The participants met in person for the first time since the onset of the Covid-pandemic. Premier Li underlined China’s readiness to work with all parties to chart the course of openness and cooperation and promote the steady growth of the global economy. He also pledged that China would double down on attracting foreign investment and provide equal access to all supportive policies for both domestic and foreign-invested firms. The Chinese Premier said that moving forward, China would better coordinate pandemic control with economic and social development, and would take further steps to ensure the steady operation of industrial and supply chains, and facilitate international exchanges and the flow of people.
RUI: Multiple research studies have shown that teams made up of people from a diverse set of backgrounds, ages and perspectives fare better than non-diverse teams. Building an inclusive environment is also important for employees to feel confident enough / to make suggestions and be innovative. The same concept applies to society and policy-making as well as business.
MARIANN: The November/December 2022 edition of the European Chamber’s bimonthly magazine, EURObiz looks at diversity and inclusion, and its importance for European business.
RUI: Also featured in this edition are articles on some of the key business trends to expect in 2023, the market prospects and investment paths of China’s biopharma industry, and the revised standards that allowed more types of cheese to enter the Chinese market.
RUI: Thanks for listening. Tune in again next week.
MARIANN: In the meantime, find useful links in the episode notes.