Category: China ShortCuts

23rd Nov. 2022: COVID flare-up in Beijing, employment measures, foreign investment data

This episode is recorded under unusual circumstance, with your hosts unable to access the European Chamber’s Beijing office although there is no confirmed case in the building.

This episode covers the COVID-19 flare-up in Beijing, with comments from Adam Dunnett, Secretary General of the European Chamber; measures to improve employment among fresh graduates released by the Ministry of Education; and data on China’s actual use of foreign investment in the first ten months of 2022. News from the Chamber includes participation in a high-level roundtable co-hosted by the Ministry of Ecology and Environment and China News Service, where policies and measures related to the construction of China’s carbon market were introduced.

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Ministry of Education’ notice on employment among graduates (in Chinese):

http://www.moe.gov.cn/jyb_xwfb/gzdt_gzdt/s5987/202211/t20221116_993039.html

FDI data from the Ministry of Commerce (in Chinese:

http://www.mofcom.gov.cn/article/xwfb/xwsjfzr/202211/20221103368399.shtml

High-level roundtable with China’s Ministry of Ecology and Environment:

https://www.europeanchamber.com.cn/en/lobby-actions/6033

Contact:

We’d love to hear your feedback. Contact us at website@europeanchamber.com.cn.

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Transcript:

RUI: Hello and welcome to China Shortcuts,

MARIANN: the European Chamber’s weekly catchup about the Chinese business landscape.

(MUSIC)

RUI: A new COVID-19 flare-up in Beijing has yet again brought much of the Chinese capital to a standstill, with office buildings either under lockdown or operating with very limited capacity in the central business district and embassy district.

MARIANN: Chaoyang district has seen a sharp rise in daily cases after many office buildings and other venues have been requiring a negative PCR test result from within 24 hours for entry since early November. Despite the recent refinement of pandemic measures, lockdowns and quarantine measures are still in widespread use in Beijing, with local officials caught between the conflicting requirements of decreasing the number of new infections to zero, while minimising disruptions to people’s lives and business operations. Notably, today’s episode was recorded under unusual circumstances, with your hosts unable to access the Beijing office of the European Chamber.

RUI: Sharing his comments on the latest pandemic situation in Beijing is Adam Dunnet, Secretary General of the European Chamber:

ADAM DUNNETT: (Soundbite)

(MUSIC)

RUI: On the 16th of November, China’s Ministry of Education issued a document outlining measures to improve employment among fresh graduates, after newly released figures showed that among 16–24-year-olds the unemployment rate reached 17.9 per cent in October.

MARIANN: The ministry promised favourable policies for small and medium-sized enterprises so that they can play a bigger role in providing employment opportunities to young jobseekers. Universities were advised to gain better understanding of the job market by enhancing ties with companies and to hold recruitment events to help students connect with employers before graduation. Young people would also be encouraged to pursue self-employment and flexible employment opportunities, and to set up businesses in remote areas. According to official estimates, the number of university graduates in China could exceed 11 million in 2023, growing over 800 thousand from this year.

(MUSIC)

RUI: According to data released by China’s Ministry of Commerce on the 17th of November, in the first ten months of 2022 the actual use of foreign investment in China exceeded 1 trillion yuan, a year-on-year increase of 14.4 per cent.

MARIANN: The data also indicated that the actual use of foreign capital increased the most in the high-tech manufacturing sector, where a year-on-year rise of 57.2 per cent was registered. Chinese official data on FDI, however, usually includes investments coming from Hong Kong and Macao, with a large proportion of those coming from Chinese companies. Inbound investment flows from the European Union are declining overall, with the bulk contributed by a handful of large companies. As the recent official data showed: actual investment from Germany grew 95.8 per cent year-on-year in the first ten months of this year, but the majority of it was contributed by two large German companies.

(MUSIC)

RUI: On 16th November, the European Chamber and its member companies joined the high-level roundtable entitled “New journey, Green development”, co-hosted by the Ministry of Ecology and Environment and China News Service. During the meeting, officials from the Ministry introduced policies and measures related to the construction of China’s carbon market.

MARIANN: The hosts underlined China’s commitment to high-level opening up and green development. The European Chamber has been advocating for further strengthening cooperation between the EU and China in the area of decarbonisation, an area in which European companies are especially well-placed to contribute to China’s efforts.

RUI: At the event, officials highlighted that China is ready to strengthen cooperation with European companies in China, to jointly participate in the process of low-carbon and high-quality development, and to promote a ‘green recovery’ of the global economy. Chamber member companies had an in-depth discussion with high-level officials from the Ministry on topics such as environmental cooperation, carbon market construction and green transformation of enterprises.

RUI: Thanks for listening. Tune in again next week.

MARIANN: In the meantime, find useful links in the episode notes.

16th Nov. 2022: optimised COVID-19 control measures, inbound travel policy, first sectorial carbon peaking plan

This episode covers the updated inbound travel policy, based on the National Heath Commission’s recently released 20 measures to optimise China’s COVID-19 response as well as notices from Chinese embassies in several European countries; the on-the-ground situation for businesses in Beijing and Guangzhou due to COVID recent flare-ups, with comments from European Chamber Vice President and South China Chapter Chair Klaus Zenkel; and the first industry-specific carbon peaking plan, aimed at the building materials sector.

The European Chamber is currently collecting members’ comments on the draft National Social Credit System Law (details on how to participate here).

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9th Nov. 2022: German Chancellor’s visit, CIIE, October foreign trade data, policy incentives for private investment

This episode covers German Chancellor Olaf Scholz’s visit to China; the 5th China International Import Expo (CIIE) in Shanghai, with comments from European Chamber Vice President and Shanghai Chapter Chair Bettina Schoen-Behanzin; China’s October foreign trade data; and China’s National Development and Reform Commission’s latest policy incentives for private investment. News from the Chamber includes high-level meetings with the new Ambassador-designate to the European Union and the Communist Party of China Central Committee’s International Department.

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2nd Nov. 2022: October’s economic data, inhalable COVID-19 vaccine, foreign investment catalogue, industrial profits

This episode covers China’s manufacturing and services activity data in October; inhalable COVID-19 vaccines in Shanghai as a booster; the updated Catalogue of Encouraged Industries for Foreign Investment, with comments from Mr Xu Zhonghua, chair of the Energy Working Group; and industrial profits data from the first nine months of this year. In addition, the September/October 2022 edition of EURObiz on invisible market access barriers, which is available to download here, is introduced.

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26th Oct. 2022: Party Congress concluded, China’s third quarter GDP and foreign trade data, international flights

This episode covers the business implications of the Communist Party of China’s 20th National Congress, China’s third quarter gross domestic product (GDP) and sectorial data released by the National Bureau of Statistics, September foreign trade data, and updates on the increase of international flights to China, with comments from Philippe Bardol, chair of the Chamber’s Aviation and Aerospace Working Group. In addition, details are provided on the upcoming 2nd Carbon Neutrality Conference in Tianjin or online on 2nd November (sign up here).

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19th Oct. 2022: economic data delayed, price indices, revised measures on foreign financial firms, shipping prices drop

This episode covers the National Development and Reform Commission’s take on the third-quarter performance of China’s economy; September producer and consumer price data; revised regulations relating to foreign-funded financial firms that service enterprise groups, with comments from Susan Gao, vice chair of the Chamber’s Banking and Securities Working Group; and the latest drop in container freight rates. News from the Chamber includes recent high-level meetings with EU stakeholders and an event on decarbonisation on 27th October (sign up here).

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12th Oct. 2022: Golden Week tourism, industrial and services sector activities data

This episode covers the Caixin China General Services PMI of September, tourism data from the Golden Week with European Chamber President Joerg Wuttke’s comments on the impacts of domestic travel restrictions and results from China’s central bank survey on industrial entrepreneurs sentiment in the third quarter. Join us online on the 25th October to find out more about the key takeaways from the 20th Party Congress: Register here.

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