CX Daily: China’s Covid Response Calibration
CX Daily: China’s Covid Response Calibration
The northeast rustbelt province of Jilin is one of the worst-hit areas in the outbreak.
Covid-19 /
Cover Story: China’s Covid response calibration
As China’s zero-tolerance approach to Covid-19 faces its stiffest test in the two-year-old pandemic, policymakers are moving to recalibrate the strategy to better protect the world’s largest population while balancing the costs.
The nationwide daily case count soared sharply since the beginning of March as the highly transmissible omicron variant surged across China. New infections exceeded 5,000 March 14, the highest since the pandemic erupted in Wuhan in late 2019. As of March 17, 25,000 Covid cases were logged in the current upsurge.
Hong Kong can return to normalcy by July if ‘barrier of immunity’ is built, government adviser says
China defends dynamic Zero-Covid approach amid flare-up
China’s low elderly vaccination rate shows key vulnerability
China reports first Covid deaths in more than a year
A tale of three cities fighting omicron outbreaks
FINANCE & ECONOMY
Hong Kong's Hang Seng Index closed down 5.7% on March 15. Photo: VCG
Markets /
In Depth: Chinese stocks’ wild ride
Over the past two weeks, investors in Chinese stocks have probably had one question on their minds: Is the roller coaster ride over?
On March 8, the U.S. Securities and Exchange Commission (SEC) named five Chinese companies that could eventually be delisted from U.S. exchanges because American regulators can’t get access to their audit work papers. Two days later, U.S.-traded Chinese stocks began to fall in a plunge that lasted three straight trading days. During those three days, the Nasdaq Golden Dragon China Index, which tracks more than 90 Chinese stocks traded in the U.S., fell more than 10% each day.
The sell-off spread beyond U.S. borders, with the Hang Seng China Enterprises Index, which tracks Chinese mainland companies listed in Hong Kong, plummeting 15.6% from March 11 to March 15 and the mainland benchmark CSI 300 Index shedding 7.5% in the latter two days.
Private equity giant Hillhouse quashes loss speculation as stocks plunge
China-U.S. /
Xi Jinping calls for China and U.S. to share responsibilities for world peace
Chinese President Xi Jinping told U.S. President Joe Biden that the war in Ukraine “isn’t what we want to see,” calling for the two nations to share responsibilities for world peace.
Xi made the comments Friday in the first video call between the leaders of the two permanent members of the United Nations Security Council since Russia’s invasion of Ukraine last month.
China warns of ‘unimaginable’ fallout if Ukraine-like crisis happened in Asia
Carbon /
South China province plans to set up international carbon trading center
The Hainan provincial government is expected to launch an international carbon emissions trading exchange in the beach holiday destination city of Sanya in the second half this year, local state-run newspaper the Hainan Daily reported.
The announcement was made during a meeting held Friday by the local financial supervision bureau of Hainan province. The exchange, whose establishment was recently approved by the bureau, is a key step in implementing China’s green development strategy, the report said.
Quick hits /
China Huarong returns to profit in 2021 after state bailout
Editorial: Three principles should guide China’s economic future
BUSINESS & TECH
Photo: CCTV
Crash /
Plane carrying 132 people crashes in South China
A China Eastern Airlines flight carrying 123 passengers and nine crew members crashed Monday in Teng county, South China’s Guangxi Zhuang autonomous region, the Civil Aviation Administration of China (CAC) announced.
The number of casualties remains unknown.
The Boeing 737 passenger jet lost contact over Wuzhou on its way from Kunming, Southwest China’s Yunnan province, to Guangzhou in the southern province of Guangdong, according to the CAC.
Real estate /
Executives from luxury villa developer hauled in by authorities
Two executives of debt-ridden real estate firm Tahoe Group Co. Ltd. have been taken in for questioning by a law enforcement agency, Caixin learned from sources.
Vice President Huang Xi and Vice President Lin Wenhua of the Fujian province-based company were hauled in by authorities last week. It is unclear which agency has taken them, and their status is unknown. The firm announced last week that Chairman Huang Qisen was assisting investigators.
AI /
UCloud pins hopes on AI surveillance to get out of the red
UCloud Technology Co. Ltd. is hoping that selling surveillance powered by artificial intelligence (AI) to businesses could help turn around its widening losses.
The Shanghai-based company displayed six new products at a virtual launch event last week, focusing on community governance, transportation, manufacturing, industrial complex management, education and elder care.
Quick hits /
Shanghai Disney Resort closes temporarily as Covid cases reach record
China Evergrande and its units suspend trading in Hong Kong
GALLERY
The plight of the world’s forests