CX Daily: College Student Depression Hides Anxieties About Jobs and Covid
Virus control measures and uncertain opportunities increase mental health burdens of those studying at universities in China
A nucleic acid testing site on the campus of a university in Qingdao, East China's Shandong province, on Oct. 13, 2020. Photo: VCG
Covid-19 /
In Depth: College student depression hides anxieties about jobs and Covid
In the small six-bed dormitory, Dai Chang could only cry when muffled under her blanket so to not disturb her roommates. The student in Xi’an, Northwest China, had lost not only her daily routine, but also her appetite, a week on from being sealed into her college campus. She cried herself to sleep most nights.
Dai finally left for home 20 days into the campus lockdown, but her mental state did not improve. At home, she battled to suppress the urge to self-harm and often broke down in uncontrollable tears. She was admitted to a psychiatric unit in February, diagnosed with depression and prescribed medication.
Shanghai heightens Covid restrictions after a spike in cases sparks concern
Employment /
Some Chinese colleges won’t let students graduate without proof of employment
Some Chinese universities and colleges, under pressure to maintain the employment rates for their graduates, required students to provide employment agreements before allowing them to graduate, leading to some students submitting fake job contracts.
In response, the Ministry of Education (MOE) vowed to strictly verify employment data through measures such as entrusting third-party agencies to investigate and encouraging residents to report such cases, according to a statement (link in Chinese) published this week.
FINANCE & ECONOMY
In recent years, trust companies have been told to reduce the size of their channeling business, shrink the size of their noncompliant financing business and ramp up the disposal of risk assets. Photo: VCG
Trust /
Regulatory reform forces China’s trust firms to cut back on risky lending
Following four years of regulatory reform, China’s trust firms are gradually getting back on their feet.
Regulators have been pushing plans to strengthen oversight of the $3 trillion trust industry to help contain risks arising from shadow banking, which has experienced a series of crises including those at Sichuan Trust Co. Ltd. and Shanghai-listed Anxin Trust Co. Ltd.
AMCs /
China deploys asset management giants in cleaning up small banks
China’s top banking regulator is pressing the government’s giant asset management companies to play a greater role in reducing risks related to nonperforming assets of small and medium-sized banks, Caixin learned from people close to the matter.
The China Banking and Insurance Regulatory Commission (CBIRC) issued new rules for asset management companies (AMCs) in acquiring and disposing of such assets and participating in the design of restructuring plans for the banks, the people said.
Bonds /
China to sell $3.46 billion of treasury bonds in Hong Kong
China’s Ministry of Finance unveiled a plan Monday to sell 23 billion yuan ($3.46 billion) of yuan-denominated treasury bonds in Hong Kong this year.
The bonds will be issued in four batches, with the first issue of 7.5 billion yuan of notes set for June 15, the Finance Ministry said. Maturity periods of the bonds will range from two to five years.
Quick hits /
Bank of China joins four global institutions in green banking initiative
Ling Huawei: Missions of international organizations and roles of China
BUSINESS & TECH
The National Press and Publication Administration (NPPA) issued a list on its website late Tuesday of domestic titles granted licenses.
Gaming /
Tencent, NetEase miss out in China’s new game approvals
Chinese regulators cleared publishing licenses Tuesday for 60 online games in this year’s second batch of new title approvals following an eight-month suspension — leaving out industry titans Tencent Holdings Ltd. and NetEase Inc. again.
The National Press and Publication Administration (NPPA) issued a list on its website late Tuesday of domestic titles granted licenses, including computer and mobile games developed by Perfect World, Mihoyo and Migu Culture Technology Co. Ltd.
Solar /
Biden’s Southeast Asia solar tariff reprieve a bright spot for Chinese producers
China’s major photovoltaic (PV) producers may see a surge in their exports, analysts said, after U.S. President Joe Biden ordered a temporary halt to tariffs on Southeast Asian solar suppliers, many of which are backed by Chinese companies.
In a Monday statement the White House described as an “emergency declaration,” Biden said that solar cells and modules from Cambodia, Malaysia, Thailand, and Vietnam will be given a two-year reprieve from any tariffs as the U.S. seeks to fix “threats to the availability of sufficient electricity generation capacity to meet expected customer demand.”
Amazon /
Amazon seals deal to provide data tools for Hong Kong industrial park
Cloud computing behemoth Amazon Web Services (AWS) sealed a deal to provide some of its datasets and data technology to companies in a Hong Kong industrial park home to more than 1,000 tech firms.
The partnership will allow the U.S. tech giant and Hong Kong Science and Technology Parks Corp. to create a series of programs that offer qualified local researchers access to pandemic and cancer-related datasets on AWS platforms, according to a joint statement released Monday.
Quick hits /
Driver assistance solution firm Minieye hauls in extra cash
ASML to expand China staff 14% as Covid disruptions ease
Long Read /
Archive Interview: Lee Hsien Loong on what Singapore can – and can’t – teach China
GALLERY
