CX Daily: Illuminating The Silver Screen For The Visually Impaired

Beijing Mayor Chen Jining is appointed Communist Party chief of Shanghai. Another executive from China Development Bank is probed for graft

Film /

In Depth: Illuminating the silver screen for the visually impaired

Zhang Su’e lost her eyesight more than six decades ago after a bout of measles at the age of 2. However, the 64-year-old Beijinger is still a big fan of the movies.

On a recent August morning, Zhang and her husband went to a screening of a film that had been made accessible for visually impaired people. Throughout the film a timely and detailed audio description provided all kinds of visual information: every character’s appearance, scene transitions and changes in weather. Such audio services are like her white cane, Zhang said.

There are more than 17 million people with visual impairments in China, according to the World Health Organization. Public welfare advocates want to help them to engage in cultural activities such as watching movies without barriers.

Personnel /

Beijing Mayor Chen Jining appointed Shanghai Party boss

Beijing Mayor Chen Jining was appointed Communist Party chief of Shanghai, replacing Li Qiang who joined the country’s top leadership last week.

Chen’s appointment was announced at a meeting of leading cadres in Shanghai Friday, the state-run Xinhua News Agency reported.

Beijing’s deputy party boss and deputy mayor, Yin Yong, was named to the additional post of acting mayor of the capital after the Beijing municipal legislature accepted Chen’s resignation as mayor, according to the official newspaper Beijing Daily.

Chinese academic institute president named head of United Front Work Department

FINANCE & ECONOMY

CDB has been hit in recent years by a lengthening string of graft scandals involving top executives.　

Corruption /

Graft crackdown at China’s biggest policy lender snares another official

The anti-corruption storm sweeping China’s largest policy lender snared yet another executive who is believed to have links with the bank’s convicted former chairman.

Liang Liang, deputy head of the market and investment department of China Development Bank (CDB), was placed under investigation “on suspicion of serious violation in law and discipline,” the Communist Party’s graft buster said late Thursday in a statement. The phrase often refers to corruption.

HKEX /

HKEX suspends circuit breaker for Hang Seng Index futures

Hong Kong Futures Exchange Ltd., a unit of Hong Kong Exchanges & Clearing Ltd., suspended the volatility control mechanism for 10 Hang Seng Index futures products Wednesday due to a software problem at an external vendor, the exchange said before the opening bell.

After detailed investigation with the external vendor, the cause of the software issue that led to the suspension was identified, the exchange said.

Quick hits /

China’s State Council pledges faster growth in final quarter

Hiring by China’s smaller employers stays stuck at record low

BUSINESS & TECH

China’s stringent zero-Covid restrictions have impacted supply chains for 80% of the survery's respondents. Photo: VCG　

Business sentiment /

U.S. businesses report mixed outlook for China operations, survey shows

Nearly one-fifth of 300 companies surveyed by the American Chamber of Commerce in Shanghai said they are cutting investment in China due to recurring Covid-19 control measures, though more than half said they remained optimistic about the five-year business outlook.

The annual China Business Report released Friday found 19% of the 307 respondents decreased investment in China this year, citing Covid-related shutdowns, travel restrictions and supply chain disruptions as the top reasons. In 2021, only 10% of respondents said they had decreased investment.

ChemChina /

Swiss energy trader Mercuria buys back stake from ChemChina

Swiss commodities trading giant Mercuria Energy Group bought back the minority stake that Chinese state-owned ChemChina held in the Geneva-based company since 2016, Mercuria confirmed with Caixin Wednesday.

ChemChina bought a 12% stake in Mercuria in 2016 for an undisclosed sum and two years later said it planned to increase its holding with Mercuria considering an investment in ChemChina at the same time. The two companies never disclosed the progress of those deals. ChemChina last year became part of Sinochem Holdings.

Ammonia /

Chinese ammonia exports surge as European gas shortage hits local production

China exported 490 times as much synthetic ammonia in September as it did one year earlier after disruptions to Europe’s gas supply forced businesses there to reduce energy-intensive production of the chemical fertilizer component.

Chinese exports were up two-fold to 58,000 tons last month compared with August. That brought the total for the first three quarters to 105,000 tons, 48 times the amount shipped in the same period of 2021, according to the General Administration of Customs.

Quick hits /

China’s smartphone-makers ship fewer units as demand remains weak at home and abroad

Boeing expects China air fleet to double in two decades

GALLERY

World’s largest duty-free mall