The Sunday Mail
Manyika Kangai
China’s Sichuan Hit by Earthquake
A 6.8-magnitude earthquake jolted Luding County in southwest China’s Sichuan Province on Monday, according to the China Earthquake Networks Centre (CENC). The tremor was felt in Chengdu, capital of Sichuan, which is 226 km away from the epicentre. China’s President Xi Jinping has ordered all-out rescue efforts to minimise casualties, stressing that saving lives should be taken as the primary task. Over 2 700 military and armed police personnel have been dispatched to assist with disaster response. A total of 74 people have been killed and 26 remain missing, while over 3 951 people have been evacuated to safe locations and 270 wounded survivors have been rescued and treated. The Communist Party of China (CPC) Central Committee has allocated 20 million yuan (about US$2,9 million) in funds from party fees to assist with disaster relief and reconstruction efforts.
China’s Foreign Trade Sustains Growth
China’s foreign trade in goods jumped 10,1 percent year-on-year to 27,3 trillion yuan (about US$3,95 trillion) in the first eight months, according to official data released on Wednesday. Exports rose 14,2 percent year-on-year to 15,5 trillion yuan (about US$2,2 trillion), while imports increased 5,2 percent from a year ago to 11,8 trillion yuan (about US$1,7 trillion), according to the General Administration of Customs (GAC). From January to August, China’s trade with its top three trading partners – the Association of Southeast Asian Nations (ASEAN), the European Union and the United States – grew 14 percent, 9,5 percent and 10,1 percent, respectively.
China’s Forex Reserves Fall
China’s foreign exchange reserves totalled US$3,05 trillion at the end of August, down US$49,2 billion from July, according to data from the State Administration of Foreign Exchange released on Wednesday. Wang Chunying, deputy director and spokesperson of the Administration, attributed the decrease in foreign exchange reserves to factors including exchange rate conversion and asset price changes.
China’s Means of Production Prices Rise
Most of the capital goods monitored by the Chinese government posted higher prices in late August compared with mid-August this year, according to official data released by the National Bureau of Statistics. Of the 50 major goods monitored by the government, which include seamless steel tubes, fuel, coal, fertiliser and some agricultural products mainly used for processing, 25 saw their prices increase, while 24 posted lower prices. The reading, which is released every 10 days, is based on a survey of nearly 2 000 wholesalers and distributors in 31 provincial-level regions.
China Launches Cybersecurity Week in Military Barracks
A week-long awareness campaign to promote cybersecurity in military barracks kicked off on Monday. According to officials, it aims to promote civility in cyberspace, boost cyber literacy among military personnel and solidify cybersecurity in the armed forces to create a sound military-related cyberspace environment for the preparation of the upcoming 20th National Congress of the Communist Party of China. A launch event was held at the Airborne Force of the People’s Liberation Army Air Force. Military units have organised their troops to study secrecy regulations on cybersecurity, obtain relevant knowledge and skills, enhance cybersecurity incident response plans and bolster their capacity to thwart cyber-attacks and sabotage.
*Manyika Kangai helps African businesses realise the full potential of the vast opportunities China presents. He has over 15 years of experience facilitating and advising on China-Africa trade and investment deals. Feedback +27743487997/
