The Sunday Mail
Manyika Kangai
20th CPC National Congress Date Set
China’s ruling Communist Party’s twice-a-decade leadership congress will begin on October 16, according to a meeting by the Political Bureau of the Communist Party of China (CPC) Central Committee. The 20th CPC National Congress that will take place over a week, mostly behind closed doors at the Great Hall of the People in central Beijing, will decide China’s leaders for the next 5-year term. The Political Bureau meeting stressed that “the congress will hold high the great banner of socialism with Chinese characteristics, uphold Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory, the Theory of Three Represents and the Scientific Outlook on Development, and thoroughly implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era.”
China Arrests Hundreds in Rural Banking Scandal
Police in central China’s Henan province have arrested more than 230 people suspected of involvement in a massive rural banking scandal. The criminal gang, headed by Lu Yi, illegally took control of four rural banks, including Yuzhou Xinminsheng Village Bank, and are suspected of committing a series of serious crimes, according to the Public Security Bureau in the city of Xuchang. The gang lured depositors with unusually high annual interest rates of 13-18 percent. Two hundred and thirty-four (234) people were arrested and work to recover the lost funds was underway. Authorities began to repay depositors from mid-July, starting with those who had less than 50 000 yuan (US$7 227) at the institutions. The government has incrementally rolled out repayments for those with higher deposits.
China Resumes Regular Power Supply
Power supply to large-scale industrial and commercial enterprises has become normal in southwest China’s Sichuan Province and Chongqing Municipality where a persistent heatwave had caused severe power shortages this summer according to the State Grid Corporation of China. In Chongqing Municipality, as temperatures have dropped, the demand for air conditioning has plunged so the municipality now has sufficient power supply, and the imbalance of power supply and demand has eased. Data also shows that the peak load in Sichuan has declined from 65 million kilowatts to 48 million kilowatts and as water flows in major river basins have increased, the daily hydroelectric power generation in Sichuan has risen to 520 million kilowatt-hours (kWh), up 23,8 percent from the lowest level registered.
China to Release Pork Reserves
China’s authorities will release pork from government reserves in batches from September to ensure pork supplies, according to the country’s top economic planner, The National Development and Reform Commission (NDRC). The NDRC and relevant departments will guide local authorities to release pork reserves as the country will celebrate several important festivals in the next few months, such as Mid-Autumn Festival, National Day Holiday, and Spring Festival. The NDRC said it will pay close attention to market changes and maintain market order. Previous data showed that the price of pork, a staple meat in China, increased 25,6 percent month-on-month.
China’s Internet Users Grow
The number of China’s netizens grew to approximately 1,05 billion as of June, with the ratio of internet access coverage nationwide reaching 74,4 percent, according to a report released by the China Internet Network Information Centre on Tuesday. The weekly average time for internet usage stood at 29, 5 hours per person, with 99,6 percent accessing the internet via mobile phones. By June, China saw 33,8 million internet domain names registered and over 1,85 million 5G base stations deployed across the country. The number of short-form video service users gained the most notable growth and reached 962 million, up 28 million from last December.
*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:
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