The Sunday Mail
Manyika Kangai
China Further Eases Covid-19 Restrictions
China’s State Council Joint Prevention and Control Mechanism Against Covid-19 released a circular on further optimising China’s Covid-19 response. According to the circular, the 10 measures were introduced based on the latest epidemic situation and mutation of the virus to contain the epidemic in a more science-based and targeted manner. Relevant departments in localities are required to rectify oversimplified or one-size-fits-all approaches and excessive policy steps, oppose and curb pointless formalities and bureaucratism, and faithfully implement prevention and control measures to maximise the protection of people’s lives and health and minimise the impact of the epidemic on economic and social development. Some of the changes include removing mass testing and reducing the scope and frequency of testing, allowing home quarantine for asymptomatic carriers and those with mild symptoms and non-high-risk areas will not impose travel restrictions or suspend businesses.
China’s Foreign Trade Up
China’s foreign trade of goods expanded 8,6 percent year-on-year to 38,34 trillion yuan (about US$5,78 trillion) during the first 11 months of the year, according to the General Administration of Customs. Exports rose 11,9 percent year-on-year to 21,84 trillion yuan (about US$3,29 trillion), while imports increased 4,6 percent from a year ago to 16,5 trillion yuan (US$2,49 trillion). From January to November, China’s trade with the Association of Southeast Asian Nations, the European Union, and the United States grew 15,5 percent, 7 percent, and 4,8 percent, respectively. In this period, China’s trade with countries along the Belt and Road soared 20,4 percent year-on-year to 12,54 trillion yuan (US$1,89 trillion). Private enterprises saw imports and exports increase 13,6 percent from a year ago to 19,41 trillion yuan (about US$2,93 trillion) in the first 11 months, accounting for 50,6 percent of the country’s total.
China’s Forex Reserves Rise
China’s foreign exchange reserves rose to US$3,1175 trillion at the end of November, up 2,13 percent from a month earlier, according to data from the State Administration of Foreign Exchange released on Wednesday. The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation and asset price changes.
China-Russia Gas Pipeline Progresses
A key section of the China-Russia east-route natural gas pipeline project has been completed, allowing natural gas from Russia to be transported to China’s eastern economic powerhouse Shanghai. With a total length of 5,111 km, the cross-border gas pipeline enters China via the border city of Heihe in north-eastern Heilongjiang Province and runs through Znine provincial-level regions, supplying natural gas to areas along the route, including Beijing, Shanghai, and Tianjin, according to the construction company, PipeChina. By 2025, the pipeline is expected to supply 38 billion cubic meters of natural gas annually, equivalent to reducing carbon dioxide emissions by 164 million tonnes per year.
Shanghai Expands 5G Network
China’s financial hub, Shanghai has built over 68 000 5G base stations so far, with all its 16 administrative regions covered by the 5G network, according to the Shanghai Communications Administration. By the end of October, the Shanghai branches of China Telecom, China Mobile and China Unicom — China’s three major telecom operators — had approximately 12 million 5G mobile phone users, accounting for 27 percent of the Shanghai total mobile phone users, and up 51,4 percent year-on-year. The city’s airports, train stations and subway routes have full 5G coverage.
*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
