The Sunday Mail
Manyika Kangai
China hit by heavy rains and floods
Chinese authorities have launched massive rescue and relief efforts in response to typhoon-induced torrential rains, which have left 11 dead in the national capital, Beijing, which recorded its heaviest rainfall over the past few days since records began 140 years ago. The persistent downpours have affected over 44 600 people in 13 districts of the metropolis and prompted the relocation of around 127 000 people, according to the city’s flood control authorities. Affected by Typhoon Doksuri, extreme rainfall was recorded in north China and the regions along the Yellow and Huaihe rivers, triggering floods and geological disasters and causing heavy casualties in Beijing and Hebei. Chinese President Xi Jinping demanded all-out search and rescue of the people missing or trapped in floods and geological disasters.
China slams US military assistance to Taiwan
Tan Kefei, spokesperson for the Ministry of National Defence, slammed the United States for a plan to provide military assistance to China’s Taiwan region, in response to a question from the media on the White House’s recent announcement of military assistance to Taiwan, which will include equipment, training and other forms of assistance. Tan said such military assistance to Taiwan flagrantly interferes in China’s domestic affairs, severely undermines China’s sovereignty and security interests, and seriously jeopardises peace and stability across the Taiwan Strait. Tan urged the US “to stop all forms of military collusion with Taiwan and avoid going further down the wrong and dangerous path”.
China unveils policy incentives to boost consumption
China’s top economic planner the National Development and Reform Commission (NDRC) released a notice with 20 measures to boost consumption amid efforts to sustain economic recovery and promote high-quality development. The measures aim to stabilise consumption of big-ticket items, expand service consumption, promote rural consumption, explore new types of consumption, improve consumption facilities and optimise the consumption environment. The government vowed to spur consumption of a wide range of items and services, including New Energy Vehicles (NEVs), home appliances, electronics, catering, cultural and tourism sectors, and pledged to support demand for housing and improved living.
China extends support for micro and small businesses
China has decided to extend several favourable measures, including lending support and tax reduction, for micro and small businesses until the end of 2027 to boost their growth, according to statements jointly released by the Ministry of Finance and the State Taxation Administration. Taxpayers with monthly sales revenue of no more than 100 000 yuan (about US$14 000) will continue to be exempt from value-added tax (VAT) and those that pay a 1 percent favourable VAT rate, which was reduced from 3 percent, will continue. Lender income stemming from loan interest and guarantee fees related to such small business entities will remain free from VAT, and their loan contracts will continue to be exempt from stamp duty.
China covers highway service areas with charging stations
Nearly 90 percent of China’s highway service areas had installed charging stations by the end of June, according to data from the Ministry of Transport released on Monday. As of the end of June, China put 18 590 charging stations in use at 5 931 out of the 6 628 highway service areas, enough to power 29 000 electric passenger cars. An additional 27 000 parking spots are qualified and reserved for charging station installation. China plans to improve its charging infrastructure to meet public demand.
*Manyika Kangai has over 15 years of experience facilitating and advising on China-Africa trade and investment deals. Feedback/+27743487997/ www.muvambi-sa.co.za
