The Sunday Mail
Manyika Kangai
China Eastern Airlines Passenger Plane Crash
At about 2.38pm on Monday, China Eastern Airlines flight MU5735 lost contact and crashed over Wuzhou City, Guangxi, during a Kunming to Guangzhou flight. There were 123 passengers and nine crew members on board. No survivors have been found and one of the two black boxes of the plane has been recovered. China’s President Xi Jinping expressed shock at the news and dispatched a team of high-level government officials to conduct investigations to identify the cause of the accident and take effective measures to strengthen civil aviation safety management. The Office of the Security Committee of the State Council and the Ministry of Emergency Management jointly issued a notice requiring all regions, relevant departments and units to implement the principle of “People First, Life First”.
China Opens Up to More African Products
An easing of trade rules for some African countries by the Chinese customs authorities is allowing more agricultural products from Africa into China. South Africa, Kenya and Zimbabwe are among the African countries that have recently signed revised protocols allowing them access to the Chinese consumer market. The move is in line with China’s President Xi Jinping’s promise during the Forum on China-Africa Cooperation (FOCAC) last year to open “green lanes” for African agricultural products into China, speed up inspection and quarantine procedures, and broaden the products which no tariff is charged.
China Releases Energy Targets
China’s National Development and Reform Commission and the National Energy Administration have jointly released a plan for developing a modern energy system during the 14th Five-Year Plan period (2021-2025), setting targets for securing energy supplies and boosting energy efficiency. By 2025, China aims to bring the annual domestic energy production capacity to over 4,6 billion tonnes of standard coal. The annual crude oil output will recover and stabilise at 200 million tonnes, while the annual natural gas output will reach over 230 billion cubic metres by 2025. The plan stresses efforts to advance the large-scale and high-quality development of wind and solar power generation, and develop nuclear power in an active, safe and orderly manner.
China’s Non-Ferrous Metal Output Slightly Down
China’s non-ferrous metal industry saw a slight decline in output in the first two months of 2022, according to the National Bureau of Statistics. The output of ten types of non-ferrous metals reached 10,5 million tonnes during the January-February period, down 0,5 percent year-on-year. The ten leading non-ferrous metals are copper, aluminium, lead, zinc, nickel, tin, antimony, mercury, magnesium and titanium. The industry saw steady output expansion last year, with output reaching 64,5 million tonnes, up 5,4 percent year-on-year.
China To Implement VAT Rebates
A State Council executive meeting chaired by China’s Premier Li Keqiang on Monday decided that China will implement the policy of large-scale Value-Added Tax (VAT) rebates to provide strong support for a stable macroeconomic market. The VAT credit refund this year is worth around 1,5 trillion yuan (about US$235,6 billion). The meeting decided to refund VAT credits to micro and small enterprises and self-employed households as general VAT payers across all sectors. The refunding process will start on July 1 and be completed by the end of the year. Newly added credits will also be fully refunded monthly starting from April 1.
Manyika Kangai has over 15 years of experience facilitating and advising on China-Africa trade and investment deals. He also researches and analyses the Chinese market. Feedback: +27743487997/ www.muvambi-sa.co.za
