China has high ambitions for the development of the country’s digital economyChina’s State Council published the 14th Five-Year Plan for the Digital Economy in December 2021, expressing high expectations for a thriving digital economy to help boost the real economy.Economic policy advisor Liu Shijin highlights the importance of digitization of production in a recent essay. […]
The Chinese government will not back down from its zero-covid strategyChina’s strict Zero-Covid strategy has led to the shutdown of several ports and factories. For example, BYD, VW and Toyota factories in Xi’an, Tianjin, and Ningbo were closed. Due to the emergence of Omicron and the lack of mRNA vaccination in China, regional lockdowns and […]
Into the market: Easier market entry for someWith “stability” as a central focus, and an economy still dependent on foreign investment and trade, 2022 will be an important year for improving China’s business environment, as stated in the 14th Five-Year-Plan (FYP).Following the reduction of the foreign investment negative lists, a catalog of industries closed to […]
Common prosperity: the Chinese government is determined to create a more equal societyXi Jinping regards “common prosperity” as a path to achieve the Communists Party’s second centennial goal of “building a modern socialist economy” by 2049.The purpose of “common prosperity” is to reduce social inequality and income gap, to grow the middle-class population and to […]
Irish leasing executive Richard O’Halloran has returned home after a three-year wait. Chinese authorities had refused to allow him to leave the country in 2019 after his company became embroiled in a dispute with Chinese investors and authorities, the BBC reports. O’Halloran holds a supervisory position at CALS Ireland (China International Aviation Leasing Service). He […]
Hong Kong is lowering the quarantine period on entry by seven days to 14 days. The change is effective from February 5, said Chief Executive Carrie Lam. Diplomats and the financial sector had previously criticized the length of the quarantine, arguing that it would harm competition. Lam said she was not bowing to pressure from […]
The foreign ministers of the United States and China engaged in a predictable exchange of blows on Wednesday. Wang Yi accused the Americans in a phone call of disrupting the Olympics and urged them to refrain from any interference in China’s affairs. According to US accounts, the conversation was about Russian aggression in Ukraine. Antony […]
Decoupling is currently the buzzword in foreign trade discussions. Especially after the supply chain shocks of recent years, the decoupling of national economies is on the agenda of many economic policymakers – including in Germany. In addition, the United States also has to deal with its rivalry with China. It seems that the hope in […]