China: Daily Scan, January 13, 2022
Kota Mallikarjuna Gupta, Research Associate, VIF
China's new yuan loans rise in 2021: Xinhuanet
January 12, 2022

China's new yuan-denominated loans totaled 19.95 trillion yuan (3.13 trillion U.S. dollars) in 2021, up 315 billion yuan year on year, central bank data showed Wednesday. In December alone, new yuan loans stood at 1.13 trillion yuan, down 123.4 billion yuan year on year, according to the People's Bank of China (PBOC).Click here to read...

China unveils plan to boost digital economy in 2021-2025 period: Xinhuanet
January 12, 2022

China's State Council on Wednesday rolled out a plan to facilitate the development of the digital economy in the 14th Five-Year Plan period (2021-2025). The country aims to raise the proportion of the added value of core digital economy industries in its GDP to 10 percent in 2025, up from 7.8 percent in 2020, according to the plan.Click here to read...

China's NEV sales top globally for 7 consecutive years: Xinhuanet
January 12, 2022

China ranked first globally in terms of the sales of new energy vehicles (NEVs) for a seventh straight year in 2021, despite economic uncertainties and supply-chain pressure, official data showed Wednesday. The country's NEV sales came in at 3.52 million units last year, according to the Ministry of Industry and Information Technology (MIIT).Click here to read...

China aims high in agricultural sci-tech innovation: Xinhuanet
January 13, 2022

China is striving to beef up its innovation capacity in agricultural science and technology to further safeguard food security of the country, according to a five-year development guideline of the Chinese Academy of Agricultural Sciences (CAAS) released on Wednesday.Click here to read...

Xi's Party school lecture highlights CPC's historical confidence: China Military
January 12, 2022

Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, called on Tuesday for efforts to deepen the review, study, education and promotion of the CPC's history so as to better understand and make good use of the historical experience of the Party over the past century.Click here to read...

Foreign car companies record mixed performances in Chinese market in 2021 with chip shortage becoming a headache for some firms: Global Times
January 12, 2022

Foreign car companies showed a mixed performance in the Chinese market last year with some brands, like BMW and Porsche, recording a surge in sales, while some companies are facing the challenge of a widespread chip shortage. According to a report by the Securities Times, sales of German automaker BMW in China hit a historical record in 2021. The company delivered 846,237 units in China last year, up 8.9 percent on a yearly basis. Following the same trend, Porsche delivered 95,671 cars in China in 2021, up 8 percent from the previous year, the report showed. Click here to read...

Nation to ramp up 6G innovations, satellite-empowered networks: Global Times
January 12, 2022

China vowed to increase support for 6G innovations and promote 6G international standardization in a digital economy development plan for 2021-25 released on Wednesday, reiterating the country's ambition of maintaining its edge in the ultrafast 6G era, despite challenges and hurdles.Click here to read...

China steps up construction along disputed Bhutan border, satellite images show: Reuters
January 13, 2022

China has accelerated settlement-building along its disputed border with Bhutan, with more than 200 structures, including two-storey buildings, under construction in six locations, according to satellite image analysis conducted for Reuters. The images and analysis supplied to Reuters by U.S. data analytics firm HawkEye 360, which uses satellites to gather intelligence on ground-level activities, and vetted by two other experts, provide a detailed look into China's recent construction along its frontier with Bhutan.Click here to read...

New US report dismisses Beijing’s claim to South China Sea ‘historical rights’: South China Morning Post
January 13, 2022

The US government stepped up its criticism of China’s territorial claims in the South China Sea on Wednesday, issuing a report that declares “historical rights” a meaningless term.
Referencing the 1982 United Nations Convention on the Law of the Sea (Unclos) and an international ruling dismissing most of China’s claims in the South China Sea, the US State Department said in its report, titled Limits in the Seas, that they “gravely undermine the rule of law in the oceans”.Click here to read...

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