Recent news of a large-scale housing project acquisition by a state-owned enterprise (SOE) has gained widespread attention. While some are welcoming the government’s efforts to revive the sluggish property market, others are wary of profiteering and corruption opportunities. Zaobao correspondent Chen Jing takes a look at the implications of the SOE’s move and whether China’s property market will finally look up.
Covid-19 prevention and control has normalised in Shanghai, but the economic costs are still being felt across the country. China has continually implemented new measures to balance pandemic control efforts and stimulate the struggling economy, but is it enough? Chen Jing, Zaobao correspondent based in Shanghai, tells us more.
China’s Big Fund has come under scrutiny following a series of high-profile corruption investigations involving key persons in the chip industry. The CHIPS Act was also recently signed into law in the US to counter China, which makes things even more difficult for the sector. Zaobao correspondent Chen Jing speaks to industry experts to find out how the Big Fund can come out of this crisis.
With the changes to provincial party committee members complete, the run-up to China’s 20th Party Congress continues. Major questions remain: who will take over from Li Keqiang as premier? And who will make it into the Politburo? Zaobao correspondent Chen Jing tells us more.
Discrimination against those who have had Covid-19 doesn’t only happen among neighbours and friends, but at the workplace and between localities too, says Zaobao correspondent Chen Jing. This discrimination is based on irrational fear and stems from China’s tight zero-Covid measures.
With the impact of the pandemic putting pressure on local government budgets across China, the latest wave of salary reductions for civil servants has taken hold in Shanghai, with no quarterly bonuses given out in some cases. China’s financial capital has not been doing well since the two-month pandemic lockdown took a heavy toll on businesses and general operations. Can the city recover?
Zaobao correspondent Chen Jing observes that while the lockdown in Shanghai has been lifted, people are still nervous that the sporadic Covid-19 cases could trigger another lockdown. Regulations remain strict and prohibitive, so people are hesitant to say that things have returned back to normal. Furthermore, with the 20th Party Congress coming up, Shanghai’s situation will be a bellwether for the country’s economic recovery.
While some people are rejoicing as Shanghai gradually resumes daily life and business operations, the lockdown experience has traumatised others that are looking to leave the city and never return. Zaobao’s Shanghai correspondent Chen Jing finds out more.