With news circulating about possible official outgoing visits by Chinese leaders, people are hopeful this heralds the easing of anti-epidemic restriction and normalisation of cross-border exchanges. In any case, it will be interesting to see which sets of leaders the Chinese approach first. Zaobao correspondent Yang Danxu tells us more.
While China has yet to emerge from the shadow of the Covid-19 pandemic and its ailing real estate sector, power shortages caused by severe weather conditions are adding to its woes. Zaobao correspondent Yang Danxu tells us more about the severity of the power crunch, and its far-reaching impact across regions and industries.
Zaobao correspondent Yang Danxu notes that China is facing multiple headwinds that are making its economic recovery all the more elusive. From dealing with incessant Covid-19 outbreaks to the real estate crisis, economic recovery has become a dire political issue, especially with the impending 20th Party Congress to be held later this year.
Despite repeated warnings from Beijing, US House Speaker Nancy Pelosi has landed in Taiwan. Her act has triggered strong reactions from Chinese netizens, raising Chinese national sentiment to a new high. Beijing has strongly condemned the visit, sent jet fighters over the Taiwan Strait and said that it would conduct live-fire exercises around the island. It has also announced economic sanctions on Taiwan, and warned of more "long-term, resolute and steadily advancing actions”. Zaobao's Beijing correspondent Yang Danxu examines the situation.
Amid the controversy over honouring Japanese war criminals, Xuanzang Temple in Nanjing has found itself in more hot water as its former abbot Chuanzhen was exposed for his connections in the business and official circles. Zaobao correspondent Yang Danxu gives a profile of this senior monk and what his secular activities mean for the temple and for Buddhism.
Homebuyers refusing to continue repaying their loans following stalled projects by developers has gained attention in China, with the government calling on banks to extend loans for these ailing real estate companies. Will this lead to a spillover effect that will ultimately damage China’s financial system and economic stability? Zaobao correspondent Yang Danxu tells us more.
Rural bank depositors have clashed with police after finding themselves unable to withdraw their funds, prompting financial regulators to step in and repay customers on behalf of the banks first. If this exercise is not handled delicately, will trust between the people and government be affected? Zaobao correspondent Yang Danxu speaks to bank customers and academics to find out more.
With the latest virtual call between Chinese Vice-Premier Liu He and US Treasury Secretary Janet Yellen, observers are anticipating that the US will lift the Trump-era punitive tariffs on China and de-escalate the four-year-long China-US trade war that has hurt both economies. Zaobao correspondent Yang Danxu looks at how the situation might develop and how Biden might play his cards.
With the economic and political blowback from its regulatory crackdowns in the past two years, coupled with economic pressures from the pandemic, the Chinese authorities may be ready to ease up on high-pressure regulations of the internet sector.