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China Insights

SwedCham China Insights for the week of May 24 – 28, 2021

Top news of the week:

  • Yuan Longping, “Father of Hybrid Rice” passes away at 91
    May 24, 2021

    On May 22, Yuan Longping, an exceptionally well-respected scientist commonly known as the “father of hybrid rice”, died at age of 91. As the founder and a leading scientist in hybrid rice in China, the methodology he and his team invented benefited millions of rice farmers and saved more from hunger. Yuan’s death quickly triggered massive reactions both online and offline.

  • Commodities prices lead to government meetings and reminders to industry
    May 25, 2021

    On 23 May, four government agencies held a special meeting and summoned key companies in critical staple commodities. The meeting warned major companies to prohibit pushing prices and storing up staple commodities to ensure stable domestic market in the turbulence of international futures market. Some experts expect new policies will be announced soon to ensure supply.

  • Premier Li Keqiang urges further reform while in Zhejiang province
    May 26, 2021

    Premier Li Keqiang paid a visit to Ningbo, Zhejiang province urging for deepening reform, sustained opening-up, boosting overall vitality of market entities, actively tackling the changing domestic and international environment, and pushing the economy to be stable and positive. On May 25, the National Development and Reform Commission published the action plan for deepening reform of price mechanism during the 14th Five-Year Plan period.

  • Report highlighting e-cigarette risks leads to fall in company shares
    May 27, 2021

    On May 26, the World Health Organization (WHO) and National Health Commission (NHC) held a press conference to celebrate World No Tobacco Day and release the 2020 China Report on the health hazards of smoking. The report included a new section on health risks of e-cigarettes. After the release, Smokers International, Warburg International, and China Bolden, all e-cigarette companies, saw their share prices drop. BYD electronics’ shares increased, however, due to a patent approval.

  • First Vice Premier Han Zheng encourages SOEs and entrepreneurs to stay on track regarding the emission peak plan and carbon neutrality
    May 28, 2021

    First Vice Premier Han Zheng stressed efforts to accomplish the nation’s emissions peak and carbon neutrality goals on schedule while presiding over the first plenary meeting of a leading group on the emissions peak and carbon neutrality in Beijing. Han stated that the goal of peaking the carbon emissions by 2030 and achieving carbon neutrality by 2060 is a major strategic decision made by the nation’s top leadership. Han highlighted targeted policy measures to optimise industrial structure, promote adjustment of the energy structure and development on green and low-carbon technologies.

     

Insight of the week:

On 23 May, National Development and Reform Commission (NDRC), Ministry of Industry and Information Technology (MIIT), State-owned Assets Supervision and Administration Commission (SASAC), State Administration for Market Regulation (SAMR) and China Securities Regulatory Commission (CSRC) held a special meeting and summoned key companies in critical staple commodities including ironstone, steel products, copper, aluminium. The meeting warned major companies to prohibit pushing prices and storing up staple commodities to ensure stable domestic market in the turbulence of international futures market. Experts believe administrative “reminders” may not effectively limit the rise of prices due to a global shortage of supply, hence many predict a new round of policies will be announced soon to ensure supply and relieve the ongoing speculation.

About Kreab

Founded in Stockholm, Sweden, in 1970, Kreab is a global strategic communications consultancy with offices in 25 countries, serving over 500 global clients. Kreab advises on communication issues of strategic importance in business, finance, and politics, helping clients solve complex communications challenges and achieve their strategic goals. The Kreab Beijing team is well known for its track record of helping clients manage and strengthen their reputation through services spanning corporate communications, financial communications, public affairs, and social media. Contact Kreab at kchina@kreab.com, follow Kreab on WeChat (ID: KreabChina), or visit Kreab’s website at https://www.kreab.com/beijing.