20220506 China News
Source: | Author:eacham | Published time: 2022-05-06 | 826 Views | Share:


China's central bank on Thursday announced that it has established a re-lending facility worth 200 billion yuan ($30.47 billion) to boost scientific and technological innovation.The interest rate of the one-year re-lending arrangement stands at 1.75 percent, the People's Bank of China (PBOC) said.



Shenzhen’s first quarter (Q1) GDP grew by 2% year on year to 706.46 billion yuan (US$107 billion), data released by the city’s statistics bureau Wednesday night showed.Between January and March, despite COVID-19 disruptions, Shenzhen navigated uncertain domestic and international environments and had a smooth start to its economy this year. The city successfully contained the spread of COVID, ensured its smooth and orderly operations, and supported Hong Kong in its fight against the pandemic, the bureau said.


Following the recovery of 4,271 COVID-19 patients on Monday, there were 16,266 confirmed COVID-19 cases undergoing treatment in hospitals across the Chinese mainland, the National Health Commission said in its Tuesday report.



China Development Bank, one of the country's policy banks, extended 21.1 billion yuan (US$3.19 billion) in the first quarter to support the country's logistics system.The loans went toward construction of national logistics hubs, cold-chain logistics bases and international logistics supply chains, the bank said.



China has great investment prospects, which will unleash great potential for further development, a German professor has said.In a recent interview with Xinhua, Horst Loechel, an economics professor at the Frankfurt School of Finance and Management, said that consumption and investment from companies will be boosted as the epidemic gets over.



Shanghai's ongoing disinfection campaign has covered all the 13,000-odd residential compounds along with the nearly a million online delivery parcels piled up at the gates of local communities every day.About 160,000 times of disinfections are conducted daily across about 140 million square meters of the city as one of the key campaigns to eliminate community transmission of COVID-19, according to Shanghai Vice Mayor Liu Duo.



Chinese stocks surged on Friday, after a key meeting spurred market confidence and the nation axed stock transfer fees-the first such cut in nearly seven years-to lower trading costs for investors. The benchmark Shanghai Composite Index went up 2.4 percent to more than 3,040 points and the Shenzhen Component Index closed about 3.7 percent higher at more than 11,020 points.

Author: Producer Emilio Mendez

Speaker: Caroline Parraguez

Edition: EAcham

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