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Beijing Review

Beijing Review Vol.63/No.18

Beijing Review is China's only national newsmagazine in English. It is published every week in Beijing, by the China International Publishing Group (CIPG). Launched in March 1958, Beijing Review reports and comments on the country's social, political, economic and cultural affairs, policy changes and latest developments. It also offers in-depth analysis on major regional and international events, and provides consulting and information services.

Страна:
China
Язык:
English
Издатель:
Beijing Review
Периодичность:
Weekly
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2 мин.
a rational perspective

The Chinese economy recorded a 6.8-percent drop in GDP in the first quarter over the same period last year, the first since 1992, when the GDP began to be accounted. Though a drop was anticipated, still the growth rate figure issued by the National Bureau of Statistics (NBS) has triggered excessive concern and pessimism. While concerns about the economic conditions are understandable, exaggerated dismay serves no purpose. For starters, the figure is actually better than expected. Many international institutions had forecast that the Chinese economy would decline 8-10 percent year on year in the first quarter, which makes the 6.8-percent fall better than what was anticipated. Also, the economy performed differently in the first three months. The GDP fell steeply in January and February but rebounded in March. It reflects a fact…

5 мин.
society

Testing Time A worker in the disease prevention and control center in Changxing, a county in Zhejiang Province in east China, passes samples ready for testing for COVID-19 on April 21. As production has resumed and some students have returned to school recently, the center is doing more tests for the safety of workers and students. Revised Figures The city of Wuhan in central China revised its numbers of confirmed novel coronavirus disease (COVID-19) cases and deaths on April 17. The total number of cases by the end of April 16 was revised up by 325 to 50,333. The number of fatalities went up by 1,290 to 3,869. The Wuhan municipal headquarters for COVID-19 epidemic prevention and control said the revisions were made in accordance with related laws and regulations. One reason for the data revision…

6 мин.
economy

Cloud Infrastructure Alibaba’s cloud computing branch announced on April 20 it would invest 200 billion yuan ($28 billion) in the research and development of core technologies such as cloud operating system, servers, chips and networks within three years. Alibaba Cloud Computing Co. Ltd. said the investment would expand the scale of Aliyun’s data centers and servers. Zhang Jianfeng, President of Alibaba Cloud Intelligence, said that cloud intelligence is one of Alibaba’s core strategies and will not be affected by the impact of the novel coronavirus. He said the company has been committed to data center construction for 11 years and boasts over 100 cloud data centers in 21 regions around the world. Alibaba will utilize its latest technology research achievements in building the next-generation data centers. Documentary Industry New media platforms are reshaping China’s documentary industry, ushering…

1 мин.
world

RUSSIA Epidemic control staff spray disinfectant on the hands of passengers arriving from Turkey at an airport in Kazan on April 21 SAUDI ARABIA Minister of Agriculture Abdulrahman Al-Fadhli (center) attends the Group of 20 agriculture ministers’ virtual meeting in Riyadh on April 21. The member countries vowed to guard against unjustified coronavirus response measures that could lead to excessive global food price volatility UNITED STATES A gas station attendant fills up a vehicle in Plano, Texas, on April 20. U.S. crude futures prices crashed into negative territory on the New York Mercantile Exchange for the first time in history EGYPT Children show painted eggs to celebrate Sham el-Nessim, a traditional festival marking the beginning of spring, at home in Cairo on April 20 MOROCCO A man walks by a wall painting lauding coronavirus-fighting medical staff in Salé on…

5 мин.
people & points

JD FOUNDER RESIGNS Founder of Chinese e-commerce giant JD Liu Qiangdong, also known as Richard Liu, has resigned as the legal representative, executive director and general manager of Beijing Jingdong Century Trading Co. Ltd., the chief operating entity of JD. JD downplayed the change and described it as a “fairly normal management move.” Beginning this year, 47-year-old Liu has stepped down from the top management positions of 46 other JD subsidiaries, including JD Digits, JD Logistics and JD Cloud. But experts said the move does not mean that Liu will depart from the company as he still has absolute control over JD. Liu holds about 16 percent of JD stock and is the second largest shareholder, controlling nearly 80 percent of the company’s voting rights. Xu Lei, Chief Executive Officer of JD Retail, who…

9 мин.
back in the saddle

After a brief period of contraction due to novel coronavirus-triggered headwinds, China’s major economic indicators rebounded in March and are anticipated to see better performance in the second quarter. As the National Bureau of Statistics (NBS) released the data on China’s economic performance on April 17, indicating that the GDP growth rate declined by 6.8 percent year on year to around 20 trillion yuan ($2.8 trillion) in the first quarter (Q1), NBS spokesperson Mao Shengyong said with the fundamental industries resuming growth steadily, the economy still maintained overall stability in the period. “The strict measures adopted early on for containing the epidemic led to sharp declines in manufacturing, investment and consumption activities in January-February, but work and production resumption in March helped drive up domestic demand,” Wen Bin, chief researcher with China…