At China’s top leadership, it was always possible for different political agendas to exist next to each other. But since 2012 next to Xi Jinping – up for his unprecedented third term as CCP party secretary – very few variations in leadership style have been given room, says political analyst Victor Shih at the ABC. The retirement of premier Li Keqiang finalizes Xi’s powerful position, he adds. China’s next premier is likely to be a good friend of Xi, while women and ethnic minorities make little chance.
The question of when China might end its rigid zero-Covid policy is already for two years on the agenda. While a large part of the rest of the world has been helped by a rigorous vaccination program and ended most of the Covid measures, Goldman Sachs expects an end in China at best during the second quarter of 2023, according to this report by Bloomberg.
Guangzhou added in the first six months of 2022 nine new global unicorns, a privately held startup company valued at over US$1 billion – taking its total to 19, according to a new list from the Hurun List, writes the China Daily. “These unicorns are leading a new generation of disruptive technology,” says Rupert Hoogewerf, chief researcher of the Hurun Report.
China has a longstanding tradition of bailing out large debtors using huge asset management companies (AMCs). But today they cannot solve the country’s real estate problems, says political and financial analyst Victor Shih to the Japan Times. “Any state injection into the AMCs could add further strain to the nation’s finances,” says Victor Shih