Indholdsfortegnelse for Vol.66/No.9 i Beijing Review

Registration-Based IPO China has officially rolled out its across-the-board registration-based initial public offering (IPO) system with relevant rules becoming effective on February 17, according to the country’s securities regulator. Of milestone significance in the reform of China’s capital market, the move has basically put in place the institutional arrangements for the system, the China Securities Regulatory Commission said in a statement. The rules involve simplifying listing requirements, optimizing registration procedures, improving the regulations on underwriting and major asset restructuring of listed firms, strengthening oversight and law enforcement, and stepping up investor protection. The registration-based IPO reform—initiated in 2018 and successively adopted by the scitech innovation board (STAR market) at the Shanghai Stock Exchange, the NASDAQ-style ChiNext board of growth enterprises at the Shenzhen Stock Exchange and the Beijing Stock Exchange—has…

On February 6, Qin Yanbei, general manager of a private company, attended a special meeting in China’s capital where he met Premier Li Keqiang. Li chaired the seminar, soliciting opinions on the draft government work report, which reviews the government’s performance in 2022 and outlines priorities for the coming year. Qin’s company, in Ningbo, Zhejiang Province, manufactures and sells household items such as toys, festive decorations, candles and lamps. During the gathering, he shared his suggestions drawn from the perspective of his work, such as further relieving the financial difficulties of small and medium-sized companies, and increasing subsidies for research and development projects of these enterprises. Noting the challenges private companies face in China, Li urged more efforts to stabilize the economy and boost economic recovery. Aside from Qin, representatives…

The devastation of American military intervention remains fresh and painful in Afghanistan, leaving many Afghans angry at the U.S. and NATO for their failures, and for the crushing economic and humanitarian disasters that followed the fall of the Western-backed government. Then came the Ukraine crisis, which has wrecked more havoc on regional and global security and development. The world is witnessing the largest ground conflict in Europe since the end of World War II (WWII). The first anniversary of the Ukraine crisis comes while every party is mobilizing as much as they can for renewed fighting in the spring. The intensification of Western support for Ukraine, in particular, is provoking counterstrikes from Russia, leaving the world in a fluid and fastmoving situation. When will the war end? Will the Ukraine…

In the digital age, online celebrities attract public attention and influence followers more easily on issues such as what to buy and where to go. The latest trend spreading among civil servants: becoming social media influencers to promote their hometowns. Xie Wei, Director of the Culture and Tourism Bureau of Suizhou Prefecture in Hubei Province, is one such official-turned-influencer. He has found success online making an ancient ginkgo forest and other local scenic spots famous around the nation. Testing the waters In a short video that was widely discussed and made fun of on social media in late 2022, Xie is dressed in the costume of an ancient swordsman. He performs swordplay, plays chess and drinks wine under ancient ginkgo trees in the golden hues of autumn. He and his…

PAKISTAN Security personnel leave a police station following a terrorist attack on the site in Karachi on February 17. Three attackers were killed and 10 people were injured NEW ZEALAND Military personnel perform rescue operations on the cyclone-affected North Island on February 17. Cyclone Gabrielle had claimed the lives of 11 people as of February 19 BRAZIL A man carrying a bag makes his way through a landslide-hit site after torrential rain in São Paulo state on February 22 brought extensive flooding and landslides. The death toll had reached 48 as of February 23, with dozens still missing UNITED STATES A protester holds up a sign reading “The Pentagon Budget Monster” during an anti-war rally in Washington, D.C. on February 19 GERMANY A woman in costume poses for a picture…

Xiao Du, a 28-year-old accountant living in Qingdao, Shandong Province, is the proud owner of no fewer than six cats and one dog, all of whom she found on the street. “My pets’ medical expenses amount to some 6,000 yuan ($873) every year. But my pet insurance does save me a lot of money,” she told Beijing Review. As China’s economy grows, people’s disposable income increases and their spiritual needs become more prominent. Combined with an aging population and many young people delaying marriage and having children, the growing demand for companionship is bringing about a surge in the country’s pet economy—or the economic market related to pets. Furry friends, which can provide emotional support, are often considered part of the family. According to the 2021 China Pet Industry White…

From an amateur baker to a full-time vendor of homemade tiramisu, it took Yan Hui just a few months to make this transition. And it all started from her car trunk. The idea of selling tiramisu from her car came to her in early 2022, when large sections of Beijing’s Chaoyang District, where Yan lives, were in quarantine due to the COVID-19 pandemic. Subways and buses weren’t running so her car became her main mode of transportation. To make some extra money, she turned to the coffee-flavored Italian dessert. Despite Yan being somewhat of an amateur baker, her friends always hailed her homemade cakes as “the best ever.” She figured she might as well give “professional” baking a go. So she whipped up a few tiramisu cakes, parked her car…

The China National Arts and Crafts Museum (China Intangible Cultural Heritage Museum) in Beijing has regained its popularity since reopening to the public on January 1, simultaneously displaying three exhibitions—all free of charge. Among these three, an exhibition of the paper cutting works of a seasoned artist from Shanxi Province in north China has proved particularly popular with Beijingers and visitors to the capital alike. Named after Shanxi’s famous Taihang Mountains, the ongoing Soul of Taihang exhibit displays the meticulous paper cuttings created by artist Zhang Yongzhong. The style and motifs of this age-old Chinese art vary from region to region, reflecting distinctive local histories and folk cultures. The more than 400 works on display at the museum showcase the simpler paper cutting style found in China’s northern region, especially…

Internet of Things China’s Internet of Things (IoT) sector is expected to log strong expansion in the coming years, and the country’s number of IoT connections will reach close to 10.25 billion by 2026, according to a report from global market research firm International Data Corporation (IDC), Xinhua News Agency reported on February 18. The consumption sector will take the lion’s share of these connections, with the smart home and wearable devices fields continuing to be the major growth drivers, the report read. The number of consumption-related IoT connections is expected to approximate 5.98 billion by 2026, and connections related to the manufacturing and public facilities sectors will be about 300 million and 2.2 billion, respectively, the report stated. IDC also forecasts a double-digit expansion of IoT connections in the…

The Two Sessions, or lianghui in Chinese, refer to the annual meetings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) National Committee in Beijing. The meetings normally take place in March and last around 10 days, with the CPPCC National Committee session opening first. Together, they represent the pinnacle of China’s political season and the top-end of China’s whole process democracy. The CPPCC National Committee is China’s top national organ providing advice and consultations. It draws together more than 2,000 members from a very wide spectrum of society, including leading governmental and nongovernmental figures in politics, economics, academics, and the scientific, artistic and sporting communities, along with representatives of ethnic minorities. It includes Communist Party of China (CPC) members as well as representatives from…

A piece of Tibetan tapestry with images of three angels stood out when Tanzin Chinleh live-streamed to introduce the products in his store on February 11. “It is a tailored handmade product we are going to promote this year,” the 32-year-old told viewers. He founded Jiangzi Zangtan Culture Development Co. Ltd. in Gyangze County, Xigaze, Tibet Autonomous Region, in 2014. Three weeks earlier, his company had become registered as a foreign trade operator and making tailored Tibetan tapestries for the global market is high on his agenda. Innovation-driven growth Tibetan tapestries, together with Turkish carpets and Persian rugs, are the three most reputed types of carpet in the world. Gyangze in south Tibet has been famous for its masterful tapestries for centuries and almost every household in the county knows…

Longyan, a city in Fujian Province in southeast China, is gearing up for a more productive relationship with economic powerhouse Guangzhou, capital of neighboring Guangdong Province. Under a framework agreement signed on February 14, the two cities will further cooperation in a wide range of areas including culture, tourism, infrastructure, industrial development, rural revitalization, environmental protection, education, science and technology, healthcare, state-owned assets, finance and human resources. A National Development and Reform Commission action plan aimed at supporting former revolutionary bases formalized the partnership between Longyan and Guangzhou in May 2022. The two cities have since worked together to make the most of their respective strengths for win-win outcomes. Last year saw the inauguration of direct high-speed rail and air links between the cities. Headway was also made in the…