CX Daily: The Disarray of China’s Vocational Education System
Professional training /
Cover: The Disarray of China’s Vocational Training System
China will soon need millions of skilled workers who keep an economy running, such as auto mechanics, heating and air conditioning repairers, electricians, plumbers and computer technicians.
Yet the vocational education system has fallen into disrepair, leaving the world’s second-largest economy ill-equipped to replace millions of highly skilled people retiring as the population ages and the workforce shrinks. In 2021, 57.8 percent of Chinese people aged 18 to 22 were enrolled in higher education, according to the Ministry of Education. Meanwhile, the proportion of enrollment in vocational high schools fell to 35% in 2020 from 60% in 1998.
China will go to war if ‘anyone dares’ to help Taiwan’s independence, defense minister warns
Chinese Defense Minister Wei Fenghe explicitly warned the United States Sunday that he will go to war to defend his sovereignty over Taiwan if “someone dares” to try to separate the island from the Chinese mainland.
Addressing the Shangri-La Security Dialogue in Singapore, Wei said, “If anyone dares to help Taiwan break away from China, we will not hesitate to fight; we will fight at all costs; and we will fight until the end.
Chinese, Australian defense chiefs break the ice with ‘frank’ talks
Japan to boost the country’s defense capability
Tang Shan /
Northern Chinese city launches blitzkrieg to tackle gang violence amid national outcry
A city in northern China launched a targeted campaign against organized crime after a brutal assault on four women at a local restaurant sparked national outrage and renewed discussion about sexual harassment and gang violence.
The campaign in Tangshan in Hebei province started on Sunday and will last two weeks. It targets illegal activities with “strong public reaction and bad social impact,” including fighting, provocation, intentional injury and insulting women, state media reported, citing local authorities.
Opinion: Why No Passersby Came to the Rescue of Assaulted Women in Tangshan
FINANCE & ECONOMY
Chairman of Minsheng Securities under anti-corruption investigation
Feng Henian, a former head of China’s securities regulator and current chairman of a major Chinese securities brokerage firm, has been investigated by the nation’s graft breakers for “serious disciplinary violations,” the agency said.
Feng, 60, was arrested by authorities on Tuesday, several people familiar with the matter confirmed to Caixin. Half a dozen people were also taken in for questioning, including members of his family, they said. Feng’s residence in Beijing was raided, they said.
Chinese household savings rise as Covid restrictions curb spending
Chinese households saved more in the first five months as severe Covid-19 restrictions and a continued slowdown in family asset growth caused by the pandemic dampened spending.
In the January-May period, household savings increased by 7.86 trillion yuan ($1.17 trillion), about 50.6% more than the increase in the same period last year. last, according to data released Friday by the People’s Bank of China, the country’s powerhouse. bank.
May lending in China accelerates faster than expected
Loan in China accelerated more than expected in May, boosted by a gradual resumption of production which was disrupted by Covid lockdowns in parts of the country. Loan growth in April was the weakest in nearly five years.
Banks extended 1.89 trillion yuan ($281.7 billion) in new yuan loans in May, up 392 billion yuan from the same period last year and nearly triple the low of April, according to data released Friday by the People’s Bank of China. Bank lending topped the 1.36 trillion yuan projected by economists in a Caixin survey.
Hubei Province, Nanjing Reduce Covid Quarantine Time
A province in central China and a few cities in the east of the country halves the time visitors must centrally quarantine while they ease Covid-19 restrictions.
Hubei Province and some cities in Jiangsu Province, including Nanjing and Xuzhou, have already started implementing the new pandemic control policies, according to a WeChat-integrated mini-program belonging to the State Council. , the cabinet of the country.
Beijing and Shanghai resume mass testing as cases increase
Quick shots /
Editorial: China should deepen reform, opening up to maintain economic stability
COMPANY & TECHNOLOGY
Analysis: In China’s medical beauty industry, only the fittest now survive
Increased regulation has left China’s once-hyped medical beauty industry ready for a redesign which seems likely to favor companies whose core technologies and products comply with the new rules.
An era of “strong regulation” has begun for Chinese medical beauty companies in 2021, a year when watchdogs issued more than 20 new regulations designed to stamp out violations in the industry, said Liu Wenzheng, an analyst at Minsheng Securities Co. Ltd., in a March research report.
Developers’ desire to cut prices poses a problem for regulators
Property developers in southern China’s Guangdong Province have called on the local government to relax restrictions that prevent them from cutting prices, as many struggle to consolidate sales to keep much-needed cash.
Demand from developers in Guangdong exemplifies the Catch-22 the country’s property market regulators have found themselves in. plagued by companies teetering on collapse.
Have I got /
Chinese ride-sharing giant Didi bids farewell to the NYSE
Didi Global Inc. removed from the New York Stock Exchange (NYSE), less than a year after its successful stock market debut.
On Friday, the ride-hailing giant’s last trading day on the NYSE, its U.S. Depository Shares closed at $2.29 each, down 84% from its IPO price of $14.
Quick shots /
China wants the market to help speed up battery storage construction
Long read /
China’s trade growth recovering from Covid shock
Chinese MMA star beats former UFC winner
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