Chinese COVID-19 vaccine developers Sinovac, Sinopharm and Cansino Bio have submitted application to join COVAX, a global schemed backed by the World Health Organization, foreign ministry spokeswoman Hua Chunying said on Wednesday.
Rescue teams on Wednesday drilled new holes down a gold mine in China's Shandong province, searching for more survivors after an explosion 10 days ago and preparing an escape passage for a group known to still be alive, state media reported. A total of 22 workers were trapped underground in the Hushan gold mine on the outskirts of Yantai, on China's eastern coast, following the Jan. 10. blast.
Workers trapped in a Chinese gold mine for more than nine days received more medical and food supplies on Tuesday, including bandages, blankets and porridge, but one of the group is in a critical condition with a severe head injury, state media said. A total of 22 workers were left trapped in the Hushan mine, in Shandong province, after an explosion on Jan. 10.
HONG KONG-- One thing is missing from China's otherwise remarkable economic recovery: a strong rebound in consumer spending. Even though China was the only major economy to expand during the Covid-19 pandemic last year, its growth remains highly unbalanced, relying heavily on exports of manufactured goods to the U.S. and elsewhere. Domestic consumption has lagged, with retail sales shrinking 3.9% in 2020 from the previous year and demand for imported goods falling slightly.
China's benchmark lending rate is likely to remain unchanged at the first monthly fixing of the year on Wednesday, steady for the ninth straight month, as the economy recovers from the coronavirus shock. Twenty-six traders and analysts, or 87% of all 30 participants, in a snap Reuters poll conducted this week predicted no change in either the one-year Loan Prime Rate or the five-year tenor.
China will provide necessary policy support for the economic recovery this year, to avoid a "policy cliff", as small firms remain hard-pressed amid the pandemic, a senior official at the state planner said on Tuesday.
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