Here are five things that happened in China this week
The Sunday Mail
China sends astronauts to space station
China has launched the crewed spacecraft Shenzhou-14 sending three astronauts to its space station for a six-month mission. The trio will cooperate with the ground team to complete the assembly and construction of the Tiangong space station, transforming it from a single-module structure into a national space laboratory with three modules – the main Tianhe module and two modules of Wentian and Mengtian laboratory. It is the 23rd flight mission since the approval and launch of the country’s manned space program, and the third crewed mission for China’s space station project.
China holds national university entrance exam
According to China’s Ministry of Education, a record 11.9 million candidates applied for this year’s exam, known as ‘gaokao’, an increase of 1.15 million from 2021 With the exception of a postponement in Shanghai due to Covid-19, the examination started nationwide on Tuesday. In China, the national university entrance exams – gaokao – are taken by most high school students who wish to pursue an undergraduate education. It is widely regarded as the most important exam in the country, which can make or break a young person’s future. The exam is a pivotal moment, largely determining whether Chinese students can go to university, which institutions they will be admitted to and what careers await them.
China EximBank issues bonds to reopen Shanghai
The China Export-Import Bank (China EximBank), a public policy bank, issued financial bonds worth 5 billion yuan (about $749.7 million) to facilitate the resumption of production and work in Shanghai. With a maturity of one year and an interest rate of 1.8%, the bonds were issued on the interbank bond market. The subscription ratio reached 4.62 times. The bank has introduced a series of measures to support foreign trade, support anti-epidemic efforts and help micro, small and medium enterprises since the beginning of this year. Since June 1, Shanghai has largely returned to normal production and life after two months of confinement to contain the resurgence of Covid-19.
China’s foreign exchange reserves are growing
China’s foreign exchange reserves hit $3.1 trillion at the end of May, up $8.1 billion, or 0.26 percent, from the end of April, according to data from the State Administration of Foreign Exchange. released on Tuesday. The increase in foreign exchange reserves was attributed to the combined impact of the slight decline in the dollar index due to monetary policy and expectations in major economies, global economic growth prospects and geopolitical situations.
China takes world lead in 5G patents
China holds nearly 40 percent of standard essential patents for 5G technology, remaining at the top of the global rankings, according to a new report from the National Intellectual Property Administration. More than 210,000 standards-essential patents for 5G are currently filed worldwide, involving nearly 47,000 patent families. China reported 18,728 patent families, or 40% of the global total, followed by the United States at 34.6% and the Republic of Korea at 9.2%. A patent family is a collection of patent applications covering the same or similar technical content. Chinese tech firm Huawei reported 6,583 patent families, accounting for 14% and taking the lead in global filers. Among the world’s top 15 patent applicants, seven are Chinese companies, including two from the United States, Japan, Europe and the Republic of Korea.
Manyika Kangai helps African businesses realize the full potential of the vast opportunities that China presents. He has over 15 years of experience in facilitating and advising on trade and investment agreements between China and Africa. Comments: +27743487997/www.muvambi-sa.co.za