Chinas Bond Connect program sees record-high trading volume

(Xinhua)10:25, December 21, 2020

BEIJING, Dec. 20 (Xinhua) — The trading volume under Chinas Bond Connect program in November hit a record high, reaching 485 billion yuan (about 74.26 billion U.S. dollars), according to a report released by Bond Connect Co., Ltd.

The program saw a total of 5,895 trade tickets, with an average daily turnover of 23.1 billion yuan last month, the report showed.

Over 60 investors executed their first Bond Connect deal in November and the program received the first investor from South Africa, according to the report.

By the end of November, the program had 2,307 approved investors, including 75 of the top 100 global asset management companies, the report said.

The Bond Connect program, launched in July 2017, is a mutual market access scheme that allows overseas investors to invest in the Chinese mainlands interbank bond market using financial institutions on the mainland and in Hong Kong.

Chinas central bank to issue 10 bln yuan of bills in Hong Kong

(Xinhua)10:26, December 21, 2020

BEIJING, Dec. 20 (Xinhua) — Chinas central bank plans to issue 10 billion yuan (about 1.53 billion U.S. dollars) worth of bills in Hong Kong on Wednesday.

Dutch bidding will be adopted as the tender mode for the fixed-rate bill, which will come with a par value of 100 yuan and repay principal and interest upon maturity of six months, the Peoples Bank of China said in an online statement.

It will be the 12th issuance of central bank bills in Hong Kong this year.

The move aims to enrich yuan-investment products with high credit ratings in Hong Kong and improve the yield curve of yuan in the region, the central bank said.

Since November 2018, the bank has established a standard mechanism for issuing central bank bills in Hong Kong.

Gold-backed ETFs record first net outflow in 2020 WGC

(Xinhua)16:13, December 21, 2020

BEIJING, Dec. 21 (Xinhua) — The global holdings of gold-backed exchange-traded funds (ETFs) and similar products dropped by 107 tonnes in November, recording the first monthly net outflow this year, data from the World Gold Council (WGC) showed.

During the first 11 months, net inflows of gold ETFs totaled 916 tonnes, bringing global holdings to 3,793 tonnes, or around 215 billion U.S. dollars.

Gold ETFs listed in North America saw an outflow of 62.3 tonnes in November, while gold ETFs listed in Europe dipped by 42.4 tonnes, the data showed.

The WGC noted that the steep decline of international gold prices, as well as rising risky assets, explained much of the November drop in global ETFs holdings.

Since its debut in 2003, gold ETFs and similar products have accounted for a significant part of the gold market, with growing acceptance among both institutional and individual investors.

Chinas courier sector handles over 80 bln parcels this year

(Xinhua)16:35, December 21, 2020

BEIJING, Dec. 21 (Xinhua) — Chinas courier sector this year handled more than 80 billion parcels until Monday, setting a record, the State Post Bureau said.

Over the last four month, parcels handled by the sector have seen an average monthly growth of about 10 billion, reflecting steady economic recovery and strong spending power, according to the bureau.

The sector has been witnessing rapid business volume growth since February as it recovers from the impact of COVID-19. Currently, about 300 million parcels are handled daily by the sector, the bureau said.

From January to November, courier companies handled 74.1 billion packages, an increase of 30.5 percent year on year, with revenues jumping 17 percent year on year to 786.92 billion yuan (about 120 billion U.S. dollars).

China releases roadmap for global Legal Entity Identifier application

(Xinhua)13:58, December 20, 2020

BEIJING, Dec. 19 (Xinhua) — China has released the Roadmap for the Application and Implementation of the Global Legal Entity Identifier (2020-2022), the central bank said.

The move was made to promote the application and implementation of the global Legal Entity Identifier (LEI) in China, align with the high-standard international system of market rules, support the high-level financial opening up and facilitate cross-border trade and financial transactions, the central bank said.

The roadmap was jointly released by the Peoples Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange.

The roadmap sets the major goals of applying and implementing the global LEI in China from 2020 to 2022, and clarifies key tasks including the application of technology and the sustainable development of the local system.

Patriots governing Hong Kong an irresistible trend

By ZhongSheng (Peoples Daily)09:23, March 16, 2021

The decision of the National Peoples Congress (NPC), the top legislature of China, to improve the electoral system of the Hong Kong Special Administrative Region (HKSAR) has won wide support from the 1.4 billion Chinese people, including Hong Kong compatriots.

However, a very few countries in the west recently issued statements to smear the NPC decision, which trampled on international laws and basic norms governing international relations and came as blatant interference in Chinas internal affairs.

Photo shows the beautiful scenery of the Wan Chai section of Victoria Harbour, Hong Kong. (People鈥檚 Daily Online/Duan Changzheng)

It only lays bare their ulterior motive to wish Hong Kong ill and use Hong Kong as a pawn to hold back Chinas development at large.

Modern international relation system shall no longer be a jungle world from which justice and morality are absent. A very few western countries, however, have made unwarranted remarks about Hong Kong affairs on the pretext of democracy and freedoms, which only revealed their malicious intentions.

To improve the HKSARs electoral system is not about whether democracy and freedoms, but about a battle against those trying to grab power and commit subversion and infiltration.

These western countries must be aware that China today is no longer the old one that was once bullied by the Eight-Nation Alliance. Chinese people do not believe in fallacy. Nor are they afraid of evil forces. No country should expect China to trade its core interests away or tolerate any infringement on its sovereignty, security and development interests.

The statements made by these countries are nothing but ideological prejudices and hegemonic thinking, which expose their hypocrisy and double standard.

Democracy never existed in Hong Kong when it was still a colony ruled by a UK-appointed governor. When did any of these western countries care about its democracy back then? Their statements today are not about democracy at all. If they really intend to uphold democracy in Hong Kong, they would have never sat back and watched riots attempting to break into the Legislative Council building, or rebuked Chinas effort to improve the regions electoral system and bring long-term stability of democracy.

The value of democracy is how it brings governance, not chaos. Currently, the forces that impede Hong Kongs governance and make troubles on Hong Kong affairs are exactly standing at the opposite side of democracy.

Since Hong Kongs return to the motherland, the region has entered a new historical period featuring the principle of one country, two systems and high autonomy, and Hong Kong residents have enjoyed more extensive democratic rights than at any other time in history.

However, in recent years, anti-China disruptors jumped on the loopholes of the electoral system to endanger national security, and some western countries and external forces added fuel to the fire and covered up the rioters.

Facing such challenges, the NPCs decision to improve the electoral system is totally necessary and is conducive to the stable development of Hong Kongs democratic system. It has received wide support from Hong Kong compatriots, who believe it carries the central governments caring for the special administrative region and will develop a new democratic electoral system with Hong Kong characteristics.

Hundreds of thousands of Hong Kong citizens recently joined an online petition to support the decision, which explained that to improve the electoral system is an unstoppable trend that complies to the aspiration of the people.

The Sino-British Joint Declaration has always been taken as a tool by certain western countries to meddle in Hong Kong affairs. They did this because they wanted to label China as an irresponsible country that is reluctant to fulfill its international obligations. However, what they did was just comparing apples to oranges.

Its known by all that as China resumed exercise of sovereignty over Hong Kong, all rights and obligations of the British side under the Sino-British Joint Declaration were completed. And the Chinese government started administering it, in accordance with the Constitution and the Basic Law, not the Joint Declaration. The relevant countries have no legal basis or any right to cite the Joint Declaration to point fingers at Hong Kong affairs.

Hong Kong was, is and will always be China鈥檚 Hong Kong. To improve the regions electoral system is a decision that carries the will of the Chinese people. The countries that covered up anti-China rioters have already been widely condemned by the international society, and no attempt of foreign countries to interfere in Hong Kong affairs and Chinas domestic affairs will ever succeed. To have the patriots govern Hong Kong and eliminate anti-China forces is a necessary choice of all Chinese people and the history.

(Zhong Sheng is a pen name often used by Peoples Daily to express its views on foreign policy.)

E-certificate for COVID-19 vaccination useful instrument WHO

(Xinhua)09:06, March 16, 2021

GENEVA, March 15 (Xinhua) — Officials of the World Health Organization (WHO) said on Monday that the use of e-certificate for COVID-19 vaccination is a potentially very useful instrument, but warned about its use, notably for international travels, because of the tremendously iniquitous situation in the world.

Dr. Michael Ryan, executive director of WHO Health Emergencies Program, explained at a virtual press conference on Monday that electronic certificates for vaccination could be a very useful instrument for governments to use for managing the registration of vaccination in the country.

However, he added that the use of such certificates for travels across the world might not be fair, since the likelihood of one being offered a vaccine has very much to do with the country you live in, as vaccination for now is not widely available and is inequitably distributed throughout the world.

Several countries, such as the United States and the United Kingdom, are considering adopting electronic certificates, while the European Union announced on March 1 its plans for a green pass.

The WHO said that it was also collaborating with partners to develop electronic certificates as having a digital certificate on a mobile phone would be an advantage to having a paper certificate, said WHO Chief Scientist Soumya Swaminathan.

Over the next few weeks and months we will be working mainly with our member states to discuss how this could be implemented, she explained.

As the world is struggling to contain the pandemic, vaccination is underway in an increasing number of countries with the already-authorized coronavirus vaccines.

Meanwhile, 263 candidate vaccines are still being developed worldwide — 81 of them in clinical trials — in countries including Germany, China, Russia, Britain, and the United States, according to the latest information released by the WHO on March 12.

China approves its fourth COVID-19 vaccine for emergency use

(Chinadaily.com.cn)16:43, March 16, 2021

Web Photo

China approved a recombinant protein subunit vaccine against COVID-19 for emergency use on Wednesday, according to the vaccines developer, the Institute of Microbiology of the Chinese Academy of Sciences.

So far, the vaccine is the fourth approved by the country for emergency use against COVID-19.

The vaccine was developed by the institute and Anhui Zhifei Longcom Biopharmaceutical. It is currently in phase-three clinical trials in foreign countries including Uzbekistan, Pakistan, Ecuador and Indonesia, with plans to inoculate a total of 29,000 volunteers, the institute said in a statement on Monday.

On March 1, Uzbekistans Ministry of Innovative Development said it has approved the vaccine for market use in the Central Asian nation under the name ZF-UZ-VAC2001. The vaccine was approved for emergency use in the country on Feb 22, making it the worlds first recombinant subunit vaccine to be authorized for clinical use.

Rather than injecting a whole inactivated pathogen to trigger an immune response like previously approved vaccines, subunit protein vaccines contain purified pieces of the viruss protein to train the immune system. These fragments are incapable of causing disease, thus making this type of vaccines very safe.

Notable subunit vaccines include the vaccine for hepatitis B. This type of vaccine does not require high biosecurity labs to make, has high output and low storage requirements, the institute said.

The vaccine completed phase one and two clinical trials in October, and there were no severe adverse effects recorded, the institute said, adding the protection rate for this vaccine is on par with other COVID-19 recombinant subunit and mRNA vaccines in the world, though it did not disclose efficacy details.

US biotech company Novavax is the maker of another recombinant nanoparticle subunit vaccine for COVID called NVX-CoV2373, whose phase-three trials results released last week showed it was 96.4 percent effective against mild, moderate and severe disease caused by the original COVID-19 strain. The mRNA vaccines, developed by Pfizer and Moderna, both have a protection rate of around 95 percent.

COVID-19 re-infection not confirmed WHO expert

(Xinhua)08:53, August 14, 2020

A senior expert of the World Health Organization (WHO) said on Thursday that although there are some cases suggesting that an individual may have been re-infected with COVID-19, its still not confirmed.

Maria Van Kerkhove, technical lead on COVID-19 response at the WHO Health Emergencies Program, told a virtual press conference that some people can have PCR (polymerase chain reaction) positivity for many weeks, not just days, and it doesnt necessarily mean that they are infectious for that long.

According to the WHO expert, false positivity or false negativity may also lead to the result that an individual is tested positive again, but that should not be viewed as re-infection.

What we ideally would like is to look at sequencing. If the virus can be isolated, if sequencing can be done, so we can look and see if somebody has been re-infected, she said.

WHO-sponsored plan for new COVID-19 tools has shown results Tedros

(Xinhua)08:59, August 14, 2020

The World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus on Thursday said that the WHO-sponsored plan for new COVID-19 tools has shown results.

Speaking at a virtual press conference from Geneva, the WHO chief said the plan, named Access to COVID-19 Tools ACT-Accelerator and started in April, has come out with nine vaccine candidates that are going through Phase 2 or 3 trials.

And through the COVAX Global Vaccines Facility, countries that represent nearly 70 percent of the global population have signed up or expressed an interest to be part of the new initiative, he said.

On therapeutics, the WHO chief said that the first proven therapy for severe COVID-19, Dexamethasone, was announced in June with support from the plans therapeutic accelerator arm and is currently in scale-up.

On diagnostics, more than 50 tests are currently in evaluation, and new evidence has been generated around rapid antigen detection tests that could be game-changing, he noted.

However, the WHO chief told reporters that the ACT-Accelerator plan is now facing a huge financial shortage and it must be financed to be successful.

Earlier this week, Tedros said that the plan has only received 10 percent of what is needed.

Its easy to think of the ACT-Accelerator as a research and development effort, but in reality its the best economic stimulus the world can invest, he said.

Mentioning that within the first two weeks of January, the viral genome of COVID-19 was mapped in China and shared globally, Tedros stressed that as the pandemic evolved, countries needed to come together in an unprecedented way.

Today, I want to talk about not how were going to go back but how were going to go forward. And that to move forward, the best bet is to do it together, Tedros said.

He pointed out that excess demand and competition for supply are already creating vaccine nationalism and the risk of price gouging.

This is the kind of market failure that only global solidarity, public sector investment and engagement can solve, he stressed.