News Briefing for Wednesday, July 6, 2022

Here’s what else you need to know about China today:

Beijing launches China’s first COVID vaccine mandate: Authorities have announced a vaccine mandate, with a particular focus on the elderly, who have so far been reluctant to get vaccinated, in China’s capital city to combat the spread of a new Omicron COVID subvariant. Residents will have to show proof of vaccination to enter public venues such as museums, theaters, stadiums, and gyms, and will still be required to take COVID tests every three days on top of the vaccine mandate.

Shenzhen passes landmark right-to-die law: The city recently passed legislation allowing terminally ill patients to opt out of excessive lifesaving treatment. The law gives flexibility to living wills that specify a person’s desire or lack thereof for treatment at the end of their life, with some lauding the move as an advance in human rights and the ability to die with dignity.

Land isn’t selling like it used to: According to a report, in the first half of the year, the total land transaction value in 100 cities across the country was 1.13 trillion yuan ($168.41 billion), a drop of 50% month-on-month and 55% year-on-year. Land transactions in third- and fourth-tier cities fell by an even greater margin.

More than 200 new companies in China’s stock markets: During the first half of the year, a total of 260 domestic companies applied to be listed on the A-share market, of which 228 were approved, a success rate of 87.69%. Over the same period, 203 companies applied for listing on the Beijing Stock Exchange (aimed at SMEs), an increase of 331.91% year-on-year.

Soaring new energy profits: On Monday, Tongwei, which mainly produces agricultural feed and polycrystalline silicon, a raw material in the photovoltaic and electronics industries, announced that it expects to achieve net profits of up to 12.5 billion yuan ($1.86 billion) in the first half of the year, a year-on-year growth rate of up to 321.48%.

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