News Briefing for Tuesday, August 23, 2022

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

Your comments will now be featured on your profile on Weibo, after the Chinese Twitter-like platform announced it will be compulsory for users’ comments on certain posts to be displayed on their profile pages in a bid to strengthen regulation of online content.

• It will “curb online violence through technical means and eliminate risks at an early stage as much as possible,” wrote a Weibo-owned account for user complaints and violations. “Everyone should be responsible for their own speech both online and offline.”

China’s social security system is bogged down by unemployment: A sour job market has increased spending by China’s unemployment insurance system to 37.2 billion yuan ($5.45 billion) in June, according to the Ministry of Human Resources and Social Security, the highest since monthly data began being kept in 2013.

It’s life as usual for Taiwan-based U.S. firms, according to a survey by the American Chamber of Commerce (AmCham) in Taiwan, with 77% of the respondents saying that they had not been significantly impacted by the Chinese military exercises in the Taiwan Strait.

Supermarkets have extreme COVID pain: Among 10 major domestic supermarket companies that have disclosed performance forecasts for the first half of 2022, six are expecting to report year-on-year net profit losses, including Zhongbai Group with an estimated decline of up to 708.71%, and Beijing Hualian Group with up to 251.22%.

For details, click through to today’s business briefs, where you can also find more on:

• A fine of 73 million yuan ($10.67 million) for tainted milk.
• A new road map for unmanned civil aviation.

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