China’s tit-for-tat travel restrictions

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

China suspended short-term visas for visitors from Japan and South Korea today in its first retaliation against a wave of new COVID entry restrictions introduced in recent weeks by governments for travelers coming from China.

• The measures “will be adjusted depending on the cancellation of South Korea’s discriminatory entry restrictions on China,” the Chinese embassy in Seoul said in a brief statement on WeChat.
• China also began limiting visas from Japan on the same day, according to several travel industry sources per Kyodo News, many of which said that they could not apply for almost any type of Chinese visa after being notified of a similar suspension.
• The tit-for-tat travel restrictions come after China opened up its borders to quarantine-free arrivals on Sunday: While some places have imposed new restrictions, others have welcomed the return of China’s big-spending tourists.

Paxlovid may soon go on sale in China, after the ​​American pharmaceutical giant Pfizer said that it could begin manufacturing its COVID pill through a local partner within three to four months.

• “We are not in discussions. We have an agreement already for local manufacturing of Paxlovid in China. So we have a local partner that will make Paxlovid for us, and then we will sell it to the Chinese market,” Pfizer’s chief executive, Albert Bourla, said yesterday per Reuters.
• The drug will not be covered under China’s public health insurance, since Beijing offered a price too low for the company to accept under its tiered pricing schemes.
• Paxlovid is currently covered by public health insurance on a temporary arrangement until March 31, where each packet costs 1,890 yuan ($280). Placing it on the register of drugs covered by basic medical insurance would have made it more affordable for patients.

Chinese rockets are giving Musk’s SpaceX a run for his money, after the successful launches of its first two rockets of 2023 over the weekend under its ambitious plans to become a global space power.

• Private Chinese rocket startup Galactic Energy sent five satellites into orbit yesterday on its Ceres-1 rocket, marking the firm’s fifth success from five launches.
• China Aerospace Science and Technology Corporation (CASC) confirmed launch success for its Long March 7A carrier rocket on Sunday.

Sick solar profits: Trina Solar, one of China’s leading photovoltaic companies, with a market capitalization of over 152 billion yuan (over $22 billion), has announced a 2022 profit forecast of up to 4.01 billion yuan ($587.46 million), a year-on-year increase of 122.68%. See today’s Business briefs from the Chinese media, with more links and info on:

• More than 10% of Changan’s sales are electric cars.
• China’s first national hydrogen energy quality control center.
• TSMC semiconductors.

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