Business briefs from the Chinese media — Tuesday August 22
Business briefs from the Chinese media — Tuesday August 22
Supermarkets have extreme COVID pain: Among ten 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 中百集团 with an estimated decline of up to 708.71%, and Beijing Hualian Group 北京华联 with up to 251.22%.
Huge fine for tainted milk: The State Administration for Market Regulation has issued a fine of 73 million yuan ($10.67 million) to Maiquer Group 麦趣尔, a Xinjiang-based food company, after propylene glycol (a food additive not permitted in milk) was found in two batches of the company’s products in July.
Drone laws: The Civil Aviation Administration has issued a draft document, Roadmap for the Development of Unmanned Civil Aviation, to solicit public opinion. The document proposes that unmanned aviation should be integrated into China’s civil aviation system by 2035.