Tinaye Agere
Manyika Kangai
Earthquake Hits Southwest China
Three were injured in a 5.2-magnitude earthquake that jolted the city of Baoshan in southwest China’s Yunnan Province on Tuesday evening.
Local authorities activated a level III emergency response and rushed rescue teams to the disaster area. The earthquake hit Longyang District of Baoshan at 11.27 pm on Tuesday.
According to a local report, three suffered minor injuries in the earthquake and were sent to hospital for medical treatment.
Their injuries were all non-life threatening.
Wayao Township, Shuizhai Township and Banqiao Township – all administered by Longyang District – are among the most affected.
Currently, 2 805 houses in the three places were damaged, and more than 11 000 residents were relocated to safer places.
Hong Kong’s Economy Rebounds
Hong Kong’s economy grew by 2,7 percent year-on-year in the first quarter of 2023, reversing a four-quarter-long contraction last year, according to official data announced on Tuesday.
It was the first quarterly gain in Gross Domestic Product (GDP) in more than a year, and a rebound from the 4,1 percent decline in the final quarter of last year.
Hong Kong’s leader, John Lee, disclosed the figure at his weekly press conference on Tuesday, and stated that the second quarter will be “much better”.
Visitor arrivals surged to some 2,5 million in March, up 68 percent from February, with that figure expected to increase this month as hundreds of thousands of mainland Chinese have travelled across the border during the five-day May Day holiday.
China’s Railway Investment Up
Fixed-asset investment in China’s railways went up 6,6 percent year-on-year in the first quarter (Q1) of the year, according to data from the China State Railway Group.
A total of 113,6 billion yuan (about US$16,4 billion) was invested in the country’s railways.
In the first three months, China’s railways handled 753 million passenger trips, surging 66 percent year-on-year.
The country’s rail freight volume, a key indicator of economic activities, rose 2,3 percent year-on-year to 970 million tonnes in the same period.
China’s Number of New Private Enterprises Grows
China registered 2,039 million new private enterprises in the first quarter of 2023, up 10,7 percent year-on-year, according to data from the State Administration for Market Regulation.
By the end of March, the number of registered private enterprises had exceeded 49 million, accounting for 92,3 percent of the country’s total tally.
From January to March, 519 000 new private enterprises were established in the country’s central region, up 20,8 percent year-on-year.
Some 441 000 new private enterprises were set up in the western region, up 30,2 percent year-on-year.
The number of new private enterprises in the Accommodation and Catering industry and Leasing and Business Services industry, which were once hit hard by COVID, grew 35,7 percent and 15,5 percent year-on-year.
China Busts Gold Smuggling Gang
Police in north China’s Inner Mongolia Autonomous Region have busted a gang that deployed an unmanned aerial vehicle to smuggle gold nuggets into the country.
Four suspects were arrested, and 5,2kg of gold was seized by the police in April, according to the public security bureau of Manzhouli City.
The drone used by the gang can perform automatic cruising and is designed to carry a maximum weight of 20kg.
It is worth 250 000 yuan (about US$36 180).
The drone departed from the Chinese side of the China-Russia border to a spot in Russia, where one gang member loaded the drone with gold nuggets.
The drone then flew back and delivered the nuggets to other members of the gang, according to one suspect’s confession.
*Manyika Kangai has over 15 years of experience facilitating and advising on China-Africa trade and investment deals
Online Reporter