20200216 China News

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China News

1Alibaba Group Holding Ltd raked in 161 billion yuan ($23.2 billion) revenue in its latest quarterly earnings, beating analysts' expectations as the company said it is poised to withstand "both the novel coronavirus epidemic and economic downward pressure".


China Petrochemical Corporation (Sinopec), China's largest oil refiner, started selling vegetables at its 340 gas stations in Beijing to provide convenience to local residents.



Sinopharm, the largest healthcare company in China, said its research and development of vaccines against the novel coronavirus has made substantial progress, while treatment supplies for the infection are also to be increased.


China's internet television industry is likely to witness robust growth as radio and television companies are beefing up cooperation with local educational authorities and online education companies to offer students livestreaming courses, following the postponement of school semesters due to the novel coronavirus outbreak.


China is not going to have a large-scale consumer price inflation though the novel coronavirus outbreak will lead to higher CPI pressure in the short term, a central bank official said on Saturday.


Financial regulators are determined to further boost credit support with lower lending rates for smaller businesses, in order to prevent bankruptcies due to the novel coronavirus outbreak and stabilize employment, officials said on Friday.


Getting a decent gift online for Valentine's Day has become the new normal, as Chinese consumers choose to cook at home to celebrate the holiday amid the novel coronavirus outbreak.

SourceGlobaltimes, Xinhuanet, Chinadaily, Shine, GdtodayChina Plus News

Author: Producer Emilio Mendez

Speaker: Caroline Parraguez

Edition: EAcham

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