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Japanese media: 66 Percent of Japan’s High-end Foreign Talent Is from China

Japan’s Nikkei reported on February 20 that 66 percent of the “high-end foreign talent” in Japan comes from China, far ahead of India and South Korea. According to the report, “high-end foreign talent” refers to foreigners who possess professional knowledge and skills and work in Japanese companies and research institutions. Japan’s Immigration Services Agency defines them as “human resources who are to bring innovation to Japanese industry and improve labor market efficiency.” Since 2012, the Japanese government has been making efforts to attract foreign talent by creating a new immigration category of “Highly Specialized Jobs (High-end Professional Jobs).” As of the end of June 2022, 17,199 high-end foreign professionals fell into this category, accounting for 0.6 percent of the total number of foreign residents in Japan. In terms of nationality, as of the end of 2021, 66 percent of “Highly Specialized Job” workers were from China, far ahead of India (6 percent) and Korea (4 percent).

On February 17, the Japanese government finalized a new policy for attracting talent by establishing a new “Special High-End Talent System” in which foreign technicians with an annual income of 20 million yen (USD$149,000 ) or more can apply for permanent residency after staying in Japan for one year. At the same time, the Japanese government will also allow graduates from the world’s top-ranked universities to stay in Japan for up to two years for job hunting activities.

Source: Sputnik News, February 21, 2023.
https://sputniknews.cn/20230221/1048098903.html

Seniors to the Rescue of China’s Housing Market

The Chinese government is attempting a variety of measures to rescue the sinking housing market. There was a story that banks in Nanning city of Guangxi province have increased the age ceiling for mortgage applicants to 80, and shortly afterwards, banks in Beijing raised the limit to 95.

A local newspaper, Beijing News reported that a branch of the Bank of Communications allows the mortgage applicants to be as old as 95 years of age, with the condition that the applicant’s children guarantee the loan and that the borrower’s pension and the monthly income of the guarantor are at least twice the monthly mortgage payment.

A researcher at the Bank of China said the banks’ practice of extending the age of applicants for mortgages reflects the changing demand for housing from a population that is aging. The policy is aimed to help “stimulate demand” in the current sluggish housing market in China.

Source: Central News Agency (Taiwan), February 19, 2023
https://www.cna.com.tw/news/acn/202302190156.aspx

2022 China’s Housing Sales Plummeted by 5 Trillion Yuan

According to China Real Estate Information Corporation (CRIC), a Shanghai based real estate consulting firm, the overall sales in China’s housing sector in 2022 is expected to approximate 13.5 trillion yuan (US$ 1.95 trillion), a 5 trillion yuan (US$ 0.72 trillion) or 27 percent decrease from the 18.19 trillion yuan (US$ 2.63 trillion) in 2021. 90 percent of the top 100 real estate developers under-performed last year. The number of developers with sales above 100 billion yuan (US$ 14.5 billion) dropped from 43 during the peak time to only 20 today.

Against this backdrop of diminishing domestic and foreign financing channels, developers are facing huge amounts of outstanding debt. They are also facing other pressures, such as the pressure to deliver properties on-time. Starting in September, a few housing giants slashed their housing prices. A few reductions were as deep as 40 percent. Although the marketing and sales drive continued into the 4th quarter, Chinese home buyers continued to show little enthusiasm.

Source: Central News Agency (Taiwan), January 1, 2023
https://www.cna.com.tw/news/acn/202301010137.aspx percent

China’s Easing of Covid-19 Control Has Triggered a Drug Shortage

During the past three years of Covid control, China has been putting antipyretic and other drugs under strict regulation. As a result, some pharmaceutical companies have gone bankrupt. With the sudden relaxation of control, many companies that did not receive prior notice are facing pressure to scale up production immediately as they do not have an adequate supply.

The “four types of drugs” in China generally refer to antipyretic, anti-cough, antibiotic and anti-viral drugs. Among them, China is the largest producer and exporter of Ibuprofen, the antipyretic and analgesic drug. It accounts for 1/3 of the world’s production.

A social media account that collects articles from around 100 hospital management experts and medical observers posted, “The four types of drugs were strictly controlled in the early stage, but no one told the drug companies to increase production before the relaxation.” The article says that there are more than 500 ibuprofen manufacturers in China, and there is no shortage of raw materials. Even if there were only 200 manufacturers, “if they had been told a month in advance (to increase production and stock), there would be one box for every Chinese.

The City government of Zhuhai in Guangdong province announced that, since December 20, ibuprofen and other drugs have had to be sold in unpacked boxes, with a price cap and real name registration.

Source: Central News Agency (Taiwan), December 20, 2022
https://www.cna.com.tw/news/acn/202212200385.aspx

Job Ads in China: Priority Is Given to Those Who Tested Positive for Covid-19

A sharp U-turn in China’s Covid-19 prevention policy also translates into theatrical changes in the job market. In the past, people who had been tested positive for Covid-19 had difficulties landing a job; they are now given priority when looking for positions.

Due to the suddenly loosened Covid-19 measures, the number of people who are infected with the disease has risen sharply. Some people believe that being infected with the disease is the equivalent of gaining immunity. “It is better to be infected first,” so that they can avoid facing the uncertainty of being infected all the time.

The Wechat account of Legal Daily, a major state newspaper, posted in an article on December 20 that some recent job openings claim that “priority is given to those who have tested positive for Covid-19.” Some even explicitly say, “not interested in those who have tested negative for Covid-19.” A lawyer in Beijing said that this may be employment discrimination and is illegal.

Before the dramatic change in the Covid-19 policy, there was no lack of job market discrimination against those who were Covid positive. Back in October, a large number of Foxconn workers in Zhengzhou, Henan province, left the factory on foot because, among other things, they were afraid that even if they recovered from the epidemic, they would have difficulty finding a job.

Source: Central News Agency (Taiwan), December 22, 2022
https://www.cna.com.tw/news/acn/202212200277.aspx

Hangzhou’s Covid-19 Statistics Have Drawn Suspicion

How serious is the current epidemic in China? It is hard to determine the truth. Take Hangzhou, the capital city of Zhejiang province, for example. Local hospitals have recently seen an exponential increase in Covid-19 fever patients. As many as 90 percent have tested positive. However, the Zhejiang Provincial Health Commission said on December 17 that only 43 cases were confirmed in Hangzhou.

The Qianjiang Evening News, a popular metropolitan newspaper in Hangzhou, reported that the fever clinic at one campus of Zhejiang Hospital saw more than 600 patients on December 16.

In addition, fever clinics at hospitals affiliated with the Zhejiang University School of Medicine reported a single-day attendance of more than 1,000 people.

The newspaper quoted doctors from several hospitals in Hangzhou who said that 90 percent of the patients in local fever clinics had tested positive.

Hangzhou has a residential population of more than 12 million. The Zhejiang Provincial Health Commission reported on Saturday December 17 that the province’s medical institutions reported only 52 new confirmed cases of Covid-19, of which Hangzhou accounted for 43 cases.

Source: Radio Free Asia, December 17, 2022
https://www.rfa.org/mandarin/Xinwen/4-12172022120644.html

Number of First Marriages in China Falls Below 12 Million, a 37-year low

According to China’s National Bureau of Statistics, the number of first marriages in 2021 was 11.578 million, down 708,000 from the previous year. This is the first time in many years that the number of first marriages in China has fallen below 12 million, a new low since 1985.

There are many reasons contributing to the continuous decline in the number of first marriages, including the decline in the number of those of a marriageable age, the postponement of the age of a first marriage, economic pressure, and changes in the views toward marriage. In recent years, the average age of a first marriage among young people in China has been significantly postponed to 28.67 years, an increase of 3.78 years from the average age of the first marriage in 2010 (24.89 years).

An official of China’s National Health Commission said that the vast majority of the young population grow up and work in cities and towns, have more years of education, and face more competitive pressure for employment, all of which make the phenomenon of delayed marriage and childbearing very prominent.

Source: Central News Agency (Taiwan), December 2, 2022
https://www.cna.com.tw/news/acn/202212020195.aspx

China-built Rail Project in Indonesia Faces Criticism

The 142-km high-speed rail connecting Indonesia’s capital Jakarta with another large city Bandung, part of China’s Belt and Road Initiative, has faced numerous accusations from Indonesians during the project’s closing stage.

In August of this year, KCIC, the consortium building the railway, requested the Indonesian Ministry of Transportation  to extend the concession period from 50 to 80 years. The company’s president, Dwiyana Slamet Riyadi, explained on December 8 before the Fifth Committee of the Indonesian Parliament, which is in charge of transportation and public works, that there had been a significant change in the project’s business environment.

However Lasarus, S.Sos., an Indonesian Parliament member and chair of the Committee, is skeptical about the extension of the concession rights, according to detik.com, an Indonesia news website. He pointed out that many people complained about the project, arguing that since the business environment is not good, no more public expenditures should be used on it.

The news was picked up by major media in Indonesia that day and drew widespread criticism. Muhammad Said Didu, a former senior government official, posted on his personal Twitter account that KCIC had deceived Indonesians in five aspects. China claimed that it was cheaper than Japan’s high-speed rail construction proposal, that the project was feasible, that it did not require government guarantees, that it did not tie up public coffers, and that the operating rights were extended from the 50-year requirement to 80 years. The post received thousands of retweets and likes.

According to Chinese official media, construction of the railway officially began in January 2016 and was set to be completed in the second half of 2019, with the concession running for a total of 50 years from May 2019, with a total cost of US$5.135 billion negotiated between China and Indonesia. However, Detik.com noted that the total investment for the project was later renegotiated to US$6 billion. On top of that, the Indonesian Financial Supervisory Authority (BPKP) assessed that the construction cost exceeded the budget by US$1.49 billion, while the Chinese side admitted to only US$980 million, a disagreement of up to US$500 million.

An Australian engineer told Radio Free Asia, “There is a widespread issue of underbidding in China’s construction contracts in Asian, African and Latin American countries, as well as in Australia’s iron ore projects, followed by constant requests for more money during the operations. This has often resulted in debt traps, as in the case of Sri Lanka’s Hambantota port, which has put a big financial burden on the country.”

Source: Radio Free Asia, December 12, 2022
https://www.rfa.org/mandarin/yataibaodao/jingmao/fy-12122022130743.html