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MNI China Press Digest Feb 5: Fentanyl, WTO, Spring Festival

MNI picks keys stories from today's China press
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaPolicy StoryStoryRegion
MNI (BEIJING)

Highlights from Chinese press reports on Wednesday:

  • The U.S. should control fentanyl by addressing domestic loopholes and cooperating with many countries, including China, given the global nature of the issue, according to Ying Pinguang, professor at the School of International Organisations at Shanghai University. Criminals can by-pass China’s best efforts to stop the drug through black-market transactions and disguising exports to other countries, Ying said. China led the world in 2019 by banning over 100 fentanyl derivatives, far exceeding international conventions, Ying added. U.S. President Donald Trump has linked the illicit fentanyl trade to tariff actions against China, Canada and Mexico. (Source: Globe.com)
  • China has demonstrated its firm commitment to the multilateral trading system by filing a World Trade Organisation complaint after the U.S. moved to impose tariffs on Chinese imports, said Wu Suilong, director at the Shanghai WTO Affairs Consulting Center. Washington’s behaviour will weaken international law and cause turmoil in international trade and financial markets, Wu noted. (Source: Yicai)
  • China’s cross-regional people flow increased 7.2% y/y during the Spring Festival, setting a historical record, data from the Ministry of Transport showed. Ctrip Group, a major travel services platform, said inbound travel orders on their app increased 203% during this year’s festival, while Qunar.com reported outbound travel spread to 2,100 destinations, an increase of 50% y/y. (Source: Securities Daily)
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MNI (BEIJING)

Highlights from Chinese press reports on Wednesday:

  • The U.S. should control fentanyl by addressing domestic loopholes and cooperating with many countries, including China, given the global nature of the issue, according to Ying Pinguang, professor at the School of International Organisations at Shanghai University. Criminals can by-pass China’s best efforts to stop the drug through black-market transactions and disguising exports to other countries, Ying said. China led the world in 2019 by banning over 100 fentanyl derivatives, far exceeding international conventions, Ying added. U.S. President Donald Trump has linked the illicit fentanyl trade to tariff actions against China, Canada and Mexico. (Source: Globe.com)
  • China has demonstrated its firm commitment to the multilateral trading system by filing a World Trade Organisation complaint after the U.S. moved to impose tariffs on Chinese imports, said Wu Suilong, director at the Shanghai WTO Affairs Consulting Center. Washington’s behaviour will weaken international law and cause turmoil in international trade and financial markets, Wu noted. (Source: Yicai)
  • China’s cross-regional people flow increased 7.2% y/y during the Spring Festival, setting a historical record, data from the Ministry of Transport showed. Ctrip Group, a major travel services platform, said inbound travel orders on their app increased 203% during this year’s festival, while Qunar.com reported outbound travel spread to 2,100 destinations, an increase of 50% y/y. (Source: Securities Daily)