CBN丨Olympics 22-day countdown: China says Winter Games first one to fully implement sustainability

China Business Now李莹亮,见习记者张然 2022-01-13 20:09


Hi everyone. I’m Stephanie LI.


Coming up on today’s program.


  • With only 22 days to the “big day”, Beijing promises to host "green" Olympics, while making sure recent Covid outbreaks would not affect the games;

  • China aims to boost digital economy to 10 percent of its GDP by 2025.

Here’s what you need to know about China in the past 24 hours 


China promised to hold a green and sustainable Winter Olympics  as the country pushes for its “30-60” carbon peak and neutrality goals, a press conference on the latest progress of the Beijing 2022 Games sustainability plan said on Thursday, announcing the release of a pre-games sustainability report. 

The Beijing Winter Olympics has strictly implemented low-carbon management, with all venues meeting green building standards and powered by renewable energy, director of Beijing 2022's general planning department said. Meanwhile, organisers of the games will build a low-carbon transportation system and carry out carbon offsets, and the Winter Olympics will be carbon neutral.

The preparations for the games have accelerated the environmental protection efforts of the host cities, which led to significant improvement of the air quality in Beijing and Zhangjiakou from 2015 to 2021, according to the report. The 2022 Games has also boosted the economic development of the two cities.

With just 22 days left until the event, the recent Omicron outbreak in Beijing’s neighbouring Tianjin has mounted to its pandemic control pressure. Tianjin reported another 41 infections yesterday, and travel from Tianjin to Beijing has been restricted. Barricades have been set up on highways to Beijing and the sale of train tickets from Tianjin to Beijing has been halted.

Olympic officials and volunteers has entered a “closed loop” last week, which is designed to seal off participants from any outbreak in the outside world and contain any cases among Olympic personnel.








Greater Bay Area, Greater Future


  • Hong Kong Exchanges and Clearing Limited announced on Wednesday that it had signed a new strategic cooperation agreement with Shenzhen Stock Exchange to further enhance market connectivity and facilitate the development of the Greater Bay Area.


Update on COVID-19


  • The Chinese mainland reported 124 local cases on Wednesday, with 76 in Henan province, 41 in Tianjin, 6 in Xi’an city of Shannxi, and 1 in Shenzhen city of Guangdong. 


Next on industry and company news


  • China's State Council on Wednesday rolled out a plan to facilitate digital economy in the 14th Five-Year Plan period, aiming to raise the proportion of the added value of digital economy industries in its GDP to 10 percent in 2025. It detailed tasks in eight areas, including upgrading digital infrastructure, pushing forward the digital shift of enterprises, and expanding international cooperation in the sector. 


  • US fast-food giant KFC was denounced by the China Consumers Association for “hunger marketing” by offering free limited-edition toys with its boxes of fried chicken which causes people to purchase excessive amounts of food that they are unable to consume.


  • Ride-hailing giant Didi Global has begun informal talks with the Hong Kong Stock Exchange and could list by the second quarter of this year. Didi reportedly plans to use a mechanism, known as “listing by introduction,” that will allow it to list in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York.


  • Ark Investment Management, a US firm run by famed fund manager Cathie Wood, dumped almost 890,000 shares of JD.Com on Jan. 10, its biggest selloff since last July. The shares were worth over $60 million.


Switching gears to the financial sector


  • China's new yuan-denominated loans totalled 19.95 trillion yuan in 2021, up 315 billion yuan compared to the year before, central bank data showed Wednesday. In December, new bank lending went down 123.4 billion yuan from the same period in 2020, standing at 1.13 trillion yuan.


Wrapping up with a quick look at the stock market


  • Chinese stocks retreated on Thursday as stocks in new energy and baijiu declined. The Shanghai Composite lost 1.17 percent, and the Shenzhen Component fell nearly 2 percent. The Hang Seng Index edged up 0.11 percent, while the TECH Index fell 1.75 percent.


Biz Word of the Day


  • Listing by introduction is a way of listing shares already in issue on another exchange. No marketing arrangement is required as the shares for which listing is sought are already widely held.



Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI, ZHANG Ran, WEN Sixian

Producer: XIANG Xiufang

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(作者:李莹亮,见习记者张然 编辑:李艳霞)